Feb 25, 2010

Daily Markets - Financial News And Opinions

Daily Markets - Financial News And Opinions

What’s Driving The Prices Of Platinum And Palladium?

Posted: 25 Feb 2010 05:50 PM PST

Even before the platinum and palladium exchange traded funds (ETFs) came along this year, the metals were strongly in demand for uses in industry and jewelry. The new funds could help usher in a new climate of resilience in the metals’ prices.

Investors are all over platinum these days; coupled with improving industrial demand and a tight mining supply, and it’s a recipe for a potentially long-term uptrend:

South Africa’s mines are responsible for 80% of the world’s platinum output; … [visit site to read more]


Stock Market Valuations - Fairly Valued For February 2010

Posted: 25 Feb 2010 05:01 PM PST

I am updating market valuations now on a monthly basis. I am trying to use data to conclude whether the market is overvalued or undervalued. I decided to use the end of every month as the day to date my data from and to post my article. This month I will have to post a few days early due to time constraints.

To see my previous market valuation article click here

The content will be mostly the same. I will be mostly updating the numbers, and the commentary as to what level the market … [visit site to read more]

Forex Trading: U.K. Facing Major Economic Problems

Posted: 25 Feb 2010 04:06 PM PST

Sovereign debt issues in Greece and a poor jobs report in the U.S. helped the Dollar finish better against most major currencies. Throughout the day, investors seeking a safe harbor supported the Greenback. Early in the session the Dollar got a boost when rumors spread that the S&P Corp. was considering a cut in Greece’s debt rating. Shortly after the New York session opening, news that Weekly U.S. Jobless Claims rose unexpectedly triggered another strong rally in the Dollar.
The GBP USD … [visit site to read more]

Greek Financial Crisis To Result In Social Instability

Posted: 25 Feb 2010 04:01 PM PST

I would equate the forces at work underlying our global economy akin to shifts in the earth’s tectonic plates. There is no doubt that we experienced a sizable financial earthquake in 2008. The question now begs whether that seismic shock was the culmination of events or merely the precursor for greater political and social shocks over the next period of years.

We see evidence of further tectonic slippage and resulting instability out of the Euro-zone overnight as rating agencies are … [visit site to read more]

Depression Causes A Shift In Economic Models

Posted: 25 Feb 2010 04:00 PM PST

This afternoon, your editor's aging aunt called from Pennsylvania.
"This economy has been very hard on my family," she explained. "I've got two sons-in-law…and they're both laid off from their jobs."
"What do they do?" we wondered.
"One drives a truck for a steel producer. The other is in construction. There's just not much work, I guess."
Nope.
And that's why, despite all the recovery talk, real people are turning real gloomy. Consumer confidence just registered its … [visit site to read more]

King Misses By A Penny

Posted: 25 Feb 2010 03:26 PM PST

King Pharmaceuticals, Inc. (NYSE:KG) reported fourth-quarter earnings of 23 cents per share, a penny below the Zacks Consensus Estimate. Despite fourth quarter revenues increasing 26.1% from the year-ago period, earnings declined 20.6% from the year-ago quarter, mainly due to higher operating expenses.
Full-year earnings, which came in a couple of cents above the Zacks Consensus Estimate at $1.10, declined 28.6% from the year-ago period. Meanwhile, full-year revenues increased 14% to $1.78 … [visit site to read more]

Liberty Global Outperforms

Posted: 25 Feb 2010 03:20 PM PST

Yesterday, after market close, Liberty Global Inc. (NASDAQ:LBTYA) declared better-than-expected financial results for the fourth quarter of 2009. Quarterly GAAP net income was $100 million, or 34 cents per share, compared to a net loss of $862.6 million, or $2.60 per share, in the prior-year quarter. Fourth-quarter EPS of 34 cents was significantly above the Zacks Consensus Estimate of 11 cents. This was primarily due to higher tax benefits and favorable foreign currency exchange rates.
Quarterly … [visit site to read more]

Tales Of The Unexpected?

Posted: 25 Feb 2010 03:16 PM PST

Is it me, or do recent economic reports have something in common (italics mine)?

“U.S. Jobless Claims Rise Unexpectedly” (Associated Press)

The number of newly laid-off workers filing applications for unemployment benefits in the U.S. unexpectedly surged last week after having fallen sharply in the previous week. The gain dampened hopes about how quickly the labor market may improve this year.

“U.S. Economy: Equipment Demand Slows to Start 2010″ (Bloomberg)

Orders for durable goods … [visit site to read more]

Forex Trading: Accelerated Bearish Trend In GBP/USD

Posted: 25 Feb 2010 03:11 PM PST

Bearish price action on GBP/USD, a daily chart of which is shown, has broken below key support in the 1.5350 price region to establish a new 9-month low and, in the process, tentatively dropped below the bottom border of a parallel downtrend channel that has been in place since the November highs. Currently, the bearishness has approached a key 161.8% Fibonacci extension (of the prior bearish run from 11/16/2009 to 12/30/2009) which resides just above the 1.5200 price region.

Further … [visit site to read more]

Cartoon: Toyota In Washington

Posted: 25 Feb 2010 03:01 PM PST

Source: Jim Morin, Slate.com, February 24, … [visit site to read more]

Persistent Debts Despite The Printing Press

Posted: 25 Feb 2010 03:00 PM PST

The proverbial boogeyman, the phrase "end of the world as we know it", is not particularly significant to me because it is, literally, always true, because any progress at all, anywhere, means that tomorrow will never be like today, and so "the end of the world as we know it" can be extended to mean "and it will be better and better!"
So, it is not very significant, especially when I get argumentative by being literal and obtuse about it, like now, which is my mood lately.
But when … [visit site to read more]

MetroPCS Exceeds Expectations

Posted: 25 Feb 2010 02:52 PM PST

Leading unlimited wireless carrier MetroPCS Communications (NYSE:PCS) reported better-than-expected fourth-quarter 2009 results with earnings per share (EPS) of 9 cents, exceeding the Zacks Consensus Estimate of 6 cents as well as the prior-year quarter EPS of 4 cents.
Net income soared 127% year-over-year to $33.1 million, driven by healthy revenue growth and subscriber accretions across all segments. For full year 2009, net income climbed 18% to $176.8 million or 49 cents a share, also beating … [visit site to read more]

Daily ETF Roundup: GDX Jumps, UNG Slides

Posted: 25 Feb 2010 02:22 PM PST

U.S. markets continued to take their cues from Europe on Thursday, as fresh concerns about Greece's financial mess weighed on Wall Street. Domestic jobs data did little to create a bullish mentality among investors, as the Labor Department announced that weekly jobless claims unexpectedly jumped by 22,000 last week. Economists had been expecting a decline of 13,000. Elsewhere, a long-anticipated bipartisan health care summit featured some sharp clashes between Democrats and Republicans.
The … [visit site to read more]

Madoff Investors Sue SIPC = Main St. Sues Wall St.

Posted: 25 Feb 2010 02:11 PM PST

I highlighted yesterday the fact that Madoff investors planned to sue SIPC. Further details on this suit are in a press release today. I view this lawsuit as nothing short of Main Street suing Wall Street.

Game on!!

MADOFF VICTIMS SUE SIPC DIRECTORS FOR PERPETRATING MASSIVE INVESTMENT INSURANCE FRAUD AGAINST AMERICAN INVESTORS
Suit charges SIPC fraudulently induced Madoff investors to believe they had up to $500,000 insurance coverage on securities and seeks compensatory and … [visit site to read more]

Video: NYSE Closing Bell Market Monitor: KO, RBS, MYL

Posted: 25 Feb 2010 02:07 PM PST

The latest in news, commentary, and information on what’s moving the US equities markets. Watch this broadcast LIVE at 4:00 pm EST daily @ “http://www.nyx.com/marketmonitor” … [visit site to read more]

Video: Crude Tumbles On Weak Equities

Posted: 25 Feb 2010 02:04 PM PST

Front month crude prices took a dive this session following weak equity market performance and a stronger US dollar. … [visit site to read more]

Kurds Push For Oil Law With Baghdad Amid South’s Sudden Bright Future

Posted: 25 Feb 2010 02:01 PM PST

While the Iraqi government has made overtures to its Kurdish counterpart in the north to end an oil standoff, much remains in doubt without an actual law keeping the industry in check - rules which this time the Kurds are pressing for rather than Baghdad.

For a long time, the northern Kurdistan region was seen as the most attractive oil market in the country but the latest bid rounds in December and subsequent contract signings in the south have made it suddenly “less clear that … [visit site to read more]

Is China More Capitalist Than The US?

Posted: 25 Feb 2010 02:00 PM PST

The markets were atwitter this morning over Greece. But chances are you already know that. It's China we have on the brain.
And so does Joe Six-pack. ABC News and The Washington Post just polled 1,000 Americans and found…

41% say the 21st century will be the "Chinese Century"
40% say it will still be an "American Century"
A slim majority says the US will play a smaller role in the world economy this century
But a majority also says that will be either a good thing or, at worst, … [visit site to read more]

PXP Surges On Lower Costs

Posted: 25 Feb 2010 01:44 PM PST

Plains Exploration & Production Company (NYSE:PXP) posted fourth-quarter earnings of $1.37 per share, substantially higher than the Zacks Consensus Estimate of 61 cents and the year-ago loss of 19 cents.
For the full year 2009, the company reported operating earnings of $5.40, beating the Zacks Consensus Estimate of $4.39 and last year’s earnings of $4.89. The better-than-expected results were driven by its strong production with lower operational and administrative costs, and effective … [visit site to read more]

Five ETFs For A Tumbling Euro

Posted: 25 Feb 2010 01:42 PM PST

With continued worries over budget crises in the "PIIGS" (Portugal, Italy, Ireland, Greece, and Spain) and their rapidly deteriorating fiscal conditions, the future of the euro zone's common currency has been called into question. Most of attention has focused on Greece, where double digit budget deficits threaten to grind the government to a halt and spread throughout the region. While some are pushing for a Greek bailout, others worry about the signal this action might send to other … [visit site to read more]

TRW Auto Zooms Past Estimates

Posted: 25 Feb 2010 01:35 PM PST

TRW Automotive Holdings Corp. (NYSE:TRW) reported a profit of $168 million, or $1.40 per share, in the fourth quarter of 2009. The result marks a sharp contrast to a loss of $74 million, or 73 cents per share, in the prior-year period. The profit was also significantly better than the Zacks Consensus Estimate of 73 cents per share.
The improvement was driven primarily by a positive impact from the higher level of sales – especially in Europe and the rest of world. Other contributing factors … [visit site to read more]

Coca Cola To Buy Its Biggest Bottler

Posted: 25 Feb 2010 01:27 PM PST

The Coca Cola Company (NYSE:KO) intends to buy the North American operations of its biggest bottler, Coca Cola Enterprises (NYSE:CCE). Although the exact value of the deal is not yet finalized, the transaction is expected to be valued at approximately $15 million, including debt.
This move by Coca Cola follows a similar deal signed by its biggest rival PepsiCo (NYSE:PEP), who aims to close the acquisition of its two biggest bottlers, Pepsi Bottling Group Inc. (NYSE:PBG) and Pepsi Americas Inc. this week. … [visit site to read more]

The Best Banks In North America Probably Aren’t Where You Think

Posted: 25 Feb 2010 01:12 PM PST

At the turn of the century, U.S. banks like Citigroup (NYSE:C), Wells Fargo (NYSE:WFC), and Bank of New York Mellon (NYSE:BK) dominated the list of the world's highest-valued banks.
Of course though, the financial crisis and resulting recession altered all that. So by the end of the decade, that pecking order changed… a lot. Suddenly, a slew of Chinese and Brazilian banks had made the cut. For that matter, so had several Canadian financials, including the Royal Bank of Canada (NYSE:RY) and the Bank of … [visit site to read more]

On Display In The UK: The Failure Of Keynesian Economics

Posted: 25 Feb 2010 01:00 PM PST

The very birthplace of John Maynard Keynes, the United Kingdom, has become a petri dish in which to test his every economic prescription in a time of financial crisis. With a large and growing budget deficit, a declining pound, and accelerating inflation, the UK has been scrambling for a cure. And, for the most part, as in the US and elsewhere, the nation's leadership has been looking to Keynes' theories for guidance.
From a Bloomberg commentary by Matthew Lynn:
"Britain has been … [visit site to read more]

SIRIUS XM Beats In 4Q

Posted: 25 Feb 2010 12:43 PM PST

SIRIUS XM Radio Inc. (NASDAQ:SIRI) reported better-than-expected fourth-quarter 2009 financial results. Quarterly revenue of $676.2 million was an improvement of 8.7% year-over-year and also better than the Zacks Consensus Estimate of $658 million. This was primarily due to the sale of “Best of” programming, rate increases to the company’s multi-subscription and Internet packages, and the U.S. Music Royalty Fee introduced in the previous quarter.
Quarterly net income was $14.2 million or break-even … [visit site to read more]

Salesforce Revenue Grows, EPS Exceeds

Posted: 25 Feb 2010 12:27 PM PST

Salesforce.com (NYSE:CRM) reported fourth-quarter EPS of 16 cents, which exceeded the Zacks Consensus Estimate of 15 cents.
Revenue
Revenue for the fourth quarter was $354.0 million, an increase of 22.2% from $289.6 million in the year-ago quarter. This exceeded the company’s guidance range of $340.0 million to $342.0 million. The increase in revenue may be attributed to better performances from the Sales Cloud, Service Cloud and Custom Cloud segments, driven by higher volumes.
Subscription & … [visit site to read more]

Magna Badly Misses Consensus

Posted: 25 Feb 2010 12:01 PM PST

Magna International, Inc. (NYSE:MGA) has reported a loss of $5 million or 5 cents per share (before special items) in the fourth quarter of 2009, in stark contrast to the Zacks Consensus Estimate of a profit of 78 cents per share.
However, the loss was narrow compared to $76 million or 68 cents in the year-ago quarter. This was attributable to increased vehicle sales driven by improved consumer confidence and various stimulus programs by the governments to churn auto sales.
Sales in the quarter … [visit site to read more]

Emerging Markets Are Still A Buy

Posted: 25 Feb 2010 12:00 PM PST

Oranges were once expensive luxuries in northern climes. "In 1916," Paul Fussell writes in Abroad, "oranges, like other exotic things that had to travel by sea, were excessively rare in England. If you could find them at all, they cost the shocking sum of 5d each."
Today, we take for granted that we can eat apples and oranges and bananas all year round if we choose. It doesn't matter where you live. We can eat strawberries in the dead of winter. In fact, we routinely enjoy goods that … [visit site to read more]

VeriFone Wins Sberbank Order

Posted: 25 Feb 2010 11:48 AM PST

VeriFone Holdings Inc. (NYSE:PAY) announced that the company received a multimillion-dollar order for its payment solutions by Sberbank, Russia's largest bank.
Sberbank, which ultimately intends to distribute approximately 130,000 payment solutions among merchants, has selected VeriFone as its leading vendor. The bank will utilize VeriFone's countertop and wireless payment solutions, as well as PIN pads.
Meanwhile, VeriFone is expected to report first quarter 2010 results on March 2, 2010. … [visit site to read more]

TriQuint Tops Expectations

Posted: 25 Feb 2010 11:36 AM PST

TriQuint Semiconductor Inc. (NASDAQ:TQNT) reported revenues of $193.3 million in the fourth quarter of 2009, up 12% sequentially and up 30% year-over-year. Revenues grew from all end markets. In particular, Mobile Devices grew 55% year over year and 15% sequentially. Defense & Aerospace grew 15% year over year.
The results beat management's updated guidance of revenues around $190 million, provided in January 2010. Gross margin came in at 38.4%, up from 35.0% in the prior quarter and 31.7% in … [visit site to read more]

Direxion Launches Leveraged Short Term Treasury ETFs (TWOL, TWOZ)

Posted: 25 Feb 2010 11:15 AM PST

Direxion announced the expansion of its fixed income product line on Thursday with the launch of two leveraged ETFs targeting a short-term Treasury index. The Direxion Daily 2-Year Treasury Bull 3x Shares (TWOL) seeks 300% of the daily performance of the NYSE Arca Current 2-Year U.S. Treasury Index, a benchmark that consists of the most recently issued 2-year U.S. Treasury notes. The Daily 2-Year Treasury Bear 3x Shares (TWOZ) seeks 300% of the inverse of the daily performance of the same … [visit site to read more]

Video: Nintendo’s New DSi XL To Also Serve As An EBook Reader

Posted: 25 Feb 2010 11:15 AM PST

Nintendo’s new DSi XL handheld console is now reported to have the capability of functioning as an eBook reader. … [visit site to read more]

Dr Pepper Beats Estimates

Posted: 25 Feb 2010 11:15 AM PST

Dr Pepper Snapple Group Inc. (NYSE:DPS) reported strong fourth-quarter 2009 earnings of 44 cents per share. Earnings were 4 cents above the Zacks Consensus Estimate and were up compared to a loss of $2.44 per share in the prior-year period.
Net sales declined 1.5% year-over-year to $1.3 billion, as concentrate price increases taken earlier in the year, combined with 4% growth in sales volume, were fully offset by the loss of certain contract manufacturing and negative mix from higher sales of … [visit site to read more]

Forex Trading: GBPUSD Tests 100 Bar MA For The 4th Time

Posted: 25 Feb 2010 11:12 AM PST

Support comes in at 1.5242 now. The 100 bar MA comes in at 1.5261. The 100 bar MA was tested - breaking above briefly. This is the 4th time tested.  Will be watching the 1.5242 level now for support.  If the level can hold, there could be another test above at the key MA level.  Watching closely as the market … [visit site to read more]

Safeway Reports In-line

Posted: 25 Feb 2010 11:01 AM PST

Safeway Inc. (NYSE:SWY) reported fourth quarter earnings of 53 cents per share, meeting the Zacks Consensus Estimate. However, earnings were down 33% from 79 cents in the prior-year period.

After considering a goodwill impairment charge, the company had a loss of $4.06 per share during the reported quarter. For the full year 2009, Safeway's earnings came in at $1.74 compared to $2.21 in 2008.
Safeway recorded a year-over-year decline of 8.1% in sales to $12.7 billion in the quarter primarily … [visit site to read more]

How Long Can The Copper ETN Sustain Its Rally?

Posted: 25 Feb 2010 11:01 AM PST

The copper exchange traded note (ETN) has had a nice ride in the last two weeks, but how long can it keep this up? On the one hand, we’ve had assurances that the economic recovery is on track; on the other are those dismal new home sales numbers.
Speculation that demand will increase for copper used for pipes and wires and dip in the dollar boosted copper prices for the week ending on Feb. 19, reports Millie Munshi for BusinessWeek. Copper futures for May delivery had their largest weekly gain … [visit site to read more]

Discovering Recovery In Wall Street And Washington

Posted: 25 Feb 2010 11:00 AM PST

The recession is over. Everyone says so. Well, not everyone actually…just economists…especially economists from Wall Street and Washington.
In a research note entitled, "Return to Normalcy," John Silvia, Chief Economist at Wachovia, gushes, "With the war against the Great Recession over, our newly reappointed head of the Federal Reserve now seeks to take us back to normalcy in the financial markets. Let's trust that he too ushers in a decade of prosperity.
"After World War I," … [visit site to read more]

Mylan Beats, Outlook Robust

Posted: 25 Feb 2010 10:46 AM PST

Mylan (NYSE:MYL) reported fourth quarter earnings per share (EPS) of 33 cents, surpassing the Zacks Consensus Estimate of 30 cents and 26 cents in the prior-year period. For the full year 2009, EPS came in at $1.30, up 62.5% from 80 cents in 2008.
Mylan reported revenues of $1.35 billion, a 12% increase compared to $1.20 billion in the year-ago period. Revenues were favorably impacted by the foreign currency translation. For the full year, the company recorded $5.09 billion in sales, marginally … [visit site to read more]

Heinz Reports Strong 3rd Quarter

Posted: 25 Feb 2010 10:30 AM PST

H.J. Heinz Company (NYSE:HNZ) reported strong results for the fiscal third quarter of 2010 with earnings of 83 cents per share. Earnings were well above the Zacks Consensus Estimate of 64 cents, and were up 9.2% year over year.
Quarterly net sales increased 12.7% year over year to $2.68 billion, primarily attributable to a 6.9% favorable impact from foreign exchange translation and a 2.9% benefit from acquisitions. Volumes grew 1.2% year-over-year and pricing also contributed favorably to the top … [visit site to read more]

Less Than It Seems

Posted: 25 Feb 2010 10:23 AM PST

This morning, the Census Bureau reported the latest data on new orders for durable goods. As usual, all eyes were on the ex-transportation component, which unexpectely fell 0.6 percent in January, sending economists scurrying to figure out why the economy is not doing what they said it will.
Admittedly, month-to-month changes don’t tell a whole lot. After looking through the data going back several years, however, one trend seems to stand out: the growing impact of public spending on the … [visit site to read more]

Video: Risk Aversion Strengthens On Data & Greece

Posted: 25 Feb 2010 10:18 AM PST

Risk aversion continued to rise this session following weak jobless claims figures and groing concerns that Greece may lower its credit rating. … [visit site to read more]

China’s Patience Is Wearing Thin Over US Arms Sale To Taiwan

Posted: 25 Feb 2010 10:15 AM PST

China has apparently noticed the tiny $6.4 billion military equipment deal the US recently inked with Taiwan. Unsurprisingly, it's not happy about it. The Pentagon informed Congress about the transaction knowing full well it would upset the Chinese government and could spur retaliation.
From The Washington Post:
"'The U.S. side bears full responsibility for the current difficulties in exchanges between the Chinese and U.S. militaries,' [Defense Ministry spokesman] Huang [Xueping] … [visit site to read more]

Align Tech Holds At Neutral

Posted: 25 Feb 2010 10:14 AM PST

We recently reiterated our Neutral rating on Align Technology, Inc. (NASDAQ:ALGN) with a target price of $18.50 based on a P/E of approximately 34.3x our fiscal 2010 EPS estimate of 54 cents.
 
Align reported strong financial results for the fourth quarter and full fiscal 2009. In the fourth quarter, earnings per share was 15 cents, surpassing the Zacks Consensus Estimate of 9 cents and the year-ago earnings of 7 cents. In fiscal 2009, earnings per share were 41 cents, compared to 32 cents, a … [visit site to read more]

Video: Market Movers: CCE, KO, DPS, GME, NKE, BIG

Posted: 25 Feb 2010 10:13 AM PST

The latest news and information on U.S. stocks that are moving the market. … [visit site to read more]

Wireless Medicine: The Most Important Healthcare Revolution For The Next 20 Years

Posted: 25 Feb 2010 10:04 AM PST

Thursday, February 25, 2010: Issue #1204
I'm always on the hunt for the next trillion-dollar mega trends – and the companies that will benefit the most from them.
And as American Idol judge Randy Jackson likes to say, "We've got another hot one, America!"
In terms of innovation, I'm not exaggerating when I say that this one ranks right up there with other life-changers like the personal computer, mobile phones, e-mail, DNA testing and sequencing, even the Internet.
It will … [visit site to read more]

Ways To Play The Auto Demand Upswing

Posted: 25 Feb 2010 10:01 AM PST

Shares in the auto industry have been among the leading performers over the past year with the Dow Jones US Automobiles & Parts Index advancing 140%.

Given the massive run-up in auto equities, is there money still to be made in these stocks?

Yes. While easy money has been made in auto shares anticipating a recovery, more can be earned.

Looking at global auto demand picture first …

In recent months, U. S. auto sales have recovered to around 11 million units on an annualized … [visit site to read more]

A Real Economic Phenomenon

Posted: 25 Feb 2010 10:00 AM PST

The depression is alive and well, thank you.
The Dow rose 91 points yesterday. Gold fell $6.
Officially, the crisis is over. Everyone says so. Central bankers and Treasury officials have been congratulating themselves. It's been a year now since the end of the world didn't happen. These fellows take credit for it.
Bernanke said yesterday that he'll keep the monetary spigots wide open for a while longer…but that's just because the recovery is fragile. He also talks of an 'exit' … [visit site to read more]

Hawaiian Electric Gets Green Signal

Posted: 25 Feb 2010 09:57 AM PST

Hawaiian Electric Industries Inc. (NYSE:HE) received approval from Hawaii Public Utilities Commission (PUC) to adopt a new “decoupling” method for setting electric rates designed to encourage a clean energy economy for Hawaii.
 
Under the new “decoupling” method, electric revenues would be de-linked, or “decoupled,” from the electricity (kilowatt-hours) sold. The decoupling proposal was submitted jointly by the Hawaii Division of Consumer Advocacy and the Hawaiian Electric utilities … [visit site to read more]

MetLife Seeks $5B Loan For ALICO

Posted: 25 Feb 2010 09:41 AM PST

On Feb 23, 2010, Bloomberg reported that MetLife Inc. (NYSE:MET) is looking for a $5 billion loan in order to complete the long pending acquisition of American International Group Inc.'s (NYSE:AIG) American Life Insurance Co. (ALICO) unit. For this, MetLife has already solicited some firms, namely, Bank of America Corp. (NYSE:BAC), JPMorgan Chase & Co. (NYSE:JPM), Deutsche Bank AG (NYSE:DB), Credit Suisse Group AG (NYSE:CS) and HSBC Holdings Plc (NYSE:HBC) to tender pledges for a bridge term loan of $5 … [visit site to read more]

Merge Arranges Funds

Posted: 25 Feb 2010 09:25 AM PST

Merge Healthcare Inc. (NASDAQ:MRGE) recently arranged funds for financing its proposed acquisition of AMICAS, Inc. (NASDAQ:AMCS) by signing an agreement with a division of Morgan Stanley (NYSE:MS). Per the agreement, Morgan Stanley has decided to offer $200 million of bridge financing to Merge for the proposed acquisition.
The AMICAS acquisition is valued at $6.05 cash per share for an aggregate of $248 million. Merge has established an account with $40 million of pre-funded proceeds from its mezzanine … [visit site to read more]

Tata Motors & The Nano: Why “That Little Car In India” Is Loaded With Big Profits

Posted: 25 Feb 2010 09:19 AM PST

Open up your web browser and go to Google.
Punch in "that little car in India."
What you'll see is a long list of stories about the Nano – a car manufactured by Indian automaker, Tata Motors (NYSE:TTM). When the company first launched it back in 2008, it generated a significant buzz.
That buzz increased to a roar when the car hit the market last year. And it's easy to see why…

The ultra-compact car is just 10 feet long and five feet wide – perfect for city-dwellers who need to find … [visit site to read more]

Singapore Stock Market Update For Thursday 25 February

Posted: 24 Feb 2010 05:37 PM PST

Morning Highlights
There Are No Quick Picks For Today

U.S. stocks rose, marking the biggest gain in more than a week on the Standard & Poor's 500 Index, after U.S. Federal Reserve Chairman’s reassurance that interest rates will stay low for some time.
Singapore stocks finding support from strength on Wall Street, headed higher with the STI opened up at 2774.09.

Marina Bay Sands integrated resort to open in phases from Apr 27 (Yahoo News)

Sembcorp Marine resistance at 3.75 (Short at … [visit site to read more]
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