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News Breaks | | | | March 20, 2012 | | 16:16 EDT |  | TRGT, YGE, MYGN, TSL, AZN, STP, NSRGY, BHP, TIF, RIO | On The Fly: Closing Wrap
Stocks on Wall Street were lower on concerns of slowing growth in China. The futures barely reacted to February U.S. housing data, which showed starts were lower than expected but building permits were higher. The futures action led to a lower open for the broader market. The averages found a level in the first 30 minutes of trading where they sat and eventually began to drift higher. The market moved generally higher until the last hour of the session but the averages were never able to retake the baseline to continue their six day winning streak... ECONOMIC EVENTS: In the U.S., homebuilders began construction on a seasonally adjusted annual rate of 698,000 homes in February, down 1.1% from a month ago. Building permits jumped 5.1%, versus expectations for an increase of 0.6%. In China, a report said that home prices dropped in 45 Chinese cities last month and the country increased its gas and diesel prices for the second time in less than six weeks... MARKET NEWS: BHP Billiton (BHP) was widely quoted as stating that Chinese iron ore demand growth was "flattening," but the company came out and said that the slowdown had been discussed before and was not new information. Also, both BHP and rival Rio Tinto (RIO) confirmed plans to expand production in China even further. Still, BHP's confirmation along with other signals of a slowdown in China was attributed as a significant catalyst for today's market pull-back... Saudi Arabia said it is ready to meet any shortfalls in global oil supplies which, along with China's news, caused oil prices to fall 2%, weighing on the Energy sector of the S&P... Amazon.com (AMZN) moved up 3.67% following its $775M purchase of Kiva Systems, a maker of robots and other material handling technology... MAJOR MOVERS: Among the notable gainers was Tiffany (TIF), up $4.59, or 6.68%, to $73.27, after its earnings missed expectations but its FY12 guidance beat the Street's view. Also higher were a number of Chinese solar companies, including Yingli Green Energy (YGE), up 46c, or 12.07%, to $4.27, Suntech (STP), up 44c, or 14.06%, to $3.57, and Trina Solar (TSL), up 61c, or 7.85%, to $8.38, following the U.S. Commerce Department's decision to impose tariffs of less than 5% on the companies, which was well below the 20% to 30% that was forecast by some analysts. Noteworthy losers included Targacept (TRGT), down $2.22, or 29.96%, to $5.19, after it abandoned plans to seek approval for a depression drug it was developing in partnership with AstraZeneca (AZN), and Myriad Genetics (MYGN), down $1.33, or 5.19%, to $24.31, after the Supreme Court ruled that two patents held by Nestle (NSRGY) for certain personalized medicine products are invalid because the patents utilize "laws of nature" without adding significant additional features to those laws... INDICES: The Dow fell 68.94, or 0.52%, to 13,170.19; the Nasdaq lost 4.17, or 0.14%, to 3,074.15; and the S&P 500 dropped 4.23, or 0.30%, to 1,405.52. | |
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News For BHP;RIO;TIF;YGE;STP;TSL;TRGT;AZN;MYGN;NSRGY From The Last 14 Days Check below for free stories on BHP;RIO;TIF;YGE;STP;TSL;TRGT;AZN;MYGN;NSRGY the last two weeks. |
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| June 19, 2013 | | 07:52 EDT |  | TSL | Trina Solar management to meet with Deutsche Bank
 Subscribe for More Information | | | 05:43 EDT |  | AZN | AstraZeneca, Bristol-Myers announce top line results of Phase 4 trial of Onglyza
Subscribe for More Information | | | June 18, 2013 | | 12:32 EDT |  | AZN | AstraZeneca CEO says turnaround to take three or four years, Reuters reports
It will likely take three or four years for AstraZeneca's turnaround efforts to bear fruit, the company's CEO, Pascal Soriot, said today, according to Reuters. Reference Link | | | 12:10 EDT | | RIO | China Minmetals may have interest in Rio's Canadian iron-ore assets, WSJ says
State controlled China Minmetals Corp said it may bid on Rio Tinto's iron ore operations in Canada, says the Wall Street Journal. The interest in those assets may be a sign that China hasn't lost its appetite for that type of assets despite an economic slowdown, added the Wall Street Journal. | | | 11:42 EDT | | RIO | Brazil mining bill may double royalty to 4%, Reuters says
Brazil presented a much anticipated bill to reform the country's 46-year-old mining code, says Reuters. The bill proposes new royalties of up to 4% and a new regulatory agency, added Reuters. Reference Link | | | 10:31 EDT | | TSL | Trina Solar management to meet with Deutsche Bank
Meeting to be held in New York / San Francisco on June 18 hosted by Deutsche Bank | | | 09:15 EDT | | STP, YGE, TSL | China to generate more heat using solar energy, China Daily says
Subscribe for More Information | | | 09:02 EDT | | STP | Suntech subsidiary granted definitive moratorium
Suntech announced that Suntech Power International, the company's principal operating subsidiary in Europe, has been granted a definitive moratorium on creditor claims from the judicial authorities in Schaffhausen, Switzerland. The moratorium is for a six month period and may be extended thereafter. Previously, on April 9, SPI had been granted a provisional moratorium for two months on creditor claims as a result of over-indebtedness. The majority of SPI's debt is Suntech inter-company debt. Other than the insolvency and restructuring of Suntech Holdings' Chinese subsidiary Wuxi Suntech Power and the SPI composition proceedings, Suntech Holdings is not aware of any similar proceedings regarding any of its other entities. | | | 08:37 EDT | | AZN | Drug companies turn to microchips to test medicines, WSJ reports
Subscribe for More Information | | | 07:22 EDT | | AZN | Citigroup to host a conference
Subscribe for More Information | | | | June 17, 2013 | | 12:29 EDT | | YGE, TSL, STP | On The Fly: Midday Wrap
Subscribe for More Information | | | 10:40 EDT | | TSL, STP, YGE | Solar stocks jump after China backs industry
Chinese solar energy stocks are jumping after the Chinese government ordered power producers and lenders to provide more support to the industry. WHAT'S NEW: China's government announced that electric grid companies should give priority to obtaining power from solar plants, Bloomberg reported on Saturday. Lenders must help Chinese solar companies raise money, the news service also quoted the government as saying. TODAY'S PRICE ACTION: In mid-morning trading, LDK Solar (LDK) rallied 9.5% to $1.50, Suntech Power (STP) jumped 7% to $1, Trina Solar (TSL) surged 7% to $6.35. Yingli Green jumped 10% to $3.18, and Jinko Solar (JKS) climbed 7% to $9.40. WHAT'S NOTABLE: The EU has imposed high tariffs on Chinese solar companies, as it has accused the companies of selling solar panels at artificially low prices. Some EU countries have said that the dispute with China should be resolved quickly. | | | 10:18 EDT | | YGE | Yingli Green to launch new solar projects in China, Clean Technica says
China's Yingli Solar will develop solar plants generating 3 GW of power by 2016 in southern China, as part of a deal with local governments in the area, according to Clean Technica. Reference Link | | | 09:19 EDT | | MYGN | On The Fly: Pre-market Movers
Subscribe for More Information | | | 08:22 EDT | | BHP, RIO | Mining companies draw new regulator scrutiny, Bloomberg reports
Until now mining companies have been relatively free of political scrutiny. But world leaders, gathering in Northern Ireland for the Group of Eight summit beginning today, have mining transactions and companies in their cross hairs. They are proposing tighter oversight by requiring companies to disclose all payments made to foreign governments, reports Bloomberg.Reference Link | | | 07:28 EDT | | AZN | Cambridge Healthtech Institute to host a conference
Subscribe for More Information | | | 07:13 EDT | | BHP, RIO | Vale: China slowdown helped by Brazil currency depreciation, Bloomberg reports
Brazil’s Vale (VALE) said further local currency depreciation could counter cost rises and a slowdown in Chinese iron-ore demand as it seeks to regain market share from Rio Tinto (RIO) and BHP Billiton (BHP), reports Bloomberg.Reference Link | | | 07:07 EDT | | MYGN | DaVita, Myriad RMB announces biomarker research collaboration
Subscribe for More Information | | | 06:14 EDT | | RIO, BHP | On the Fly: Periodicals Wrap-Up
Subscribe for More Information | | | 05:49 EDT |  | MYGN | Stocks with implied volatility movement; MYGN CLWR
Stocks with implied volatility movement; Myriad Genetics (MYGN), Clearwire (CLWR) according to IVolatility. | | |
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