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Overnight Market News – March 8, 2010

admin — Mon, 08 Mar 2010 11:23:55 +0000

Royal Dutch Shell PLC and PetroChina Co Offer USD 3B to Acquire Australia’s Arrow Energy Ltd
American International Group Inc (AIG) Closes in on Deal to Sell Foreign Life Insurance Unit to MetLife for USD 15B in Cash and Stock
Kraft Foods Inc Faces UK Probe over Plans to Close a Cadbury PLC Factory it Said it Would Keep Open
India’s Essar Group Plans to Raise USD 3B Overseas to Finance Acquisitions, Expand Oil, Power and Steel Businesses
France’s President, Nicolas Sarkozy Says Eurozone Ready to Rescue Greece if Necessary
Warren Buffet-Backed Automaker, BYD Co to Begin Selling Electric and Hybrid Cars in Western Europe Next Year
Crude Oil Stands at USD 82.09 per Barrel
Ethanol Stands at USD 1.62 per Gallon
Natural Gas Stands at USD 4.52 per British Thermal Unit (Btu)
Gold Stands at USD 1,137.50 per Troy Ounce
Dow Jones Industrial Average Rises 122.06 Points (1.17%)
London FTSE Index Falls 10.29 Points (-0.18%)
Japan Nikkei Index Rises 216.96 Points (2.09%)
Hong Kong Hang Seng Index Rises 408.90 Points (1.97%)
Brazil Bovespa Index Rises 1,031.79 Points (1.52%)

Overnight Market News – January 18, 2010

admin — Mon, 18 Jan 2010 12:18:02 +0000

Google Inc Investigates whether Employee(s) Might Have Assisted December Cyber-Attack in China
Kraft Foods Inc to Revise Cadbury PLC (CBRY) Bid by Tomorrow, Investors Push CBRY Shares Up on London Stock Exchange in Anticipation of Sweetened Offer
International Monetary Fund (IMF) Head Warns Governments Not to Exit Stimulus Packages Too Quickly as Recovery “Remains Very Fragile”
Japan Airlines Corp Reportedly Considering Dropping Partner, American Airlines for a Deal with Delta Air Lines Inc as it Faces Possible Bankruptcy this Week
Apax Partners LLP Raising GBP 315mm for UK Vaccine-Courier, Marken Ltd
Dubai World Creditors Seek to Offload Loans to Reduce Exposure to Troubled Conglomerate
Crude Oil Stands at USD 78.35 per Barrel
Ethanol Stands at USD 1.78 per Gallon
Natural Gas Stands at USD 5.66 per British Thermal Unit (Btu)
Gold Stands at USD 1,131.10 per Troy Ounce
Dow Jones Industrial Average Falls 100.90 Points (-0.94%)
London FTSE Index Rises 34.18 Points (0.63%)
Japan Nikkei Index Falls 127.02 Points (-1.16%)
Hong Kong Hang Seng Index Falls 194.15 Points (-0.90%)
Brazil Bovespa Index Falls 823.12 Points (-1.18%)

Overnight Market News – January 5, 2010

admin — Tue, 05 Jan 2010 15:36:37 +0000

Kraft Foods Inc Sells US Frozen Pizza Business to Nestle SA for USD 3.7B, Raising Funds to Improve its Bid for Cadbury Plc
South Korean Conglomerate, Kumho Asiana Group Plans to Raise USD 1.1B Via Asset Sales and Job Restructuring in Effort to Repay Debt
UAL Corp’s United Airlines Division Plans to Sell USD 500mm Worth of Senior Notes for “General Corporate Purposes”
Ford Motor Co’s Chinese Joint Venture 2009 Sales Rise 54.5% to 316.14k Units from a Year Ago
German Unemployment Fell for a Sixth Consecutive Month in December with the Number of Unemployed Declining by a Seasonally Adjusted 3k to 3.42mm
Biotechnology Firm, Biogen Idec Inc Announces Retirement of President and Chief Executive Officer, James Mullen Effective June 8, 2010
Crude Oil Stands at USD 81.64 per Barrel
Ethanol Stands at USD 1.97 per Gallon
Natural Gas Stands at USD 5.79 per British Thermal Unit (Btu)
Gold Stands at USD 1,125.50 per Troy Ounce
Dow Jones Industrial Average Rises 155.91 Points (1.5%)
London FTSE Index Rises 4.37 Points (0.08%)
Japan Nikkei Index Rises 27.04 Points (0.25%)
Hong Kong Hang Seng Index Rises 456.30 Points (2.09%)
Brazil Bovespa Index Rises 1,456.67 Points (2.12%)

Overnight Market News – January 4, 2010

admin — Mon, 04 Jan 2010 20:56:55 +0000

Novartis AG Plans Complete Takeover of Alcon, Inc; to Buy Out Remainder of Shares from Nestle SA and Minority Shareholders for USD 39.3B
China Manufacturing Grows at Fastest Pace in 5 Years, HSBC Purchasing Manager Index Rises to 56.1 in December 2009 from 55.7 in November 2009
Kraft Foods Inc to Raise its GBP 10B Offer to Purchase Cadbury PLC Over Next Two Weeks
Singapore’s Economy Shrinks by Annualized 6.8% in Fourth Quarter of 2009, First Contraction in Three Quarters
General Motors Corp’s China Automobile Sales Increased 66.9% to 1.83mm in 2009, Compared with 2008
Dubai to Open World’s Tallest Tower Today, Occupancy Rates Expected to Reach 75% this Year
Crude Oil Stands at USD 81.00 per Barrel
Ethanol Stands at USD 1.95 per Gallon
Natural Gas Stands at USD 5.78 per British Thermal Unit (Btu)
Gold Stands at USD 1,109.70 per Troy Ounce
Dow Jones Industrial Average Falls 120.46 Points (-1.14%)
London FTSE Index Rises 36.72 Points (0.68%)
Japan Nikkei Index Rises 108.35 Points (1.03%)
Hong Kong Hang Seng Index Falls 49.22 Points (-0.23%)
Brazil Bovespa Index Rises 292.37 Points (0.43%)

Overnight Market News – November 9, 2009

admin — Mon, 09 Nov 2009 11:25:42 +0000

Kraft Foods Inc Expected to Officially Launch GBP 10B Hostile Bid for Cadbury PLC by Noon on Monday
General Electric Co, Comcast Corp Agree on USD 30B Valuation for NBC Universal, Bringing them Closer to a Deal
Morgan Stanley Looks to Sell its 34% Stake in Investment Bank, China International Capital Corp
Sprint Nextel Corp to Invest More to Help Clearwire Corp Complete its Network Expansion on Time
Small Business Credit Card Lender, Advanta Corp, Files for Bankruptcy Protection
China’s Passenger Car Sales Rise 75.8% in October, Year-Over-Year on Government Stimulus Activities
Crude Oil Stands at USD 78.67 per Barrel
Ethanol Stands at USD 1.85 per Gallon
Natural Gas Stands at USD 4.62 per British Thermal Unit (Btu)
Gold Stands at USD 1,106.10 per Troy Ounce
Dow Jones Industrial Average Rises 17.46 Points (0.17%)
London FTSE Index Rises 58.23 Points (1.13%)
Japan Nikkei Index Rises 19.64 Points (0.20%)
Hong Kong Hang Seng Index Rises 377.83 Points (1.73%)
Brazil Bovespa Index Falls 349.59 Points (-0.54%)

Overnight Market News – September 28, 2009

admin — Mon, 28 Sep 2009 12:01:22 +0000

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 Pneumonia and Meningitis Vaccine Over the Life of the Product
Johnson & Johnson Purchases 18% Stake in Biotech Company, Crucell NV for EUR 302mm in Flu Vaccine Development Deal
UK Mobile Phone Company, Orange Announces it Will Begin Selling the iPhone this Year, Ending Rival O2′s Exclusive Deal with Apple Inc
Crude Oil Stands at USD 65.71 per Barrel
Ethanol Stands at USD 1.76 per Gallon
Natural Gas Stands at USD 3.96 per British Thermal Unit (Btu)
Gold Stands at USD 990.20 per Troy Ounce
Dow Jones Industrial Average Falls 42.25 Points (-0.44%)
London FTSE Index Falls 3.83 Points (-0.08%)
Japan Nikkei Index Falls 256.46 Points (-2.50%%)
Hong Kong Hang Seng Index Falls 435.99 Points (-2.07%)
Brazil Bovespa Index Rises 309.45 Points (0.52%)

Overnight Market News – September 7, 2009

admin — Mon, 07 Sep 2009 15:11:40 +0000

Kraft Foods Inc Continues to Seek Takeover Deal After Cadbury PLC Rejects USD 16.7B Offer
G20 Finance Ministers Propose New Regulations Requiring Banks to Retain More Profits, Curb Banker Compensation
General Electric Co Says it is Confident it Will Win Contracts to Supply Engines for China’s Big Aircraft Manufacturing Venture
Abu Dhabi to Purchase Singapore’s Chartered Semiconductor Manufacturing Ltd for USD 1.8B
US Regulators to Meet Wednesday to Consider Approval of Cervarix, GlaxoSmithKline PLC’s Vaccine Against Cervical Cancer
Vodafone Group PLC , O2 Draw Up Offers of Approximately GBP 3.5B to Buy T-Mobile UK from Deutsche Telecom
Crude Oil Stands at USD 68.02 per Barrel
Ethanol Stands at USD 1.64 per Gallon
Natural Gas Stands at USD 2.73 per British Thermal Unit (Btu)
Gold Stands at USD 996.70 per Ounce.
Dow Jones Industrial Average Rises 98.66 Points (1.03%)
London FTSE Index Rises 72.36 Points (1.49%)
Japan Nikkei Index Rises 133.83 Points (1.31%)
Hong Kong Hang Seng Index Rises 310.69 Points (1.53%)
Brazil Bovespa Index Rises 945.11 Points (1.70%)

Kraft Foods’ 1st Quarter Results Tops Forecasts

admin — Wed, 06 May 2009 19:19:58 +0000

Kraft Foods Inc., the biggest U.S. food maker, posted first quarter results that topped forecasts. Earnings per share (EPS) grew 15.39% to USD 0.45. Analysts were expecting USD 0.40. Kraft has been able to achieve this earnings growth through staunch attention to curbing production costs. It has also enhanced advertising and product development to allow it to sell products at higher prices and compete with lower-priced rivals.

Kraft reaffirmed its 2009 outlook and expects EPS of approximately USD 1.88 for the year.

Financial News Summary – May 5, 2009

admin — Tue, 05 May 2009 19:45:04 +0000

- Kraft Foods Inc Earnings Top Estimates
- Adidas AG Sees First Quarter Profits Plummet, Announces Job
- UBS Cautious on Outlook