Wednesday, September 8, 2010

Daily Markets - Hormel To Acquire Don Miguel

Daily Markets - Hormel To Acquire Don Miguel

Hormel To Acquire Don Miguel

Posted: 08 Sep 2010 09:35 AM PDT

A joint venture between Hormel Foods Corporation (NYSE:HRL) and Mexico-based Herdez Del Fuerte, S.A. de C.V. named MegaMex Foods LLC decided to acquire Don Miguel Foods Corp. entirely from TSG4 L.P., a private equity fund sponsored by TSG Consumer Partners LLC, and private investors. The transaction is expected to conclude by October 2010.
 
The financial terms were not disclosed. The acquisition is expected to help Hormel penetrate convenience stores, club stores and … [visit site to read more]

UDR Offers Common Shares

Posted: 08 Sep 2010 09:35 AM PDT

UDR Inc. (NYSE:UDR), a leading multifamily real estate investment trust (REIT), has recently announced plans to offer 13.5 million common shares to raise cash. The company will also grant the underwriters an option to purchase an additional 2.0 million shares to cover any over-allotments.
BofA Merrill Lynch, the investment banking and wealth management division of Bank of America Corporation (NYSE:BAC) and Wells Fargo Securities, part of Wells Fargo & Company (NYSE:WFC) are acting as joint … [visit site to read more]

ProLogis Leases In Japan

Posted: 08 Sep 2010 09:35 AM PDT

ProLogis (NYSE:PLD), a leading global provider of distribution facilities, recently signed a new lease agreement for about 328,000 square feet at its newly developed distribution facility in Japan. The deal was signed with Hitachi Collabonext Transport System Co., Ltd., a subsidiary of Hitachi Transport System, Ltd., a premier third-party logistics provider in the country and an arm of Hitachi Ltd (NYSE:HIT).
The lessee will occupy the space at ProLogis Parc Kawajima, a 1.55 million square-foot … [visit site to read more]

Equifax Serious On Indian Market

Posted: 08 Sep 2010 09:05 AM PDT

Business and credit information provider Equifax Inc. (EFX) is expanding its business operations in India. The company has made necessary arrangements to provide detailed credit information to its clients, by gathering relevant credit data from some of the largest banking and financial institutions of the country.
 
The company has entered into a joint venture (JV) agreement, with six of India's largest banks and financial institutions such as  Bank of India, Kotak Mahindra Prime … [visit site to read more]

CTS: Diversified, Profitable And Growing

Posted: 08 Sep 2010 09:05 AM PDT

CTS Corp. (NYSE:CTS) designs, manufactures, assembles and sells a broad line of electronic components and sensors. The firm also provides electronics manufacturing services primarily to original equipment manufacturers (OEMs) for the automotive, computer, communications, medical, industrial and defense and aerospace markets.

The firm was established in 1896 as a provider of high-quality telephone products, and was incorporated as an Indiana corporation in February 1929. Along the way, CTS had a … [visit site to read more]

Altera Ups Guidance

Posted: 08 Sep 2010 09:05 AM PDT

As expected, Altera Corporation (NASDAQ:ALTR) recently upgraded its guidance for the third quarter of 2010. Altera now expects revenues to grow 10% – 14% sequentially, up from the prior guidance of 4% – 8%.
The new guidance implies revenues between $516.2 million and $535.0 million, compared with the earlier guidance of $488.0 – $506.8 million. The upgrade in guidance was driven by broad-based growth across all of the four vertical markets that the company serves – 1) Telecom & … [visit site to read more]

Forex Trading: EURJPY Moves Lower Away From Topside Resistance

Posted: 08 Sep 2010 08:52 AM PDT

The resistance outlined in an earlier  post  (click here)  held at the 107.13/21 area and the price has rotated back lower.  The target support comes in at the 106.59 level.  Below that 106.48 where a "Remembered Line" and 100 bar MA on 5 minute chart is … [visit site to read more]

BioSphere Settles Merger Suit (revised)

Posted: 08 Sep 2010 08:35 AM PDT

BioSphere Medical (NASDAQ:BSMD) — and not cancer treatment specialist BSD Medical (NASDAQ:BSDM), as was earlier reported erroneously — has reportedly reached a settlement with shareholders, who filed a lawsuit to block its proposed merger with Utah-based medical product maker Merit MedicalSystems Inc. (NASDAQ:MMSI).

Merit Medical agreed to acquire BioSphere on May 13, 2010, for roughly $96 million in cash. The offer (valued at $4.38 per BSMD shares) represented a 54% premium over BioSphere's closing … [visit site to read more]

Embraer Focuses On Defense

Posted: 08 Sep 2010 08:35 AM PDT

The largest Brazilian aircraft manufacturer, Empresa Brasileira de Aeronautica S.A. (NYSE:ERJ) – Embraer, is in talks with the Colombian government to deliver KC-390 defense aircraft.
 
In August, Embraer signed an agreement with the Chile’s National Aeronautical Enterprise (Empresa Nacional de Aeronautica – ENAER) to deliver KC-390 military transport jet. In July, the Brazilian Air Force (FAB) also announced its intention to buy 28 KC-390s.
 
The KC-390 with a cargo capacity of 23.6 … [visit site to read more]

Forex Trading: GBPUSD Breaks Higher Above Clustered Resistance

Posted: 08 Sep 2010 08:24 AM PDT

Can Bullish Corn Fundamentals Overtake Harvest Pressure?

Posted: 08 Sep 2010 08:17 AM PDT

Fundamentals
Ignoring the benefits of grass fed beef, commodity bulls are feasting on Corn futures once again, as prices have risen to their highest levels in nearly 2 years. Recent gains can be attributed to some private forecasts calling for lower than anticipated Corn yields this year. This past Friday, Informa Economics estimated 2010 U.S. final Corn yields at 158.5 bushels per acre, which is well below the USDA’s August estimate of 165.0 bushels per acre. If final Corn yields do fall … [visit site to read more]

Forex Trading: USDCHF Gives And Then Takes Away. Trading Market In The Pair Continues.

Posted: 08 Sep 2010 08:07 AM PDT

Hudson City Lowered To Underperform

Posted: 08 Sep 2010 08:05 AM PDT

We are downgrading our recommendation on Hudson City Bancorp Inc. (NASDAQ:HCBK) to Underperform from Neutral. Though a solid business model and strong capital levels are the upsides, we believe that the elevated levels of credit metrics remain a concern for the company.
 
The recent regulatory moves are also expected to create pressure on Hudson City's bottom line. Moreover, the low interest rate environment, which is anticipated to continue in the upcoming quarters, would restrict the … [visit site to read more]

MDT Grows CardioVascular Portfolio

Posted: 08 Sep 2010 08:05 AM PDT

Medtronic (NYSE:MDT), one of the largest medical devices company, has received CE Mark approval for its next generation CoreValve delivery system, which is AccuTrak technology-enabled. This technology provides physicians to conveniently place the device, which is crucial for implant procedures. Subsequent to this approval, the company launched the product. Earlier, in March 2007, the original CoreValve received CE Mark approval. However, the product is not yet available in the US, Canada or … [visit site to read more]

Ericsson And Motorola Form Alliance

Posted: 08 Sep 2010 08:05 AM PDT

LM Ericsson Telephone Co. (NASDAQ:ERIC) and Motorola Inc. (NYSE:MOT), through its Motorola Solutions business unit, have entered into an alliance to provide the next generation of mobile communication technology, LTE. Through this alliance, the companies aim to extend a safe communication system to the public using mobile broadband, providing a high speed and safe internet solution.
 
With the rising rate of communication through mobile internet, it has become extremely necessary to ensure safe … [visit site to read more]

Forex Trading: EURJPY Tests Resistance At 107.13/21

Posted: 08 Sep 2010 07:18 AM PDT

The underside of the trendline resistance at 107.13 and the 38.2% retracement at 107.21 is being tested . Look for some profit … [visit site to read more]
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