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Japanese Market, Indian Rupee, China’s Stocks and Oil Prices in Our Daily Round-Up for 05/23/2013

Thu, 05/23/2013 - 05:15 EDT

daily markets round-up

Japanese stock market saw a major increase during the year, but following Fed’s announcement earlier this week. Today the Indian Rupee dropped to its lowest level in 8 months and a half. HSBC’s Flash Manufacturing Purchasing Manager’s Index (PMI) has contracted in May and caused decrease in Chinese manufacturing sector today. Today oil prices decreased to below $94 per barrel.

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IMF calls on Osborne to spend on infrastructure

Thu, 05/23/2013 - 04:08 EDT

In its annual report the International Monetary Fund urgently advised the UK to increase its infrastructure budget to boost the economic recovery of the country, reported Financial Times.

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ICBC/Goldman Sachs: farewell

Wed, 05/22/2013 - 08:10 EDT

Recently Goldman Sach sold its share in Industrial and Commercial Bank of China (ICBC) profiting near three times of its initial investments.

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Japan’s budget deficit, Rolls-Royce, Raytheon and Sony in Our Daily Round-Up for 05/22/2013

Wed, 05/22/2013 - 04:42 EDT

daily markets round-up

Financial reports showed that in April Japan has incurred a trade deficit for a 10th consecutive month. Rolls-Royce has made a deal with Airbus to power 23 of its new planes. Today US Secretary of State John Kerry met with defence ministers in Oman to discuss their intention to buy an air defence system from American manufacturer Raytheon for $2.1 billion. Sony Corp reduced its sale forecasts for digital cameras, smartphones and tablest by 13% to 17% for the fiscal year to end March 2015.

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Apple chief Tim Cook defends tax practices and denies avoidance

Wed, 05/22/2013 - 03:47 EDT

Apple’s CEO Tim Cook publicly defended the company in front of the Senate on allegations that the tech giant has benefited from tax holes and avoided billions of dollars dues, reported Financial Times.

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Did Iceland make it through the crisis?

Tue, 05/21/2013 - 09:15 EDT

Back in the autumn of 2008 when the financial crisis first hit, the US seemed to be the biggest looser, as most of its economy is highly dependent on the stock market, which immediately collapsed. However if we consider European countries we can see that Iceland was actually the first to suffer from the major contraction.

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Marks & Spenser, Bank Loans in China, Vodafone and Asian Stocks in Our News for Today 05/21/2013

Tue, 05/21/2013 - 04:32 EDT

daily markets round-up

Mark & Spencer reported decrease in its yearly profits to their lowest level in four years following decline in clothing sales. In the next three years near 37.5% or 3.49 trillion yuan ($554 billion) of the bank loans in China are maturing, commented Shang Fulin, Chairman of China Banking Regulatory Commission. World’s second largest operator Vodafone announced its quarterly results. Today Asian stock markets declined following news from US Fed and its future monetary policy.

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Actavis to acquire Warner Chilcott in $5bn pharmaceutical deal

Tue, 05/21/2013 - 03:44 EDT

Actavis announced the acquisition of its Dublin-based competitor Warner Chilcott for $5 billion, which will turn it into world’s third biggest generic drug company by market share, reported Financial Times.

The total amount of the deal is $8.5 billion including net debt as well. In the recent months other pharmaceutical giants like Valeant and Mylan made attempts to acquire Actavis as part of the trend of rapid consolidation in the industry.

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Quantative Easing: Not on the long run

Mon, 05/20/2013 - 09:51 EDT

The policy of world’s largest economies of quantitative easing that is purposed to stimulate the fragile market has now started raising questions and concerns over whether it will actually prove successful over the long-term.

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China’s Insurers, PC Shipments, Bird flu Consequences and French taxes in Our Daily Round-Up for 05/20/2013

Mon, 05/20/2013 - 04:36 EDT

daily markets round-up

Insurance companies in China are struggling to retain its revenue levels despite weaker market by improving their services. According to research agency International Data Corporation, India PC shipments have increased by 7.5% to 2.71 million units in Q1 of 2013. Bird flu that appeared earlier in March this year has caused losses to the poultry industry reaching 40 billion yuan, or $6.25 billion. Near 8,000 French families have paid tax bills above 100% on their income in 2012.

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AstraZeneca says to buy Ardea Biosciences for $1.26 bln
Anglo-Swedish drugs giant AstraZeneca on Monday said it had agreed to buy US biotechnology company Ardea Biosciences in a deal worth around $1.26 billion (956 million euros)."AstraZeneca and Ardea Biosciences, Inc. today announced that they have entered into a definitive merger agreement, pursuant to which AstraZeneca will acquire Ardea, a San Diego, California-based biotechnology company focused on the development of small-molecule therapeutics," a statement said.
Ardea Remains Neutral
We are maintaining our Neutral recommendation on Ardea Biosciences Inc. (RDEA) with a target price of $20. Ardea Biosciences, headquartered in San Diego, CA, focuses on the discovery and development of small-molecule therapeutics for the treatment of gout, human immunodeficiency virus (HIV) and cancer. Ardea recently reported disappointing second quarter 2010 results.
DELL Deal Done
With a modest premium over yesterday's closing price (and 25% premium to Jan 11th price), and thanks to a big hand from Microsoft, Michael Dell (and Silver Lake) are taking Dell private.
Molycorp a takeover target? Rare earth player’s low valuation, deposits could spur bids
Molycorp Inc.’s plunge below the value of its net assets is turning the owner of a rare-earth supply that’s unmatched in the Western hemisphere into a takeover target.
Ziopharm Oncology's Global Strategy Provides Potential Upside for Investors
Steven Breazzano submits:ZIOPHARM Oncology (Nasdaq: ZIOP) – with operations based in Boston, MA (and an executive office in New York, NY) engages in the development and commercialization of a small molecule cancer therapeutics portfolio. Despite no major upcoming catalyst date, I decided to take a closer look when I read the company is using variations of mustard gas and arsenic
SEC Charges Heinz Call Buyers With Insider Trading
Yesterday, after the news of the Heinz acquisition hit the market just in time to wipe away the bitter aftertaste of the biggest GDP drop in Europe since 2009, we brought you the undisputed fact that someone made nearly $2 million in call options, which soared 1700% overnight and was bought the day before.
5 Pharmaceutical Companies With Phase III Clinical Study Catalysts This Year - Part II
By Markus Aarnio:Pharmaceutical companies with a set Phase III data release date usually have a run-up leading into the release date. I usually try to buy the stocks 3-9 months before the catalyst date to make profit from the run-up. I screened for companies that have a Phase III data release date set for this year.
Human Genome Sciences - Investors Are Speculating On A Higher Bid
By Robert Broens: Shares of Human Genome Sciences (HGSI) almost doubled today after GlaxoSmithKline made a $13 offer for the company. Shares ended the day 98% higher to close at $14.17
Four High Yield Drug Stocks With Upside Potential
Rougemont submits: As more signs appear that inflation is rising globally, it makes sense to look at drug stocks that have historically done well in times like this. The major drug stocks listed below offer a generous dividend yield of about 5% and they all have low PE ratios. The dividends are very attractive and can rise in time along with inflation. The valuations on these stocks could also rise and investors will be paid to wait while collecting regular dividends.
Wall Street Breakfast: Must-Know News