Latest News In Stock Market Investment Research – June 04, 2010

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

Rockhopper Exploration shares surge

4 Jun 2010 at 1:53am

LONDON (MarketWatch) — Rockhopper Exploration shares surged 37% after it said Friday that samples from the the Sea Lion 14/10-2 oil well in the North Falkland Basin confirmed medium gravity crude oil at the well. Recoverable estimates have been upgraded from 170 mmbbls to 242 mmbbls with significant upside potential. The firm said it intends to test the well at the earliest opportunity during the current campaign.

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.


BSkyB upped at J.P. Morgan, margins to rise

4 Jun 2010 at 1:24am

LONDON (MarketWatch) — J.P. Morgan Cazenove on Friday raised its rating on U.K. satellite broadcaster British Sky Broadcasting to overweight from neutral, saying margins have reached an inflection point and that strong earnings growth looks achievable. The broker told clients that it expects to see strong product additions, revenue growth and margin expansion in the coming quarters. BSkyB is roughly 40%-owned by News Corp., the parent of MarketWatch.

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 edge higher ahead of jobs data

4 Jun 2010 at 12:07am

LONDON (MarketWatch) — European shares edged higher on Friday, led by oil companies, with gains muted ahead of key U.S. jobs data due out later in the session. In the oil sector BP shares rose 4.2% after reports that the firm has placed a cap over the leaking pipe in the Gulf of Mexico. The U.K. FTSE 100 index rose 0.3% to 5,225.81, the German DAX index climbed 0.5% to 6,085.62 and the French CAC-40 index advanced 0.4% to 3,574.56.

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.


BP places cap on leak, but success still unclear

4 Jun 2010 at 12:02am

LONDON (MarketWatch) — Oil giant BP has placed a cap over the leaking pipe in the Gulf of Mexico, but it remains unclear how successful the latest move will be in capturing the oil, according to media reports. U.S. Coast Guard Admiral Thad Allen said late Thursday that the placement of the containment device was a positive step, but that it would still be some time before the company can confirm that it has worked, Dow Jones Newswires reported. BP managed to successfully sever the leaking pipe earlier Thursday, but it had to resort to using shears, rather than a saw, meaning the cut was rougher than the company had hoped. That means it will be harder to ensure the containment cap is properly sealed.

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.


Aviva upgraded to buy at Goldman Sachs

3 Jun 2010 at 11:57pm

LONDON (MarketWatch) — Insurer Aviva was upgraded to buy from neutral at Goldman Sachs on Friday and added to the broker’s conviction list and its U.K. relative value list. “In our opinion, Aviva’s share price has been disproportionately affected by European sovereign credit concerns and the potential for a large rights issue in the sector,” they said.
Investors may increasingly look to IFRS-based valuations, which should support Aviva, they 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.


STMicroelectronics upped to neutral at UBS

3 Jun 2010 at 11:50pm

LONDON (MarketWatch) — Chipmaker STMicroelectronics was upgraded to neutral from sell on Friday at UBS. The broker said that, while many long-term structural concerns on the firm remain, valuation is not stretched, the firm is a strong beneficiary of recent currency moves, IMS/ACCI markets remain robust and the shift to newer products within IMS should aid gross margin mix.

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.


Scottish & Southern buying assets from Hess

3 Jun 2010 at 11:44pm

LONDON (MarketWatch) — Scottish & Southern Energy said Friday that the rights of pre-emption associated with its North Sea natural gas and infrastructure deal with Hess have now either been exercised or expired and that almost 80% of the resources from the original package of around 383 billion cubic feet are still available for it to acquire. The company said it will pay a revised cash consideration of $324 million for the assets. “It was to be expected that some of Hess’ existing partners would exercise their pre-emption rights, but we are very pleased with the assets which we can now go ahead and acquire. For a fair price, we will secure a new source of primary fuel and a hedge for our gas generation and supply activities, taking a very useful first step into the upstream gas sector,” said Alistair Phillips-Davies, energy supply director of SSE.

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.


Prudential managers won’t quit over AIG: report

3 Jun 2010 at 11:37pm

LONDON (MarketWatch) — Harvey McGrath, chairman of U.K. life insurer Prudential told the Financial Times in an interview that there will be no resignations from the firm following the collapse of its $35.5 billion deal to acquire the Asian assets of American International Group. McGrath said the firm’s management has the full support of the board and the majority of big shareholders and added that those shareholders who have called for resignations are “outliers,” the report said. Speculation about the resignation of McGrath or CEO Tidjane Thiam has been rife since AIG refused to cut the price of the deal.

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.


Sanofi-Aventis signs license pact with Ascenta

3 Jun 2010 at 11:36pm

LONDON (MarketWatch) — French drugmaker Sanofi-Aventis said Friday that it has signed a global collaboration and licensing agreement with Ascenta Therapeutics. The deal covers a number of compounds that could restore tumor cell apoptosis. Sanofi-Aventis will receive an exclusive worldwide license to develop, manufacture and commercialize all compounds issued from this program. Two compounds, MI-773 and MI-519-64, are currently expected to enter preclinical development in 2010. Ascenta will receive an upfront payment, as well as development, regulatory and commercial milestone payments. Payments could reach $398 million. Ascenta is also eligible to receive tiered royalties on worldwide product sales.

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.


EasyJet carried 7.9% more passengers in May

3 Jun 2010 at 11:23pm

LONDON (MarketWatch) — Low cost airline easyJet said Friday that it carried 4.26 million passengers in May, up 7.9% from the same point last year. Load factor rose to 85.8%, from 83.5%. The firm said that passenger statistics for May were hit by a number of cancellations due to volcanic ash. Around 1,600 flights were cancelled affecting approximately 215,000 passengers, the firm noted.

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.


AstraZeneca submits Axanum marketing application

3 Jun 2010 at 11:18pm

LONDON (MarketWatch) — Drugmaker AstraZeneca said Friday that it has submitted a marketing authorisation application in the European Union for a product combining low-dose acetylsalicylic acid and the active ingredient of its Nexium drug. The product will be used for the prevention of cardio and cerebrovascular events in patients requiring continuous low-dose ASA treatment who are at risk of developing ASA-associated gastric and/or duodenal ulcers. Pending approval, the proposed trade name for the product is Axanum.

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.


Japan ruling party elects Naoto Kan as chief

3 Jun 2010 at 8:20pm

TOKYO (MarketWatch) — The ruling Democratic Party of Japan Friday elected Finance Minister Naoto Kan as its new party chief, as widely expected. The winner of the DPJ’s election will become Japan’s fifth prime minister in three years, after unpopular leader Yukio Hatoyama stepped down Wednesday. Kan defeated challenger Shinji Tarutoko, a relatively unknown law maker. Kan is known for having stated his preference for a weaker yen in the past, but some analysts don’t believe a Kan administration will lead to any significant changes to Japan’s currency policies.

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.


Hong Kong, China shares fall; defensive stocks up

3 Jun 2010 at 7:20pm

TOKYO (MarketWatch) — Shares in Hong Kong and China fell in early trading Friday with resource shares trading broadly lower but defensive shares, particularly power stocks, inching higher. Hong Kong’s Hang Seng was down 0.6% at 19,676.95 and China’s Shanghai Composite fell to 2,536.97, down 0.6%. Shares of Cnooc lost 1.3%, Angang Steel Co. lost 3.6%, while Dongfang Electric Corp. added 1.9% in Hong Kong. In Shanghai, Shandong Gold-Mining Co. fell 2.7% while Sichuan Changhong Electric Co. added 1.4%.The Hang Seng China Enterprises fell 1%.

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.


Australia shares fall as banks, resources slip

3 Jun 2010 at 6:01pm

TOKYO (MarketWatch) — Australian shares fell Friday morning with shares of financials and resource firms posting some of the larger declines after losses among their U.S. peers Thursday. The S&P/ASX 200 fell 0.8% to 4,451.4. Shares of BHP Billiton Ltd. fell 2.7%, Aquarius Platinum Ltd. lost 3.7% and Westpac Banking Corp. fell 1.1%.

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.


Japan shares edge up; Fuji Heavy among big gainers

3 Jun 2010 at 5:25pm

TOKYO (MarketWatch) — Japanese shares edged higher Friday morning in Tokyo, with Fuji Heavy Industries Ltd. among the bigger gainers. The Nikkei Stock Average added 0.1% to 9,921.10 and the broader Topix was at 891.87, up 0.1%. Shares of Fuji Heavy climbed 5.3% after the Nikkei business daily reported that the company is expected to post a record operating profit for the North American region this fiscal year because of strong sales and output streamlining. Mitsubishi Heavy Industries Ltd.’s also saw its stock rise 2.4%. The firm aims to secure 3 trillion yen ($32.4 billion) in environment- and energy-related businesses orders a year by 2014, the Nikkei reported, citing a company business briefing Thursday. Elsewhere, South Korea’s Kospi was nearly flat while Australia’s S&P/ASX 200 was 0.4% lower.

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:

June 04 2010 01:28 am | Stock Market News

Trackback URI | Comments RSS

Leave a Reply

Related Posts from the Past: