Monday, October 29, 2012

Daily Business Update

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Daily Business Update


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Mon. Oct. 29, 2012

Utilities have hundreds of crews ready to go to respond to Sandy

Massachusetts’s major utilities have hundreds of crews stationed around the state, ready to handle downed power lines and other utility-related storm damage caused by Hurricane Sandy, representatives said. They have also been providing customers with storm preparation tips and updates via email and phone calls. Each has set up an online storm center where customers can report outages and get storm-related information.

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Three cruise ships sitting out Hurricane Sandy in Port of Boston

Three cruise ships carrying several thousand passengers are sitting out Hurricane Sandy in the Port of Boston. Royal Caribbean’s Jewel of the Seas was due to leave Sunday for the Caribbean, will remain docked until Tuesday. The Caribbean Princess was not scheduled to stop in Boston but diverted here Sunday night after the cruise line canceled its stop in Bermuda to avoid strong winds. Crystal Cruises’ Crystal Symphony arrived in Boston Sunday for what was supposed to be a daylong port-of-call visit but now will docked here until Tuesday morning.

Businesses heed warning, closing for Sandy

Many businesses in eastern Massachusetts are heeding warnings about Hurricane Sandy and have either closed or are sending employees home early--especially since the MBTA is shutting down service early Monday afternoon.

Massachusetts gas prices fall 10 cents a gallon, AAA says

The average price for gas in Massachusetts is $3.669 a gallon in the latest weekly survey from AAA, down 10 cents from the previous week’s average, AAA Southern New England said Monday. Local prices have fallen 18 cents a gallon over the past month, AAA Southern New England added. The current national average price is $3.54 a gallon. A year ago at this time, the Massachusetts average price was $3.40.

Liberty Mutual cancels 3Q earnings conference call due to severe weather disruptions

Liberty Mutual Holding Co. Inc., parent corporation of the Liberty Mutual Insurance, has cancelled its third quarter earnings conference call, scheduled for Tuesday at 11 a.m. EDT because of “severe weather disruptions affecting most of the East Coast.” The earnings release, financial results, and other supplemental information will be available on the website www.libertymutual.com/investors as soon as possible.

Brooks Automation agrees to buy Crossing Automation

Brooks Automation Inc., a Chelmsford-based provider of automation, vacuum, and instrumentation services for such industries as semiconductor manufacturing, life sciences, and clean energy, said Monday it has agreed to buy Crossing Automation Inc., a California company that provides automation products to the semiconductor industry. The cash purchase price is $63 million, subject to adjustment for actual working capital at closing.

Vertex reschedules 3Q results and conference call due to Hurricane Sandy

Vertex Pharmaceuticals Inc., a Cambridge drug company, said it has rescheduled its third quarter 2012 earnings press release and conference call because of Hurricane Sandy. The earnings press release and conference call were originally scheduled for today, Monday. Vertex said it will now announce its third quarter 2012 financial results on Thursday after the financial markets close.

Maine gas prices drop by a dime per gallon

AUGUSTA, Maine — Gas prices in Maine tumbled by a dime per gallon in the past week, but Hurricane Sandy is creating uncertainty in the market. Price-monitoring website MaineGasPrices.com reports Monday that the average retail cost of a gallon of gas dropped by more than 10 cents to an average of $3.67. That’s still 11 cents above the national average.

Cognex reschedules earnings conference call

Cognex Corp. said that it is rescheduling a Monday conference on its third-quarter earnings to Thursday because Hurricane Sandy has prompted much of the Eastern Seaboard to declare a state of emergency. The call was originally scheduled for Monday at 5:00 p.m. eastern time; it has now been rescheduled for Thursday at 5:00 p.m. Eastern time. Cognex said it intends to issue its third quarter earnings tonight after the market closes, as originally scheduled.

Clean Harbors is buying Safety-Kleen for $1.25b

Clean Harbors is buying Safety-Kleen for $1.25 billion in cash as it looks to enter smaller markets and expand its waste treatment capabilities. Safety-Kleen Inc. is a re-refiner and recycler of used oil and provides parts cleaning and environmental services. It collects approximately 200 million gallons of used oil annually, the majority of which it returns to the marketplace as reusable motor oil. Clean Harbors Inc., based in Norwell, provides environmental, energy, and industrial services.

38 Studios auction in Providence brings in $650K

PROVIDENCE — A sell-off of items from the former headquarters of Curt Schilling’s failed video game company in Providence brought in about $650,000. More than 1,000 people registered to bid Tuesday on what was left of 38 Studios, including sophisticated animation equipment, office furniture, and figurines of Schilling. The gaming company’s receiver, Richard Land wasn’t immediately available to comment. Rhode Island’s Economic Development Corp. released the figure Friday.

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