Daily Markets - Tech Sector Watch: Is Mega Merger The Inevitable Solution?

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• Tech Sector Watch: Is Mega Merger The Inevitable Solution?
• No Longer A Sacred Cow
• St. Jude Joins Forces With Hansen
• Obama Is Gradually Losing Independent Voters
• Comcast Deploys SDV In Philadelphia
• A New COO For Denny’s
• Vanda’s Pipeline Progresses
• European Approval For Shire Drug
• Statoil Confirms Snorre Output
• Fred’s Meets, Affirms Outlook
• Toyota Recall Parade Continues
• Buffett Gets 20% Of Munger’s Wesco
• Emerson Launches New Laptops
• IRS To Retire Tax Probe Vs. UBS
• Praxair Thailand To Build CO2 Plant
• Intel Lowers Revenue Forecast
• Monsanto Introduces New Technology
• New Products From Kodak
• New Home Sales In Context
• Lobbying Charges Expand For Visa
• Weyerhaeuser’s Special Dividend
• MICROS Tops Expectations
• The Onion Uncovers A New Form Of Test Bias
• Economic Hypochondria
• No Catastrophe After GDP And Bernanke Speech Bolsters Crude, Stalls Gold

Tech Sector Watch: Is Mega Merger The Inevitable Solution? Posted: 27 Aug 2010 05:12 PM PDT The most active market sector in terms of consolidation is definitely Technology and there is a reason for this wave of M&As. At the forefront of any analysis it is always important to follow the money. This is the real driver of this trend that has been going on for the past year, and will only intensify over the next four months. Who has all the money in the world to spend on major technology purchases? The answer would be large corporations and big governments with both the money and … [visit site to read more]

No Longer A Sacred Cow Posted: 27 Aug 2010 05:01 PM PDT Most people would probably agree on many, if not all, of the core services that a municipal government should provide. Arguably, the majority will involve protecting life and property, including upholding the rule of law. Why is it, then, that bloated state and local government bureacracies with hordes of wastrels on the payroll pushing paper and creating hassles for ordinary citizens are targeting those activities which should be last to feel the pain? Of course, most of us already … [visit site to read more]

St. Jude Joins Forces With Hansen Posted: 27 Aug 2010 03:35 PM PDT Medical devices giant St. Jude (NYSE:STJ) has formed a strategic alliance with Hansen Medical (NASDAQ:HNSN), a leader in medical robotics technology, to jointly develop products to treat heart rhythm disorders (arrhythmia) leveraging their proprietary technologies. The financial terms of the deal were not disclosed. The deal will combine St. Jude's coveted EnSite Velocity Cardiac Mapping System with Hansen's Sensei X CoHesion 3D visualization module, which will enable physicians to use these … [visit site to read more]

Obama Is Gradually Losing Independent Voters Posted: 27 Aug 2010 03:24 PM PDT When Obama took office in January 2009, only about 15% of independent voters disapproved of Obama according to Pollster.com’s consensus of about ten different polls, but that percentage has gradually risen over the last 20 months, and now 54.5% of independent voters disapprove of the president.  Over the same period, the percent of independent voters who approve of Obama has fallen from 62% to … [visit site to read more]

Comcast Deploys SDV In Philadelphia Posted: 27 Aug 2010 03:05 PM PDT The largest cable MSO (Multiple System Operator) in the U.S., Comcast Corp. (NASDAQ:CMCSA) is all set to deploy switched digital video (SDV) in its hometown, Philadelphia, using Motorola Inc. (NYSE:MOT) devices. Earlier in June, Comcast stated in a Federal Communications Commission (FCC) filing that it will abide by the agency's SDV policy and will start rolling-out SDV from the second half of 2010 and more aggressively in 2011. SDV technology distributes digital video content through cable … [visit site to read more]

A New COO For Denny’s Posted: 27 Aug 2010 03:05 PM PDT Denny's Corporation (NASDAQ:DENN) recently announced the appointment of Robert Rodriguez as the chief operating officer (COO), effective by September 13, 2010. He will be responsible for Denny's operations in all franchise and company-operated units. Denny's current management expects Mr. Rodriguez's vast industry experience, both on operational as well as leadership fronts, to benefit Denny's over the long term. Since 2008, Rodriguez served as President and COO at Pick Up Stix, a … [visit site to read more]

Vanda’s Pipeline Progresses Posted: 27 Aug 2010 03:05 PM PDT Recently, Vanda Pharmaceuticals Inc. (NASDAQ:VNDA) announced that it has commenced a late-stage study to evaluate its candidate tasimelteon in patients suffering from non-24-hour sleep wake disorder (N24HSWD). The disorder primarily affects totally blind individuals resulting in abnormal night sleep patterns and chronic daytime sleepiness. The study will evaluate the safety and efficacy of 20 mg tasimelteon against placebo in totally blind individuals suffering from N24HSWD. The company intends to … [visit site to read more]

European Approval For Shire Drug Posted: 27 Aug 2010 02:35 PM PDT Recently, Shire Plc. (NASDAQ:SHPGY) received a boost when the European Commission approved its Gaucher disease product Vpriv (velaglucerase alfa) for marketing in 30 European countries. The decision to approve the product does not come as a surprise as the drug's approval for the long-term treatment of type I Gaucher disease was recommended by the European Medicines Agency's (EMA) Committee for Medicinal Products for Human Use (CHMP) in June 2010. Vpriv, an enzyme replacement therapy, enjoys … [visit site to read more]

Statoil Confirms Snorre Output Posted: 27 Aug 2010 02:35 PM PDT While Statoil ASA (NYSE:STO) is fairly active on the exploration front with the start-up of operations in several new oil and gas fields, it is more positive on the production capacity of Snorre field on Tampen in the North Sea. The company anticipates a volume potential of approximately 900 million barrels of oil equivalents (MMBoe) for the next 30 years. Other relevant fields on Tampen are Statfjord and Gullfaks. Statoil continues to concentrate on important fast-track development projects, … [visit site to read more]

Fred’s Meets, Affirms Outlook Posted: 27 Aug 2010 02:05 PM PDT Fred’s Inc. (NASDAQ:FRED) posted EPS of 14 cents in its second quarter of fiscal 2010, which matched the Zacks Consensus Estimate and came in ahead of 13 cents reported in the year-ago quarter. Comparable store sales growth, increased traffic driven by Fred's sales and profit-driving initiatives resulted in the earnings outperformance. Including the effect of higher income taxes, EPS in the quarter came in at 13 cents compared to 11 cents in the year-ago quarter, an 18% rise. Total sales … [visit site to read more]

Toyota Recall Parade Continues Posted: 27 Aug 2010 02:05 PM PDT Toyota Motor Corp. (NYSE:TM) added 1.33 million vehicles to its series of recalls spanning a period of nearly one year. It includes Corolla sedans and Matrix hatchbacks manufactured between 2005 and 2008 and sold in the U.S. and Canada. In December, the National Highway Traffic Safety Administration began an investigation into Corolla and Matrix vehicles from the 2006 model year due to a possible engine defect that could cause them to stall. Last week, the investigation also included the same … [visit site to read more]

Buffett Gets 20% Of Munger’s Wesco Posted: 27 Aug 2010 02:05 PM PDT Yesterday, Waren Buffett, the chairman and CEO of Berkshire Hathaway Inc. (WSC), a company run and controlled by Charles T. Munger. Following approval by shareholders' of both the companies, the Wesco deal will be financed by a combination of cash and Class-B shares (Buffett uses Class-B shares for acquisitions) based on the book value to the acquiring company. As per book value of $353 per share at the end of June 30, 2010, the deal will cost $514 million to Buffett. Pasadena, … [visit site to read more]

Emerson Launches New Laptops Posted: 27 Aug 2010 01:35 PM PDT A business unit of Emerson Electric Co. (NYSE:EMR), Ridgid, engaged in the manufacture of innovative tools, equipment and video inspection devices, has introduced a group of hardy laptops and convertible tablet PCs.   The innovative products, by Ridgid, are designed on Dell Inc.'s (NASDAQ:DELL) Latitude E-Family of laptops and PCs, E6400 XFR, XT2 XFR, E6410 ATG and E641. E6400 XFR is designed to meet the daily work related challenges. XT2 XFR with innovative multi-touch screen is the thinnest … [visit site to read more]

IRS To Retire Tax Probe Vs. UBS Posted: 27 Aug 2010 01:35 PM PDT The Internal Revenue Service (IRS) is planning to retire the tax probe against UBS AG (NYSE:UBS). This decision of IRS follows the Swiss government's assurance that it is about to deliver the details of the American account holders of UBS AG, who are alleged to have evaded American taxes. Earlier in June, the Swiss parliament voted in favor of a deal that would allow the sharing of banking data for 4,500 clients of UBS AG with the IRS in connection to the tax probe. The details of these clients … [visit site to read more]

Praxair Thailand To Build CO2 Plant Posted: 27 Aug 2010 01:35 PM PDT Praxair Inc.'s (NYSE:PX) subsidiary, Praxair (Thailand) Co. Ltd., announced the construction of a new carbon dioxide plant in Map Ta Phut having capacity to produce 300 tons of liquid carbon dioxide per day. The energy efficient plant is scheduled to start production in the fourth quarter of 2011. Praxair (Thailand) Co. Ltd. operates six carbon dioxide plants and one air separation plant and is the largest carbon dioxide producer in the country.   The new plant will satisfy the increasing … [visit site to read more]

Intel Lowers Revenue Forecast Posted: 27 Aug 2010 01:35 PM PDT Intel Corporation (NASDAQ:INTC) has announced that its revenues for the upcoming third quarter would be impacted by a slowdown in the consumer PC environment. Intel now expects revenues of around $11 billion, give or take $200 million. The company's previous guidance for the quarter was $11.2-$12 billion. Intel's revenue guidance during the second quarter earnings announcement, as well as its continued optimism regarding the consumer segment was met with skepticism, although analysts generally … [visit site to read more]

Monsanto Introduces New Technology Posted: 27 Aug 2010 01:05 PM PDT   Monsanto Company (NYSE:MON) and InterGrain Ptv Ltd agreed to jointly introduce a new wheat growing technology in Australia, the world's major wheat grower and exporter. In accordance with the agreement, Monsanto has acquired a 19.9% stake in the latter.   Together the companies will exchange their germplasm for breeding of wheat, which is expected to enhance yields for the Australian farmers by increasing genetic gain.   InterGrain, a leading breeding company in Australia, was … [visit site to read more]

New Products From Kodak Posted: 27 Aug 2010 01:05 PM PDT Eastman Kodak Company (NYSE:EK) has recently launched three new consumer products -KODAK EASYSHARE M590 Digital Camera with Exclusive Share Button for $199.95, KODAK PULSE Digital Frame also for $199.95 and KODAK PLAYTOUCH Video Camera for $229.95.   Kodak carries out numerous expansion programs and continuously launches new products at competitive prices; which are expected to push growth despite the current difficult environment for the entire industry.   Kodak reported disappointing … [visit site to read more]

New Home Sales In Context Posted: 27 Aug 2010 01:05 PM PDT The shockingly low rate of New Home Sales in July needs to be put into context (see “Worst New Home Sales EVER!”). The only problem is that the context only makes things seem worse than the raw numbers do. The 276,000 annual rate of New Home Sales was the lowest on record, and the record goes back to the start of 1963. At the start of 1963, the population of the country was 188.1 million; in July 2010 it is estimated to be 310.2 million — an increase of 64.9%. More people should mean more … [visit site to read more]

Lobbying Charges Expand For Visa Posted: 27 Aug 2010 01:05 PM PDT Visa Inc. (NYSE:V) has reported that it has spent $1.53 million during the second quarter 2010 to address concerns related to credit card regulations and other issues. The lobbying charges nudged up 14% for Visa from $1.34 million in the year-ago quarter and $1.12 million during the first quarter of 2010.   According to the report filed on July 20, Visa lobbied the federal government on the sweeping new legislation reform and other legislations involving overdraft coverage and the consumer … [visit site to read more]

Weyerhaeuser’s Special Dividend Posted: 27 Aug 2010 01:05 PM PDT Weyerhaeuser Co. (NYSE:WY) announced that it will be issuing approximately 324 million shares as part of its dividend payment to shareholders of record as of July 22. The distribution, based on an average closing price of $15.54 as of August 24, 25 and 26, will increase the company's share outstanding to 536 million.   Weyerhaeuser will be paying its special dividend worth $5.6 billion on September 1, 2010. The cash portion of the distribution will be restricted to 10% or $560 … [visit site to read more]

MICROS Tops Expectations Posted: 27 Aug 2010 01:05 PM PDT MICROS Systems, Inc. (NASDAQ:MCRS) reported revenues of $248.4 million in the fourth quarter of fiscal 2010, up 11.4% year over year, surpassing the Zacks Consensus Estimate of $244 million. On a segment basis, service revenues came in at $162.1 million, up 12.0% year over year. Hardware revenues came in at $52.0 million, down 8.5% year over year. Software revenues came in at $34.0 million, up 13.1% year over year. Gross margin for the quarter came 54.9%, slightly down from 55.4% in the previous … [visit site to read more]

The Onion Uncovers A New Form Of Test Bias Posted: 27 Aug 2010 12:58 PM PDT Are Standardized Tests Biased Against Students Who Don’t Give A Shit? Click on the arrow above to start … [visit site to read more]

Economic Hypochondria Posted: 27 Aug 2010 12:27 PM PDT The Economy’s Not Sick, Says Brian Wesbury–Everyone Just Says It Is … [visit site to read more]

No Catastrophe After GDP And Bernanke Speech Bolsters Crude, Stalls Gold Posted: 27 Aug 2010 11:00 AM PDT North American Commodity Update Commodities - Energy Bernanke's Promise to Fuel US Growth Whets Risk Appetite and Encourages Demand Expectations for Energy Traders Crude Oil (LS Nymex) - $75.17 // $1.81 // 2.47% Investors that were watching intraday price action on the oil market would have seen significant levels of volatility. While stable through most of the Asian and European sessions, the volatile commodity were plunge as much as 2.3 percent through the first signs of liquidity in the … [visit site to read more]

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