Tuesday, July 04, 2006

Independence Day Follies

Four companies chose to issue substantive press releases either on July 4th or in the evening of July 3rd. While the American people are supposed to be watching fire works and enjoying picnics these guys think its a good idea to come out and say something. Oddly enough two companies announced dividends. Teekay Shipping (NYSE:TK)and Northwest Natural Gas (NYSE:NWN) Normally dividends are joyous events. Pacific Capital Bancorp (Nasdaq:PCBC), announced the completion of an acquisition. Why sneak this one under the radar. Accuride Corporation (NYSE:ACW) announced that all forging presses located at its Erie, Pennsylvania, facility have returned to full production levels, following the breakdown of two presses. Like it never happened.