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News Breaks | | | | February 1, 2013 | | 12:37 EDT |  | TM, GM, XOM, LTM, ADNC, FIATY, MRK, CTRP, DELL, F, CVX, NOV, PMCS | On The Fly: Midday Wrap
Stocks on Wall Street were sharply higher at midday following the monthly jobs report for January and a better than expected reading on manufacturing expansion. The Dow Jones Industrial Average rose above 14,000 for the first time since 2007 on several occasions in the first part of the day but has had trouble holding above that round-number level... ECONOMIC EVENTS: In the U.S., the nonfarm payrolls report showed that 157K jobs were added in January and unemployment rose to 7.9%. This compared to expectations for 165K new jobs and for unemployment to hold steady at 7.8%. Notably, December payroll additions were revised up to 196K from 155K and November was raised to 247K from 161K. The University of Michigan consumer confidence reading for January came in at 73.8, versus the expected 71.5. The January ISM manufacturing index had a reading of 53.1, versus the expected reading of 50.7, while Markit's January U.S. PMI came in at 55.8, also beating expectations. Construction spending in the month of December rose 0.9%, versus the expected increase of 0.7%. In China, the government’s official PMI slid to 50.4 from 50.6 in December, while a similar PMI reading from HSBC rose to a two-year high of 52.3. In Europe, the euro zone PMI hit an 11-month high at 47.9, though that figure is still indicates contraction... COMPANY NEWS: Two oil supermajors, Exxon Mobil (XOM) and Chevron (CVX) both reported quarterly earnings that beat expectations on revenues that missed the Street's forecasts. Shares of Exxon were nearly flat while Chevron was up nearly 1% near noon following their reports and corresponding investor calls... General Motors (GM), Ford (F), Chrysler (FIATY) and Toyota (TM) all reported double-digit sales increases in January... MAJOR MOVERS: Among other advancers following earnings were Audience (ADNC), up 21%, PMC-Sierra (PMCS), up 13%, and Ctrip.com (CTRP), up 6%. Also higher were shares of Dell (DELL), which rose over 4% after Reuters said its planned 'go private' deal may happen as soon as Monday... Among the noteworthy losers was Merck (MRK), which fell almost 3% and was the only Dow component not rising at midday. The company's quarterly results beat expectations but it also announced it would delay its filing for approval of odanacatib, the company’s investigational osteoporosis drug. Also lower after their earnings reports were Life Time Fitness (LTM), down 20%, and National Oilwell Varco (NOV), down 4%... INDICES: Near noon, the Dow was up 137.51, or 0.99%, to 13,998.09; the Nasdaq was up 38.79, or 1.23%, to 3,180.92; and the S&P 500 was up 15.21, or 1.02%, to 1,513.32. | |
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News For XOM;CVX;MRK;GM;F;FIATY;TM;DELL;ADNC;PMCS;CTRP;LTM;NOV From The Last 14 Days Check below for free stories on XOM;CVX;MRK;GM;F;FIATY;TM;DELL;ADNC;PMCS;CTRP;LTM;NOV the last two weeks. |
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| June 18, 2013 | | 17:16 EDT |  | DELL | Dell special committee responds to Carl Icahn's latest proposal
 Subscribe for More Information | | | 16:20 EDT | | DELL | Southeastern says Icahn in best position to lead alternative Dell transaction
In a regulatory filing Southeastern Asset Management stated: "Southeastern Asset Management continues to believe that the Michael Dell / Silver Lake management buyout proposal undervalues the company and its prospects going forward. Southeastern and Icahn Associates have been working diligently to provide a better alternative for shareholders.Southeastern has determined that Icahn is in the best position to lead the development of an alternative transaction and to generate a better outcome for shareholders. Southeastern has therefore agreed to sell approximately 72,010,328 shares to Icahn, making Icahn the largest outside shareholder of Dell. Southeastern intends to vote its approximately 72,010,328 remaining shares of Dell stock against the $13.65 Michael Dell / Silver Lake management buyout proposal. Furthermore, Southeastern intends to vote its shares at Dell’s Annual Meeting in favor of the slate of highly qualified director candidates it and Icahn submitted to the Company. Icahn has Southeastern’s full support as it leads the proxy fight in the interest of all shareholders against the undervalued management buyout proposal. Southeastern will continue to participate in the proxy contest with Icahn to defeat the Michael Dell / Silver Lake management buyout proposal." | | | 16:06 EDT | | DELL | Icahn reports 8.68% stake in Dell
| | | 16:00 EDT |  | MRK | Options Update; June 18, 2013
Subscribe for More Information | | | 14:17 EDT | | FIATY | Chrysler, NHTSA resolve recall request
Subscribe for More Information | | | 12:49 EDT | | DELL | Icahn proposes Dell engage in $14 per share tender offer
Subscribe for More Information | | | 12:32 EDT | | DELL | Icahn says bought 72M Dell shares from Southeastern
Subscribe for More Information | | | 12:28 EDT | | DELL | Icahn proposes Dell commence tender offer for 1.1B shares at $14
Subscribe for More Information | | | 12:27 EDT | | DELL | Icahn issues letter to Dell holders, proposes $14/share tender offer
Subscribe for More Information | | | 10:54 EDT |  | F, FIATY | European auto sales decline to 20 year low, Reuters says
European car sales decreased in May to their lowest level for the month in 20 years, says Reuters. Data from the Association of European Carmakers showed Germany, France and Italy, suffered almost double-digit percentage declines in May, Reuters added. Reference Link | | | | 09:37 EDT | | CVX | BNP Paribas to broker Chevron Nigeria oil sales, Reuters reports
Subscribe for More Information | | | 09:30 EDT | | DELL | Dell tells holders $13.65/share offer 'superior to any alternative'
Subscribe for More Information | | | 08:37 EDT | | MRK | Drug companies turn to microchips to test medicines, WSJ reports
Subscribe for More Information | | | 07:42 EDT |  | DELL | O'Reilly Media to hold a conference
Subscribe for More Information | | | 07:13 EDT | | XOM, CVX | U.S. oil exports highest in 30 years, Bloomberg reports
Subscribe for More Information | | | 07:13 EDT | | GM | European car sales at 20 year low, Bloomberg reports
European car sales fell to a two decade low in May as rising joblessness caused by a recession in the euro region reduced demand at Peugeot (PEUGY), Renault and GM (GM), reports Bloomberg.Reference Link | | | 06:04 EDT | | XOM, CVX | Energy firms may look to courts over U.S. natural gas exports, Reuters reports
Subscribe for More Information | | | 06:01 EDT | | GM | On the Fly: Periodicals Wrap-Up
Subscribe for More Information | | | June 17, 2013 | | 16:07 EDT | | CVX | Tesoro Logistics confirms FTC clearance for purchase of Chevron system
Subscribe for More Information | | | 15:35 EDT | | CVX | FTC requires Tesoro to sell petroleum terminal for Chevron deal
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