Equity Morning News (19/11/2007)

Discussion in 'Trading' started by Ransquawk, Nov 19, 2007.

  1. Ransquawk

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    Nikkei-225 - The Index reversed earlier gains and extended its losing streak overnight as the strong JPY dampened investor sentiment amid a lack of factors driving up the market. The Index closed down 0.7% at 15,042.

    The major averages fell for a third straight session on Friday, after a disappointing outlook from Qualcomm triggered more weakness in technology shares and helped to send the Nasdaq down to its biggest weekly point loss since the 9/11 attacks. (RTRS)

    Merrill Lynch / Citigroup – Both firms are currently considering the flotation of minority shares in their brokerage arms according to brokers at rival Wall Street firms. The move would allow the groups access to value in the business without losing control as shares in the brokerage businesses would be much highly rated than the parent’s stock. (Weekend FT)

    Ford – The three remaining bidders for Jaguar and Land Rover, India’s Tata, compatriot Mahindra & Mahindra and US private equity form One Equity, will outline their takeover plans on Tuesday. (Sunday Express)

    McDonalds – Company is gearing up for a massive expansion into coffee (AP)

    General Motors - The company has introduced end-of-year discounts to boost sales amid the U.S. housing slump and increasing fuel prices. (WSJ)**

    Echostar - The decline in the company's share price last week has spurred interest from AT&T. (Barron's)**

    Eli Lilly - Shares in the company could dip another 10% as mixed results for its anti-clotting drug dim the company's sales outlook. (RTRS)**

    Celgene - The company will buy Pharmion Corporation for about USD 2.9 billion in stock and cash. (RTRS)**

    Rio Tinto - Abu Dhabi Basic Industries Corp said it is in final talks with Rio to develop an aluminum smelter in the United Arab Emirates at an initial cost of $5 billion. (RTRS)**

    Barclays Capital - The bank plans to increase its staff by 10% in the next year. (WSJ)**

    BHP Billiton - The company must add USD 15.0 billion to its offer for Rio Tinto for the takeover to succeed, Royal London Asset Management says. (Independent)**

    RBS - The company's CEO, Goodwin, has been informally approached by Citigroup to become its new CEO. (Sunday Telegraph)**

    Friends Provident – Zurich Financial, Old Mutual and Axa are all preparing bids for the firm. (Sunday Express)**

    British Airways – The airliner and its consortium, led by Texas Pacific Group, is readying a GBP 2.6bln bid for Iberia, to be tabled in the next two to four weeks. The company’s chief executive also said he intends to go after a bigger prize, a “transformational” deal, potentially with a US airline. (Sunday Express)

    Northern Rock – Virgin is claiming the support of Bank of China in its bid for the lender, with the Chinese bank providing part funding it needs to repay the approximately GBP 23bln borrowed from the BoE. (Sunday Express) Other bidders include Olivant, with JC Flowers and Cerberus expected to submit bids. This following the resignation of chief executive Applegarth. (Weekend FT) Two of the biggest shareholders, RAB Capital and SRM Global, who account for 13% of the equity said the company should not be broken up. (Sunday Times) Despite all of this, the company is due to face further embarrassment today when it is forced to reveal that all bids submitted this weekend are less than the current stock market value. (MNI)**

    BAE – Saudi is considering buying more Typhoons in addition to the $9.2bn worth on the first contract. (Sunday Times)

    Land Securities – Activest investor Laxey Partners is calling for the company to buy back up to 20% of its shares. (Sunday Times)

    Resolution - Standard Life has withdrawn its offer for Resolution. (DJ)**

    Marks & Spencer - The company plans to set up a joint venture in India. (Economic Times)**

    SAB Miller - The company will make an offer of EUR 48.25/share for 100% of the outstanding shares in Grolsch, which values the company at EUR 816 million. (RTRS)**

    Daimler - The company's CFO says it would be worth examining the possibility of expanding U.S. production plus purchasing in the country given the current weakness of the dollar. (Euro am Sonntag)**

    Infineon - The company's CEO said that he is worried about the impact that the weak dollar could have on earnings for the current business year 2007-2008. (Handelsblatt)**

    Deutsche Post - The company's CEO said that there is a line of potential bidders for the company's Deutsche Postbank AG unit. (FAZ)**

    PPR - The company os a favorite to acquire cosmetics group Clarins via its YSL Beaute subsidiary. (la Lettre de l'Expansion)**

    Sanofi-Aventis - The CEO of Total said that the company will sell its stake in Sanofi-Aventis bit-by-bit without flagging it up to the market. (S&P)

    Capgemini - The company's CEO said a special dividend would be one option for use of cash, says plans to collect cash until year-end, N. American unit had solid October. (RTRS)

    ENI - The company is no longer considering making an offer for the U.K.'s Burren energy. (S&P)

    Swiss Re - The company has said that it expects a CHF 1.2 billion mark-to-market loss in income from credit underwriting activities, marked down asset backed securities to zero, still committed to share buyback program, reiterates targets. (RTRS)**

    Richemont - The company is considering splitting its luxury goods opeation from its other interests, which include its 19.3% stake in British American Tobacco. (RTRS)**

    Swiss Life - The company will launch buyback of up to CHF 2.5 bln, will sell its Dutch and Belgian units to SNS Reaal. (RTRS)**

    Swisscom - The company announced that it would cut CHF 120 million in costs starting next year, will cut CHF 450 mln of costs through 2013, says buying out Fastweb would be a tactical mistake. (BBG)**



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