MetLife reported a 36% increase in premiums, fees and other revenues from the insurance business outside of the U.S. in the year 2010, mainly due to the addition of about $836 million from ALICO's one month operations. MetLife acquired ALICO for about $15.5 billion from AIG as a part of its strategy to grow internationally. The acquisition has enabled MetLife to serve 90 million customers in over 60 countries and has significantly boosted MetLife's position as a leading insurance company in the U.S, Japan, Latin America, Asia Pacific, Europe and the Middle East.
This kind of movement is typical of a buyout situation, and ANR would not enter the deal if they didn't think it was a good idea in the long-term. However, the short-term is a different story, and if you think this stock won't be rising too far in the coming months, then it could be a good time to look at a short-term bearish hedged play on ANR.
Shares of Anadarko Petroleum (APC) gapped higher right out of the gate Thursday morning, thanks to a report that BHP Billiton (BHP) may be eyeing the firm as a potential takeover target. According to the U.K.'s Daily Mail, BHP could be prepping an offer worth $90 per share to acquire Anadarko. However, neither company has issued a formal response to the speculation.
After jumping to a new annual high of $76.50 bright and early Thursday morning, APC is on pace to notch a weekly finish atop the $70 level for the first time since April 23. In fact, if the shares can maintain their positive momentum through Friday's close, the shares could stage their first weekly victory north of $75 since June 2008.
JEC opened this morning at $44.36. So far today the stock has hit a low of $44.28 and a high of $47.97. As of 12:10, JEC is trading at $45.90 up $1.75 (3.9%). The chart for JEC looks bullish and S&P gives JEC a positive 5 STARS (out of 5) strong buy ranking.
TMO opened this morning at $54.97. So far today the stock has hit a low of $54.31 and a high of $55.49. As of 12:15, TMO is trading at $55.09 up $2.05 (3.9%). The chart for TMO looks bullish and S&P gives TMO a positive 5 STARS (out of 5) strong buy ranking.
Suntech Power (STP) is taking a post-earnings plunge, as traders pan the company's third-quarter report.
Wednesday morning, Suntech said its third-quarter profit climbed 11% to $33.1 million, or 18 cents per American depositary share (ADS), while revenue rose 57% to $743.7 million. Gross margin for the quarter contracted to 16.4% from 17.8%, due to lower selling prices.
In a joint statement, the companies noted expectations for "Crucell's strength in the manufacture, discovery and commercialization of vaccines would create a strong platform for Johnson & Johnson in the vaccine market." According to the Associated Press, JNJ has roughly $64 billion in annual sales and is the "world's biggest and most broadly based health care company."
Today, we saw three key acquisition announcements.
BP (BP) is making a move to try and polish up its tarnished reputation by going green. BP announced it will be buying Verenium Corporation's (VRNM) cellulosic biofuels business-- fuels made from grasses, canes, softwoods and other biomass -- including the company's facilities in Jennings, LA and San Diego, CA for $98.3 million.
NE CEO David W. Williams sated that, "Frontier is an excellent strategic addition to NE's existing asset, customer and employee base ... This acquisition is a highly complementary extension of our mid- and deepwater presence and positions us for additional growth in new market segments that can provide further opportunities for Noble and our customers."
Buffett's decision comes two weeks after the company announced a succession plan, naming Philip Clarke as chief executive effective in March. In addition, Tesco released first-quarter earnings a week ago, receiving a mixed reaction from analysts as same-store sales were mostly flat.
There's been a lot of chatter lately about a potential buyout for Palm Inc. (PALM), with various reports pointing to HTC and Lenovo as possible suitors for the parent of the Pre and Pixi smartphones. However, one long-term option trader on Monday placed a confident bet against a white-knight bid for PALM by opening a sizable, out-of-the-money put position on the equity.
Around midday Monday, a block of 6,500 contracts slipped across the tape on PALM's January 2011 2.50 put, which is currently out of the money by about three points. These puts changed hands at the ask price of $0.25, suggesting they were purchased.
Last year, Twitter said it had two goals for 2010: generate revenue and make acquisitions. At the time, the company was still sitting on a significant portion of its last round of capital, and given the $20 million annual burn rate revealed late last year -- plus the revenue it's generating -- it's unlikely that Twitter has had to deplete its coffers. So, Twitter has cash to put to work, and now we're seeing what that means.
On its blog, Twitter announced Friday that it has entered into an agreement with Atebits (aka Loren Brichter) to acquire Tweetie, which is one of the top Twitter clients for the Apple (AAPL) iPhone. In addition to acquiring the application, Twitter is also picking up talent. Brichter's efforts were good for a 2009 Apple Design Award, and he'll be part of future efforts to get Twitter for the iPad off the ground.
Back in December, FACT turned down Biogen Idec's (BIIB) unsolicited takeover offer of $17.50 per share. The deal is expected to close in the second quarter, as both boards of directors have approved the deal.
Medtronic (MDT) announced Monday morning that it has agreed to acquire Invatec and two of its affiliated companies.
Medtronic will issue an initial payment of roughly $350 million. Invatec develops medical technologies that are used for the "interventional treatment" of cardiovascular disease. In addition to Invatec, Medtronic will acquire Fogazzi (which provides polymer technology to Invatec) and Krauth Cardiovascular (which distributes Invatec's products in Germany)
Brink's/Broadview Security reportedly has more than 1.3 million recurring revenue accounts in North America, with revenue of roughly $565 million. This is roughly a quarter of ADT's 4.8 million accounts.