Latest News In Stock Market Investment Research - Dec 19, 2008

Please note it is your responsibility to evaluate the accuracy, completeness and usefulness of any information, opinion or advice contained in the content below.

Dassault Aviation buys Alcatel-Lucent’s Thales stake

19 Dec 2008 at 2:14am

LONDON (MarketWatch) — Alcatel-Lucent on Friday said it has sold its nearly 21% stake in avionics expert Thales to Dassault Aviation for 38 euros a share, or about 1.57 billion euros ($2.24 billion).

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

Air Berlin shares jump after potential stake buy report

19 Dec 2008 at 1:47am

LONDON (MarketWatch) — Shares in German low cost carrier Air Berlin jumped 11.9% on Friday morning. Abu Dhabi-based Etihad Airways is interested in buying a stake in the firm, the Sueddeutsche newspaper reported without citing sources. Air Berlin wasn’t immediately available for comment, Dow Jones Newswires reported.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

European shares fall in early trading

19 Dec 2008 at 1:07am

LONDON (MarketWatch) — European shares fell in early trading on Friday, pulled down by more losses from oil majors as crude futures continued to hover near multi-year lows. BP shares dropped 2.6%, while Total [s; tot] shares fell 2%. Meanwhile, shares in Anglo Irish Bank fell 21.7% after its chairman resigned over a loan transfer. Overall, the U.K. FTSE 100 index fell 1.1% to 4,281.95, the German DAX 30 index fell 1.2% to 4,700.17 and the French CAC-40 index lost 1.4% to 3,190.67.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

Natixis to cut 840 jobs, reduce proprietary trading

19 Dec 2008 at 12:50am

LONDON (MarketWatch) — French investment bank Natixis said Friday that it will cut 840 jobs by the end of next year and scale back its corporate and investment banking operations. The group said it will halt proprietary investment activity in credit and structured credit and will also cease its more complex capital market activities, such as complex equity and fixed income derivatives. The bank intends to refocus on its traditional clients, such as major corporates in France, and plans to significantly reduce its activity in Asia and the U.S. as well as close offices in South America and abandon development projects in India and Korea.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

ABB to take $850 million charge, slash costs

19 Dec 2008 at 12:30am

LONDON (MarketWatch) — Switzerland’s ABB said Friday that it will book pretax provisions of $850 million in the fourth quarter to cover potential costs related to regulatory investigations in the U.S. and Europe. The previously-disclosed investigations are probing suspect payments and alleged anti-competitive practices, the power and automation technology group said. The provisions will also cover the impact of a tax dispute and write-downs related to a weaker business environment. ABB said its order intake for October and November reflected weakening market conditions and added earnings will be hit by volatility in exchange rates and commodity prices. The company will launch a $1 billion cost reduction program, with more details to be announced in February, but added it remains confident of hitting its 2008 growth targets.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

Roche says MabThera study met primary endpoint

19 Dec 2008 at 12:28am

LONDON (MarketWatch) — Swiss drugmaker Roche said Friday that the radiographic Image study investigating MabThera (rituximab) in combination with methotrexate (MTX) met its primary endpoint of significantly preventing structural damage to joints in patients with early rheumatoid arthritis. Results from the Image study showed that, at one year after initiating treatment with MabThera in combination with MTX, a significant reduction in the rate of progressive joint damage was observed, compared to initiating treatment with MTX alone. Roche plans to file the Image data, together with data from two other studies, with the European Health authorities in 2009 to extend the current label for MabThera.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

Skyepharma says U.S. formoterol Certihaler talks have ended

19 Dec 2008 at 12:24am

LONDON (MarketWatch) — Pharmaceutical firm Skyepharma said Friday that talks over commercializing its approved formoterol Certihaler in the United States in 2009 have ceased. This follows last week’s recommendation by the Joint Advisory Committees to the Food and Drug Administration that the benefits did not outweigh the risks in the current asthma indications for long acting beta agonists administered alone. Stopping production for formoterol Certihaler will result in asset write downs and a related non-cash charge estimated at 7 million pounds to 8 million pounds. This is likely to be charged in the 2008 results. “We remain confident of the prospects of our other pipeline products including Flutiform, which remains on track for filing in the first-quarter of 2009,” said Ken Cunningham, CEO.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

Anglo Irish Bank chairman resigns over loan transfer

19 Dec 2008 at 12:18am

LONDON (MarketWatch) — Anglo Irish Bank said Friday that chairman Sean Fitzpatrick has resigned, effective immediately. Donal O’Connor has been appointed chairman. FitzPatrick’s decision to resign is based on the fact that, over a period of eight years to 2007, he temporarily transferred loans with Anglo Irish Bank to another bank prior to the group’s year end. This transfer was inappropriate from a transparency point of view, the firm said. At Sep. 30, the loans to Sean FitzPatrick totalled 87 million euros. The total for directors’ loans at that date was 150 million euros. The board has decided to initiate a formal review of governance including policy and practice relating to the directors loans.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

Bank of Japan cuts key interest rate to 0.1% from 0.3%

18 Dec 2008 at 10:23pm

HONG KONG (MarketWatch) — The Bank of Japan cut its key interest rate to 0.1% from 0.3% Friday, marking its second rate reduction this year in the wake of worsening economic indicators. The central bank’s board voted 7-1 for the cut, with Tadao Noda opposed. The central bank last had lowered the rate in October, also by 0.2 percentage points.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

Tokyo stocks move in a range in early trading

18 Dec 2008 at 5:37pm

HONG KONG (MarketWatch) — Japanese stocks moved in a range around break-even Friday after a decline on Wall Street and ahead of Bank of Japan’s decision on interest rates, with property shares rising while Toyota Motor Corp. dropped on a report it may post an operating loss during the current financial year. The Nikkei 225 Average fell 0.2% to 8,650.99 after briefly moving into positive territory, while the broader Topix index rose 0.2% to 839.92. New Zealand’s NZX 50 index lost 0.8% to 2,685.80 and Australia’s S&P/ASx 200 slipped 0.6% to 3,560.50. South Korea’s Kospi rose 0.4% to 1,181.10.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

OfficeMax suspends quarterly dividend

18 Dec 2008 at 3:47pm

SAN FRANCISCO (MarketWatch) — OfficeMax Inc. said late Thursday that its board voted to suspend the quarterly dividend because of weak economic conditions. The suspension will save the company about $45 million a year, OfficeMax said.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

Potash lowers 2008 earnings outlook

18 Dec 2008 at 3:36pm

SAN FRANCISCO (MarketWatch) — Potash Corp. of Saskatchewan said late Thursday that it lowered its full-year earnings guidance because of softness in global fertilizer demand. Potash sees full-year earnings of about $10.75 a share, about 10% below the midpoint the company’s last indicated guidance range. Analysts surveyed by FactSet Research expect $11.58 a share. Potash shares fell 5.1% to $12.05 in after-hours activity.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

Choice Hotels raises stock buyback plan by 5 mln shares

18 Dec 2008 at 3:17pm

SAN FRANCISCO (MarketWatch) — Choice Hotels International Inc. said late Thursday that its board authorized an increase of the company’s current stock buyback program by 5 million shares. The increase brings the company’s buyback authorization to about 6 million shares. Choice Hotels has about 60.8 million shares of common stock outstanding.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

Moody’s lowers ratings at Citigroup, Citibank

18 Dec 2008 at 2:58pm

SAN FRANCISCO (MarketWatch) — Moody’s Investors Service said late Thursday it lowered ratings of Citigroup Inc. because of a very high probability of systemic federal support. Moody’s cut Citigroup’s senior debt rating to A2 from Aa3, and the long-term bank deposit rating on Citibank N.A. to Aa3 from Aa1. Moody’s also lowered the financial strength rating on the bank three notches to C from B, which translates to a change in the baseline credit assessment to A3 from Aa3. The outlook on the bank financial strength rating is negative, and the rating outlooks on the deposit and debt ratings are stable. Moody’s said the actions had no impact on the FDIC-guaranteed debt issued by Citigroup which remained at Aaa with a stable outlook. Citigroup shares fell 1.5% to $7.32 in after-hours activity.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

Accenture says quarterly net income rises 26%

18 Dec 2008 at 2:46pm

SAN FRANCISCO (MarketWatch) — Accenture Ltd. said late Thursday that fiscal first-quarter net income came in at $479.9 million, up 26% from a year earlier when the consulting and out-sourcing firm made $381.3 million. Net income per share, which includes minority interests in some Accenture businesses, came in at 74 cents versus 60 cents a year earlier. Net revenues were $6.02 billion, up 6% in U.S. dollars. Operating income grew 12% to $815 million and the operating margin increased by 70 basis points to 13.5%, Accenture reported.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

Related Articles on Stock Market Investments.com

Latest News (external links)

Recent Articles on this site

Free Newsletter

Sign up for the free Daily newsletter, filled with tips and advice on Stock Market Investing, Stock Market Fundamentals, Day Trading, Online Trading, Commodities, Mutual Funds, Foreign Exchange and Options. Your email address will be kept confidential and won't be shared. Easily unsubscribe at any time.

If you enjoy the free information available on this site, you're sure to enjoy the free newsletter as well:

Enter your email address:

Delivered by FeedBurner

Site Search Tags:

Share and Enjoy:

December 19 2008 01:40 am | Stock Market Online Trading

Trackback URI | Comments RSS

Leave a Reply

Related Posts from the Past: