AstraZeneca rises on Brilinta July 26, 2010 US reviewers gave mixed views on AstraZeneca’s experimental blood thinner Brilinta but the company’s shares rose on investor optimism that an advisory panel will back the potential blockbuster drug. AstraZeneca is counting on Brilinta to help offset the looming loss of patent protection on key drugs such as heartburn treatment Nexium and antipsychotic Seroquel. AstraZeneca [...]
Wall St cheers bumper results July 22, 2010 WALL Street bellwethers cheered investors with a raft of good results last night, pushing up US indices and raising hopes of a sustained economic recovery. Corporate stalwarts UPS, Caterpillar and 3M all posted double-digit profit growth for the last quarter, while Microsoft surpassed Apple’s recent sales to report a record rise in revenue. The upbeat [...]
Morgan Stanley continues down the road to recovery July 21, 2010 WALL Street lapped up a solid set of second-quarter results from Morgan Stanley yesterday, buoying market sentiment after a disappointing performance over the same period from some of the bank’s peers, notably Goldman Sachs. Morgan Stanley beat analyst expectations with post-tax profit of $1.4bn (£921m) for the three months to June, swinging back into the [...]
Wall St rises as IBM and Texas results hit after bell July 19, 2010 US stocks rose yesterday, spurred by optimism ahead of earnings from key technology companies and after Dow component Boeing announced strong orders. Investors bet on solid reports from International Business Machines (IBM), the world’s largest technology services provider, and chip maker Texas Instruments, hoping both would show strength similar to Intel’s results last week. But [...]
Traders hold their breath for results July 12, 2010 CAUTION prevailed in the US stock market yesterday, with indexes edging higher as investors kept bets to a minimum in front of earnings. Volume was among the lightest of the year with investors wanting to see if corporate outlooks validate last week’s surge, the strongest week in a year. Dow component Alcoa reported its second-quarter [...]
David Verey makes the trip back home to Lazard July 11, 2010 THE man once touted as a potential chief executive of the international investment bank Lazard is to return to the company he worked at for almost three decades. David Verey, who enjoyed a 29-year career at the bank before quitting nine years ago, will slot back in as a senior advisor to its UK business. [...]
KKR switches to NYSE July 11, 2010 Kohlberg Kravis Roberts & Co’s long-awaited listing on the Big Board brings a wide investor audience to the iconic private equity firm and could be a bellwether for rivals looking to follow suit. The buyout firm will switch from Amsterdam-based Euronext on July 15 to the New York Stock Exchange, joining rival Blackstone Group, which [...]
Wall Street up for third day as retail sales cheer July 8, 2010 WALL STREET rose for a third straight day yesterday as investors were encouraged to see jobless claims fall and a handful of large retailers report solid sales. Stocks have regained their footing after a slew of poor data had raised fears of a double-dip recession. But low market volume suggested investors are still skeptical, and [...]
BP “ahead of schedule” in oil clean-up July 8, 2010 BP is aiming to plug its leaking Gulf of Mexico well by 27 July, weeks sooner than forecast, it has been reported, The oil giant was also preparing a series of backup plans in case its current operations fail, including connecting the leaking well to existing pipelines in two adjacent gas and oil fields, the [...]
Huge pay for KKR chiefs July 6, 2010 Kohlberg Kravis Roberts co-founders Henry Kravis and George Roberts were paid about $22m (£14.5m) last year in fee and other income, and own about a quarter of the private equity firm which is about to list on the NYSE, according to a regulatory filing. The firm is moving closer to gaining its long-sought New York [...]