Thursday, December 22, 2011

DailyMarkets.com - Bard Buys Lutonix For $225M

DailyMarkets.com - Bard Buys Lutonix For $225M

Bard Buys Lutonix For $225M

Posted: 22 Dec 2011 10:05 AM PST

Leading medical devices maker C.R. Bard (NYSE:BCR) has scooped up Minnesota-based Lutonix, Inc. for roughly $225 million. The deal also calls for an additional milestone payment of $100 million, to be paid upon the U.S. premarket approval ("PMA") of Lutonix's drug-coated percutaneous transluminal angioplasty ("PTA") balloon.
Lutonix is currently conducting an FDA-approved investigational device exemption ("IDE") study ("LEVANT 2") using drug-coated balloons for treating … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

BofA Settles Countrywide Charges

Posted: 22 Dec 2011 09:50 AM PST

In one of the largest settlements by any financial institutions in the history, Bank of America Corporation (NYSE:BAC) has agreed to pay nearly $335 million to settle civil charges against its Countrywide Financial unit. The Department of Justice (DoJ) made this announcement on Wednesday. The settlement agreement was filed with the central district court of California and still subject to court approval.
BofA had acquired Countrywide back in 2008, when the economic crisis was at its peak. The … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Mindray Inks Deal With Novation

Posted: 22 Dec 2011 09:35 AM PST

Mindray Medical International Limited (NYSE:MR), a leading Chinese medical device manufacturer, recently revealed that it inked an agreement with Novation thereby enabling its over 65,000 members and associates to buy Mindray's M5 and M7 ultrasound machines.
Novation is the leading supply contracting firm in the health care business. It provides major savings to over 65,000 members and associates of VHA, UHC and Provista. VHA, UHC and Provista participants utilized Novation contracts to buy … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

MoneyGram Expands Mozido Alliance

Posted: 22 Dec 2011 09:20 AM PST

Yesterday, MoneyGram International Inc. (NYSE:MGI) announced an agreement with Dallas-based Mozido to provide global payment transfer services through certain mobile wallet applications of the company, which is a leading financial services provider for mobile network operators, financial institutions and retailers.
MoneyGram has been using Mozido's mobile gateway service since 2009-end to provide international remittances to subscribers of SMART Communications, with which the company has a … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Quick Updating The SP500 Symmetrical Triangle Into December

Posted: 22 Dec 2011 09:11 AM PST

Gold recently broke from its larger Symmetrical Triangle daily chart pattern, but the S&P 500 (Stock Market) hasn't followed suit yet.
Let's update the current "Bigger Picture" Triangle Price Pattern, note key boundaries, and what to expect next.
First, the S&P 500 standard Daily Chart:

A Symmetrical Triangle Price Pattern – or any major consolidation/compression pattern – has the following three components:

Upper Resistance "Expensive" Line
Midpoint "Fair Value" … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Spectra, Allies OPEN Pipeline Pact

Posted: 22 Dec 2011 09:05 AM PST

Texas Eastern Transmission, LP – a subsidiary of Spectra Energy Corp. (NYSE:SE), American Electric Power (NYSE:AEP) and Chesapeake Energy Marketing, Inc., a wholly owned subsidiary of Chesapeake Energy Corporation (NYSE:CHK) have jointly agreed on a pipeline deal. The pipeline will link the emerging Utica Shale gas supplies to the rapidly growing markets attached to the Texas Eastern system and natural gas fired power generation plants in Ohio.
The plan involves development and expansion of a proposed … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

TAM & Turkish Airlines Share Code

Posted: 22 Dec 2011 08:50 AM PST

TAM S.A (NYSE:TAM) and Turkish Airlines recently entered into a codeshare (flight sharing) agreement which increases the options of destination for their customers willing to fly between South America and Europe. With this bilateral agreement, both members of Star Alliance are now in a position to commercialize seats in certain flights operated by the partnership.
Once effective, the partnership will allow the TAM customer to travel directly between São Paulo and Istanbul in a Turkish Airlines … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Mechel Launches Coke Oven Battery

Posted: 22 Dec 2011 08:35 AM PST

Russian mining and steelmaking company  Mechel OAO (NYSE:MTL) announced the launch of the reconstructed coke-oven battery #5 at Mechel Mining OAO’s subsidiary Mechel-Coke OOO.
The launch of the new coke oven battery with an annual capacity of 470,000 mt of coke allows the company to increase production of coke and chemicals, ensuring the self sufficiency of Mechel Group’s Chelyabinsk Metallurgical Plant and Southern Urals Nickel Plant.
The reconstruction of the plant has enhanced the capacity … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

CZZ Upgraded On LT Growth Prospects

Posted: 22 Dec 2011 08:25 AM PST

We recently upgraded Brazil's sugar and ethanol producer, Cosan Limited (NYSE:CZZ) to a Neutral recommendation. The stock was previously rated Underperform by us.
Cosan, the largest sugar and ethanol producer in Brazil, ranks third in sugar and fifth in ethanol production in the world. Apart from its core operations, the company is also engaged in energy production from sugarcane bagasse and fuel distribution.
The upgrade was on the back of the company's long-term growth prospects that … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

US Stocks Open Higher On Mixed Data

Posted: 22 Dec 2011 08:10 AM PST

12/22/11 Wall Street posted a small advance at the open, following the release of mixed US data. Q3 GDP was downwardly revised, while consumer sentiment topped … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

AK Steel Strikes Labor Deal

Posted: 22 Dec 2011 08:05 AM PST

Recently, AK Steel Holding Corporation (NYSE:AKS) reached a three-year labor agreement with Walbridge workers at its AK Tube facility in Walbridge, located near Toledo.
The company announced that members of United Steelworkers of America Local 1915 approved a new contract that encompasses approximately 100 hourly production and maintenance employees.
The agreement will be effective following the expiration of the existing contract on January 22, 2012.
AK Steel posted a net loss of $3.5 million or … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Natural Gas Futures Turn Lower As U.S. Supply Report Disappoints

Posted: 22 Dec 2011 08:02 AM PST

Forexpros – Natural gas futures erased gains in thin trade on Thursday, pulling back from a one-week high after the U.S. Energy Information Administration said that natural gas inventories declined less-than-expected last week.

On the New York Mercantile Exchange, natural gas futures for delivery in January traded at USD3.119 per million British thermal units during U.S. morning trade, tumbling 1.13%.

It earlier fell by as much as 1.95% to trade at a daily low of USD3.102 per million … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – Dollar Mixed Ahead Of Draghi Press Conference

Posted: 22 Dec 2011 08:01 AM PST

Forexpros – The U.S. dollar was mixed against its major counterparts on Thursday, as markets were jittery after a flurry of U.S. data and ahead of comments by European Central Bank President Mario Draghi.

During U.S. morning trade, the dollar was lower against the euro, with EUR/USD rising 0.13% to hit 1.3065.

Mario Draghi and Bank of England Governor Mervyn King were to hold a joint press conference in Frankfurt later in the day after a meeting of the European Systemic Risk Board.

The … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Euro Steady, Dollar Dips

Posted: 22 Dec 2011 03:00 AM PST

12/22/11 The euro currency remains slightly higher this morning against the dollar as strong US jobs data has helped boost risk … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Crude Creeps Higher, Trades Above $99

Posted: 22 Dec 2011 02:45 AM PST

12/22/11 Crude remained flat this morning on mixed US economic data and a steady … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – GBP/USD Almost Unchanged As Markets Eye Draghi Conference

Posted: 22 Dec 2011 07:29 AM PST

Forexpros – The pound was steady against the U.S. dollar on Thursday, as investors remained cautious ahead of a press conference by the European Central Bank president amid sustained worries over the euros zone's debt crisis.

GBP/USD hit 1.5650 during U.S. morning trade, the daily low; the pair subsequently consolidated at 1.5676, easing up 0.01%.

Cable was likely to find support at 1.5584, the low of December 9 and resistance at 1.5773, the high of December 23.

ECB President Mario … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – EUR/USD Steady Ahead Of Draghi Comments

Posted: 22 Dec 2011 07:10 AM PST

Forexpros – The euro was almost unchanged against the U.S. dollar on Thursday, as markets were jittery ahead of comments by the European Central Bank president as concerns over the debt crisis in the euro zone continued to weigh.

EUR/USD hit 1.3119 during U.S. morning trade, the daily high; the pair subsequently consolidated at 1.3034, edging down 0.09%.

The pair was likely to find support at 1.2956, the low of December 15 and resistance at 1.3197, the high of December 21.

ECB President … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Gold Turns Lower After U.S. GDP, Draghi Comments Awaited

Posted: 22 Dec 2011 07:05 AM PST

Forexpros – Gold futures turned lower in thin year-end trade on Thursday, as the U.S. dollar gained following the release of data showing U.S. economic growth was slower than previously estimated in the third quarter, while sustained concerns over the debt crisis in the euro zone also weighed.

On the Comex division of the New York Mercantile Exchange, gold futures for February delivery traded at USD1,608.15 a troy ounce during U.S. morning trade, shedding 0.34%.

It earlier rose by as much … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

U.S. Revised Michigan Consumer Sentiment Index Improves

Posted: 22 Dec 2011 06:59 AM PST

Forexpros – Consumer sentiment in the U.S. rose more than initially expected in December, official data showed on Thursday.

In a report, the University of Michigan’s said its index of overall consumer sentiment rose by 2.2 points to 69.9 in December, from a preliminary estimate of 67.7.

Analysts had expected the index to rise by 0.5 points to 68.2 in December.

The Michigan consumer sentiment index stood at 64.1 in October.

The index of inflation expectations held steady at 3.1% in … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

U.S. Stocks Edge Higher After Mixed Data; Dow Jones Up 0.32%

Posted: 22 Dec 2011 06:54 AM PST

Forexpros – U.S. stocks edged higher on Thursday, boosted by gains in the financial sector while investors remained cautious after mixed U.S.
GDP and jobless claims data.

During early U.S. trade, the Dow Jones Industrial Average rose 0.32%, the S&P 500 index added 0.53%, while the Nasdaq Composite index advanced 0.51%.

The U.S. Bureau of Economic Analysis said earlier that gross domestic product increased at a seasonally adjusted annual rate of 1.8% during the third quarter, down from a … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Stocks Tick Higher

Posted: 22 Dec 2011 06:15 AM PST

12/22/11 NYFP’s Opening Bell Report: Global stocks were trading higher this morning following strong UK and US jobs … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards
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