Fresenius to Acquire APP Pharma for $3.7 B
Jul 07, 11:43 AM EDT |
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| 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. |
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| 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. |
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Stocks, Oil, Gold Fall, Fed Wants Bigger Role
Jul 08, 5:20 PM EDT |
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| The regulator that oversees two mortgage lenders Fannie and Freddi said that it may not ask two lenders to seek new capital. |
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| tU.S. stocks edge higher in the trading afer wholesale sales rise in May. Commodities prices fell for the second day with a sharp decline in crude oil, natural gas and base metal prices. The Federal Reserve chief Bernanke proposes to widen the Fed role and increase lending to financial brokerage firms. Fannie Mae and Freddie Mac may not have to seek additional capital according to the regulator that regulates two mortgage lenders. Asian markets fell sharply in the overnight trading. |
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Fannie, Freddie Sell-Off; Weak Financials
Jul 07, 10:40 PM EDT |
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| 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. |
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| 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. |
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U.S. Stocks Rise, Yahoo, GM Up, Europe Up 2%
Jul 07, 10:16 AM EDT |
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| U.S. stocks edge higher on 3% decline in crude oil price and talks of asset sale at General Motors. |
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| 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. |
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European Banks, UK Home Builders Fall
Jul 04, 5:20 PM EDT |
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| European banks and UK home builders closed sharply lower on the worries that additional capital may be difficult to raise. |
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| European stocks closed lower after crude oil traded at another record high and prospect more capital raising from European banks. Benchmark indexes in UK, France, Germany and Switzerland fell. Swedbank dropped 6% and Banco Santander lost 4%. Banks may need as much as $90 billion to meet their required capital reserves. UK stocks fell after a private equity fund decided not to proceed with investment in home builder Bradfod & Bingley. |
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U.S. Techs Struggle, Crude Oil at $145
Jul 03, 7:51 PM EDT |
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| U.S. Stocks struggled, European markets closed higher and Latin Amercan markets closed lower led by a sharp decline in Peu and Brazil. |
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| U.S. stocks edged higher but tech stocks remain weak as they have been in the past one month of trading. Crude oil traded at record level as specluators, weak dollar and steady demand drive oil prices. Tech stocks fell, led by weak semiconductor stocks after Nvidia cut its revenue and gross margin guidance. ECB in Europe, raised its key rate by 0.25% to 4.25%. Vodafone agreed to acquire 70% stake in Ghana Telecom to tap into one of the fastest growing wireless markets. |
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Penn National Deal Falls, Yahoo Talks
Jul 03, 2:20 PM EDT |
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| Talks to convince Yahoo to break the company and sell different businesses to Microsoft, AOL and News Corp appear to be back on track. |
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| Tech stocks fell for the second day on the weak chip makers and tech services companies. Nvidia plunged 30% after it issued lower revenue and gross margin guidance. The chipmaker will also take a charge of $150 millino in the second quarter. Citigroup, Cowen and Goldman Sachs lowered pricce traget and investment rating on the stock. European markets closed higher on the hopes that latest interest rate increase may not be followed by another rate hike in the near future. |
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June Job Loss, ECB Raise Rates
Jul 03, 12:16 PM EDT |
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| U.S. lost 62,000 jobs in June and unemployment rate in the month was 5.5%. European Central Bank lifted its key rate. |
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| U.S. payrolls declined in June 62,000 totaling to job losses of 438,000 for te first six months of the year. Economy has been losing jobs as construction, banking and retail industries have been laying off people. Separately the European Central Bank raised its key rate by 25 basis points to 4.25%. |
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Dow, Nasdaq Down 20%
Jul 02, 7:16 PM EDT |
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| U.S. stocks fell sharply after fears of recession and rising crude oil prices turned investors cautious. Popular indexes are down 20% for the year. |
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| U.S. stocks fell shaprly as investors feared recession, higher fuel and energy prices and weakening corporate profits. Cyclical stocks of miners, steel makers and industrial companies fell. Coal miners, Peabody and Massey Energy plunged. Transportation stocks fell on record price in crude oil and a prospect of higher energy prices in the near future. Airlines, railroads and freight companies declined. European markets closed lower. Brazil, Canda and Argentina closed down 3% or more. |
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GM Down 12%, Deutsche Bank Rises 4%
Jul 02, 3:06 PM EDT |
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| General Motors dragged market averages for the second day, but lower today after comments from Merrill Lynch. |
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| U.S. stocks took a negative turn after the new worries resurfaced about General Motors. Merrill Lynch analyst estimated that the company may need more capital than previously estimated as it burns cash and sales decline and did not rule out the bankruptcy alternative. General Motors dropped 12% on the comments and dragged market indexes lower. In Europe, banks rallied after Deutsche Bank affirmed its guidance of profitability and UBS said that for now it has sufficient capital. |
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