(Reuters) - SAP earlier posted first-quarter licence sales that met market expectations but operating profit came in light of analysts' forecasts.
Read more at Reuters.com Market News
Thursday, April 19, 2007
Corel and Western Canadian Coal May Be Active: Canada Equity Market Previe
(Bloomberg) -- The following is a list of companies whose shares may have unusual price changes in Canadian markets. This preview includes news that broke after markets closed. Symbols are in parentheses after company names and prices are from the last close.
The Standard & Poor's/TSX Composite Index fell 137.26, or 1 percent, to 13,574.70 in Toronto.
Read more at Bloomberg Stocks News
The Standard & Poor's/TSX Composite Index fell 137.26, or 1 percent, to 13,574.70 in Toronto.
Read more at Bloomberg Stocks News
Tokyo Commodity Exchange Says Japan Market Merger Plan May Increase Costs
(Bloomberg) -- The Tokyo Commodity Exchange, Japan's largest commodities bourse, said a proposal to merge the nation's financial markets to attract global investors could increase expenses.
Combining exchanges with different areas of expertise and different reasons for their existence would make the organizations more complex, and increase operating costs, Masaaki Nangaku, the chairman of the Tokyo Commodity Exchange said at a press lunch yesterday.
Read more at Bloomberg Energy News
Combining exchanges with different areas of expertise and different reasons for their existence would make the organizations more complex, and increase operating costs, Masaaki Nangaku, the chairman of the Tokyo Commodity Exchange said at a press lunch yesterday.
Read more at Bloomberg Energy News
Japan Five-Year Notes Set for Worst Week in Three Months as Stocks Rebound
(Bloomberg) -- Japan's five-year notes fell, set for the biggest weekly advance in yields in more than three months, on concern gains in stocks will cut demand for debt.
Demand for the securities was limited after the Yomiuri newspaper said a Bank of Japan report on April 27 will say consumer-price inflation, which erodes debt's fixed payments, will double next fiscal year. The Nikkei 225 Stock Average rebounded from its biggest drop yesterday since March 14.
Read more at Bloomberg Bonds News
Demand for the securities was limited after the Yomiuri newspaper said a Bank of Japan report on April 27 will say consumer-price inflation, which erodes debt's fixed payments, will double next fiscal year. The Nikkei 225 Stock Average rebounded from its biggest drop yesterday since March 14.
Read more at Bloomberg Bonds News
Alliance Boots, Persimmon, WPP Shares May Move: U.K., Irish Equity Preview
(Bloomberg) -- The following stocks may rise or fall in U.K. and Irish markets today. Stock symbols are in parentheses and prices are from yesterday's market close.
The benchmark FTSE 100 Index fell 0.1 percent to close at 6440.60 in London as 25 stocks rose, 76 fell and one was unchanged. The FTSE All-Share Index lost 0.2 percent, to 3345.25. Ireland's ISEQ Index declined 0.3 percent to close at 9601.77.
Read more at Bloomberg Stocks News
The benchmark FTSE 100 Index fell 0.1 percent to close at 6440.60 in London as 25 stocks rose, 76 fell and one was unchanged. The FTSE All-Share Index lost 0.2 percent, to 3345.25. Ireland's ISEQ Index declined 0.3 percent to close at 9601.77.
Read more at Bloomberg Stocks News
Asian Currencies: Ringgit, Philippine Peso Rise; Taiwan Dollar Declines
(Bloomberg) -- Malaysia's ringgit climbed for a seventh day on speculation the nation's central bank will tolerate its appreciation.
CIMB Investment Bank Bhd., Malaysia's biggest investment bank, and Oversea-Chinese Banking Corp. of Singapore this week raised their 2007 forecasts on the ringgit, saying Bank Negara Malaysia will allow the currency to strengthen to reflect a stronger economy.
Read more at Bloomberg Currencies News
CIMB Investment Bank Bhd., Malaysia's biggest investment bank, and Oversea-Chinese Banking Corp. of Singapore this week raised their 2007 forecasts on the ringgit, saying Bank Negara Malaysia will allow the currency to strengthen to reflect a stronger economy.
Read more at Bloomberg Currencies News
Samsung exec agrees to plead guilty to price fixing
(Reuters) - As part of his plea agreement, Kim agreed to pay a $250,000 criminal fine and to cooperate with prosecutors in the ongoing investigation. The entry of the plea agreement and sentencing is currently scheduled for April 25, the Justice Department said. The plea and recommended sentence must be approved by the court.
The government has blamed the price-fixing scheme for driving up the price of chips used in personal computers, servers, cell phones, cameras and game consoles.
Read more at Reuters.com Business News
The government has blamed the price-fixing scheme for driving up the price of chips used in personal computers, servers, cell phones, cameras and game consoles.
Read more at Reuters.com Business News
Japan's Government Bonds May Decline as Rising Stocks to Limit Debt Demand
(Bloomberg) -- Japan's government bonds fell on concern gains in stocks will dent demand for debt.
Benchmark 10-year bonds were set to complete a weekly decline after the Nikkei 225 Stock Average rebounded from its biggest drop yesterday since March 14. Demand for debt may also be limited after the Yomiuri newspaper said a Bank of Japan report next week will say consumer-price inflation will double next fiscal year, after falling short of its estimate for the current year.
Read more at Bloomberg Bonds News
Benchmark 10-year bonds were set to complete a weekly decline after the Nikkei 225 Stock Average rebounded from its biggest drop yesterday since March 14. Demand for debt may also be limited after the Yomiuri newspaper said a Bank of Japan report next week will say consumer-price inflation will double next fiscal year, after falling short of its estimate for the current year.
Read more at Bloomberg Bonds News
Chicago Wheat Prices Rise to Six-Month High as U.S. Freeze Threatens Crops
(Bloomberg) -- Chicago wheat futures rose to the highest in six months in Asia, extending yesterday's rally after a freeze damaged crops in the U.S., the world's largest exporter of the grain.
Some growers in Kansas, the largest U.S. wheat producer, said half their crop was ruined when temperatures dropped into the upper teens on April 7, according to a report from the Kansas Area Wheat Growers. In Missouri, about 10 percent of the crop was rated good and zero percent excellent as of April 15, compared with 40 percent good and 6 percent excellent a week earlier.
Read more at Bloomberg Commodities News
Some growers in Kansas, the largest U.S. wheat producer, said half their crop was ruined when temperatures dropped into the upper teens on April 7, according to a report from the Kansas Area Wheat Growers. In Missouri, about 10 percent of the crop was rated good and zero percent excellent as of April 15, compared with 40 percent good and 6 percent excellent a week earlier.
Read more at Bloomberg Commodities News
China stocks rise 2.87 pct after Thursday's tumble
(Reuters) - Turnover in Shanghai A shares was very heavy at 81.9 billion yuan , although down from 100.9 billion yuan in the morning on Thursday, when turnover hit a record for the full day.
Thursday's tumble was caused by a jump in consumer price inflation to 3.3 percent in March from 2.7 percent in February. That makes a 0.27 percentage point hike in benchmark interest rates likely in coming days or weeks, analysts said.
Read more at Reuters.com Hot Stocks News
Thursday's tumble was caused by a jump in consumer price inflation to 3.3 percent in March from 2.7 percent in February. That makes a 0.27 percentage point hike in benchmark interest rates likely in coming days or weeks, analysts said.
Read more at Reuters.com Hot Stocks News
UPDATE 1-Genesis HealthCare says Pvt equity firms up offer price
(Reuters) - The previous offer made by the joint venture of Formation Capital LLC and JER Partners was $63 a share, or $1.25 billion.
The two private equity firms said the latest offer was its "best and final" price and that if Genesis shareholders did not vote in favor of the deal, then they would focus on other attractive acquisition opportunities.
Read more at Reuters.com Mergers News
The two private equity firms said the latest offer was its "best and final" price and that if Genesis shareholders did not vote in favor of the deal, then they would focus on other attractive acquisition opportunities.
Read more at Reuters.com Mergers News
Altria profit misses estimates, still mulling PMI spin
(Reuters) - The company, whose shares fell almost 2 percent, also said it could be several months before it decides whether to spin off the Philip Morris International business.
"Over the next several months, we will continue to carefully and diligently examine the benefits of a spinoff of Phillip Morris International," and other options, Dinyar Devitre, Altria chief financial officer, said during a conference call with analysts.
Read more at Reuters.com Business News
"Over the next several months, we will continue to carefully and diligently examine the benefits of a spinoff of Phillip Morris International," and other options, Dinyar Devitre, Altria chief financial officer, said during a conference call with analysts.
Read more at Reuters.com Business News
WRAPUP 1-US jobless claims fall 4,000, less than expected
(Reuters) - In a separate report, the New York-based Conference Board said the U.S. Composite Index of Leading Economic Indicators rose 0.1 percent in March, as expected, after declining 0.6 percent in February and 0.3 percent in January.
The index, a key forecasting gauge for the U.S. economy, suggested slow economic growth is likely to continue in the near term, the private research group said.
Read more at Reuters.com Economic News
The index, a key forecasting gauge for the U.S. economy, suggested slow economic growth is likely to continue in the near term, the private research group said.
Read more at Reuters.com Economic News
UPDATE 1-NY development agency picks new underwriters
(Reuters) - Senior managers are Banc of America Securities LLC ; Bear, Stearns & Co. , Citigroup Global Markets Inc. , Goldman, Sachs & Co. , Lehman Brothers , Merrill Lynch & Co. , Morgan Stanley and UBS Securities .
The development agency's board also approved nine financial product providers, three financial advisers and nine firms that will serve as bond counsel.
Read more at Reuters.com Bonds News
The development agency's board also approved nine financial product providers, three financial advisers and nine firms that will serve as bond counsel.
Read more at Reuters.com Bonds News
GLOBAL MARKETS-US profits offset China woe; stocks up,bonds flat
(Reuters) - NEW YORK, April 19 - Worry about China's red-hot economy pushed down equities in Europe and Asia on Thursday, but a round of better-than-expected corporate earnings helped U.S. stocks fend off a sharp loss, while Treasury bonds stalled after an expected pull-back in stocks failed to materialize.
Likewise, an earlier gain in the yen faded as investors maintained their appetite for riskier assets.
Read more at Reuters.com Bonds News
Likewise, an earlier gain in the yen faded as investors maintained their appetite for riskier assets.
Read more at Reuters.com Bonds News
Sallie deal sets precedent for financial firm LBOs
(Reuters) - Well, Sallie Mae's agreement to a $25 billion takeover by a group of private equity firms and banks set a precedent for such a transaction this week, and experts say similar deals will now follow.
The student loan company's deal has shown that the debt implications of a leveraged buyout need not, as many thought, preclude an LBO of a financial company.
Read more at Reuters.com Bonds News
The student loan company's deal has shown that the debt implications of a leveraged buyout need not, as many thought, preclude an LBO of a financial company.
Read more at Reuters.com Bonds News
Franklin Bank sees 1st-qtr profit in line with market view
(Reuters) - For 2007, it expects earnings of $1.34 to $1.44 a share.
Read more at Reuters.com Market News
Read more at Reuters.com Market News
Noble Corp. 1st-qtr earnings rise
(Reuters) - Analysts surveyed by Reuters Estimates on average had expected a profit of $1.80 per share.
Read more at Reuters.com Market News
Read more at Reuters.com Market News
Nokia CFO sees mobile op. margins around 17 pct
(Reuters) - Asked if he thought the 17 percent operating margin would hold, he said:
"We haven't changed that and it looks like by the numbers it is holding. You will have noticed the good improvement in the devices in Enterprise Solutions, and that makes a difference."
Read more at Reuters.com Market News
"We haven't changed that and it looks like by the numbers it is holding. You will have noticed the good improvement in the devices in Enterprise Solutions, and that makes a difference."
Read more at Reuters.com Market News
Nokia CEO says focus on bottom line in Q2
(Reuters) - "And this we did in the first quarter of this year, maximising the bottom line and we will be very proactive in doing that also in the second quarter and in that way," he said.
Kallasvuo said previous comments about slowly turning up the heat on competitors were still applicable, rather than Nokia making any sudden, aggressive moves.
Read more at Reuters.com Market News
Kallasvuo said previous comments about slowly turning up the heat on competitors were still applicable, rather than Nokia making any sudden, aggressive moves.
Read more at Reuters.com Market News
UPDATE 1-HNI profit, sales down
(Reuters) - First-quarter earnings fell to $20.7 million, or 43 cents per share, from $28.5 million, or 55 cents a share, a year earlier.
Analysts had forecast earnings of 45 cents a share, according to Reuters Estimates.
Read more at Reuters.com Market News
Analysts had forecast earnings of 45 cents a share, according to Reuters Estimates.
Read more at Reuters.com Market News
Federal-Mogul reports Q1 profit versus loss
(Reuters) - Sales in the quarter rose 7 percent to $1.72 billion from $1.6 billion a year before.
Federal-Mogul said operational earnings before interest, taxes, depreciation and amortization rose to $199 million from $146 million a year before.
Read more at Reuters.com Market News
Federal-Mogul said operational earnings before interest, taxes, depreciation and amortization rose to $199 million from $146 million a year before.
Read more at Reuters.com Market News
UPDATE 1-Van Houtte gets C$535 mln takeover offer
(Reuters) - Van Houtte said the price offered is C$25 per share. According to the company's latest quarterly report that stated the company had, on average, 21.394 million shares outstanding during the three-month period ended Jan. 6, the equity portion of the offer is worth about C$535 million.
Shares of Van Houtte surged to as much as C$26.50 on the Toronto Stock Exchange on Wednesday before the stock was halted for the remaining of the session.
Read more at Reuters.com Mergers News
Shares of Van Houtte surged to as much as C$26.50 on the Toronto Stock Exchange on Wednesday before the stock was halted for the remaining of the session.
Read more at Reuters.com Mergers News
Brazil's Bonds Soar After Central Bank Dissenters Push for Bigger Rate Cut
(Bloomberg) -- Brazilian real-denominated bonds posted their biggest gain in seven months after the central bank signaled it may quicken the pace of interest-rate reductions.
The yield on the government's benchmark zero-coupon bond due in January 2008 dropped 19 basis points to a record low of 11.72 percent after three of the central bank's seven directors pushed for a bigger cut than the quarter percentage point reduction carried out last night. The dissenters voted for a half-point cut, to 12.25 percent.
Read more at Bloomberg Bonds News
The yield on the government's benchmark zero-coupon bond due in January 2008 dropped 19 basis points to a record low of 11.72 percent after three of the central bank's seven directors pushed for a bigger cut than the quarter percentage point reduction carried out last night. The dissenters voted for a half-point cut, to 12.25 percent.
Read more at Bloomberg Bonds News
WRAPUP 1-China's economy accelerates in Q1, more tightening see
(Reuters) - BEIJING, April 19 - China's economy grew at a blistering 11.1 percent annual pace in the first quarter on the back of booming investment and exports, fuelling speculation that interest rates would need to rise again soon.
The growth rate announced on Thursday was broadly in line with the 11.0 percent forecast by economists in a Reuters poll but it marked an acceleration from 10.4 percent in the fourth quarter of 2006.
Read more at Reuters.com Economic News
The growth rate announced on Thursday was broadly in line with the 11.0 percent forecast by economists in a Reuters poll but it marked an acceleration from 10.4 percent in the fourth quarter of 2006.
Read more at Reuters.com Economic News
Altria mulls possible international spinoff
(Reuters) - Analysts have expected Altria to spin off the international business, which has shown stronger growth than the Philip Morris USA unit, as a second step in the company's corporate overhaul.
Read more at Reuters.com Bonds News
Read more at Reuters.com Bonds News
FHLB sells $4 billion 2-year global notes
(Reuters) - Barclays Capital, Goldman Sachs, J.P. Morgan and UBS Investment Bank were the joint lead managers on the offering.
The last FHLB global note sale was a $3 billion 2-year issue priced in mid-February.
Read more at Reuters.com Bonds News
The last FHLB global note sale was a $3 billion 2-year issue priced in mid-February.
Read more at Reuters.com Bonds News
Canada's Dollar Rises to Five-Month High on Faster-Than-Forecast Inflation
(Bloomberg) -- Canada's dollar strengthened to a more than five-month high after a government report showed consumer prices rose last month more than economists forecast.
The central bank kept the target rate for overnight lending between banks at 4.25 percent on March 6 for a sixth straight meeting, saying inflation will return to its 2 percent target at the beginning of 2008. The bank next meets April 24.
Read more at Bloomberg Currencies News
The central bank kept the target rate for overnight lending between banks at 4.25 percent on March 6 for a sixth straight meeting, saying inflation will return to its 2 percent target at the beginning of 2008. The bank next meets April 24.
Read more at Bloomberg Currencies News
Canadian Stocks May Decline From Record on Rate Concerns; Encana May Slip
(Bloomberg) -- Canadian stocks may fall from a record, led by commodity producers including EnCana Corp., on speculation central banks in China and Canada may raise borrowing costs to stem inflation.
China, the world's second-biggest consumer of oil and the largest buyer of copper, said its economy expanded at a faster- than-expected pace of 11.1 percent in the first quarter. Inflation in Canada, where such commodities as energy and metals dominate exports and the stock market, accelerated more than forecast in March.
Read more at Bloomberg Stocks News
China, the world's second-biggest consumer of oil and the largest buyer of copper, said its economy expanded at a faster- than-expected pace of 11.1 percent in the first quarter. Inflation in Canada, where such commodities as energy and metals dominate exports and the stock market, accelerated more than forecast in March.
Read more at Bloomberg Stocks News
UPDATE 1-Huntington Bancshares 1st-qtr profit falls
(Reuters) - Huntington, which has branches in struggling Detroit-area and northern Ohio markets, warned it expects weakness in housing and in the auto industry to continue weighing on the economy this year. It also expressed confidence it would continue to boost earnings.
The bank expects to earn $1.84 to $1.89 a share this year, excluding merger-related charges and any profit boost from its pending takeover of Sky Financial Group. On that basis, analysts polled by Reuters expect Huntington to earn $1.83 a share.
Read more at Reuters.com Government Filings News
The bank expects to earn $1.84 to $1.89 a share this year, excluding merger-related charges and any profit boost from its pending takeover of Sky Financial Group. On that basis, analysts polled by Reuters expect Huntington to earn $1.83 a share.
Read more at Reuters.com Government Filings News
UPDATE 1-Harley-Davidson profit, sales hit by strike
(Reuters) - The U.S. motorcycle maker reported a first-quarter profit of $192.3 million, or 74 cents a share, compared with $234.6 million, or 86 cents a share, last year.
Sales fell 8.3 percent to $1.18 billion.
Read more at Reuters.com Market News
Sales fell 8.3 percent to $1.18 billion.
Read more at Reuters.com Market News
Quest Diagnostics profit falls
(Reuters) - CHICAGO, April 19 - Quest Diagnostics Inc. on Thursday posted a drop in quarterly profit and missed Wall Street estimates as the biggest U.S. lab testing company reels from the loss of a big insurance contract to a rival.
First-quarter net income fell to $105.9 million, or 54 cents per share, from $144.6 million, or 72 cents a share, a year earlier.
Read more at Reuters.com Market News
First-quarter net income fell to $105.9 million, or 54 cents per share, from $144.6 million, or 72 cents a share, a year earlier.
Read more at Reuters.com Market News
Robusta Coffee May Decline Amid Speculation Rally in London Was Overdone
(Bloomberg) -- Robusta coffee may snap two days of gains in London on speculation that technical indicators show the rally was overdone.
Coffee's 14-day relative strength index, a chart used by traders to measure the momentum of price movements, rose to 64.1, from 63.7 yesterday. A reading of about 70 typically signals prices will decline. That may override the impact of lower shipments from Vietnam, the world's biggest producer of the bitter-tasting beans.
Read more at Bloomberg Commodities News
Coffee's 14-day relative strength index, a chart used by traders to measure the momentum of price movements, rose to 64.1, from 63.7 yesterday. A reading of about 70 typically signals prices will decline. That may override the impact of lower shipments from Vietnam, the world's biggest producer of the bitter-tasting beans.
Read more at Bloomberg Commodities News
UPDATE 1-Southwest Airlines posts higher earnings
(Reuters) - Following the release of the numbers, Chief Executive Gary Kelly played down talk that the airline was a leveraged buyout candidate.
Southwest shares rose sharply on Wednesday after Roger King, an airline analyst with CreditSights, said in a report that a $15 billion Southwest leveraged buyout was a "no-brainer."
Read more at Reuters.com Mergers News
Southwest shares rose sharply on Wednesday after Roger King, an airline analyst with CreditSights, said in a report that a $15 billion Southwest leveraged buyout was a "no-brainer."
Read more at Reuters.com Mergers News
JMP Group sets 7.92 mln share IPO, $10.50-$12.50
(Reuters) - JMP Securities, Merrill Lynch & Co., and Keefe Bruyette & Woods are underwriting the IPO.
JMP Group operates its business through two subsidiaries, JMP Securities LLC and JMP Asset Management LLC.
Read more at Reuters.com Government Filings News
JMP Group operates its business through two subsidiaries, JMP Securities LLC and JMP Asset Management LLC.
Read more at Reuters.com Government Filings News
AMC Entertainment sets IPO at 39.5 million shares
(Reuters) - For the year ended March 30, 2006, the company reported a net loss of $216.2 million on $1.69 billion in revenue.
As of December 28, AMC owned, operated or held interests in 382 theaters with a total of 5,340 screens, about 87 percent of which were located in the United States and Canada.
Read more at Reuters.com Government Filings News
As of December 28, AMC owned, operated or held interests in 382 theaters with a total of 5,340 screens, about 87 percent of which were located in the United States and Canada.
Read more at Reuters.com Government Filings News
Danaher first-quarter earnings rise 18 percent
(Reuters) - NEW YORK, April 19 - Industrial conglomerate Danaher Corp. reported a better-than-expected quarterly profit on Thursday, citing the benefit of recent acquisitions and the impact of a weaker U.S. dollar.
The maker of Craftsman tools, dental technology and water testing equipment said earnings rose 18 percent to $255 million, or 78 cents per share, from $216 million, or 67 cents per share, a year earlier.
Read more at Reuters.com Mergers News
The maker of Craftsman tools, dental technology and water testing equipment said earnings rose 18 percent to $255 million, or 78 cents per share, from $216 million, or 67 cents per share, a year earlier.
Read more at Reuters.com Mergers News
Barclays gets interest for parts of ABN -source
(Reuters) -
LONDON/AMSTERDAM, April 19 - Barclays may find support from rivals if it wants to sell parts of ABN AMRO , a newspaper report said on Thursday, as the UK bank heads towards a deal with its Dutch target early next week.
Read more at Reuters.com Mergers News
LONDON/AMSTERDAM, April 19 - Barclays may find support from rivals if it wants to sell parts of ABN AMRO , a newspaper report said on Thursday, as the UK bank heads towards a deal with its Dutch target early next week.
Read more at Reuters.com Mergers News
Gold Retreats From 11-Month High in London; Silver and Palladium Decline
(Bloomberg) -- Gold fell in London on speculation a rally that took the metal to the highest in eleven months was overdone. Silver also dropped.
Bullion's 14-day relative strength index, which traders use to measure the momentum of price movements, fell to 63.5, from 70.7 on April 16. A reading higher than 70 typically signals prices will decline.
Read more at Bloomberg Commodities News
Bullion's 14-day relative strength index, which traders use to measure the momentum of price movements, fell to 63.5, from 70.7 on April 16. A reading higher than 70 typically signals prices will decline.
Read more at Bloomberg Commodities News
U.K. Day-Ahead Electricity Price Falls to Lowest This Year, Tracking Gas
(Bloomberg) -- U.K. working-day-ahead power fell to its lowest this year as corresponding French power prices and natural-gas costs declined.
Electricity for delivery on the next working day fell 2.7 percent to 18.10 pounds ($36.25) a megawatt hour, according to price information on Bloomberg from the energy broker GFI Group Inc. The weekend starting April 21 traded at 18 pounds.
Read more at Bloomberg Energy News
Electricity for delivery on the next working day fell 2.7 percent to 18.10 pounds ($36.25) a megawatt hour, according to price information on Bloomberg from the energy broker GFI Group Inc. The weekend starting April 21 traded at 18 pounds.
Read more at Bloomberg Energy News
Wall St set for weaker start; Google, Merrill eyed
(Reuters) - June Dow Jones index futures were 0.6 percent lower, while S&P futures declined 0.6 percent and Nasdaq 100 futures dropped 0.7 percent.
Data showing China's economy grew 11.1 percent in the first quarter and inflation rose to 3.3 percent in March cemented expectations that tighter monetary policy will be needed to cool the country's overheating economy.
Read more at Reuters.com Bonds News
Data showing China's economy grew 11.1 percent in the first quarter and inflation rose to 3.3 percent in March cemented expectations that tighter monetary policy will be needed to cool the country's overheating economy.
Read more at Reuters.com Bonds News
French Stocks Decline, Led by Alstom, STMicroelectronics; Schneider Gains
(Bloomberg) -- French stocks dropped, paced by Alstom SA, STMicroelectronics NV and Arcelor Mittal. Schneider Electric SA advanced.
The CAC 40 Index lost 56.72, or 1 percent, to 5779.23 at 9:09 a.m. in Paris. The SBF 120 Index dropped 0.9 percent.
Read more at Bloomberg Stocks News
The CAC 40 Index lost 56.72, or 1 percent, to 5779.23 at 9:09 a.m. in Paris. The SBF 120 Index dropped 0.9 percent.
Read more at Bloomberg Stocks News
RPT-UPDATE 1-TDK to sell TDK-brand recording media to Imation
(Reuters) - TDK, which would become lead shareholder in Imation through the deal, will continue to develop and manufacture recording media after the sale, to be completed in the July-September quarter, TDK said in a release.
Separately, Imation said it would buy back up to 5 million shares of common stock.
Read more at Reuters.com Mergers News
Separately, Imation said it would buy back up to 5 million shares of common stock.
Read more at Reuters.com Mergers News
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