Cosmetics maker Avon Products Inc. (NYSE: AVP) has rejected a hostile takeover offer of $23.25/share from privately held Coty Inc. The offer values Avon at around $10 billion. Calling the offer “opportunistic and not…
US index futures are moving down this morning as investors wait for the Institute for Supply Management’s (ISM) report on factory orders. The Commerce Department also releases its monthly construction spending report this morning.…
Keryx Biopharmaceuticals Inc. (NASDAQ: KERX) this morning announced that its colorectal cancer treatment did no better than placebo in a Phase 3 trial. The company said it will evaluate whether or not to continue…
Vringo Inc. (AMEX: VRNG) has filed a Form S-3 with the US Securities and Exchange Commission announcing the sale of 2.76 million shares of the company’s stock on behalf of existing shareholders. Vringo’s shares…
For the past week about 7 million cubic feet of gas per day from a leaking well in the North Sea’s Elgin field. The leaking well, operated by Total SA (NYSE: TOT), as well…
Markets opened higher this morning and after a decline in mid-morning moved higher and wobbled around modest gain to the beginning of the last hour of trading today. This morning’s report on personal income…
Last week, we noted how a deal was in the works that could bring about a start to natural gas production from Alaska’s North Slope. Leases in the Ft. Thompson area were first issued…
Verizon Wireless, a joint venture of Verizon Communications Inc. (NYSE: VZ) and Vodafone Group plc (NASDAQ: VOD) could be ready to offer cable TV subscribers access to programming on their mobile phones before the…
In an appearance on CNBC this morning, Richmond Federal Reserve Bank President Jeffrey Lacker touched on a wide range of issues and projected a much rosier picture of the US economy during the next…
A report at The Wall Street Journal’s All Things Digital blog, cites several sources confirming that Yahoo! Inc. (NASDAQ: YHOO) will begin firing workers next week. The company employs about 14,000 people, and the…
France’s Total SA (NYSE: TOT) is moving two rigs into position to begin drilling relief wells to staunch the flow of natural gas from one of its wells in the North Sea’s Elgin field.…
Adult social networking site FriendFinder Networks Inc. (NASDAQ: FFN) reported quarterly and annual earnings after markets closed last night. The company posted a quarterly EPS loss of -$0.42, far worse than the consensus estimate…
Microinverter maker Enphase Energy Inc. (NASDAQ: ENPH) completed its IPO this morning, issuing 8.97 million shares at an offering price of $6/share. The price is the low end of the pre-IPO range of $6-$7,…
After the markets closed last night, Williams Companies Inc. (NYSE: WMB) announced a secondary stock offering of 26 million shares, some of the proceeds of which would be used to buy additional shares of…
US credit card giants Visa Inc. (NYSE: V) and Mastercard Inc. (NYSE: MA) have reported possible security breaches to law enforcement officials and card-issuing banks. A report on the KrebsonSecurity blog cites sources as…
Athletic gear retailer Finish Line Inc. (NASDAQ: FINL) reported fourth quarter and full-year earnings this morning and the stock is getting punished on the company’s forecast for its first quarter of the 2013 fiscal…
The 12 members of the Organization of Petroleum Exporting Countries (OPEC) produce an average of 31.26 million barrels/day of crude oil in March according to a survey of analyst, industry executives, and OPEC officials…
The European Union has agreed to raise its so-called “firewall” to a total of €700 billion, an increase of 40% over its previous maximum but still short of a hoped-for total of €1 trillion.…
At a US Senate hearing earlier this week, the US head of Bloomberg New Energy Finance’s (BNEF) policy analysis told the members that after a record year of US investment in green energy in…
US index futures are higher this morning as investors wait for news on US personal income and spending. A survey of economists conducted by MarketWatch forecast spending to climb 0.7% and income to rise…