Monthly Archives: September 2012
PSTI +14.6%, GWRE +13.1%, DG +7%, PBY +4.6%, FB +2.7%, SRPT +2.5%,
RYAAY +2%, HIG +0.8%, NVS +0.8%, GPOR +0.7%, GDOT +10.6%, UBS +1.5%,
ARO +1.4%, LLY +0.6% ,
URRE -7%, FRAN -4.9%, BLMN -4.8%, TGP -3.9%, BP -3.9%, NS -3.7%, RPRX -3%,
FDX -2.9%, MT -2.8%, BHP -2.7%, DCT -2.6%, NOK -2.5%, UPS -2.3%, CLF -2%,
COF -1.8%, TOT -1.7%, FNSR -1.6%, FTE -1.3%, LYB -0.4%, STM -4.3% , CAH -1%,
PT -2.8%Comments »
“BEIJING—The U.S. Securities and Exchange Commission charged China Sky One Medical Inc. with falsely inflating its earnings, a rare action by the regulator almost two years after doubts about the accuracy of disclosures by small Chinese firms sent U.S. investors fleeing their stocks.
In a statement published on its website Tuesday, the SEC said that Sky One Medical, which makes Chinese medicine and was once listed on the Nasdaq Stock Market, created about $19.8 million worth of phony export sales over the course of 2007 and 2008.”Comments »
The world’s largest air-cargo shipper by revenue said earnings in the August-ended quarter came in below its already reduced expectations. FedEx shares fell 3.1% to $84.85 in after-hours trading, with rival United Parcel Service Inc. UPS -0.15% down 1.9% at $72.31.
“It looks bad,” said David Vernon, an analyst at Sanford C. Bernstein & Co. He said the global economy has decelerated faster than even FedEx anticipated.”Comments »
“(Reuters) – The U.S. Justice Department is ramping up its rhetoric against BP PLC for the massive 2010 oil spill in the Gulf of Mexico, describing in new court papers examples of what it calls “gross negligence and willful misconduct.”
The court filing is the sharpest position yet taken by the U.S. government as it seeks to hold the British oil giant largely responsible for the largest oil spill in U.S. history.”Comments »
“Chinese iron ore inventory continued to grow at 25 major ports in the week ending September 3, according to the latest iron ore price report from Chinese state news agency Xinhua.
Inventories of imported iron ore rose by 1.86 million tonnes to 102.53 million tonnes.
Xinhua said the iron ore market will continue to be oversupplied in the near-term and that “the downward trend seems irreversible”.Comments »
“The price of oil drifted below $95 on Wednesday, giving up early gains that came on the heels of a report showing U.S. vehicle sales rising sharply last month.
By early afternoon in Europe, benchmark crude for October delivery was down 38 cents at $94.92 a barrel in electronic trading on the New York Mercantile Exchange. The contract fell $1.17 to close at $95.30 per barrel on the Nymex on Tuesday.
In London, Brent crude was down 67 cents at $113.61 on the ICE Futures exchange.”Comments »
“ING Groep NV (INGA) will sell a stake of more than 9 percent in Capital One Financial Corp. that the biggest Dutch financial-services firm acquired in the sale of its U.S. online bank this year.
Bank of America Corp. (BAC), Morgan Stanley (MS) and Citigroup Inc. (C) will jointly manage the public offering of about 54 million shares, McLean, Virginia-based Capital One said in a statement yesterday. Pricing is expected before regular trading opens today in New York, with settlement on Sept. 10, ING said in a separate statement.”Comments »
“European retail sales dropped in July as the region’s deepening economic slump eroded consumer demand from Germany to Spain.
Sales slipped 0.2 percent from June, when they rose 0.1 percent, the European Union’s statistics office in Luxembourg said today. Economists had forecast a decline of 0.2 percent, according to the median of 21 estimates in a Bloomberg News survey. From a year earlier,sales dropped 1.7 percent.
In Germany, Europe’s largest economy, retail sales fell 0.9 percent from June, when they gained 0.5 percent, today’s report showed. France reported a gain of 0.9 percent, while sales fell 1.9 percent in Spain.”Comments »
“European Central Bank President Mario Draghi’s bond-buying proposal involves unlimited purchases of government debt that will be sterilized to assuage concerns about printing money, two central bank officials briefed on the plan said.
Under the blueprint, which may be called “Monetary Outright Transactions,” the ECB would refrain from setting a public cap on yields, according to the people, and a third official, who spoke on condition of anonymity. The plan will only focus on government bonds rather than a broader range of assets and will target short-dated maturities of up to about three years, two of the people said.”Comments »