The following is a list of companies whose shares may have unusual price changes in Canadian markets. Symbols are in parentheses after company names and prices are from the last close.
The Standard & Poor's/TSX Composite Index rose 263.03, or 2 percent, to 13,632.15.
Canadian Pacific Railway Ltd. (CP CN): Debt for the country's second-largest railroad was cut to the lowest investment-grade rating by Moody's Investors Service, which cited the carrier's pending purchase of the Dakota, Minnesota & Eastern Railroad Corp. Canadian Pacific added $1.50 to $64.75.
Quebecor Inc. (QBR/B CN): Canada's government will block the country's largest phone companies from buying some airwaves in a planned auction next year, setting them aside for new wireless carriers to foster competition. The government will permit Quebecor Inc. and companies that have less than 10 percent of the national wireless market to bid on an exclusive 40-megahertz block of airwaves. Quebecor added 12 cents to C$37.06.
microcapinvest.com
четверг, 29 ноября 2007 г.
Braskem, Cicsa, Endesa, Geo, Masisa, Tam: Latin Equity Preview
The following stocks may make significant gains or losses in Latin American markets today. Symbols are in parentheses after company names, and stock prices are from the last session.
The Morgan Stanley Capital International index of Latin American shares rose 5.9 percent to 4,243.88 yesterday.
In Brazil, preferred shares are the most commonly traded class of stock.
Brazil
Banestes SA Banco do Estado do Espirito Santo (BEES3 BS): The bank controlled by the state government of Espirito Santo plans to sell non-voting shares in an additional offering. The bank will sell new shares and the state government will sell a minority stake of existing shares, according to a filing posted yesterday on Brazil's securities regulator Web site. Banestes didn't disclose the amount or price of preferred shares that it plans to sell. The Vitoria, Brazil-based bank fell 16 centavos, or 10 percent, to 1.42 reais.
Braskem SA (BRKM5 BS): Latin America's biggest petrochemical company was given a new Ba1 rating by Moody's Investors Services, one level below investment grade. Sao Paulo- based Braskem has ``moderate pricing power'' for its products and ``above industry average'' margins, the ratings company wrote in a statement distributed yesterday. Braskem rose 68 centavos, or 4.8 percent, to 14.79 reais.
TAM SA (TAMM4 BS): Chief Executive Marco Bologna stepped down yesterday and will be replaced by David Barioni Neto as head of Brazil's biggest airline by market share. Barioni, who was hired away from rival Gol Linhas Aereas Inteligentes SA this year, was formerly the vice president of operations of TAM, the company said in a statement distributed yesterday by PR Newswire. TAM rose 2.04 reais, or 4.3 percent, to 49.53 reais.
microcapinvest.com
The Morgan Stanley Capital International index of Latin American shares rose 5.9 percent to 4,243.88 yesterday.
In Brazil, preferred shares are the most commonly traded class of stock.
Brazil
Banestes SA Banco do Estado do Espirito Santo (BEES3 BS): The bank controlled by the state government of Espirito Santo plans to sell non-voting shares in an additional offering. The bank will sell new shares and the state government will sell a minority stake of existing shares, according to a filing posted yesterday on Brazil's securities regulator Web site. Banestes didn't disclose the amount or price of preferred shares that it plans to sell. The Vitoria, Brazil-based bank fell 16 centavos, or 10 percent, to 1.42 reais.
Braskem SA (BRKM5 BS): Latin America's biggest petrochemical company was given a new Ba1 rating by Moody's Investors Services, one level below investment grade. Sao Paulo- based Braskem has ``moderate pricing power'' for its products and ``above industry average'' margins, the ratings company wrote in a statement distributed yesterday. Braskem rose 68 centavos, or 4.8 percent, to 14.79 reais.
TAM SA (TAMM4 BS): Chief Executive Marco Bologna stepped down yesterday and will be replaced by David Barioni Neto as head of Brazil's biggest airline by market share. Barioni, who was hired away from rival Gol Linhas Aereas Inteligentes SA this year, was formerly the vice president of operations of TAM, the company said in a statement distributed yesterday by PR Newswire. TAM rose 2.04 reais, or 4.3 percent, to 49.53 reais.
microcapinvest.com
пятница, 23 ноября 2007 г.
Gryphon, Medoro, StrataGold, TransCanada: Canada Equity Preview
The following is a list of companies whose shares may have unusual price changes in Canada. Stock symbols are in parentheses after company names and prices are from the last close in Toronto.
The Standard & Poor's/TSX Composite Index climbed 100.42, or 0.8 percent, to 13,381.
Gryphon Gold Corp. (GGN CN): The explorer for gold in the U.S. said it raised C$2.6 million through the sale of 3.25 million units, consisting of one share and a purchase warrant for another share, at a price of 80 cents apiece. The company expects to sell another 3.5 million units by Dec. 15. In its statement, carried on Market Wire, Gryphon did not name the buyers in the private sale. The shares fell 1 cent to 74 cents.
Medoro Resources Ltd. (MRS CN): The company, which explores for gold on the Italian island of Sardinia, said it raised C$2.25 million by selling equity to investors whom it did not identify. The company sold 3.3 million units, consisting of one share and one share purchase warrant, at a price of 68 cents apiece, Gryphon said in a statement on Canada NewsWire. The shares fell 8 cents, or 12 percent, to 60 cents.
StrataGold Corp. (SGV CN): The bullion explorer said in a statement carried on Canada NewsWire that it has identified two new ``gold zones'' in drilling near its Tassawini deposit in Guyana. The shares added 1 cent to 41 cents.
TransCanada Corp. (TRP CN): The owner of Canada's biggest pipeline system may be among bidders for the natural-gas storage assets of U.S. oil company Chevron Corp. (CVX US) in British Columbia, Mergermarket reported on its Web site, citing a source it did not name.
Mergermarket said that Chevron plans to sell the assets, which could fetch more than $1 billion, to focus on oil-sands and arctic natural-gas projects. Chevron spokesman David Palmer confirmed the decision to sell. Goldman Sachs Group Inc. and other U.S. buyout firms may also bid, Mergermarket said. TransCanada shares added 4 cents to C$38.90.
pennystockbusiness.net
The Standard & Poor's/TSX Composite Index climbed 100.42, or 0.8 percent, to 13,381.
Gryphon Gold Corp. (GGN CN): The explorer for gold in the U.S. said it raised C$2.6 million through the sale of 3.25 million units, consisting of one share and a purchase warrant for another share, at a price of 80 cents apiece. The company expects to sell another 3.5 million units by Dec. 15. In its statement, carried on Market Wire, Gryphon did not name the buyers in the private sale. The shares fell 1 cent to 74 cents.
Medoro Resources Ltd. (MRS CN): The company, which explores for gold on the Italian island of Sardinia, said it raised C$2.25 million by selling equity to investors whom it did not identify. The company sold 3.3 million units, consisting of one share and one share purchase warrant, at a price of 68 cents apiece, Gryphon said in a statement on Canada NewsWire. The shares fell 8 cents, or 12 percent, to 60 cents.
StrataGold Corp. (SGV CN): The bullion explorer said in a statement carried on Canada NewsWire that it has identified two new ``gold zones'' in drilling near its Tassawini deposit in Guyana. The shares added 1 cent to 41 cents.
TransCanada Corp. (TRP CN): The owner of Canada's biggest pipeline system may be among bidders for the natural-gas storage assets of U.S. oil company Chevron Corp. (CVX US) in British Columbia, Mergermarket reported on its Web site, citing a source it did not name.
Mergermarket said that Chevron plans to sell the assets, which could fetch more than $1 billion, to focus on oil-sands and arctic natural-gas projects. Chevron spokesman David Palmer confirmed the decision to sell. Goldman Sachs Group Inc. and other U.S. buyout firms may also bid, Mergermarket said. TransCanada shares added 4 cents to C$38.90.
pennystockbusiness.net
Alfa, Banorte, Cosan Industria, Vale: Latin Equity Preview
The following stocks may make significant gains or losses in Latin American markets today. Symbols are in parentheses after company names, and stock prices are from the last session.
The MSCI index of Latin American shares rose 1 percent to 4,177.09 yesterday. In Brazil, preferred shares are the most commonly traded class of stock.
Brazil
Cia. Vale do Rio Doce (VALE5 BS): The world's largest iron- ore producer will postpone about 20 iron-ore shipments in December. The number of ships waiting to load ore at Vale's Ponta da Madeira port near Sao Luis, Brazil, doubled to 14 today from seven a month earlier, Vale said on its Web site yesterday. Seasonal rains reduced output, and protests that blocked a railroad disrupted shipments from Carajas, the world's biggest iron-ore mine, spokesman Fernando Thompson said yesterday in a phone interview. Vale shares rose 40 centavos, or 0.8 percent, to 49 reais.
Cosan SA Industria e Comercio (CSAN3 BS): The world's biggest sugar-cane processor may lose revenue as sugar prices drop on speculation supply is expanding. The supply surplus, mostly caused by higher production in India, may reach 14 million metric tons this season, equal to about 10 percent of global demand, according to ED&F Man Holdings Ltd., the largest sugar trader. Cosan shares rose 33 centavos, or 1.6 percent, to 20.98 reais.
Mexico
Alfa SAB (ALFAA MM): Fitch Ratings gave an AA rating to 2.5 billion pesos ($227.7 million) of domestic debt issued by the Nemak unit of Mexico's largest maker of engine heads, Fitch said in a statement e-mailed yesterday. The rating is the third- highest for domestic debt. The 7-year notes are partially guaranteed by a government investment agency, Fitch said. Alfa shares were unchanged at 70.17 pesos.
Grupo Financiero Banorte SA (GFNORTEO MM): Mexico's largest publicly traded bank said it sold 5.34 billion pesos ($487 million) of bonds backed by municipal and state government loans. The bank did not disclose additional details about the debt in a statement e-mailed yesterday. Banorte shares rose 45 centavos, or 1 percent, to 46.31.
pennystockbusiness.net
The MSCI index of Latin American shares rose 1 percent to 4,177.09 yesterday. In Brazil, preferred shares are the most commonly traded class of stock.
Brazil
Cia. Vale do Rio Doce (VALE5 BS): The world's largest iron- ore producer will postpone about 20 iron-ore shipments in December. The number of ships waiting to load ore at Vale's Ponta da Madeira port near Sao Luis, Brazil, doubled to 14 today from seven a month earlier, Vale said on its Web site yesterday. Seasonal rains reduced output, and protests that blocked a railroad disrupted shipments from Carajas, the world's biggest iron-ore mine, spokesman Fernando Thompson said yesterday in a phone interview. Vale shares rose 40 centavos, or 0.8 percent, to 49 reais.
Cosan SA Industria e Comercio (CSAN3 BS): The world's biggest sugar-cane processor may lose revenue as sugar prices drop on speculation supply is expanding. The supply surplus, mostly caused by higher production in India, may reach 14 million metric tons this season, equal to about 10 percent of global demand, according to ED&F Man Holdings Ltd., the largest sugar trader. Cosan shares rose 33 centavos, or 1.6 percent, to 20.98 reais.
Mexico
Alfa SAB (ALFAA MM): Fitch Ratings gave an AA rating to 2.5 billion pesos ($227.7 million) of domestic debt issued by the Nemak unit of Mexico's largest maker of engine heads, Fitch said in a statement e-mailed yesterday. The rating is the third- highest for domestic debt. The 7-year notes are partially guaranteed by a government investment agency, Fitch said. Alfa shares were unchanged at 70.17 pesos.
Grupo Financiero Banorte SA (GFNORTEO MM): Mexico's largest publicly traded bank said it sold 5.34 billion pesos ($487 million) of bonds backed by municipal and state government loans. The bank did not disclose additional details about the debt in a statement e-mailed yesterday. Banorte shares rose 45 centavos, or 1 percent, to 46.31.
pennystockbusiness.net
вторник, 20 ноября 2007 г.
Agnico-Eagle, Bombardier, Metro: Canadian Equity Mover Preview
The following is a list of companies whose shares may have unusual price changes in Canada. Stock symbols are in parentheses after company names and prices are from the last close.
The Standard & Poor's/TSX Composite Index rose 111.53, or 0.8 percent, to 13,459.77.
Agnico-Eagle Mines Ltd. (AEM CN): The owner of Canada's biggest gold deposit said that investors exercised 6.88 million share warrants before they expired Nov. 14. The company received $130.6 million after issuing almost 6.88 million shares, Agnico- Eagle said in a statement distributed on PRNewswire. The shares rose C$3, or 6.3 percent, to C$50.80.
Bombardier Inc. (BBD/B CN): The world's third-largest maker of commercial aircraft won an order from Australia's Qantas Airways Ltd. (QAN AU) for 12 Q400 turboprop planes. The order is worth $339 million, Bombardier said in a release distributed by Market Wire.
Bombardier said in a separate statement on Market Wire that it sold four CRJ700 regional jets to closely held GoJet Airlines of St. Louis. That order is worth about $137.5 million, Bombardier said. The shares slipped 1 cent, or 0.2 percent, to C$5.35.
Metro Inc. (MRU/A CN): Canada's third-biggest supermarket chain named Eric Richer La Fleche chief executive officer to replace Pierre Lessard, who will retire next year. La Fleche, 45, will take the new position on April 1, when Lessard retires, the Montreal-based company said in a statement sent by Canada NewsWire. The shares, down 23 percent this year, gained 20 cents, or 0.7 percent, to C$29.20.
fastgrowthstock.com
The Standard & Poor's/TSX Composite Index rose 111.53, or 0.8 percent, to 13,459.77.
Agnico-Eagle Mines Ltd. (AEM CN): The owner of Canada's biggest gold deposit said that investors exercised 6.88 million share warrants before they expired Nov. 14. The company received $130.6 million after issuing almost 6.88 million shares, Agnico- Eagle said in a statement distributed on PRNewswire. The shares rose C$3, or 6.3 percent, to C$50.80.
Bombardier Inc. (BBD/B CN): The world's third-largest maker of commercial aircraft won an order from Australia's Qantas Airways Ltd. (QAN AU) for 12 Q400 turboprop planes. The order is worth $339 million, Bombardier said in a release distributed by Market Wire.
Bombardier said in a separate statement on Market Wire that it sold four CRJ700 regional jets to closely held GoJet Airlines of St. Louis. That order is worth about $137.5 million, Bombardier said. The shares slipped 1 cent, or 0.2 percent, to C$5.35.
Metro Inc. (MRU/A CN): Canada's third-biggest supermarket chain named Eric Richer La Fleche chief executive officer to replace Pierre Lessard, who will retire next year. La Fleche, 45, will take the new position on April 1, when Lessard retires, the Montreal-based company said in a statement sent by Canada NewsWire. The shares, down 23 percent this year, gained 20 cents, or 0.7 percent, to C$29.20.
fastgrowthstock.com
Ekco, Grupo Mexico, Petrobras, Telmex: Latin Equity Preview
The following stocks may make significant gains or losses in Latin American markets today. Symbols are in parentheses after company names, and stock prices are from the last session.
The MSCI index of Latin American shares fell 0.6 percent to 4,292.56 yesterday. Brazilian markets were closed for a holiday yesterday.
In Brazil, preferred shares are the most commonly traded class of stock.
Brazil
Redecard SA (RDCD3 BS): Bear Stearns & Co. reiterated its ``outperform'' rating on the processor of credit card and debit card transactions, analyst Paulo Ribeiro wrote in a research note yesterday after spending time ``on the road'' with the company's management. Redecard fell 1.41 real, or 4 percent, to 33.50 reais on Nov. 19.
Petroleo Brasileiro SA (PETR4 BS): Brazil's state- controlled oil company may rise after its Argentine listing (APBR AF) gained 2.2 percent and crude oil rose to a record yesterday when Sao Paulo trading was closed. Also, operations started at the company's FPSO Cidade de Vitoria platform in Espirito Santo Sea, the company said in a Nov. 19 statement. In Sao Paulo, shares fell 1.5 real, or 1.9 percent, to 77.30 reais.
Chile
Embotelladora Andina SA (ANDINAB CC): David Riedel of Riedel Research upgraded Chile's Coca-Cola distributor to ``buy,'' he wrote in an e-mailed research note yesterday, citing positive prospects at its Brazilian operations and the company's ``solid'' financial profile. Andina fell 19 pesos, or 1.2 percent, to 1,560 pesos in Santiago yesterday.
Mexico
Ekco SAB (EKCO* MM): The Mexican producer of steel and aluminum cookware said shareholders will have 15 days starting Nov. 26 to buy stock in a rights offering of as many as 31 million new shares. The price for shareholders is 9.27 centavos each, Ekco said in an e-mail statement to the Mexican stock exchange yesterday. Ekco shares fell 24 centavos, or 3.7 percent, to 6.20 pesos.
Grupo Mexico SAB (GMEXICOB MM): A railroad unit of Mexico's largest copper miner said it repaid 697.8 million pesos ($63 million) in debt to Banco Inbursa SA. Ferrocarril Mexicano SA also loaned 604 million pesos to parent Grupo Ferroviario Mexicano, the subsidiary said in a statement e-mailed by the Mexican stock exchange yesterday. Grupo Mexico shares fell 2.60 pesos, or 3.3 percent, to 75.43 pesos.
Telefonos de Mexico SAB (TELMEXL MM): Mexico's largest fixed-line phone company said it is ``ready'' to sign a deal to connect calls with Grupo Televisa SAB's cable unit. Telmex, as the fixed-line company is known, invited the cable unit to sign the interconnection agreement ``as soon as possible,'' it said in a statement e-mailed to the Mexican stock exchange yesterday. Telmex was ordered to connect calls with Televisa by Mexican regulators last week. Telmex shares fell 54 centavos, or 2.7 percent, to 19.51 pesos.
fastgrowthstock.com
The MSCI index of Latin American shares fell 0.6 percent to 4,292.56 yesterday. Brazilian markets were closed for a holiday yesterday.
In Brazil, preferred shares are the most commonly traded class of stock.
Brazil
Redecard SA (RDCD3 BS): Bear Stearns & Co. reiterated its ``outperform'' rating on the processor of credit card and debit card transactions, analyst Paulo Ribeiro wrote in a research note yesterday after spending time ``on the road'' with the company's management. Redecard fell 1.41 real, or 4 percent, to 33.50 reais on Nov. 19.
Petroleo Brasileiro SA (PETR4 BS): Brazil's state- controlled oil company may rise after its Argentine listing (APBR AF) gained 2.2 percent and crude oil rose to a record yesterday when Sao Paulo trading was closed. Also, operations started at the company's FPSO Cidade de Vitoria platform in Espirito Santo Sea, the company said in a Nov. 19 statement. In Sao Paulo, shares fell 1.5 real, or 1.9 percent, to 77.30 reais.
Chile
Embotelladora Andina SA (ANDINAB CC): David Riedel of Riedel Research upgraded Chile's Coca-Cola distributor to ``buy,'' he wrote in an e-mailed research note yesterday, citing positive prospects at its Brazilian operations and the company's ``solid'' financial profile. Andina fell 19 pesos, or 1.2 percent, to 1,560 pesos in Santiago yesterday.
Mexico
Ekco SAB (EKCO* MM): The Mexican producer of steel and aluminum cookware said shareholders will have 15 days starting Nov. 26 to buy stock in a rights offering of as many as 31 million new shares. The price for shareholders is 9.27 centavos each, Ekco said in an e-mail statement to the Mexican stock exchange yesterday. Ekco shares fell 24 centavos, or 3.7 percent, to 6.20 pesos.
Grupo Mexico SAB (GMEXICOB MM): A railroad unit of Mexico's largest copper miner said it repaid 697.8 million pesos ($63 million) in debt to Banco Inbursa SA. Ferrocarril Mexicano SA also loaned 604 million pesos to parent Grupo Ferroviario Mexicano, the subsidiary said in a statement e-mailed by the Mexican stock exchange yesterday. Grupo Mexico shares fell 2.60 pesos, or 3.3 percent, to 75.43 pesos.
Telefonos de Mexico SAB (TELMEXL MM): Mexico's largest fixed-line phone company said it is ``ready'' to sign a deal to connect calls with Grupo Televisa SAB's cable unit. Telmex, as the fixed-line company is known, invited the cable unit to sign the interconnection agreement ``as soon as possible,'' it said in a statement e-mailed to the Mexican stock exchange yesterday. Telmex was ordered to connect calls with Televisa by Mexican regulators last week. Telmex shares fell 54 centavos, or 2.7 percent, to 19.51 pesos.
fastgrowthstock.com
понедельник, 19 ноября 2007 г.
Wall Street Plans $38 Billion of Bonuses as Shareholders Lose
Shareholders in the securities industry are having their worst year since 2002, losing $74 billion of their equity. That won't prevent Wall Street from paying record bonuses, totaling almost $38 billion.
That money, split among about 186,000 workers at Goldman Sachs Group Inc., Morgan Stanley, Merrill Lynch & Co., Lehman Brothers Holdings Inc. and Bear Stearns Cos., equates to an average of $201,500 per person, according to data compiled by Bloomberg. The five biggest U.S. securities firms paid $36 billion to employees last year.
The bigger bonus pool derives from a record $9 billion of fees for arranging acquisitions and $5 billion for underwriting initial public offerings and sales of junk bonds, the most lucrative securities, Bloomberg data show. Bankers' record fees help explain why 2007 will prove to be the industry's second- most profitable after the subprime mortgage market collapse led to losses at Merrill and Bear Stearns. The last time bonuses declined was 2002 when the Standard & Poor's 500 Index fell 23 percent, and Enron Corp. and WorldCom Inc. went bankrupt.
Goldman's record earnings and gains at Morgan Stanley and Lehman mean all the New York-based firms will be forced to pay more in a year when all but Goldman lost more than 20 percent of their market value, said Charles Geisst, finance professor at Manhattan College in Riverdale, New York.
``They're all going to have to fall into line,'' said Geisst, author of ``100 Years of Wall Street.'' ``If Bear and Merrill plead poverty, they're going to lose all of their good people.''
lookthroughtmarket.com
That money, split among about 186,000 workers at Goldman Sachs Group Inc., Morgan Stanley, Merrill Lynch & Co., Lehman Brothers Holdings Inc. and Bear Stearns Cos., equates to an average of $201,500 per person, according to data compiled by Bloomberg. The five biggest U.S. securities firms paid $36 billion to employees last year.
The bigger bonus pool derives from a record $9 billion of fees for arranging acquisitions and $5 billion for underwriting initial public offerings and sales of junk bonds, the most lucrative securities, Bloomberg data show. Bankers' record fees help explain why 2007 will prove to be the industry's second- most profitable after the subprime mortgage market collapse led to losses at Merrill and Bear Stearns. The last time bonuses declined was 2002 when the Standard & Poor's 500 Index fell 23 percent, and Enron Corp. and WorldCom Inc. went bankrupt.
Goldman's record earnings and gains at Morgan Stanley and Lehman mean all the New York-based firms will be forced to pay more in a year when all but Goldman lost more than 20 percent of their market value, said Charles Geisst, finance professor at Manhattan College in Riverdale, New York.
``They're all going to have to fall into line,'' said Geisst, author of ``100 Years of Wall Street.'' ``If Bear and Merrill plead poverty, they're going to lose all of their good people.''
lookthroughtmarket.com
Couche-Tard, Norbord Shares May Move: Canadian Equity Preview
The following is a list of companies whose shares may have unusual price changes in Canada. Stock symbols are in parentheses after company names and prices are from the last close.
The Standard & Poor's/TSX Composite Index added 5.93, or less than 0.1 percent, to 13,530.36.
Alimentation Couche-Tard Inc. (ATD/B CN): North America's second-biggest convenience-store operator may buy some of the more than 700 stores being sold by BP Plc in the next two years, Canadian Press reported, citing Chief Financial Officer Richard Fortin. Fortin didn't immediately return a telephone call from Bloomberg News seeking comment. The shares fell 15 cents, or 0.8 percent, to C$18.51.
Norbord Inc. (NBD CN): The company said it will temporarily suspend operations at two wood-panel mills in Quebec as the U.S. housing slump curbs demand. The shares gained 7 cents, or 0.9 percent, to C$7.73.
lookthroughtmarket.com
The Standard & Poor's/TSX Composite Index added 5.93, or less than 0.1 percent, to 13,530.36.
Alimentation Couche-Tard Inc. (ATD/B CN): North America's second-biggest convenience-store operator may buy some of the more than 700 stores being sold by BP Plc in the next two years, Canadian Press reported, citing Chief Financial Officer Richard Fortin. Fortin didn't immediately return a telephone call from Bloomberg News seeking comment. The shares fell 15 cents, or 0.8 percent, to C$18.51.
Norbord Inc. (NBD CN): The company said it will temporarily suspend operations at two wood-panel mills in Quebec as the U.S. housing slump curbs demand. The shares gained 7 cents, or 0.9 percent, to C$7.73.
lookthroughtmarket.com
пятница, 16 ноября 2007 г.
Canadian Stocks Retreat, Led by Royal Bank, on Credit Concerns
Canadian stocks fell for the first time in three days, led by Royal Bank of Canada, after credit union Desjardins Group's writedown stoked concern that lenders may face more losses on the value of asset-backed securities.
``There's concern about anything financial,'' said Laura Wallace, who helps oversee about $308 million as managing director at Coleford Investment Management Ltd. in Toronto. ``There's more pain to come. The market's been too optimistic.''
The Standard & Poor's/TSX Composite Index dropped 250.11, or 1.8 percent, to 13,524.43 in Toronto. The benchmark had rallied for two days as some investors judged a five percent selloff earlier in the month may have been overdone.
Royal Bank, Bank of Nova Scotia, Toronto-Dominion Bank and Canadian Imperial Bank of Commerce have announced writedowns in the past month, leaving analysts to speculate that National Bank of Canada and Bank of Montreal may follow suit before or during fourth-quarter earnings reports later this month.
Royal Bank, the nation's largest lender by assets, dropped C$1.30 to C$51.09. Smaller rival Bank of Nova Scotia, declined C$1.50 to C$50.09. CIBC retreated C$3.73, or 4 percent, to C$88.57, the most since August 2003, when it agreed to pay $2.4 billion to resolve claims by Enron Corp. shareholders.
National Bank fell 91 cents to C$51.32, while bank of Montreal dropped 41 cents to C$57.12.
Manulife Financial Corp. declined 46 cents to C$40.11. Canada's biggest insurer is not anticipating any ``significant losses'' related to its portfolio of sub-prime mortgages, which had diminished in size from about C$840 million at the end of the second quarter, Donald Guloien, chief investment officer, said on the company's third-quarter results conference call last week.
microcappics.com
``There's concern about anything financial,'' said Laura Wallace, who helps oversee about $308 million as managing director at Coleford Investment Management Ltd. in Toronto. ``There's more pain to come. The market's been too optimistic.''
The Standard & Poor's/TSX Composite Index dropped 250.11, or 1.8 percent, to 13,524.43 in Toronto. The benchmark had rallied for two days as some investors judged a five percent selloff earlier in the month may have been overdone.
Royal Bank, Bank of Nova Scotia, Toronto-Dominion Bank and Canadian Imperial Bank of Commerce have announced writedowns in the past month, leaving analysts to speculate that National Bank of Canada and Bank of Montreal may follow suit before or during fourth-quarter earnings reports later this month.
Royal Bank, the nation's largest lender by assets, dropped C$1.30 to C$51.09. Smaller rival Bank of Nova Scotia, declined C$1.50 to C$50.09. CIBC retreated C$3.73, or 4 percent, to C$88.57, the most since August 2003, when it agreed to pay $2.4 billion to resolve claims by Enron Corp. shareholders.
National Bank fell 91 cents to C$51.32, while bank of Montreal dropped 41 cents to C$57.12.
Manulife Financial Corp. declined 46 cents to C$40.11. Canada's biggest insurer is not anticipating any ``significant losses'' related to its portfolio of sub-prime mortgages, which had diminished in size from about C$840 million at the end of the second quarter, Donald Guloien, chief investment officer, said on the company's third-quarter results conference call last week.
microcappics.com
Latin American Shares Fall, Led by Southern Copper, on Metals
Latin stocks fell for the first time in three days, as mining companies including Peru's Southern Copper Corp. declined along with global metal prices.
The Morgan Stanley Capital International index of Latin American shares slid 1.1 percent to 4,450.03. Indexes in Argentina, Mexico and Peru fell more than 1.6 percent each. Brazilian markets were closed for a holiday.
Southern Copper, the world's fifth-largest copper producer, lost 5.4 percent to $107.80 as copper futures fell 6.4 percent, the most in three months, in New York. Mines in Chile, the world's biggest producer of the metal, resumed production today, reversing the surge in metals prices that came after an earthquake yesterday.
``The market here is following commodity prices and what's going on overseas,'' Manuel Aldave, who helps manage $200 million in equities for BBVA Fondos Continental in Lima, said by phone today. ``People are reacting short term. No-one wants to take a longer term view because of everything that's happening internationally.''
U.S. stocks fell for a second day after Wells Fargo & Co., the second-largest U.S. mortgage lender, said the housing market is the worst since the Great Depression and oil prices slumped on an unexpected rise in inventories.
The Bolsa in Mexico, which sells about 80 percent of its exports in the U.S., retreated for the first time in three days, losing 1.6 percent to 29,170.90. Grupo Mexico SAB, Mexico's largest copper miner and the parent of Southern Copper, dropped 5.5 percent to 74.69 pesos. Industrias Penoles SAB, the country's largest silver miner, fell 5.8 percent.
In other Latin American markets, the main indexes in Argentina, Chile and Peru fell, while those in Colombia and Venezuela rose.
microcappics.com
The Morgan Stanley Capital International index of Latin American shares slid 1.1 percent to 4,450.03. Indexes in Argentina, Mexico and Peru fell more than 1.6 percent each. Brazilian markets were closed for a holiday.
Southern Copper, the world's fifth-largest copper producer, lost 5.4 percent to $107.80 as copper futures fell 6.4 percent, the most in three months, in New York. Mines in Chile, the world's biggest producer of the metal, resumed production today, reversing the surge in metals prices that came after an earthquake yesterday.
``The market here is following commodity prices and what's going on overseas,'' Manuel Aldave, who helps manage $200 million in equities for BBVA Fondos Continental in Lima, said by phone today. ``People are reacting short term. No-one wants to take a longer term view because of everything that's happening internationally.''
U.S. stocks fell for a second day after Wells Fargo & Co., the second-largest U.S. mortgage lender, said the housing market is the worst since the Great Depression and oil prices slumped on an unexpected rise in inventories.
The Bolsa in Mexico, which sells about 80 percent of its exports in the U.S., retreated for the first time in three days, losing 1.6 percent to 29,170.90. Grupo Mexico SAB, Mexico's largest copper miner and the parent of Southern Copper, dropped 5.5 percent to 74.69 pesos. Industrias Penoles SAB, the country's largest silver miner, fell 5.8 percent.
In other Latin American markets, the main indexes in Argentina, Chile and Peru fell, while those in Colombia and Venezuela rose.
microcappics.com
четверг, 15 ноября 2007 г.
Applied Materials Drops on Forecast: U.S. After-Hours
Applied Materials Inc. shares fell in extended U.S. trading after the largest maker of semiconductor-production machines forecast profit this quarter that trailed analysts' estimates.
Applied Materials lost 93 cents, or 4.9 percent, to $17.88 as of 6:50 p.m. in New York.
The company predicted earnings in the current quarter will fall to between 16 cents and 20 cents, compared with an average analyst estimate of 27 cents in a Bloomberg survey. Fiscal fourth-quarter profit at Applied Materials fell 6.1 percent after it filled fewer orders from makers of computer-memory chips.
CarMax Inc. rose $1.26, or 5.9 percent, to $22.73 after Berkshire Hathaway Inc., the investment firm run by billionaire Warren Buffett, disclosed a 6.4 percent stake in the biggest U.S. used-car dealer. Berkshire, which held 14 million shares as of Sept. 30, is now the fourth-biggest shareholder in CarMax, according to Bloomberg data. Berkshire disclosed the holding in a regulatory filing.
December futures on the Standard & Poor's 500 Index lost 0.10 to 1478, while Nasdaq-100 Index futures fell 11.5 to 2,046.
In regular trading, the U.S. stock market resumed its weeklong descent, led by department stores and computer makers, after Macy's Inc. cut its sales forecast and the government said consumer spending slowed last month.
The Dow Jones Industrial Average lost 76.08, or 0.6 percent, to 13,231.01. The Nasdaq Composite Index fell 29.33, or 1.1 percent, to 2,644.32. The S&P 500 decreased 10.47, or 0.7 percent, to 1,470.58.
pennystockuniversity.net
Applied Materials lost 93 cents, or 4.9 percent, to $17.88 as of 6:50 p.m. in New York.
The company predicted earnings in the current quarter will fall to between 16 cents and 20 cents, compared with an average analyst estimate of 27 cents in a Bloomberg survey. Fiscal fourth-quarter profit at Applied Materials fell 6.1 percent after it filled fewer orders from makers of computer-memory chips.
CarMax Inc. rose $1.26, or 5.9 percent, to $22.73 after Berkshire Hathaway Inc., the investment firm run by billionaire Warren Buffett, disclosed a 6.4 percent stake in the biggest U.S. used-car dealer. Berkshire, which held 14 million shares as of Sept. 30, is now the fourth-biggest shareholder in CarMax, according to Bloomberg data. Berkshire disclosed the holding in a regulatory filing.
December futures on the Standard & Poor's 500 Index lost 0.10 to 1478, while Nasdaq-100 Index futures fell 11.5 to 2,046.
In regular trading, the U.S. stock market resumed its weeklong descent, led by department stores and computer makers, after Macy's Inc. cut its sales forecast and the government said consumer spending slowed last month.
The Dow Jones Industrial Average lost 76.08, or 0.6 percent, to 13,231.01. The Nasdaq Composite Index fell 29.33, or 1.1 percent, to 2,644.32. The S&P 500 decreased 10.47, or 0.7 percent, to 1,470.58.
pennystockuniversity.net
Loblaw, National Bank, Uranium One: Canadian Equity Preview
The following is a list of companies whose shares may have unusual price changes in Canada. Stock symbols are in parentheses after company names and prices are from the last close.
The Standard & Poor's/TSX Composite Index rose 69.40, or 0.5 percent, to 13,774.54.
Loblaw Cos. (L CN): Canada's biggest supermarket chain may say third-quarter profit was 76 cents a share on sales of C$9.32 billion ($9.67 billion), according to the average estimates in a Bloomberg survey. Loblaw shares added 8 cents to C$40.59.
National Bank of Canada (NA CN): The country's worst- performing bank stock this year is shifting employees away from fixed income and investment banking and may cut jobs amid a slump in credit markets, spokesman Denis Dube said. National Bank shares rose 15 cents to C$52.23.
Uranium One Inc. (UUU CN): The developer of South Africa's largest uranium deposit had a third-quarter loss swelled by $15.5 million in costs tied to stock options and restricted shares. Uranium One shares rose 4 cents to C$8.27.
pennystockuniversity.net
The Standard & Poor's/TSX Composite Index rose 69.40, or 0.5 percent, to 13,774.54.
Loblaw Cos. (L CN): Canada's biggest supermarket chain may say third-quarter profit was 76 cents a share on sales of C$9.32 billion ($9.67 billion), according to the average estimates in a Bloomberg survey. Loblaw shares added 8 cents to C$40.59.
National Bank of Canada (NA CN): The country's worst- performing bank stock this year is shifting employees away from fixed income and investment banking and may cut jobs amid a slump in credit markets, spokesman Denis Dube said. National Bank shares rose 15 cents to C$52.23.
Uranium One Inc. (UUU CN): The developer of South Africa's largest uranium deposit had a third-quarter loss swelled by $15.5 million in costs tied to stock options and restricted shares. Uranium One shares rose 4 cents to C$8.27.
pennystockuniversity.net
вторник, 13 ноября 2007 г.
Ballard, Clearwater, Lundin, Tim Hortons: Canada Equity Preview
The following is a list of companies whose shares may have unusual price changes in Canada. Stock symbols are in parentheses after company names and prices are from the last close in Toronto.
The Standard & Poor's/TSX Composite Index rose 100.18, or 0.7 percent, to 13,705.14.
Ballard Power Systems Inc. (BLD CN): The fuel cell maker said that Transport for London, the U.K. capital's public transport agency, chose Ballard fuel cells to power five buses starting in 2009. Shares of Ballard, which last week agreed to sell its automotive fuel-cell business to stakeholders Daimler AG and Ford Motor Co., gained 6 cents, or 1.2 percent, to C$4.90.
Clearwater Seafoods Income Fund (CLR-U CN): The seafood producer said cash distributable to shareholders tumbled 44 percent to C$5.8 million as the soaring Canadian dollar reduced earnings from abroad. Trustees of the income fund began a search for ``strategic alternatives available to maximize unitholder value.'' The shares gained 1 cent to C$4.36.
Lundin Mining Corp. (LUN CN): The company, which bought more than C$2 billion ($2.09 billion) in base-metal assets this year, was rated ``outperform,'' with a 12-month share-price forecast of C$14, in new coverage by Credit Suisse's Ralph Profiti. The Toronto-based analyst wrote in a research note that Lundin has ``one of the better mixes'' of assets among mid-sized global base metals producers. The shares fell 34 cents, or 3.3 percent, to C$10.09.
Martinrea International Inc. (MRE CN): The car-parts maker said fourth-quarter profit will be 18 cents to 21 cents share. Analysts expect 28 cents, the average estimate in a Bloomberg survey. The shares fell 6 cents, or 0.4 percent, to C$13.77.
Peyto Energy Trust (PEY-U CN): The Calgary-based natural gas producer announced a special meeting for Dec. 14 at which shareholders can vote on a proposed reorganization of the income fund. Under the plan, Peyto and its subsidiaries would convert into a limited partnership indirectly controlled by the trust and cash distributions would remain unchanged, according to a statement carried on Canada NewsWire. Peyto shares rose 47 cents, or 2.8 percent, to C$17.12.
Tim Hortons Inc. (THI CN): Billionaire Nelson Peltz's Trian hedge funds sold its stake in doughnut chain Tim Hortons. The shares added 1 cent to C$37.31
Urbana Corp. (URB CN): The investor in securities and commodities exchanges bought another Chicago Board Options Exchange membership for $2.9 million. The shares fell 24 cents, or 5.3 percent, to C$4.30.
microcapknowlege.com
The Standard & Poor's/TSX Composite Index rose 100.18, or 0.7 percent, to 13,705.14.
Ballard Power Systems Inc. (BLD CN): The fuel cell maker said that Transport for London, the U.K. capital's public transport agency, chose Ballard fuel cells to power five buses starting in 2009. Shares of Ballard, which last week agreed to sell its automotive fuel-cell business to stakeholders Daimler AG and Ford Motor Co., gained 6 cents, or 1.2 percent, to C$4.90.
Clearwater Seafoods Income Fund (CLR-U CN): The seafood producer said cash distributable to shareholders tumbled 44 percent to C$5.8 million as the soaring Canadian dollar reduced earnings from abroad. Trustees of the income fund began a search for ``strategic alternatives available to maximize unitholder value.'' The shares gained 1 cent to C$4.36.
Lundin Mining Corp. (LUN CN): The company, which bought more than C$2 billion ($2.09 billion) in base-metal assets this year, was rated ``outperform,'' with a 12-month share-price forecast of C$14, in new coverage by Credit Suisse's Ralph Profiti. The Toronto-based analyst wrote in a research note that Lundin has ``one of the better mixes'' of assets among mid-sized global base metals producers. The shares fell 34 cents, or 3.3 percent, to C$10.09.
Martinrea International Inc. (MRE CN): The car-parts maker said fourth-quarter profit will be 18 cents to 21 cents share. Analysts expect 28 cents, the average estimate in a Bloomberg survey. The shares fell 6 cents, or 0.4 percent, to C$13.77.
Peyto Energy Trust (PEY-U CN): The Calgary-based natural gas producer announced a special meeting for Dec. 14 at which shareholders can vote on a proposed reorganization of the income fund. Under the plan, Peyto and its subsidiaries would convert into a limited partnership indirectly controlled by the trust and cash distributions would remain unchanged, according to a statement carried on Canada NewsWire. Peyto shares rose 47 cents, or 2.8 percent, to C$17.12.
Tim Hortons Inc. (THI CN): Billionaire Nelson Peltz's Trian hedge funds sold its stake in doughnut chain Tim Hortons. The shares added 1 cent to C$37.31
Urbana Corp. (URB CN): The investor in securities and commodities exchanges bought another Chicago Board Options Exchange membership for $2.9 million. The shares fell 24 cents, or 5.3 percent, to C$4.30.
microcapknowlege.com
Cemex, Iochpe Maxion, Minera Cerro Verde: Latin Equity Preview
The following stocks may make significant gains or losses in Latin American markets today. Symbols are in parentheses after company names, and stock prices are from the last session.
The Morgan Stanley Capital International index of Latin American shares rose 3.1 percent to 4,348.78 yesterday.
In Brazil, preferred shares are the most commonly traded class of stock. Markets were closed yesterday in Colombia for a holiday.
Brazil
Iochpe Maxion SA (MYPK4 BS): Brazil's biggest maker of rail freight cars said it received an order for 412 freight cars, valued at an undisclosed amount, from MRV Logistica SA. The cars, to be delivered between March and June, bring Iochpe Maxion's orders for next year up to 1,940 and revenue may reach 320 million reais ($183 million), the company said yesterday in a regulatory filing. The Sao Paulo-based company rose 10 centavos, or 0.3 percent, to 34 reais.
Fertilizantes Heringer SA (FHER3 BS): Brazil's second- biggest publicly traded fertilizer company will likely be able to pass higher raw materials costs on to customers because of increasing agricultural commodity demand, pushing up profits as Brazilian fertilizer companies head to another record year of sales, Banco do Brasil Investimentos analyst Anna Lucia Queiroz wrote in a note e-mailed yesterday. Viana, Brazil- based Heringer fell 1.25 real, or 5.8 percent, to 20.25 reais.
Mexico
Cemex SAB (CEMEXCP MM): North America's largest cement maker will contribute assets valued at $150 million and sell businesses worth $227 million to a joint venture with Ready Mix USA. Ready Mix will contribute $150 million in cash to the venture, Cemex said in a statement distributed by Business Wire yesterday. Cemex shares rose 1.67 pesos, or 5.9 percent, to 29.77 pesos.
Peru
Sociedad Minera Cerro Verde (SMCV PE): Freeport McMoran Inc., parent of Peru's third-largest copper producer, tripled output at its mines in the country in September following an $850 million expansion, the Energy and Mines Ministry said in a statement sent by e-mail yesterday. Cerro Verde shares rose 11 cents, or 0.4 percent, to $27.50.
microcapknowlege.com
The Morgan Stanley Capital International index of Latin American shares rose 3.1 percent to 4,348.78 yesterday.
In Brazil, preferred shares are the most commonly traded class of stock. Markets were closed yesterday in Colombia for a holiday.
Brazil
Iochpe Maxion SA (MYPK4 BS): Brazil's biggest maker of rail freight cars said it received an order for 412 freight cars, valued at an undisclosed amount, from MRV Logistica SA. The cars, to be delivered between March and June, bring Iochpe Maxion's orders for next year up to 1,940 and revenue may reach 320 million reais ($183 million), the company said yesterday in a regulatory filing. The Sao Paulo-based company rose 10 centavos, or 0.3 percent, to 34 reais.
Fertilizantes Heringer SA (FHER3 BS): Brazil's second- biggest publicly traded fertilizer company will likely be able to pass higher raw materials costs on to customers because of increasing agricultural commodity demand, pushing up profits as Brazilian fertilizer companies head to another record year of sales, Banco do Brasil Investimentos analyst Anna Lucia Queiroz wrote in a note e-mailed yesterday. Viana, Brazil- based Heringer fell 1.25 real, or 5.8 percent, to 20.25 reais.
Mexico
Cemex SAB (CEMEXCP MM): North America's largest cement maker will contribute assets valued at $150 million and sell businesses worth $227 million to a joint venture with Ready Mix USA. Ready Mix will contribute $150 million in cash to the venture, Cemex said in a statement distributed by Business Wire yesterday. Cemex shares rose 1.67 pesos, or 5.9 percent, to 29.77 pesos.
Peru
Sociedad Minera Cerro Verde (SMCV PE): Freeport McMoran Inc., parent of Peru's third-largest copper producer, tripled output at its mines in the country in September following an $850 million expansion, the Energy and Mines Ministry said in a statement sent by e-mail yesterday. Cerro Verde shares rose 11 cents, or 0.4 percent, to $27.50.
microcapknowlege.com
Canada Stocks Slide on Gold, Copper, Oil; Barrick, Potash Drop
Canadian stocks fell, sending the main equity index to its biggest two-day drop in 17 months, led by commodity producers on concern that slower global growth will reduce demand for Canadian resource exports.
Barrick Gold Corp. and Potash Corp. Of Saskatchewan Inc. paced the retreat as gold had its biggest drop in 13 months, copper declined to the lowest since March, and crude oil fell more than $1 a barrel, dimming the companies' profit outlook.
The Standard & Poor's/TSX Composite Index fell 264.86, or 1.9 percent, to 13,604.96 in Toronto. The benchmark has fallen 3.7 percent in two days, the most since June 13, 2006. Losses were limited as Cognos Inc. gained on a takeover offer from International Business Machines Corp. and finance shares rose.
``People are taking any old excuse to sell,'' said Peter Hodson, who helps manage $6.44 billion (C$6.23 billion) as senior portfolio manager at Sprott Asset Management Inc. in Toronto. ``I'm buying nothing except my favorites on the way down.''
A measure of raw-materials stocks dropped 6.4 percent, the most in 10 years. Together with energy shares, the industry accounts for more than two-fifths of the S&P/TSX's value.
Gold slid 3.2 percent in New York after rallying 11 of the past 12 weeks to a 27-year high on Nov. 7. Copper fell to a seven-month low in New York after imports declined in China, the world's largest user of the metal. Crude oil dropped more than $1 a barrel on forecasts for reduced U.S. consumer spending and slowing growth of Chinese oil imports.
microcapmarket.net
Barrick Gold Corp. and Potash Corp. Of Saskatchewan Inc. paced the retreat as gold had its biggest drop in 13 months, copper declined to the lowest since March, and crude oil fell more than $1 a barrel, dimming the companies' profit outlook.
The Standard & Poor's/TSX Composite Index fell 264.86, or 1.9 percent, to 13,604.96 in Toronto. The benchmark has fallen 3.7 percent in two days, the most since June 13, 2006. Losses were limited as Cognos Inc. gained on a takeover offer from International Business Machines Corp. and finance shares rose.
``People are taking any old excuse to sell,'' said Peter Hodson, who helps manage $6.44 billion (C$6.23 billion) as senior portfolio manager at Sprott Asset Management Inc. in Toronto. ``I'm buying nothing except my favorites on the way down.''
A measure of raw-materials stocks dropped 6.4 percent, the most in 10 years. Together with energy shares, the industry accounts for more than two-fifths of the S&P/TSX's value.
Gold slid 3.2 percent in New York after rallying 11 of the past 12 weeks to a 27-year high on Nov. 7. Copper fell to a seven-month low in New York after imports declined in China, the world's largest user of the metal. Crude oil dropped more than $1 a barrel on forecasts for reduced U.S. consumer spending and slowing growth of Chinese oil imports.
microcapmarket.net
Brazil Stocks Fall on Growth Concern: World's Biggest Mover
Brazil's main stock index fell the most in almost nine months, led by oil company Petroleo Brasileiro SA, on concern slowing global growth will crimp demand for raw materials.
The Bovespa Index of the most-traded stocks on the Sao Paulo exchange fell 2,793.69, or 4.3 percent, to 61,526.87. The drop was the biggest move among global stock benchmarks and Brazil's worst tumble since Feb. 27. The Morgan Stanley Capital International index of Latin American shares fell 5.3 percent, the most since Aug. 16, while in Mexico the Bolsa fell 3.3 percent.
``We're seeing a delicate and painful process of adjustment in the size of the global economy,'' said Andre Caminada, who helps manage the equivalent of about $225 million at Victoire Finance Capital in Sao Paulo. ``Any index that has a big proportion of commodities is going to be incredibly sensitive to that.''
Brazilian stocks, which rose to a record Oct. 31, have little room for further gains, as a rally commodities and the currency that drove stocks higher is likely to slow, analysts including Damian Fraser at UBS said, as they downgraded Brazil from a ``top regional pick.'' Oil today fell 1.8 percent in New York. In London, copper fell along with other metals, hitting the lowest price in seven months as rising inventories signaled slumping demand.
Rising fuel costs may have slowed retail spending growth in the U.S., the world's largest oil user, to a four-month low in October, according to a Bloomberg survey.
microcapmarket.net
The Bovespa Index of the most-traded stocks on the Sao Paulo exchange fell 2,793.69, or 4.3 percent, to 61,526.87. The drop was the biggest move among global stock benchmarks and Brazil's worst tumble since Feb. 27. The Morgan Stanley Capital International index of Latin American shares fell 5.3 percent, the most since Aug. 16, while in Mexico the Bolsa fell 3.3 percent.
``We're seeing a delicate and painful process of adjustment in the size of the global economy,'' said Andre Caminada, who helps manage the equivalent of about $225 million at Victoire Finance Capital in Sao Paulo. ``Any index that has a big proportion of commodities is going to be incredibly sensitive to that.''
Brazilian stocks, which rose to a record Oct. 31, have little room for further gains, as a rally commodities and the currency that drove stocks higher is likely to slow, analysts including Damian Fraser at UBS said, as they downgraded Brazil from a ``top regional pick.'' Oil today fell 1.8 percent in New York. In London, copper fell along with other metals, hitting the lowest price in seven months as rising inventories signaled slumping demand.
Rising fuel costs may have slowed retail spending growth in the U.S., the world's largest oil user, to a four-month low in October, according to a Bloomberg survey.
microcapmarket.net
понедельник, 12 ноября 2007 г.
Canadian Stocks Decline, Led by Barrick, Suncor; Cognos Gains
Canadian stocks fell for a third time in four days as lower prices for gold, copper and crude oil dimmed raw-materials and energy producers' profit outlook.
Barrick Gold Corp. and Suncor Energy Inc. paced declines among commodity shares. Losses in the broader market were limited as Cognos Inc. gained on a $4.9 billion takeover offer from International Business Machines Corp.
The Standard & Poor's/TSX Composite Index fell 84.91, or 0.6 percent, to 13,784.91 as of 9:38 a.m. in Toronto. The benchmark had its biggest weekly loss in three months last week as technology stocks snapped a rally led by Research In Motion Ltd., and as concern that credit losses will widen drove down financial shares.
Gold fell in London as investors judged a five-week rally that took bullion to within 0.5 percent of a record was overdone. Copper fell to a two-month low and zinc dropped to the lowest in 19 months, in London.
Crude oil fell as signs of slowing growth in the U.S. economy dented confidence that prices will reach $100 a barrel.
Suncor Energy, the world's second-largest oil-sands miner, may decline C$1.47 to C$100.75. EnCana Corp., Canada's biggest natural- gas producer, fell C$1.22 to C$66.21.
Barrick Gold, the largest bullion miner, retreated C$1.06 to C$41.85. Smaller rival Goldcorp Inc. fell C$1.60 to C$31.22.
Teck Cominco Ltd., the second-largest zinc miner, retreated C$1.11 to C$43.53.
Cognos advanced C$4.58, or 9.2 percent, to C$54.61. IBM, the world's biggest computer-services company, agreed to buy Cognos, Canada's largest publicly traded software firm, for $58 a share, equivalent to C$55.54, according to a statement from Armonk, New York-based IBM.
Some Canadian financial shares advanced after the three biggest U.S. banks agreed on the structure of a fund to help revive the market for short-term debt.
Bank of Montreal, Canada's fourth-largest lender, gained 49 cents to C$57.01. Bank of Nova Scotia, the nation's third-biggest bank, rose 26 cents to C$50.32.
financial-markets-a.com
Barrick Gold Corp. and Suncor Energy Inc. paced declines among commodity shares. Losses in the broader market were limited as Cognos Inc. gained on a $4.9 billion takeover offer from International Business Machines Corp.
The Standard & Poor's/TSX Composite Index fell 84.91, or 0.6 percent, to 13,784.91 as of 9:38 a.m. in Toronto. The benchmark had its biggest weekly loss in three months last week as technology stocks snapped a rally led by Research In Motion Ltd., and as concern that credit losses will widen drove down financial shares.
Gold fell in London as investors judged a five-week rally that took bullion to within 0.5 percent of a record was overdone. Copper fell to a two-month low and zinc dropped to the lowest in 19 months, in London.
Crude oil fell as signs of slowing growth in the U.S. economy dented confidence that prices will reach $100 a barrel.
Suncor Energy, the world's second-largest oil-sands miner, may decline C$1.47 to C$100.75. EnCana Corp., Canada's biggest natural- gas producer, fell C$1.22 to C$66.21.
Barrick Gold, the largest bullion miner, retreated C$1.06 to C$41.85. Smaller rival Goldcorp Inc. fell C$1.60 to C$31.22.
Teck Cominco Ltd., the second-largest zinc miner, retreated C$1.11 to C$43.53.
Cognos advanced C$4.58, or 9.2 percent, to C$54.61. IBM, the world's biggest computer-services company, agreed to buy Cognos, Canada's largest publicly traded software firm, for $58 a share, equivalent to C$55.54, according to a statement from Armonk, New York-based IBM.
Some Canadian financial shares advanced after the three biggest U.S. banks agreed on the structure of a fund to help revive the market for short-term debt.
Bank of Montreal, Canada's fourth-largest lender, gained 49 cents to C$57.01. Bank of Nova Scotia, the nation's third-biggest bank, rose 26 cents to C$50.32.
financial-markets-a.com
CCR, Petrobras, TAM, Usiminas and Vale: Brazil Equity Movers
Brazil's main stock index fell for the first time in three days, led by state-controlled oil company Petroleo Brasileiro SA.
The Bovespa Index of the most-traded shares on the Sao Paulo exchange dropped 1117.26, or 1.7 percent, to 63,203.30 as of 9:41 a.m. New York time.
The following are among the most active stocks in the Brazilian market today. In Brazil, the preferred share is usually the company's most-traded class of stock.
Cia. de Transmissao de Energia Eletrica Paulista (TRPL4 BS) rose for the first time in four days, adding 1.12 real, or 2.8 percent, to 41.32 reais. Third-quarter earnings before interest, taxes, depreciation and amortization were ``well above our estimate'' due to lower costs and increased revenue, Bear Stearns & Co. analysts Rowe Michels and Stewart Ragar wrote in an e-mailed report.
Cia. Vale do Rio Doce (VALE5 BS), the world's second-biggest nickel producer, fell 1.25 real, or 2.4 percent, to 52.05 reais. Metals including copper and nickel fell in London on concern demand is slowing.
Empresa Brasileira de Aeronautica SA (EMBR3 BS) rose for the first time in three days, gaining 28 centavos, or 1.4 percent, to 20.78 reais. The Brazilian maker of mid-size jetliners for regional carriers won an order from Virgin Nigeria for 10 Embraer E-jets and 14 options for planes, an order valued at $811 million. Embraer announced the order in a Nov. 11 statement distributed at the Dubai Air Show. The company also won a $300 million order from Al Jaber Group of the United Arab Emirates, Al Jaber said today in an e- mailed statement.
Obrascon Huarte Lain Brasil (OHLB3 BS), Brazil's second- biggest toll-road operator, rose 65 centavos, or 2.7 percent, to 24.65 reais. Third-quarter profit rose 20 percent to 27.1 million reais ($15.4 million). That beat the 23.6 million reais estimated by Bear Stearns & Co. analyst Sara Delfim in a report e-mailed before earnings were released this morning on Brazil's securities regulator Web site.
Cia. de Concessoes Rodoviarias (CCRO3 BS), Brazil's biggest toll-road operator, gained 40 centavos, or 1.4 percent, to 30.10 reais. Third-quarter earnings per shares at Brazil's biggest toll- road operator climbed more than expected because of lower financial expenses, Delfim wrote in an e-mailed report.
financial-markets-a.com
The Bovespa Index of the most-traded shares on the Sao Paulo exchange dropped 1117.26, or 1.7 percent, to 63,203.30 as of 9:41 a.m. New York time.
The following are among the most active stocks in the Brazilian market today. In Brazil, the preferred share is usually the company's most-traded class of stock.
Cia. de Transmissao de Energia Eletrica Paulista (TRPL4 BS) rose for the first time in four days, adding 1.12 real, or 2.8 percent, to 41.32 reais. Third-quarter earnings before interest, taxes, depreciation and amortization were ``well above our estimate'' due to lower costs and increased revenue, Bear Stearns & Co. analysts Rowe Michels and Stewart Ragar wrote in an e-mailed report.
Cia. Vale do Rio Doce (VALE5 BS), the world's second-biggest nickel producer, fell 1.25 real, or 2.4 percent, to 52.05 reais. Metals including copper and nickel fell in London on concern demand is slowing.
Empresa Brasileira de Aeronautica SA (EMBR3 BS) rose for the first time in three days, gaining 28 centavos, or 1.4 percent, to 20.78 reais. The Brazilian maker of mid-size jetliners for regional carriers won an order from Virgin Nigeria for 10 Embraer E-jets and 14 options for planes, an order valued at $811 million. Embraer announced the order in a Nov. 11 statement distributed at the Dubai Air Show. The company also won a $300 million order from Al Jaber Group of the United Arab Emirates, Al Jaber said today in an e- mailed statement.
Obrascon Huarte Lain Brasil (OHLB3 BS), Brazil's second- biggest toll-road operator, rose 65 centavos, or 2.7 percent, to 24.65 reais. Third-quarter profit rose 20 percent to 27.1 million reais ($15.4 million). That beat the 23.6 million reais estimated by Bear Stearns & Co. analyst Sara Delfim in a report e-mailed before earnings were released this morning on Brazil's securities regulator Web site.
Cia. de Concessoes Rodoviarias (CCRO3 BS), Brazil's biggest toll-road operator, gained 40 centavos, or 1.4 percent, to 30.10 reais. Third-quarter earnings per shares at Brazil's biggest toll- road operator climbed more than expected because of lower financial expenses, Delfim wrote in an e-mailed report.
financial-markets-a.com
суббота, 10 ноября 2007 г.
U.S. Stocks Decline to Two-Month Low; Qualcomm, Target Retreat
U.S. stocks fell to the lowest levels in two months after Qualcomm Inc. trimmed its profit forecast and analysts said earnings at 3M Co. and Target Corp. will be reduced by a slowdown in consumer spending.
Qualcomm, the second-biggest maker of mobile-phone chips, helped send technology shares to the steepest weekly drop in five years. 3M, the maker of 50,000 products, tumbled to a six-month low and Target led retailers to the eighth decline in nine days. Fannie Mae slid after saying mortgage-related losses increased. The fall in stocks triggered a rally in Treasuries, sending three-month yields to the lowest in almost three months.
The Standard & Poor's 500 Index lost 21.07, or 1.4 percent, to 1,453.7, trimming its gain to 3 percent since the Federal Reserve cut its discount rate on Aug. 17. The Dow Jones Industrial Average slumped 223.55, or 1.7 percent, to 13,042.74. The Nasdaq Composite Index declined 68.06, or 2.5 percent, to 2,627.94. About three stocks fell for every one that rose on the New York Stock Exchange.
``It's going to take some time for these problems to work their way through the financial system,'' said Matt DiFilippo, a Pittsburgh-based senior portfolio manager at Stewart Capital Advisors LLC, which has about $1 billion under management. ``They might provide a cap on the market, particularly when you start to see an overflow into what most would believe are non-related sectors.''
microcapcompanies.com
Qualcomm, the second-biggest maker of mobile-phone chips, helped send technology shares to the steepest weekly drop in five years. 3M, the maker of 50,000 products, tumbled to a six-month low and Target led retailers to the eighth decline in nine days. Fannie Mae slid after saying mortgage-related losses increased. The fall in stocks triggered a rally in Treasuries, sending three-month yields to the lowest in almost three months.
The Standard & Poor's 500 Index lost 21.07, or 1.4 percent, to 1,453.7, trimming its gain to 3 percent since the Federal Reserve cut its discount rate on Aug. 17. The Dow Jones Industrial Average slumped 223.55, or 1.7 percent, to 13,042.74. The Nasdaq Composite Index declined 68.06, or 2.5 percent, to 2,627.94. About three stocks fell for every one that rose on the New York Stock Exchange.
``It's going to take some time for these problems to work their way through the financial system,'' said Matt DiFilippo, a Pittsburgh-based senior portfolio manager at Stewart Capital Advisors LLC, which has about $1 billion under management. ``They might provide a cap on the market, particularly when you start to see an overflow into what most would believe are non-related sectors.''
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Citadel Broadcasting, E*Trade, Lions Gate: U.S. Equity Preview
The following is a list of companies whose shares may have unusual price changes in U.S. exchanges Nov. 12. Stock symbols are in parentheses after company names and share prices are as of 8:45 p.m. New York time today.
Citadel Broadcasting Corp. (CDL:US): The radio company putting Don Imus back on the air, rose 24 cents, or 10 percent to $2.64 after the close of markets. The shares had dropped $1.46, or 38 percent, to $2.40 during regular hours after it reported a third-quarter loss to write down the value of its stations.
E*Trade Corp. (ETFC:US): The online brokerage dropped $1.24, or 14 percent, to $7.35 in after hours trading. The company said earnings will fall short of the company's forecast because of a drop in the value of some asset-backed securities.
Halozyme Therapeutics Inc. (HALO:US): The maker of human enzymes for use in infertility and oncology cases rose 45 cents, or 5.8 percent, to $8.23 in after-hours trading. The company is being added to the Nasdaq Biotechnology Index, effective Nov. 19.
Lions Gate Entertainment Corp. (LGF:US): The largest independent U.S. film studio said second-quarter loss widened to 47 cents a share from 14 cents a year earlier on costs to market its movies. The stock rose 15 cents to $10.52 in regular trading.
National City Corp. (NCC:US): Ohio's largest bank said it reduced its third-quarter earnings by 18 cents a share, pushing the bank to a loss for the period. The stock fell 66 cents, 3.2 percent, in after-hours trading, to $20.20.
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Citadel Broadcasting Corp. (CDL:US): The radio company putting Don Imus back on the air, rose 24 cents, or 10 percent to $2.64 after the close of markets. The shares had dropped $1.46, or 38 percent, to $2.40 during regular hours after it reported a third-quarter loss to write down the value of its stations.
E*Trade Corp. (ETFC:US): The online brokerage dropped $1.24, or 14 percent, to $7.35 in after hours trading. The company said earnings will fall short of the company's forecast because of a drop in the value of some asset-backed securities.
Halozyme Therapeutics Inc. (HALO:US): The maker of human enzymes for use in infertility and oncology cases rose 45 cents, or 5.8 percent, to $8.23 in after-hours trading. The company is being added to the Nasdaq Biotechnology Index, effective Nov. 19.
Lions Gate Entertainment Corp. (LGF:US): The largest independent U.S. film studio said second-quarter loss widened to 47 cents a share from 14 cents a year earlier on costs to market its movies. The stock rose 15 cents to $10.52 in regular trading.
National City Corp. (NCC:US): Ohio's largest bank said it reduced its third-quarter earnings by 18 cents a share, pushing the bank to a loss for the period. The stock fell 66 cents, 3.2 percent, in after-hours trading, to $20.20.
microcapcompanies.com
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