(Bloomberg) -- France's four leading presidential candidates converged on the nation's south for their final rallies before Sunday's first-round voting, all appealing for a break with the status quo and a restoration of ``French values.''
``I've never seen such a feeling of exasperation'' among voters, Nicolas Sarkozy, the governing-party nominee and leader in opinion polls, said in the port city of Marseille last night. Segolene Royal, running second, appeared in Toulouse with Spanish Prime Minister Jose Luis Rodriguez Zapatero, a fellow Socialist. The top two finishers will meet in a May 6 runoff.
Read more at Bloomberg Exclusive News
Friday, April 20, 2007
Rival lenders line up as Boots bidders square off
(Reuters) - LONDON, April 20 - The buyout firms stalking UK pharmacy chain owner Alliance Boots are racing to line up about 8 billion pounds of financing to support their rival bids, but banks still have concerns about a large sterling buyout in the troubled retail sector.
Kohlberg Kravis Roberts & Co.'s [KKR.UL] 10.6 billion pound agreed bid is backed by billionaire Stefano Pessina, Boots' deputy chairman and biggest shareholder, and has support from eight banks for what would be Europe's largest leveraged buyout.
Read more at Reuters.com Mergers News
Kohlberg Kravis Roberts & Co.'s [KKR.UL] 10.6 billion pound agreed bid is backed by billionaire Stefano Pessina, Boots' deputy chairman and biggest shareholder, and has support from eight banks for what would be Europe's largest leveraged buyout.
Read more at Reuters.com Mergers News
Deerfield, Google, NVR, Saia, Superior Offshore: U.S. Equity Movers
(Bloomberg) -- The following is a list of companies whose shares are having unusual price changes in U.S. exchanges today. Stock symbols are in parentheses after company names. Share prices are as of 11:40 a.m. New York time.
Aeroflex Inc. (ARXX US) rose 93 cents, or 7 percent, to $14.21 and traded as high as $14.22. The maker of test gear for aerospace and defense said it had received an acquisition proposal from Veritas Capital that countered an offer from General Atlantic and Francisco Partners. The plan from Veritas would recapitalize the company and pay Aeroflex shareholders a cash dividend of $14 a share, Aeroflex said.
Read more at Bloomberg Stocks News
Aeroflex Inc. (ARXX US) rose 93 cents, or 7 percent, to $14.21 and traded as high as $14.22. The maker of test gear for aerospace and defense said it had received an acquisition proposal from Veritas Capital that countered an offer from General Atlantic and Francisco Partners. The plan from Veritas would recapitalize the company and pay Aeroflex shareholders a cash dividend of $14 a share, Aeroflex said.
Read more at Bloomberg Stocks News
UPDATE 1-Nelnet to pay $1 mln over student loan impropriety
(Reuters) - As the lending industry has come under scrutiny in recent months, Nebraska Attorney General Jon Bruning said on Friday Nelnet came to his office two months ago to disclose some impropoer behavior. Nelnet said it had paid $4,800 in a revenue sharing agreement with a school and paid for a plane ticket for an Albany admissions officer.
"As we looked at the scale of mistakes that have been made in the student lending industry, Nelnet was at the very bottom of the scale," Bruning said at a press conference in Washington on Friday. "Nelnet self disclosed, Nelnet has paid $1 million, which is meaningful, and Nelnet really didn't make any mistakes that rise to the level of some of these other companies."
Read more at Reuters.com Government Filings News
"As we looked at the scale of mistakes that have been made in the student lending industry, Nelnet was at the very bottom of the scale," Bruning said at a press conference in Washington on Friday. "Nelnet self disclosed, Nelnet has paid $1 million, which is meaningful, and Nelnet really didn't make any mistakes that rise to the level of some of these other companies."
Read more at Reuters.com Government Filings News
UPDATE 1-Google shares climb as results top expectations
(Reuters) - The company said on Thursday that its profits exceeded forecasts as market share gains and a lower tax rate boosted the bottom line.
Google shares jumped $16.34 to $487.99 in heavy morning Nasdaq trade after several leading investment firms raised their forecasts.
Read more at Reuters.com Market News
Google shares jumped $16.34 to $487.99 in heavy morning Nasdaq trade after several leading investment firms raised their forecasts.
Read more at Reuters.com Market News
Canada Dollar Reaches Five-Month High on Rising Retail Sales, Commodities
(Bloomberg) -- Canada's dollar rose to a five- month high after a report showed retail sales in February unexpectedly advanced.
The currency was headed for a fifth straight week of gains, its longest rally since mid-2004, as a strengthening economy and higher commodity prices attracted investors. The Bank of Canada meets April 24 to decide on its benchmark interest rate, at 4.25 percent since May 24.
Read more at Bloomberg Currencies News
The currency was headed for a fifth straight week of gains, its longest rally since mid-2004, as a strengthening economy and higher commodity prices attracted investors. The Bank of Canada meets April 24 to decide on its benchmark interest rate, at 4.25 percent since May 24.
Read more at Bloomberg Currencies News
UPDATE 1-Nationwide to reopen 500 Katrina cases
(Reuters) - The move to reevaluate the so-called "slab cases" should result in more payments for wind-related damage on a significant number of claims along the Gulf Coast of Mississippi, the Mississippi Insurance Commissioner's office said.
"This voluntary offer is an attempt to resolve some of the most difficult-to-adjust claims by proposing a reasonable payment to impacted policyholders rather than investing time and money on less effective options," said Nationwide spokesman Joe Case.
Read more at Reuters.com Bonds News
"This voluntary offer is an attempt to resolve some of the most difficult-to-adjust claims by proposing a reasonable payment to impacted policyholders rather than investing time and money on less effective options," said Nationwide spokesman Joe Case.
Read more at Reuters.com Bonds News
TNT shareholders vote down anti-takeover measure
(Reuters) - The Stichting Bescherming TNT , however, will still be able to initiate such a share issue on its part as it retains a call option, supervisory board chairman Jan Hommen said.
Read more at Reuters.com Mergers News
Read more at Reuters.com Mergers News
Google shares climb after results top expectations
(Reuters) - Merrill raised its target to $590 from $560, while Banc of America raised its price target to $620 from $601, and Lehman raised its target to $610 from $560.
Google shares jumped $17.77 to $489.42 in heavy morning Nasdaq trade.
Read more at Reuters.com Hot Stocks News
Google shares jumped $17.77 to $489.42 in heavy morning Nasdaq trade.
Read more at Reuters.com Hot Stocks News
U.S. Treasuries Decline a Second Day as Dow Jones Reaches Another Record
(Bloomberg) -- Treasuries declined for a second day after U.S. stocks rose, pushing the Dow Jones Industrial Average to a third straight record.
The yield on the benchmark 10-year note, which moves inversely to the price, increased 2 basis points, or 0.02 percentage point, to 4.68 percent as of 10:39 a.m. in New York, according to bond broker Cantor Fitzgerald LP. The price of the 4 5/8 percent security due in February 2017 fell 1/8, or $1.25 per $1,000 face amount, to 99 17/32.
Read more at Bloomberg Bonds News
The yield on the benchmark 10-year note, which moves inversely to the price, increased 2 basis points, or 0.02 percentage point, to 4.68 percent as of 10:39 a.m. in New York, according to bond broker Cantor Fitzgerald LP. The price of the 4 5/8 percent security due in February 2017 fell 1/8, or $1.25 per $1,000 face amount, to 99 17/32.
Read more at Bloomberg Bonds News
Aeroflex, Johnson Controls, McDonald's, Marriott: U.S. Equity Movers
(Bloomberg) -- The following is a list of companies whose shares are having unusual price changes in U.S. exchanges today. Stock symbols are in parentheses after company names. Share prices are as of 9:30 a.m. New York time.
Aeroflex Inc. (ARXX US) rose 77 cents, or 5.8 percent, to $14.05 and traded as high as $14.07. The maker of test gear for aerospace and defense said it had received an acquisition proposal from Veritas Capital that countered an offer from General Atlantic and Francisco Partners. The plan from Veritas would recapitalize the company and pay Aeroflex shareholders a cash dividend of $14 a share, Aeroflex said.
Read more at Bloomberg Stocks News
Aeroflex Inc. (ARXX US) rose 77 cents, or 5.8 percent, to $14.05 and traded as high as $14.07. The maker of test gear for aerospace and defense said it had received an acquisition proposal from Veritas Capital that countered an offer from General Atlantic and Francisco Partners. The plan from Veritas would recapitalize the company and pay Aeroflex shareholders a cash dividend of $14 a share, Aeroflex said.
Read more at Bloomberg Stocks News
UPDATE 1-Foot Locker offers to buy rival for $1.2 bln
(Reuters) - Genesco sells its gear through a number of retail brands including Lids, Journeys, Journeys Kidz, Shi by Journeys, Johnston & Murphy, Underground Station and Hatworld. Its shares shot up nearly 13 percent on the news and Foot Locker shares also rose.
Foot Locker made the takeover proposal to Nashville-based Genesco on April 4, offering a 26-percent premium to its average share price during the one year period preceding the proposal date.
Read more at Reuters.com Bonds News
Foot Locker made the takeover proposal to Nashville-based Genesco on April 4, offering a 26-percent premium to its average share price during the one year period preceding the proposal date.
Read more at Reuters.com Bonds News
Ex-Qwest Chief Nacchio's Conviction Turned on Investor Call, Juror Says
(Bloomberg) -- Federal jurors convicted Joseph Nacchio, former chief executive of Qwest Communications International Ltd., of insider trading after concluding he misled investors in an April 2001 conference call.
A jury in Denver yesterday found Nacchio guilty of 19 counts of insider trading for selling $52 million in Qwest shares from April 26 to May 29, 2001, based on private warnings that the company would miss revenue targets. He was found not guilty on 23 counts related to earlier trades totaling $49 million.
Read more at Bloomberg Exclusive News
A jury in Denver yesterday found Nacchio guilty of 19 counts of insider trading for selling $52 million in Qwest shares from April 26 to May 29, 2001, based on private warnings that the company would miss revenue targets. He was found not guilty on 23 counts related to earlier trades totaling $49 million.
Read more at Bloomberg Exclusive News
MGM Mirage buys Las Vegas land for $575 million
(Reuters) - The company said it purchased a 26-acre parcel at the southwest corner of Las Vegas Boulevard North and Sahara Avenue from Gordon Gaming Corp. for $444 million.
It also agreed to buy several parcels totaling eight acres from Concord Wilshire Acquisitions for $131 million.
Read more at Reuters.com Mergers News
It also agreed to buy several parcels totaling eight acres from Concord Wilshire Acquisitions for $131 million.
Read more at Reuters.com Mergers News
Tiger Brands says to divest healthcare, shares jump
(Reuters) - South Africa's food and pharmaceuticals group Tiger Brands said on Friday it would divest its drug and hospital interests, sending its shares surging.
Tiger Brands, South Africa's biggest consumer-branded products group, said in a statement it had appointed investment bank UBS South Africa to evaluate options, including a potential sale or unbundling and separate listing of the interests.
Read more at Reuters Africa
Tiger Brands, South Africa's biggest consumer-branded products group, said in a statement it had appointed investment bank UBS South Africa to evaluate options, including a potential sale or unbundling and separate listing of the interests.
Read more at Reuters Africa
Orlen Says First Quarter Gasoline Sales Rise on Low-Cost Polish Stations
(Bloomberg) -- PKN Orlen SA, Poland's largest oil refiner, said it increased gasoline sales to motorists in the first quarter after expanding its Bliska network of low-cost filling stations.
``In comparison to the first quarter of last year, the volume of fuel sold rose,'' Deputy Chief Executive Officer Wojciech Heydel said on the sidelines of a retail gala in Warsaw yesterday. ``We grew faster than the market, as we opened new Bliska stations. The Verva fuel sells very well.''
Read more at Bloomberg Energy News
``In comparison to the first quarter of last year, the volume of fuel sold rose,'' Deputy Chief Executive Officer Wojciech Heydel said on the sidelines of a retail gala in Warsaw yesterday. ``We grew faster than the market, as we opened new Bliska stations. The Verva fuel sells very well.''
Read more at Bloomberg Energy News
MGM Mirage ups size, cost of CityCenter project
(Reuters) - However, MGM Mirage raised its estimate of gross proceeds from the sale of residential units to $2.7 billion from $2.5 billion, making the estimated net cost of the CityCenter development $4.7 billion against the previous estimate of $4.3 billion.
Read more at Reuters.com Bonds News
Read more at Reuters.com Bonds News
Canada Dollar Rises on Retail Sales, Commodities, Heads for Weekly Gain
(Bloomberg) -- Canada's dollar rose to near its five-month high after a report showed retail sales in February unexpectedly advanced.
The currency was headed for a fifth straight week of gains, its longest rally since mid-2004, as a strengthening economy and higher commodity prices also attracted investors. The Bank of Canada meets April 24 to decide on its benchmark interest rate, at 4.25 percent since May 24.
Read more at Bloomberg Currencies News
The currency was headed for a fifth straight week of gains, its longest rally since mid-2004, as a strengthening economy and higher commodity prices also attracted investors. The Bank of Canada meets April 24 to decide on its benchmark interest rate, at 4.25 percent since May 24.
Read more at Bloomberg Currencies News
U.S. Stock-Index Futures Rise; Caterpillar, Google, American Express Climb
(Bloomberg) -- U.S. stock-index futures rose after Caterpillar Inc., Google Inc. and American Express Co. reported earnings that beat analysts' estimates.
Caterpillar surged after per-share profit at the biggest earthmoving equipment maker unexpectedly gained. Google, owner of the most-used Internet search engine, said net income jumped 69 percent as the company extended its lead in online advertising. American Express, the fourth-biggest U.S. credit-card issuer, posted a record profit as customers increased spending.
Read more at Bloomberg Stocks News
Caterpillar surged after per-share profit at the biggest earthmoving equipment maker unexpectedly gained. Google, owner of the most-used Internet search engine, said net income jumped 69 percent as the company extended its lead in online advertising. American Express, the fourth-biggest U.S. credit-card issuer, posted a record profit as customers increased spending.
Read more at Bloomberg Stocks News
Deerfield Triarc to acquire its investment manager
(Reuters) - The deal is expected to immediately add to earnings, Deerfield Triarc said.
Read more at Reuters.com Mergers News
Read more at Reuters.com Mergers News
Caterpillar, Pozen, Robert Half, SAP, SiRF Technology: U.S. Equity Preview
(Bloomberg) -- The following is a list of companies whose shares may have unusual price changes in U.S. exchanges today. This preview includes news that broke after exchanges closed yesterday. Stock symbols are in parentheses after company names. Share prices are as of 8:10 a.m. New York time.
Advanced Micro Devices Inc. (AMD US) rose 37 cents, or 2.6 percent, to $14.65 in trading before the open of U.S. exchanges. There is speculation the second-largest maker of personal- computer processors may receive an investment from a private equity company.
Read more at Bloomberg Stocks News
Advanced Micro Devices Inc. (AMD US) rose 37 cents, or 2.6 percent, to $14.65 in trading before the open of U.S. exchanges. There is speculation the second-largest maker of personal- computer processors may receive an investment from a private equity company.
Read more at Bloomberg Stocks News
Alliance Boots bid battle poses credit headaches
(Reuters) - Take the case of British pharmacy chain Alliance Boots , which is the subject of a bidding war that will be Europe's biggest ever LBO if completed.
The credit derivatives market initially took fright at the approach by Kohlberg Kravis Roberts and Alliance Boots deputy chairman Stefano Pessina, pushing the cost of insuring the company's debt against default up from the low 30s basis points to a range of 150-190 basis points.
Read more at Reuters.com Mergers News
The credit derivatives market initially took fright at the approach by Kohlberg Kravis Roberts and Alliance Boots deputy chairman Stefano Pessina, pushing the cost of insuring the company's debt against default up from the low 30s basis points to a range of 150-190 basis points.
Read more at Reuters.com Mergers News
Xerox quarterly profit higher, beats forecast
(Reuters) - Excluding costs related to restructuring, profit was 26 cents a share, 5 cents better than analysts' average forecast as compiled by Reuters Estimates.
Revenue rose 4 percent to $3.84 billion, fueled by strength in "post-sale" and financing revenue, which represent more than 70 percent of total sales. Analysts were expecting revenue of $3.81 billion.
Read more at Reuters.com Business News
Revenue rose 4 percent to $3.84 billion, fueled by strength in "post-sale" and financing revenue, which represent more than 70 percent of total sales. Analysts were expecting revenue of $3.81 billion.
Read more at Reuters.com Business News
Puerto Rico Sells Libor Bonds in Week's Biggest Muni Sale, Luring Buyers
(Bloomberg) -- Puerto Rico's commonwealth-owned electric utility sold the largest of almost $9 billion of debt offerings in the U.S. municipal market as new bond issues more than doubled from last week.
The San Juan-based Electric Power Authority borrowed $1.9 billion and got three times as many orders as bonds available, according to the Government Development Bank, Puerto Rico's financial adviser. That demand allowed underwriters led by JPMorgan Chase & Co. to raise prices on the bonds and trim yields by as much as 4 basis points, or 0.04 percentage point.
Read more at Bloomberg Bonds News
The San Juan-based Electric Power Authority borrowed $1.9 billion and got three times as many orders as bonds available, according to the Government Development Bank, Puerto Rico's financial adviser. That demand allowed underwriters led by JPMorgan Chase & Co. to raise prices on the bonds and trim yields by as much as 4 basis points, or 0.04 percentage point.
Read more at Bloomberg Bonds News
US STOCKS-Futures point to higher open on profits
(Reuters) - Google, the Web search company, reported a rise in quarterly net profit after the bell on Thursday, easily beating expectations and sending its shares up 2.6 percent in Europe. For more see [ID:nN19299226].
Schlumberger's stock rose 1.84 percent in Europe after earnings beat analysts' estimates. [ID:nWNAS7010].
Read more at Reuters.com Bonds News
Schlumberger's stock rose 1.84 percent in Europe after earnings beat analysts' estimates. [ID:nWNAS7010].
Read more at Reuters.com Bonds News
Futures point to higher open on profits
(Reuters) - Google, the Web search company, reported a rise in quarterly net profit after the bell on Thursday, easily beating expectations and sending its shares up 2.6 percent in Europe.
Schlumberger's stock rose 1.84 percent in Europe after earnings beat analysts' estimates.
Read more at Reuters.com Business News
Schlumberger's stock rose 1.84 percent in Europe after earnings beat analysts' estimates.
Read more at Reuters.com Business News
Pound May Extend Gain After Reaching 26-Year High, Currency Options Show
(Bloomberg) -- The British pound's rally to the highest in 26 years may continue as options traders and money managers grow more bullish about the currency.
Options prices show traders are paying more for the right to buy pounds than to sell and the difference widened this week to the largest since Jan. 5. The premium on one-month pound calls over puts rose to 0.27 percent today from -0.2 on March 15. A positive number for the so-called risk-reversal rate indicates more demand for the right to buy the currency.
Read more at Bloomberg Currencies News
Options prices show traders are paying more for the right to buy pounds than to sell and the difference widened this week to the largest since Jan. 5. The premium on one-month pound calls over puts rose to 0.27 percent today from -0.2 on March 15. A positive number for the so-called risk-reversal rate indicates more demand for the right to buy the currency.
Read more at Bloomberg Currencies News
GM says Delphi bankruptcy deal still possible
(Reuters) - "I don't think it necessarily complicates things. I think there's still ample solutions," Wagoner said at a briefing in China ahead of the April 22-28 Shanghai Auto Show.
"I don't think that given the state of availability of private capital in the U.S. today that getting other investors interested is per se a problem. But it is going to be up to the Delphi board to decide how they want to handle that."
Read more at Reuters.com Bonds News
"I don't think that given the state of availability of private capital in the U.S. today that getting other investors interested is per se a problem. But it is going to be up to the Delphi board to decide how they want to handle that."
Read more at Reuters.com Bonds News
S.Africa 3-month T-bill rate up at 8.29 pct
(Reuters) - The average discount rate for South African three-month Treasury Bills crept up to 8.29 percent at Friday's auction from 8.28 percent last week, the Reserve Bank said.
The average yield was at 8.46 percent from 8.45 percent previously. Applications for the 2.3 billion rand of bills on offer totalled 5.223 billion rand.
Read more at Reuters Africa
The average yield was at 8.46 percent from 8.45 percent previously. Applications for the 2.3 billion rand of bills on offer totalled 5.223 billion rand.
Read more at Reuters Africa
Delphi bankruptcy deal still possible - GM
(Reuters) - "I don't think it necessarily complicates things. I think there's still ample solutions," Wagoner said at a briefing in China ahead of the April 22-28 Shanghai Auto Show.
"I don't think that given the state of availability of private capital in the U.S. today that getting other investors interested is per se a problem. But it is going to be up to the Delphi board to decide how they want to handle that."
Read more at Reuters.com Bonds News
"I don't think that given the state of availability of private capital in the U.S. today that getting other investors interested is per se a problem. But it is going to be up to the Delphi board to decide how they want to handle that."
Read more at Reuters.com Bonds News
U.K. Pound Advances on Week, Rallying to the Highest Since Thatcher Ruled
(Bloomberg) -- The pound pushed through the $2 mark this week to reach its highest since June 1981 when Margaret Thatcher was British prime minister.
The U.K. currency soared after a report showed inflation accelerated at its fastest pace in a decade, fueling speculation the Bank of England will lift interest rates two more times this year. The last time the pound reached $2 was in September 1992 when George Soros and other speculators forced it out of the European system of linked exchanged rates.
Read more at Bloomberg Currencies News
The U.K. currency soared after a report showed inflation accelerated at its fastest pace in a decade, fueling speculation the Bank of England will lift interest rates two more times this year. The last time the pound reached $2 was in September 1992 when George Soros and other speculators forced it out of the European system of linked exchanged rates.
Read more at Bloomberg Currencies News
JPMorgan
(Reuters) - The structured 280 mln euro bond was issued on Feb.22, 2007 and has dominated media headlines for weeks. Greece's commitee against money laundering is currently investigating whether a state pension fund was overcharged for the bond and expects to conclude the probe by May.
Read more at Reuters.com Bonds News
Read more at Reuters.com Bonds News
China's Stocks Rebound, Supported by Earnings: World's Biggest Mover
(Bloomberg) -- China's stocks rose, posting the biggest gains among markets included in global benchmarks. Shares rebounded from the biggest slide in seven weeks, supported by corporate earnings, as some investors judged yesterday's slump excessive.
The benchmark CSI 300 Index, which tracks yuan-denominated A shares listed on China's two exchanges, climbed 138.98, or 4.4 percent, to 3289.28 at the close, the biggest one-day gain since Jan. 15. It tumbled 4.7 percent yesterday on concern rapid growth will prompt the government to raise interest rates.
Read more at Bloomberg Stocks News
The benchmark CSI 300 Index, which tracks yuan-denominated A shares listed on China's two exchanges, climbed 138.98, or 4.4 percent, to 3289.28 at the close, the biggest one-day gain since Jan. 15. It tumbled 4.7 percent yesterday on concern rapid growth will prompt the government to raise interest rates.
Read more at Bloomberg Stocks News
Cocoa Mid-Crop in Ivory Coast May Drop 30 Percent on Unfavorable Weather
(Bloomberg) -- Ivory Coast, the world's biggest cocoa grower, expects production from its second harvest of the season to drop as much as 30 percent because of drier-than- normal weather, a government official said.
The so-called mid-crop, gathered from April to September, may yield between 280,000 and 300,000 metric tons, down from 400,000 metric tons last year, according to an official at the state-run Bourse du Cacao et Café in Abidjan. The official asked not to be identified because he isn't authorized to speak to reporters.
Read more at Bloomberg Commodities News
The so-called mid-crop, gathered from April to September, may yield between 280,000 and 300,000 metric tons, down from 400,000 metric tons last year, according to an official at the state-run Bourse du Cacao et Café in Abidjan. The official asked not to be identified because he isn't authorized to speak to reporters.
Read more at Bloomberg Commodities News
Micex Stock Market in Moscow Halts Trading After Second Glitch in Two Days
(Bloomberg) -- Trading on the Micex Stock Exchange, Russia's biggest, stopped today after a power outage shut down its computer systems, the second glitch in two days.
Trading stopped at about 10:33 a.m., three minutes after the market opened, Micex spokesman Vadim Egorov said.
Read more at Bloomberg Emerging Markets News
Trading stopped at about 10:33 a.m., three minutes after the market opened, Micex spokesman Vadim Egorov said.
Read more at Bloomberg Emerging Markets News
Sony Ericsson Q1 earnings below forecast
(Reuters) - STOCKHOLM, April 20 - Sony Ericsson, world number four mobile phone maker, posted first-quarter pretax earnings below market expectations on Friday and said it had captured market share by selling more lower-priced phones.
The sales of such phones, which mark an expansion away from its previous concentration on the high end of the market, took its average selling price down, although the group said it had maintained profitability via cost controls.
Read more at Reuters.com Market News
The sales of such phones, which mark an expansion away from its previous concentration on the high end of the market, took its average selling price down, although the group said it had maintained profitability via cost controls.
Read more at Reuters.com Market News
Asian Stocks Rebound as Concern of Global Rout Eases; BHP, Toyota Rise
(Bloomberg) -- Asian shares rose after a record close on the Dow Jones Industrial Average eased concern a slump in China yesterday would precipitate a global sell-off.
China Mobile Ltd. and BHP Billiton Ltd., whose Chinese sales account for almost 20 percent of revenue, led today's advance.
Read more at Bloomberg Stocks News
China Mobile Ltd. and BHP Billiton Ltd., whose Chinese sales account for almost 20 percent of revenue, led today's advance.
Read more at Bloomberg Stocks News
AMD, Armor, Energy Conversion, Google, RightNow, SiRF: U.S. Equity Preview
(Bloomberg) -- The following is a list of companies whose shares may have unusual price changes in U.S. exchanges today. This preview includes news that broke after exchanges closed yesterday. Stock symbols are in parentheses after company names.
Advanced Micro Devices Inc. (AMD US) gained 22 cents, or 1.5 percent, to $14.50 in trading yesterday after the official close of U.S. markets. There is speculation the second-largest maker of personal-computer processors may receive an investment from a private equity company.
Read more at Bloomberg Stocks News
Advanced Micro Devices Inc. (AMD US) gained 22 cents, or 1.5 percent, to $14.50 in trading yesterday after the official close of U.S. markets. There is speculation the second-largest maker of personal-computer processors may receive an investment from a private equity company.
Read more at Bloomberg Stocks News
PRESS DIGEST - Wall Street Journal - April 20
(Reuters) - * Google Inc.'s profit surged 69 percent, largely because of higher advertising revenue from Web-search activity. Revenue rose 63 percent, although the rate of growth continued to slow.
* Research in Motion Ltd. began explaining the cause of its massive BlackBerry outage, but the company's initial silence angered some customers and fueled speculation about what was behind the failure.
Read more at Reuters.com Bonds News
* Research in Motion Ltd. began explaining the cause of its massive BlackBerry outage, but the company's initial silence angered some customers and fueled speculation about what was behind the failure.
Read more at Reuters.com Bonds News
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