Motorola Solutions Buys Back Icahn Shares (MSI)
The other Motorola company, Motorola Solutions Inc. (NYSE: MSI) has said that it will buy back nearly 24 million shares of its stock from Carl Icahn at $49.15/share. The total value of the buyback…
All Work
Paul Ausick
Morning Wire — US Stock-Index Futures Drop
US index futures are falling this morning following a refusal by the Group of 20 (G20) to boost the IMF’s funding for bailing out faltering European economies. The decision forces Germany’s hand because that…
BioSante’s Cancer Drug Shows Significant Gain (BPAX)
Drug maker BioSante Pharmaceuticals Inc. (NASDAQ: BPAX) has released the results of a Phase Ib study of its pancreatic cancer vaccine GVAX indicating that, when used in combination with another drug, patients survive longer.…
Big Banks Losing Customers (BAC, WFC, JPM, C)
The nation’s biggest banks are losing customers to smaller local competitors according to a recent survey by J.D. Power and Associates. Between 10% and 11.3% of 5,000 surveyed customers at large, regional, or mid-size…
Economy Improving, But Expectations are Modest
The National Association of Business Economists (NABE)has released the results of its most recent survey on the economic outlook for the US for 2012 and 2013. The group’s chief economist summarized the results this…
Alaska North Slope Gas Resource of 80 Trillion Cubic Feet — Maybe
The US Geological Survey (USGS) has released its first estimate of the total amount of onshore oil and gas on Alaska’s North Slope. The estimate claims a “potential of undiscovered, technically recoverable” resources totaling…
24/7 Wall St. Closing Bell (FSLR, MNST, TSL, ARMH, MAR, Y, CROX, DECK, MRVL, MCP, SPN, ANR, JCP, NEM, CHTP, BV, KCP, RBCN, KND)
After opening higher this morning, markets rebounded from an early dip following a better-than-expected reading on consumer confidence and a bullish report on US new home sales. But sellers took over in the afternoon…
El Paso, Kinder Morgan Near $7 Billion Sale of Assets (EP, KMI, APO)
The $21 billion merger between El Paso Corp. (NYSE: EP) and Kinder Morgan Inc. (NYSE: KMI) likely depends on whether or not the proposed combination can shed some assets. Such a deal now appears…
NY Fed President Speaks on US Fiscal Challenges
Practically the first words out of New York Federal Reserve Bank President William Dudley’s mouth in a speech today were these: t is essential that the United States put in place a credible program…
Thai Company Challenges Shell for Cove Energy (RDS-A, APC)
Thailand’s PTTEP PCL has bested a $1.58 billion offer from Royal Dutch Shell plc (NYSE: RDS-A) for British-based Cove Energy PLC. The Thai oil & gas exploration firm has announced a “possible, all-cash offer”…
St. Louis Fed President Talks Housing, Gasoline Prices
St. Louis Federal Reserve Bank President James Bullard gave a speech today on the US housing market, and made a few remarks following the speech regarding gasoline prices. First, some of the points from…
France’s Total Begins Production at Offshore Nigerian Field (TOT, CVX, XOM)
French oil & gas giant Total SA (NYSE: TOT) has begun production at the Usan field offshore of Nigerial. Total owns 20% of the production and is the operator of the field. Chevron Corp.…
Mid-day Movers (CHTP, BV, KCP, RBCN, KND)
Shortly after noon ET today, all three major US stock indexes are showing gains, with the DJIA up more than 24 points at about 13,009, the Nasdaq up nearly 12 points at 2,969, and…
Upside Potential in Basic Industrial Stocks (CAT, DD, DOW, DE, APD, EMR)
While global GDP growth is expected to be slower this year, there are a couple of areas where investment will probably continue at relatively high levels. These are mining and agriculture. New mines continue…
Morning Movers (CHTP, KCP, KND, RBCN, DECK)
The three major US equities indexes opened higher this morning but quickly lost steam ahead of the consumer sentiment and monthly new home sales reports. Action in Europe and Asia had boosted the futures…
S&P Remains Positive on Municipal Bonds
In a note at its Global Credit Portal, ratings agency Standard & Poor’s discusses the performance of state and local bonds during 2011 and believes the sector will remain stable in 2012. Pointing out…
Nokia Leads Microsoft Smartphone Vendors (MSFT, NOK, AAPL, GOOG)
The Windows Phone 7 operating system from Microsoft Corp. (NASDAQ: MSFT) shipped on 2.7 million smartphones in the fourth quarter of 2011. Microsoft’s leading handset vendor was Nokia Corp. (NYSE: NOK), the first time…
Morning Wire — US Stock-Index Futures Higher
US index futures are higher this morning following the lead of both European and Asian marketsd which also moved higher today. In Europe, energy and financial stocks are leading the morning’s uptick, as crude…
Alpha Posts Big Loss on Impairment Charge (ANR)
Coal miner Alpha Natural Resources Inc. (NYSE: ANR) has seen its share price decline by -64% in the past 12 months. The company should prepare for things to get worse. In its fourth quarter…
Kenneth Cole Offers to Buy Back His Namesake Company (KCP)
Shoe and apparel maker Kenneth Cole Productions Inc. (NYSE: KCP) will be taken private by the company’s founder, chairman, and chief creative officer, Kenneth D. Cole. Mr. Cole already owns 47% of the company’s…