WWW - Posts tagged Economic Times at BloggingStocks

economic times posts

Newspaper wrap-up 4-19-07: Iraq oil reserves may be double previous estimates

Posted Apr 19th 2007 9:16AM by Eric Buscemi (RSS feed)
Filed under: Newspapers, Magazines, Internet, Apple Inc (AAPL), AT and T (T), Boston Scientific (BSX), , Lockheed Martin (LMT), Barclays plc ADS (BCS), Oil

MAJOR PAPERS:

Barron's (subscription required) "Weekday Trader" advises avoiding Boston Scientific Corporation (NYSE: BSX) despite its recent rally.
Barron's "Weekday Trader Extra" reported that the Bain Capital Partners and Thomas H. Lee Partners increased $39 a share offer for Clear Channel Communications Inc (NYSE: CCU) is not guaranteed to succeed, with Barron's saying $42 a share or higher likely would.
Lockheed Martin Corporation (NYSE: LMT) and Northrop Grumman Corporation (NYSE: NOC) said that parts of the Coast Guard's "Deepwater" modernization program are under investigation by the Justice Department, reported the Wall Street Journal (subscription required).
According to the Financial Times (subscription required), citing a comprehensive independent study from IHS, Iraq may hold twice as much oil in its reserves as previously thought.

OTHER PAPERS:

The Business reported that Barclays plc ADS (NYSE: BCS) may have identified several ways of offering a higher price for ABN Amro Holdings (NYSE: ABN), the Dutch bank it is trying to acquire, according to sources.
The National Security Council, or NSC, has called for "special scrutiny" of VodafoneGroup plc ADS's (NYSE: VOD) takeover of Hutch-Essar, which may further delay the deal, reported the Economic Times.

WEBSITES:

Macrumors.com reported, citing Reuters, that AT&T Inc (NYSE: T) COO Randall Stephenson said the Apple Inc (NASDAQ: AAPL) iPhone is on target for a late June launch.

Newspaper wrap-up 4-17-07: iPhone to be delayed?

Posted Apr 17th 2007 9:13AM by Eric Buscemi (RSS feed)
Filed under: Newspapers, Magazines, Internet, Apple Inc (AAPL), Time Warner (TWX), Sprint Nextel Corp (S), , Vonage Holdings (VG)

MAJOR PAPERS:

Time Warner Inc (NYSE: TWX) senior executives are considering reducing the company's cable-TV holdings over time, reported the Wall Street Journal.

OTHER PAPERS:

The $27B private equity buyout of Clear Channel Communications Inc (NYSE: CCU) is in greater jeopardy as the California Public Employees' Retirement System, or CalPERS, said yesterday that it plans to vote against the deal, reported the New York Post.
According to diplomatic sources in Beijing, Iran and North Korea are working to "deepen cooperation" on the countries nuclear weapons technology, reported the Telegraph.
India's Economic Times reported that Mid-sized Indian pharmaceutical companies including Orchid Chemicals, Strides Arcolab, Glenmark Pharma, Granules India, Shasun Chemicals and Plethico Pharmaceuticals are all looking for acquisitions in Russia, Europe and the United States.

WEBSITES:

LightReading.com reported, citing a source close to the matter, that Sprint Nextel Corporation (NYSE: S) is considering a buyout of Vonage Holdings Corporation (NYSE: VG) and the two have been in talks to attempt to resolve Sprint's patent lawsuit against the VoIP provider.
Rumors are swirling that "quality problems" may cause Apple Inc (NASDAQ: AAPL) to delay the launch of its upcoming iPhone, according to LoopRumors.com, citing Smarthouse News Australia.

Newspaper wrap-up 4-16-07: Sallie Mae to be bought out

Posted Apr 16th 2007 9:00AM by Eric Buscemi (RSS feed)
Filed under: Newspapers, Magazines, Internet, Google (GOOG), Bank of America (BAC), , BP p.l.c. ADS (BP), SLM Corp (SLM)

MAJOR PAPERS:

The Wall Street Journal reported that Sallie Mae (NYSE: SLM), the education loan company, has agreed to sell itself for $25B to J.P. Morgan Chase and Co (NYSE: JPM) and Bank of America Corporation (NYSE: BAC).
The Wall Street Journal also reported that Google Inc (NASDAQ: GOOG) and Clear Channel Communications Inc (NYSE: CCU) have agreed to a multi-year deal in which Google will sell advertising on Clear Channel's 675-plus radio stations.

OTHER PAPERS:

According to the Daily Mail, Sir Richard Branson's Virgin is planning on taking on Ryanair Holdings plc (NASDAQ: RYAAY) in a air fare war for transatlantic routes.
Nestle SA ADS (OTC: NSRGY) has reportedly placed a bid to acquire India's Mount Everest Mineral Water, according to the Economic Times.
The U.K. Times reported that it has emerged that a key BP plc ADS (NYSE: BP) pipeline has been closed for over six months due to suspected corrosion.

Newspaper wrap-up 4-3-07: Google partnering with DISH Network

Posted Apr 3rd 2007 9:20AM by Eric Buscemi (RSS feed)
Filed under: Newspapers, Magazines, Google (GOOG), Starbucks (SBUX), Amgen Inc (AMGN), Starwood Hotels Worldwide (HOT),

MAJOR PAPERS:

The Wall Street Journal reported that Marshall & Ilsley Corporation (NYSE: MI) is in negotiations to spin off its Metavante payment processing unit with Warburg Pincus, in a deal valued at about $4B.
Former Starwood Hotels Worldwide Inc (NYSE: HOT) CEO Steve Heyer's unexpected departure from the company, without his $35M severance package, helped fuel speculation that Starwood might still be a buyout target, reported the Wall Street Journal.
Takeover talks between TXU Corp (NYSE: TXU) and Blackstone have "fallen apart," reported the Financial Times. TXU was looking for a superior offer than the $69.25 per share offer it received from Kohlberg Kravis Roberts and Texas Pacific Group.

OTHER PAPERS:

The New York Times reported that Starbucks Corporation (NASDAQ: SBUX) is being accused by the National Labor Relations Board of breaking the law in an attempt to block union activity.
EchoStar Communications Corp. (NASDAQ: DISH) and Google Inc (NASDAQ: GOOG) are partnering to create an automated system for buying, selling, delivering and measuring the impact of TV ads running on EchoStar's DISH Network, reported the Economic Times.
Amgen Inc (NASDAQ: AMGN) has delayed plans to build a EUR820M manufacturing plant in Cork, Ireland by two years, reported the Irish Times.

Newspaper wrap-up 3-29-07: Sony has record European launch for PS3

Posted Mar 29th 2007 9:00AM by Eric Buscemi (RSS feed)
Filed under: Newspapers, Magazines, International Business Machines (IBM), IAC/InterActiveCorp (IACI), Sony Corp ADR (SNE), , Merck and Co (MRK), Deere and Co (DE), Barclays plc ADS (BCS)

MAJOR PAPERS:

The Wall Street Journal's (subscription required) "Heard on the Street" column suggested that Deere and Company (NYSE: DE), which has risen 40% since lsat September, may be about to level off as analysts believe the positive outlook is already baked in to the stock price.
The Wall Street Journal reported that Sanofi-Aventis ADS's (NYSE: SNY) Acomplia, a "miracle weight loss pill", is looking less like a miracle among repeated FDA delays and European restrictions.
Barclays plc ADS (NYSE: BCS) says it would walk away rather than overpay for ABN Amro Holdings (NYSE: ABN), and rejected suggestions that it might then be vulnerable to a takeover itself, according to the Financial Times (subscription required).
The Financial Times reported that Sony Corporation's (NYSE: SNE) PlayStation 3 video game console has had a record-breaking launch in Europe, selling about 600,000 consoles in its first two days.
The Financial Times reported that U.S. drugmaker Merck & Company Inc (NYSE: MRK) won a restatement of its patent for once-weekly Fosamax treatment from the European Patent Office.
The Financial Times interviewed Barry Diller, the CEO of InterActiveCorp (NASDAQ: IACI), who believes corporate governance may be pushing U.S. companies to go private.

OTHER PAPERS:

The New York Times reported that billionaires Eli Broad and Ronald Burkle may be back in the running to buy The Tribune Company (NYSE: TRB), which has responded to a request for additional financial information about the company from the pair.
The Economic Times reported that Indian telecom operator Hutchison Essar is looking at outsourcing its IT operations to International Business Machines Corporation (NYSE: IBM), in a deal that would be worth $1.4B to $1.6B, according to sources.

Newspaper wrap-up 3-23-07: XM hit with lawsuit

Posted Mar 23rd 2007 9:33AM by Eric Buscemi (RSS feed)
Filed under: Newspapers, Magazines, Internet, Google (GOOG), General Electric (GE), , Hershey Co (HSY), Goldman Sachs Group (GS)

MAJOR PAPERS:

The Wall Street Journal reported that XM Satellite Radio Holdings Inc (NASDAQ: XMSR) is being sued by members of the National Music Publishers Association over XM receivers with the XM+MP3 service, which allows listeners to store songs they hear on XM onto their players. The suit is charging XM with "unlawfully reproducing and distributing copyrighted music without paying appropriate royalties."
The Wall Street Journal speculated that the most plausible course of action for Cadbury Schweppes ADS (NYSE: CSG) confectionery operations would be a merger with Hershey Company (NYSE: HSY), which the article said would be "tasty for investors."
General Electric Company (NYSE: GE) said it would launch a $1.14B takeover bid for leasing firm Sanyo Electric Credit, marking a potential windfall for major shareholder Goldman Sachs Group Inc (NYSE: GS). Sanyo Credit agreed to the offer which will run from Monday to May 9, reported the Financial Times.

OTHER PAPERS:

According to India's Economic Times, Google Inc (NASDAQ: GOOG) is open to acquiring Indian technology companies with "interesting technologies." The company already said it would invest in two Indian early stage venture capital funds last month.
The Economic Times also reported that Tata Group is in talks about buying a stake in Deutsche Telekom ADS's (NYSE: DT) business unit, T-Systems, citing a report from German business weekly Focus Online.

Newspaper wrap-up 3-21-07: Walt Mossberg reviews Apple TV

Posted Mar 21st 2007 9:45AM by Eric Buscemi (RSS feed)
Filed under: Newspapers, Magazines, Internet, Blogs, Google (GOOG), Apple Inc (AAPL), Starbucks (SBUX), International Business Machines (IBM), Barclays plc ADS (BCS)

MAJOR PAPERS:

The Wall Street Journal's "Heard on the Street" column focused on Starbucks Corporation (NASDAQ: SBUX), writing that some analysts see the stock rebounding since being beaten down after hitting a 52-week high in November.
Also in the Wall Street Journal, "The Mossberg Solution" reviewed the Apple TV product from Apple Inc (NASDAQ: AAPL), concluding that it is "a very well-designed product that easily brings the computer and the TV together."
The Financial Times reported that Mike Mayo, one of Wall Street's best known financial services analysts, is heading to Deutsche Bank AG (NYSE: DB) after leaving Prudential (NYSE: PRU).

OTHER PAPERS:

According to the Economic Times, International Business Machines Corporation (NYSE: IBM) is close to signing a 10-year $700M outsourcing contract with Idea Cellular in India.
The U.K. Times reported that prospective merger partners Barclays plc ADS (NYSE: BCS) and ABN Amro Holdings (NYSE: ABN) are considering using the proceeds from a possible sale of ABN Amro's LaSalle retail bank to generate a merger dividend for shareholders on both sides of the possible merger.

WEBSITES:

Henry Blodget's Internet Outsider blog wrote that Google Inc (NASDAQ: GOOG) should buy Spot Runner, which reduces the cost and time necessary to plan and buy a TV advertising campaign.

Newspaper wrap-up 3-16-07: Imperial Tobacco bids for Altadis

Posted Mar 16th 2007 9:34AM by Eric Buscemi (RSS feed)
Filed under: Wal-Mart (WMT), General Motors (GM), Newmont Mining (NEM), Dow Chemical (DOW)

MAJOR PAPERS:

General Motors Corporation (NYSE: GM) is reportedly attempting to tighten its financial reporting procedures, the Wall Street Journal (subscription required) reported. The auto maker is under investigation by the SEC and a federal grand jury for its accounting of transactions as far back as 2000.
The Financial Times (subscription required) reported that Dow Chemical Company (NYSE: DOW) is in talks with India's Reliance Industries for a joint venture that would enable Dow to reduce its exposure to commodity products and gain access to cheaper raw materials. Indian newspapers report that a deal could lead to a full takeover by Reliance.

OTHER PAPERS:

According to the Korea Economic Daily, citing an unnamed Posco ADS (NYSE: PKX) executive, a senior Arcelor Mittal Steel Company (NYSE: MT) executive expressed interest in Posco's merger plans. Posco denied the report, saying "There was no discussion on issues related to M&A when the Mittal executive met Posco CEO last month," according to the Economic Times.
The Independent reported that Imperial Tobacco Group plc (NYSE: ITY) has made a GBP7.6B bid for the Franco-Spanish tobacco company Altadis. The private equity firm Kohlberg Kravis Roberts is also reported to have interest in acquiring Altadis. An Imperial-Altadis merger could derail a hostile bid by Kohlberg Kravis Roberts.
BusinessWeek's "Inside Wall Street" section mentioned Newmont Mining Corp (NYSE: NEM), CB Richard Ellis Group Inc (NYSE: CBG) and Superior Energy Services Inc (NYSE: SPN) positively.

Which gold producer will shine brightest? Newmont Mining "is the one," says Vincent Carrino, Chief of Brookhaven Capital Management, which has loaded up on its stock.
Douglas Roberts at Channel Capital Research Institute doesn't see the Fed cutting rates soon, and hence he likes CB Richard Ellis Group.
Superior Energy Services aims to be everything to oil-and-gas explorers in the Gulf of Mexico, and in most cases it is. "Superior can't keep up with the tremendous demand for its repair and recovery services, which will provide strong growth through the end of the decade," says Martin Sass, CEO of MDSass, which owns a 1.2% stake.

Newspaper wrap-up 3-8-07: Nikko investor rejects Citiroup offer

Posted Mar 8th 2007 9:30AM by Eric Buscemi (RSS feed)
Filed under: Newspapers, Magazines, Internet, Daimler (DAI), General Motors (GM), 3M Corporation (MMM), Citigroup Inc. (C), Sony Corp ADR (SNE), Procter and Gamble (PG),

MAJOR PAPERS:

The Financial Times (subscription required) reported that General Motors Corporation's (NYSE: GM) CEO Rick Wagoner expressed caution about the possibility of General Motors adding new brands or US manufacturing plants to its portfolio, remarks that are likely to quash expectations of an imminent GM bid for cross-town rival DaimlerChrysler AG (NYSE: DCX).
According to the Financial Times, Nikko Cordial's largest investor has rejected Citigroup Inc's (NYSE: C) $11B takeover bid.
Also in the Financial Times, 3M Corporation (NYSE: MMM) has filed infringement lawsuits against Sony Corporation (NYSE: SNE) and Lenovo (LNVGY), and others, including Hitachi Ltd ADR (NYSE: HIT), CDW Corporation (NASDAQ: CDWC) and Matsushita Electric Industrial Co Ltd (NYSE: MC).

OTHER PAPERS:

India's Economic Times reported that Wipro Ltd ADS (NYSE: WIT) is said to be close to acquiring an unnamed U.S. aerospace services company for about $90M.
According to the U.K. Times, Procter & Gamble Company (NYSE: PG) has said it is willing to team up with private equity firms to pursue deals.

Newspaper wrap-up 2-28-07: HPV more prevalent than previously thought

Posted Feb 28th 2007 10:00AM by Eric Buscemi (RSS feed)
Filed under: Newspapers, Magazines, Internet, Blockbuster Inc 'A' (BBI), Hershey Co (HSY), BP p.l.c. ADS (BP), Merck and Co (MRK)

MAJOR PAPERS:

The Wall Street Journal (subscription required) reported that the Bush administration has agreed to join in regional talks with Iran and Syria over Iraq, which are being launched by the Iraqi government next month.
Also in the Wall Street Journal, billionaire investor Carl Icahn is pushing Blockbuster Inc's (NYSE: BBI) board to withhold some of CEO John Antioco's $7.6 million bonus.
In what could be good news for Merck & Co Inc's (NYSE: MRK) Gardasil vaccine, a study suggested the prevalence of HPV, which can cause cervical cancer, is greater than previous estimates had suggested, reported the Wall Street Journal.
According to the Financial Times (subscription required), Russia has increased the pressure on a key asset held by TNK-BP, BP p.l.c. ADS's (NYSE: BP) Russia venture, as BP CEO Lord Browne arrived in Moscow for talks of a possible transfer of part of a key asset to the state.

OTHER PAPERS:

The Economic Times of India reported that confectionery-maker Hershey Company (NYSE: HSY) is acquiring a 51% stake in the food and beverage business of the Godrej group for about $54 million.
Investor's Business Daily's "New America" column highlighted Radvision Ltd (NASDAQ: RVSN).

Newspaper wrap-up 2-27-07: Toyota to pick Mississippi for new plant

Posted Feb 27th 2007 9:15AM by Eric Buscemi (RSS feed)
Filed under: Newspapers, Magazines, Internet, Google (GOOG), Toyota Motor Corp. (TM), International Business Machines (IBM), Boeing Co (BA),

MAJOR PAPERS:

The Wall Street Journal (subscription required) reported that Texas has little authority to challenge the private equity buyout of TXU Corp (NYSE: TXU) which was announced yesterday.
According to individuals familiar with the plan, wrote the Wall Street Journal, Toyota Motor Corporation (NYSE: TM) is expected to pick Tupelo, Miss., as its site for an eighth North American assembly plant.
According to the Wall Street Journal, a large Boeing Company (NYSE: BA) contract win could be reversed because the Government Accountability Office advised the Air Force to reopen competition for a $15B rescue helicopter program due to improper cost evaluations.

OTHER PAPERS:

The Financial Times (subscription required) reported that International Business Machines Corporation (NYSE: IBM) will offer its in-house "jamming" technology to outside corporations and organizations.
India's Economic Times reported that Satyam Computer Services Limited (NYSE: SAY) has signed a deal with Northrop Grumman (NYSE: NOC) to expand "its footprint in the global aerospace and defense market place.
The Economic Times also reported that Google (NASDAQ: GOOG) will face a domain dispute for Gmail in China, where the Internet address www.gmail.cn is owned by ISM Technologies.

Newspaper wrap-up 2-7-07: Sam Zell enters Tribune bidding

Posted Feb 7th 2007 9:28AM by Eric Buscemi (RSS feed)
Filed under: Newspapers, Magazines, Microsoft (MSFT), , Comcast Cl'A' (CMCSA), Kohl's Corp (KSS), News Corp'B' (NWS), EMC Corp (EMC)

MAJOR PAPERS:

The Wall Street Journal (subscription required) reported that Kohl's Corp (NYSE: KSS) may form a multi-year deal with Elle for an exclusive line of clothing.
The Journal also reported that Comcast Corp (NASDAQ: CMCSA) is expected to announce an online video deal with Facebook.
The Barron's Online (subscription required) "Weekday Trader" column highlighted Citrix Systems Inc (NASDAQ: CTXS), which it said could rise to $40 a share or more from its current $31. The company is a play on the success of Microsoft Corporation's (NASDAQ: MSFT) Vista Operating System.

OTHER PAPERS:

According to the BBC News, Vodafone Group ADR (NYSE: VOD) is offering News Corporation's (NYSE: NWS) MySpace in the UK through its subscribers' mobile phones.
The Economic Times wrote that EMC Corporation (NYSE: EMC) has bought India's privately-held enterprise data security company Valyd Software for an undisclosed sum.
The Chicago Tribune reported that Chicago real estate magnate Sam Zell has entered the bidding for the Tribune Company (NYSE: TRB).

Newspaper wrap-up 2-6-07: Wal-Mart going digital

Posted Feb 6th 2007 9:17AM by Eric Buscemi (RSS feed)
Filed under: Newspapers, Magazines, General Electric (GE), Wal-Mart (WMT), Ford Motor (F), Goldman Sachs Group (GS), Verizon Communications (VZ)

MAJOR PAPERS:

The Financial Times (subscription required) reported that General Electric Company (NYSE: GE) is expected to buy a 95% stake in Idex Aquaservices.

OTHER PAPERS:

The Economic Times reported that Verizon Communications (NYSE: VZ) has formed a partnership with India's Videocom.
According to the U.K. Times, Nelson Peltz is in the running for Ford Motor Company's (NYSE: F) Aston Martin.
The Business-Standard wrote that Goldman Sachs Group (NYSE: GS) plans to buy a stake in India's MCX.
The New York Times reported that he SEC is investigating whether Wall Street brokers are leaking information about big trades to favored clients to get more business.
Also in the New York Times, Wal-Mart Stores Inc (NYSE: WMT) has signed a deal with all six major Hollywood studios to sell digital movies and TV shows on its web site.
The Investor's Business Daily's "New Issue America" column highlighted Fortress Investment Group, which is expected to go public on February 9 with an offering price of between $16.50 and $18.50.

Newspaper wrap-up 1-30-07: Sony blames PS3 for profit shortfall

Posted Jan 30th 2007 8:40AM by Eric Buscemi (RSS feed)
Filed under: India, Sony Corp ADR (SNE), US Airways Group (LCC), Dow Chemical (DOW)

MAJOR PAPERS:

The Wall Street Journal (subscription required) reported that Saudi Arabia is cutting oil output by an additional 158,000 barrels a day, part of a broader campaign by OPEC to shrink inventories and shore up prices.

Also in the Journal, Delta Air Lines (OTC: DALRQ) said that if it defeats U.S. Airways Group Inc's (NYSE: LCC) hostile takeover it won't rule out possibly merging with another airline.

The Financial Times Deutschland (subscription required) reported that Dow Chemical Company (NYSE: DOW) is in talks with Gazprom over a joint development.

OTHER PAPERS:

The Economic Times noted that Standard & Poor's raised India's debt rating to investment grade for the first time in 14 years on the strength of record growth and foreign exchange reserves.
The New York Times wrote that Sony Corporation (NYSE: SNE) profits fell on losses for PlayStation 3 as the company faulted a strategic decision to set the price of PS 3 below the cost of production as a way to bolster market share.
The Investor's Business Daily's "New Issue America" column highlighted Mellanox Technologies, a tech startup that is expected to come public the week of February 5 with an offering price of $12-$14.

Newspaper wrap-up 1-12-07: Apple in news for options probe

Posted Jan 12th 2007 9:00AM by Eric Buscemi (RSS feed)
Filed under: Newspapers, Magazines, Internet, Google (GOOG), Microsoft (MSFT), Yahoo! (YHOO), Apple Inc (AAPL), General Electric (GE), McDonald's (MCD), NYSE Euronext (NYX), Lockheed Martin (LMT)

MAJOR PAPERS:

The Wall Street Journal (subscription required) highlighted Apple Inc's (NASDAQ: AAPL) ongoing options probe among its headlines.

Federal Authorities are "actively" investigating backdated stock-option grants awarded to Steve Jobs, Apple's CEO.
The NYSE Group's (NYSE: NYX) New York Stock Exchange is planning a pilot program later this year that may bring real-time stock price data to investors via web sites such as Google Inc (NASDAQ: GOOG) and Yahoo Inc (NASDAQ: YHOO).

The Financial Times (subscription required) highlighted Britain's announcement to pull troops out of Iraq as the U.S. adds more to Iraq.

Siemens AG's (NYSE: SI) ex-CFO Heinz-Joachim Neuburgerwas named in a bribery probe.
British Prime Minister William Blair is set to announce an Iraq troop pullout of 2,600 soldiers.
Regulators in Britain say that stem cell work with animals may be legal, despite a proposal to ban on hybrid embryo experiments.

OTHER PAPERS:

The Economic Times reports that Reliance Industries may make a bid for General Electric Company's (NYSE: GE) Plastics Operations.
The Chicago Tribune reports that McDonald's Corporation (NYSE: MCD) may put its Boston Market chain up for sale.
CNet.com reports that Microsoft Corp (NASDAQ: MSFT) has lost its top executive in China, Li Gong.
Investor's Business Daily's "New America" column said that Middleby Corp (NASDAQ: MIDD) should profit from the trend away from trans fats with their new Rocket Fryer.
BusinessWeek's "Inside Wall Street" column mentioned Lockheed Martin Corporation (NYSE: LMT), Sempra Energy (NYSE: SRE) and Thermage Inc (NASDAQ: THRM) positively.