Delta Air Lines May be Buying 50 Wide-Body Jets and Ocean Power Technologies Offers 3.8M Shares at $3.10 a Share.
Delta Air Lines Inc. (NYSE: DAL) may possibly be buying as many as 50 wide-body jets, the airline said on Thursday. This would open a contest between Airbus and Boeing Co for business with the company for worth well over $10 billion at list prices. Delta said it was studying replacements for its Boeing 747-400 and 767-300ER jets, which have an average age of some 20 years and burn more fuel than newer planes. "Delta is evaluating widebody aircraft opportunities with a request for proposals" for up to 50 planes, a spokesman told Reuters on Thursday.
Delta Air Lines, Inc. provides scheduled air transportation for passengers and cargo worldwide. Its route network comprises various gateway airports in Amsterdam, Atlanta, Cincinnati, Detroit, Memphis, Minneapolis-St. Paul, New York-LaGuardia, New York-JFK, Paris-Charles de Gaulle, Salt Lake City, Seattle, and Tokyo-Narita.
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Ocean Power Technologies, Inc. (NASDAQ: OPTT) shares closed down nearly 20% on Friday after pricing its previously announced public offering. The company said it would offer 3.8 million shares at $3.10 a share. Underwriters have also been granted a 30-day option to acquire up to an additional 570,000 shares to cover overallotments. Ocean Power expects to receive net proceeds of $10.8 million, which it says it may use for working capital, capital expenditures and general corporate purposes. The proceeds may also be used in the development, testing and demonstrations of its PowerBuoy systems. The offering is expected to close on April 9, subject to customary closing conditions.
Ocean Power Technologies, Inc. engages in the development and commercialization of proprietary systems that generate electricity by harnessing the renewable energy of ocean waves primarily in the United States, Europe, Asia, and Australia. It offers utility PowerBuoy system to supply electricity to a local or regional electric power grid; and autonomous PowerBuoy system that is designed to generate power for use independent of the power grid in remote locations. The company sells its products to public utilities, independent power producers, and other governmental entities and agencies, as well as public and private entities that use electricity in and near the ocean.
Get more information on Ocean Power Technologies, Inc. free access to the in depth equity report at: www.TrendingWallStreet.com/stockquote/OPTT
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