To: Jenna who wrote (82647 ) 2/11/2000 11:35:00 AM From: Jenna Read Replies (3) | Respond to of 120523
PLUG earnings coming out next Monday or Tuesday.. anticipation here. At any rally PLUG could fly. Looking to close other long positions before trailing stop hits. Trying to cash in on the puts and short positions. SIFY reminds me of PLUG... too much short potential to ignore. Going short on day highs or off is the way I played RNWK, SNDK, PLUG, SIFY, WGRD.. SIFY doesn't seem to work that way as it moves higher yet.. with SIFY if it drops below 45% of intraday range on 5-10 minute chart I'll close the long position and try another short. Texaco Outlines Plans for Alliances, Cost Cutting, Asset Sales By David Wells White Plains, New York, Feb. 10 (Bloomberg) -- Texaco Inc., said it may renegotiate its refining alliance with the Royal Dutch/Shell Group and Saudi Refining Co. as larger rivals pressure its returns. The refining alliance, the biggest seller of gasoline in the U.S., is made up of two joint ventures. Texaco Chief Executive Peter Bijur said the boards of the ventures are discussing ways to compete with companies created by recent mergers -- Exxon Mobil Corp., the world's largest publicly traded oil company, and BP Amoco Plc, the third-largest. Bijur said Texaco hasn't completed a merger itself because it hasn't found a good partner. ''We've looked at a number of opportunities,'' Bijur told analysts today at a meeting at the company's headquarters in White Plains, New York. Texaco executives said the company expects to raise more than $700 million by next quarter from sales of oil and natural-gas fields, and that its cost-cutting program has exceeded its goals. The company cut $743 million in expenses last year, more than the Texaco also said it wants to form a joint venture this year with a fuel-cell company as electric generators and automakers accelerate efforts to use the power systems. Fuel cells combine hydrogen and oxygen to generate electricity, emitting far less pollution than current auto engines or fossil-fuel-fired power plants. Texaco said its business unit that turns fuels such as refinery residues and coal into gases could also produce hydrogen for fuel cells. ''We have been deluged with inquiries,'' said William Wicker, senior vice president of corporate development. ''We want to be a major player in this new business.'' Texaco said it has had discussions with fuel-cell companies, but wouldn't name them. It has also talked with ''all the auto companies,'' William Wicker, Texaco's senior vice president of corporate development said. The company is also in talks to form an alliance with an unnamed natural-gas pipeline company in Louisiana, and wants to form an alliance for its gas-processing business. Texaco wouldn't name the pipeline company.