(Reuters) - Riv Acquisition requested a response by May 17, the company said in a statement. The investor group had in March offered to buy the company for $27 a share, which was rejected.
Read more at Reuters.com Mergers News
Wednesday, May 16, 2007
Arcadia to sell $4 mln of shares in private placement
(Reuters) - The investors, who were also issued warrants to purchase additional shares, primarily include entities affiliated with Potomac Capital Management Inc., an existing investor in the company, Arcadia said.
Read more at Reuters.com Mergers News
Read more at Reuters.com Mergers News
Dell faces New York suit over consumer complaints
(Reuters) - Investors shrugged off the lawsuit, with shares rising 64 cents, or 2.6 percent, to $25.31 in morning Nasdaq trade.
The announcement of the lawsuit came as "something of a relief following widespread rumors" on Tuesday that the impending statement from Cuomo's office could have represented a widening of existing regulatory probes into the company's accounting, Goldman Sachs stock analyst Laura Conigliaro wrote in a research note to clients.
Read more at Reuters.com Business News
The announcement of the lawsuit came as "something of a relief following widespread rumors" on Tuesday that the impending statement from Cuomo's office could have represented a widening of existing regulatory probes into the company's accounting, Goldman Sachs stock analyst Laura Conigliaro wrote in a research note to clients.
Read more at Reuters.com Business News
WCI shares rise on company's statement of sale interest
(Reuters) - WCI said it has entered into confidentiality agreements with a number entities expressing interest in buying WCI.
"While it is still early in this process, your Board continues to believe that a superior alternative to Carl Icahn's offer could emerge that would provide you and all shareholders with greater value than $22 per share," the company said.
Read more at Reuters.com Mergers News
"While it is still early in this process, your Board continues to believe that a superior alternative to Carl Icahn's offer could emerge that would provide you and all shareholders with greater value than $22 per share," the company said.
Read more at Reuters.com Mergers News
European Stocks Decline, Led by Credit Agricole, Air France; Rio Advances
(Bloomberg) -- European stocks declined, pushed lower by banks and airlines, after earnings at Credit Agricole SA missed analysts' estimates and analysts cut recommendations on Air France-KLM Group and EasyJet Plc.
The Dow Jones Stoxx 600 Index has retreated from the 6 1/2 year high reached last week as concern heightened about a slowdown in the U.S., Europe's biggest trading partner. Building permits in the U.S. dropped to the lowest in almost a decade, a government report showed today.
Read more at Bloomberg Stocks News
The Dow Jones Stoxx 600 Index has retreated from the 6 1/2 year high reached last week as concern heightened about a slowdown in the U.S., Europe's biggest trading partner. Building permits in the U.S. dropped to the lowest in almost a decade, a government report showed today.
Read more at Bloomberg Stocks News
Rand rangebound vs dollar, seeks direction
(Reuters) - South Africa's rand was easier against the dollar on Wednesday but remained within its recent range, in the absence of an incentive to break out strongly either way.
At around 1500 GMT the domestic currency was at 6.9520 versus the greenback after hovering between 6.8955/9385 for most of the Johannesburg trading session, before slipping slightly in late trade.
Read more at Reuters Africa
At around 1500 GMT the domestic currency was at 6.9520 versus the greenback after hovering between 6.8955/9385 for most of the Johannesburg trading session, before slipping slightly in late trade.
Read more at Reuters Africa
GE recalls 2.5 mln dishwashers, citing fire hazard
(Reuters) - GE in the first quarter set aside a $76 million reserve to account for the recall, as well as other items.
A GE spokeswoman declined to say what percentage of the company's dishwasher sales the recall representing, only that it was "not the majority."
Read more at Reuters.com Government Filings News
A GE spokeswoman declined to say what percentage of the company's dishwasher sales the recall representing, only that it was "not the majority."
Read more at Reuters.com Government Filings News
East Penn, InterContinental, Monolithic, Nuvelo, TiVo: U.S. Equity Movers
(Bloomberg) -- The following is a list of companies whose shares are having unusual price changes in U.S. exchanges today. Stock symbols are in parentheses after company names. Share prices are as of 10:10 a.m. New York time.
Aecom Technology Corp. (ACM US) gained $1.78, or 8.5 percent, to $22.78 and traded as high as $23. The architectural and engineering company was recommended by CNBC host Jim Cramer, who said the stock should go ``much higher'' after last week's initial offering.
Read more at Bloomberg Stocks News
Aecom Technology Corp. (ACM US) gained $1.78, or 8.5 percent, to $22.78 and traded as high as $23. The architectural and engineering company was recommended by CNBC host Jim Cramer, who said the stock should go ``much higher'' after last week's initial offering.
Read more at Bloomberg Stocks News
Milacron shares resume trading on NYSE after reverse split
(Reuters) - The 4 percent preferred stock will trade, primarily on the Nasdaq, under a new symbol, MZIAP, the statement added.
Read more at Reuters.com Mergers News
Read more at Reuters.com Mergers News
Goldman's Whitehead, `Appalled' by Wall Street Pay, Appeals for Charity
(Bloomberg) -- Nothing in John Whitehead's 37-year career at Goldman Sachs Group Inc. prepared him for the excesses of today's Wall Street.
``I'm appalled at the salaries,'' the retired co-chairman of the securities industry's most profitable firm said in an interview this week. At Goldman, which paid Chairman and Chief Executive Officer Lloyd Blankfein $54 million last year, compensation levels are ``shocking,'' Whitehead said. ``They're the leaders in this outrageous increase.''
Read more at Bloomberg Exclusive News
``I'm appalled at the salaries,'' the retired co-chairman of the securities industry's most profitable firm said in an interview this week. At Goldman, which paid Chairman and Chief Executive Officer Lloyd Blankfein $54 million last year, compensation levels are ``shocking,'' Whitehead said. ``They're the leaders in this outrageous increase.''
Read more at Bloomberg Exclusive News
Pound Falls After Bank of England Says Inflation to Slow From Decade High
(Bloomberg) -- The pound fell to near its lowest in two months against the euro after the Bank of England said in its quarterly report inflation will slow next year from its fastest in a decade.
The U.K. currency also touched its lowest in four weeks versus the dollar yesterday after a report showed inflation slowed last month from the highest in a decade. Central bank policy makers estimate inflation will reach the 2 percent target in two years based on investor speculation that interest rates will rise again. Traders held onto bets the central bank will raise rates twice more this year, futures prices show.
Read more at Bloomberg Currencies News
The U.K. currency also touched its lowest in four weeks versus the dollar yesterday after a report showed inflation slowed last month from the highest in a decade. Central bank policy makers estimate inflation will reach the 2 percent target in two years based on investor speculation that interest rates will rise again. Traders held onto bets the central bank will raise rates twice more this year, futures prices show.
Read more at Bloomberg Currencies News
TREASURIES-Bonds little changed after homes, industry data
(Reuters) - NEW YORK, May 16 - U.S. Treasury debt prices were largely unchanged on Wednesday after data on housing starts and industrial production did little to alter expectations on interest rate moves by the Federal Reserve.
Bond traders largely shrugged off data showing industrial output rose by a bigger-than-expected 0.7 percent in April. For details see [ID:nN16182638].
Read more at Reuters.com Bonds News
Bond traders largely shrugged off data showing industrial output rose by a bigger-than-expected 0.7 percent in April. For details see [ID:nN16182638].
Read more at Reuters.com Bonds News
US stock indexes open higher on housing, takeovers
(Reuters) - U.S. stocks opened higher on Wednesday after government data suggested the housing market was stabilizing and the latest takeover deals, including one for Bausch & Lomb Inc.
The Dow Jones industrial average was up 35.51 points, or 0.27 percent, at 13,419.35. The Standard & Poor's 500 Index
Read more at Reuters Africa
The Dow Jones industrial average was up 35.51 points, or 0.27 percent, at 13,419.35. The Standard & Poor's 500 Index
Read more at Reuters Africa
U.S. April industrial output jumps 0.7 pct
(Reuters) - Analysts polled by Reuters were expecting production to rise 0.3 percent and capacity use to rise to 81.5 percent.
Manufacturing output rose 0.5 percent in April, boosted by a 3.3 percent rise in motor vehicle and parts production and a 2.0 percent gain in computer and electronic product output, the Fed said.
Read more at Reuters.com Economic News
Manufacturing output rose 0.5 percent in April, boosted by a 3.3 percent rise in motor vehicle and parts production and a 2.0 percent gain in computer and electronic product output, the Fed said.
Read more at Reuters.com Economic News
Progressive posts lower April earnings
(Reuters) - The Mayfield Village, Ohio-based car and home insurer's combined ratio, which reflects how much it made on the premiums it earned before losses and expenses, was 88.8 in the latest quarter, up from 85.9 a year ago. A lower combined ratio is better for an insurer.
Net premiums earned were $1.35 billion, down $1.37 billion a year earlier.
Read more at Reuters.com Market News
Net premiums earned were $1.35 billion, down $1.37 billion a year earlier.
Read more at Reuters.com Market News
Investors more confident in growth, earnings-Merrill
(Reuters) - The investment bank's May poll of 201 fund managers world wide also showed, however, increasing worries about inflation and its impact on interest rates.
The poll showed more investors now expecting global growth to improve or stay the same over the next 12 months than those expecting a decline.
Read more at Reuters.com Bonds News
The poll showed more investors now expecting global growth to improve or stay the same over the next 12 months than those expecting a decline.
Read more at Reuters.com Bonds News
U.S. Stock-Index Futures Rise on Acquisitions; Shares of Citigroup Gain
(Bloomberg) -- U.S. stock-index futures advanced after billionaire investor Edward Lampert said he bought an $800 million stake in Citigroup Inc. and more companies agreed to be acquired.
Bausch & Lomb Inc. rallied as a private equity firm said it will buy the maker of contact lenses, while Agile Software Corp. jumped on Oracle Corp.'s plan to purchase the company. Shares of Microsoft Corp. gained after George Soros doubled his holdings in the world's largest software maker.
Read more at Bloomberg Stocks News
Bausch & Lomb Inc. rallied as a private equity firm said it will buy the maker of contact lenses, while Agile Software Corp. jumped on Oracle Corp.'s plan to purchase the company. Shares of Microsoft Corp. gained after George Soros doubled his holdings in the world's largest software maker.
Read more at Bloomberg Stocks News
Hungarian Forint Drops on Speculation Central Bank Will Cut Interest Rates
(Bloomberg) -- The Hungarian forint fell to near its lowest in two months against the euro on expectations the central bank will cut interest rates next week.
Hungary's currency was the third worst performer versus the euro in the past month, falling 1.4 percent. Policy makers will probably cut the benchmark rate a quarter-point at their next meeting on May 21, a Bloomberg News survey shows, after holding it at 8 percent since October, the highest in the EU.
Read more at Bloomberg Currencies News
Hungary's currency was the third worst performer versus the euro in the past month, falling 1.4 percent. Policy makers will probably cut the benchmark rate a quarter-point at their next meeting on May 21, a Bloomberg News survey shows, after holding it at 8 percent since October, the highest in the EU.
Read more at Bloomberg Currencies News
Sidor expects to avoid Venezuela takeover-report
(Reuters) - Ternium Sidor's Executive President Julian Eguren said in an interview with Venezuelan daily El Nacional that he held talks with Chavez's vice president that appeared to avert a takeover.
Asked if the company's offer to increase its government-backed work in the community could stave off a nationalization, Eguren said, "Yes. I think so. We are defining the role Sidor will take in new social plans.
Read more at Reuters.com Bonds News
Asked if the company's offer to increase its government-backed work in the community could stave off a nationalization, Eguren said, "Yes. I think so. We are defining the role Sidor will take in new social plans.
Read more at Reuters.com Bonds News
UPDATE 1-Jack in the Box quarterly profits rise; raises '07 view
(Reuters) - The company, which is extending its Jack in the Box line with new products, also raised its 2007 earnings forecast, and issued third-quarter outlook above analysts' view.
The San-Diego-based chain posted second-quarter earnings of $27.2 million, or 80 cents a share, compared with $21.8 million, or 61 cents a share, last year.
Read more at Reuters.com Market News
The San-Diego-based chain posted second-quarter earnings of $27.2 million, or 80 cents a share, compared with $21.8 million, or 61 cents a share, last year.
Read more at Reuters.com Market News
FACTBOX: Sarkozy's pledges for first 100 days in office
(Reuters) - * Go to Berlin straight after taking office to try and break the impasse over EU institutional reform.
* Call special session of French parliament to pass key bills.
Read more at Reuters.com Bonds News
* Call special session of French parliament to pass key bills.
Read more at Reuters.com Bonds News
Crude Oil Declines Below $63 a Barrel on Reports Nigeria Protest is Ending
(Bloomberg) -- Crude oil fell amid reports that protestors in Nigeria plan to end their occupation of a facility run by Royal Dutch Shell Plc.
Crude oil for June delivery fell 35 cents to $62.82 a barrel on the New York Mercantile Exchange at 11:35 a.m. in London. Brent crude for June settlement declined 23 cents to $67.88 a barrel on the ICE Futures exchange.
Read more at Bloomberg Energy News
Crude oil for June delivery fell 35 cents to $62.82 a barrel on the New York Mercantile Exchange at 11:35 a.m. in London. Brent crude for June settlement declined 23 cents to $67.88 a barrel on the ICE Futures exchange.
Read more at Bloomberg Energy News
New African exchanges aim to help producers
(Reuters) - Two new African commodity exchanges, one already launched and another due within a year, aim to boost producers' returns and give small farmers access to credit.
The Agricultural Commodity Exchange for Africa (ACE), launched six months ago for spot and forward trade in agricultural commodities in Malawi, Zambia and South Africa, has so far seen trade worth $3 million.
Read more at Reuters Africa
The Agricultural Commodity Exchange for Africa (ACE), launched six months ago for spot and forward trade in agricultural commodities in Malawi, Zambia and South Africa, has so far seen trade worth $3 million.
Read more at Reuters Africa
Astra confident of MedImmune deal despite lawsuit
(Reuters) - Chris Larson of San Diego filed a class-action lawsuit against MedImmune and its senior officers and directors, claiming the sale benefited them more than ordinary shareholders.
"This is a matter for MedImmune as AstraZeneca is not party to the suit. However, MedImmune's SEC filing states that it does not believe the suit has any merit. Therefore we are confident that the deal will go ahead," an AstraZeneca spokesman said.
Read more at Reuters.com Mergers News
"This is a matter for MedImmune as AstraZeneca is not party to the suit. However, MedImmune's SEC filing states that it does not believe the suit has any merit. Therefore we are confident that the deal will go ahead," an AstraZeneca spokesman said.
Read more at Reuters.com Mergers News
Shanghai Copper Rises as Losses on Concern Over China Supply Seen Overdone
(Bloomberg) -- Copper futures in Shanghai rose the first day in five, as investors speculated that selling triggered by concern about growing stockpiles in China, the world's biggest consumer of the metal, may have been overdone.
China's imports of copper and products rose 61 percent to 1.1 million metric tons in the first four months of this year, compared with a year ago, customs data showed yesterday. Shanghai Futures Exchange stockpiles of copper jumped 26 percent to 85,269 tons last week, the highest in three years, from levels reported on April 27 before the week-long Labor Day holiday.
Read more at Bloomberg Commodities News
China's imports of copper and products rose 61 percent to 1.1 million metric tons in the first four months of this year, compared with a year ago, customs data showed yesterday. Shanghai Futures Exchange stockpiles of copper jumped 26 percent to 85,269 tons last week, the highest in three years, from levels reported on April 27 before the week-long Labor Day holiday.
Read more at Bloomberg Commodities News
UPDATE 1-Fund set to offer 1,584 yen/shr for Bull-Dog Sauce
(Reuters) - The fund, along with its affiliates, is the largest single shareholder of the Worcestershire sauce maker, owning 10.15 percent of the company's outstanding shares
A spokeswoman for Bull-Dog Sauce declined to comment on Steel Partner's offer.
Read more at Reuters.com Mergers News
A spokeswoman for Bull-Dog Sauce declined to comment on Steel Partner's offer.
Read more at Reuters.com Mergers News
JGBs jump as players square positions before GDP
(Reuters) - Some investors were looking to pick up bonds as a large amount of intermediate- to long-term JGBs are due to mature next month, analysts said.
"People who needed to buy JGBs before the June redemption bought today," said Mari Iwashita, a senior fixed-income strategist at Daiwa Securities SMBC.
Read more at Reuters.com Bonds News
"People who needed to buy JGBs before the June redemption bought today," said Mari Iwashita, a senior fixed-income strategist at Daiwa Securities SMBC.
Read more at Reuters.com Bonds News
Germany's Benchmark DAX Index Falls; Allianz, E.ON, SAP Pace Retreat
(Bloomberg) -- German stocks slipped, led by Allianz SE, E.ON AG and SAP AG.
The benchmark DAX Index lost 34.64, or 0.5 percent, to 7470.71 as of 9:09 a.m. in Frankfurt. The HDAX Index of the country's 110 biggest companies also dropped 0.5 percent.
Read more at Bloomberg Stocks News
The benchmark DAX Index lost 34.64, or 0.5 percent, to 7470.71 as of 9:09 a.m. in Frankfurt. The HDAX Index of the country's 110 biggest companies also dropped 0.5 percent.
Read more at Bloomberg Stocks News
South Korean Won's Gain Stalls on Concern Central Bank Will Sell Currency
(Bloomberg) -- South Korea's won was little changed amid speculation the Bank of Korea will sell it to help exports as the currency traded near the highest this year. Local government bonds were steady.
The currency's 0.7 percent gain this month stalled after a report showed Korea's department store sales dropped for the first time in three months in April and separate figures showed the jobless rate rose, suggesting the central bank needs to prop up exports to support economic growth. Deputy Bank of Korea Governor Rhee Gwang Ju said the currency is highly overvalued, Reuters reported yesterday.
Read more at Bloomberg Currencies News
The currency's 0.7 percent gain this month stalled after a report showed Korea's department store sales dropped for the first time in three months in April and separate figures showed the jobless rate rose, suggesting the central bank needs to prop up exports to support economic growth. Deputy Bank of Korea Governor Rhee Gwang Ju said the currency is highly overvalued, Reuters reported yesterday.
Read more at Bloomberg Currencies News
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