Monday, December 5, 2011

DailyMarkets.com - Elan, Lonza In Supply Deal

DailyMarkets.com - Elan, Lonza In Supply Deal

Elan, Lonza In Supply Deal

Posted: 05 Dec 2011 12:05 PM PST

Elan Corporation (NYSE:ELN) recently announced that it has entered into a manufacturing agreement with Lonza Group AG (LZAGY). As per the agreement, Lonza will supply the active pharmaceutical ingredient (API) of ELND005 (scyllo-inositol).
In December 2010, Elan had modified its agreement with Transition Therapeutics Inc. (NASDAQ:TTHI) following Transition Therapeutics' decision to exercise its opt-out right under the original agreement. According to the modified agreement, not only has Transition … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Gap’s Comps Continue To Disappoint

Posted: 05 Dec 2011 11:50 AM PST

Gap Inc. (NYSE:GPS), one of the leading global specialty retailers, reported a 5% drop in same-store sales for the four-week period ended November 26, 2011. Results for the month also compared unfavorably with the year-over-year same-store sales growth of 5%.
Gap witnessed a contraction in same-store sales across each of its segments except Banana Republic North America. The company reported a decline of 7% in Old Navy North America segment compared with positive 7% growth in the prior-year … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Plains To Acquire BP Assets

Posted: 05 Dec 2011 11:50 AM PST

With a view to expanding its operations in Canada, Plains All American Pipeline, L.P.’s (NYSE:PAA) unit Plains Midstream Canada ULC has entered into a definitive agreement to acquire BP plc.’s (NYSE:BP) Canadian natural gas liquids ("NGL") as well as its liquefied petroleum gas ("LPG") business. The acquisition is anticipated to close late in the first quarter or early in the second quarter of 2012, subject to regulatory approval.
Plains All American Pipeline actively relies on acquisitions … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Hot Option Plays: From Hope To Confidence – Latest Market Action

Posted: 05 Dec 2011 11:44 AM PST

Cusick’s Corner
From Hope to Confidence is how I would characterize the market action over the past 6 sessions. The confidence is rooted in the coordinated government actions to step in and get the clean up started in the EU. This has yields on debt coming down and the equity markets in a strong. One market that is not following this trend is Gold, GLD, which backed off fast when it hit resistance, 62% level, as it was retracing off the November lows, $162.07 on November 21st. I am using the … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex Trading: EURUSD Heads Lower On S&P Negative Watch News

Posted: 05 Dec 2011 11:44 AM PST

The EURUSD has moved lower on the back of a comment in the S& P that they are poised to put on credit watch negative the likes of Germany, France and other EU nations. The pair is moving toward the closing level from Friday (at the 1.3403 level) and the 1.3400 level. A move below the level would next look toward the low from Friday's trade at the 1.3362 … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

CMS Energy Sprucing Up Portfolio

Posted: 05 Dec 2011 11:35 AM PST

In a strategic, no less an environmental drive, Consumers Energy, the principal subsidiary of CMS Energy (NYSE:CMS), has announced that it has undertaken a number of initiatives. These include the scrapping of plans for a proposed clean coal plant project near Bay city, Michigan. The energy utility also plans to suspend, by 2015, seven smaller units currently in operation besides making substantial environmental investments at its five major coal-fired units.
The company decided to cancel the coal … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

How To Avoid Being A Principled Republican On Taxes

Posted: 05 Dec 2011 11:22 AM PST

Every time I try to make sense of Republican tax doctrine I get lost.
For example, rank-and-file House Republicans are willing to increase taxes on the middle class starting in a few weeks in order to avoid a tax increase the very rich.
Here are the details: The payroll tax will increase 2 percent starting January 1 – costing most working Americans about $1,000 next year – unless the employee part of the tax cut is extended for another year.
Democrats want to pay for this with a temporary … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

HSBC: An Underperformer

Posted: 05 Dec 2011 11:20 AM PST

We are initiating our coverage on HSBC Holdings plc (NYSE:HBC) with an Underperform recommendation. Our primary concern is the harsh impact from the deepening Euro-zone crisis. Moreover, the company is suffering from weak revenue growth in its mature markets due to the ongoing low interest rates and regulatory restrictions.
Revenue growth remained restrained in recent years as a continued low interest rate environment stained revenue generation from several corners. Reducing loan balances, lower … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Pfizer’s Lipitor In The News

Posted: 05 Dec 2011 11:20 AM PST

November 30, 2011 was a big day for Pfizer, Inc. (NYSE:PFE) with its blockbuster cholesterol drug, Lipitor, losing exclusivity in the US. With so many drugs losing exclusivity, why is the loss of exclusivity of Lipitor such a major event? Well, Lipitor has been a huge revenue generator and its loss of exclusivity could very well represent the biggest generic opportunity in recent times. Lipitor sales came in at $10.7 billion in 2010 with sales for the first nine months of 2011 coming in at $7.6 … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Simon Opens First Outlet In SE Asia

Posted: 05 Dec 2011 11:05 AM PST

Simon Property Group Inc. (NYSE:SPG), a leading real estate investment trust (REIT), has recently opened its first Premium Outlet Center in South East Asia with the inauguration of Johor Premium Outlets in Johor Bahur, Malaysia. The Premium Outlet is a 50-50 joint venture partnership with Genting Berhad – the investment holding and management company of Asian conglomerate Genting Group.
Spanning 173,000 square feet of gross leasable area (GLA) featuring 80 stores, Johor Premium Outlets is … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

EQR: A Minority Stake In Archstone?

Posted: 05 Dec 2011 10:50 AM PST

Confirming the latest buzz in the industry, Equity Residential (NYSE:EQR), a multifamily real estate investment trust (REIT), has entered into an agreement to acquire about a 26.5% ownership stake in rival company Archstone – one of the largest investors, developers and operators of apartment communities in the U.S., for $1.325 billion in cash. The transaction is expected to be completed in the first quarter of 2012, subject to the fulfillment of certain conditions. 
Earlier, the industry … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – USD/JPY Down During The U.S. Session

Posted: 05 Dec 2011 10:45 AM PST

Forexpros – The U.S. Dollar was lower against the Japanese Yen on Monday.

USD/JPY was trading at 77.84, down 0.19% at time of writing.

The pair was likely to find support at 77.30, Wednesday's low, and resistance at 78.16, Wednesday's high.

Meanwhile, the U.S. Dollar was down against the Euro and the British Pound, with EUR/USD gaining 0.23% to hit 1.3422 and GBP/USD rising 0.34% to hit … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

U.S. Rig Count Heads Further Down

Posted: 05 Dec 2011 10:35 AM PST

In its weekly release, Houston-based oilfield services company Baker Hughes Inc. (BHI) reported a dip in the U.S. rig count (number of rigs searching for oil and gas in the country). This can be primarily attributed to a decrease in the tally of land rigs, partially offset by improved offshore rig count.
The Baker Hughes rig count, issued since 1944, acts as an important yardstick for drilling contractors such as Transocean Inc. (RIG), Diamond Offshore (DO), Noble Corp. (NE), Nabors Industries … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Visa Collaborates With Rwanda

Posted: 05 Dec 2011 10:30 AM PST

Early today, Visa Inc. (NYSE:V) announced a deed of collaboration with the government of Rwanda, to expand its electronic payments processing platform across the Sub-Saharan African country.
Rwanda has a dense but primarily rural population, whose economy is based mostly on subsistence agriculture. However, the region is rising up to the developmental needs of the time and hence, the government has charted out a 'Rwanda Vision 2020 Plan'.
This plan calls for development through improved … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Heller: “Seems Pretty Safe To Buy”

Posted: 05 Dec 2011 10:30 AM PST

12/05/11 OnPoint Executions’ Bobby Heller weighs in on the latest developments from the Euro-zone, and today’s advance in US equities as well as the rally in the financial … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Morgans Debuts Mondrian In Europe

Posted: 05 Dec 2011 10:20 AM PST

Morgans Hotel Group Co. (NASDAQ:MHGC) recently penned a 25-year management agreement to develop and manage a Mondrian-branded hotel in London. The agreement has a 10-year extension option. Per the deal, upon completion and inauguration in early 2014, Morgans will continue to operate the hotel.
The property is strategically located at Sea Containers in London to draw business and leisure travelers throughout the year. Morgans plans to inject approximately $15 million into the project.
This represents … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

European Markets Close Higher; Dax Up 0.42%

Posted: 05 Dec 2011 10:05 AM PST

Forexpros – European stocks were up after the closing bell on Monday.

At the close of European trade, Germany's DAX rose 0.42%, London's FTSE 100 gained 0.28%, France's CAC 40 climbed 1.15% and the EURO STOXX 50 was up 1.15%.

Meanwhile, on Wall Street, equity markets were up after the open. The Dow Jones Industrial Average was up 1.24%; the S&P 500 index gained 1.70%, while the Nasdaq 100 index climbed … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Merkel & Sarkozy Lead Another Euro Surge

Posted: 05 Dec 2011 05:00 AM PST

12/05/11 The euro currency continued to rise this session against the dollar as eurozone optimism continues to grow regarding the formation of a plan to tackle the debt … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Banco De Mexico Keeps Interest Rate At 4.50%

Posted: 05 Dec 2011 08:45 AM PST

The Banco de Mexico held its overnight interest rate target steady at 4.50%.  In its monetary policy statement the Bank noted: ”Annual general inflation and its core and non-core components have shown a favorable evolution, although there was a slight increase recently,” further noting a ”persistent slack in the economy, a declining trend in unit labor costs” and “increased levels of competition in some sectors of the economy,” adding, ”in addition, inflation … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Bangko Sentral Ng Pilipinas Holds Rate At 4.50%

Posted: 05 Dec 2011 08:30 AM PST

The Bangko Sentral ng Pilipinas kept its overnight borrowing rate unchanged at 4.50% and the overnight lending rate at 6.50%, and kept reserve requirements unchanged at 21%.  The Bank said: “decision is based on its assessment that the inflation outlook continues to be manageable, with within-target headline inflation and well-contained inflation expectations. Latest baseline forecasts indicate that the annual inflation rates for 2011-2013 are likely to fall within the 3-5 … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards
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