Latest News In Stock Market Investment Research – March 26, 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.

British Airways to fly 75% of customers

26 Mar 2010 at 2:59am

LONDON (MarketWatch) — British Airways on Friday said it will fly more than 75% of customers booked to travel between Saturday and next Tuesday despite a cabin-crew strike organized by the Unite trade union. The airline said that almost 60% of cabin crew are ignoring strike calls and reporting for work. British Airways will fly a fully normal scheduled from London’s City and Gatwick airport. At Heathrow, it will operate 70% of its long-haul schedule and 55% of its short-haul one, up from 60% and 30% during the strike that took place last weekend.

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.


Frontline issuing up to $225 million of bonds

26 Mar 2010 at 2:41am

LONDON (MarketWatch) — Frontline Ltd said Friday that it intends to issue up to $225 million in principal amount of convertible bonds with a five-year tenor. The tanker company said the senior unsecured bonds are convertible into common shares shares and that the bonds are expected to have an annual coupon in the range of 4% to 4.5% and a conversion premium of 30% to 35% over the volume-weighted average price of the company’s shares on the Oslo Stock Exchange. Frontline said the proceeds from the sale will be used for general corporate purposes, financing the remaining equity investments in the company’s newbuilding program and also will improve its ability “to react to attractive market opportunities.”

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.


Tom Tailor shares at 13.01 euros on first day

26 Mar 2010 at 1:25am

MADRID (MarketWatch) — Shares of German fashion retailer Tom Tailor Holding traded at 13.01 euros on their first day of trading in Frankfurt on Friday, against the offer price for shares of 13 euros. The company was offering 75% of the share capital worth 164.5 million euros ($220 million).

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.


News Corp.’s U.K. dailies to charge for online use

26 Mar 2010 at 1:18am

LONDON (MarketWatch) — News Corp. said Friday it will begin charging for the Web sites of British newspapers The Times and The Sunday Times, starting in June. Both sites will be available for one pound ($1.48) a day, or two pounds a week. The sites will come into existence in May, replacing the existing Times Online combined site. News Corp. also owns MarketWatch, the publisher of this report.

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.


Regus upgraded at Credit Suisse to outperform

26 Mar 2010 at 1:08am

LONDON (MarketWatch) — Regus was upgraded to outperform from neutral at Credit Suisse on Friday. “We had thought that occupancy in particular would have continued to decline throughout the first half of 2010 focusing investor attention on shorter-term earnings risk rather than longer-term value. But management now notes that pricing and occupancy has stabilized,” the broker said. “With a trough in the first-half, we expect earnings and cashflow to more than quadruple between from 2010 estimates to 2013 estimates,” the broker added. Shares rose 2.9%.

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.


Credit Suisse upgrades Premier Oil to outperform

26 Mar 2010 at 1:05am

LONDON (MarketWatch) — Credit Suisse upgraded Premier Oil to outperform from neutral on Friday. “With the shares at a 16% discount to our new net asset value and target price of 1436 pence, we think we get an attractive option on the 2010 drilling campaign and a production base that could more than double [over five years],” said the broker. Shares were up 2.5%.

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.


Parmalat upgraded to overweight at Morgan Stanley

26 Mar 2010 at 12:57am

MADRID (MarketWatch) — Italian dairy giant Parmalat was upgraded to overweight from equal weight on Friday at Morgan Stanley, which cites attractive valuations, solid fundamentals, options with cash and a catalyst that could moves stocks higher. Morgan Stanley raised its price target by 41% to 2.40 euros, implying a 22% upside, and lifted its 2012 earnings estimates by 17% owing to a view that the risk-reward is increasingly shifting to the upside. At 5.3 times 2010 earnings before interest, taxes, depreciation and amortization, the investment bank said the shares are the cheapest in the European staples sector, offering a 30% discount to comparable peers and a 50% discount to wider EU staples peers. Morgan Stanley said the April 1 annual general meeting will be a potential catalyst where there could be an amendment that would allow for larger cash returns.

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.


U.K. utilities cut by J.P. Morgan

26 Mar 2010 at 12:55am

LONDON (MarketWatch) — U.K. utilities were downgraded by J.P. Morgan as the broker argued they faced an uncertain environment: weak power prices, increasingly onerous environmental legislation, significant capital spending to replace ageing capacity and political uncertainty. International Power was cut to neutral from overweight and Scotish & Southern Electricity was downgraded to underweight from neutral.

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.


Greek banks surge on collateral, rescue plan

26 Mar 2010 at 12:49am

LONDON (MarketWatch) — Shares of Greek banks surged on Friday in early Athens trade after euro-zone nations on Thursday agreed a mechanism for providing support to the country and after the European Central Bank loosened collateral rules next year. Alpha Bank shares surged 9.1%, the National Bank of Greece rose 8.5% and EFG Eurobank Ergasias rallied 8.3%.

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.


Spyker loss narrows, sees up to 60,000 Saab sales

26 Mar 2010 at 12:48am

LONDON (MarketWatch) — Spyker Cars the sports car manufacturer that acquired Saab from General Motors earlier this year, said Friday that its 2009 net loss narrowed to 23 million euros ($30.7 million) from 24.8 million euros. Revenue declined 16% to 6.6 million euros as the company sold 36 cars compared to 37 a year earlier. Spyker completed its $74 million acquisition of Saab in February. The company said Friday that Saab is now back in full production after manufacturing was halted seven weeks prior to the deal. Sales volumes in 2010 are expected to be between 50,000 and 60,000 due to the loss of capacity in the first quarter. CEO Victor Muller said Saab only lost money for many of its years as part of GM because of the contributions it had to make to group overheads and development projects. He said the business can be profitable at production levels of around 120,000 units — which it achieved as recently as 2007.

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 Russia cuts interest rates to 8.25%

26 Mar 2010 at 12:47am

FRANKFURT (MarketWatch) — The Bank of Russia decided on Friday to cut its benchmark refinancing rate by 25 basis points to 8.25%, according to a statement on its Web site. The central bank expressed concern about the sustainability of the economic recovery. The reduction in interest rates aims to reduce the cost of borrowing, increase the availability of credit and boost domestic demand, the bank said in a statement. The Russian central bank has been gradually lowering the refinancing rate since April 2009, when the rate stood at 13%.

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.


J.P. Morgan ups Nokia, Research In Motion

26 Mar 2010 at 12:42am

LONDON (MarketWatch) — J.P. Morgan upped Nokia and Research In Motion to overweight from neutral, started Qualcomm at overweight and Motorola and Ericsson at underweight in a research note arguing 2010 will be the year of the mobile computer, or smartphone. “Smartphone prices look likely to drop, but we find that price elasticity is high and believe this bodes well for industry health,” the broker said. Google and Apple are well positioned for mobile content and advertising converging but Nokia, Research In Motion and Palm also have opportunities.

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.


Ericsson cut to sell from hold at Deutsche Bank

26 Mar 2010 at 12:19am

MADRID (MarketWatch) — Swedish mobile infrastructure group Ericsson was downgraded to sell from hold on Friday at Deutsche Bank, which said consensus expectations of a late-cycle recovery are unfounded. The investment bank said it expects revenue declines in 2010 and 2011 owing to falling global telecom capital expenditure, share losses in new contracts and limited exposure to data investment hot spots. Deutsche Bank also cut its price target on Ericsson to 65 Swedish krona from 70 krona, and cut earnings per share estimates by 12% to up to 15% below consensus for 2010 and 2011. They said there is now a risk of de-rating of shares.

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.


Siemens total sectors profit seen up in Q2 on year

26 Mar 2010 at 12:13am

FRANKFURT (MarketWatch) — German industrial conglomerate Siemens AG said Friday it expects its total sectors’ profit and its pre-tax profit to rise in the second quarter compared to the same period a year ago. In a presentation to investors on Friday, Siemens also forecast a decline in total new orders in the second quarter. The firm also reiterated its plans to review its earnings guidance by the end of April. Regarding the recent weakness of the euro, Joe Kaeser, CFO of Siemens, said: “A strong greenback is actually good for us.” Kaeser also called the recent passage of U.S. health-care reform legislation “courageous.” “We’re glad there’s certainty now,” he said. Based in Munich, Siemens operates in the industry, energy and health-care sectors.

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 back away from annual highs

26 Mar 2010 at 12:09am

LONDON (MarketWatch) — European shares edged lower on Friday, moving off annual highs, after Europe agreed a plan to support Greece if required. Banknote printer De La Rue declined 2.2% after updating investors while Fresenius [de: fre] shares were down 1.2% after a downgrade to neutral from buy at Goldman Sachs. The U.K. FTSE 100 index declined 0.1% to 5,720.38, the French CAC-40 index declined 0.1% to 3,995.48 and the German DAX index traded flat at 6,129.95.

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:

March 26 2010 03:18 am | Stock Market News

Trackback URI | Comments RSS

Leave a Reply

Related Posts from the Past: