(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.
American International Group Inc. (AIG US): The world's largest insurer said first-quarter profit excluding some items was $1.68 a share. That topped the average estimate of $1.55 from analysts in a Bloomberg survey. The stock rose 20 cents to $72.20 in regular trading.
Read more at Bloomberg Stocks News
Thursday, May 10, 2007
Blue Pearl Mining, Duvernay and Linamar Shares: Canadian Equity Preview
(Bloomberg) -- The following is a list of companies whose shares may have unusual price changes in Canadian markets. This preview includes news that broke after markets closed. Symbols are in parentheses after company names and prices are from the last close.
The Standard & Poor's/TSX Composite Index fell 42.03, or 0.3 percent, to 13853.13.
Read more at Bloomberg Stocks News
The Standard & Poor's/TSX Composite Index fell 42.03, or 0.3 percent, to 13853.13.
Read more at Bloomberg Stocks News
U.K.'s Economy Expanded 0.7 Percent in Quarter Through April, NIESR Says
(Bloomberg) -- The U.K. economy expanded 0.7 percent in the quarter through April, powered by service industries, the National Institute for Economic and Social Research said.
Economic expansion matched the pace of the three months ended Jan. 31 and was the same as the government's estimate for the first quarter, the London-based research group, whose clients include the Bank of England and the U.K. Treasury, said in a statement today.
Read more at Bloomberg Bonds News
Economic expansion matched the pace of the three months ended Jan. 31 and was the same as the government's estimate for the first quarter, the London-based research group, whose clients include the Bank of England and the U.K. Treasury, said in a statement today.
Read more at Bloomberg Bonds News
Alcatel-Lucent, CNP, Karstadt, Lagardere, Swatch: European Equity Preview
(Bloomberg) -- The following stocks may rise or fall in European markets. Prices are from the last close.
The Dow Jones Stoxx 600 fell 0.7 percent to 387.72. The Dow Jones Stoxx 50 Index declined 0.9 percent to 3860.99. The Euro Stoxx 50 Index, a benchmark for the 13 nations using the euro, dropped 0.8 percent to 4391.87.
Read more at Bloomberg Stocks News
The Dow Jones Stoxx 600 fell 0.7 percent to 387.72. The Dow Jones Stoxx 50 Index declined 0.9 percent to 3860.99. The Euro Stoxx 50 Index, a benchmark for the 13 nations using the euro, dropped 0.8 percent to 4391.87.
Read more at Bloomberg Stocks News
Oil holds gains on gasoline worry, African outages
(Reuters) - London Brent crude for the June contract was up 1 cent at $65.80 a barrel by 0241 GMT. It rose 59 cents on Thursday after a fire shut down a Congolese oilfield and more violence in Nigeria raised supply risks there.
U.S. light crude dipped 6 cents to $61.75.
Read more at Reuters.com Hot Stocks News
U.S. light crude dipped 6 cents to $61.75.
Read more at Reuters.com Hot Stocks News
RPT-DEALTALK: Shareholders mull holding shares after LBOs
(Reuters) - By Megan Davies
NEW YORK, May 10 - Keeping a stake in a public company going private may allow shareholders to reap rewards down the line, but investing alongside buyout shops is not risk-free, experts caution.
Read more at Reuters.com Mergers News
NEW YORK, May 10 - Keeping a stake in a public company going private may allow shareholders to reap rewards down the line, but investing alongside buyout shops is not risk-free, experts caution.
Read more at Reuters.com Mergers News
UPDATE 1-US House passes $3.5 bln farm disaster aid
(Reuters) - Representatives passed the bill, 302-120, shortly after passing a $42.8 billion bill to fund the war in Iraq, 221-205. Backers said the disaster bill was long-overdue assistance for crop and livestock losses that occurred since 2005.
"This is the unfinished business" from when Republicans controlled the House, said Oregon Democrat Peter DeFazio. Agriculture Committee chairman Collin Peterson said the disaster package had the tightest rules ever on an aid package.
Read more at Reuters.com Bonds News
"This is the unfinished business" from when Republicans controlled the House, said Oregon Democrat Peter DeFazio. Agriculture Committee chairman Collin Peterson said the disaster package had the tightest rules ever on an aid package.
Read more at Reuters.com Bonds News
Korean Won Drops on Concern Central Bank Will Sell It to Help Exporters
(Bloomberg) -- South Korea's won weakened to a one- week low on concern the central bank will sell the currency to support exporters.
The currency declined for a fourth day, the longest stretch in two months, as Deputy Finance Minister Kim Sung Jin yesterday said the government would act to curb speculation in the market when appropriate. The won this week reached the strongest since Dec. 18, pushing up prices for Korean exporters overseas relative to competitor nations in the region.
Read more at Bloomberg Currencies News
The currency declined for a fourth day, the longest stretch in two months, as Deputy Finance Minister Kim Sung Jin yesterday said the government would act to curb speculation in the market when appropriate. The won this week reached the strongest since Dec. 18, pushing up prices for Korean exporters overseas relative to competitor nations in the region.
Read more at Bloomberg Currencies News
Yen holds rising momentum as stocks fall
(Reuters) - Traders said falls in the euro and sterling against the dollar after key central bank meetings this week also prompted investors to sell those currencies against the yen.
"A fall in the euro looked to be a catalyst for the broad yen buybacks. But we don't know yet if this is only a part of an adjustment in yen short positions or the beginning of a new trend," said Takeshi Iba, head of the forex department at Calyon bank in Tokyo.
Read more at Reuters.com Hot Stocks News
"A fall in the euro looked to be a catalyst for the broad yen buybacks. But we don't know yet if this is only a part of an adjustment in yen short positions or the beginning of a new trend," said Takeshi Iba, head of the forex department at Calyon bank in Tokyo.
Read more at Reuters.com Hot Stocks News
Australian Stocks Decline, Led by BHP Billiton and Commonwealth Bank
(Bloomberg) -- Australia's benchmark stock index, the S&P/ASX 200 Index, fell 0.45 percent at 10:05 a.m.
The index of 201 companies traded on the Australian Stock Exchange fell 28.80 to 6,326.70. Among the stocks in the index, 18 rose, 104 fell and 79 were unchanged.
Read more at Bloomberg Stocks News
The index of 201 companies traded on the Australian Stock Exchange fell 28.80 to 6,326.70. Among the stocks in the index, 18 rose, 104 fell and 79 were unchanged.
Read more at Bloomberg Stocks News
Exporters, Dongbu, Hyosung, LG International: 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 added 0.4 percent to a record 1599.68. The Kosdaq gained 0.4 percent to 704.44. Kospi 200 futures expiring in June rose 0.5 percent to 207.20, while the underlying index advanced 0.4 percent to 205.51.
Read more at Bloomberg Stocks News
The Kospi index added 0.4 percent to a record 1599.68. The Kosdaq gained 0.4 percent to 704.44. Kospi 200 futures expiring in June rose 0.5 percent to 207.20, while the underlying index advanced 0.4 percent to 205.51.
Read more at Bloomberg Stocks News
Menu Foods delays filing of financial statements
(Reuters) - Wheat gluten and rice protein imported from China and used in some pet foods were found to be tainted with the chemical melamine, according to the U.S. Food and Drug Administration.
The melamine was first found in March in wheat gluten used by Canadian-based Menu Foods, and could have caused the deaths of 16 cats and dogs, FDA officials have said.
Read more at Reuters.com Bonds News
The melamine was first found in March in wheat gluten used by Canadian-based Menu Foods, and could have caused the deaths of 16 cats and dogs, FDA officials have said.
Read more at Reuters.com Bonds News
BHP Billiton, Rinker, Rio Tinto, Westfield: Australian Equity Preview
(Bloomberg) -- The following is a list of companies whose shares may rise or fall in Australia. This preview includes news announced after markets closed yesterday. Prices are from yesterday's close unless otherwise stated. Stock symbols are in brackets after the company names.
The S&P/ASX 200 Index futures contract due in June slid 1.1 percent to 6303 at 6:59 a.m. in Sydney. The Bank of New York Australia ADR Index dropped 2.1 percent in New York.
Read more at Bloomberg Stocks News
The S&P/ASX 200 Index futures contract due in June slid 1.1 percent to 6303 at 6:59 a.m. in Sydney. The Bank of New York Australia ADR Index dropped 2.1 percent in New York.
Read more at Bloomberg Stocks News
UPDATE 1-Brazil's JBS-Friboi confirms bid for Swift & Co.
(Reuters) - JBS-Friboi, which launched its shares on the local market in April, said in a statement it could offer no further information about the negotiations, the value or the terms of the bid.
Market estimates put the bid at around $1.5 billion, but JBS-Friboi had no comment.
Read more at Reuters.com Mergers News
Market estimates put the bid at around $1.5 billion, but JBS-Friboi had no comment.
Read more at Reuters.com Mergers News
UPDATE 1-NovaStar posts operating loss, to drop REIT status
(Reuters) - Overall profit nearly doubled, helped by a $84.2 million gain from a recent board decision to drop its tax-friendly real estate investment trust status on Jan. 1, 2008.
Net income for Kansas City, Missouri-based NovaStar rose 98 percent to $44.4 million, or $1.18 per share, from $22.4 million, or 69 cents, a year earlier.
Read more at Reuters.com Mergers News
Net income for Kansas City, Missouri-based NovaStar rose 98 percent to $44.4 million, or $1.18 per share, from $22.4 million, or 69 cents, a year earlier.
Read more at Reuters.com Mergers News
Morgan Stanley Recommends Selling Dollar for Emerging-Market Currencies
(Bloomberg) -- Morgan Stanley said investors should sell the dollar against emerging-markets currencies as a strengthening U.S. economy may enhance demand for assets in developing economies.
First-time claims for U.S. jobless benefits dropped 9,000 to 297,000 in the past week, the fewest in almost four months, a report today from the Labor Department showed.
Read more at Bloomberg Currencies News
First-time claims for U.S. jobless benefits dropped 9,000 to 297,000 in the past week, the fewest in almost four months, a report today from the Labor Department showed.
Read more at Bloomberg Currencies News
Brazil's JBS-Friboi confirms bid for Swift & Co.
(Reuters) - Market estimates put the bid at around $1.5 billion, but JBS-Friboi had no comment.
Swift is the third largest beef and pork processor in the United States, with annual sales of about $9 billion. Based in Colorado, it is also the largest beef processor in Australia.
Read more at Reuters.com Mergers News
Swift is the third largest beef and pork processor in the United States, with annual sales of about $9 billion. Based in Colorado, it is also the largest beef processor in Australia.
Read more at Reuters.com Mergers News
US panel urges some anemia drug label changes
(Reuters) - The FDA usually, but not always, follows the recommendations of its advisers.
Read more at Reuters.com Government Filings News
Read more at Reuters.com Government Filings News
UPDATE 1-Conrad Black's lawyer rips into key witness Radler
(Reuters) - CHICAGO, May 10 - Conrad Black's chief lawyer riddled the star witness against the former media baron with questions on Thursday about past lies he admitted to, suggesting that since he lied then the jury can't trust him to tell the truth now.
Edward Greenspan peppered David Radler, Black's lieutenant for 30 years who has already pleaded guilty to fraud, with questions about a meeting in 2003 with lawyers from a special committee. The group was looking into irregularities at the company that ran Black's media empire, Hollinger International Inc.
Read more at Reuters.com Bonds News
Edward Greenspan peppered David Radler, Black's lieutenant for 30 years who has already pleaded guilty to fraud, with questions about a meeting in 2003 with lawyers from a special committee. The group was looking into irregularities at the company that ran Black's media empire, Hollinger International Inc.
Read more at Reuters.com Bonds News
Sugar Falls After Brazil Says Cane Output Will Top Forecasts on Ethanol
(Bloomberg) -- Sugar in New York fell after Brazil, the world's biggest producer, said its cane harvest will grow more than previously estimated to meet demand for ethanol.
Sugarcane farmers in Brazil will harvest a record 513.1 million metric tons, up from an April estimate of 491.5 million tons, the government's statistics agency said today. Output will rise from 455.3 million tons last year.
Read more at Bloomberg Commodities News
Sugarcane farmers in Brazil will harvest a record 513.1 million metric tons, up from an April estimate of 491.5 million tons, the government's statistics agency said today. Output will rise from 455.3 million tons last year.
Read more at Bloomberg Commodities News
UPDATE 2-Bank of Canada urges pension plan improvements
(Reuters) - Speaking in Toronto, Dodge outlined changes to tax and accounting regulations that he said would allow defined-benefit pension plans more flexibility and lessen the risk for individuals, plan sponsors and society as a whole.
"There are some shortcomings in our frameworks today. And these shortcomings are putting a great deal of pressure on the sponsors of defined-benefit plans," he said in a speech to the Conference Board of Canada.
Read more at Reuters.com Bonds News
"There are some shortcomings in our frameworks today. And these shortcomings are putting a great deal of pressure on the sponsors of defined-benefit plans," he said in a speech to the Conference Board of Canada.
Read more at Reuters.com Bonds News
Countrywide Treasury Bond Trading Co-Head Kevin Flynn Joins Graham Capital
(Bloomberg) -- Kevin Flynn, the co-head of U.S. government bond trading at Countrywide Securities Corp., quit the firm last week to join hedge fund Graham Capital Management LP.
Flynn, 45, will be one of about 30 portfolio managers at Rowayton, Connecticut-based Graham Capital, which manages $5.75 billion, Kenneth Tropin, the firm's founder, said in an interview.
Read more at Bloomberg Bonds News
Flynn, 45, will be one of about 30 portfolio managers at Rowayton, Connecticut-based Graham Capital, which manages $5.75 billion, Kenneth Tropin, the firm's founder, said in an interview.
Read more at Bloomberg Bonds News
US companies export debt sales amid overseas growth
(Reuters) - U.S. companies have issued an equivalent of $96 billion in bonds in euros, sterling and other major non-dollar currencies year to date, up from $55 billion last year, according to financial data provider Dealogic.
"We've seen a number of U.S. companies tap the European market because they're making acquisitions here and they want to get some euro funding -- and they can," said Joe Biernat, director of research for European Credit Management in London. "The European market is big and deep, and there are plenty of investors here who are happy to lend."
Read more at Reuters.com Bonds News
"We've seen a number of U.S. companies tap the European market because they're making acquisitions here and they want to get some euro funding -- and they can," said Joe Biernat, director of research for European Credit Management in London. "The European market is big and deep, and there are plenty of investors here who are happy to lend."
Read more at Reuters.com Bonds News
Ayala, Bajaj Auto, Dongbu Steel, Gome: Asia Ex-Japan Equity Preview
(Bloomberg) -- The following stocks may rise or fall in Asian markets, excluding Japan. This preview includes news that broke after markets closed. Prices are from the local market's last close. Stock symbols are in parentheses after company names.
ABS-CBN Broadcasting Corp. (ABS PM): The largest Philippine television and radio network operator said first-quarter net income more than doubled to 280 million pesos as the elections boosted advertising sales. ABS-CBN rose 1 peso, or 3.3 percent, to 31.50 pesos.
Read more at Bloomberg Stocks News
ABS-CBN Broadcasting Corp. (ABS PM): The largest Philippine television and radio network operator said first-quarter net income more than doubled to 280 million pesos as the elections boosted advertising sales. ABS-CBN rose 1 peso, or 3.3 percent, to 31.50 pesos.
Read more at Bloomberg Stocks News
UPDATE 1-Uni-Select reports higher first-quarter profit
(Reuters) - The company said it had a net profit of C$5.8 million , or 30 Canadian cents a share, for the quarter ended March 31, up from a profit of C$5.6 million, or 29 Canadian cents a share, in the year-before period.
Sales during the quarter rose 5 percent to C$273.2 million from C$259.6 million in the same quarter of 2006.
Read more at Reuters.com Market News
Sales during the quarter rose 5 percent to C$273.2 million from C$259.6 million in the same quarter of 2006.
Read more at Reuters.com Market News
US Justice Dept eyes federal Nelnet audit-lawmaker
(Reuters) - Nelnet said on Jan. 19 it agreed to a settlement with the U.S. Education Department over an audit by the department's inspector general of a Nelnet portfolio of loans that were getting special allowance payments under a 1980s loan program that guaranteed lenders a 9.5 percent interest rate.
Under the settlement, Nelnet was allowed to keep $278 million worth of the payments that it had received before July 1, 2006, while foregoing additional subsequent claims.
Read more at Reuters.com Government Filings News
Under the settlement, Nelnet was allowed to keep $278 million worth of the payments that it had received before July 1, 2006, while foregoing additional subsequent claims.
Read more at Reuters.com Government Filings News
US House Democrats keep heat on Bush over Iraq war
(Reuters) - House Speaker Nancy Pelosi scheduled the votes for later in the day as members of Bush's own Republican Party have begun to more publicly question the war, which has killed at least 3,377 U.S. soldiers and injured more than 24,000 since 2003. Iraqi soldiers and civilians have suffered far more.
Bush fired back, saying Congress should give military commanders more time and flexibility. As for the House Democrats' bill providing some war funds now and possibly more later, Bush said, "I'll veto the bill if it's this haphazard, piecemeal funding."
Read more at Reuters.com Bonds News
Bush fired back, saying Congress should give military commanders more time and flexibility. As for the House Democrats' bill providing some war funds now and possibly more later, Bush said, "I'll veto the bill if it's this haphazard, piecemeal funding."
Read more at Reuters.com Bonds News
TREASURIES-Bonds up as trade data stokes economic worry
(Reuters) - NEW YORK, May 10 - U.S. Treasuries rose on Thursday after trade deficit figures implied U.S. economic growth in the first quarter was weaker than previously thought.
The rise in bonds corresponded with a sell-off in stocks, which were undermined by the unexpectedly large trade deficit for March and weaker-than-forecast April sales reported by U.S. retailers.
Read more at Reuters.com Bonds News
The rise in bonds corresponded with a sell-off in stocks, which were undermined by the unexpectedly large trade deficit for March and weaker-than-forecast April sales reported by U.S. retailers.
Read more at Reuters.com Bonds News
Ford CEO sees progress on restructuring
(Reuters) - "We are not where we need to be, but we are making very good progress," Mulally told shareholders at the company's annual meeting.
Ford is attempting to engineer a turnaround from last year's record $12.6 billion loss and reinvent itself as a leaner and more flexible competitor.
Read more at Reuters.com Business News
Ford is attempting to engineer a turnaround from last year's record $12.6 billion loss and reinvent itself as a leaner and more flexible competitor.
Read more at Reuters.com Business News
CMBS underwriters taking more risks, Moody's says
(Reuters) - "We are increasingly concerned by the quality of loan underwriting," Daniel Kolter, Moody's team managing director in Europe, said, on the day rival agency Standard & Poor's cut some notes from a UK hotels-backed CMBS to an unprecedented D, or default.
Strong demand for space from tenants, rising rents, and limited new builds are expected to help CMBS issuance break more records this year on both sides of the Atlantic.
Read more at Reuters.com Bonds News
Strong demand for space from tenants, rising rents, and limited new builds are expected to help CMBS issuance break more records this year on both sides of the Atlantic.
Read more at Reuters.com Bonds News
S.Africa government says Mittal price talks unresolved
(Reuters) - South Africa's trade and industry minister said on Thursday his department had not yet reached an agreement on a pricing model with South Africa's Mittal Steel SA, a unit of the world's top steel maker.
"It's not been an easy negotiation with Mittal. We haven't reached a point where we have come to some agreement," Trade and Industry Minister Mandisi Mpahlwa said during a media briefing.
Read more at Reuters Africa
"It's not been an easy negotiation with Mittal. We haven't reached a point where we have come to some agreement," Trade and Industry Minister Mandisi Mpahlwa said during a media briefing.
Read more at Reuters Africa
IPG shares drop after quarterly loss
(Reuters) - Shares of the company fell as much as 7 percent after its quarterly report, which showed a loss applicable to common shareholders of $132.8 million, or 29 cents per share, for the parent company of ad agencies, including DraftFCB and McCann-Erickson.
Its loss was larger than forecast, but still narrowed from a year ago when it posted a loss $182.1 million, or 43 cents a share. Analysts had been expecting it to post a loss of 17 cents per share for this year's first quarter, according to Reuters Estimates.
Read more at Reuters.com Hot Stocks News
Its loss was larger than forecast, but still narrowed from a year ago when it posted a loss $182.1 million, or 43 cents a share. Analysts had been expecting it to post a loss of 17 cents per share for this year's first quarter, according to Reuters Estimates.
Read more at Reuters.com Hot Stocks News
UPDATE 1-Storm dissipates off Florida but rain welcomed
(Reuters) - Andrea's winds had helped fan the 225 wild fires burning in Florida, where the winter dry season was the third-driest on record. Much of the state was under water-use restrictions and blanketed with smoky haze from the fires.
Andrea was a subtropical storm, lacking the warm core and thunderstorms characteristic of a tropical storm. All warnings were dropped and the system was downgraded to a depression on Thursday when its sustained winds weakened to 35 mph .
Read more at Reuters.com Bonds News
Andrea was a subtropical storm, lacking the warm core and thunderstorms characteristic of a tropical storm. All warnings were dropped and the system was downgraded to a depression on Thursday when its sustained winds weakened to 35 mph .
Read more at Reuters.com Bonds News
New Century creditors oppose naming a trustee
(Reuters) - In a filing late on Wednesday with the U.S. bankruptcy court in Wilmington, Delaware, a committee representing the creditors said naming a trustee would also disrupt its own plans to investigate and oversee the company's affairs.
Irvine, California-based New Century filed for Chapter 11 protection on April 2. The creditors said they expect sales of major assets to be completed by mid-June.
Read more at Reuters.com Mergers News
Irvine, California-based New Century filed for Chapter 11 protection on April 2. The creditors said they expect sales of major assets to be completed by mid-June.
Read more at Reuters.com Mergers News
UPDATE 1-Genesis receives two higher takeover offers
(Reuters) - Genesis said it received sweetened bids from Fillmore Capital Partners, as well as the bidding group of Formation Capital and JER Partners.
Fillmore increased its offer to $69 per share in cash, from $67.25 per share. The new offer will remain in effect until May 15.
Read more at Reuters.com Market News
Fillmore increased its offer to $69 per share in cash, from $67.25 per share. The new offer will remain in effect until May 15.
Read more at Reuters.com Market News
Emission Permits May Surge 50 Percent by 2009, Dresdner Kleinwort Predicts
(Bloomberg) -- European Union carbon-dioxide permits may surge as much as 50 percent by 2009, Lueder Schumacher, an analyst at Dresdner Kleinwort, said in a research note.
``In 2008 and 2009, prices could well advance towards 30 euros ($41) a ton again,'' London-based Schumacher said in the note dated yesterday and circulated today. The investment bank maintained its forecast for average prices in the five years through 2012 of 19.50 euros a ton. Schumacher wasn't immediately available for comment today.
Read more at Bloomberg Energy News
``In 2008 and 2009, prices could well advance towards 30 euros ($41) a ton again,'' London-based Schumacher said in the note dated yesterday and circulated today. The investment bank maintained its forecast for average prices in the five years through 2012 of 19.50 euros a ton. Schumacher wasn't immediately available for comment today.
Read more at Bloomberg Energy News
U.S. Treasuries Are Little Changed Before $5 Billion, 30-Year Bond Auction
(Bloomberg) -- U.S. Treasuries were little changed before a $5 billion reopening of an auction for 30-year bonds amid signs the economy may be slowing and inflation moderating.
The 30-year security was unchanged after a government report showed import price increases in April were less than they were in the prior month, leading to speculation the cost of goods and services may not be accelerating. The Federal Reserve yesterday kept borrowing costs at 5.25 percent and said inflation is the ``predominant'' risk to the economy.
Read more at Bloomberg Bonds News
The 30-year security was unchanged after a government report showed import price increases in April were less than they were in the prior month, leading to speculation the cost of goods and services may not be accelerating. The Federal Reserve yesterday kept borrowing costs at 5.25 percent and said inflation is the ``predominant'' risk to the economy.
Read more at Bloomberg Bonds News
Wal-Mart April same-store sales decline
(Reuters) - Last month, Wal-Mart said that meeting its first-quarter earnings forecast of 68 cents to 71 cents per share from continuing operations would be a challenge, given the tough sales outlook for April.
A slew of U.S. retailers reported weak April sales results on Thursday, hurt by cold, stormy weather and an earlier Easter holiday that pulled sales of holiday-related items largely into March.
Read more at Reuters.com Business News
A slew of U.S. retailers reported weak April sales results on Thursday, hurt by cold, stormy weather and an earlier Easter holiday that pulled sales of holiday-related items largely into March.
Read more at Reuters.com Business News
UPDATE 1-Moldflow posts Q3 loss; gives 2007 outlook
(Reuters) - The provider of software and hardware solutions for plastics-focused manufacturing said its third-quarter loss was 67 cents a share, including the $10.2 million charge compared with earnings of 13 cents in the year-ago quarter.
Excluding the charge, the company reported earnings of 24 cents a share for the latest third quarter.
Read more at Reuters.com Market News
Excluding the charge, the company reported earnings of 24 cents a share for the latest third quarter.
Read more at Reuters.com Market News
Besc, CPFL, Petrobras, Usiminas and Vale do Rio Doce: Brazil Equity Movers
(Bloomberg) -- Brazil's main stock index fell for the third time in four days, led by miner Cia. Vale do Rio Doce.
The Bovespa Index of the most-traded stocks on the Sao Paulo exchange fell 349.38, or 0.7 percent, to 50,950.75 as of 9:39 a.m. New York time after trading at a record yesterday.
Read more at Bloomberg Stocks News
The Bovespa Index of the most-traded stocks on the Sao Paulo exchange fell 349.38, or 0.7 percent, to 50,950.75 as of 9:39 a.m. New York time after trading at a record yesterday.
Read more at Bloomberg Stocks News
U.S. import prices up strongly in April
(Reuters) - Prices for imported petroleum climbed 6.5 percent in April after an 8.1 percent rise in March. The department said that, despite the strong rises in March and April, imported petroleum prices have fallen by 1.8 percent over the past year to April.
By contrast, prices for non-petroleum products edged up only 0.2 percent in April and 0.3 percent in March.
Read more at Reuters.com Economic News
By contrast, prices for non-petroleum products edged up only 0.2 percent in April and 0.3 percent in March.
Read more at Reuters.com Economic News
UPDATE 1-PrimeWest to acquire Shiningbank for C$1.25 bln
(Reuters) - The companies said each Shiningbank trust unit will be exchanged for 0.62 of a PrimeWest trust unit.
Based on the C$23.55 closing level of PrimeWest on Wednesday, that values each Shiningbank unit at C$14.60 and the company at around C$1.25 billion, based on the number of shares outstanding, according to Reuters data.
Read more at Reuters.com Mergers News
Based on the C$23.55 closing level of PrimeWest on Wednesday, that values each Shiningbank unit at C$14.60 and the company at around C$1.25 billion, based on the number of shares outstanding, according to Reuters data.
Read more at Reuters.com Mergers News
J.C. Penney April same-store sales fall
(Reuters) - Analysts, on average, had estimated that same-store sales would fall 0.5 percent, according to a Reuters poll.
The Plano, Texas-based company said total department store sales fell 2.7 percent in the four weeks ended May 5, while Internet sales rose about 15 percent for the month.
Read more at Reuters.com Market News
The Plano, Texas-based company said total department store sales fell 2.7 percent in the four weeks ended May 5, while Internet sales rose about 15 percent for the month.
Read more at Reuters.com Market News
Family Dollar April same-store sales down 4.9 pct
(Reuters) - Total sales for the four weeks that ended May 5, fell 1.6 percent to $481.3 million from $489.2 million for the comparable four-week period a year ago.
Read more at Reuters.com Market News
Read more at Reuters.com Market News
Saks April same-store sales rise
(Reuters) - The company said owned sales rose 13.1 percent to $281.3 million for the four weeks ended May 5.
Read more at Reuters.com Market News
Read more at Reuters.com Market News
European Two-Year Notes Decline After Trichet Signals June Rate Increase
(Bloomberg) -- European government bonds fell after European Central Bank President Jean-Claude Trichet signaled an increase in interest rates probably next month.
Benchmark two-year yields are at the highest in five years as Trichet pledged ``strong vigilance'' to combat inflation, a term he used in the past to indicate a rate increase is imminent after the bank left rates unchanged today. Short-term yields have climbed about 30 basis points since the ECB last lifted borrowing costs in March, as traders bet rates will rise twice more this year to 4.25 percent.
Read more at Bloomberg Bonds News
Benchmark two-year yields are at the highest in five years as Trichet pledged ``strong vigilance'' to combat inflation, a term he used in the past to indicate a rate increase is imminent after the bank left rates unchanged today. Short-term yields have climbed about 30 basis points since the ECB last lifted borrowing costs in March, as traders bet rates will rise twice more this year to 4.25 percent.
Read more at Bloomberg Bonds News
Alcan, Constellation, Kinross, Research In Motion: Canadian Equity Preview
(Bloomberg) -- The following is a list of companies whose shares may have unusual price changes in Canadian markets today. This preview includes news that broke after markets closed yesterday. Symbols are in parentheses after company names and prices are from the last close.
The Standard & Poor's/TSX Composite Index fell 20.20, or 0.2 percent, to 13,895.16 yesterday in Toronto.
Read more at Bloomberg Stocks News
The Standard & Poor's/TSX Composite Index fell 20.20, or 0.2 percent, to 13,895.16 yesterday in Toronto.
Read more at Bloomberg Stocks News
RPT-Nordstrom same-store sales rose 3.1 pct in April
(Reuters) - Wall Street, on average, had been expecting it to post a same-store sales rise of 3.9 percent, according to a Reuters survey.
The Seattle-based retailer said preliminary data indicated total sales for the four weeks ended May 5 rose 3.3 percent to $604.0 million.
Read more at Reuters.com Market News
The Seattle-based retailer said preliminary data indicated total sales for the four weeks ended May 5 rose 3.3 percent to $604.0 million.
Read more at Reuters.com Market News
Antitrust hearings on Telkom's BCX bid to restart
(Reuters) - Antitrust hearings into a plan by South African phone firm Telkom to buy IT outsourcing firm Business Connexion are due to restart next week after a delay, the Competition Tribunal said on Thursday.
Hearings were postponed last month, delaying a 2.43 billion rand deal which Telkom says is a crucial plank of its strategy to diversify away from a flagging fixed-line phone business.
Read more at Reuters Africa
Hearings were postponed last month, delaying a 2.43 billion rand deal which Telkom says is a crucial plank of its strategy to diversify away from a flagging fixed-line phone business.
Read more at Reuters Africa
UPDATE 1-BoE raises UK rates to six-year high of 5.5 pct
(Reuters) - All 61 analysts polled by Reuters had predicted the move which takes borrowing costs to their highest level since May 2001. But financial markets reacted strongly initially, only for prices to move back to where they were minutes afterwards.
"The risks to the outlook for inflation in the medium term consequently remain tilted to the upside," the central bank said as it explained the hike.
Read more at Reuters.com Bonds News
"The risks to the outlook for inflation in the medium term consequently remain tilted to the upside," the central bank said as it explained the hike.
Read more at Reuters.com Bonds News
European shares fall as banks, miners weigh
(Reuters) - European shares edged lower on Thursday as banking and mining stocks declined after widespread bid talk surrounding both Rio Tinto and Societe Generale evaporated.
SocGen shares fell nearly 3 percent, making them the largest drag on the pan-European FTSEurofirst 300 index as speculation ebbed regarding a possible takeover of the company by Italy's UniCredit.
Read more at Reuters Africa
SocGen shares fell nearly 3 percent, making them the largest drag on the pan-European FTSEurofirst 300 index as speculation ebbed regarding a possible takeover of the company by Italy's UniCredit.
Read more at Reuters Africa
Czech Inflation Accelerated to Seven-Month High of 2.5 Percent in April
(Bloomberg) -- Czech inflation accelerated to the fastest in seven months in April, boosting chances borrowing costs may be increased as soon as this month.
The inflation rate rose to 2.5 percent from 1.9 percent in March, with consumer prices adding 0.7 percent on the month, the Prague-based statistics office said on its Web site today. The data exceeded a median forecast of 2.2 percent by 10 economists in a Bloomberg survey.
Read more at Bloomberg Emerging Markets News
The inflation rate rose to 2.5 percent from 1.9 percent in March, with consumer prices adding 0.7 percent on the month, the Prague-based statistics office said on its Web site today. The data exceeded a median forecast of 2.2 percent by 10 economists in a Bloomberg survey.
Read more at Bloomberg Emerging Markets News
Costco April same-store sales up 7 pct
(Reuters) - Analysts, on average, had been expecting it to post a same-store sales increase of 6 percent, according to a Reuters survey.
Costco, the largest U.S. warehouse club, said net sales for the month of April, the four weeks ended May 6, rose 12 percent to $4.94 billion.
Read more at Reuters.com Market News
Costco, the largest U.S. warehouse club, said net sales for the month of April, the four weeks ended May 6, rose 12 percent to $4.94 billion.
Read more at Reuters.com Market News
Rand stable, awaits BoE and ECB verdicts
(Reuters) - South Africa's rand was stable versus the dollar on Thursday, ignoring the greenback's marginal gains after a U.S. Federal Reserve statement lowered speculation about rate cuts later this year.
The dollar lifted slightly versus the euro after the Fed left benchmark lending rates unchanged and said its main worry was that inflation would fail to moderate.
Read more at Reuters Africa
The dollar lifted slightly versus the euro after the Fed left benchmark lending rates unchanged and said its main worry was that inflation would fail to moderate.
Read more at Reuters Africa
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