(Bloomberg) -- European stocks gained after British Sky Broadcasting Group Plc and Novo Nordisk A/S reported earnings that topped analysts' estimates and News Corp.'s bid for Dow Jones & Co. fueled speculation of takeovers among publishers.
``A positive earnings season will keep underpinning equities along with the fact that mergers and acquisitions continue to show a bullish trend,'' said Henk Potts, who helps oversee $45 billion at Barclays Stockbrokers in London.
Read more at Bloomberg Stocks News
Wednesday, May 2, 2007
L-1 Identity Solutions to buy Advanced Concepts
(Reuters) - The deal will add to 2007 earnings, the photo and fingerprint equipment maker said in a statement.
The acquisition will provide L-1 Identity with access to a wider customer base within the U.S. government and will add a greater depth of complementary services, it added.
Read more at Reuters.com Mergers News
The acquisition will provide L-1 Identity with access to a wider customer base within the U.S. government and will add a greater depth of complementary services, it added.
Read more at Reuters.com Mergers News
U.S. Stocks Rise for a Second Day on Earnings, Takeovers; MasterCard Jumps
(Bloomberg) -- U.S. stocks advanced for a second day after earnings topped analysts' estimates, bolstering confidence profit growth will endure as the economy slows.
MasterCard Inc. surged after the credit-card company posted a record profit because consumers charged more purchases. Results at Nortel Networks Corp., North America's biggest maker of telephone equipment, and Transocean Inc., the largest offshore oil and gas driller, also topped analysts' projections.
Read more at Bloomberg Stocks News
MasterCard Inc. surged after the credit-card company posted a record profit because consumers charged more purchases. Results at Nortel Networks Corp., North America's biggest maker of telephone equipment, and Transocean Inc., the largest offshore oil and gas driller, also topped analysts' projections.
Read more at Bloomberg Stocks News
Sherritt profit soars in first quarter
(Reuters) - Adjusted for higher stock-based compensation costs and shipment delays from the CN rail strike, earnings per share in the most recent quarter would have been 61 Canadian cents.
Read more at Reuters.com Market News
Read more at Reuters.com Market News
TREASURIES-Bonds rise slightly on weaker private jobs report
(Reuters) - ADP Employer Services, whose employment report was jointly developed with Macroeconomic Advisers LLC, said U.S. private employers likely added 64,000 jobs in April, down from a revised 98,000 in March. Analysts had been looking for an April reading of 100,000. For details see [ID:nNAT002668].
"The market is reacting somewhat bullishly," said James Caron, co-head of global rates research at Morgan Stanley in New York. "I wouldn't be surprised if the payrolls numbers come in on the weaker side, but the last two reports came in on the upside."
Read more at Reuters.com Bonds News
"The market is reacting somewhat bullishly," said James Caron, co-head of global rates research at Morgan Stanley in New York. "I wouldn't be surprised if the payrolls numbers come in on the weaker side, but the last two reports came in on the upside."
Read more at Reuters.com Bonds News
`Dream School' No More, North Carolina's Duke Loses Luster Amid Scandals
(Bloomberg) -- Duke University alumni sometimes refer to the Durham, North Carolina, school as the Harvard of the South. It's not the magnet it used to be.
Student and parent doubts are showing up in the admissions office. Applicants to Duke's freshman class fell 1.1 percent, the first drop in eight years. It was one of only two schools to sustain a decline among those ranked in the top 10 by U.S. News and World Report magazine. Ivy League colleges including Princeton University, meanwhile, had record applications.
Read more at Bloomberg Exclusive News
Student and parent doubts are showing up in the admissions office. Applicants to Duke's freshman class fell 1.1 percent, the first drop in eight years. It was one of only two schools to sustain a decline among those ranked in the top 10 by U.S. News and World Report magazine. Ivy League colleges including Princeton University, meanwhile, had record applications.
Read more at Bloomberg Exclusive News
Rohm and Haas sells European automotive coatings business
(Reuters) - The transaction, expected to close later this year, completes Rohm and Haas Co.'s divestiture of its automotive coatings business, which began in October 2006, the paint and coatings maker said in a statement.
Read more at Reuters.com Mergers News
Read more at Reuters.com Mergers News
Clorox quarterly profit rises
(Reuters) - Clorox had forecast a profit of 74 cents to 80 cents per share, while analysts, on average, had expected a profit of 77 cents per share, according to Reuters Estimates.
Last year, Clorox raised prices on several items, such as Brita water filters and Glad trash bags, to help offset higher commodity costs.
Read more at Reuters.com Business News
Last year, Clorox raised prices on several items, such as Brita water filters and Glad trash bags, to help offset higher commodity costs.
Read more at Reuters.com Business News
UPDATE 1-Garmin quarterly profit rises, revenue below estimates
(Reuters) - Shares of the company fell about 8 percent to $54.89 in early electronic trade, after closing at $59.37 in regular trade on Nasdaq Tuesday.
Revenue for the first quarter increased 53 percent to $492 million, missing analysts' view of $498.7 million.
Read more at Reuters.com Market News
Revenue for the first quarter increased 53 percent to $492 million, missing analysts' view of $498.7 million.
Read more at Reuters.com Market News
UPDATE 1-Domino's Pizza quarterly profit falls
(Reuters) - First-quarter net income was $8.4 million, or 13 cents per share, compared with $26.2 million, or 39 cents per share, a year ago.
The latest results include recapitalization-related expenses of 25 cents a share.
Read more at Reuters.com Market News
The latest results include recapitalization-related expenses of 25 cents a share.
Read more at Reuters.com Market News
Cigna profit falls, but beats Wall Street views
(Reuters) - Cigna reported adjusted income of $2.67 per share from operations. Analysts on average expected $2.51, according to Reuters Estimates.
The report is the last among large U.S. health insurers for the first quarter. The companies have generally reported higher or better-than-expected profits, but some of them worried investors because of a higher rate of medical costs eating into premium dollars.
Read more at Reuters.com Market News
The report is the last among large U.S. health insurers for the first quarter. The companies have generally reported higher or better-than-expected profits, but some of them worried investors because of a higher rate of medical costs eating into premium dollars.
Read more at Reuters.com Market News
PepsiCo raises dividend, share repurchase target
(Reuters) - The company's board also approved a higher level of share repurchases, authorizing buying back up to an additional $8 billion in common stock through mid-2010 -- once the current share repurchase authorization, which has $6 billion remaining, is complete.
Read more at Reuters.com Market News
Read more at Reuters.com Market News
Merrill Lynch to Sell Collateralized Debt Obligations Based on Currencies
(Bloomberg) -- Merrill Lynch & Co., the world's biggest brokerage, will introduce the first collateralized debt obligation based on foreign exchange contracts, the bank said.
CDOs were created by packaging assets such as debt or derivatives and using the income to pay investors. In the past two years investors have bought into CDOs backed by equities and commodities as it can allow them to achieve a higher yield. Currency CDOs are derived from foreign-exchange contracts that pay the buyer when a currency reaches an agreed level.
Read more at Bloomberg Currencies News
CDOs were created by packaging assets such as debt or derivatives and using the income to pay investors. In the past two years investors have bought into CDOs backed by equities and commodities as it can allow them to achieve a higher yield. Currency CDOs are derived from foreign-exchange contracts that pay the buyer when a currency reaches an agreed level.
Read more at Bloomberg Currencies News
Time Warner posts higher-than-expected profit
(Reuters) - The year-earlier results included a gain of 6 cents per share from a string of asset and investment sales.
Revenue rose 9 percent to $11.2 billion, while analysts on average were expecting $11.1 billion, according to Reuters Estimates.
Read more at Reuters.com Business News
Revenue rose 9 percent to $11.2 billion, while analysts on average were expecting $11.1 billion, according to Reuters Estimates.
Read more at Reuters.com Business News
TREASURIES-Bonds extend losses as stocks set to rise
(Reuters) - Despite that sharp sell-off, bond yields have been relatively range-bound in recent weeks.
"The torture we feel as yields rest uncomfortably in the middle of months-long ranges is that the coincident and lagging indicators -- ISM manufacturing, employment and inflation and consumption data -- are showing enough strength to keep the bears locked into their positions and the Fed on the offensive," said William O'Donnell, head of U.S. interest rate strategy with UBS in Stamford, Connecticut.
Read more at Reuters.com Bonds News
"The torture we feel as yields rest uncomfortably in the middle of months-long ranges is that the coincident and lagging indicators -- ISM manufacturing, employment and inflation and consumption data -- are showing enough strength to keep the bears locked into their positions and the Fed on the offensive," said William O'Donnell, head of U.S. interest rate strategy with UBS in Stamford, Connecticut.
Read more at Reuters.com Bonds News
Heidrick quarterly profit jumps
(Reuters) - Analysts, on average, expected profit of 45 cents per share, according to Reuters Estimates.
Read more at Reuters.com Market News
Read more at Reuters.com Market News
UPDATE 1-NRG Energy first-quarter earnings rise
(Reuters) - Net income increased to $65 million, or 41 cents a share, from $26 million, or 13 cents, a year earlier.
Total operating revenue in the quarter rose to $1.31 billion from $1.04 billion in the year-ago period.
Read more at Reuters.com Mergers News
Total operating revenue in the quarter rose to $1.31 billion from $1.04 billion in the year-ago period.
Read more at Reuters.com Mergers News
Gap is considering layoffs to cut costs: paper
(Reuters) - Gap spokesman Greg Rossiter told the Post that layoffs were part of the company's cost-control plan but said they would be a relatively small percentage of the total work force.
Gap wasn't immediately available for comment.
Read more at Reuters.com Business News
Gap wasn't immediately available for comment.
Read more at Reuters.com Business News
Treasury May Announce Elimination of Three-Year Note, Bond Dealers Say
(Bloomberg) -- The U.S. Treasury may announce today it's eliminating the three-year note because a smaller budget deficit is reducing borrowing needs, according to bond dealers and strategists.
The government may say in its refunding statement that it will sell $14 billion of three-year notes this month in the final issue of the maturity, a Bloomberg News survey of seven strategists showed.
Read more at Bloomberg Bonds News
The government may say in its refunding statement that it will sell $14 billion of three-year notes this month in the final issue of the maturity, a Bloomberg News survey of seven strategists showed.
Read more at Bloomberg Bonds News
ICE quarterly profit nearly triples
(Reuters) - Analysts, on average, had forecast earnings of 71 cents a share before special items, according to Reuters Estimates.
Read more at Reuters.com Market News
Read more at Reuters.com Market News
UPDATE 1-Macquarie closes $10.3 bln infrastructure funds
(Reuters) - The two funds have already committed $4.5 billion in 13 assets, including a toll road in Virginia and Telefonica's radio network Airwave, Macquarie said on Wednesday.
Macquarie European Infrastructure Fund II will invest in eight to 15 infrastructure assets with $6.3 billion, while Macquarie Infrastructure Partners has $4 billion for investments in North America.
Read more at Reuters.com Bonds News
Macquarie European Infrastructure Fund II will invest in eight to 15 infrastructure assets with $6.3 billion, while Macquarie Infrastructure Partners has $4 billion for investments in North America.
Read more at Reuters.com Bonds News
Hungary May Abandon Forint Band in `Year Ahead,' Central Banker Says
(Bloomberg) -- Hungarian central banker Gyorgy Kopits said trading limits for the forint may end ``in the year ahead,'' allowing the nation's currency to strengthen more.
The forint now moves between 240.01 and 324.71 per euro. Its strongest ever was 234.39, reached in January 2003. The government and central bank have no official plan to abolish the trading limit, saying inflation can be slowed with the current system.
Read more at Bloomberg Emerging Markets News
The forint now moves between 240.01 and 324.71 per euro. Its strongest ever was 234.39, reached in January 2003. The government and central bank have no official plan to abolish the trading limit, saying inflation can be slowed with the current system.
Read more at Bloomberg Emerging Markets News
CB&I first-quarter profit rises sharply
(Reuters) - Revenue increased 33 percent to $857.3 million.
Analysts on average had expected profit of 30 cents per share on revenue of $862.8 million, according to Reuters Estimates.
Read more at Reuters.com Market News
Analysts on average had expected profit of 30 cents per share on revenue of $862.8 million, according to Reuters Estimates.
Read more at Reuters.com Market News
Time Warner posts profit on cable, AOL
(Reuters) - The year-earlier results included a gain of 6 cents per share from a string of asset and investment sales.
Revenue rose 9 percent to $11.2 billion, while analysts on average were expecting $11.1 billion, according to Reuters Estimates.
Read more at Reuters.com Market News
Revenue rose 9 percent to $11.2 billion, while analysts on average were expecting $11.1 billion, according to Reuters Estimates.
Read more at Reuters.com Market News
Platinum Falls as Demand Slows in Japan Due to Holiday; Palladium Rebounds
(Bloomberg) -- Platinum fell in London as demand in Japan slowed because of holidays.
Japan was the biggest market for platinum jewelry and glass applications last year, accounting for 18 percent of total demand, a report last week from London-based research company GFMS Ltd. showed. Markets in Japan have been shut since two days ago and will be closed tomorrow and May 4 for the ``Golden Week'' holidays.
Read more at Bloomberg Commodities News
Japan was the biggest market for platinum jewelry and glass applications last year, accounting for 18 percent of total demand, a report last week from London-based research company GFMS Ltd. showed. Markets in Japan have been shut since two days ago and will be closed tomorrow and May 4 for the ``Golden Week'' holidays.
Read more at Bloomberg Commodities News
Dresdner Kleinwort Hires Goldman's Radhakishun for Securitized Finance
(Bloomberg) -- Dresdner Kleinwort, the investment banking unit of Allianz SE's Dresdner Bank, said it hired Vijay Radhakishun to run its securitized finance unit.
Radhakishun was a managing director in Goldman Sachs Group Inc.'s special situations group, Dresdner said in a statement. At Dresdner he will be based in London and will report to Garrett Curran, head of global finance.
Read more at Bloomberg Bonds News
Radhakishun was a managing director in Goldman Sachs Group Inc.'s special situations group, Dresdner said in a statement. At Dresdner he will be based in London and will report to Garrett Curran, head of global finance.
Read more at Bloomberg Bonds News
Scots May Rebuke Labour, Undermine Native Son Brown in Parliament Election
(Bloomberg) -- Scotland votes tomorrow in an election that may jeopardize the Labour Party's dominance a week before U.K. Prime Minister Tony Blair is expected to pave the way for Scottish native son Gordon Brown, the chancellor of the exchequer, to succeed him.
The Scottish National Party, which is seeking independence from the rest of Britain, leads Labour in opinion polls on the eve of elections to the parliament in Edinburgh. A defeat for Blair's and Brown's Labour would mean the end of the party's half-century domination of Scottish politics.
Read more at Bloomberg Exclusive News
The Scottish National Party, which is seeking independence from the rest of Britain, leads Labour in opinion polls on the eve of elections to the parliament in Edinburgh. A defeat for Blair's and Brown's Labour would mean the end of the party's half-century domination of Scottish politics.
Read more at Bloomberg Exclusive News
Emissions Credit Demand Will Exceed Supply Up to 2012, World Bank Says
(Bloomberg) -- Demand for emission credits created under the 1997 Kyoto Protocol will exceed supply in the five years through 2012, the World Bank said in a report.
Demand from European nations and companies, as well as Japan and New Zealand, will reach 2 billion metric tons of carbon dioxide equivalent, compared with 1.7 billion tons of likely supply, according to the report handed to reporters today at the Carbon Expo conference in Cologne, Germany. The value of total trading in 2006 tripled to $30 billion from 2005, the report said.
Read more at Bloomberg Energy News
Demand from European nations and companies, as well as Japan and New Zealand, will reach 2 billion metric tons of carbon dioxide equivalent, compared with 1.7 billion tons of likely supply, according to the report handed to reporters today at the Carbon Expo conference in Cologne, Germany. The value of total trading in 2006 tripled to $30 billion from 2005, the report said.
Read more at Bloomberg Energy News
Carbon market tripled in 2006 - World Bank
(Reuters) - The global carbon market last year tripled to $30 billion from $11 billion in 2005, the World Bank's carbon finance unit said on Wednesday.
The emissions trading scheme of the European Union, the world's largest carbon market, accounted for $24 billion, up from $8 billion, the Bank said in a report presented at a news conference during a trade fair in Cologne.
Read more at Reuters Africa
The emissions trading scheme of the European Union, the world's largest carbon market, accounted for $24 billion, up from $8 billion, the Bank said in a report presented at a news conference during a trade fair in Cologne.
Read more at Reuters Africa
UPDATE 1-Alvarion 1Q net loss narrows on higher sales
(Reuters) - Alvarion reported a loss of $623,000, or 1 cent per share, compared with a loss of $4.97 million, or 8 cents a share, in the year-earlier quarter.
Excluding special items and discontinued operations, the company reported a net profit of $1.3 million, or 2 cents per share, compared with $1.5 million, or 2 cents per share, a year earlier.
Read more at Reuters.com Market News
Excluding special items and discontinued operations, the company reported a net profit of $1.3 million, or 2 cents per share, compared with $1.5 million, or 2 cents per share, a year earlier.
Read more at Reuters.com Market News
Lonmin Posts Second Consecutive First-Half Loss as Platinum Output Drops
(Bloomberg) -- Lonmin Plc, the world's third-biggest platinum producer, posted its second consecutive first-half loss after a damaged furnace cut production and costs rose.
The loss was $3 million, or 2 cents a share, in the six months to March 31, compared with $67 million, or 47.1 cents, a year earlier, the London-based company said today in a statement. Sales fell 11 percent to $631 million.
Read more at Bloomberg Emerging Markets News
The loss was $3 million, or 2 cents a share, in the six months to March 31, compared with $67 million, or 47.1 cents, a year earlier, the London-based company said today in a statement. Sales fell 11 percent to $631 million.
Read more at Bloomberg Emerging Markets News
Polish Zloty Advances Versus Euro as Emerging Markets Risk Aversion Wanes
(Bloomberg) -- Poland's zloty rose the most in almost two weeks versus the euro as risk aversion toward emerging markets waned after the Turkish government took actions aimed at easing tensions with the military.
Turkish stocks and bonds soared today after the cabinet said it was ready to hold early elections and may change the constitution. The move helped ease investors' concerns and buoyed other emerging markets assets, including the zloty, Hungarian forint and Slovakia's koruna.
Read more at Bloomberg Currencies News
Turkish stocks and bonds soared today after the cabinet said it was ready to hold early elections and may change the constitution. The move helped ease investors' concerns and buoyed other emerging markets assets, including the zloty, Hungarian forint and Slovakia's koruna.
Read more at Bloomberg Currencies News
European Stocks Climb, Paced by BSkyB, Allianz; Lagardere and RCS Advance
(Bloomberg) -- European stocks gained after British Sky Broadcasting Group Plc and Allianz SE reported earnings that topped analysts' estimates and News Corp.'s bid for Dow Jones & Co. of the U.S. fueled speculation of takeovers among publishers.
BSkyB, a U.K. satellite pay television company, climbed the most in more than four years. Allianz, Europe's biggest insurer, advanced to the highest in two months. Lagardere SCA and RCS MediaGroup SpA led gains by publishing companies.
Read more at Bloomberg Stocks News
BSkyB, a U.K. satellite pay television company, climbed the most in more than four years. Allianz, Europe's biggest insurer, advanced to the highest in two months. Lagardere SCA and RCS MediaGroup SpA led gains by publishing companies.
Read more at Bloomberg Stocks News
Turkish Stocks, Bonds Soar as Government Prepares for National Elections
(Bloomberg) -- Turkish stocks and bonds soared after the government said it was ready to hold early elections and may change the constitution, actions aimed at easing tensions with the military.
Yields on lira-denominated government debt maturing in February 2009 fell 36 basis points to 18.89 percent at 10:02 a.m. in Istanbul. The benchmark stock index was 4.1 percent higher. The lira fell 0.1 percent to 1.3567 against the dollar after rising 0.6 percent last night on the decision.
Read more at Bloomberg Emerging Markets News
Yields on lira-denominated government debt maturing in February 2009 fell 36 basis points to 18.89 percent at 10:02 a.m. in Istanbul. The benchmark stock index was 4.1 percent higher. The lira fell 0.1 percent to 1.3567 against the dollar after rising 0.6 percent last night on the decision.
Read more at Bloomberg Emerging Markets News
European Stocks May Rise, Led by Lagardere, RCS; Credit Suisse May Advance
(Bloomberg) -- European stocks may gain, paced by media companies including Lagardere SCA and RCS MediaGroup SpA after News Corp. offered to buy Dow Jones & Co. of the U.S.
``There could be a move to consolidate'' in the media sector, said Stephen Pope, head of equities research at Cantor Fitzgerald Europe in London. ``You are going to see some companies will fall by the way and some will be snapped up. I would expect an upward move in the stocks today.''
Read more at Bloomberg Stocks News
``There could be a move to consolidate'' in the media sector, said Stephen Pope, head of equities research at Cantor Fitzgerald Europe in London. ``You are going to see some companies will fall by the way and some will be snapped up. I would expect an upward move in the stocks today.''
Read more at Bloomberg Stocks News
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