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Overnight Market News – April 19, 2012

19-Apr-12
  • The European Union approves Johnson & Johnson’s (JNJ) USD 21.3B acquisition of Swiss orthopedics maker Synthes after JNJ assured regulators that the industry would remain competitive
  • Human Genome Sciences Inc throws out an unsolicited offer worth approximately USD 2.6B from long-time partner GlaxoSmithKline Plc, saying that the cash bid did not reflect the value inherent in the Company
  • Cisco Systems, Inc announces that it has funded an advanced networking startup, called Insieme, with USD 100mm, with the right to eventually purchase the Company for up to an additional USD 750mm
  • Nokia Oyj reports a Q01 2012 Operating Loss of EUR 1.34B (USD 1.8B) on EUR 1.1B in one-time charges and a 29% decline in Sales to EUR 7.35B
  • Natural Gas slumps to ten-year low of USD 1.94 per British thermal units as consumption tapers off due to the end of the winter heating season
  • Crude Oil Rises USD 0.20 to USD 102.87 per Barrel
  • Ethanol Stands at USD 2.12 per Gallon
  • Natural Gas Stands at USD 1.95 per British Thermal Unit (Btu)
  • Silver Falls USD 0.01 to USD 31.47 per Troy Ounce
  • Gold Rises USD 2.40 to USD 1,641.20 per Troy Ounce
  • Dow Jones Industrial Average Falls 82.79 Points (-0.63%) to 13,032.75
  • London FTSE Index Rises 37.05 Points (0.64%) to 5,782.34
  • Japan Nikkei Index Falls 78.88 Points (-0.82%) to 9,588.38
  • Hong Kong Hang Seng Index Rises 214.28 Points (1.03%) to 20,995.00
  • Brazil Bovespa Index Rises 311.61 Points (0.50%) to 63,010.50
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Judge Refuses To Toss Sandusky’s Child Sex-Abuse Charges

12-Apr-12

Judge John Cleland refused to throw out child sex-abuse charges against former Penn State University assistant football coach Jerry Sandusky in court earlier today. Judge Cleland ruled on a catch-all pretrial defense motion that also sought to have some of the evidence against Sandusky suppressed, compel additional disclosure of prosecution materials, and win the court’s permission to introduce an alibi defense.

The judge will however allow Sandusky’s defense lawyers to ask again to have the case dismissed after more evidence is turned over by prosecutors. The 68 year old Sandusky is charged with more than 50 criminal counts that allege he sexually abused 10 boys over a 15 year period, both on the Penn State campus itself and elsewhere. He has denied the allegations.

Jerry Sandusky’s trial is scheduled to begin on June 5, 2012.

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Overnight Market News – March 22, 2012

22-Mar-12
  • FedEx Corp posts fiscal third quarter earnings excluding items of USD 1.55 up from USD 0.81 a year ago and exceeding analysts’ expectations of USD 1.35 as revenue climbed
  • McDonald’s Corp’s Chief Executive Officer Jim Skinner to retire after almost eight years at the helm of the world’s biggest restaurant chain; and will be succeeded by the Company’s Chief Operating Officer
  • China’s Purchasing Managers Index (PMI) declines to a four-month low of 48.1 in March from February’s 49.6, adding fuel to calls for Premier Wen Jiabao to add measures to sustain growth
  • US automaker, General Motors Co announces plans to extend its Australian presence by at least 10 years in return for a AUD 275m (USD 288mm) government assistance package
  • French handbag maker, Hermes International SCA, to pay a bonus dividend after reporting record 2011 Operating Profit of EUR 885.2mm, a 33% increase from 2010
  • Euro-Area manufacturing and services composite index declines to 48.7 in March from 49.3 a month earlier, another indication that the region’s economy is slipping into recession
  • Crude Oil Falls USD 1.09 to USD 106.18 per Barrel
  • Ethanol Stands at USD 2.29 per Gallon
  • Natural Gas Stands at USD 2.36 per British Thermal Unit (Btu)
  • Silver Falls USD 0.42 to USD 31.78 per Troy Ounce
  • Gold Falls USD 12.70 to USD 1,637.30 per Troy Ounce
  • Dow Jones Industrial Average Falls 45.57 Points (-0.35%) to 13,124.62
  • London FTSE Index Falls 51.44 Points (-0.87%) to 5,840.51
  • Japan Nikkei Index Rises 40.59 Points (0.40%) to 10,127.08
  • Hong Kong Hang Seng Index Rises 44.93 Points (0.22%) to 20,901.56
  • Brazil Bovespa Index Falls 435.52 Points (-0.65%) to 66,860.00
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Overnight Market News – March 20, 2012

20-Mar-12
  • Apple Inc will be offering a quarterly dividend of USD 2.65 per share, starting in its fiscal fourth quarter as well as a three-year USD 10B share buyback programme commencing September 30, 2012; making use of its USD 98B cash hoard
  • Amazon.com Inc to acquire Kiva Systems Inc, a maker of robots that move items around warehouses for USD 775mm, its largest acquisition since Zappos.com in 2009
  • Wendy’s Co edges out Burger King Holdings Inc in 2011 sales, making it the second-biggest US hamburger chain, behind McDonald’s Corp
  • Glencore International Plc, the largest publicly traded commodity supplier and two Canadian agricultural firms near deal to acquire Viterra Inc for a reported price of between CAD 16.00 and CAD 17.00 per share
  • Tiffany & Co forecasts a 10% increase in fiscal-year revenue with a profit of between USD 3.95 and USD 4.05 per share boosted by its expansion in Asia and the Americas
  • Crude Oil falls USD 0.56 to USD 107.53 per Barrel
  • Ethanol stands at USD 2.34 per Gallon
  • Natural Gas falls USD 0.01 to USD 2.35 per British Thermal Unit (Btu)
  • Silver stands at USD 32.93 per Troy Ounce
  • Gold falls USD 17.80 to USD 1,649.10 per Troy Ounce
  • Dow Jones Industrial Average rises 6.51 points (0.05%) to 13,239.13
  • London FTSE Index falls 62.79 points (-1.05%) to 5,898.32
  • Japan Nikkei Index rises 12.16 points (0.12%) to 10,141.99
  • Hong Kong Hang Seng Index falls 227.05 points (-1.08%) to 20,888.24
  • Brazil Bovespa Index rises 46.18 points (0.07%) to 67,730.31
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Overnight Market News – March 13, 2012

13-Mar-12
  • Italy’s one-year borrowing costs falls to 1.4% at a EUR 12B auction, the lowest yield since August 2010 increased liquidity provided by the European Central Bank
  • Germany’s investor confidence index rises more-than-estimated to 22.3 from 5.4 in February, surpassing forecasts of a 10 point gain and increasing for a fourth consecutive month
  • US’ Federal Open Market Committee (FOMC) will meet later today on interest rates and is not expected to initiate a third round of quantitative easing as jobs gains have been its best since 2006
  • Yahoo Inc files over ten patent lawsuits against Facebook Inc, including methods and systems for advertising on the world wide web
  • Bank of Japan maintains its key policy rate at a range of zero to 0.1% by a unanimous vote and keeps its monetary policy steady at a meeting held this morning
  • Crude Oil Rises USD 0.51 to USD 106.34 per Barrel
  • Ethanol Stands at USD 2.30 per Gallon
  • Natural Gas Rises USD 0.002 to USD 2.27 per British Thermal Unit (Btu)
  • Silver Rises USD 0.08 to USD 33.37 per Troy Ounce
  • Gold Falls USD 3.70 to USD 1,699.20 per Troy Ounce
  • Dow Jones Industrial Average Rises 37.69 Points (0.29%) to 12,959.70
  • London FTSE Index Rises 52.75 Points (0.90%) to 5,945.50
  • Japan Nikkei Index Rises 9.22 Points (0.09%) to 9,899.08
  • Hong Kong Hang Seng Index Rises 205.52 Points (0.97%) to 21,339.70
  • Brazil Bovespa Index Falls 319.20 Points (0.48%) to 66,348.80
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Overnight Market News – March 9, 2012

09-Mar-12
  • Greek deal nears completion as participation level rises over 95.7%, surpassing the Government’s target of between 75% and 90%. However, not all participation was voluntary as the Government received approval to activate collective action clauses which essentially forces involvement
  • According to prominent financial advisory firm Morgan Stanley, new Greek bond yields may reach 20% after its debt swap due to risks arising from implementing the biggest sovereign debt restructuring programme in history
  • The National Bureau of Statistics of China stated that inflation rose 3.2% in February which is below economists’ estimate for 3.4%. This is the lowest figure in 20 months and creates room for policy makers to stimulate economic growth
  • The New York State Department of Labor reported that approximately 31.2k jobs were added by New York employers in January, the most in 23 years
  • Crude Oil Rises USD 0.25 to USD 106.83 per Barrel
  • Ethanol Stands at USD 2.246 per Gallon
  • Natural Gas Rises USD 0.04 to USD 2.31 per British Thermal Unit (Btu)
  • Silver Rises USD 0.06 to USD 33.85 per Troy Ounce
  • Gold Rises USD 0.70 to USD 1,698.80 per Troy Ounce
  • Dow Jones Industrial Average Rises 70.61 Points (0.55%) to 12,907.94
  • London FTSE Index Rises 68.32 Points (1.18%) to 5,859.73
  • Japan Nikkei Index Rises 160.78 Points (0.64%) to 9,929.74
  • Hong Kong Hang Seng Index Rises 185.27 Points (0.86%) to 21,086.00
  • Brazil Bovespa Index Rises 891.63 Points (1.35%) to 66,908.39
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Overnight Market News – March 1, 2012

01-Mar-12
  • Greece’s parliament approves pension and health care reductions a day after sanctioning a EUR 3.2B (USD 4.3B) package of spending cuts, moving closer to a rescue package to prevent a financial collapse
  • US Federal Reserve Chairman Ben S. Bernanke indicates that another round of quantitative easing may not necessarily be in store given the current state of the economy
  • Euro unemployment reaches 10.7% in January, the highest level since the euro was established in 1999 on mass unemployment in Greece and Spain
  • China’s official Purchasing Managers’ Index (PMI) rises to 51.0 in February from 50.5 a month earlier, however serious headwinds persist which may result in further monetary easing
  • Crude Oil Rises USD 0.35 to USD 107.42 per Barrel
  • Ethanol Stands at USD 2.26 per Gallon
  • Natural Gas Falls USD 0.05 to USD 2.56 per British Thermal Unit (Btu)
  • Silver Rises USD 0.16 to USD 34.75 per Troy Ounce
  • Gold Rises USD 4.80 to USD 1,714.70 per Troy Ounce
  • Dow Jones Industrial Average Falls 53.05 Points (0.41%) to 12,952.07
  • London FTSE Index Rises 31.42 Points (0.54%) to 5,902.93
  • Japan Nikkei Index Falls 15.87 Points (-0.16%) to 9,707.37
  • Hong Kong Hang Seng Index Falls 292.12 Points (-1.35%) to 21,388.00
  • Brazil Bovespa Index Falls 147.06 Points (-0.22%) to 65,811.70
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Overnight Market News – February 23, 2012

23-Feb-12
  • Hewlett-Packard Co’s Q04 2011/2012 Net Income declines 44% to USD 1.47B on a 7.1% fall in Revenue to USD 30B as the Company grapples with weak PC and printer sales
  • Fitch Ratings slashes its rating for Greek sovereign debt to C from CCC, indicating that default is highly likely in the near term
  • German business confidence rises more than economists forecast to a seven-month high in February as progress in taming Europe’s debt crisis tempered the risk of a recession
  • Mazda Motor Corp plans to raise a record JPY 162.8B (USD 2B) selling as much as 1.22B new shares, which would increase its number of outstanding shares by almost 70%
  • Singapore Airlines Ltd, the world’s second-biggest carrier by market value, cuts its freighter capacity by 20% due to slumping demand and higher fuel prices
  • Refined-tin shipments from Indonesia, the world’s largest exporter, are anticipated to decline in the first quarter to the lowest level in two years as monsoon rains disrupt mining
  • Crude Oil Falls USD 0.07 to USD 106.21 per Barrel
  • Ethanol Stands at USD 2.20 per Gallon
  • Natural Gas Falls USD 0.03 to USD 2.68 per British Thermal Unit (Btu)
  • Silver Rises USD 0.30 to USD 34.63 per Troy Ounce
  • Gold Rises USD 7.20 to USD 1,778.50 per Troy Ounce
  • Dow Jones Industrial Average Falls 27.02 Points (0.21%) to 12,938.68
  • London FTSE Index Falls 5.98 Points (0.10%) to 5,922.53
  • Japan Nikkei Index Rises 41.57 Points (0.44%) to 9,595.57
  • Hong Kong Hang Seng Index Falls 168.29 Points (0.78%) to 21,380.90
  • Brazil Bovespa Index Falls 110.73 Points (0.17%) to 66,092.77
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Overnight Market News – February 16, 2012

16-Feb-12
  • UBS AG, Credit Suisse Group AG and Morgan Stanley’s credit ratings may be cut by up to three levels by Moody’s Investors Service as it reviews 17 financial Firms with global capital market operations
  • Nestle SA, the world’s biggest food Company, reports FY 2011 Sales growth of 7.5%, beating analysts’ estimates, and forecasts higher FY 2012 earnings as it introduces new products
  • Crude Oil Falls USD 0.50 to USD 101.30 per Barrel
  • Ethanol Stands at USD 2.2 per Gallon
  • Natural Gas Stands at USD 2.43 per British Thermal Unit (Btu)
  • Silver Stands at USD 33.39 per Troy Ounce
  • Gold Falls USD 8.560 to USD 1,717.70 per Troy Ounce
  • Dow Jones Industrial Average Falls 97.33 Points (0.76%) to 12,781.00
  • London FTSE Index Falls 35.89 Points (0.61%) to 5,856.27
  • The Japan Nikkei Index Falls 22.24 Points (0.24%) to 9,238.10
  • Hong Kong Hang Seng Index Falls 87.95 Points (0.41%) to 21,277.30
  • Brazil Bovespa Index Rises 329.96 Points (0.51%) to 65,368.50
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Overnight Market News – February 15, 2012

15-Feb-12
  • Yahoo! Inc is facing shareholder pressure to restructure a deal to sell its stake in Alibaba Group Holding Ltd (ALIBABZ) and the Company’s Japanese operations
  • Apple Inc’s Chief Executive Officer (CEO) Tim Cook reaffirms the Company’s commitment to safe labour saying it will press suppliers to conform to stringent standards
  • Zynga Inc reports a Q04 2011 Net Loss of USD 435mm compared to a USD 42mm Net Income a year earlier due to Initial Public Offering related stock costs
  • Qantas Airways Ltd’s stock prices fall as CEO Alan Joyce told Australian Lawmakers that the airline must “adapt or die”
  • European and Asian stocks and commodities rise after China pledges to invest in Europe’s bailout funds
  • Crude Oil Rises USD 0.80 to USD 101.54 per Barrel
  • Ethanol Stands at USD 2.21 per Gallon
  • Natural Gas Rises USD 0.03 to USD 2.56 per British Thermal Unit (Btu)
  • Silver Rises USD 0.36 to USD 33.69 per Troy Ounce
  • Gold Rises USD 9.60 to USD 1,725.50 per Troy Ounce
  • Dow Jones Industrial Average Rises 4.24 Points (0.03%) to 12,878.30
  • London FTSE Index Falls 5.83 Points (0.1%) to 5,899.87
  • Japan Nikkei Index Rises 208.27 Points (2.3%) to 9,260.34
  • Hong Kong Hang Seng Index Rises 447.40 Points (2.14%) to 21,365.20
  • Brazil Bovespa Index Falls 653.00 Points (0.99%) to 65,038.50
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