Friday, December 9, 2011

DailyMarkets.com - Starwood Buys Stake In German Asset

DailyMarkets.com - Starwood Buys Stake In German Asset

Starwood Buys Stake In German Asset

Posted: 09 Dec 2011 10:35 AM PST

Starwood Hotels & Resorts Worldwide Inc. (NYSE:HOT) recently signed a deal to acquire a 49.8% stake at Design Hotels AG from Arabella Hospitality SE in Germany. Financial terms of the deal were not disclosed. The transaction is scheduled to close in the first quarter of 2012.
Berlin-based Design Hotels boasts of a portfolio of over 200 member hotels in 40 countries providing distribution, sales, marketing and consulting services for hotels. Starwood shares a longstanding partnership with … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

DDR-Glimcher Completes Asset Swap

Posted: 09 Dec 2011 10:20 AM PST

DDR Corp. (NYSE:DDR), a real estate investment trust (REIT), has recently completed the asset swap transaction that was announced earlier in September 2011 with one of its peers Glimcher Realty Trust (NYSE:GRT). The asset swap was part of the respective corporate strategy to better align the portfolio with the other's operating platform. The transaction is expected to be accretive to earnings of both the participating companies.
In concurrence with the agreement, DDR sold Town Center Plaza – an … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

LabCorp-Orchid Deal Evinces FTC Nod

Posted: 09 Dec 2011 10:05 AM PST

Laboratory Corporation of America Holdings (NYSE:LH) received the much awaited nod from the US Federal Trade Commission (FTC) for the proposed acquisition of Orchid Cellmark (NASDAQ:ORCH). The FTC nod comes with the rider that LabCorp will have to hive off certain assets of Orchid's US government paternity business following completion of the transaction. This would reduce the "anti-competitive impact" of the proposed merger, according to the federal agency. LabCorp has agreed to sell those … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – GBP/USD Up In U.S. Trade

Posted: 09 Dec 2011 10:00 AM PST

Forexpros – The British Pound was higher against the U.S. Dollar on Friday after the release of U.S. data on Michigan Consumer Sentiment Index.

GBP/USD was trading at 1.5641, up 0.08% at time of writing.

The pair was likely to find support at 1.5561, Tuesday's low, and resistance at 1.5770, Thursday's high.

Earlier in the day, preliminary data showed that U.S. UoM consumer sentiment rose more-than-expected to a seasonally adjusted 67.7 last month from 64.1 in the preceding … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

European Markets Close Higher; Dax Up 1.91%

Posted: 09 Dec 2011 09:55 AM PST

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

At the close of European trade, Germany's DAX rose 1.91%, London's FTSE 100 gained 0.83%, France's CAC 40 climbed 2.48% and the EURO STOXX 50 was up 2.38%.

Meanwhile, on Wall Street, equity markets were up after the open. The Dow Jones Industrial Average was up 1.38%; the S&P 500 index gained 1.55%, while the Nasdaq 100 index climbed … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Patterson Cos Retained At Neutral

Posted: 09 Dec 2011 09:50 AM PST

We reaffirm our Neutral rating on the Patterson Companies (NASDAQ:PDCO), a leading distributor of dental, companion-pet veterinarian and rehabilitation medical supplies. The company posted tepid second-quarter fiscal 2012 results with both revenues and earnings missing the Zacks Consensus Estimates.
Profit clipped roughly 8% year over year on account of charges related to the company's Employee Stock Ownership Plan ("ESOP"). Revenues were essentially flat year over year at $856.9 million. … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Gold Erases Losses On EU Currency Optimism

Posted: 09 Dec 2011 09:37 AM PST

Forexpros – Gold prices rose Friday, reversing earlier losses as investors snapped up the precious metal that initially fell on news that European leaders were making progress to tackling their debt issues, which had firmed demand for gold’s traditional hedge: paper currencies.

On the Comex division of the New York Mercantile Exchange, gold futures for February delivery traded at USD1,717.65 a troy ounce during Asian trading, rising 0.25% and slightly off from a session high of 1,727.95 and … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Who Is The Smartest Of Them All?

Posted: 09 Dec 2011 09:35 AM PST

With the whole world increasingly going mobile, top phone makers such as Samsung, LG, Motorola, Apple (NASDAQ:AAPL) and Research In Motion (NASDAQ:RIMM) are scrambling to bring smarter devices to the market. In fact, phone makers are touting screen size, resolution, virtual or real QWERTY keyboards, video conferencing, recording and streaming, social networking, office integration and what not to boost sales. 
While our parents may have considered a phone good if it offered noise-free, good-quality … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Comcast Emphasizing SMB Segment

Posted: 09 Dec 2011 09:35 AM PST

Comcast Corp. (NASDAQ:CMCSA), the largest cable MSO in the U.S., is aggressively exploiting small and mid-sized (SMB) business opportunities. The company is currently providing metro Ethernet services in 20 major U.S. markets and is expected to offer the services in most of its point-of-presences by the end of 2011.
The U.S. telecom giants are gradually expanding their fiber-optic pay-TV services. Verizon Communications Inc. (NYSE:VZ) with FiOS network and AT&T Inc. (NYSE:T) with U-Verse network have … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Ferrellgas Reports Mixed 1Q

Posted: 09 Dec 2011 09:35 AM PST

Ferrellgas Partners LP’s (NYSE:FGP) reported net loss per unit of 42 cents for the first quarter of fiscal 2012, ending October 31, wider than the Zacks Consensus Estimate of a loss of 30 cents. The quarter's loss was 2 cents higher than the prior-year quarter loss of 40 cents.
The results of the partnership reflect the impacts of the seasonal retail propane distribution business, and the historical nature of the partnership's performance during the first and fourth quarters of the fiscal … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

The Taming Of Inflation In China

Posted: 09 Dec 2011 09:20 AM PST

China's National Bureau of Statistics recently stated that the country's inflation rate has fallen from a 3-year high of 6.5% last July to 4.2% year-over-year in November, which represents its slowest rate of growth in over a year. Producer prices inched up just 2.7% year on year, the lowest in nearly 2 years. Food inflation, a politically sensitive topic, moderated on a sequential basis to 8.8% in November from 11.9% in October.
Clearly, the Chinese economy is cooling down as the outlook … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

JPMorgan May Repurchase More Shares

Posted: 09 Dec 2011 09:20 AM PST

While addressing The Goldman Sachs Group Inc. (NYSE:GS) investor conference on Wednesday, JPMorgan Chase & Co. (NYSE:JPM) CEO Jamie Dimon stated that the company has the authority to buyback more of its shares. The company made this possible by utilizing less money on dividend payments than what was approved by the Federal Reserve.
Now as a part of the earlier approved capital plan, JPMorgan can spend $950 million on share repurchases. Earlier this year, the company along with 18 other banks, … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

H&R Block Boosts Shareholders Value

Posted: 09 Dec 2011 09:05 AM PST

With an intention to return more value its shareholders, the board of directors of H&R Block Inc. (NYSE:HRB) authorized an increase of 33% in its dividend. The company will now pay a dividend of 80 cents per share, up from 60 cents per share paid earlier.
The increase will be effective with payment of quarterly dividend of 50 cents per share. The first increased dividend will be paid on January 5, 2012 to the shareholders as of December 22, 2011.
The dividend increase announcement came after a … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Trade Deficit Both Up And Down

Posted: 09 Dec 2011 09:05 AM PST

The Trade Deficit fell in October to $43.47 billion from $44.17 billion, but the decline was only due to an upward revision to September from $43.11 billion. Thus, you could see it as a 1.6% decline, or a 0.8% increase depending if you use the current or original figures for September. It was better than the expected level of $44.0 billion. Factor in both the beat and the revisions and call it an in-line report.

On a year-over-year basis, the total trade deficit was up by 10.2% from $39.45 … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – EUR/USD Firms On EU Summit Progress

Posted: 09 Dec 2011 09:03 AM PST

Forexpros – The euro rose against the dollar on Friday as the market digested conclusions of an EU summit, where member nations decided to move forward toughening fiscal policies even it meant somewhat isolating neighboring trading partner Great Britain.

EUR/USD hit 1.3380 during in mid-session U.S. trading, rising 0.30% and off from an earlier session high of 1.3434 while up after testing support at 1.3282 earlier in the day.

Support for the unit was seen at 1.3282, the session’s low and … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – EUR/USD Up At The End Of European Session

Posted: 09 Dec 2011 09:00 AM PST

Forexpros – The Euro was higher against the U.S. Dollar on Friday after the release of U.S. data on Michigan Consumer Sentiment Index.

EUR/USD was trading at 1.3367, up 0.20% at time of writing.

The pair was likely to find support at 1.3282, today's low, and resistance at 1.3486, Monday's high.

Earlier in the day, preliminary data showed that U.S. UoM consumer sentiment rose more-than-expected to a seasonally adjusted 67.7 last month from 64.1 in the preceding month.

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

IBM To Acquire DemandTec

Posted: 09 Dec 2011 08:50 AM PST

International Business Machines Corp. (NYSE:IBM) has agreed to acquire DemandTec Inc. (NASDAQ:DMAN), a cloud-based analytics solutions provider, for an estimated $440 million. This would be IBM's fourth acquisition in a span of 3 months. The proposed acquisition will enhance and strengthen IBM's Smarter Commerce initiatives. In an all cash transaction, IBM will be paying $13.20 per share for the acquisition.
DemandTec Inc., based in San Mateo, California, provides software that analyzes consumer … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Air Products Teams With Dow Corning

Posted: 09 Dec 2011 08:35 AM PST

Air Products & Chemicals Inc. (NYSE:APD) entered into an agreement with Dow Corning, a 50:50 joint venture between The Dow Chemical Co. (DOW) and Corning Inc., for the long-term supply of electronic-grade silane. Silane is a type of material used for manufacturing flat panel displays, semiconductors and photovoltaic cells.
As per the agreement, Air Products will have access to significant silane volume to meet the present and future needs of its global customers, as well as help in the future … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – GBP/USD Up Toward The End Of European Session

Posted: 09 Dec 2011 08:25 AM PST

Forexpros – The British Pound was higher against the U.S. Dollar on Friday after the release of U.S. data on Michigan Consumer Sentiment Index.

GBP/USD was trading at 1.5648, up 0.12% at time of writing.

The pair was likely to find support at 1.5561, Tuesday's low, and resistance at 1.5770, Thursday's high.

Earlier in the day, preliminary data showed that U.S. UoM consumer sentiment rose more-than-expected to a seasonally adjusted 67.7 last month from 64.1 in the preceding … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Equity Residential Forms JV With TOL

Posted: 09 Dec 2011 08:20 AM PST

Equity Residential (EQR) and luxury-home builder Toll Brothers Inc. (TOL) recently announced a joint venture (JV) to develop a 40-story tower in Manhattan's Park Avenue. The construction of the 400,000-square-foot building is expected to commence in the first half of 2012.
 Within the to-be-constructed tower, the top 18 floors, which consist of condominiums, will be owned by Toll Brothers while the bottom 22 floors, comprising retail and rental apartments, will be operated by Equity … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Dow Reclaims 12K On EU Accord

Posted: 09 Dec 2011 08:10 AM PST

12/09/11 The major US stock averages soared as European leaders agreed to fiscal ties and measures to stem the debt crisis. University of Michigan’s consumer sentiment topped … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Chart Of The Day: Gas Prices Falling, Merry Xmas

Posted: 09 Dec 2011 07:57 AM PST

At the national level, retail gas prices have fallen by 17% from the April high of about $4 per gallon to the current national average of about $3.28 (red line in chart above), according to price data from GasBuddy.com.  In Albuquerque, New Mexico, gas prices have fallen about 25% from the April peak and are currently the lowest in the country at $2.80 per gallon (blue line).   

It’s an early Christmas present for U.S. consumers, who save about $1.50 billion annually for ever … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Tight Range Trade For Euro On EU Summit Talks

Posted: 09 Dec 2011 02:15 AM PST

12/09/11 The euro continued to trade in a tight range this morning as the EU summit began its second day of … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

U.S. UoM Consumer Sentiment Rises More-than-expected

Posted: 09 Dec 2011 07:05 AM PST

Forexpros – U.S. UoM consumer sentiment rose more-than-expected last month, preliminary data showed on Friday.

In a report, the University of Michigan said that consumer sentiment rose to a seasonally adjusted 67.7, from 64.1 in the preceding month.

Analysts had expected UoM consumer sentiment to rise to 65.9 last … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Crude Falls Below $98

Posted: 09 Dec 2011 07:00 AM PST

12/09/11 Front month crude prices fell to trade below $98 a barrel this morning led by continued uncertainty surrounding the outcome of the EU summit and its effect on energy … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Steps To Tackle Debt Lifts Markets

Posted: 09 Dec 2011 01:15 AM PST

12/09/11 The global markets continued to focus on the EU summit as steps continue to be taken in order to tackle the debt … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards
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