Daily Markets - Edwards Initiated At Neutral |
- Edwards Initiated At Neutral
- Trade Deficit Drops To $42.8B
- J2 Global Acquires Venali
- Vale Enhances Liquidity
- Rail Traffic At Highest Level Since 2008
- U.K. CRE Price-Growth Dips
- AvalonBay Acquires Asset
- SEC-Citi Settlement Under Scrutiny
- Will Basel III Be A Needle-Mover?
- MetLife Partners With Pattern Energy
- The Great Depression Vs. 2007-2010
| Posted: 09 Sep 2010 11:35 AM PDT We initiated our coverage on Edwards Lifesciences Corporation (NYSE:EW) with a Neutral recommendation.
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| Posted: 09 Sep 2010 11:35 AM PDT The Trade Deficit fell in July to $42.78 billion, down from $49.76 billion in June. This is very good news for the economy…but not good enough. The trade deficit was also substantially smaller than the $47.3 billion consensus expectation. While it was a major month-to-month improvement, on a year-over-year basis the total trade deficit was up 29.3% from $33.09 billion a year ago. The trade balance has two major parts: trade in goods and trade in services. America's problem is always on the … [visit site to read more]
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| Posted: 09 Sep 2010 11:35 AM PDT j2 Global Communications Inc. (NASDAQ:JCOM) has acquired Venali Inc., for approximately $17 million. Venali is a provider of Web-based business fax services. Venali takes pride in its impressive list of clientele and its messaging business alone generated nearly $10 million revenues in the last one year. All pending patent litigation between j2 Global and Venali has also been dismissed.
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| Posted: 09 Sep 2010 11:35 AM PDT Vale S.A. (VALE), the Brazilian miner, disposed of its $1.75 billion of global bonds due 2039 at 110.87% for a yield to maturity of 6.07%, and priced its $1 billion 10-year debt issue at 99.03% of face value for a yield to maturity of 4.748%. The proceeds from the above are to be used for general corporate purposes.
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| Rail Traffic At Highest Level Since 2008 Posted: 09 Sep 2010 11:16 AM PDT WASHINGTON , D.C. – Sept. 9, 2010 – “The Association of American Railroads (AAR) today reported weekly rail carload volume set a new 2010 record for the second consecutive week. U.S. railroads originated 305,000 carloads during the week ending Sept. 4, 2010, up 6.9 percent compared with the same week in 2009, and at comparable levels to the same week in 2008 (see charts above). The 2008 comparison week included the Labor Day holiday while the corresponding weeks in both 2010 and 2009 did … [visit site to read more]
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| Posted: 09 Sep 2010 11:05 AM PDT According to a report published by CB Richard Ellis Group Inc. (NYSE:CBG), the largest multinational commercial real estate firm (on the basis of 2009 revenue), growth in commercial real estate (CRE) prices in the U.K. dipped for the fifth consecutive month in August as investors remained wary of buying even discounted properties.
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| Posted: 09 Sep 2010 11:05 AM PDT AvalonBay Communities Inc. (NYSE:AVB), a real estate investment trust (REIT) primarily focusing on developing multi-family apartment communities, recently acquired Creekside Meadows, a 628-unit apartment community in Tustin, California, for $98.5 million. The acquisition is part of the long-term plan of the company to own assets in high barrier-to-entry markets of the Northeast, Mid-Atlantic, Midwest and West Coast regions of the U.S., where there is very limited new apartment … [visit site to read more]
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| SEC-Citi Settlement Under Scrutiny Posted: 09 Sep 2010 10:35 AM PDT The U.S. Securities and Exchange Commission (SEC) has defended its $75 million settlement with Citigroup Inc. (C) to square off charges for the misleading disclosures of subprime exposures made by Citi in 2007. The SEC has asked for court approval over this arrangement. In July, Citi had agreed to pay $75 million in an effort to settle charges brought by the SEC over subprime exposures disclosure by the company. Besides allegations against the company, the charges also individually targeted … [visit site to read more]
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| Will Basel III Be A Needle-Mover? Posted: 09 Sep 2010 10:35 AM PDT With aftershocks of the recession still reverberating and a very real double-dip threat on the horizon, regulatory officials from more than two dozen countries have come up with a new set of capital standards known as Basel III for the global banking community on Tuesday. The convention is to adopt tougher measures, helping prevent a recurrence of global financial crises and restoring public confidence. The formal approval of the Basel III proposal is expected on September 12, 2010. The entry … [visit site to read more]
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| MetLife Partners With Pattern Energy Posted: 09 Sep 2010 10:35 AM PDT On Tuesday, insurance giant MetLife Inc. (NYSE:MET) entered into a partnership with San-Francisco based Pattern Energy Group LP for an equity investment in the latter's Gulf Wind project located at Texas. However, the terms of the partnership investment remain undisclosed.
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| The Great Depression Vs. 2007-2010 Posted: 09 Sep 2010 09:26 AM PDT The chart above shows monthly unemployment rates from: a) January 1931 to December 1940 (120 months) and b) January 2007 to August 2010. We hear a lot of comparisons between the recent recession and the Great Depression, and the chart above shows that those comparisons are hugely exaggerated. Consider the fact that there were 127 consecutive months of double-digit unemployment rates between November 1930 and May 1941, and 21 consecutive months with unemployment above 20% from April … [visit site to read more]
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