Archive for ◊ March, 2010 ◊

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• Wednesday, March 31st, 2010

Disney Miramax deadline delayed, parties mull bids
LOS ANGELES (Reuters) – The Weinstein Co, and billionaire brothers Alec and Tom Gores continued to weigh offers on Wednesday for Walt Disney Co’s Miramax unit as the media giant pushed back the bid deadline, according to people with knowledge of the situation.


Bigger Kraft faces tough task ahead
Analysts ponder how Kraft can deliver more ambitious goals following its takeover of Cadbury, as the US group has struggled consistently to increase sales above its 4% target

US stock indices up for fourth week in a row
US stocks were flat on Friday after fourth-quarter growth figures were revised downward and fears of military tensions on the Korean peninsula flared up

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• Wednesday, March 31st, 2010

Cisco’s takeover of Tandberg approved
The electronic equipment maker has won regulatory clearance for its $3.4bn acquisition of Tandberg, the Norwegian video-conferencing company, after making a minor concession to regulators

Financial Reform Time Line: How the Regulation Fight Might Play Out
The financial regulation debate has a long way to go in the U.S. Congress, with the action shifting to the full Senate and big headlines unlikely until April.

High-Frequency Traders Confident as CFTC Ramps Up Scrutiny
Big stakeholders in the U.S. futures industry appear confident that its regulator will see the value in high-frequency trading as the regulator ramps up scrutiny of the rapid-fire technique.

Playing commodities as interest rates rise
The impact of rising interest rates on bonds has been well-documented, but what of the impact on commodities?


Deck Chairs Secure Aboard USS Financial Regulation
The big U.S. government agencies in charge of policing banks and markets, despite being excoriated over the severe 2008-2009 financial crisis, have successfully dodged a major structural shake-up.

Commodities Traders Increasingly Adopt Algorithms
Commodities traders increasingly are adopting algorithms, but these aren’t the equity markets’ automated trading strategies, as commodities algos often make room for human discretion. By Ivy Schmerken

Therese Poletti’s Tech Tales: Apple and Google: Frenemies forever?
But their rivalry is good for tech innovation.


Colonial First State Global Asset Management Appoints ASSET4 As Its ESG Research Provider
ASSET4, which was acquired by Thomson Reuters in November 2009, has developed the world’s largest database of transparent, objective and auditable ESG information covering over 3,000 publicly listed companies worldwide, as well as a variety of other entities including countries, local authorities, state-owned companies and supranational entities.

RIM forecasts strong growth
Research in Motion, the Canadian manufacturer of the BlackBerry family of smartphones, expects strong shipments, revenue, subscriber and earnings growth in the current quarter, despite growing competition from rivals including Apple, HTC and Motorola

Once Skeptical, Congress Warms to CFTC’s Gensler
Gary Gensler, who once supported market deregulation blamed for the recent financial meltdown, has been winning over members of Congress who had been skeptical of his ability to rein in Wall Street as the top U.S. futures regulator.

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• Wednesday, March 31st, 2010

Judge Waters Down 2003 Research Analyst Deal
More than six years after Wall Street banks split their research and investment banking operations in a landmark settlement with the Securities and Exchange Commission, that firewall is being scaled down.

SEC eyes new rules for asset-backed securities (Reuters)
Reuters – U.S. securities regulators will meet April 7 to consider new disclosures for asset-backed securities such as those linked to mortgages, the Securities and Exchange Commission said on its web site.

Blockbuster shares slip to new 52-week low (AP)
AP – Shares of video rental company Blockbuster Inc. fell Tuesday, a day after the company said it received a warning that it will be kicked off the New York Stock Exchange if it can’t raise its market capitalization.

High-Frequency Traders Confident as CFTC Ramps Up Scrutiny
Big stakeholders in the U.S. futures industry appear confident that its regulator will see the value in high-frequency trading as the regulator ramps up scrutiny of the rapid-fire technique.

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• Wednesday, March 31st, 2010

NYC Recession Proves Shallower Than Expected
Financial sector’s swift rebound has New York City’s current recession, though “quite severe” for people who lost their jobs, looking surprisingly shallow and brief when compared with previous downturns.

College grads still face health insurance gap
Young adults graduating this spring who haven’t found a job, or whose jobs will not provide health insurance benefits, found cause for celebration when the health care bill was signed into law on March 23. But it’s a bit too early to breathe a sigh of relief.


American pushes New York growth with JetBlue deal
Partnership is another attempt to loosen Delta’s grip on transatlantic business-travel market.


Theflyonthewall.com’s Instant Posts of Wall Street Research Banned
A Manhattan federal judge barred the financial news service Theflyonthewall.com from issuing immediate news about analyst research from several Wall Street banks, often before recommendations are shared with clients.

Industry Working to Build Infrastructure to Enable Central Clearing of OTC Derivatives
While Congress hammers out details of OTC derivatives reform, buy-side firms and dealers are working to connect to central counterparty clearinghouses to enable central clearing and reduce counterparty risk.

List of Indicted Madoff Aides Grows
Two former computer programmers at Bernie Madoff’s firm have been indicted by a federal grand jury in Manhattan, bringing to five the number of Madoff aides who have been arrested since the scandal began to unfold 15 months ago.

Citi’s Primerica IPO raises at least $321 mln
Primerica’s initial public offering prices above the anticipated range, raising at least $321 million for current owner Citigroup, according to a person familiar with the situation.


Lihir Gold rejects $8.4 billion Newcrest bid
Papuan-Australian miner Lihir Gold rejects a $8.4 billion cash-and-stock takeover bid from Newcrest that would have created a gold-mining goliath.


UBS Brokerage Cuts 200 Jobs; Executives Depart
Swiss banking giant UBS AG cut 200 headquarters jobs in its U.S. brokerage unit, people familiar with the situation said, as wealth management chief Robert McCann looks to slash costs and drive further senior leadership changes.

Financial Reform Time Line: How the Regulation Fight Might Play Out
The financial regulation debate has a long way to go in the U.S. Congress, with the action shifting to the full Senate and big headlines unlikely until April.

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• Wednesday, March 31st, 2010

Job anxiety hits Wall Street; RIM sinks late (Reuters)

People walk through the rain past the New York Stock Exchange in New York early on Tuesday, March 30, 2010. A second major storm in less than a month continued to drench the east coast as forecasters predicted 'dangerous flooding'. A statue of George Washington is at right. (AP Photo/Peter Morgan)Reuters – Stocks fell on Wednesday as a report showing a surprising drop in private- sector employment stoked concerns about the health of the labor market two days before the government’s key jobs data.


European stock markets rise before quarter-end (AFP)

A stock broker trades at the stock exchange in Frankfurt in 2009. Europe's main equity markets rose slightly, the last day of the first quarter, as traders eyed the Easter holiday weekend and upcoming US jobs data.(AFP/DDP/File/Thomas Lohnes)AFP – Europe’s main equity markets rose slightly on Wednesday, the last day of the first quarter, as traders eyed the Easter holiday weekend and upcoming US jobs data.


5-Star Stocks Poised to Pop: Nucor
Market-trouncing returns could be written in these five stars.


Ford, Rite Aid, SAIC, Boeing are big movers (AP)
AP – Stocks that moved substantially or traded heavily Thursday on the New York Stock Exchange and Nasdaq Stock Market:

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• Wednesday, March 31st, 2010

Disney Miramax deadline delayed, parties mull bids
LOS ANGELES (Reuters) – The Weinstein Co, and billionaire brothers Alec and Tom Gores continued to weigh offers on Wednesday for Walt Disney Co’s Miramax unit as the media giant pushed back the bid deadline, according to people with knowledge of the situation.


Financial Stocks: Financials cap strong quarter with slight gain
Financials eked out meager gains on Wednesday as losses in real estate investment trust shares thwarted a rally on the back of strong mortgage insurers. The sector as a whole rose 14% in the first quarter and 10.2% in March.


Lihir Gold rejects $8.4 billion Newcrest bid
Papuan-Australian miner Lihir Gold rejects a $8.4 billion cash-and-stock takeover bid from Newcrest that would have created a gold-mining goliath.


Swiss Readying UBS Client Data For Handover To U.S
The Swiss government said it would continue to process information on U.S. client accounts from UBS in the run-up to a parliamentary vote on a deal to end a high-profile U.S. legal case against the bank.

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• Wednesday, March 31st, 2010

The Richest Companies for Your Portfolio
Some cash-rich winners for you to gobble up.


Can Shale Gas Go Green?
Faced with potential regulatory overkill, I think the industry will clean up its act.


5-Star Stocks Poised to Pop: Cambium Learning
Market-trouncing returns could be written in these five stars.


High-Frequency Traders Confident as CFTC Ramps Up Scrutiny
Big stakeholders in the U.S. futures industry appear confident that its regulator will see the value in high-frequency trading as the regulator ramps up scrutiny of the rapid-fire technique.

Fool Radio: Facebook’s Real Value and 3 Health-Care Stocks on Our Radar


NYSE Euronext Joins Forces with Bloomberg on Market Data Open Symbology
NYSE Euronext will distribute Bloomberg Open Symbology (BSYM) along with NYSE Euronext’s security identifiers for NYSE-listed companies.

These 3 Underdogs Are No Dogs
Like the smart hedge fund operators, these CAPS investors bet against a stock — and won big!


3 Stocks Making Cash
These top stocks have a proven history of generating lots of free cash flow.


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• Wednesday, March 31st, 2010

Energy Stocks: Energy stocks wrap up month, first quarter
Stocks higher on final day of quarter on drillers, firmer crude-oil price.


Global Alumina Releases Year-End 2009 Results
TORONTO, March 31 /PRNewswire-FirstCall/ — Global Alumina Corporation (TSX: GLA.U) (the “Company” or “Global Alumina”), a corporation participating in a joint venture to develop an alumina refinery, mine and associated infrastructure in the bauxite-rich region of the Republic of Guinea (the “Projec

Market Snapshot: Stocks tilt mainly lower after ADP disappoints
U.S. stocks waver on the last trading day of the quarter after private-sector jobs drop more than expected.


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• Wednesday, March 31st, 2010

Canadian dollar up for 2nd day, bonds fall; eyes on GDP (Reuters)
Reuters – The Canadian dollar hit a one-week high against the U.S. dollar on Tuesday, helped by a positive tone in oil and stock markets, but stayed rigidly within recent ranges ahead of monthly economic growth data.

Primerica spin-off set to bolster Citigroup
Citigroup will close a chapter in its troubled history with the spin-off of Primerica, its door-to-door insurance unit, in a move that will raise about $250m and should enable the US bank to move more than $2bn in assets off its balance sheet

SEC asks others if used Lehman accounting gimmick (AP)
AP – The Securities and Exchange Commission is asking the biggest U.S. financial institutions for information on their use of a specific accounting device, as regulators investigate Wall Street’s actions in the run-up to the financial crisis of 2008.

Australia approves in principle 2nd stock exchange (AP)
AP – Australia is ending its stock exchange’s monopoly and has given approval in principle to a unit of Japanese brokerage Nomura to open a second exchange in a move to spur development of the industry, the financial services minister said Wednesday.

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• Tuesday, March 30th, 2010

Oil prices rally as dollar weakens (AFP)

A Shell petrol station in east London. World oil prices rallied, buoyed by the weak dollar, rising stock markets and optimism that upcoming US data will show a solid recovery in the world's biggest energy consuming nation.(AFP/File/Shaun Curry)AFP – World oil prices rallied Monday, buoyed by the weak dollar, rising stock markets and optimism that upcoming US data will show a solid recovery in the world’s biggest energy consuming nation.


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