(Bloomberg) -- Turkish stocks rose after the country's highest court annulled the first round of presidential voting and the government called for early parliamentary elections.
Shares of Eregli Demir & Celik Fabrikalari TAS, the country's largest steelmaker, and Anadolu Efes Biracilik & Malt Sanayii AS paced the advance.
Read more at Bloomberg Stocks News
Wednesday, May 2, 2007
Mexico's OMA posts 6 percent rise in 1st-qtr net
(Reuters) - Revenues in the first quarter rose 10 percent to 436 million pesos.
Read more at Reuters.com Market News
Read more at Reuters.com Market News
US March factory orders rise surprising 3.1 pct
(Reuters) - Aside from transportation orders, factory orders rose 1.9 percent after being unchanged in February. February orders excluding transportation were first reported as a 0.4 percent decline.
Orders for durable goods, items meant to least three years or longer, also rose a bigger-than-expected 3.7 percent in March. Analysts were expecting durables orders to gain 3.3 percent.
Read more at Reuters.com Economic News
Orders for durable goods, items meant to least three years or longer, also rose a bigger-than-expected 3.7 percent in March. Analysts were expecting durables orders to gain 3.3 percent.
Read more at Reuters.com Economic News
Cablevision says to go private in deal with Dolans
(Reuters) - The Dolans will contribute approximately $2.1 billion in equity to the transaction through reinvestment of their current shares in a new company. Merrill Lynch & Co., Bear, Stearns & Co. Inc., and Bank of America will provide another $15.5 billion in debt financing.
Read more at Reuters.com Bonds News
Read more at Reuters.com Bonds News
Sweden to Sell 8 Percent of TeliaSonera, Worth $2.9 Billion, to Investors
(Bloomberg) -- Sweden will sell a 19.7 billion-krona ($2.9 billion) stake in telephone company TeliaSonera AB to institutional investors in the new government's first asset sale.
Deutsche Bank AG and UBS AG will manage the disposal of 8 percent of the Stockholm-based company, the biggest Swedish share sale in almost five years. Sweden will remain TeliaSonera's largest shareholder with a 37.3 percent stake.
Read more at Bloomberg Stocks News
Deutsche Bank AG and UBS AG will manage the disposal of 8 percent of the Stockholm-based company, the biggest Swedish share sale in almost five years. Sweden will remain TeliaSonera's largest shareholder with a 37.3 percent stake.
Read more at Bloomberg Stocks News
Teva Pharma raises 2007 EPS forecast to $2.20-$2.30
(Reuters) - Analysts, on average, were expecting Teva to earn $2.11 on a GAAP basis and $2.12 before items, according to Reuters Estimates.
Read more at Reuters.com Market News
Read more at Reuters.com Market News
Saudi Arabia Denies Oil Minister Al-Naimi Said Prices Are in a `Bubble'
(Bloomberg) -- Saudi Arabia's Oil Minister Ali al- Naimi didn't describe oil prices as being in a ``bubble,'' according to an oil ministry official who declined to be identified by name.
Earlier, South Korea's energy ministry quoted al-Naimi in a statement as saying there's ``a bubble in current prices.''
Read more at Bloomberg Energy News
Earlier, South Korea's energy ministry quoted al-Naimi in a statement as saying there's ``a bubble in current prices.''
Read more at Bloomberg Energy News
CB Richard Ellis, Chipotle, Garmin, MasterCard: 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 9 a.m. New York time.
Alltel Corp. (AT US): The mobile-phone service provider is a potential takeover target, CNBC host Jim Cramer said on his ``Mad Money'' television program. Shares fell 64 cents to $62.05 in regular trading yesterday.
Read more at Bloomberg Stocks News
Alltel Corp. (AT US): The mobile-phone service provider is a potential takeover target, CNBC host Jim Cramer said on his ``Mad Money'' television program. Shares fell 64 cents to $62.05 in regular trading yesterday.
Read more at Bloomberg Stocks News
Yen's Real Effective Exchange Rate Hits 21-Year Low, Bank of Japan Says
(Bloomberg) -- The yen's real effective exchange rate fell in April to a more than 21-year low of 96.90, the Bank of Japan said, as the lowest interest rate among major economies led investors to sell yen for higher-yielding currencies.
The rate is derived by first calculating the weighted average of the yen's exchange rate against a basket of currencies used by Japan's major trading partners. The result is then adjusted to account for inflation in those countries. The rate is regarded as useful for measuring long-term foreign exchange trends because it is inflation adjusted.
Read more at Bloomberg Currencies News
The rate is derived by first calculating the weighted average of the yen's exchange rate against a basket of currencies used by Japan's major trading partners. The result is then adjusted to account for inflation in those countries. The rate is regarded as useful for measuring long-term foreign exchange trends because it is inflation adjusted.
Read more at Bloomberg Currencies News
UPDATE 2-Wireless phone business drags at buyout target BCE
(Reuters) - BCE, Canada's biggest telecommunications group, is reviewing options that could include privatization of the company.
It earned C$499 million , or 62 Canadian cents a share, up from C$477 million, or 52 Canadian cents a share, in the year earlier period.
Read more at Reuters.com Mergers News
It earned C$499 million , or 62 Canadian cents a share, up from C$477 million, or 52 Canadian cents a share, in the year earlier period.
Read more at Reuters.com Mergers News
Cablevision board approves Dolan offer: CNBC
(Reuters) - The family has made at least two earlier offers to buy the company in the past few years.
Read more at Reuters.com Business News
Read more at Reuters.com Business News
UPDATE 1-Dominion Resources earnings decline
(Reuters) - Operating profits for the quarter fell to $525 million, or $1.50 per share, versus $573 million, or $1.64 per share, last year.
On that basis, analysts had forecast earnings of $1.48 per share, according to data compiled by Reuters Estimates.
Read more at Reuters.com Market News
On that basis, analysts had forecast earnings of $1.48 per share, according to data compiled by Reuters Estimates.
Read more at Reuters.com Market News
UPDATE 1-Walgreen April same-store sales up 9.2 percent
(Reuters) - Walgreen said that Easter being eight days earlier than last year did not affect its April sales results.
Total sales rose 14.1 percent to $4.5 billion and pharmacy sales accounted for 65.1 percent of total sales.
Read more at Reuters.com Market News
Total sales rose 14.1 percent to $4.5 billion and pharmacy sales accounted for 65.1 percent of total sales.
Read more at Reuters.com Market News
Transocean First-Quarter Profit More Than Doubles as Rig Rental Rates Soar
(Bloomberg) -- Transocean Inc., the world's largest offshore oil and gas driller, said first-quarter profit more than doubled after rents for deepwater rigs surged.
Net income climbed to $553 million, or $1.84 a share, from $206 million, or 61 cents, a year earlier, Houston-based Transocean said today in a statement. Revenue jumped 63 percent to a record $1.33 billion.
Read more at Bloomberg Energy News
Net income climbed to $553 million, or $1.84 a share, from $206 million, or 61 cents, a year earlier, Houston-based Transocean said today in a statement. Revenue jumped 63 percent to a record $1.33 billion.
Read more at Bloomberg Energy News
Colombia Peso May Rise Above 2,000 Per Dollar on Higher Rates, Lehman Says
(Bloomberg) -- The Colombian peso may advance to a seven-year high as the central bank extends increases in borrowing costs, according to Lehman Brothers Inc.
The peso may strengthen in the next several weeks beyond 2,000 pesos per U.S. dollar, Lehman economists Gianfranco Bertozzi and Andres Pardo wrote in a note to customers yesterday distributed by e-mail. The last time the Colombian currency broke that level was in April 2000.
Read more at Bloomberg Currencies News
The peso may strengthen in the next several weeks beyond 2,000 pesos per U.S. dollar, Lehman economists Gianfranco Bertozzi and Andres Pardo wrote in a note to customers yesterday distributed by e-mail. The last time the Colombian currency broke that level was in April 2000.
Read more at Bloomberg Currencies News
Kumba's stock hits fresh peak on price upgrade
(Reuters) - Shares in Africa's biggest iron ore producer Kumba Iron Ore hit an all-time fresh peak of 168 rand on Wednesday, buoyed partly by a research note, which set a fair value price of 205 rand for the stock.
Iron ore analysts and a fund manager said South African Kumba's shares rose partly on the research note by Merrill Lynch, and a purchase into a Brazilian iron ore by Kumba's parent company, mining giant Anglo American Plc.
Read more at Reuters Africa
Iron ore analysts and a fund manager said South African Kumba's shares rose partly on the research note by Merrill Lynch, and a purchase into a Brazilian iron ore by Kumba's parent company, mining giant Anglo American Plc.
Read more at Reuters Africa
UPDATE 1-Time Warner Cable posts 1st-qtr profit
(Reuters) - In its debut earnings report as a public company Time Warner Cable posted a net profit of $276 million or 28 cents per share in the first quarter up from $237 million or 23 cents a year ago.
Excluding the one-time gains, the company's profit was 20 cents a share, compared with the average Wall Street estimate of 23 cents a share.
Read more at Reuters.com Market News
Excluding the one-time gains, the company's profit was 20 cents a share, compared with the average Wall Street estimate of 23 cents a share.
Read more at Reuters.com Market News
UPDATE 1-Teva posts first-quarter profit vs year-ago loss
(Reuters) - Quarterly net income at the Israel-based company was $342 million, or 42 cents per share, compared with a net loss of $1.0 billion, or $1.40 per share, a year earlier.
The 2006 figures include a write-off of $1.3 billion relating to the acquisition of Ivax.
Read more at Reuters.com Market News
The 2006 figures include a write-off of $1.3 billion relating to the acquisition of Ivax.
Read more at Reuters.com Market News
UPDATE 1-Jones Apparel 1st-qtr net rises
(Reuters) - The owner of Jones New York, Nine West and Barneys New York said first-quarter net income was $47.8 million, or 44 cents per share, compared with $25.8 million, or 22 cents per share, a year ago.
But excluding special items, the shoe and apparel maker earned 50 cents per share, down from 66 cents a year ago.
Read more at Reuters.com Market News
But excluding special items, the shoe and apparel maker earned 50 cents per share, down from 66 cents a year ago.
Read more at Reuters.com Market News
Saint Acquisition to Sell Bonds for Swift Purchase: Corporate Bond Alert
(Bloomberg) -- Saint Acquisition Corp., the acquirer of Swift Transportation Co., the third-largest U.S. trucking company, plans to sell $835 million of second-lien senior secured notes as soon as today to fund the $2.5 billion buyout, according to data compiled by Bloomberg.
Entertainment Properties Trust, a real estate investment trust that owns megaplex movie theaters, is also among borrowers planning to sell at least $18.1 billion of bonds in the U.S., Bloomberg data show. Borrowers have sold $13.6 billion of debt this week, compared with $25.5 billion all of last week. Sales year-to-date total $401.1 billion, up from $349.6 billion a year ago.
Read more at Bloomberg Bonds News
Entertainment Properties Trust, a real estate investment trust that owns megaplex movie theaters, is also among borrowers planning to sell at least $18.1 billion of bonds in the U.S., Bloomberg data show. Borrowers have sold $13.6 billion of debt this week, compared with $25.5 billion all of last week. Sales year-to-date total $401.1 billion, up from $349.6 billion a year ago.
Read more at Bloomberg Bonds News
TRW Automotive posts quarterly net loss
(Reuters) - TRW reported a net loss of $86 million, or 87 cents per share, for the first quarter, compared with net earnings of $47 million, or 46 cents per share, a year earlier.
Excluding the debt retirement charges, TRW earned 60 cents per share. Analysts, on average, expected the Livonia, Michigan-based company to earn 53 cents per share excluding one-time items, according to Reuters Estimates.
Read more at Reuters.com Market News
Excluding the debt retirement charges, TRW earned 60 cents per share. Analysts, on average, expected the Livonia, Michigan-based company to earn 53 cents per share excluding one-time items, according to Reuters Estimates.
Read more at Reuters.com Market News
Brazilian Real, Colombian Peso: Latin American Currency Preview
(Bloomberg) -- The following events and economic reports may influence trading in Latin American currencies today. Markets were closed yesterday due to the Labor Day holiday. Exchange rates are from the previous session.
Brazilian real: Brazil's trade surplus may have widened to $4 billion in April from $3.32 billion the previous month, according to the median estimate in a Bloomberg survey of 10 economists.
Read more at Bloomberg Currencies News
Brazilian real: Brazil's trade surplus may have widened to $4 billion in April from $3.32 billion the previous month, according to the median estimate in a Bloomberg survey of 10 economists.
Read more at Bloomberg Currencies News
Flow rebuffs hedge fund's call for sale
(Reuters) - The company said that until it completed a review of its strategic alternatives, it was premature to say whether it is appropriate to engage in a sale process.
Read more at Reuters.com Mergers News
Read more at Reuters.com Mergers News
Nordic Next-Year Electricity Prices Climb as German Power, Emissions Rise
(Bloomberg) -- Nordic power prices for 2008 rose for the fourth time in five trading days as German electricity and carbon- emissions permits traded at their highest since last year. Third- quarter power fell.
Electricity for next year on the Nord Pool ASA exchange gained 0.2 percent to 44.10 euros ($59.89) a megawatt-hour at 10:36 a.m. Oslo time today. That's the highest since Nov. 27.
Read more at Bloomberg Energy News
Electricity for next year on the Nord Pool ASA exchange gained 0.2 percent to 44.10 euros ($59.89) a megawatt-hour at 10:36 a.m. Oslo time today. That's the highest since Nov. 27.
Read more at Bloomberg Energy News
Germany's DAX Index Rises, Paced by Continental AG, Henkel, MAN Shares
(Bloomberg) -- German stocks advanced for a second trading day, led by Continental AG and Henkel KGaA after the companies reported first-quarter earnings.
MAN AG increased after UBS AG raised its share-price estimate for Europe's third-largest truckmaker.
Read more at Bloomberg Stocks News
MAN AG increased after UBS AG raised its share-price estimate for Europe's third-largest truckmaker.
Read more at Bloomberg Stocks News
Copper and zinc steady as US data, Peru support
(Reuters) - Copper hovered around $8,000 a tonne on the London Metal Exchange, keeping an eye on a miners' strike in Peru, while zinc found support in a potential supply disruption, analysts said on Wednesday.
By 1037 GMT copper for delivery in three months fell back from an earlier intra-day high of $8,030 and was indicated at $7,980/7,995. On Tuesday, copper closed at $7,986 after rallying 2.9 percent on supportive U.S. economic data.
Read more at Reuters Africa
By 1037 GMT copper for delivery in three months fell back from an earlier intra-day high of $8,030 and was indicated at $7,980/7,995. On Tuesday, copper closed at $7,986 after rallying 2.9 percent on supportive U.S. economic data.
Read more at Reuters Africa
Crude Oil for June Pares Advance; Trades Below $64.40 a Barrel in New York
(Bloomberg) -- Oil erased gains in New York before a report due today that will probably show U.S. crude supplies rose for a 12th week.
Crude oil for June delivery traded on the New York Mercantile Exchange for $64.28 a barrel, down 12 cents, at 9:53 a.m. London time. Brent contracts for June settlement were up 10 cents at $67.10 a barrel on the London-based ICE Futures Exchange.
Read more at Bloomberg Energy News
Crude oil for June delivery traded on the New York Mercantile Exchange for $64.28 a barrel, down 12 cents, at 9:53 a.m. London time. Brent contracts for June settlement were up 10 cents at $67.10 a barrel on the London-based ICE Futures Exchange.
Read more at Bloomberg Energy News
CORRECTED: Murdoch's Dow deal may up Asia clout, but not China
(Reuters) - SYDNEY - News Corp.'s $5 billion bid for Dow Jones & Co. Inc. may give a boost to Rupert Murdoch's plans to expand in Asia, although China still poses a challenge for the media tycoon.
The media giant has had mixed success in Asia where it owns Hong Kong-based broadcaster Star TV and Star India but has made several unsuccessful attempts to tap China's rapidly growing media market.
Read more at Reuters.com Business News
The media giant has had mixed success in Asia where it owns Hong Kong-based broadcaster Star TV and Star India but has made several unsuccessful attempts to tap China's rapidly growing media market.
Read more at Reuters.com Business News
U.K. FTSE 100 Shares Advance, Led by BSkyB, Lonmin; Morrison, Liberty Gain
(Bloomberg) -- U.K. stocks advanced, paced by British Sky Broadcasting Plc after the company's earnings beat analysts' estimates. Lonmin Plc rose after the platinum producer said its loss for the first-half narrowed.
William Morrison Supermarkets Plc jumped after the Daily Mail reported speculation the company may be the target of a private-equity takeover bid. Liberty International Plc rose after Credit Suisse Group recommended investors buy the shares.
Read more at Bloomberg Stocks News
William Morrison Supermarkets Plc jumped after the Daily Mail reported speculation the company may be the target of a private-equity takeover bid. Liberty International Plc rose after Credit Suisse Group recommended investors buy the shares.
Read more at Bloomberg Stocks News
Nokia sued in U.S. over a technology patent
(Reuters) - Nokia said it would actively defend its rights in the case.
"This case was previously filed against Nokia and then voluntarily dismissed by the plaintiff. We will analyze the details of the new case which was filed on 30 April, 2007 and actively defend the rights of Nokia," a spokeswoman said.
Read more at Reuters.com Business News
"This case was previously filed against Nokia and then voluntarily dismissed by the plaintiff. We will analyze the details of the new case which was filed on 30 April, 2007 and actively defend the rights of Nokia," a spokeswoman said.
Read more at Reuters.com Business News
Pound Declines Versus Dollar Before Report on March Mortgage Approvals
(Bloomberg) -- The U.K. pound dropped for a second day versus the dollar before a report that's expected to show the number of U.K. mortgage approvals fell in March.
The pound declined 0.3 percent before the report that will show U.K. mortgage approvals fell in March for the first time in three months, according to a Bloomberg News survey of economists. The currency declined versus the dollar last week on speculation recent gains to a 26-year high already reflect expectations the Bank of England will raise interest rates twice more this year.
Read more at Bloomberg Currencies News
The pound declined 0.3 percent before the report that will show U.K. mortgage approvals fell in March for the first time in three months, according to a Bloomberg News survey of economists. The currency declined versus the dollar last week on speculation recent gains to a 26-year high already reflect expectations the Bank of England will raise interest rates twice more this year.
Read more at Bloomberg Currencies News
Vietnam Bonds Are Little Changed; Five-Year Notes Yield at 7.24 Percent
(Bloomberg) -- Vietnam's bonds were little changed, with five-year notes yielding 7.24 percent, in the first day of trading after a holiday break.
The yield on the five-year note was at 7.24 percent at 4:02 p.m. in Hanoi, according to fixing rates from seven banks set once a day and compiled by Bloomberg. The yield rose to 7.25 percent on April 25, the highest since March 13.
Read more at Bloomberg Bonds News
The yield on the five-year note was at 7.24 percent at 4:02 p.m. in Hanoi, according to fixing rates from seven banks set once a day and compiled by Bloomberg. The yield rose to 7.25 percent on April 25, the highest since March 13.
Read more at Bloomberg Bonds News
China CLSA Purchasing Manager Index Rises to Highest in Almost Two Years
(Bloomberg) -- China's manufacturing activity rose to the highest in almost two years as new orders from overseas and at home increase.
The Purchasing Managers' Index, a measure designed to give a snapshot of manufacturing activity, climbed to 53.3 from 52.3 in March, Hong Kong-based CLSA Asia Pacific Markets said today in an e-mailed statement. That is the highest since May 2005.
Read more at Bloomberg Emerging Markets News
The Purchasing Managers' Index, a measure designed to give a snapshot of manufacturing activity, climbed to 53.3 from 52.3 in March, Hong Kong-based CLSA Asia Pacific Markets said today in an e-mailed statement. That is the highest since May 2005.
Read more at Bloomberg Emerging Markets News
Beckman Coulter raises Biosite bid to $90/shr
(Reuters) - Under the terms of the revised agreement, Beckman Coulter will acquire all of Biosite's outstanding common stock in a cash tender offer for $90 per share.
Beckman Coulter said the offer was valued at about $1.67 billion in total on a fully diluted share basis.
Read more at Reuters.com Mergers News
Beckman Coulter said the offer was valued at about $1.67 billion in total on a fully diluted share basis.
Read more at Reuters.com Mergers News
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