Delta, Halliburton: Monday's Headlines

Monday's Early Headlines

• Official: Seep Found Near BP Well -- A federal official said a seep and possible methane have been seen near BP's (BP) broken oil well in the Gulf of Mexico, according to an Associated Press report. Both are possible indications that the well has sprung a new leak or leaks following three days of testing of a new cap that has prevented any new oil from spewing into the Gulf of Mexico. The official, who spoke on the condition of anonymity, said the energy company is not complying with the federal government's demand for more monitoring, the AP report said.
• Moody's Downgrades Ireland's Government Bond Ratings -- Moody's Investors Service said Monday it has downgraded Ireland's government bond ratings to Aa2 from Aa1, citing the country's "significant" loss of financial strength, weakened growth prospects and the "crystallization of contingent liabilities from the banking system." Moody's said the ratings outlook for Ireland has been raised to stable from negative as the rating agency now views the upside and downside risks as being evenly balanced at the current rating level. "Today's downgrade is primarily driven by the Irish government's gradual but significant loss of financial strength, as reflected by its deteriorating debt affordability," Moody's Senior Credit Officer and lead analyst for Ireland Dietmar Hornung said in the release.
• Hiring Improves But Growth Slows: NABE Survey -- The National Association for Business Economics said its July survey showed that job creation trends continued to improve in the second quarter. The percentage of firms increasing payrolls increased to 31% while the percentage of firms cutting jobs continued to move lower from 36% a year ago to 14% this July. Expectations for economic growth in 2010 remained positive, the survey showed, although expectations declined slightly from the previous quarter. All NABE panelists again indicated business decisions are being made based on expectations for positive economic growth in 2010, the survey showed, although only 20% of survey respondents believe real GDP will expand by more than 3% compared with 24% of survey respondents who expected that rate of growth in April.
• Motorola Sells Wireless Operations to Nokia Siemens -- Nokia Siemens Networks said it will acquire the majority of Motorola's (MOT) wireless operations for $1.2 billion in cash. The companies expect to complete closing activities by the end of 2010, subject to customary closing conditions including regulatory approvals. As part of the transaction, Nokia Siemens expects to gain incumbent relationships with more than 50 operators and to strengthen its position with China Mobile (CHL), Clearwire (CLWR), KDDI, Sprint (S), Verizon Wireless and Vodafone (VOD).
• AIG Names Tucker as New Head of Asia Unit -- American International Group (AIG) named Mark Tucker, former CEO of the U.K.'s Prudential PLC (PUK), to lead its Asian life insurance business. Tucker takes over as head of American International Assurance from Mark Wilson, who has led the company since 2009. AIG said in a statement Monday it would seek to list AIA on the Hong Kong stock exchange.
• Boeing Gets $9.1 Billion Order for 777 Jets -- Boeing (BA) received an order for 30 Boeing 777-300ER planes, worth $9.1 billion in list prices, from Dubai's Emirates airline. The order, announced Monday at the Farnborough International Airshow, adds to the 71 models of the same aircraft previously bought by Emirates, according to The Associated Press.
• ATC Technology To Be Acquired for $512.6 Million -- ATC Technology (ATAC) reached an agreement to be acquired for $25 a share by Genco Distribution System, a privately held third-party provider of logistics services. The all-cash acquisition is valued at $512.6 million. The deal is expected to close in the fourth quarter. Shares of ATC Technology rallied 40.3% to $24.45 in Monday's premarket session.

-- Written by Robert Holmes in Boston.

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