DailyMarkets.com - JPMorgan Fined For Lehman Collapse
DailyMarkets.com - JPMorgan Fined For Lehman Collapse |
- JPMorgan Fined For Lehman Collapse
- STZ’s EPS Up, Posts Record FCF
- AEP Forms Transmission JV
- Hot Option Plays: Financials Holding Up
- More Jobs = No Easing?
- Shell Signs Subsea Deal
- Starwood Continues Brand Conversion
- Willis: Good Numbers…doesn’t Mean Good Tape On Monday”
- Rambus LED Solution For Fern Howard
- Kinder Morgan In CO2 Contracts
- SNY Expands Animal Health Business
- Liberty Interactive Neutral Again
- Yahoo To Cut 14% Of Its Workforce
- Yahoo To Cut 14% Workforce
- CarMax Beats By A Penny
- Priority Review For Zaltrap
- Parkers In HALs Program
- Oil Prices Rebound Above $102
- Reliance Steel Buys NSA
- Jobless Claims Stay Within Good Range
- EA To Release Amalur’s Second DLC
- Stock Market News Briefs: American International Group, DDi Corp., Hovnanian Enterprises Inc, WebMD Health Corp
- CUR: Q1 2012 Financial Results (revised)
- Kraft Foods En Route To Split
- UCB’s Neupro Reaches US
- CME Bags GreenX
- IBM Expands In Brazil
- ADP Buys SHPS Subsidiary
- ESRX Loss Continues To Hurt Walgreen
- Ruby Tuesday Beats By A Penny
- Harsco Wins Rail Grinder Contracts
- LIFE To Further Penetrate PGM Reach
- BP Extends Aker Contract
- US Stocks Turn Flat Ahead Of Holiday Weekend
- Jobless Claims Fall Close To A New Four-Year Low, ASA Staffing Index For Temporary Help Improves
- Philadelphia Fed Reports That State Economies Are Improving, With Future Gains Expected
- Euro Slides On Renewed Debt Concerns; EURCHF Tests 1.2000
- Euro Falls Again As Spanish Debt Lifts EU Health Concerns
- US Futures Lower On Euro Zone Worries; Jobless Claims In Focus
| JPMorgan Fined For Lehman Collapse Posted: 05 Apr 2012 11:40 AM PDT The ghost of the financial crisis, Lehman Brothers Inc., has yet again returned to haunt JPMorgan Chase & Co. (NYSE:JPM). JPMorgan has been penalized for over-extending credit to Lehman for almost two years (November 2006-September 2008). Consequently, JPMorgan will be paying a fine of $20 million to the U.S. Commodity Futures Trading Commission (CFTC).
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| STZ’s EPS Up, Posts Record FCF Posted: 05 Apr 2012 11:30 AM PDT Leading wine and spirits distributor Constellation Brands Inc. (NYSE:STZ) delivered an adjusted EPS of 69 cents per share in the fourth quarter of fiscal 2012, surpassing the Zacks Consensus Estimate of 38 cents and surged nearly two-folds from the prior-year earnings of 35 cents. The year-over-year increase in the bottom line was primarily driven by benefits from negative tax rates and improved margins.
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| Posted: 05 Apr 2012 11:20 AM PDT American Electric PowerCompany Inc. (NYSE:AEP) announced that it has formed a new joint venture (JV) with Great Plains Energy Incorporated (NYSE:GXP) in order to develop and invest in transmission projects. The majority of the new company Transource Energy LLC would be owned by American Electric Power (86.5% stake) while the rest (13.5% stake) would be owned by Great Plains Energy.
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| Hot Option Plays: Financials Holding Up Posted: 05 Apr 2012 11:18 AM PDT Cusick’s Corner 04-05-2012
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| Posted: 05 Apr 2012 11:18 AM PDT Thursday, April 5, 2012
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| Posted: 05 Apr 2012 11:05 AM PDT A/S Norske Shell – a subsidiary of Royal Dutch Shell plc (RDS.A) – signed a Letter of Intent for a contract, worth NOK 800-900 million, with Norway based subsea firm Ocean Installer.
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| Starwood Continues Brand Conversion Posted: 05 Apr 2012 10:55 AM PDT Starwood Hotels & Resorts Worldwide Inc. (NYSE:HOT) recently announced the brand conversion of a former 150-room Four Points by Sheraton property to Aloft Tucson University. The property will undergo a complete makeover before being unveiled as an Aloft in the first half of 2013. This marks Starwood's second conversion project followed by the switch of an existing Clarion property at San Francisco Airport to Aloft in September last year. Aloft San Francisco Airport is slated to open this … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards
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| Willis: Good Numbers…doesn’t Mean Good Tape On Monday” Posted: 05 Apr 2012 10:40 AM PDT 04/05/12 Sunrise Securities’ Ben Willis discusses the recent pullback in US equity markets, and talks about expectations for the March employment … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards
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| Rambus LED Solution For Fern Howard Posted: 05 Apr 2012 10:35 AM PDT Earlier this week, Rambus Inc. (NASDAQ:RMBS) signed a patent licensing agreement with Fern Howard for an undisclosed sum. Alton, Hampshire-based Fern Howard is a recognized producer of energy efficient lighting solutions.
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| Kinder Morgan In CO2 Contracts Posted: 05 Apr 2012 10:20 AM PDT Kinder Morgan Energy Partners, L.P. (NYSE:KMP) has signed five new contracts for the sale of CO2 in the first quarter of 2012. The total sales volume adds up to over 2 trillion cubic feet while the aggregate contract quantities are over 440 million cubic feet per day (MMcfd) at their peak.
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| SNY Expands Animal Health Business Posted: 05 Apr 2012 10:05 AM PDT French pharmaceutical company, Sanofi's (NYSE:SNY) Animal Health division, Merial, recently announced that it has acquired a privately-held Minnesota-based company, Newport Laboratories.
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| Liberty Interactive Neutral Again Posted: 05 Apr 2012 09:55 AM PDT We downgrade our recommendation on Liberty Interactive Inc. (NASDAQ:LINTA) to Neutral based on its current valuation, which soared nearly 53% last year and is currently trading at the high-end of its 52-week price range. The company reported robust financial results for the fourth quarter of 2011, easily beating the Zacks Consensus Estimates.
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| Yahoo To Cut 14% Of Its Workforce Posted: 05 Apr 2012 09:55 AM PDT Web pioneer Yahoo Inc. (NASDAQ:YHOO) plans to eliminate 14% of its workforce or about 2,000 jobs in order to reduce operational costs. This layoff is an attempt to optimize the cost structure, concentrate on the core businesses, and thereby improve the company's competitiveness.
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| Posted: 05 Apr 2012 09:55 AM PDT Web pioneer Yahoo Inc. (NASDAQ:YHOO) plans to eliminate 14% of its workforce or about 2,000 jobs in order to reduce operational costs. This layoff is an attempt to optimize the cost structure, concentrate on the core businesses, and thereby improve the company's competitiveness.
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| Posted: 05 Apr 2012 09:47 AM PDT CarMax Inc. (NYSE:KMX) posted a profit of $95.0 million or 41 cents per share in the fourth quarter of fiscal 2012 ended February 29, 2012, barely exceeding the Zacks Consensus Estimate by a penny. The profit increased 7% from $88.8 million or 39 cents per share in the prior-year quarter.
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| Posted: 05 Apr 2012 09:40 AM PDT Recently, Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN) and partner Sanofi (NYSE:SNY) announced that their oncology candidate Zaltrap (aflibercept) will be reviewed on a priority basis by the US Food and Drug Administration (FDA). A decision from the US regulatory body is expected in the third quarter of 2012 (target date: August 4, 2012).
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| Posted: 05 Apr 2012 09:21 AM PDT Parker Hannifin Corporation's (NYSE:PH) business segment, Parker Aerospace, has been chosen to be a part of Helicopter Autonomous Landing System (HALS) program of Sierra Nevada Corporation (SNC). Thermal management solutions from Parker Aerospace's thermal management systems (TMS) organization will help in the installation of HALS on UH-60 Black Hawk helicopters.
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| Posted: 05 Apr 2012 04:15 AM PDT 04/05/12 After two days of selling, front month crude prices rebounded Thursday on mixed economic … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards
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| Posted: 05 Apr 2012 09:07 AM PDT Reliance Steel & Aluminum Co. (NYSE:RS) announced that it has bought National Specialty Alloys, LLC ("NSA"). Based in Houston, Texas, NSA is a global specialty alloy processor and distributor of premium stainless steel and nickel alloy bars and shapes. The terms of the transaction were undisclosed.
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| Jobless Claims Stay Within Good Range Posted: 05 Apr 2012 09:01 AM PDT This morning, weekly Initial Jobless Claims numbers were released, and continue to point toward a U.S. economy which is solidifying on the labor market front. New jobless claims reached 357K, down 6000 from the previous month, which has been revised to 359K. The 4-week moving average fell 4250 to 361,750. Clearly we’ve been in a favorable zone well below the 400K level for the longest period in 3+ years. But we’d spent so much time since the collapse in late 2008 above the 400K level that it … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards
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| EA To Release Amalur’s Second DLC Posted: 05 Apr 2012 09:01 AM PDT Video game giant Electronic Arts Inc. (EA) and developer 38 Studios is set to release their second downloadable content (DLC) for Kingdoms of Amalur: Reckoning on April 17, 2012. The DLC, titled Teeth of Naros, will take gamers to the floating city of Idylla, where they will encounter a mysterious race of devoted giants, Kollossae.
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| Posted: 05 Apr 2012 09:01 AM PDT Following media reports that American International Group, Inc. (NYSE:AIG) was considering an initial public offering of its airplane leasing unit, the company's shares gained 5.3% After Hovnanian Enterprises Inc (NYSE:HOV) announced it was selling 25 million shares, the company's shares plunged 8.5% Viasystems Group Inc. (VIAS) will be taking over DDI Corp. (NASDAQ:DDIC) for roughly $268 million WebMD Health Corp. … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards
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| CUR: Q1 2012 Financial Results (revised) Posted: 05 Apr 2012 09:01 AM PDT CUR: Q1 2012 Financial Results On March 30th DiagnoCure Inc. (T.CUR, CUR.TO) reported results for the fiscal first quarter ending January 31, 2012. Revenue of $556k was slightly ahead of our $381k estimate as a result of higher than modeled ($269k A vs. $60k E) payments from Signal Genetics related to the R&D services agreement. As a reminder, the mid-2011 transaction in which Signal acquired CUR’s clinical lab and exclusive rights to Previstage … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards
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| Posted: 05 Apr 2012 09:01 AM PDT Kraft Foods Inc.(NYSE:KFT) recently announced that it has filed a regulatory statement with the US Securities & Exchange Commission as part of the process to establish its North American grocery business as a new, stand-alone company. The company filed the initial Form 10 Registration Statement after the planned spin-off of the Global snacks business from the current consolidated entity.
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| Posted: 05 Apr 2012 09:01 AM PDT UCB (UCBJF) recently announced that the US Food and Drug Administration (FDA) has approved Neupro (rotigotine) to treat signs and symptoms of advanced stage idiopathic Parkinson's disease (PD) and moderate-to-severe primary restless legs syndrome (RLS).
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| Posted: 05 Apr 2012 09:01 AM PDT CME Group Inc. (NASDAQ:CME) recently announced the acquisition of US-based second-largest carbon exchange – GreenX Holdings LLC. This is a significant step toward achieving new scale in the energy market products. However, the terms and pricing of the deal remains undisclosed.
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| Posted: 05 Apr 2012 09:01 AM PDT Consistent with its expansion policy in the growth markets, tech giant International Business Machines Corp. (IBM) recently announced its entry into a strategic agreement with Brazil-based EBX Group. EBX Group headed by Brazilian billionaire Eika Batista comprises eleven companies with operations in diversified fields such as logistics, energy, marine, entertainment, mining, oil & gas and technology.
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| Posted: 05 Apr 2012 09:01 AM PDT Automatic Data Processing Inc. (ADP) recently announced that it has completed the acquisition of the human resource subsidiary of SHPS. However, the terms of the deal were not disclosed. The recent takeover marks ADP's third acquisition in the last four months of 2012.
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| ESRX Loss Continues To Hurt Walgreen Posted: 05 Apr 2012 09:01 AM PDT The termination of the Express Scripts (NASDAQ:ESRX) contract continues to hurt Walgreen (NYSE:WAG) sales which led to a frail start for Walgreen's third quarter 2012. For the month of March 2012, the company recorded a 4.3% dip in year-over-year sales to $6.02 billion. Although total front-end sales witnessed a modest increase of 2.5% with 1.2% rise in comparable store front-end sales, customer traffic in comparable stores fell 1.0%. Simultaneously the number of prescriptions filled by patients … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards
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| Posted: 05 Apr 2012 09:01 AM PDT Ruby Tuesday Inc.(NYSE:RT) reported adjusted earnings of 18 cents per share in third quarter 2012, beating the Zacks Consensus Estimate by a penny and also ahead of management's guided range of 12-16 cents per share. However, reported earnings compared unfavorably with the year-ago quarter earnings of 24 cents.
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| Harsco Wins Rail Grinder Contracts Posted: 05 Apr 2012 09:01 AM PDT On Tuesday, Harsco Corporation (NYSE:HSC) declared that it has won railway track maintenance equipment orders from South Korea, China and the UK. Valued at over $20 million, these orders are expected to be ready for delivery by the beginning of 2014.
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| LIFE To Further Penetrate PGM Reach Posted: 05 Apr 2012 09:01 AM PDT Next-generation sequencing is a much sought after area in the life science tools space. Life Technologies (LIFE) is, therefore, keen on enhancing adoption of this technology through development of applications for its Ion Personal Genome Machine ("PGM") in HLA (human leukocyte antigen) through key partnerships.
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| Posted: 05 Apr 2012 09:01 AM PDT U.K. oil giant BP Plc (NYSE:BP) has stretched a maintenance and modifications contract with Norwegian contractor, Aker Solutions, to 2014. The contract covers five Norwegian fields –– Ula, Valhall, Skarv, Hod and Tambar. Aker will derive value between $140 million and $210 million from the contract.
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| US Stocks Turn Flat Ahead Of Holiday Weekend Posted: 05 Apr 2012 08:20 AM PDT 04/05/12 The major equity averages started the session in negative territory but pared losses ahead of the long weekend. EU debt market concerns and better-than-expected US data were … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards
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| Jobless Claims Fall Close To A New Four-Year Low, ASA Staffing Index For Temporary Help Improves Posted: 05 Apr 2012 07:55 AM PDT Initial jobless claims (seasonally adjusted) fell to 357,000 for the week ending March 31, which was the lowest number since mid-April 2008, almost four years ago, according to today’s Labor Department report. The four-week moving average of weekly claims, which smooths out weekly volatility, fell to 361,750 – also falling to the lowest level since April 2008. The ongoing declines in jobless claims suggest that the labor market is gradually stabilizing and improving. If the … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards
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| Philadelphia Fed Reports That State Economies Are Improving, With Future Gains Expected Posted: 05 Apr 2012 07:38 AM PDT According to reports this week from the Philadelphia Federal Reserve: 1. Over the past three months through February, the coincident economic indexes increased in all 50 states (see top map above). The coincident indexes combine four state-level indicators to summarize current economic conditions in a single statistic: nonfarm payroll employment, average hours worked in manufacturing, the unemployment rate, and wage and salary disbursements deflated by the consumer price … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards
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| Euro Slides On Renewed Debt Concerns; EURCHF Tests 1.2000 Posted: 05 Apr 2012 07:31 AM PDT Fundamental Headlines
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| Euro Falls Again As Spanish Debt Lifts EU Health Concerns Posted: 05 Apr 2012 07:00 AM PDT 04/05/12 A lack of demand for Spanish debt at auction saw forex traders lose confidence in the euro Thursday … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards
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| US Futures Lower On Euro Zone Worries; Jobless Claims In Focus Posted: 05 Apr 2012 01:05 AM PDT 04/05/12 US stock futures pointed to a lower start for Wall Street amid renewed worries about Europe as bond yields continued to rise in … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards
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