DailyMarkets.com - CHMP Backs Theravance’s Vibativ
DailyMarkets.com - CHMP Backs Theravance’s Vibativ |
- CHMP Backs Theravance’s Vibativ
- Medtronic Misses On EPS, Revs Beats
- Salesforce-Toyota Make Allies
- Becton’s New Cell Analyzer
- Exagen Diagnostics Joins Medco
- BofA Expanding In Brazil
- Sigma-Aldrich Acquires Vetec
- Earnings Preview: Polo Ralph Lauren
- U.S. Rig Count Holds Steady At 1830
- Earning Preview: Tiffany
- Honda Cuts Working Days
- Hot Option Plays: Resistance Is Former Support Level
- Forex – AUD/USD Up In U.S. Trade
- Tenneco To Buyback Shares
- Sempra To Get Further Energized
- Earnings Preview: NetApp
- Twin Openings In Store At Macy’s
- Owens Illinois Obtains Credit
- Delta And US Airways In Swap Deal
- Troubling Signs Emerge For US Manufacturing, A Review Of Key Indicators
- Forex – NZD/USD Up During The U.S. Session
- Bulls Prep For Continued Run-up In Sprint
- New Home Sales Up, Still Ugly
- Forex Trading: USDJPY Hits A Soft Patch And Scoots Lower
- BP Secures $1.1B Toward Spill Costs
- Citi Bolsters Inv Banking Team
- GBP/JPY Reacting To Triangle And Wedge Resistance At The 133.00 Pivot
- Forex Trading: EURUSD Back Below 1.4100
- “Macro Reports…tempering Mood “
- Health Care Correction In The Works?
- EUR/JPY Completes An AB=CD Correction To 61.8% Retracement
- Euro Rebounds On Risk Appetite
- Forex – GBP/USD Up In U.S. Trade
- European Markets Close Higher; Dax Up 0.41%
- Central Bank Of Nigeria Raises Rate 50bps To 8.00%
- Aimco Lowers Outlook
- Another Jolt For Coffee Drinkers, Retail Prices To Rise Again
- Forex – EUR/USD Up At The End Of European Session
- Credit Markets Take Cautious View Of Risk Recovery
- Nokia To Install Qualcom Chipset
- BJ’s 2011 Unit Growth On Track
- Krispy Kreme Outperforms Estimates
- Swiss Franc: The Downside Prevails
- Australian Dollar: The Downside Prevails
- Canadian Dollar: Key ST Resistance At 98
- Japanese Yen: Under Pressure
- British Pound: The Downside Prevails
- Euro: The Downside Prevails
- Safe Haven Buying Has Gold Bucking The Commodity Trend
- Word From The Floor: US Stocks Open Higher, Energy Shares Gain
- New Home Sales Rise More Than Expected, Prices Climb, Inventories Fall
- Natural Gas Futures Pull Back From 3-week High On Profit-taking
- Forex – Dollar Broadly Lower Vs. Rivals As Euro Recovers
- Forex – GBP/USD Hits Fresh Daily High As Risk Appetite Sharpens
- Crude Rallies On Goldman Forecast Jump
- Gold Futures Jump To 3-week High On Mounting Greece Fears
- Forex – EUR/USD Extends Gains As Greek Debt Concerns Simmer
- Steady As She Goes For The Euro
- Cairn Energy Sets Out Greenland Drilling Plans
| CHMP Backs Theravance’s Vibativ Posted: 24 May 2011 12:05 PM PDT Theravance (NASDAQ:THRX) received a boost recently when the Committee for Medicinal Products for Human Use (CHMP) of the European Medicines Agency (EMA) gave a positive opinion recommending approval of Vibativ for the treatment of nosocomial pneumonia (NP) caused by methicillin-resistant staphylococcus aureus (MRSA).
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| Medtronic Misses On EPS, Revs Beats Posted: 24 May 2011 12:05 PM PDT Medtronic (NYSE:MDT) reported an EPS of 72 cents during the fourth quarter of fiscal 2011 compared to 86 cents in the year-ago period. However, considering certain adjustments (primary being restructuring charges of 18 cents per share), the adjusted EPS came in at 90 cents, missing the Zacks Consensus Estimate of 93 cents and a penny higher than the fourth quarter of fiscal 2010. For fiscal 2011, the company reported a 5% growth in adjusted EPS to $3.37, lower than the Zacks Consensus … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards
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| Posted: 24 May 2011 12:05 PM PDT Salesforce.com Inc. (NYSE:CRM) recently announced a strategic alliance with the multinational automobile manufacturer Toyota Motors Corp. (NYSE:TM). Under the terms of the agreement, the companies will jointly develop a private social networking service, Toyota Friend, for Toyota owners.
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| Posted: 24 May 2011 12:05 PM PDT BD Biosciences, a unit of Becton, Dickinson and Company (NYSE:BDX), recently launched the BD FACSVerse Flow Cytometer, an expandable, flexible and predictable system, which can analyze as many as 10 parameters and support a wide array of research requirements.
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| Exagen Diagnostics Joins Medco Posted: 24 May 2011 12:05 PM PDT Recently Medco Research Institute, a wholly owned subsidiary of Medco Health Solutions (NYSE:MHS) decided to enter into a partnership with Exagen Diagnostics, a specialty diagnostics laboratory that innovates, develops and distributes proprietary tests. Under this collaboration, both the companies plan for pilot launching of a new personalized medicine program called NIMBLE (Novel Interventions in Methotrexate Boosts Levels of Effectiveness) for rheumatoid arthritis patients.
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| Posted: 24 May 2011 12:05 PM PDT Bank of America Corporation (NYSE:BAC) has announced that it has received a multiple bank license from the Central Bank of Brazil to operate as a commercial bank in Brazil. This will enhance the company's competitive strength in Latin America.
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| Posted: 24 May 2011 11:36 AM PDT Biotechnology giant Sigma-Aldrich Corporation (NASDAQ:SIAL) has acquired all outstanding shares of Vetec Quimica Fina Ltda. essentially to fortify the company’s position in Latin America. Terms of the purchase were not disclosed.
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| Earnings Preview: Polo Ralph Lauren Posted: 24 May 2011 11:30 AM PDT Polo Ralph Lauren Corp. (NYSE:RL) is scheduled to release its fourth-quarter 2011 results on Wednesday, May 25, 2011.
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| U.S. Rig Count Holds Steady At 1830 Posted: 24 May 2011 11:30 AM PDT In its weekly release, Houston-based oilfield services company Baker Hughes Inc. (NYSE:BHI) reported an unchanged U.S. rig count (number of rigs searching for oil and gas in the country), as an increase in the number of oil rigs was offset by a fall in the natural gas rig count.
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| Posted: 24 May 2011 11:30 AM PDT Tiffany & Company (NYSE:TIF), a high-end jewelry designer, manufacturer and retailer, is scheduled to report its first-quarter 2011 financial results before the bell on Thursday, May 26, 2011. The current Zacks Consensus Estimate for the quarter is 57 cents a share. For the quarter under review, revenue is $702 million, according to the Zacks Consensus Estimate.
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| Posted: 24 May 2011 11:30 AM PDT Honda Motor Co. (NYSE:HMC) announced that its workers will take 14 additional days off from June to August due to disruptions in manufacturing operations driven by parts shortages. The parts shortage came on the back of earthquake and tsunami in Japan on March 11 that damaged many parts supplying companies' plants and paralyzed the power supply system.
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| Hot Option Plays: Resistance Is Former Support Level Posted: 24 May 2011 11:20 AM PDT Cusick’s Corner
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| Forex – AUD/USD Up In U.S. Trade Posted: 24 May 2011 11:15 AM PDT Forex Pros – The Australian Dollar was higher against the U.S. Dollar on Tuesday after the release of U.S. data on New Home Sales.<br/><br/> AUD/USD was trading at 1.0551, up 0.44% at time of writing.<br/><br/> The pair was likely to find support at 1.0479, Monday’s low, and resistance at 1.0711, Friday’s high.<br/><br/> Earlier in the day, official data showed that new home sales in the U.S. rose more-than-expected to a seasonally … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards
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| Posted: 24 May 2011 11:05 AM PDT Tenneco Inc. (NYSE:TEN) announced that its board of directors has approved a share repurchase program by authorizing the repurchase of up to 400,000 shares of the company's outstanding common stock for the next 12 months.
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| Sempra To Get Further Energized Posted: 24 May 2011 11:05 AM PDT San Diego Gas & Electric ("SDG&E"), a subsidiary of Sempra Energy (NYSE:SRE) has filed for regulatory approval of three new power-purchase contracts for a total of 450 megawatts (MW) of quick-start generation from Peaker plants proposed for San Diego County. Peaker plants are small, efficient power units that can reach full generating capacity within 10 to 15 minutes to meet immediate demand on the grid.
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| Posted: 24 May 2011 11:05 AM PDT NetApp Inc. (NASDAQ:NTAP) is scheduled to announce its fourth quarter 2011 results on May 25. Upward revisions to estimates reflect positive sentiments on the stock.
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| Twin Openings In Store At Macy’s Posted: 24 May 2011 11:05 AM PDT Macy's Inc. (NYSE:M), one of the leading department store retailers in the United States, plans two new stores openings in Chicago and Milwaukee markets. Both stores will trade in a wide range of merchandise, including men's, women's and children's apparel and accessories as well as home textiles, housewares and luggage.
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| Posted: 24 May 2011 11:05 AM PDT Owens-Illinois Inc. (NYSE:OI) recently acquired $2 billion credit, due in 2016, which it plans to deploy for the purpose of refinancing fixed rate bonds and other borrowings dating back to 2006.
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| Delta And US Airways In Swap Deal Posted: 24 May 2011 11:05 AM PDT The second largest U.S. airline Delta Air Lines Inc. (NYSE:DAL) entered into a new slot-swap agreement with US Airways (NYSE:LCC) for $66.5 million in cash.
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| Troubling Signs Emerge For US Manufacturing, A Review Of Key Indicators Posted: 24 May 2011 11:02 AM PDT The US manufacturing sector has been at the forefront of the current recovery and has benefited from strong demand in emerging markets as well as strong domestic spending.
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| Forex – NZD/USD Up During The U.S. Session Posted: 24 May 2011 10:45 AM PDT Forex Pros – The New Zealand Dollar was higher against the U.S. Dollar on Tuesday after the release of U.S. data on New Home Sales.<br/><br/> NZD/USD was trading at 0.7969, up 0.84% at time of writing.<br/><br/> The pair was likely to find support at 0.7860, Monday’s low, and resistance at 0.8015, today’s high.<br/><br/> Earlier in the day, official data showed that new home sales in the U.S. rose more-than-expected to a seasonally … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards
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| Bulls Prep For Continued Run-up In Sprint Posted: 24 May 2011 10:41 AM PDT Bulls prep for continued run-up in Sprint
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| Posted: 24 May 2011 10:40 AM PDT New Home Sales in April rose by 7.3% from April, to a rate of 323,000. Relative to a year ago, sales are down 23.1%. While the rebound is more than welcome, it is still a very dismal rate of New Home sales. In additional good news about the direction of new home sales, the March sales levels were revised up to an annual rate of 301,000 from 300,000. Thus, relative to where we thought we were, it could be seen as a 7.7% increase. The April level was substantially better than the expected rate … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards
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| Forex Trading: USDJPY Hits A Soft Patch And Scoots Lower Posted: 24 May 2011 10:40 AM PDT USDJPY falls below some support levels and have scooted lower in thin trading. There is nothing significant in the news that is prompting the move as far as I can see. The next support below comes in at the 81.71 … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards
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| BP Secures $1.1B Toward Spill Costs Posted: 24 May 2011 10:35 AM PDT BP Plc (NYSE:BP) has taken yet another small but crucial step toward securing capital to pay out the Gulf of Mexico (GoM) blowout-related costs. The contribution will come from Moex Offshore 2007 LLC, which agreed to pay BP approximately $1.065 billion. The amount was, however, much lower than the $2.14 billion that BP had billed to Moex Offshore.
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| Citi Bolsters Inv Banking Team Posted: 24 May 2011 10:35 AM PDT In an effort to strengthen its investment banking business team, Citigroup Inc. (NYSE:C) has hired Samuel Di Piazza, Jr. who retired as Global CEO of PricewaterhouseCoopers International Limited (PwC) in September 2009, after serving in that position since 2002.
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| GBP/JPY Reacting To Triangle And Wedge Resistance At The 133.00 Pivot Posted: 24 May 2011 10:29 AM PDT Containment of Japanese Yen Strength (5/19) - The GBP/JPY has been choppy, and trading sideways with a slight bullish bias in the very short-term as you see higher lows. The 1H chart shows the market in an ascending triangle, with resistance at 133.00.
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| Forex Trading: EURUSD Back Below 1.4100 Posted: 24 May 2011 10:27 AM PDT Patience.
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| “Macro Reports…tempering Mood “ Posted: 24 May 2011 10:22 AM PDT 05/24/11 ICAP’s Kenneth Polcari discusses today’s equity market action, and weighs in on euro-zone sovereign debt … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards
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| Health Care Correction In The Works? Posted: 24 May 2011 10:19 AM PDT By Raghu Gullapalli, contributing writer , SmartStops.net
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| EUR/JPY Completes An AB=CD Correction To 61.8% Retracement Posted: 24 May 2011 10:02 AM PDT EUR/JPY Breaks Rising Trendline and Kills Bullish Momentum in Choppy Trading (5/20) Short-term to Medium-term
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| Euro Rebounds On Risk Appetite Posted: 24 May 2011 05:00 AM PDT 05/24/11 The euro currency rebounded this afternoon with risk appetite remaining strong on improved economic … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards
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| Forex – GBP/USD Up In U.S. Trade Posted: 24 May 2011 10:00 AM PDT Forex Pros – The British Pound was higher against the U.S. Dollar on Tuesday after the release of U.S. data on New Home Sales.<br/><br/> GBP/USD was trading at 1.6180, up 0.36% at time of writing.<br/><br/> The pair was likely to find support at 1.6060, Monday’s low, and resistance at 1.6304, Friday’s high.<br/><br/> Earlier in the day, official data showed that new home sales in the U.S. rose more-than-expected to a seasonally adjusted … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards
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| European Markets Close Higher; Dax Up 0.41% Posted: 24 May 2011 09:55 AM PDT Forex Pros – European stocks were up after the closing bell on Tuesday.<br/><br/> At the close of European trade, Germany’s DAX rose 0.41%, London’s FTSE 100 gained 0.39%, France’s CAC 40 climbed 0.25% and the EURO STOXX 50 was up 0.25%.<br/><br/> Earlier in the day, official data showed that Industrial new orders in the euro zone fell more-than-expected to a seasonally adjusted -1.8% last month from 0.5% in the preceding month whose … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards
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| Central Bank Of Nigeria Raises Rate 50bps To 8.00% Posted: 24 May 2011 09:41 AM PDT The Central Bank of Nigeria increased its monetary policy interest rate by 50 basis points to 8.00% from 7.50% previously. The Bank also increased bank cash reserve requirement by 200bps to 4% from 2%, while the key borrowing and lending rates were both increased by 50bps to 6.00% and 10.00% respectively. The Bank said “The committee held that it would be prudent to adopt a stance that is consistent with the need to address inflationary expectations associated with the excessive … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards
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| Posted: 24 May 2011 09:05 AM PDT Apartment Investment and Management Company (NYSE:AIV) or popularly known as Aimco in real estate investment trust (REIT) has repaid 19 non-recourse property loans, scheduled to mature between 2012 and 2016, with proceeds from new loans. The new loans are all long-term, fixed-rate, non-recourse property loans totalling $674 million. The new loans were closed in three parts within a six-month period, with $219 million in December 2010, $121 million in March 2011 and $334 million in May … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards
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| Another Jolt For Coffee Drinkers, Retail Prices To Rise Again Posted: 24 May 2011 04:00 AM PDT 05/24/11 J.M. Smucker, which sells Folgers and Dunkin’ Donuts brand coffees, has announced its second double-digit price increase this … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards
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| Forex – EUR/USD Up At The End Of European Session Posted: 24 May 2011 09:00 AM PDT Forex Pros – The Euro was higher against the U.S. Dollar on Tuesday after the release of U.S. data on New Home Sales.<br/><br/> EUR/USD was trading at 1.4107, up 0.42% at time of writing.<br/><br/> The pair was likely to find support at 1.3970, Monday’s low, and resistance at 1.4346, Friday’s high.<br/><br/> Earlier in the day, official data showed that new home sales in the U.S. rose more-than-expected to a seasonally adjusted annual … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards
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| Credit Markets Take Cautious View Of Risk Recovery Posted: 24 May 2011 08:57 AM PDT A fading rebound for risk is having remarkably little impact on treasury yields on Tuesday, although bond prices remain in the red. Commodity prices are on the rebound with crude oil futures feeling the full force of a Goldman Sachs "buy" along with other key commodities whose values have slumped on account of a bursting of growth hopes. The low yield environment that follows on from a popping of the commodity bubble is unlikely to make a sharp exit with investors more likely to retain an … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards
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| Nokia To Install Qualcom Chipset Posted: 24 May 2011 08:35 AM PDT The leading mobile phone maker in the world, Nokia Corp. (NASDAQ:QCOM) chipset. Nokia, in order to increase their chipset supplier base, is also in talks with ST-Ericsson, which is a joint venture between Ericsson and STMicroelectronics (NYSE:STM).
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| BJ’s 2011 Unit Growth On Track Posted: 24 May 2011 08:25 AM PDT BJ's Restaurants, Inc (NASDAQ:BJRI), which operates around 105 restaurants, remains on track to open as many as 12 to 13 new restaurants in fiscal 2011, of which three restaurants have already been opened.
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| Krispy Kreme Outperforms Estimates Posted: 24 May 2011 08:25 AM PDT Winston-Salem, North Carolina-based Krispy Kreme Doughnuts Inc (NYSE:KKD) reported strong first quarter 2012 results driven by double-digit growth in the top line and strong margin expansion. During the quarter, the company recorded its highest quarterly earnings since the fourth quarter of 2004.
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| Swiss Franc: The Downside Prevails Posted: 24 May 2011 08:18 AM PDT Update on supports and resistances. … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards
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| Australian Dollar: The Downside Prevails Posted: 24 May 2011 08:18 AM PDT Update on supports and resistances. … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards
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| Canadian Dollar: Key ST Resistance At 98 Posted: 24 May 2011 08:18 AM PDT Update on supports and resistances. … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards
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| Posted: 24 May 2011 08:18 AM PDT Update on supports and resistances. … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards
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| British Pound: The Downside Prevails Posted: 24 May 2011 08:18 AM PDT Update on supports and resistances. … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards
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| Posted: 24 May 2011 08:18 AM PDT Update on supports and resistances. … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards
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| Safe Haven Buying Has Gold Bucking The Commodity Trend Posted: 24 May 2011 08:18 AM PDT Today’s Idea
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| Word From The Floor: US Stocks Open Higher, Energy Shares Gain Posted: 24 May 2011 08:00 AM PDT 05/24/11 Wall Street started the session in positive territory, a day after global markets sold off. Oil advanced with demand forecast lifting … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards
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| New Home Sales Rise More Than Expected, Prices Climb, Inventories Fall Posted: 24 May 2011 07:53 AM PDT After a round of weaker housing data last week including weaker than expected housing starts and building permits, today we saw a positive report in the form of a better than expected new home sales release. var … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards
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| Natural Gas Futures Pull Back From 3-week High On Profit-taking Posted: 24 May 2011 07:53 AM PDT Forex Pros – Natural gas futures pared gains on Tuesday, as investors cashed out of the market to lock in gains from a rally that took prices to a three-week peak. <br /><br />On the New York Mercantile Exchange, natural gas futures for June delivery traded at USD4.337 per million British thermal units during U.S. morning trade, edging 0.1% higher. <br /><br />Earlier in the day, natural gas futures rose by as much as 1.2% to USD4.397, the highest price since May 5, … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards
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| Forex – Dollar Broadly Lower Vs. Rivals As Euro Recovers Posted: 24 May 2011 07:51 AM PDT Forex Pros – The U.S. dollar was broadly lower against its major counterparts on Tuesday, as overall risk appetite improved, with gains in stocks and commodities fuelling demand for higher yielding assets. <br /><br />During early U.S. trading hours, the greenback was down against the euro, with EUR/USD climbing 0.45% to hit 1.4111.<br /><br />The single currency found support after the Ifo institute said German business confidence unexpectedly held steady in May, as … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards
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| Forex – GBP/USD Hits Fresh Daily High As Risk Appetite Sharpens Posted: 24 May 2011 07:34 AM PDT Forex Pros – The pound extended gains against the U.S. dollar on Tuesday, rising to a fresh daily high as a rally in commodities and stocks dampened demand for the safe haven greenback.<br /><br />GBP/USD hit 1.6208 during early U.S. trade, the daily high; the pair subsequently consolidated at 1.6196, gaining 0.46%.<br /><br />Cable was likely to find support at 1.5970, the low of April 1 and resistance at 1.6232, Monday’s high.<br /><br />The … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards
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| Crude Rallies On Goldman Forecast Jump Posted: 24 May 2011 02:30 AM PDT 05/24/11 Front month crude prices rose to trade near $99 a barrel today following Goldman Sachs raising its crude forecasts on OPEC supply … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards
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| Gold Futures Jump To 3-week High On Mounting Greece Fears Posted: 24 May 2011 07:22 AM PDT Forex Pros – Gold futures extended gains on Tuesday, jumping to the highest level in three weeks as ongoing concerns over the euro zone’s peripheral sovereign debt crisis boosted the safe haven appeal of the precious metal.<br /><br />On the Comex division of the New York Mercantile Exchange, gold futures for August delivery traded at USD1,527.95 a troy ounce during U.S. morning trade, climbing … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards
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| Forex – EUR/USD Extends Gains As Greek Debt Concerns Simmer Posted: 24 May 2011 07:15 AM PDT Forex Pros – The euro extended gains against the U.S. dollar on Tuesday, rising to a fresh daily high, while unresolved concerns over Greek sovereign debt continued to simmer.<br /><br />EUR/USD hit 1.4123 during early U.S. trading hours, the daily high; the pair subsequently consolidated at 1.4117, gaining 0.49%.<br /><br />The pair was likely to find short-term support at 1.3968, Monday’s low and a 10-week low and resistance at 1.4345, Friday’s … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards
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| Steady As She Goes For The Euro Posted: 24 May 2011 07:01 AM PDT When the single European currency unit was initially launched more than a decade ago it was nicknamed the "toilet currency" by bearish traders full of disdain for its prospects. Their claim was that the euro would quickly get "flushed away" beyond inception. Having watched its developments on Monday when bears threw everything but the kitchen sink full-on at the euro, one has to admit some respect for at least its staying power. In Tuesday's early going the euro remains north of … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards
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| Cairn Energy Sets Out Greenland Drilling Plans Posted: 24 May 2011 02:16 AM PDT Oil group Cairn Energy (LON:CNE) has set out the details of a planned US$600 million exploration drilling campaign offshore Greenland later this summer. Following an initial three-well operation in 2010, Cairn will drill up to four wells targeting a gross unrisked mean prospective resource potential of 3.2 billion barrels of oil equivalent. It will also shoot around 4,500 sq km of 3D seismic. The group said it had agreed seven exploration targets with the Greenland government, giving it some … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards
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