(Reuters) - BOGOTA, May 8 - Colombia may review its relations with the United States if the U.S. Congress fails to approve a free trade agreement between the Andean country and its top ally, Vice President Francisco Santos said on Tuesday.
Santos told RCN TV a failure to clear the accord would send the wrong message in the region, where leftist leaders in Venezuela and Ecuador strongly oppose U.S. free market and foreign policy proposals.
Read more at Reuters.com Bonds News
Tuesday, May 8, 2007
Australian Mining Shares Drop, Led by BHP; Woolworths Leads Retailer Gains
(Bloomberg) -- Australian mining stocks fell, led by BHP Billiton Ltd. and Rio Tinto Group, along with prices of metals including zinc and nickel.
Woolworths Ltd. paced a gain in retail-related shares after the government's budget announced late yesterday included tax cuts and spending that will pump more than A$67 billion ($55 billion) into the economy.
Read more at Bloomberg Stocks News
Woolworths Ltd. paced a gain in retail-related shares after the government's budget announced late yesterday included tax cuts and spending that will pump more than A$67 billion ($55 billion) into the economy.
Read more at Bloomberg Stocks News
EA warns on 2008 profit as "Spore" delayed
(Reuters) - Shares of the world's biggest video game publisher fell almost 3 percent in after-hours trade.
The company, which sells games like "Madden," "Need for Speed" and "The Sims," forecast adjusted profit of 90 cents to $1.20 per share for the year, compared with analysts' average target of $1.31. It forecast a net loss for fiscal 2008.
Read more at Reuters.com Business News
The company, which sells games like "Madden," "Need for Speed" and "The Sims," forecast adjusted profit of 90 cents to $1.20 per share for the year, compared with analysts' average target of $1.31. It forecast a net loss for fiscal 2008.
Read more at Reuters.com Business News
South Korea's Kospi Index Declines, Led by Hyundai Heavy and SK Corp
(Bloomberg) -- South Korea's benchmark stock index, the Kospi Index, fell 0.09 percent at 9:05 a.m.
The index of 731 companies traded on the Korea Exchange fell 1.44 to 1,581.21. Among the stocks in the index, 259 rose, 214 fell and 257 were unchanged.
Read more at Bloomberg Stocks News
The index of 731 companies traded on the Korea Exchange fell 1.44 to 1,581.21. Among the stocks in the index, 259 rose, 214 fell and 257 were unchanged.
Read more at Bloomberg Stocks News
Japan Bonds May Be Little Changed on Speculation Fukui to Signal Rate Rise
(Bloomberg) -- Japan's government bonds may be little changed amid concern central bank Governor Toshihiko Fukui will signal tomorrow that interest rates might rise again this year.
Benchmark 10-year debt yesterday completed a three-day slide, the longest drop since January, after Bank of Japan minutes of the March policy meeting said rates should climb gradually as the economy expands. Fukui last month said the bank will be able to increase borrowing costs as long as it's confident about the outlook for economic growth and prices.
Read more at Bloomberg Bonds News
Benchmark 10-year debt yesterday completed a three-day slide, the longest drop since January, after Bank of Japan minutes of the March policy meeting said rates should climb gradually as the economy expands. Fukui last month said the bank will be able to increase borrowing costs as long as it's confident about the outlook for economic growth and prices.
Read more at Bloomberg Bonds News
Old media turns combative against new media
(Reuters) - At a panel discussion on the second day of the 56th annual National Cable & Telecommunications Association conference, top executives said talk of the demise of traditional media in the digital age was overblown.
While new distribution technologies like the Internet and mobile phones are siphoning television audiences, media companies argued that the Web also brings new revenue streams.
Read more at Reuters.com Mergers News
While new distribution technologies like the Internet and mobile phones are siphoning television audiences, media companies argued that the Web also brings new revenue streams.
Read more at Reuters.com Mergers News
Sumitomo Expects Record Profit of $1.96 Billion This Year, Shimazaki Says
(Bloomberg) -- Sumitomo Corp., Japan's third-largest trading company, said it expects record profit this year and next on gains from its existing businesses and investments.
The company forecasts 235 billion yen ($1.96 billion) profit in both years, Chief Financial Officer Noriaki Shimazaki said in an interview. He repeated projections Sumitomo first made on April 27 for the business years ending March 2008 and March 2009.
Read more at Bloomberg Energy News
The company forecasts 235 billion yen ($1.96 billion) profit in both years, Chief Financial Officer Noriaki Shimazaki said in an interview. He repeated projections Sumitomo first made on April 27 for the business years ending March 2008 and March 2009.
Read more at Bloomberg Energy News
Japan Stocks May Drop on Concern U.S. Spending Is Faltering, Led by Canon
(Bloomberg) -- Japanese stocks may slip, led by electronics makers such as Canon Inc. on concern consumer spending in the U.S. weakened last month.
Sales at stores open at least a year may post a ``small decline'' when retailers release April results on May 10, the International Council of Shopping Centers and UBS Securities LLC said yesterday.
Read more at Bloomberg Stocks News
Sales at stores open at least a year may post a ``small decline'' when retailers release April results on May 10, the International Council of Shopping Centers and UBS Securities LLC said yesterday.
Read more at Bloomberg Stocks News
UPDATE 1-Medicis agrees to $9.8 mln settlement-DOJ
(Reuters) - The drug company had allegedly promoted Loprox -- typically used for fungal skin conditions such as athlete's foot -- among pediatricians as a treatment for diaper rash from about November 2001 through April 2004.
Loprox, known chemically as ciclopirox, is only approved by the U.S. Food and Drug Administration as a fungicide for patients over 10 years of age, the Justice department said.
Read more at Reuters.com Government Filings News
Loprox, known chemically as ciclopirox, is only approved by the U.S. Food and Drug Administration as a fungicide for patients over 10 years of age, the Justice department said.
Read more at Reuters.com Government Filings News
UPDATE 1-Papa John's 1st-qtr earnings top estimates
(Reuters) - Papa John's shares rose 2.2 percent in extended trade following the announcement.
First-quarter net income was $13.2 million, or 43 cents per share, compared with $16 million, or 47 cents per share, a year ago.
Read more at Reuters.com Market News
First-quarter net income was $13.2 million, or 43 cents per share, compared with $16 million, or 47 cents per share, a year ago.
Read more at Reuters.com Market News
Deltek files for $200 mln IPO
(Reuters) - The company said in a preliminary offering document filed with the U.S. Securities and Exchange Commission that it is seeking a Nasdaq listing under the symbol "PROJ."
Read more at Reuters.com Government Filings News
Read more at Reuters.com Government Filings News
Allscripts, Cisco Systems, Electronic Arts, Perini: U.S. Equity Preview
(Bloomberg) -- The following is a list of companies whose shares may have unusual price changes in U.S. exchanges tomorrow. This preview includes news that broke after exchanges closed. Stock symbols are in parentheses after company names.
Allscripts Healthcare Solutions Inc. (MDRX US) fell $2.06, or 7.6 percent, to $25 in trading after the official close of U.S. exchanges. The provider of software for medical doctors reported revenue of $65 million in the first quarter. That missed the average estimate of $67.9 million from analysts in a Bloomberg survey.
Read more at Bloomberg Stocks News
Allscripts Healthcare Solutions Inc. (MDRX US) fell $2.06, or 7.6 percent, to $25 in trading after the official close of U.S. exchanges. The provider of software for medical doctors reported revenue of $65 million in the first quarter. That missed the average estimate of $67.9 million from analysts in a Bloomberg survey.
Read more at Bloomberg Stocks News
ABC/WashPost US Consumer Comfort Index rises to -3
(Reuters) - Two of the three components of the index rose from the previous week. The number of Americans with positive views on their personal finances was up to 65 percent from 63 percent and those consumers with positive attitudes toward the national economy rose 1 percentage point to 44.
The percentage of Americans with positive views of the buying climate was unchanged at 37.
Read more at Reuters.com Economic News
The percentage of Americans with positive views of the buying climate was unchanged at 37.
Read more at Reuters.com Economic News
Unapproved use of drug stents widespread-studies
(Reuters) - That enthusiasm began to dampen last fall after research showed a small but serious risk of deadly blood clots long after implantation.
Two studies in this week's Journal of the American Medical Association reveal just how far doctors went with drug-eluting stents. The studies found about half of drug-eluting stents used in 2004 and 2005 were implanted for an unapproved condition.
Read more at Reuters.com Bonds News
Two studies in this week's Journal of the American Medical Association reveal just how far doctors went with drug-eluting stents. The studies found about half of drug-eluting stents used in 2004 and 2005 were implanted for an unapproved condition.
Read more at Reuters.com Bonds News
Cisco profit rises on firm network equipment demand
(Reuters) - Excluding special items, net income rose to $2.1 billion, or 34 cents per share, from $1.8 billion, or 29 cents per share.
The shares of Cisco, the world's largest maker of the routers and switches that direct Internet traffic, have barely risen since the start of 2007 on concerns of a slower U.S. economy and views that much the company's potential growth had already been priced in after a 60 percent surge in 2006.
Read more at Reuters.com Market News
The shares of Cisco, the world's largest maker of the routers and switches that direct Internet traffic, have barely risen since the start of 2007 on concerns of a slower U.S. economy and views that much the company's potential growth had already been priced in after a 60 percent surge in 2006.
Read more at Reuters.com Market News
UPDATE 1-Moody's, S&P may cut Thomson ratings
(Reuters) - The two firms said on Tuesday they are in talks for Thomson to purchase Reuters for about 8.8 billion pounds to create the world's biggest financial news and data company. For details see [ID:nL08555340].
"The review is due to the significant increase in leverage that would result from funding the approximate $9 billion in cash consideration with debt should the transaction be completed in accordance with the terms outlined in Thomson's May 8, 2007 press release," Moody's said in a release.
Read more at Reuters.com Mergers News
"The review is due to the significant increase in leverage that would result from funding the approximate $9 billion in cash consideration with debt should the transaction be completed in accordance with the terms outlined in Thomson's May 8, 2007 press release," Moody's said in a release.
Read more at Reuters.com Mergers News
UPDATE 2-Duke Energy meets expectations, reaffirms outlook
(Reuters) - Duke Energy, which merged with peer Cinergy in April of last year, said its first quarter profit benefited from the addition of the former Cinergy regulated utility operation in the Midwest, cooler winter weather, and higher international results.
Those earnings drivers were partially offset by $51 million in merger-related electricity rate reductions and lower bulk power marketing sales.
Read more at Reuters.com Bonds News
Those earnings drivers were partially offset by $51 million in merger-related electricity rate reductions and lower bulk power marketing sales.
Read more at Reuters.com Bonds News
Canada Dollar Falls From 11-Month High on U.S. Currency Strength, Housing
(Bloomberg) -- Canada's dollar slipped from an 11- month high as the U.S. dollar strengthened and a report showed new-home starts fell in April.
The Canadian dollar was among 13 of the 16 most actively traded currencies to decline against the U.S. dollar as traders pared risk before the Federal Reserve's Open Market Committee sets rates tomorrow.
Read more at Bloomberg Currencies News
The Canadian dollar was among 13 of the 16 most actively traded currencies to decline against the U.S. dollar as traders pared risk before the Federal Reserve's Open Market Committee sets rates tomorrow.
Read more at Bloomberg Currencies News
Tenet Healthcare posts loss as shares fall
(Reuters) - The Dallas-based chain reported an operating loss of 3 cents per share, compared with an average forecast among Wall street analysts of a loss of 2 cents per share, according to Reuters Estimates.
Patient admissions at Tenet, which owns about 60 hospitals, slid 1.7 percent, and highly profitable commercial admissions sank 3.5 percent. Many of Tenet's peers reported stable or positive admissions trends in the first quarter.
Read more at Reuters.com Hot Stocks News
Patient admissions at Tenet, which owns about 60 hospitals, slid 1.7 percent, and highly profitable commercial admissions sank 3.5 percent. Many of Tenet's peers reported stable or positive admissions trends in the first quarter.
Read more at Reuters.com Hot Stocks News
Copper Rises in New York After Wholesalers' Gain Signals Increasing Demand
(Bloomberg) -- Copper futures rose in New York after sales at U.S. wholesalers increased at the fastest pace in 18 months, signaling demand may climb in the world's second-largest consumer of the metal.
The 1.8 percent increase in March reflected rising demand for durable goods and suggests companies are making progress in limiting stockpiles built up last year, the U.S. Commerce Department said today. Copper, used in wires and pipes, has gained 30 percent this year during a global expansion.
Read more at Bloomberg Commodities News
The 1.8 percent increase in March reflected rising demand for durable goods and suggests companies are making progress in limiting stockpiles built up last year, the U.S. Commerce Department said today. Copper, used in wires and pipes, has gained 30 percent this year during a global expansion.
Read more at Bloomberg Commodities News
Moody's may downgrade CSX on share repurchases
(Reuters) - The company also said it still expects record operating income and earnings per share in 2007.
"CSX's plan now marks the most aggressive increase in debt for shareholder enhancement programs among the major railroads, and comes at a time when softer economic conditions could further weaken demand for railroad transportation services," Moody's analyst Bob Jankowitz said in a statement.
Read more at Reuters.com Bonds News
"CSX's plan now marks the most aggressive increase in debt for shareholder enhancement programs among the major railroads, and comes at a time when softer economic conditions could further weaken demand for railroad transportation services," Moody's analyst Bob Jankowitz said in a statement.
Read more at Reuters.com Bonds News
Dynegy posts profit on power prices
(Reuters) - Analysts had on average expected the company to post earnings of 3 cents per share, according to data compiled by Reuters Estimates.
Shares of the Houston-based company, whose power plants produce a total of nearly 20,000 megawatts of electricity, have risen about 40 percent this year, compared with a rise of 15 percent in the Standard & Poor's utility index
Read more at Reuters.com Mergers News
Shares of the Houston-based company, whose power plants produce a total of nearly 20,000 megawatts of electricity, have risen about 40 percent this year, compared with a rise of 15 percent in the Standard & Poor's utility index
Read more at Reuters.com Mergers News
UPDATE 1-Qiao Xing Mobile sees 30 percent revenue growth
(Reuters) - "It's safe to say we're looking at sustained growth of at least 30 percent annually," Tan said in a telephone interview with Reuters.
The company's stock, which made its debut on the New York Stock Exchange on Friday in a $160 million public offering, was down 3 percent at $10.55 in early afternoon trading.
Read more at Reuters.com Market News
The company's stock, which made its debut on the New York Stock Exchange on Friday in a $160 million public offering, was down 3 percent at $10.55 in early afternoon trading.
Read more at Reuters.com Market News
Boston Scientific may sell some units to pay debt
(Reuters) - "There are some pieces of Boston Scientific we've acquired or inherited over the years that are no longer strategic," said Lawrence Best, executive vice president and chief financial officer.
"It's better to simplify our business and basically liquidate our positions, or divest from those businesses," said Best, who is due to retire from his position in July. "This is a good thing. This will help fund some of the debt repayment. It also simplifies the business and allows management to focus on the sweet spots."
Read more at Reuters.com Business News
"It's better to simplify our business and basically liquidate our positions, or divest from those businesses," said Best, who is due to retire from his position in July. "This is a good thing. This will help fund some of the debt repayment. It also simplifies the business and allows management to focus on the sweet spots."
Read more at Reuters.com Business News
UPDATE 1-DJO posts lower Q1 profit, cuts 2007 outlook
(Reuters) - Shares of the company hit a new year-low of $31.07 during morning trade and were down almost 20 percent at $32.18 in midday trade on the New York Stock Exchange.
Last September, DJO said it expects to complete the integration of the Aircast business, which it acquired in April 2006, by the end of last year.
Read more at Reuters.com Market News
Last September, DJO said it expects to complete the integration of the Aircast business, which it acquired in April 2006, by the end of last year.
Read more at Reuters.com Market News
UPDATE 1-Fidelity fined for misleading military personnel
(Reuters) - The violations took place between January 2003 and January 2006 and concerned the Destiny I and II funds, which require investors to invest in installments, the regulator said.
According to the NASD, the broker-dealers issued literature with "mountain charts" that showed the funds' returns over 30 years, but which masked substantial underperformance in the most recent 15 years.
Read more at Reuters.com Government Filings News
According to the NASD, the broker-dealers issued literature with "mountain charts" that showed the funds' returns over 30 years, but which masked substantial underperformance in the most recent 15 years.
Read more at Reuters.com Government Filings News
Florida East Coast Options Trading Surged Before News of Fortress Buyout
(Bloomberg) -- Trading in options to buy shares of Florida East Coast Industries Inc. surged to the most ever last week before the railroad operator said today that it will be acquired by private equity firm Fortress Investment Group LLC.
The number of call options traded in Florida East Coast jumped 24-fold on April 30 to 1,888 contracts and reached 4,722 on May 2. An average of 375 such contracts changed hands daily over the last 20 days, according to data compiled by Bloomberg.
Read more at Bloomberg Stocks News
The number of call options traded in Florida East Coast jumped 24-fold on April 30 to 1,888 contracts and reached 4,722 on May 2. An average of 375 such contracts changed hands daily over the last 20 days, according to data compiled by Bloomberg.
Read more at Bloomberg Stocks News
Mexican CIE sells majority stake in S.America units
(Reuters) - Chief Executive Jaime Zevada told Reuters that CIE will maintain a 24 percent stake in live entertainment operations in Brazil, Argentina and Chile, now comprised under a newly created company called Newco.
Revenue from the three countries plus the United States accounted for 11 percent of CIE's total revenue of 2.413 billion pesos in the first quarter of 2007.
Read more at Reuters.com Mergers News
Revenue from the three countries plus the United States accounted for 11 percent of CIE's total revenue of 2.413 billion pesos in the first quarter of 2007.
Read more at Reuters.com Mergers News
Fidelity fined for misleading military personnel
(Reuters) - The penalty will be paid by Fidelity Distributors Corp. of Boston and Fidelity Investments Institutional Services Co. of Smithfield, Rhode Island, the regulator said. Neither admitted wrongdoing.
Read more at Reuters.com Government Filings News
Read more at Reuters.com Government Filings News
ProSiebenSat.1 Seeks 7 Billion-Euro Loan for Stake Sale to KKR, Permira
(Bloomberg) -- ProSiebenSat.1 Media AG, Germany's biggest broadcaster, is seeking a 7 billion-euro ($9.5 billion) loan to finance the purchase of a majority stake by Kohlberg Kravis Roberts & Co. and Permira Advisers LLP, said bankers involved in the deal.
KKR in New York and London-based Permira bought 50.5 percent of ProSiebenSat.1 last year and plan to combine the company with rival SBS Broadcasting, based in Luxembourg. The loan will be offered to banks starting tomorrow after ProSiebenSat.1 reports earnings, said the bankers, who declined to be identified because the transaction is private.
Read more at Bloomberg Bonds News
KKR in New York and London-based Permira bought 50.5 percent of ProSiebenSat.1 last year and plan to combine the company with rival SBS Broadcasting, based in Luxembourg. The loan will be offered to banks starting tomorrow after ProSiebenSat.1 reports earnings, said the bankers, who declined to be identified because the transaction is private.
Read more at Bloomberg Bonds News
OSI postpones vote on taking the company private
(Reuters) - OSI in November said it planned to go private in a $3.04 billion buyout that includes its founders and private equity firms Bain Capital Partners and Catterton Partners. The board has recommended a vote in favor of the deal.
Read more at Reuters.com Mergers News
Read more at Reuters.com Mergers News
Mellon's Shankar Says Investors Pare Risks Before Central Bank Meetings
(Bloomberg) -- Samarjit Shankar, director of global strategy for the foreign exchange group in Boston at Mellon Financial Corp., comments on the euro's decline against the dollar today.
``People are unwinding some of the euro long positions,'' he said. ``It is a continuation of the correction we saw last week. U.S. data isn't completely on the weak side. The market has been way too long on the euro.'' A long position is a bet on a currency's advance.
Read more at Bloomberg Currencies News
``People are unwinding some of the euro long positions,'' he said. ``It is a continuation of the correction we saw last week. U.S. data isn't completely on the weak side. The market has been way too long on the euro.'' A long position is a bet on a currency's advance.
Read more at Bloomberg Currencies News
European Stocks Fall, Led by KPN, Clariant on Earnings; Swiss Re Declines
(Bloomberg) -- European stocks fell after Royal KPN NV, the largest phone company in the Netherlands, reported earnings that missed analysts' estimates and chemical maker Clariant AG's profit dropped.
Europe's Dow Jones Stoxx 600 Index has climbed 6.6 percent this year, closing yesterday at the highest since September 2000, as bid speculation intensified and earnings beat projections. Analysts predict profit will rise 6.4 percent this year, based on data from FactSet Research Systems Inc. in London.
Read more at Bloomberg Stocks News
Europe's Dow Jones Stoxx 600 Index has climbed 6.6 percent this year, closing yesterday at the highest since September 2000, as bid speculation intensified and earnings beat projections. Analysts predict profit will rise 6.4 percent this year, based on data from FactSet Research Systems Inc. in London.
Read more at Bloomberg Stocks News
AK Steel, AQuantive, Fuel Tech, Heelys, McDermott: 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.
Adidas AG (ADDYY US) American depositary receipts, each representing half a share, fell 30 cents, or 1 percent, to $28.70 and traded as low as $28.40. The world's second-largest sporting-goods maker said in a statement distributed by Business Wire that its first-quarter net income fell 11 percent to 128 million euros ($174.3 million) from 144 million euros a year earlier. That topped the 125.4 million-euro median estimate of five analysts surveyed by Bloomberg.
Read more at Bloomberg Stocks News
Adidas AG (ADDYY US) American depositary receipts, each representing half a share, fell 30 cents, or 1 percent, to $28.70 and traded as low as $28.40. The world's second-largest sporting-goods maker said in a statement distributed by Business Wire that its first-quarter net income fell 11 percent to 128 million euros ($174.3 million) from 144 million euros a year earlier. That topped the 125.4 million-euro median estimate of five analysts surveyed by Bloomberg.
Read more at Bloomberg Stocks News
Thomson lower in N.A. trade after Reuters bid
(Reuters) - Meanwhile, on the New York Stock Exchange, its U.S.-listed shares slid $2.03 to $40.80 after finishing Monday at $42.83.
Because roughly half of the transaction will be paid in Thomson shares at a rate of 0.16 of a Thomson share for each Reuters share, each move in Thomson shares affects the prospective deal's value.
Read more at Reuters.com Hot Stocks News
Because roughly half of the transaction will be paid in Thomson shares at a rate of 0.16 of a Thomson share for each Reuters share, each move in Thomson shares affects the prospective deal's value.
Read more at Reuters.com Hot Stocks News
Hewlett-Packard says raises second-quarter outlook
(Reuters) - It said non-GAAP diluted earnings per share should be in the range of 69 to 70 cents for the period, while GAAP earnings should be in the range of 64 to 65 cents per share.
Read more at Reuters.com Market News
Read more at Reuters.com Market News
Expedia quarterly net up
(Reuters) - Excluding one-time items, Expedia earned 18 cents per share. On that basis, analysts' average forecast was 20 cents per share, according to Reuters Estimates.
The company reporting total bookings of $5.02 billion, up 8 percent from the first quarter of 2006. European bookings grew 32 percent.
Read more at Reuters.com Market News
The company reporting total bookings of $5.02 billion, up 8 percent from the first quarter of 2006. European bookings grew 32 percent.
Read more at Reuters.com Market News
UPDATE 1-Rural weakness pinches Canada housing starts
(Reuters) - The number of starts eased to a seasonally adjusted annualized 211,900 units from a revised 214,000 units in March. The consensus expectation of analysts was for 215,000 starts.
Rural starts in April were estimated at an annual rate of 32,900 units, down from 36,100 in March.
Read more at Reuters.com Economic News
Rural starts in April were estimated at an annual rate of 32,900 units, down from 36,100 in March.
Read more at Reuters.com Economic News
U.S. Stock-Index Futures Retreat on Earnings; Tyco, CVS/Caremark Decline
(Bloomberg) -- U.S. stocks fell after earnings from Tyco International Ltd. and CVS/Caremark Corp. raised concern profits aren't climbing fast enough to sustain the stock market's five-week rally.
Tyco, the world's biggest maker of electronic connectors and security systems, dropped after reporting an earnings decline. CVS/Caremark, the second-largest U.S. drugstore chain, retreated after net income last quarter failed to top analysts' estimates.
Read more at Bloomberg Stocks News
Tyco, the world's biggest maker of electronic connectors and security systems, dropped after reporting an earnings decline. CVS/Caremark, the second-largest U.S. drugstore chain, retreated after net income last quarter failed to top analysts' estimates.
Read more at Bloomberg Stocks News
Canada Dollar Falls From 11-Month High as Housing Starts Decline in April
(Bloomberg) -- Canada's dollar dropped from an 11- month high after a report showed new-home starts fell in April.
Housing starts fell to 211,900 units on an annual basis from 214,000 in March, Canada Mortgage and Housing Corp. said today. The median estimate of 21 economists surveyed by Bloomberg was for an increase of 215,000.
Read more at Bloomberg Currencies News
Housing starts fell to 211,900 units on an annual basis from 214,000 in March, Canada Mortgage and Housing Corp. said today. The median estimate of 21 economists surveyed by Bloomberg was for an increase of 215,000.
Read more at Bloomberg Currencies News
UPDATE 1-Warner Music posts wider loss, see job cuts
(Reuters) - The world's fourth-largest music company reported a fiscal second-quarter net loss of $27 million, or 19 cents a share, compared with a loss of $7 million, or 5 cents a share, a year earlier.
Excluding one-time items, it lost 10 cents per share, in line with analysts' average forecast, according to Reuters Estimates.
Read more at Reuters.com Market News
Excluding one-time items, it lost 10 cents per share, in line with analysts' average forecast, according to Reuters Estimates.
Read more at Reuters.com Market News
UPDATE 1-Weston's profit hit by Loblaw's charges
(Reuters) - Weston, North America's largest baked-goods maker, earned C$104 million , or 70 Canadian cents a share, down from C$128 million, or 91 Canadian cents a share, a year earlier.
Loblaw, Canada's largest food retailer, last week reported a slump in first-quarter profit due to restructuring costs.
Read more at Reuters.com Market News
Loblaw, Canada's largest food retailer, last week reported a slump in first-quarter profit due to restructuring costs.
Read more at Reuters.com Market News
UPDATE 1-Mittal eyeing AK Steel deal -- FT Web site
(Reuters) - Shares of Ohio-based AK Steel rose to $39 before the closing bell in New York from a close at $32.06 on Monday.
FT Alphaville, which did not cite its sources or say how many people confirmed the report, said a deal could value AK at up to $40 per share, or just under $4.5 billion.
Read more at Reuters.com Mergers News
FT Alphaville, which did not cite its sources or say how many people confirmed the report, said a deal could value AK at up to $40 per share, or just under $4.5 billion.
Read more at Reuters.com Mergers News
Norway Leads Declines in Western Europe; Volvo, UPM, Norske Skog Slump
(Bloomberg) -- Nordic stocks declined for the first time in three days, paced by Volvo AB, Europe's second-largest truckmaker, and UPM-Kymmene Oyi, the third-biggest papermaker.
Norske Skogindustrier ASA dropped to a 10-month low after Deutsche Bank AG reduced its projection for shares of the world's biggest maker of newsprint.
Read more at Bloomberg Stocks News
Norske Skogindustrier ASA dropped to a 10-month low after Deutsche Bank AG reduced its projection for shares of the world's biggest maker of newsprint.
Read more at Bloomberg Stocks News
McDonald's April same-store sales rise 4.8 pct
(Reuters) - Same-store sales rose 3.5 percent in both the United States, McDonald's biggest market, and Europe. In the company's Asia-Pacific business, same-store sales were up 10.3 percent.
Read more at Reuters.com Market News
Read more at Reuters.com Market News
UPDATE 1-ISTA's trial of eye drug has mixed results
(Reuters) - The company said the study showed statistical significance in the reduction of eye itching, but did not achieve statistical significance in the second main target, eye redness.
This news follows the company's announcement on Friday that U.S. health regulators rejected its treatment for eye inflammation, T-Pred. That day, ISTA lost almost a third of its market value.
Read more at Reuters.com Market News
This news follows the company's announcement on Friday that U.S. health regulators rejected its treatment for eye inflammation, T-Pred. That day, ISTA lost almost a third of its market value.
Read more at Reuters.com Market News
CVS/Caremark posts higher profit
(Reuters) - CVS, based in Woonsocket, Rhode Island, said revenue jumped 32.1 percent to $13.18 billion. As previously reported, sales at stores open more than one year rose 7.5 percent.
CVS has been opening new stores, adding in-store clinics to some locations and beefing up its operations with two large acquisitions in the past year. It bought the Osco and Sav-on chains from Albertsons last year and bought Caremark in March.
Read more at Reuters.com Business News
CVS has been opening new stores, adding in-store clinics to some locations and beefing up its operations with two large acquisitions in the past year. It bought the Osco and Sav-on chains from Albertsons last year and bought Caremark in March.
Read more at Reuters.com Business News
Banco Itau's First-Quarter Net Rises 30 Percent on Higher Consumer Lending
(Bloomberg) -- Banco Itau Holding Financeira SA, Brazil's biggest non-government bank, said first-quarter profit rose 30 percent as the company lent more to consumers.
Net income increased to 1.9 billion reais ($941 million), or 1.59 reais a share, from 1.46 billion reais, or 1.32 reais a share, a year earlier, the Sao Paulo-based company said in a statement today on the Brazilian securities regulator's Web site. That beat the 1.52 billion-reais estimate by Carlos Macedo, a bank analyst at Uniao de Bancos Brasileiros SA.
Read more at Bloomberg Emerging Markets News
Net income increased to 1.9 billion reais ($941 million), or 1.59 reais a share, from 1.46 billion reais, or 1.32 reais a share, a year earlier, the Sao Paulo-based company said in a statement today on the Brazilian securities regulator's Web site. That beat the 1.52 billion-reais estimate by Carlos Macedo, a bank analyst at Uniao de Bancos Brasileiros SA.
Read more at Bloomberg Emerging Markets News
UPDATE 1-Tyco quarterly profit falls
(Reuters) - Net earnings fell 6.7 percent to $835 million, or 41 cents per share, in Tyco's fiscal second quarter, from $895 million, or 43 cents per share, a year earlier.
Excluding discontinued operations and charges Tyco's separation and restructuring, earnings from continuing operations were 49 cents cents per share, beating analysts' average forecast by 2 cents, according to Reuters Estimates.
Read more at Reuters.com Bonds News
Excluding discontinued operations and charges Tyco's separation and restructuring, earnings from continuing operations were 49 cents cents per share, beating analysts' average forecast by 2 cents, according to Reuters Estimates.
Read more at Reuters.com Bonds News
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