(Bloomberg) -- Japan's automaker stocks fell, led by Toyota Motor Corp., on concern consumer spending in the U.S. has weakened and on speculation their profits will be eroded by increased incentives.
Sales at stores open at least a year may post a ``small decline'' when retailers release April results on May 10, the International Council of Shopping Centers and UBS Securities LLC said yesterday.
Read more at Bloomberg Stocks News
Tuesday, May 8, 2007
Japan's Nikkei 225 Stock Average, Topix Fall; Toyota, Nintendo Lead Drop
(Bloomberg) -- Japan's Nikkei 225 Stock Average fell 38.71, or 0.2 percent, to 17,618.13 at 9:02 a.m. in Tokyo. The broader Topix index dropped 2.91, or 0.2 percent, to 1729.72.
Toyota Motor Corp. and Nintendo Co. led the declines.
Read more at Bloomberg Stocks News
Toyota Motor Corp. and Nintendo Co. led the declines.
Read more at Bloomberg Stocks News
Daewoo Engineering, NCsoft, Poongsan Corp.: South Korea Stock Preview
(Bloomberg) -- The following shares may rise or fall in South Korea. Prices refer to the previous close. This preview includes news announced after markets shut yesterday. Stock symbols are in brackets after the company names.
The Kospi index lost 0.1 percent to 1582.65. The Kosdaq slipped 0.6 percent to 698.25. Kospi 200 futures expiring in June dropped 0.2 percent to 204.10, while the underlying index was little changed at 203.51.
Read more at Bloomberg Stocks News
The Kospi index lost 0.1 percent to 1582.65. The Kosdaq slipped 0.6 percent to 698.25. Kospi 200 futures expiring in June dropped 0.2 percent to 204.10, while the underlying index was little changed at 203.51.
Read more at Bloomberg Stocks News
Australian Dollar Is Little Changed After Government Cuts Taxes in Budget
(Bloomberg) -- The Australian dollar was little changed after Treasurer Peter Costello yesterday announced tax cuts and a boost to spending in the budget.
Lower taxes follow a government report yesterday that pushed the Australian dollar higher as it showed retail sales jumped for a 10th month and before a release tomorrow forecast by economists to show unemployment remained at a 31-year low. The local dollar is the second-best performing of the 16 most-active currencies in the past three months as investors have been lured to the nation's highest interest rates in six years.
Read more at Bloomberg Currencies News
Lower taxes follow a government report yesterday that pushed the Australian dollar higher as it showed retail sales jumped for a 10th month and before a release tomorrow forecast by economists to show unemployment remained at a 31-year low. The local dollar is the second-best performing of the 16 most-active currencies in the past three months as investors have been lured to the nation's highest interest rates in six years.
Read more at Bloomberg Currencies News
Striking GM Opel workers to vote Thursday
(Reuters) - He said a meeting with striking workers on Tuesday evening had been informational, but did not mean an end to the strike. Two more informational meetings were set for Wednesday morning and afternoon for workers on other shifts, he said.
Earlier, another union official indicated the strike might end as soon as Tuesday.
Read more at Reuters.com Business News
Earlier, another union official indicated the strike might end as soon as Tuesday.
Read more at Reuters.com Business News
China, Indonesia, Malaysia, Singapore, Thailand: Asia Local Bond Preview
(Bloomberg) -- The following events and economic reports may influence trading in Asian local-currency bonds today. Yields are from the previous session.
China: China Development Bank will sell 20 billion yuan ($2.6 billion) of 10-year bonds today. Economic growth slowed to 10.8 percent in the second quarter, after an 11.1 percent expansion in the previous three months, according to a forecast by State Information Center published in the China Securities Journal. Inflation will accelerate 3 percent from 2.7 percent in the first quarter, the center said.
Read more at Bloomberg Bonds News
China: China Development Bank will sell 20 billion yuan ($2.6 billion) of 10-year bonds today. Economic growth slowed to 10.8 percent in the second quarter, after an 11.1 percent expansion in the previous three months, according to a forecast by State Information Center published in the China Securities Journal. Inflation will accelerate 3 percent from 2.7 percent in the first quarter, the center said.
Read more at Bloomberg Bonds News
UPDATE 1-Star witness Radler details deals at Black trial
(Reuters) - CHICAGO, May 8 - The man who was Conrad Black's trusted business partner for 30 years testified on Tuesday how the two men diverted millions of dollars to themselves.
David Radler, who has pleaded guilty to a single count of fraud and faces 29 months in prison, provided details in the former media baron's fraud trial of a $472 million sale of U.S. newspapers in 1998.
Read more at Reuters.com Bonds News
David Radler, who has pleaded guilty to a single count of fraud and faces 29 months in prison, provided details in the former media baron's fraud trial of a $472 million sale of U.S. newspapers in 1998.
Read more at Reuters.com Bonds News
UPDATE 1-Leap Wireless swings to Q1 loss
(Reuters) - The company said it added about 318,000 net new customers in the first quarter, and that it had customer churn -- a measure of cancellations -- of 3.4 percent in the quarter, up slightly from 3.3 percent a year earlier.
"Our first quarter net customer additions were achieved from both new markets launched in 2006 and our existing markets, which added approximately 102,000 net customers, a 24 percent increase," Leap Chief Executive Doug Hutcheson said.
Read more at Reuters.com Market News
"Our first quarter net customer additions were achieved from both new markets launched in 2006 and our existing markets, which added approximately 102,000 net customers, a 24 percent increase," Leap Chief Executive Doug Hutcheson said.
Read more at Reuters.com Market News
UPDATE 1-Regulator rejects deal with Biovail's Melnyk
(Reuters) - The case involves trades in the drug maker's shares conducted by four trust accounts set up in the Cayman Islands in 1996.
The OSC, Canada's senior securities regulator, alleges Melnyk set up the trusts into which, in September 1996, he placed more than 4 million shares of Biovail, or about 19 percent of the outstanding total.
Read more at Reuters.com Government Filings News
The OSC, Canada's senior securities regulator, alleges Melnyk set up the trusts into which, in September 1996, he placed more than 4 million shares of Biovail, or about 19 percent of the outstanding total.
Read more at Reuters.com Government Filings News
Delaying tactics endanger US wildlife: report
(Reuters) - The Haha's fate is a symptom of wider problems at the U.S. Fish & Wildlife Service, which oversees programs aimed at protecting threatened species, according to a report for release on Wednesday by the Center for Biological Diversity.
The report, obtained by Reuters on Tuesday, said that the Bush administration has listed 57 species as protected since 2001, far fewer than the 512 species listed in the Clinton administration and less than the 234 species listed during the four-year presidency of George H.W. Bush, the current president's father.
Read more at Reuters.com Bonds News
The report, obtained by Reuters on Tuesday, said that the Bush administration has listed 57 species as protected since 2001, far fewer than the 512 species listed in the Clinton administration and less than the 234 species listed during the four-year presidency of George H.W. Bush, the current president's father.
Read more at Reuters.com Bonds News
Mexico Bolsa Falls a Second Day, Led by America Movil: Brazil's Banks Gain
(Bloomberg) -- Mexico's Bolsa index had the biggest two- day loss in seven weeks on concern that profit growth is too slow to justify the market's 11 percent gain this year.
The index of the most-traded stocks in Mexico City today fell 204.17, or 0.7 percent, to 29,572.40. Mobile-phone company America Movil SAB led the drop. The Bolsa had set a record May 4 with its first close above 30,000. Brazil's Bovespa index today was little changed.
Read more at Bloomberg Emerging Markets News
The index of the most-traded stocks in Mexico City today fell 204.17, or 0.7 percent, to 29,572.40. Mobile-phone company America Movil SAB led the drop. The Bolsa had set a record May 4 with its first close above 30,000. Brazil's Bovespa index today was little changed.
Read more at Bloomberg Emerging Markets News
Gateway net loss narrows as expenses decline
(Reuters) - The first-quarter net loss was $8.58 million, or 2 cents per share, compared with a loss of $12.3 million, or 3 cents per share, in the year-earlier quarter. Net sales slipped to $1.0 billion from $1.08 billion.
Analysts, on average, had forecast earnings per share of 1 cent before certain items and revenue of $938.6 million, according to Reuters Estimates.
Read more at Reuters.com Market News
Analysts, on average, had forecast earnings per share of 1 cent before certain items and revenue of $938.6 million, according to Reuters Estimates.
Read more at Reuters.com Market News
US CREDIT-Icahn board absence mild for Motorola debt
(Reuters) - Icahn on Monday failed to win a board seat, the company said, after a bitter proxy battle between the billionaire investor and the mobile phone maker. For details, see [ID:nN07403435]
"He probably was not the right person to turn around Motorola, so for bondholders it's a good thing," said Gimme Credit analyst Dave Novosel.
Read more at Reuters.com Bonds News
"He probably was not the right person to turn around Motorola, so for bondholders it's a good thing," said Gimme Credit analyst Dave Novosel.
Read more at Reuters.com Bonds News
AK Steel, BioLase, ENGlobal, VeraSun, Warnaco: U.S. Equity Movers Final
(Bloomberg) -- The following is a list of companies whose shares had unusual price changes in U.S. exchanges today. Stock symbols are in parentheses after company names. Share prices are as of 4 p.m. New York time.
3Com Corp. (COMS US) gained 38 cents, or 9 percent, to $4.59. Citadel Investment Group LLC, a Chicago hedge fund manager, boosted its stake in the networking-equipment maker to 8.4 percent from less than 1 percent. Citadel said it may seek alternatives to increase shareholder value in 3Com, according to a filing with the U.S. Securities and Exchange Commission.
Read more at Bloomberg Stocks News
3Com Corp. (COMS US) gained 38 cents, or 9 percent, to $4.59. Citadel Investment Group LLC, a Chicago hedge fund manager, boosted its stake in the networking-equipment maker to 8.4 percent from less than 1 percent. Citadel said it may seek alternatives to increase shareholder value in 3Com, according to a filing with the U.S. Securities and Exchange Commission.
Read more at Bloomberg Stocks News
UPDATE 1-Cisco profit rises on firm network equipment demand
(Reuters) - Cisco said net income for the fiscal third quarter rose to $1.9 billion, or 30 cents a share, from $1.4 billion, or 22 cents a share, in the same quarter a year earlier.
Excluding special items, net income rose to $2.1 billion, or 34 cents a share, from $1.8 billion, or 29 cents a share.
Read more at Reuters.com Market News
Excluding special items, net income rose to $2.1 billion, or 34 cents a share, from $1.8 billion, or 29 cents a share.
Read more at Reuters.com Market News
JANA asks Alcoa to call off Alcan bid
(Reuters) - On Tuesday, Alcoa launched a hostile bid for Alcan worth nearly $27 billion after talks between the two aluminum producers failed to lead to a deal.
Read more at Reuters.com Mergers News
Read more at Reuters.com Mergers News
3Com, Countrywide, CSX, Dynegy, Heelys, VeraSun Energy: 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 1:20 p.m. New York time.
3Com Corp. (COMS US) gained 35 cents, or 8.3 percent, to $4.56 and traded as high as $4.72. Citadel Investment Group LLC, a Chicago hedge fund manager, boosted its stake in the networking-equipment maker to 8.4 percent from less than 1 percent. Citadel said it may seek alternatives to increase shareholder value in 3Com, according to a filing with the U.S. Securities and Exchange Commission.
Read more at Bloomberg Stocks News
3Com Corp. (COMS US) gained 35 cents, or 8.3 percent, to $4.56 and traded as high as $4.72. Citadel Investment Group LLC, a Chicago hedge fund manager, boosted its stake in the networking-equipment maker to 8.4 percent from less than 1 percent. Citadel said it may seek alternatives to increase shareholder value in 3Com, according to a filing with the U.S. Securities and Exchange Commission.
Read more at Bloomberg Stocks News
UPDATE 1-FirstEnergy seeks power rate decrease in Ohio
(Reuters) - To achieve the decrease however, the subsidiaries, Ohio Edison, Cleveland Electric Illuminating Co. and Toledo Edison, want the state to reduce charges related to electric restructuring but increase distribution rates by $334 million.
Distribution rates cover the cost of delivering power.
Read more at Reuters.com Bonds News
Distribution rates cover the cost of delivering power.
Read more at Reuters.com Bonds News
GLOBAL MARKETS-Stocks snap 5-day rally, dollar dips vs yen
(Reuters) - NEW YORK, May 8 - U.S. stocks fell on Tuesday as investors skimmed profits off a five-session rally, while the dollar dipped against the yen on perceptions the Federal Reserve could cut interest rates later this year.
Government bonds rose briefly on speculation about how the Fed would describe subsiding inflation and slowing economic growth in the statement accompanying its decision on interest rates on Wednesday, when it is expected to leave rates unchanged.
Read more at Reuters.com Bonds News
Government bonds rose briefly on speculation about how the Fed would describe subsiding inflation and slowing economic growth in the statement accompanying its decision on interest rates on Wednesday, when it is expected to leave rates unchanged.
Read more at Reuters.com Bonds News
U.S. Treasuries Are Little Changed After $13 Billion 10-Year Note Auction
(Bloomberg) -- Treasuries were little changed after an auction today of 10-year securities amid speculation the Federal Reserve may emphasize slowing economic growth at its meeting tomorrow.
The yield on the benchmark 10-year note was little changed at 4.62 percent as of 1:21 p.m. in New York, according to bond broker Cantor Fitzgerald LP. The price of the 4 5/8 percent note maturing in February 2017 increased 1/32, or 31 cents per $1,000 face amount, to 100. Yields move inversely to prices.
Read more at Bloomberg Bonds News
The yield on the benchmark 10-year note was little changed at 4.62 percent as of 1:21 p.m. in New York, according to bond broker Cantor Fitzgerald LP. The price of the 4 5/8 percent note maturing in February 2017 increased 1/32, or 31 cents per $1,000 face amount, to 100. Yields move inversely to prices.
Read more at Bloomberg Bonds News
Norway Leads Declines in Western Europe; Statoil, UPM, Norske Skog Slump
(Bloomberg) -- Nordic stocks declined for the first time in three days, paced by Volvo AB, Europe's second-largest truckmaker, and UPM-Kymmene Oyi, the third-biggest papermaker.
Norske Skogindustrier ASA dropped after Deutsche Bank AG reduced its projection for shares of the world's biggest maker of newsprint.
Read more at Bloomberg Stocks News
Norske Skogindustrier ASA dropped after Deutsche Bank AG reduced its projection for shares of the world's biggest maker of newsprint.
Read more at Bloomberg Stocks News
FirstEnergy seeks power rate decrease in Ohio
(Reuters) - Distribution rate cover the cost of delivering power to customers.
As a result, customer bills would decline by an average of 4.6 percent, or $208 million.
Read more at Reuters.com Bonds News
As a result, customer bills would decline by an average of 4.6 percent, or $208 million.
Read more at Reuters.com Bonds News
TREASURIES-Bonds little changed as long bond rally fizzles
(Reuters) - NEW YORK, May 8 - U.S. Treasuries were little changed by midday on Tuesday as caution ahead of a 10-year bond auction and an upcoming Federal Reserve meeting reined in an earlier rally.
The Treasury sells $13 billion of 10-year notes later on Tuesday and $5 billion of 30-year bonds on Thursday. Since the long bond offering was less than some had expected, 30-year Treasuries had rallied, sending yields to their lowest since late March.
Read more at Reuters.com Bonds News
The Treasury sells $13 billion of 10-year notes later on Tuesday and $5 billion of 30-year bonds on Thursday. Since the long bond offering was less than some had expected, 30-year Treasuries had rallied, sending yields to their lowest since late March.
Read more at Reuters.com Bonds News
Fortress to buy Florida East Coast for $3.5 billion
(Reuters) - Under the terms of the deal, Florida East Coast shareholders will receive $62.50 in cash for each of their shares.
Apart from this, Florida East Coast will pay a special dividend of $21.50 per share in cash to its shareholders.
Read more at Reuters.com Mergers News
Apart from this, Florida East Coast will pay a special dividend of $21.50 per share in cash to its shareholders.
Read more at Reuters.com Mergers News
European stocks extend slide as Wall Street drops
(Reuters) - Europe's FTSEurofirst 300 index extended its losses on Monday to trade down 1.0 percent at 1,578.2 points, tracking a slide on Wall Street where investors started to lock in profits.
Around Europe, Britain's FTSE 100 fell 0.9 percent, while Germany's DAX slid 1.2 percent and France's CAC 40 dropped 0.7 percent.
Read more at Reuters Africa
Around Europe, Britain's FTSE 100 fell 0.9 percent, while Germany's DAX slid 1.2 percent and France's CAC 40 dropped 0.7 percent.
Read more at Reuters Africa
UPDATE 1-Mexico's Pemex total debt $52.5 bln end-March
(Reuters) - Net debt, or the difference between total debt and cash equivalents, also decreased to $36.2 billion, Pemex said.
Pemex, the world's most indebted oil company, has leaned heavily on bond markets for years to fund exploration as the bulk of its sales were lost in taxes.
Read more at Reuters.com Bonds News
Pemex, the world's most indebted oil company, has leaned heavily on bond markets for years to fund exploration as the bulk of its sales were lost in taxes.
Read more at Reuters.com Bonds News
Motorola shares fall after Icahn board bid fails
(Reuters) - In recent weeks some shareholders had boosted Motorola's shares because of weak phone sales, due to the prospect of having Icahn on the board.
"The vote outcome is likely to negatively impact the shares in the near term as some investors expected Mr. Icahn to push for more aggressive near-term steps," said CIBC analyst Ittai Kidron in a note to clients.
Read more at Reuters.com Hot Stocks News
"The vote outcome is likely to negatively impact the shares in the near term as some investors expected Mr. Icahn to push for more aggressive near-term steps," said CIBC analyst Ittai Kidron in a note to clients.
Read more at Reuters.com Hot Stocks News
Euro Drops Against Dollar on Speculation Traders Reducing Exposure to Risk
(Bloomberg) -- The euro dropped against the dollar on speculation traders reduced bets the European currency will climb beyond its all-time high before the Federal Reserve and the European Central Bank set rates this week.
The yen strengthened against the dollar and the euro as traders trimmed risk. Bets on a stronger euro and a weaker yen are approaching record highs, making the currencies prone to swings. Investors are betting the Fed will point to signs of economic weakness, while the ECB is expected to signal a June increase in borrowing costs is likely.
Read more at Bloomberg Currencies News
The yen strengthened against the dollar and the euro as traders trimmed risk. Bets on a stronger euro and a weaker yen are approaching record highs, making the currencies prone to swings. Investors are betting the Fed will point to signs of economic weakness, while the ECB is expected to signal a June increase in borrowing costs is likely.
Read more at Bloomberg Currencies News
Morgan Stanley Recommends Railroads, Says Union Pacific is `Top Pick'
(Bloomberg) -- Union Pacific Corp. was initiated at ``overweight'' at Morgan Stanley, which said the biggest U.S. railroad is a ``top pick'' in an industry that is increasing its pricing power and may outperform the broader market this year.
Morgan Stanley also started coverage of Norfolk Southern Corp., the fourth-largest U.S. railroad, at ``overweight.'' Burlington Northern Santa Fe Corp., the second-largest U.S. railroad, CSX Corp., the third-largest, and Canadian Pacific Railway Ltd., Canada's second-largest railroad, were rated ``equal-weight'' in new coverage by analyst William Greene.
Read more at Bloomberg Stocks News
Morgan Stanley also started coverage of Norfolk Southern Corp., the fourth-largest U.S. railroad, at ``overweight.'' Burlington Northern Santa Fe Corp., the second-largest U.S. railroad, CSX Corp., the third-largest, and Canadian Pacific Railway Ltd., Canada's second-largest railroad, were rated ``equal-weight'' in new coverage by analyst William Greene.
Read more at Bloomberg Stocks News
Hewlett-Packard says raises outlook
(Reuters) - At the same time HP raised its forecast for earnings per share, which will also be helped by share buyback that reduced the amount of outstanding stock.
Shares of the company rose 1.6 percent after the updated forecast, which it issued after inadvertently releasing some financial data.
Read more at Reuters.com Business News
Shares of the company rose 1.6 percent after the updated forecast, which it issued after inadvertently releasing some financial data.
Read more at Reuters.com Business News
AQuantive sees opportunity for market share gains
(Reuters) - Chief Executive Brian McAndrews said the company stands to benefit as some clients seek an alternative player to Google, which dominates Internet search and seeks a stronger foothold in Web display advertising and other formats from radio to television.
"We think we can continue to win market share from DoubleClick and now we have the added opportunity of being the only independent player," McAndrews said on a conference call with analysts to discuss the company's first-quarter results.
Read more at Reuters.com Mergers News
"We think we can continue to win market share from DoubleClick and now we have the added opportunity of being the only independent player," McAndrews said on a conference call with analysts to discuss the company's first-quarter results.
Read more at Reuters.com Mergers News
European High-Yield Default Rate Increased to 2.2% in April, Moody's Says
(Bloomberg) -- The default rate for European high- risk, high-yield borrowers increased to 2.2 percent in April, up from 1.9 percent at the beginning of the year, Moody's Investors Service said in a report today.
The increase ``reflected a small decline in speculative- grade issuers rather than an actual increase in defaults,'' Moody's London-based associate director of corporate default research Andrea Zazzarelli said in the report.
Read more at Bloomberg Bonds News
The increase ``reflected a small decline in speculative- grade issuers rather than an actual increase in defaults,'' Moody's London-based associate director of corporate default research Andrea Zazzarelli said in the report.
Read more at Bloomberg Bonds News
UPDATE 1-Golden Telecom Q1 net squeezed by incentive scheme
(Reuters) - Stripping out the impact of the so-called stock appreciation rights , net profit was $23.5 million, down 28 percent on the fourth quarter of 2006 and below an average forecast of $26.6 million in a Reuters poll of 10 analysts.
Analysts covering the fast-growing telecoms sector in the region tend to look at results quarter on quarter.
Read more at Reuters.com Market News
Analysts covering the fast-growing telecoms sector in the region tend to look at results quarter on quarter.
Read more at Reuters.com Market News
UPDATE 1-Citigroup commits $50 bln to green initiatives
(Reuters) - The largest U.S. bank said the amount includes nearly $10 billion in activities the bank has already undertaken. Citigroup plans as well to increase to $10 billion from about $1 billion its commitment to reduce its own greenhouse gas emissions.
Citigroup's program comes as U.S. companies look for ways to benefit from growing demand for alternative energies, and reducing emissions.
Read more at Reuters.com Bonds News
Citigroup's program comes as U.S. companies look for ways to benefit from growing demand for alternative energies, and reducing emissions.
Read more at Reuters.com Bonds News
UPDATE 1-aQuantive quarterly profit rises 87 pct
(Reuters) - Shares of aQuantive surged more than 10 percent in pre-market trading to $32.75 compared with its close of $29.71 on Monday on the Nasdaq.
AQuantive helps marketers serve up and track online advertising, capabilities that are drawing more investor and media industry interest as the Internet becomes a primary outlet for news and information for more consumers.
Read more at Reuters.com Market News
AQuantive helps marketers serve up and track online advertising, capabilities that are drawing more investor and media industry interest as the Internet becomes a primary outlet for news and information for more consumers.
Read more at Reuters.com Market News
UPDATE 2-Tenet Healthcare posts higher quarterly profit
(Reuters) - First-quarter profit rose to $75 million, or 16 cents per share, from $70 million, or 15 cents per share, a year earlier.
According to Reuters Estimates, the company reported an operating loss of 3 cents per share, compared to the average estimate among Wall street analysts of a loss of 2 cents per share.
Read more at Reuters.com Market News
According to Reuters Estimates, the company reported an operating loss of 3 cents per share, compared to the average estimate among Wall street analysts of a loss of 2 cents per share.
Read more at Reuters.com Market News
Cisco Systems, Deutsche Bank, Lazard, McDermott: 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. Stock symbols are in parentheses after company names. Share prices are as of 8:10 a.m. New York time.
Adidas AG American depositary receipts (ADDYY US): The world's second-largest sporting-goods maker said in a statement distributed by Business Wire that its first-quarter net income fell 11 percent to 128 million euros ($174.3 million) from 144 million euros a year earlier. That topped the 125.4 million-euro median estimate of five analysts surveyed by Bloomberg. Adidas ADRs, each representing half a share, fell 30 cents to $28.70 in regular trading yesterday.
Read more at Bloomberg Stocks News
Adidas AG American depositary receipts (ADDYY US): The world's second-largest sporting-goods maker said in a statement distributed by Business Wire that its first-quarter net income fell 11 percent to 128 million euros ($174.3 million) from 144 million euros a year earlier. That topped the 125.4 million-euro median estimate of five analysts surveyed by Bloomberg. Adidas ADRs, each representing half a share, fell 30 cents to $28.70 in regular trading yesterday.
Read more at Bloomberg Stocks News
Sciele Pharma to offer $250 mln of convertible senior notes
(Reuters) - The remainder of the proceeds will be used for future acquisitions or licenses of products and technologies and for capital expenditures and general corporate purposes.
Read more at Reuters.com Government Filings News
Read more at Reuters.com Government Filings News
UPDATE 1-Revlon quarterly loss narrows
(Reuters) - The net loss in the quarter that ended March 31, was $35.2 million, or 7 cents a share, compared with a loss of $58.2 million, or 15 cents a share, a year earlier.
Net sales inched up 1 percent to $328.6 million in the quarter. U.S. sales were down 2.5 percent at $193.3 million, whereas sales in its international markets increased 6.4 percent to $135.3 million.
Read more at Reuters.com Market News
Net sales inched up 1 percent to $328.6 million in the quarter. U.S. sales were down 2.5 percent at $193.3 million, whereas sales in its international markets increased 6.4 percent to $135.3 million.
Read more at Reuters.com Market News
Tenet Healthcare posts higher quarterly profit
(Reuters) - Profit from continuing operations was 20 cents per share.
Read more at Reuters.com Market News
Read more at Reuters.com Market News
Netherlands' Finance Minister Bos Says Euro's Strength Isn't a Concern
(Bloomberg) -- Dutch Finance Minister Wouter Bos comments on the economy of the euro area, hedge funds and on World Bank President Paul Wolfowitz. Bos spoke as he arrived at a meeting of European Union finance ministers in Brussels today.
On whether he is concerned about the euro's strength:
Read more at Bloomberg Currencies News
On whether he is concerned about the euro's strength:
Read more at Bloomberg Currencies News
Performance Food first quarter net rises
(Reuters) - Analysts on average expected the Richmond, Virginia-based company to earn 18 cents a share, according to Reuters Estimates.
Read more at Reuters.com Market News
Read more at Reuters.com Market News
Exar says to merge with Sipex
(Reuters) - In a statement, the company added that Ralph Schmitt, chief executive officer of Sipex, will become the CEO of Exar.
Read more at Reuters.com Mergers News
Read more at Reuters.com Mergers News
Adidas shares rally as Reebok revival seen
(Reuters) - Shares in Adidas, known for its three stripes logo, climbed as much as 6.5 percent as investors welcomed signs that the Bavarian company's integration of the U.S. sporting goods maker was starting to bear fruit, with Reebok sales up 15 percent.
The order backlog -- a key indication of retailers' future sales -- for the Adidas brand was up 2 percent. At Reebok it was down 3 percent year-on-year at the end of March, expressed in euros.
Read more at Reuters.com Hot Stocks News
The order backlog -- a key indication of retailers' future sales -- for the Adidas brand was up 2 percent. At Reebok it was down 3 percent year-on-year at the end of March, expressed in euros.
Read more at Reuters.com Hot Stocks News
S.Africa maize slips on US, exports rise
(Reuters) - South Africa's most-traded maize futures slid by over two percent on Tuesday and could head lower if prices in Chicago continue to fall on strong United States crop forecasts, traders said.
July white maize fell by the daily limit of 45 rand to 1,735 rand a tonne, backtracking from last week's gains.
Read more at Reuters Africa
July white maize fell by the daily limit of 45 rand to 1,735 rand a tonne, backtracking from last week's gains.
Read more at Reuters Africa
Lead Declines, Snapping Three Days of Gains That Had Sent Prices to Record
(Bloomberg) -- Lead declined, snapping three sessions of gains in London that earlier sent prices to a record.
Lead for delivery in three months on the London Metal Exchange dropped $15, or 0.7 percent, to $2,100 a metric ton as of 9:49 a.m. Earlier, it gained to $2,140 a ton, beating the previous record set May 4 by $20.
Read more at Bloomberg Commodities News
Lead for delivery in three months on the London Metal Exchange dropped $15, or 0.7 percent, to $2,100 a metric ton as of 9:49 a.m. Earlier, it gained to $2,140 a ton, beating the previous record set May 4 by $20.
Read more at Bloomberg Commodities News
IBM selling up to $85 mln in Lenovo shares
(Reuters) - Lenovo shares dipped 0.32 percent on Tuesday to close at HK$3.13 each before the share sale hit the market.
Tuesday's share sale follows a similar move in February, when IBM, Lenovo's second largest shareholder after the Chinese government, raised US$123 million by selling 300 million shares at HK$3.20 each.
Read more at Reuters.com Mergers News
Tuesday's share sale follows a similar move in February, when IBM, Lenovo's second largest shareholder after the Chinese government, raised US$123 million by selling 300 million shares at HK$3.20 each.
Read more at Reuters.com Mergers News
China Central Bank Raises Lenders' Foreign-Currency Reserve Requirement
(Bloomberg) -- China raised the amount of foreign currencies that lenders must keep as reserves and instructed them to strengthen management of such holdings, according to a notice issued by the central bank.
Banks must keep 5 percent of their foreign-currency deposits as reserves, up from 4 percent, according to a People's Bank of China circular to lenders obtained by Bloomberg News. The increase will take effect May 15, the circular said.
Read more at Bloomberg Currencies News
Banks must keep 5 percent of their foreign-currency deposits as reserves, up from 4 percent, according to a People's Bank of China circular to lenders obtained by Bloomberg News. The increase will take effect May 15, the circular said.
Read more at Bloomberg Currencies News
U.S. Stock-Index Futures Drop; Tyco, Cisco Fall Before Reporting Earnings
(Bloomberg) -- U.S. stock-index futures dropped. Tyco International Ltd. shares fell in Europe before the maker of health-care and electronics products reports second-quarter earnings.
Cisco Systems Inc., the world's biggest maker of computer networking equipment, also dropped before announcing third- quarter results.
Read more at Bloomberg Stocks News
Cisco Systems Inc., the world's biggest maker of computer networking equipment, also dropped before announcing third- quarter results.
Read more at Bloomberg Stocks News
White Sugar Futures Decline in London; Cocoa and Robusta Coffee Increase
(Bloomberg) -- White sugar futures declined in London, while cocoa and robusta coffee increased.
Sugar futures for August delivery fell 80 cents, or 0.3 percent, to $318 a metric ton as of 9:50 a.m. local time on Euronext.liffe. Prices have dropped 33 percent in the last 12 months.
Read more at Bloomberg Commodities News
Sugar futures for August delivery fell 80 cents, or 0.3 percent, to $318 a metric ton as of 9:50 a.m. local time on Euronext.liffe. Prices have dropped 33 percent in the last 12 months.
Read more at Bloomberg Commodities News
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