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STock Market 

(27-04-2011)
  • Virgin America files plans for IPO
    NEW YORK (AP) — Virgin America's next destination is Wall Street.More

  • US stocks head lower; European markets sink
    NEW YORK (AP) — The US stock market sank in early trading Monday, ahead of a full week of economic reports and earnings. Major indexes turned lower following a report of sluggish sales in the housing market.More

  • Wall Street falls after housing data disappoints

    A trader watches his screen on the floor of the New York Stock ExchangeBy Ryan Vlastelica NEW YORK (Reuters) - U.S. stocks fell on Monday as weak data on the housing market and services sector were the latest indications of worsening economic conditions, taking the S&P 500 below a key support level. While acquisition activity limited the market's decline, keeping indexes near record levels, investors found few reasons to buy as the data followed some high-profile disappointments in corporate earnings, including from Amazon.com and Caterpillar last week. Pending home sales unexpectedly fell 1.1 percent in June. The report follows a drop of 8. ...


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  • Tyson to sell Mexico, Brazil poultry businesses to JBS

    Traders gather at the post that trades Tyson Foods on the floor of the New York Stock Exchange(Reuters) - Tyson Foods Inc TSN.N, the biggest U.S. meat processor, said on Monday it would sell its Mexican and Brazilian poultry businesses to bigger global rival JBS SA's JBSS3.SA Pilgrim's Pride for $575 million. Tyson also reported a 4.4 percent increase in third-quarter profit and forecast sales for the fiscal year ending September 2015 above Wall Street analysts' estimate. Shares in Tyson jumped 3.1 percent in early trading. Proceeds from the sale of Tyson's Mexico and Brazil poultry operations will be used to help pay down debt associated with its $7.7 billion acquisition of Hillshire Brands Co HSH.N, which is expected to close before Sept. 27.


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  • US stocks open mixed on Wall Street
    NEW YORK (AP) — The stock market is opening mixed at the start of a busy week as a batch of merger announcements lift shares in Family Dollar and other companies.More

  • "Lucy" box office bonanza lifts Besson fortune by $5 million

    French film director Luc Besson attends the inauguration of the 'Cite du Cinema' movie studios in Saint-DenisFrench film director Luc Besson was over $5 million richer on Monday after his film "Lucy" starring Scarlett Johansson as a woman with a super-powered brain topped the North American box office at the weekend. Shares in film making company Europacorp , in which he holds a 44 percent stake or some 12.94 million shares, climbed 7.5 percent to 4.15 euros each, valuing his holding at 53.7 million euros, up by 3.75 million ($5.04 million) from Friday's stock market close. "Lucy" collected $45 million at the weekend, Europacorp said in a statement, outmuscling "Hercules", which took in $29 million for second place. Gilbert Dupont analyst Jean-Baptiste Sargeant said even though royalties would not come through for two or three years, "Lucy's" strong showing would have an instant image-related impact for Europacorp.


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  • Virgin America files for IPO
    NEW YORK (AP) — Virgin America's next destination is Wall Street.More

  • Europe stocks struggle, Asia rises on China data
    BEIJING (AP) — European stock markets struggled on Monday and Wall Street was expected to dip on the open amid ongoing concerns about earnings and the economic impact of sanctions on Russia. Asian indexes closed higher, however, after China reported strong corporate profits.More

  • Russian shares down, Rosneft underperforms after Yukos ruling
    Shares in Russia's Rosneft fell more than the broad MICEX index on Monday after an international court ordered Moscow to pay $51 billion for expropriating the assets of the now-defunct oil producer Yukos, most of which were acquired by Rosneft in auctions. At 1100 GMT, Rosneft was trading 2.7 percent lower on MICEX , underperforming the rouble-denominated index, which was 2 percent lower at 1,358.9 points. "This decision will definitely not increase the attractiveness of the Russian stock market," said Yuri Selyandin, senior portfolio manager at the investment firm GHP Group in Moscow.More

  • US STOCKS-Futures flat with S&P 500 near record levels
    U.S. stock index futures were little changed on Monday as investors looked ahead to the latest economic data and corporate earnings to give direction to a market near record levels. * While merger and ...More

  • Social Media Risk-Reward―You Decide

    Social Media Risk-Reward―You DecideEach Saturday I look forward to reading Alexandra Wolfe’s Weekend Confidential in the weekend edition of The Wall Street Journal. This week was no exception, and, in fact, Bill Marriott’s quotes really caught my attention. Two quotes in particular stood out. “In four years, 60% of our business will be millennials,” says Mr. Marriott, who...


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  • Lower reinsurance rates, forex loss hit Hiscox H1 earnings
    (Reuters) - Insurer Hiscox Ltd reported a 31 percent fall in first-half profit as reinsurance rates dropped and it incurred a foreign exchange loss, compared with a year-earlier gain. Hiscox, which offers insurance on everything from fine art to oil rigs, said pretax profit fell to 124.6 million pounds ($211.6 million) in the six months ended June 30 from 180.7 million pounds a year earlier. The company recorded a foreign exchange loss of 16.4 million pounds - a sharp reversal from the same period of 2013, when it recorded a currency gain of 34.9 million pounds. Hiscox said it would pay an interim dividend of 7.5 pence per share, less than many analysts had expected.More

  • Bitcoin catches on in tech-savvy Romania

    Bitcoin themed stickers stand attached to glass doors during the Inside Bitcoins: The Future of Virtual Currency Conference in New YorkBy Luiza Ilie BUCHAREST (Reuters) - In a well-lit office with red window frames in downtown Bucharest, Romania's first bitcoin ATM attracts many who until it opened in May had to buy or sell the digital currency face-to-face or through wire transfers. The interest in bitcoin in Romania stands out in a region where national currencies are widely seen as poor substitutes for the euro. In the western town of Oradea, 370 miles (595 km) away from the capital, the first bitcoin exchange in the country has drawn more than 2,000 clients in the seven months since it opened, with transactions totalling 5.12 million lei ($1.57 million). Bitcoin is still an infant in Europe relative to the United States, where hundreds of start-ups backed by some Wall Street traders and venture capitalists have propelled consumer and media interest.


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  • Havells India falls; depreciation, taxes weigh on earnings
    Reuters Market Eye - Havells India Ltd falls 1.9 percent after April-June net profit lags estimates. Additional depreciation due to changes in Companies Act and expiry of certain tax exemptions weighed on earnings, traders say. (Reporting by Abhishek Vishnoi)More

  • South Africa's Merafe expects higher H1 earnings, shares climb
    Shares of South Africa's Merafe Resources were up more than 4 percent on Monday after the ferrochrome producer said it expected earnings to more than double for the six months to June, boosted by higher production and better sales. South Africa's largest producer of ferrochrome, an ingredient used to make stainless steel, said headline earnings per share could to climb up as much as 142 percent to between 8.6 and 9.2 cents per share from 3.8 cents last year. Headline EPS, the main measure of profit in South Africa, excludes certain one-time items.More

  • Pfizer's need for deal looms larger with earnings report

    The Pfizer logo is seen at their world headquarters in New YorkPfizer Inc's (PFE.N) vulnerability to cheaper generics and its weak roster of experimental medicines will be on display Tuesday when the company reports quarterly earnings, reviving interest in its pursuit of AstraZeneca Plc (AZN.L) or other deals to fortify its pipeline. While many industry watchers expect Pfizer to re-engage with Britain's AstraZeneca in coming months, some say the U.S. drugmaker should consider targets more focussed on biotechnology, a strategy that has paid off for Merck & Co (MRK.N) and Bristol-Myers Squibb Co (BMY.N). Although Pfizer is conducting trials of promising products - including breast cancer drug palbociclib and vaccines against meningitis and staph aureus - it needs far more drugs to generate meaningful sales growth, said Ori Hershkovitz, analyst with the Tel Aviv-based Sphera Fund, which holds Pfizer shares. "Pfizer is in a very desperate spot, having seen most of its pipeline disappoint and facing multiple patent expirations," he said.


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  • Nikkei rises to new six-month high on earnings hopes

    Pedestrians walk past at an electronic board outside a brokerage in TokyoTOKYO (Reuters) - The Nikkei share average hit a six-month closing high on Monday, buoyed by hopes for improvement in domestic corporate earnings, while casino-related plays outperformed on a media report that new casinos could be opened in Japan before the 2020 Summer Olympics. The benchmark Nikkei gained 0.5 percent to 15,529.40 points, its highest closing level since Jan. 23. Since mid-June, the index has tried a few times to rise above the 15,500 level but in vain. Still, the Nikkei is down 4.7 percent since the start of this year. The broader Topix advanced 0.4 percent to 1,286. ...


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  • China shares lead Asia higher, dollar buoyed

    Investors look at information displayed on an electronic screen at a brokerage house in ShanghaiBy Shinichi Saoshiro TOKYO (Reuters) - Asian stocks shrugged off a drop in Wall Street and hit a three-year high on Monday, with China taking the lead after data showed a robust jump in profits earned by industrial firms in the world's second-largest economy. Spreadbetters expected Europe to open flat to slightly higher, forecasting Britain's FTSE to start as much as 0.2 higher and Germany's DAX and France's CAX to open little unchanged.


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  • Boart Longyear's earnings continue to fall
    Mining services firm Boart Longyear's earnings continue to fall, but it says the decline in demand from resource companies may be over.More

  • PRESS DIGEST - Wall Street Journal - July 28
    The following are the top stories in the Wall Street Journal. * With 100 days to go until the midterm election, unexpectedly strong bids by several Republican candidates and President Barack Obama's continued sagging approval ratings are boosting GOP chances of capturing a Senate majority.More