(Bloomberg) -- Orange-juice futures in New York gained for a second week on supply concerns amid speculation an early storm signals an active hurricane season in Florida, and a drought might hurt the state's groves.
Andrea, the first-named storm of this hurricane season, formed three weeks before the June start of the season. While the storm weakened today to a subtropical depression off the Florida coast, it arrived at a time when a drought reduced water levels. Fires were burning in 54 of the state's 67 counties this morning, the Florida Division of Emergency Management said.
Read more at Bloomberg Commodities News
Friday, May 11, 2007
Deutsche Forfait prices IPO at 7.00-7.50 euro/shr
(Reuters) - The subscription period will start on Monday and will end on May 22. The stock is due to start trading on the Frankfurt stock exchange on May 24.
M.M. Warburg, which holds 30 percent in Deutsche Forfait, and Equinet are managing the initial public offering.
Read more at Reuters.com Bonds News
M.M. Warburg, which holds 30 percent in Deutsche Forfait, and Equinet are managing the initial public offering.
Read more at Reuters.com Bonds News
FDA vote sends Amgen investors for exits
(Reuters) - The medicines -- Amgen's Aranesp and Epogen and J&J's Procrit -- had already been under considerable pressure as a raft of negative clinical news led to questions about their potential overuse and the possible harm they could be doing.
The cloud that got darker in March, when the U.S. Food and Drug Administration added new warnings to the drugs' labels, turned black on Thursday when the advisory panel came down hard on the marketing and use of the anemia drugs that had combined sales of $10 billion last year.
Read more at Reuters.com Business News
The cloud that got darker in March, when the U.S. Food and Drug Administration added new warnings to the drugs' labels, turned black on Thursday when the advisory panel came down hard on the marketing and use of the anemia drugs that had combined sales of $10 billion last year.
Read more at Reuters.com Business News
Telecom Argentina sees operating margin rising
(Reuters) - On the call to discuss the quarterly report, Chief Financial Officer Valerio Cavallo said improvements in the cellular business offset by a gradual decrease in the fixed- line segment meant that, by year's end, "we should be seeing 20 percent operating margin."
Telecom Argentina, which has about 30 percent of the Argentine mobile phone market, reported first-quarter net profit soared to 135 million pesos , compared with 3 million pesos a year earlier, as the company completes a recovery from the country's deep economic crisis in 2001-02.
Read more at Reuters.com Bonds News
Telecom Argentina, which has about 30 percent of the Argentine mobile phone market, reported first-quarter net profit soared to 135 million pesos , compared with 3 million pesos a year earlier, as the company completes a recovery from the country's deep economic crisis in 2001-02.
Read more at Reuters.com Bonds News
ThyssenKrupp lifts forecast; 2nd-qtr adj profit up
(Reuters) - FRANKFURT, May 11 - German industrial conglomerate ThyssenKrupp for the full 2006/07 year on sales of roughly 50 billion, adding it now has more ambitious targets for 2010 as well.
Read more at Reuters.com Bonds News
Read more at Reuters.com Bonds News
Tyco Threatens to Withdraw Bondholder Consent Rights Under Breakup Plan
(Bloomberg) -- Tyco International Ltd. threatened to take away the right of bondholders to approve its breakup plan after more than two-thirds of its debt investors refused to tender their securities because they say they offer is too low.
Tyco may waive the ``majority consent'' covenant in its bond indentures, the Bermuda-based company said in a press release today. Tyco bondholder American International Group Inc. this week sued the owner of ADT security systems in an effort to block it from buying back $6.6 billion of debt as part of a plan to split into three companies.
Read more at Bloomberg Bonds News
Tyco may waive the ``majority consent'' covenant in its bond indentures, the Bermuda-based company said in a press release today. Tyco bondholder American International Group Inc. this week sued the owner of ADT security systems in an effort to block it from buying back $6.6 billion of debt as part of a plan to split into three companies.
Read more at Bloomberg Bonds News
UPDATE 4-ThyssenKrupp lifts forecast; 2nd-qtr adj profit up
(Reuters) - FRANKFURT, May 11 - German industrial conglomerate ThyssenKrupp for the full 2006/07 year on sales of roughly 50 billion.
Read more at Reuters.com Market News
Read more at Reuters.com Market News
Treasuries Little Changed as Retail Sales Decline, Business Purchases Gain
(Bloomberg) -- Treasuries were little changed after a government report showed retail sales in the U.S. fell in April for the first time in seven months while business sales jumped the most in a year.
The Commerce Department's report on business sales also showed inventories unexpectedly dropped, suggesting the economy may be bolstered by companies in a position to boost orders and production in coming months.
Read more at Bloomberg Bonds News
The Commerce Department's report on business sales also showed inventories unexpectedly dropped, suggesting the economy may be bolstered by companies in a position to boost orders and production in coming months.
Read more at Bloomberg Bonds News
TREASURIES-Weak retail, inflation data lifts bonds
(Reuters) - NEW YORK, May 11 - U.S. government bonds rose on Friday after surprisingly weak data on retail sales and underlying producer price inflation boosted hopes that the Federal Reserve could cut rates earlier than expected.
The gains briefly pushed benchmark 10-year yields to their lowest since late March, but the rally was tempered by the stock market, which bounded back from Thursday's selloff on the signs of moderating inflation.
Read more at Reuters.com Bonds News
The gains briefly pushed benchmark 10-year yields to their lowest since late March, but the rally was tempered by the stock market, which bounded back from Thursday's selloff on the signs of moderating inflation.
Read more at Reuters.com Bonds News
Moroccan Benchmark Slumps for a Third Day: World's Biggest Mover
(Bloomberg) -- Moroccan stocks fell for a third day on speculation gains that sent the market to a record high this year overstate prospects for earning growth.
Afriquia Gaz, a gas distributor whose shares have surged 38 percent in 2007, led the decline.
Read more at Bloomberg Stocks News
Afriquia Gaz, a gas distributor whose shares have surged 38 percent in 2007, led the decline.
Read more at Bloomberg Stocks News
US stock indexes rise on easing inflation worries
(Reuters) - U.S. stocks climbed on Friday, recovering from their steepest drop in two months, after core producer price data pointed to moderating inflation, boosting the case for the Federal Reserve to trim interest rates.
Shares of rate-sensitive financial services stocks such as Goldman Sachs Group Inc. and Merrill Lynch were among top gainers. Energy stocks were also broadly higher as oil futures rose.
Read more at Reuters Africa
Shares of rate-sensitive financial services stocks such as Goldman Sachs Group Inc. and Merrill Lynch were among top gainers. Energy stocks were also broadly higher as oil futures rose.
Read more at Reuters Africa
Colombia's Peso Reaches Seven-Year High on Outlook for Foreign Investments
(Bloomberg) -- Colombia's peso reached a seven-year high on expectations that strong growth will continue attracting foreign investment.
``Strong economic growth and expectations a free trade agreement with the U.S. will go through will continue to attract foreign direct investment,'' said Julian Ramirez, an analyst at Bogota-based Fiducor SA.
Read more at Bloomberg Currencies News
``Strong economic growth and expectations a free trade agreement with the U.S. will go through will continue to attract foreign direct investment,'' said Julian Ramirez, an analyst at Bogota-based Fiducor SA.
Read more at Bloomberg Currencies News
Net, Petroleo Brasileiro, TAM and Universo Online: Brazilian Equity Movers
(Bloomberg) -- Brazilian stocks rose for the second time in three days, led by Petroleo Brasileiro SA, the state- controlled oil company.
The Bovespa index of the most-traded stocks on the Sao Paulo stock exchange rose 429.01, or 0.9 percent, to 50,663.69, at 10:18 a.m. New York time.
Read more at Bloomberg Stocks News
The Bovespa index of the most-traded stocks on the Sao Paulo stock exchange rose 429.01, or 0.9 percent, to 50,663.69, at 10:18 a.m. New York time.
Read more at Bloomberg Stocks News
CORRECTED - Penthouse settles accounting fraud case with SEC
(Reuters) - Former Penthouse executive Charles Samel and former shareholder Jason Galanis also agreed to each pay $60,000 to settle accounting fraud charges, the SEC said.
Penthouse, the adult magazine, was published by Penthouse International, a holding company which also had movies, online content and entertainment clubs.
Read more at Reuters.com Government Filings News
Penthouse, the adult magazine, was published by Penthouse International, a holding company which also had movies, online content and entertainment clubs.
Read more at Reuters.com Government Filings News
Canadian Stocks Rise, Led by Thomson, on Unit Sale; Energy Shares Advance
(Bloomberg) -- Canadian stocks gained for the first time in three days, led by Thomson Corp., which sold its higher education assets for $7.75 billion in cash.
The Standard & Poor's/TSX Composite Index added 50.68, or 0.4 percent, to 13,903.81 as of 9:43 a.m. in Toronto. The benchmark approached its record of 13,915.36 set May 8.
Read more at Bloomberg Stocks News
The Standard & Poor's/TSX Composite Index added 50.68, or 0.4 percent, to 13,903.81 as of 9:43 a.m. in Toronto. The benchmark approached its record of 13,915.36 set May 8.
Read more at Bloomberg Stocks News
UPDATE 1-KB Home mulls sale of French stake, other options
(Reuters) - KB Home, which has seen its shares battered by a slowdown in the U.S. housing industry, said it was evaluating the offer and was also considering a public or private offering of the shares, retaining the stake or other alternatives.
The offer totals about 580 million euros , but far below the 59.30 euros the stock was trading at Friday.
Read more at Reuters.com Bonds News
The offer totals about 580 million euros , but far below the 59.30 euros the stock was trading at Friday.
Read more at Reuters.com Bonds News
U.S. Treasuries Are Higher After Report Shows April Retail Sales Declined
(Bloomberg) -- Treasuries rose after a government report showed retail sales in the U.S. fell in April for the first time in seven months.
The data may lead traders to resume betting the Federal Reserve will cut interest rates this year as segments of the economy, including consumer spending and housing, show weakness. U.S. securities gained for a second day as a slump in global equity markets stoked demand for the safest assets. Benchmark 10- year notes are poised to increase for a second straight week.
Read more at Bloomberg Bonds News
The data may lead traders to resume betting the Federal Reserve will cut interest rates this year as segments of the economy, including consumer spending and housing, show weakness. U.S. securities gained for a second day as a slump in global equity markets stoked demand for the safest assets. Benchmark 10- year notes are poised to increase for a second straight week.
Read more at Bloomberg Bonds News
Brazilian Real, Chilean, Colombian Pesos: Latin American Currency Preview
(Bloomberg) -- The following events and economic reports may influence trading in Latin American currencies today. Exchange rates are from the previous session.
Brazilian real: Consumer prices, as measured by the government's benchmark IPCA index, probably increased 0.25 percent in April, after rising 0.37 percent in March, according to the median forecast in a Bloomberg survey of 16 economists.
Read more at Bloomberg Currencies News
Brazilian real: Consumer prices, as measured by the government's benchmark IPCA index, probably increased 0.25 percent in April, after rising 0.37 percent in March, according to the median forecast in a Bloomberg survey of 16 economists.
Read more at Bloomberg Currencies News
U.S. Cotton Crop May Be 13% Smaller as Farmers Switch Acreage, USDA Says
(Bloomberg) -- The U.S. cotton harvest will be 13 percent smaller than last year as farmers switch acres to crops with higher returns, the government said.
The U.S. harvest will drop to 18.8 million bales, from 21.59 million last year, the U.S. Department of Agriculture said today in a report. The forecast is the department's first for the crop now being planted. A bale of cotton weighs 480 pounds.
Read more at Bloomberg Commodities News
The U.S. harvest will drop to 18.8 million bales, from 21.59 million last year, the U.S. Department of Agriculture said today in a report. The forecast is the department's first for the crop now being planted. A bale of cotton weighs 480 pounds.
Read more at Bloomberg Commodities News
Alcatel-Lucent, Dendreon, KB Home, Volvo, AIG, SLM: U.S. Equity Preview
(Bloomberg) -- The following is a list of companies whose shares may have unusual price changes in U.S. exchanges today. This preview includes news that broke after exchanges closed yesterday. Stock symbols are in parentheses after company names. Share prices are as of 8:10 a.m. New York time.
Alcatel-Lucent (ALU US) American depositary receipts, each representing one share, rose 28 cents, or 2.2 percent, to $13.28 in trading before the open of U.S. exchanges. The world's largest supplier of telecommunications equipment forecast a 10 percent increase in second-quarter sales from the first period. The stock was upgraded to ``outperform'' from ``neutral'' at Credit Suisse.
Read more at Bloomberg Stocks News
Alcatel-Lucent (ALU US) American depositary receipts, each representing one share, rose 28 cents, or 2.2 percent, to $13.28 in trading before the open of U.S. exchanges. The world's largest supplier of telecommunications equipment forecast a 10 percent increase in second-quarter sales from the first period. The stock was upgraded to ``outperform'' from ``neutral'' at Credit Suisse.
Read more at Bloomberg Stocks News
Goldcorp 1st qtr profit jumps on Glamis takeover
(Reuters) - Goldcorp earned $124.9 million, or 18 cents a share, in the period ended March 31. That compares with a profit of $92.4 million, or 27 cents per share in the year-before period.
Read more at Reuters.com Market News
Read more at Reuters.com Market News
Futures point higher before data
(Reuters) - Stocks took a tumble Thursday after disappointing monthly sales figures from chain retailers and a wider-than-expected U.S. trade deficit fanned fears about the economy's strength.
Government surveys on monthly producer prices and retail sales data are both set for release at 8:30 a.m. .
Read more at Reuters.com Business News
Government surveys on monthly producer prices and retail sales data are both set for release at 8:30 a.m. .
Read more at Reuters.com Business News
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