Daily Markets - Plains Sells Gulf Of Mexico Assets |
- Plains Sells Gulf Of Mexico Assets
- US Approval For Medtronic’s Stent
- Bernanke May Be Moving Further And Further Away From The Gold Standard
- Indian Company Eyes MGM
- UFPI Downgraded To Underperform
- BMY’s Diabetes Candidate Encourages
- AutoZone Profits Up 14%
- Indian Company Eyes MGM
- USD/JPY Bounces Off Resistance
- Long Swiss Franc Anyone?
- James Chanos On Auto Companies, China, And More
- SKM To Enter LightSquared Venture
- Wunderman To Acquire Comwerks
- Results From Abiomed U.S. Registry
- TLK To Acquire Bakrie Telecom
- JetBlue Initiated At Neutral
- Stent Approval Spurs Demand For Boston Scientific Corp. Calls, Lifts Shares
| Plains Sells Gulf Of Mexico Assets Posted: 21 Sep 2010 12:05 PM PDT Plains Exploration & Production Company (NYSE:PXP) entered into a cash and stock deal with McMoRan Exploration Company (MMR) to sell its shallow water Gulf of Mexico assets. As per the deal, Plains will receive roughly $818 million for all of its Gulf of Mexico leasehold assets located at less than 500 feet of water.
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| US Approval For Medtronic’s Stent Posted: 21 Sep 2010 12:05 PM PDT Medtronic (NYSE:MDT) has received approval from the US Food and Drug Administration (FDA) for its Integrity coronary stent system, which is based on advanced sinusoid technology. In February the system received CE Mark approval, subsequent to which Medtronic reached the lead position for bare metal stents (BMS) in Western Europe and Central Asia. The company's cardiovascular portfolio consists of bare metal and drug-eluting stents (DES) to treat patients suffering from coronary artery … [visit site to read more]
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| Bernanke May Be Moving Further And Further Away From The Gold Standard Posted: 21 Sep 2010 11:50 AM PDT Ben had served his master for seven years, so he said to him, master, my time is up, now I should be glad to go back home to my mother, give me my wages. The master answered, you have served me faithfully and honestly, as the service was so shall the reward be. And he gave Ben a piece of gold as big as his head. Ben pulled his handkerchief out of his pocket, wrapped up the lump in it, put it on his shoulder, and set out on the way home.
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| Posted: 21 Sep 2010 11:35 AM PDT Joining a queue of several suitors like Time Warner Inc. (NYSE:TWX), Spyglass Entertainment Group, LLC, and Lions Gate Entertainment Corp. (NYSE:LGF) to salvage the debt-ridden Hollywood studio Metro-Goldwyn-Mayer ("MGM") is an Indian conglomerate. Sahara India Pariwar has put forward a bid to buy the debt of MGM for around $2 billion. This attempt would help bring Hollywood and Bollywood together.
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| UFPI Downgraded To Underperform Posted: 21 Sep 2010 11:35 AM PDT We recently downgraded our rating for Universal Forest Products Inc. (NASDAQ:UFPI), a manufacturer and distributor of lumber, composite wood, plastic and other building products, from Neutral to Underperform. We downgrade based on a host of factors including weak second quarter results, huge dependence on general market conditions and growth in end markets, volatility in cost of lumber products, and enormous customer concentration.
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| BMY’s Diabetes Candidate Encourages Posted: 21 Sep 2010 11:35 AM PDT Recently, Bristol-Myers Squibb Company's (NYSE:BMY) pipeline received a boost when its type II diabetes candidate, dapagliflozin, fared well in a late-stage multicenter, international, randomized, parallel-group, double-blind, placebo-controlled study (n=597). Dapagliflozin, a once-daily pill, is being co-developed with AstraZeneca Plc (AZN) for treating patients suffering from type II diabetes which is characterized by the dysfunction of beta cells in the pancreas. This results in reduced … [visit site to read more]
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| Posted: 21 Sep 2010 11:35 AM PDT AutoZone Inc. (NYSE:AZO) has posted a 14% increase in profit to $268.9 million or $5.66 per share in the fourth quarter of its fiscal 2010 ended August 28, 2010 from $236.1 million or $4.43 per share in the year-ago quarter. With this, the automotive retailer has exceeded the Zacks Consensus Estimate of $5.44 per share during the quarter. Net sales increased 9.5% to $2.4 billion, meeting the Zacks Consensus Estimate during the quarter. Domestic same store sales (open at least one year) rose 6.7%. … [visit site to read more]
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| Posted: 21 Sep 2010 11:35 AM PDT Joining a queue of several suitors like Time Warner Inc. (TWX), Spyglass Entertainment Group, LLC, and Lions Gate Entertainment Corp. (LGF) to salvage debt-ridden Hollywood studio, Metro-Goldwyn-Mayer ("MGM"), is an Indian conglomerate Sahara India Pariwar, which has put forward a bid to buy the debt of MGM for around $2 billion. This attempt on part of Sahara Indian Pariwar would help bring Hollywood and Bollywood together.
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| USD/JPY Bounces Off Resistance Posted: 21 Sep 2010 11:31 AM PDT Price action on USD/JPY (a 4-hour chart of which is shown) as of Tuesday (9/21/2010) has, for the time being, respected the confluence of resistance at: the 86.00 level and the key downtrend resistance line extending from the 2010 high hit in May. Therefore, despite the substantial bullish move that occurred last week, the fact that price has tentatively respected this resistance confluence with a bearish bounce indicates that the pair is technically still within the confines of a … [visit site to read more]
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| Posted: 21 Sep 2010 11:30 AM PDT Hiyo FX friends! Here's my short and sweet technical view on the CHFJPY pair. As you can see from its daily chart, the pair has broken out from a rare inverted head and shoulders continuation pattern. You see, an inverted head and shoulders pattern is generally a bullish reversal pattern although it can occur as a continuation from time to time as in this case. In any case, the upside target for the pair, judging by the height of the pattern and projecting it from the point of … [visit site to read more]
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| James Chanos On Auto Companies, China, And More Posted: 21 Sep 2010 11:16 AM PDT Jim Chanos was on CNBC this morning. He had some interesting words to say especially in regards to China. Chanos who has stated that China is in a huge bubble, actually compared the company to Enron today. He's still describing the Chinese economy as a "treadmill to hell" because the country has to keep building like crazy just to keep the GDP numbers up. I tend to agree that China has a massive real … [visit site to read more]
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| SKM To Enter LightSquared Venture Posted: 21 Sep 2010 11:05 AM PDT SK Telecom Corp. Ltd. Co. (NYSE:SKM), the largest wireless carrier of South Korea, is again trying its luck in the nearly saturated but lucrative U.S. wireless market. The company has decided to invest in the LightSquared venture, which is trying to become a U.S. wholesale wireless operator specializing in next-generation (4G) LTE network. LightSquared is promoted by the private equity firm Harbinger Capital Partners.
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| Posted: 21 Sep 2010 11:05 AM PDT WPP Group Plc's (NASDAQ:WPPGY) wholly-owned operating company Wunderman, the world’s largest digital and interactive network, entered into an agreement to acquire a 51% stake in Comwerks Pte Ltd, Singapore's leading full service digital agency specializing in digital media and web 2.0 solutions.
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| Results From Abiomed U.S. Registry Posted: 21 Sep 2010 11:05 AM PDT The September 2010 issue of The Annals of Thoracic Surgery recently published results from the registry of cardiac assist devices maker Abiomed Inc. (NASDAQ:ABMD) in a paper titled "Use of the AB5000 Ventricular Assist Device in Cardiogenic Shock After Acute Myocardial Infarction (AMI)".
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| Posted: 21 Sep 2010 10:35 AM PDT P.T. Telekomunikasi Indonesia Tbk. (NYSE:TLK), the largest integrated telecom service provider of Indonesia, has decided to acquire smaller telecom service providers in Indonesia like P.T. Bakrie Telecom to expand its CDMA network. The deal size is likely to reach up to $1 billion and is expected to be closed by end 2010, subject to regulatory approval.
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| Posted: 21 Sep 2010 10:35 AM PDT We are initiating coverage on JetBlue Airways (NASDAQ:JBLU) with a Neutral rating. Currently, the stock has a Zacks Rank of #3 (Hold).
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| Stent Approval Spurs Demand For Boston Scientific Corp. Calls, Lifts Shares Posted: 21 Sep 2010 10:32 AM PDT Boston Scientific Corp. (NYSE:BSX) – Call options on the medical devices maker are active this morning on news one of the company's stents has received regulatory approval for additional uses in Europe. Boston Scientific's PROMUSElement Everolimus-Eluting Coronary Stent System was given CE Mark approval for use in patients suffering from diabetes and for use in those patients experiencing a heart attack. BSX shares reacted by rallying 4.7% to an intraday high of $5.80 as of 12:00 pm … [visit site to read more]
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