|
|
|
FTSE 100 Rises 1.9%
Jul 07, 3:26 PM EDT |
|
| Commodity stocks drove the market upwards on speculations that the stocks were oversold in the previous trading sessions. |
|
| Stocks in UK fell despite a government report that showed UK manufacturing unexpectedly fell in the three months to May as machinery and equipment industries lost ground. In addition, a report released today by KPMG and the Recruitment and Employment Confederation indicated that permanent staff placements fell the most in five years. |
|
|
Full Story... |
Fresenius to Acquire APP Pharma for $3.7 B
Jul 07, 11:43 AM EDT |
|
| Fresenius could pay up to $4.7 billion or an additional $6 per share for APP if the latter achieves set profit targets between now and 2010. |
|
| German healthcare concern Fresenius agreed to pay $23 a share for the US injectable drug maker APP Pharmaceuticals. Fresenius will assume APP’s outstanding debt of $940 million. APP employs 1,400 workers and its drug portfolio encompasses over 100 products. In 2007, Fresenius achieved sales of €11.4 billion while APP posted a profit of $253 million. Last year, Fresenius acquired Renal Solutions, adding to its kidney treatment units. |
|
|
Full Story... |
Fannie, Freddie Sell-Off; Weak Financials
Jul 07, 10:40 PM EDT |
|
| Stocks in the U.S. trading gyrated after financial stocks closed lower and dragged averages down. Fannie and Freddie may need $75 billion of capital. |
|
| Financial stocks fell sharply after the talks of another capital needs at two mortgage agencies Fannie Mae and Freddie Mac. The new accounting rule may require more debt to be consodilated on the balance sheet and force two largest mortgage agencies to raise as much as $75 billion in new capital according to Lehman analyst. Banks and financial brokerage stocks dropped. Euorpean stocks closed higher but Asian stocks continue to struggle in the early morning trading in the region. |
|
|
Full Story... |
U.S. Stocks Rise, Yahoo, GM Up, Europe Up 2%
Jul 07, 10:16 AM EDT |
|
| U.S. stocks edge higher on 3% decline in crude oil price and talks of asset sale at General Motors. |
|
| U.S. stocks trade higher after crude oil prices slide lower, renewed interest from Microsoft to negotiate with Yahoo and talks of asset sale at General Motors. Three widely followed indexes rise between 0.7% and 1.2%. European markets at mid-day trade up 2%. Stocks in emerging markets rebound around the world, after two weeks of selling, led by a 2% rise in Brazil and Hong Kong. The generic drug maker, APP Pharmaceuticals soared 30% after it agreed to purshase from Fresenius SE of Europe. |
|
|
Full Story... |
1
 |
|
