AmerisourceBergen Corp. (NYSE: ABC), which provides transport, logistical, and support services to drug manufacturers, announced this morning that it was acquiring privately held drug transport firm World Courier Group Inc. for $520 million. World…
Shortly after noon ET today, all three major US stock indexes continue to slide, with the DJIA down about 168 points at around12,794, the Nasdaq down about 42 points at 2,909, and the S&P…
Exxon Mobil Corp. (NYSE: XOM) has already been barred from bidding in the next round of permit sales to develop various projects in southern Iraq because of its contract with the government of Kurdistan…
Verizon Wireless, the joint venture between Verizon Communications Inc. (NYSE: VZ) and Vodafone Group plc (NASDAQ: VOD), has announced that its 4G LTE wireless network will now be available as an in-home network option…
Later today President Obama will announce two additional programs that his administration hopes will help improve the US housing market. The first is a required review by mortgage servicers of loans made to members…
The three major US equities indexes opened sharply lower this morning as there has been no news to counteract the weak economic projections that came out yesterday. The projected -0.3% contraction in eurozone GDP…
We noted earlier this morning a report from the Institute of International Finance (IIF) suggesting that if the Greek debt swap deal gets derailed, Greece would have no option except default and that markets…
Drug maker Merck & Co. Inc. (NYSE: MRK) this morning lowered its first quarter non-GAAP EPS estimate to $0.95-$0.98, well below the previous consensus estimate of $1.03. For the full-year, Merck expects non-GAAP EPS…
At an analyst’s conference this morning, Safeway Inc. (NYSE: SWY) announced its forecast for 2012, and the EPS number came in higher than previous analysts’ expectations. The company forecast EPS of $1.90-$2.10, compared with…
US index futures are sinking this morning as markets react to yesterday’s news that the eurozone economy is contracting and that global growth is slowing down. US factory orders reported a decline yesterday and…
Some of the richest men and largest shipping companies are stocking up on medium-range tankers to carry refined products from the new refining hubs in India and Asia to markets in Japan, China, and…
Investment firm Kohlberg Kravis Roberts & Co. L.P. (NYSE: KKR) and natural gas producer Chesapeake Energy Corp. (NYSE: CHK) have announced the formation of a new partnership to invest in royalties “in key oil…
A few weeks ago Rio Tinto plc (NYSE: RIO) wrote down $9 billion on the value of its aluminum division, BHP Billiton plc (NYSE: BHP) cancelled its plans to to build a new aluminum…
After opening lower this morning on weak data from Europe and Asia, the ISM non-manufacturing index for the US came in better than expected, but it was not enough to swing indexes toward gains.…
A consumer group called Center for Science in the Public Interest (CSPI) claims that the food coloring that gives colas their distinctive coloring has been found to be carcinogenic in animals. The substance is…
India has banned cotton exports, beginning immediately and lasting indefinitely. The move is causing some turbulence in the cotton market, where short positions reached nearly 8,300 contracts on predictions of a big cotton crop…
One of the critical elements in hydraulic fracturing (fracking) for oil and gas deposits is ordinary sand. The stuff is used to prop open the fissures blasted into the sub-surface rock by the fracking…
Newmont Mining Corp. (NYSE: NEM) has filed a notice with the SEC to offer senior unsecured notes from its existing shelf registration. The company did not specify the amount for the notes, the interest…
At about 12:30 p.m. today, all three major US stock indexes are lower, with the DJIA down about 57 points at around12,920, the Nasdaq down about 31 points at 2,945, and the S&P 500…
As Iran continues its tough talk about US-led sanctions against the country’s oil and banks, the Islamic Republic’s threatened closure of the Strait of Hormuz remains the most potent weapon in the country’s arsenal.…