Featuring BUD’s sale of 4 packaging plants; CVA’s decision to continue operations of its energy-from-waste facility; CX’s credit extension request; LDK’s recent partnership; STZ’s Q1 profit; and SD’s $258M asset sale.

Today’s Stock Alerts include: Anheuser-Busch Companies Inc. (NYSE: BUD), Convanta Holding Corp. (NYSE: CVA), CEMEX, S.A.B. de C.V. (NYSE: CX), LDK Solar Co. Ltd. (NYSE: LDK), Constellation Brands Inc. (NYSE: STZ) and SandRidge Energy Inc. (NYSE: SD).

Anheuser-Busch Companies Inc. (NYSE: BUD) Stock Alert – Anheuser-Busch InBev Sells Four U.S. Packaging Plants to Ball Corp. to Pay off Debt

Belgium brewer Anheuser-Busch InBev, parent company of Anheuser-Busch Companies Inc. (NYSE: BUD), said it will sell four U.S. packaging plants to Ball Corp. for $577, a move that would help the company pay off debt following its takeover of Anheuser-Busch, while focusing its remaining packaging business on beer cans. InBev acquired Anheuser-Busch for $52 billion last year.

According to the report, the divested plants, which make soft drinks cans, are in Wisconsin, Ohio and Georgia, while the divested lid plant is in Florida.

U.S. plastic and metal packaging products maker Ball Corp. agreed to enter into a long-term supply agreement to continue to supply Anheuser-Busch InBev with metal beverage cans and lids from the divested plants, the report said. In addition, it offered employment to the 635 active employees of the affected plants.

The deal is expected to close at the end of the year or early in the first quarter of 2010.

In a release, Anheuser-Busch InBev CEO Carlos Brito said, “the sale was another step in our deleveraging program, allowing us to rationalize capital while retaining those facilities that remain most relevant to our beer business.”

Anheuser-Busch is best known for Budweiser (the world’s largest selling beer) and Bud Light, as well as such labels as Busch and Michelob. Its beers lead the U.S. with a market share of some 48%. The company also owns a 50% stake in Mexico’s top brewer, GRUPO MODLEO, maker of Corona and Negra Modelo. In addition to beer, Anheuser-Busch produces energy drinks and non-alcoholic malt beverages. The company has several operations outside of brewing as well, including its Busch Entertainment theme-park business.

Convanta Holding Corp. (NYSE: CVA) Stock Alert – CVA Subsidiary to Continue Operating Detroit Energy-from-Waste Facility

Convanta Holding Corp. (NYSE: CVA) a subsidiary of Michigan Waste Energy recently said it will continue to operate the Energy-from-Waste Facility located in Detroit, Michigan. Covanta is an internationally recognized owner and operator of large-scale Energy-from-Waste and renewable energy projects and a recipient of the Energy Innovator Award from the U.S. Department of Energy’s Office of Energy Efficiency and Renewable Energy.

Convanta’s subsidiary has reportedly operated the Energy-from-Waste facility since 1991, providing services to the City of Detroit under contract with the Greater Detroit Resource Recovery Authority (GDRRA). According to the report, the facility processes about 800,000 tons of municipal solid waste, which are used to generate steam and electricity. Through this process, the facility has displaced more than 12 million tons of greenhouse gas emissions that would have occurred had GDRRA’s waste been land filled, the company said.

“We are extremely pleased that we will continue to operate the facility,” said Seth Myones, president of Covanta Americas. “Covanta has consistently maintained the highest environmental, health and safety standards and we are proud to provide Detroit with a sustainable means of waste disposal while also helping the City meet its growing need for renewable power.”

Covanta also announced it has completed an agreement to purchase a 30% interest in the Detroit facility. The company did not disclose the financial terms of the deal.

Covanta is a developer, owner and operator of infrastructure for the conversion of waste to energy (energy-from-waste), as well as other waste disposal and renewable energy production businesses in the Americas, Europe and Asia. EfW facilities, like the Detroit facility, provide environmentally sound waste disposal while generating clean, renewable energy. EfW facilities also recover ferrous and non-ferrous metals for recycling, reduce greenhouse gas emissions, and minimize the reliance on methane-emitting landfills and long distance transportation of municipal solid waste.

In its recent chart, CVA’s Bollinger Bands indicate a relatively stable condition as reflected by tighter than normal band width. Trading within its Bollinger Bands, the stock reflects neither an overbought nor oversold condition relative to its recent price trend. MACD reflects a strong bullish signal, with the indicator above the 9-day moving average signal line, and also above the 0 level, indicating that moving averages are trending higher. With share prices currently above the stock’s 13-day moving average, a bullish trend is indicated. Also, a rising moving average signals that there has been buying interest in this stock.

CEMEX, S.A.B. de C.V. (NYSE: CX) Stock Alert – CX Asks Creditors to Extend Maturities on all Bank Debt

Determined to strengthen its capital position amid weakened sales, CEMEX, S.A.B. de C.V. (NYSE: CX) is reportedly asking creditors to extend maturities on all bank debt to February 2014. The struggling company’s $14.5 billion in bank debt is currently due between 2009 and 2011, reports says.

Hurt by declining sales, the company reported in April its first-quarter net income of 2008 declined up to 99%, while revenue tumbled 32% to $3.66 billion from $5.40. Earlier this year, the company lost its investment-grade rating from rating agency Standard & Poor’s.

The company is reportedly meeting with banks in New York and Madrid this week to renegotiate its debt, but did not release details on what concessions or changes in interest rates it will offer creditors in exchange for stretching out its payment schedule.

“CEMEX is working to finalize the terms of a comprehensive refinancing plan with all our banks that would provide the company with greater flexibility and the ability to diversify sources of financing,” said CEMEX chairman and CEO Lorenzo Zambrano in a press release. “Having announced the $1.6 billion sale of our Australian assets along with sales of other non-strategic assets targeted for divestment, we have largely met our previously-stated goals for divestiture for 2009. We have also implemented a significant cost savings program, adjusting our operations to current market conditions. I am confident that the strategy we are pursuing is positioning CEMEX for a successful future.”

CEMEX is a Mexico-based holding company primarily engaged, through its operating subsidiaries, in the production, marketing, distribution and sale of cement, ready-mix concrete, aggregates and other construction materials.

As of December 31, 2008, the company operated 64 cement plants, over 2,288 ready-mix plants, 493 aggregate quarries, 253 land-distribution centers and 88 marine terminals. During the year ended December 31, 2008, CEMEX sold its operations in Italy, consisting of four cement grinding mill facilities. On March 31, 2008, CEMEX announced the sale, through a subsidiary, of AXTEL, S.A.B. de C.V. On December 26, 2008, CEMEX sold its Canary Island operations, consisting of cement and ready-mix concrete assets in Tenerife and 50% of the shares in two joint ventures, Cementos Especiales de las Islas, S.A. and Inprocoi, S.L. to several Spanish subsidiaries of Cimpor Cimentos de Portugal SCPS S.A.

In its recent chart, CX’s MACD reflects strong bearish signal, with the indicator below the 9-day moving average signal line, and also below the critical 0 level, indicating that moving averages are trending lower. Trading within its Bollinger Bands, the stock reflects neither an overbought nor oversold condition relative to its recent price trend. Bollinger Bands indicate a relatively stable condition as reflected by tighter than normal band width.

LDK Solar Co. Ltd. (NYSE: LDK) Stock Alert – LDK Enters into Supply Agreement with Italy-based Systems Integrator SAEM Srl

LDK Solar Co. Ltd. (NYSE: LDK) recently entered into a contract with Italy-based systems integrator SAEM Srl to build five 1-megawatt photovoltaic plants in the Apulia region of Italy, the press release said. LDK Solar is a leading manufacturer of multicrystalline solar wafers, which are the principal raw material used to produce solar cells.

According to the report, the China-based company will supply wafers for the project and SAEM will provide engineering, procurement and construction services, along with system integration.

Commenting on the partnership, LDK chairman and CEO Xiaofeng Peng said in a statement, “We are very eager to increase LDK Solar’s presence in Italy. The Italian PV market continues to be one of the most interesting in Europe and is forecasted to grow significantly over the next three years. Our agreement with SAEM is another noteworthy achievement for us as we work to strengthen our position in the PV power plants market in Europe and continue to build our foundation to capture future opportunities.”

For its part, SAEM group CEO Francesco Maggi made the following statement, “We believe that this partnership with LDK Solar reinforces the connection between SAEM and the world of PV manufacturing in a market that has strong potential. We look forward to working together on future projects to further capitalize on the growing opportunities in this market.”

LDK Solar said construction of the plants will begin in July, with an expected completion date of November. Financial terms of the deal were not disclosed.

LDK Solar sells multicrystalline wafers globally to manufacturers of photovoltaic (PV) products, including solar cells and solar modules. It produces and sells multicrystalline solar wafers between 180 and 220 microns in thickness.

In addition, the company provides wafer processing services to monocrystalline and multicrystalline solar cell and module manufacturers. It manufactures multicrystalline ingots from polysilicon feedstock in its directional solidification system (DSS) furnaces as an interim step in producing wafers. In addition to using solar-grade virgin polysilicon, the company also uses other polysilicon materials from various sources in its ingot manufacturing process. In addition, it also sells polysilicon materials, which include ingots and polysilicon scraps.

In its recent chart, LDK’s Bollinger Bands are the tightest they have been during the last 6 months, a condition which typically precedes periods of high volatility. Trading within its Bollinger Bands, the stock reflects neither an overbought nor oversold condition relative to its recent price trend. With share prices currently above the stock’s 13-day moving average, a bullish signal is indicated, weakened by significant liquidating volume as reflected by downward sloping moving averages.

Constellation Brands Inc. (NYSE: STZ) Stock Alert – STX Reports Decline in Q1 Profit, but Gives Upbeat Annual Earnings Outlook

Wine giant Constellation Brands Inc. (NYSE: STZ) today announced its first-quarter results for fiscal 2010. Investors were bullish on the stock on the company’s positive annual earnings outlook, despite a drop in first quarter profit.

For the three months ended May 3, the Fairport, N.Y.-based company posted earnings $6.5 million, or 3 cents a share, for the three months ended May 31, significantly down from $44.6 million, or 20 cents, in the same quarter a year earlier. Hit by currency translations as well as the divestiture of dozens of bottom-shelf spirits brands, the company said quarterly sales fell to $791.6 million from the prior year’s $931.8 million.

Excluding the charges, the company said it would have earned 33 cents per share for the quarter, narrowly topping the 32-cent estimate of analysts polled by Thomson Reuters. Analysts’ estimates normally exclude one-time items.

While the company sees key markets being impacted by planned SKU reductions and continuing economic pressures driving unfavorable sales mix, it said cost cuts are offsetting reductions in gross profit margin.

In the earnings report, CEO Rob Sands said, “We took steps over the past 18 months to shift the focus of our strategy to building must-have brands that return the greatest profits and that represent good value for consumers.”

Sands went on to say that during the May quarter, the company made progress on it global cost-reduction initiative which was implemented to mitigate the negative impacts of the turbulent global economy and to create efficiencies to drive long-term sustainable growth.

Looking forward, Constellation said it sees its profit for 12 months ending next February in a range between 97 cents a share and $1.07 a share, or $1.60 to $1.70 on a comparable basis, versus average analyst estimate of $1.51 a share, according to a poll by FactSet Research.

Constellation Brands is an international producer and marketer of beverage alcohol with a portfolio of wine brands complemented by spirits, imported beers and other select beverage alcohol products.

The company conducts its business through entities it wholly owns, as well as through a variety of joint ventures with various other entities, both within and outside the United States. It operates in the United States, Canada, United Kingdom, Australia and New Zealand. The company operates in three divisions: Constellation Wines, Constellation Spirits and Crown Imports. In March 2009, the company sold its value spirits business. In June 2008, the company sold certain businesses consisting of several California wineries and wine brands. In February 2008, the company sold its wine brands, including Almaden and Inglenook, and certain other assets.

In its recent chart, STZ’s MACD reflects a strong bullish signal, with the indicator above the 9-day moving average signal line, and also above the 0 level, indicating that moving averages are trending higher. Trading above its upper Bollinger Band, the stock reflects an overextended condition relative to its recent price action and is due for either a pause or retracement. Trading near its upper Bollinger Band, the stock suggests high price relative to its recent price action.

SandRidge Energy Inc. (NYSE: SD) Stock Alert – SD Closes Transactions worth $258 million

SandRidge Energy Inc. (NYSE: SD), an independent natural gas and oil company, recently announced the closing of the sale of its midstream assets and East Texas drilling rights, yielding $258 million in combined proceeds. Those transactions were previously announced by the company.

An entity formed and financed by Los Angeles-based TCW Asset Management Co. on behalf on institutional clients reportedly acquired SandRidge’s Piñon Gathering Co., which owns and operates approximately 370 miles of gas gathering lines located in the West Texas Overthrust in Pecos County, Texas, for $200 million.

In a release, Kurt Talbot, Chief Investment Officer of TCW’s energy business, stated, “We believe that the Piñon Field is poised for significant growth and that the gathering system owned by Piñon is the critical piece of infrastructure that will enable this growth to occur.”

According to the report, SandRidge will continue its role as operator of these midstream assets.

Separately, SandRidge sold drilling rights for about 22,000 acres in Gregg, Harrison and Rusk counties in east Texas, below the depth of the Cotton Valley formation, to a privately owned exploration and production company. It received proceeds of approximately $58 million from the sale.

With $258 million in combined proceeds, SandRidge said it will pay down borrowings from its revolving credit facility.

SandRidge Energy is focused on the exploration and exploitation of its holdings in the West Texas Overthrust (WTO), a natural gas prone geological region. The company owns related gas gathering and treating facilities, a gas marketing business and an oil field services business, including its drilling rig business, Lariat Services Inc.

In its recent chart, SD is trading within its Bollinger Bands, a normal condition signaling that the stock is neither overbought nor oversold relative to the recent price action. MACD reflects strong bearish signal, with the indicator below the 9-day moving average signal line, and also below the critical 0 level, indicating that moving averages are trending lower. With share prices currently below the stock’s 13-day moving average, the bearish sign is more pronounced with decreasing moving averages.

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