Thursday, December 29, 2011

DailyMarkets.com - Affymetrix-eBioscience Deal Delayed

DailyMarkets.com - Affymetrix-eBioscience Deal Delayed

Affymetrix-eBioscience Deal Delayed

Posted: 29 Dec 2011 12:10 PM PST

Affymetrix (AFFX), a leading provider of microarray-based products and services, recently announced that its proposed merger with eBioscience will be completed in January 2012 against the original expectation of fourth quarter of the current fiscal. The company has cited additional work associated with debt financing for the merger as the reason behind the delay.
Last month, Affymetrix announced its intention of acquiring privately held eBioscience for $330 million in cash. The San Diego, … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Noble Hits Nat. Gas Offshore Cyprus

Posted: 29 Dec 2011 11:55 AM PST

Independent oil and gas producer Noble Energy Inc. (NYSE:NBL) made an offshore natural gas discovery in the Republic of Cyprus. The discovery was made in Cyprus Block 12 which covers an area of 40 square miles (103.6 square kilometers).
The Cyprus A-1 well was spud at a total depth of 19,225 feet (5,859.8 meters) including water depth of 5,540 feet (1,688.6 meters). This resulted in a find of 310 feet of net natural gas pay in multiple high-quality Miocene sand intervals. Noble Energy expects the … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Healthways Tweaks Earnings Estimate

Posted: 29 Dec 2011 11:35 AM PST

Well-being enhancement company Healthways (NASDAQ:HWAY) recently revised its guidance for 2011 due to the restructuring required following the wind down of the Cigna (NYSE:CI) contract, goodwill impairment due to the recent drop in the company's market capitalization and delay in receipt of certain forecast international revenues from the fourth quarter of 2011 to early 2012.
Following Cigna's decision to not renew its contract after February 2013, Healthways will shut down 2 calls centers, which … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Fiserv’s Neutral Rating Retained

Posted: 29 Dec 2011 11:25 AM PST

We continue to maintain a sideline stance on Fiserv Inc. (NASDAQ:FISV), and thereby keep our Neutral recommendation on the company.
Fiserv is a world leader in providing financial services to technology solutions which include E-commerce systems and other services such as transaction processing, electronic bill payment and presentment, business process outsourcing, document distribution services, and software and systems solutions. The company has been inclined towards making profitable acquisitions … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Hot Option Plays: S&Ps Gravitate Towards 1260

Posted: 29 Dec 2011 11:19 AM PST

Cusick’s Corner
Gold, GLD, and Silver, SLV, continue to slide as the weaker long speculators are pressured out. Equities are gravitating towards that 1260 mark on the S&Ps to get the end of the year in the green. Like I mentioned earlier this week, as long as we have 3 of the 4 offensive sectors — XLF, XLB, XLI, this could be the catalyst to get 2011 in the green. See you After Hours.

Stock market averages are holding gains with help from economic data Thursday. Data released before the … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Earnings Scorecard: Walgreen

Posted: 29 Dec 2011 11:05 AM PST

Subsequent to the announcement of Walgreen's (NYSE:WAG) first quarter 2012 (ended November 30) results on December 21, 2011, majority of the analysts have reduced their estimates for the forthcoming period.
Previous Quarter Highlights
Walgreen reported first quarter 2012 EPS of 63 cents, a penny higher than the year-ago quarter earnings but missed the Zacks Consensus Estimate of 67 cents. The result includes a negative impact of 1 cent per share related to the delay in the cough/cold and flu … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Citigroup Sheds Belgian Retail Biz

Posted: 29 Dec 2011 10:50 AM PST

Citigroup Inc. (NYSE:C) is selling its retail business in Belgium to Credit Mutuel Nord Europe (CMNE) as part of its effort to shed non core assets. The transaction is expected to close in the second quarter of 2012. Terms of the deal were, however, kept confidential. The sale includes Citigroup's credit-card and consumer-loan business.
The deal is also a strategic fit for CMNE. It would facilitate the company to increase its product offerings as well as broaden its footprint particularly in … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Central Bank Of Taiwan Holds Interest Rate At 1.875%

Posted: 29 Dec 2011 10:47 AM PST

The Central Bank of the Republic of China (Taiwan) held its discount rate unchanged at 1.875% and the collateralized loan rate at 2.250% and the unsecured loans rate at 4.125%.  Bank Governor, Perng Fai-nan, said: ”Overall, Taiwan’s economy continues to register moderate growth amid global economic uncertainties, while the 2012 price trends still require close monitoring. In addition, interest rates are at low levels. Against this backdrop, the Board judges that the current … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

U.S. Telecom: Looking Ahead At ’12

Posted: 29 Dec 2011 10:40 AM PST

The telecommunications industry is growing consistently despite a volatile U.S. economy. This industry is identified as a major driver of economic recovery. Telecommunications is one of the few industries to have seen rapid technological improvement even during the last recession.
Given the significance of the telecommunications industry as an infrastructure product, we expect the overall economic dynamics to shift in its favor. We also expect the telecommunications industry to grow faster in … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Gold Futures Plunge On Dollar Rally

Posted: 29 Dec 2011 10:34 AM PST

Forexpros – Gold futures slumped lower on Thursday as the U.S. dollar rallied on increased euro zone debt fears.

On the Comex division of the New York Mercantile Exchange, gold futures for February delivery traded at USD1535.55 a troy ounce during mid U.S. trade plunging 1.83%

It earlier hit a high of USD1562.65.

Gold futures were likely to find short term support at USD1531.99 and intraday technical resistance exists at USD1539.39.

The U.S. dollar strength added to gold’s bearishness as … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

CNOOC Offloads Indonesian Stake

Posted: 29 Dec 2011 10:20 AM PST

Chinese oil giant CNOOC Limited (NYSE:CEO) announced the sale of its 36.7205% working interest in Offshore Northwest Java Production Sharing Contract (ONWJ PSC) in Indonesia to EMP International (BVI) Limited, an affiliate of PT Energi Mega Persada.
CNOOC's subsidiary – CNOOC Southeast Asia Limited – will receive a consideration of $212 million from the divesture.
PT Pertamina Hulu Energi – a unit of state-owned oil and gas firm PT Pertamina owns the operating rights of ONWJ PSC. As of … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Polcari: “EU Debt Crisis Has Not Gone Away”

Posted: 29 Dec 2011 10:20 AM PST

12/29/11 ICAP Equities’ Kenneth Polcari weighs in on the latest economic data and Italian bond auction ahead of the new year. Market trends and sectors that will be watched in 2012 are also … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Capella Pushed Downward

Posted: 29 Dec 2011 10:05 AM PST

The economy is in the doldrums, showing no leniency for any sector. Since every industry is directly or indirectly linked with the economy, troubles at one end percolate down to the other and form a ripple effect until an entire cycle is completed. It's now time for the Education Industry to bear the brunt.
People, either employed or unemployed, pull their socks, pack their bags, and head toward education institutions to enhance their skills in order to shield themselves from money woes. But … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – EUR/USD Hits 15 Month Low On Debt Fears

Posted: 29 Dec 2011 09:51 AM PST

Forexpros – The euro plunged against the U.S. dollar Thursday, as the much anticipated Italian bond auction failed to meet the target, increasing debt crisis fears.

EUR/USD hit a low of 1.2858 during mid session U.S. trade. The pair is off a high of 1.2960 and is currently trading at 1.2938 down 0.02%.

The pair was likely to find short term support at 1.2918 and intraday technical resistance exists at 1.2967.

Light Christmas and New Years holiday volume added to the volatility as traders … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

European Shares Higher On U.S. Business Data; DAX Surges 1.34 %

Posted: 29 Dec 2011 09:18 AM PST

Forexpros – European stocks closed higher on Thursday on the heels of positive U.S. business data despite an Italian bond auction missing its target.

After the close of European trade, the EURO STOXX 50 was higher by 1.65%France’s CAC 40 climbed 1.84%, while Germany’s DAX 30 advanced 1.34%. Meanwhile, in the U.K. the FTSE 100 jumped higher by 1.08%.

Euro shares closed higher on the session after the Institute for Supply Management reported a less than forecast decrease in its business … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Oil Prices Float Above $99

Posted: 29 Dec 2011 02:10 AM PST

12/29/11 Front month crude prices were trading slightly higher this morning, lingering just above $99 a barrel, as investors await the results of the EIA’s inventory data … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards
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