The US Consumer Confidence Index fell for the third consecutive month, declining to 53.1 in September (from a revised reading of 54.5 in August). Currently, the index stands at almost 50% below the historic average of 94.8. This latest economic data signals that Americans remain deeply concerned about the worst job market in 26 years, [...]
BNP Paribas is leading the pack of European banks seeking to raise additional capital to repay government funds and free themselves of the harsh restrictions and costs of state aid. BNP Paribas is France’s biggest bank by market value, and it said yesterday that it plans to raise EUR 4.3B in a rights issue to [...]
IMF Lowers Forecast for Global Bank Losses Between 2007 and 2010 by 15% to USD 3.4T, But Foresees Additional USD 1.5T Writedowns by End of Next Year Belgian Pharmaceutical Group, UCB SA to Market as Much as EUR 500mm (USD 732mm) in Convertible Bonds to Refinance Debt Nike Inc Posts First Quarter Earnings of USD [...]
Federal Deposit Insurance Corp (FDIC) May Require US Banks to Prepay Premiums to Boost Depleting Deposit Insurance Fund China’s CNOOC Ltd in Talks to Acquire Large Stakes in Nigerian Oil Blocks for a Possible USD 30B Price Tag French Bank, BNP Paribas SA Plans to Raise EUR 4.3B in Rights Issue to Help Repay EUR [...]
Abbott Laboratories Announces USD 6.6B Acquisition of Solvay SA’s Prescription Drug Unit Kraft Foods Inc Set to Make Hostile Bid for Cadbury PLC, Valuing it at GBP 11B Xerox Corp to Buy Affiliated Computer Services, Inc in Cash-and-Stock Deal Worth USD 5.75B GlaxoSmithKline PLC Signs USD 1B Agreement with Brazil to Guarantee Sales of its [...]
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Tagged Abbott Laboratories, Affiliated Computer Services, Crucell NV, GlaxoSmithKline, GlaxoSmithKline Brazil, Johnson & Johnson, Johnson & Johnson Crucell NV, Kraft Foods, Kraft Foods Cadbury, Orange iPhone, Overnight Market News, Overnight Markets, Solvay SA Prescription, Xerox
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Yesterday, the homebuilder KB Home, reported a deeper-than-expected quarterly loss for its nine-month period through August 31, 2009. The company recorded a loss of US$66M (US$0.87 per share) versus a loss of US$144.7M (US$1.87 per share) a year ago. Analysts were expecting a loss of US$0.58 per share. As the U.S. housing market slumped during [...]
Despite shifting to a loss for its fiscal second quarter through August 29, 2009 (Q02 2009), The Finish Line Inc was one of the few gainers on the NASDAQ yesterday, soaring 12.15% as investors took to heart the company’s suggestion that “things will only get better from here.” Finish Line posted a loss per share [...]
Rite Aid Corp posted a narrower loss for its fiscal second quarter ended August 29, 2009 on lower overheads. Sales declined 2.7%, and the Company’s loss per share amounted to US$0.14 from US$0.27 a share year-over-year. Rite Aid Corp also lowered its forecast for the fiscal year to a loss of US$0.48 to US$0.74 a [...]
Despite posting a sharp decline in quarterly earnings, 3Com Corp beat average estimates and its forecast for a stronger second quarter sent its shares surging 5.86% yesterday. Excluding certain items, first quarter earnings for the network equipment maker were down 60% to US$0.08 per share. However, the performance exceeded analysts’ expectations by 74%. 3Com Corp [...]
El Salvador Reaches Deal With International Monetary Fund (IMF) to Receive USD 800mm in Stand By Agreement Maker of the Blackberry Phone, Research In Motion Ltd Posts Second Quarter Profits of USD 475.6mm or USD 0.83 per Share, Down From USD 495.5mm or USD 0.86 per Share a Year Ago Unilever Plc to Buy Sara [...]
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Tagged El Salvador, IMF, International Monetary Fund, Nomura Holdings, Overnight Market News, Overnight Markets, Research In Motion Profit, Sara Lee, Simmons Co, Simmons Co Bankruptcy, Unilever Plc, Unilever Sara Lee
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