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Financialbussinessnews.US: FinancialBusinessNews.US: Stock News: SWC & CNTF
Boston, MA, Nov 18, 2008 (M2 PRESSWIRE via COMTEX) --
STILLWATER MINING COMPANY (NYSE: SWC); China TechFaith Wireless Communication Technology Limited (NASDAQ: CNTF)
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STILLWATER MINING COMPANY (NYSE: SWC) closed at $2.35 Monday, trading 409,600 shares.
Company News- November 17, 2008: Stillwater Mining Company Completes Review of Operations: Will Restructure Operations and Reduce Workforce
STILLWATER MINING COMPANY (NYSE: SWC) announced yesterday immediate plans to restructure its operations and reduce and redeploy portions of its workforce. The move is largely focused on the Company's East Boulder Mine operations south of Big Timber, although the Company's Stillwater Mine at Nye, Columbus Metallurgical operations, and administrative offices in Columbus and Billings are also affected. The action follows the previously announced decision to review all operations in the face of the rapid third quarter deterioration in economic conditions during which prices for palladium and platinum, the Company's primary products, fell more than 60% from levels earlier in the year.
To read the full news release, go to www.stockprofiler.us, and click the Headline link after entering the ticker symbol.
About Stillwater Mining Company
Stillwater Mining Company is the only U.S. producer of palladium and platinum and is the largest primary producer of platinum group metals outside of South Africa and Russia. The Company's shares are traded on the New York Stock Exchange under the symbol SWC. Information on Stillwater Mining Company can be found at its web site: www.stillwatermining.com.
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China TechFaith Wireless Communication Technology Limited (NASDAQ: CNTF) closed at $0.83 Monday, trading 141,800 shares.
Company News- November 17, 2008: TechFaith Announces Updated Dial-In Numbers for Third Quarter Results Conference Call
China TechFaith Wireless Communication Technology Limited (NASDAQ: CNTF), an original developed product provider focused on research and development of cell phone solutions, today announced that the dial-in information for the third quarter 2008 results conference has been updated. Please disregard the previous dial-in information that is posted on the third quarter 2008 earnings release.
To read the full news release, go to www.stockprofiler.us, and click the Headline link after entering the ticker symbol.
About TechFaith
TechFaith is an original developed product provider focused on research and development of cell phone solutions. Based in China, TechFaith employs approximately 700 professionals, of whom approximately 90% are engineers. TechFaith engages in the development and production of middle to high end handsets and tailor made handsets. TechFaith's original developed products include: (1) multimedia phones and dual mode dual card handsets of multiple wireless technology combination such as GSM/GSM, GSM/CDMA, GSM/WCDMA, GSM/TD-SCDMA and UMTS/CDMA; (2) Window based smartphone and Pocket PC phone; and (3) handsets with interactive online gaming and professional game terminals with phone functionality.
With the capability of developing MMI/UI software on 2G/2.5G(GSM/GPRS, CDMA1X), 3G(EV-DO, WCDMA/UMTS, TD-SCDMA) and 3.5G(HSDPA) communication technologies, TechFaith is able to provide MMI/UI software packages that fulfill the specifications of handset brand owners and carriers in the global market. For more information, please visit www.techfaithwireless.com
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