Wednesday, December 14, 2011

DailyMarkets.com - Bristol-Myers, Simcere Extend Ties

DailyMarkets.com - Bristol-Myers, Simcere Extend Ties

Bristol-Myers, Simcere Extend Ties

Posted: 14 Dec 2011 12:50 PM PST

Recently, Bristol-Myers Squibb Company (NYSE:BMY) announced that it has expanded its partnership with the Chinese pharmaceutical company Simcere Pharmaceutical Group (NYSE:SCR). Per the terms of the new deal, the companies will co-develop Bristol-Myers' cardiovascular candidate BMS-795311. We remind investors that the two companies had inked a deal to co-develop cancer candidate BMS-817378 late last year.
Per the terms of the expanded agreement, financial terms of which were undisclosed, Simcere … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Pacific Defies Global Crisis

Posted: 14 Dec 2011 12:35 PM PST

Despite being a small contributor to global output (1.7% in 2010), the Pacific countries anchored by Australia and New Zealand appear to be defying the economic pain of the developed West. The region of 16 countries expects to record a GDP growth rate of 5.0-6.0% in 2011.
Although Australia and New Zealand average a growth rate of 2.0% between them, Timor-Leste and Papua New Guinea expect to register 10.0% in 2011. The region's growth rate for 2012 is estimated to be lower at around … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Hot Option Plays: Trapped.

Posted: 14 Dec 2011 12:34 PM PST

Cusick’s Corner
Trapped, that’s how longs in equities are feeling as we move into the Midday, and I want to see if this bounce off the lows is just another opportunity for the shorts to bang on the longs. With the commodity markets all pulling back, Oil, Grains, Gold, are in a mass liquidation. I talked about this today in an interview with SFO; we are seeing support levels in these assets being challenged. The Corn markets are challenging $580, Oil breaking $97.50, and Gold sliced $1600, which … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

AmSurg Downgraded To Neutral

Posted: 14 Dec 2011 12:20 PM PST

Recently, we downgraded AmSurg Corporation (NASDAQ:AMSG) to Neutral with a target price of $27.00.
In the face of headwinds such as reimbursement issues, higher expenses and tax rate, AmSurg missed the Zacks Consensus Estimate on both the EPS and revenue front. During the quarter, AmSurg reported EPS of $0.42, missing the Zacks Consensus Estimate by $0.01. Although revenues increased 11% year over year to $195.9 million, it was below the Zacks Consensus Estimate of $200 million.
Challenges such as … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Haemonetics Stays Neutral

Posted: 14 Dec 2011 12:05 PM PST

We reiterate our Neutral recommendation on Haemonetics (NYSE:HAE) although the company is witnessing several near-term headwinds.
Haemonetics' revenues were impacted by the voluntary recall (announced in May 2011) of OrthoPAT devices manufactured prior to 2002. The decision to recall the products was prompted by its repair history that led to customer dissatisfaction. In addition, Haemonetics had to substitute its HS core bowl with a more costly product in response to some customer complaints … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – Dollar Surges On Safe Haven Demand

Posted: 14 Dec 2011 11:57 AM PST

Forexpros – The U.S. dollar surged higher against its major counterparts on Wednesday as Italian and Spanish stress increased the euro zones economic fears.

During late session U.S. trade, the greenback was up against the euro, with EUR/USD dropping 0.39% to hit 1.2986.

The single currency continued to falter on higher Italian yields and heavy Spanish bank borrowing from the European Central Bank.

The greenback was also up against the pound, with GBP/USD falling 0.23% to hit … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Grainger’s Sales On A Roll

Posted: 14 Dec 2011 11:50 AM PST

W.W. Grainger Inc. (NYSE:GWW) reported November sales growth of 15% year over year, continuing its double-digit run so far in the year.
Acquisitions added 5 percentage points to growth mainly due to the Fabory business acquired in August. Organic sales increased 10% with higher volume contributing 10 percentage points and pricing adding 2 percentage points. However, a 2-percentage point dip from oil spill related sales in the Gulf of Mexico in 2010 was a partial offset.
Geographically, daily … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Mindray Acquires IT Firm In China

Posted: 14 Dec 2011 11:35 AM PST

Mindray Medical International Limited (NYSE:MR), a leading Chinese medical device manufacturer, recently revealed an agreement to take a majority stake in Zhejiang Greenlander Information Technology Co., Ltd. (“Greenlander”). The terms for the deal were not revealed. The pact will not impact Mindray's financial condition. Greenlander is located in Hangshou, China. 
Mindray aims to generate significant synergies from the acquisition. Greenlander's IT service offerings will prove to be a … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

CU, FCG

Posted: 14 Dec 2011 11:30 AM PST

Weekly update on the First Trust ISE Revere Natural Gas Index Fund and the First Trust ISE Global Copper Index … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

FMC Subsea Equipment For BP

Posted: 14 Dec 2011 11:20 AM PST

Oil drilling equipment maker FMC Technologies Inc. (NYSE:FTI) signed an agreement with British major BP plc (NYSE:BP) whereby the former will manufacture and deliver additional subsea equipment to the latter. The supplied equipments will be utilized by BP to support the current Block 18 deepwater projects offshore Angola.
The scope of the contract involves the supply of four subsea trees, control systems, wellheads, tubing hangers, well jumpers and subsea distribution systems. However, the … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

H-P Wins 7-year Agro Deal Renewal

Posted: 14 Dec 2011 11:05 AM PST

Hewlett-Packard Co.'s (NYSE:HPQ) Swiss-arm has reportedly inked a seven-year information technology (IT) infrastructure service agreement with a globally acknowledged Swiss agribusiness company Syngenta Crop Protection AG. The contract price was kept confidential.
Formed in 2000, Syngenta AG is a vendor of seeds and pesticides across the world, also involved in biotechnology and genomic research.
Leveraging H-P's cloud computing solutions and data center support, Syngenta will shift some IT … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Gold Futures Plunge On Surging Dollar

Posted: 14 Dec 2011 11:02 AM PST

Forexpros –
Forexpros – Gold futures plunged the most in 11 weeks as a surging dollar combined with the Feds refusal to increase stimulus triggered aggressive selling in the precious metal.

On the Comex division of the New York Mercantile Exchange, gold futures for February delivery traded at USD1585.95 a troy ounce during late U.S. trade plummeting 4.64%. It earlier hit a high of USD1645.65.

Gold futures were likely to find support at USD1580.75 and technical resistance exists at … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Patterson-UTI Downgraded To Neutral

Posted: 14 Dec 2011 10:50 AM PST

We have downgraded onshore contract driller Patterson-UTI Energy Inc. (PTEN) to Neutral from Outperform; the primary factor being increased labor costs for contract drilling that may lead to slower margin growth going forward.
Patterson-UTI has approximately 350 land-based rigs that operate mainly in the oil and natural gas producing regions of North America. The company operates primarily in Texas, New Mexico, Oklahoma, Arkansas, Louisiana, Mississippi, Colorado, Utah, Wyoming, Montana, North … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – EUR/USD Breaks Critical Support On Italian Yields

Posted: 14 Dec 2011 10:33 AM PST

Forexpros –
Forexpros – The euro plunged against the U.S. dollar breaking critical psychological support at 1.3000 as Italian yields climbed at a debt auction.

EUR/USD hit a low of 1.2947 during mid session U.S. trade. The pair is off a high of 1.3064 posted earlier, giving back 0.31%.

The pair was likely to find support at 1.2969 and technical resistance exists at 1.3012. The single currency fell to a 10 week low during the session as Italy’s rising yields increased borrowing costs to the … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards
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