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Market News

Location American Market News for 27 March 2013

Daily Wrap: 3/27/2013

Forbes - 27 Mar 2013 23:05
Concerns over the euro zone kept the U.S. markets under pressure today, just one day after the Dow posted a new high.
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Analyst Moves: CRL, IR

Forbes - 27 Mar 2013 23:00
Charles River Laboratories (CRL) was downgraded by Wells Fargo (WFC) to market perform as the firm believes that the stock is fully valued. A $42 price target was set.
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Investors Still Bullish On Fresh Del Monte Depsite Recent Spoiled Earningss The world’s population is increasing and thus global food demand is in turn on the rise. As an investor, there is a right way and a wrong way to profit from mounting food demand and lately it seems that Fresh Del ...
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Oil Demand Could Peak by End of Decade, Citi Analysts Say

Wall Street Journal - 27 Mar 2013 21:15
Peak oil demand is around the corner, a prominent oil analyst says in a new report.
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GameStop Will Need a Powerup to Win

Wall Street Journal - 27 Mar 2013 21:04
GameStop's strategy is to minimize investment in bricks-and-mortar stores and boost shareholder payouts, while also dipping toes into newer businesses. But it has plenty left to prove.
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Blackstone Open to Dell as CEO

Wall Street Journal - 27 Mar 2013 20:53
Blackstone said it is open to keeping Michael Dell as chief executive under its plan to gain control of the computer maker. The private-equity firm is competing against an offer from Mr. Dell and Silver Lake Partners.
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Cyprus Braces for Bank Openings

Wall Street Journal - 27 Mar 2013 20:30
Cyprus's government raced to prepare for its banks' scheduled reopening after a two-week hiatus, stitching together temporary capital controls to prevent deposits from fleeing the weakened institutions.
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U.S. Stocks Sag

Wall Street Journal - 27 Mar 2013 20:28
The Dow Jones Industrial Average was off 39 points, or 0.3%, to 14521 in afternoon trading, after falling as many as 120 points in the opening minutes of trading.
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Pinnacle IPO to Test Appetite

Wall Street Journal - 27 Mar 2013 20:17
Thursday's initial public offering for Pinnacle Foods will test how much investors are willing to pay for a company that offers a hefty dividend but comes saddled with debt and limited prospects for growth.
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10 U.S. Cities With The Worst Traffic

Forbes - 27 Mar 2013 19:38
10 U.S. Cities With The Worst Traffic Drivers in cities with the most congested roads wasted the equivalent of more than a full work week sitting in traffic jams last year.
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Central Banks Bought More Than $3 Trillion In Gold In 2013: UBS Gold has been on a definite downtrend since last October, with bullion falling a dramatic 5.1% in February alone.  As prices have dropped and investors lost faith, central banks have been on the opposite side of the t...
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In trading on Wednesday, shipping shares were relative leaders, up on the day by about 0.7%. Leading the group were shares of Excel Maritime Carriers (EXM), up about 7.9% and shares of Diana Shipping (DSX) up about 6.3% ...
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In trading on Wednesday, non-precious metals & non-metallic mining shares were relative laggards, down on the day by about 1.4%. Helping drag down the group were shares of Cliffs Natural Resources (CLF), off about 12.3% ...
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Prudential Is Fined Over AIA Bid

Wall Street Journal - 27 Mar 2013 17:35
The U.K. Financial Services Authority fined Prudential $45.5 million, the largest regulatory penalty of its type, and censured its chief executive for failing to inform the regulator about plans in 2010 to buy AIA.
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Steve Forbes: Here's How To Deal With Our This story appears in the April 15, 2013 issue of Forbes.
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Will Another May Day Crisis Hit The Markets? Take your eyes off Cyprus for a moment, something else is heading this way: May Day. It’s easy to forget that.
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Jimmy Stewart's Lesson for the Euro Zone

Wall Street Journal - 27 Mar 2013 17:14
Whenever talk of a bank run hits the news, columnists inevitably trot out references to that scene from "It's a Wonderful Life" in which Jimmy Stewart's character, George Bailey, convinces his panicked depositors to keep...
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The daughter of Williams team founder Frank Williams is to work alongside her father as deputy team principal.
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BlackBerry Earnings Report Won't Reveal Much BlackBerry is scheduled to report earnings on Thursday, March 28. The consensus is a loss of $0.32 vs. a profit of $0.80 a year ago.  The revenue consensus number is $2.84 billion.  The consensus is for BlackBerry ...
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BlackBerry 10 Launch

Forbes - 27 Mar 2013 14:54
BlackBerry 10 Launch Photos from the BlackBerry 10 launch event.
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Allianz Buys Turkish Insurer

Wall Street Journal - 27 Mar 2013 14:32
Allianz, Europe's largest insurer by market value, is buying 94% of a Turkish insurer and will partner with the firm's banking parent to try and take advantage of Turkey's growing economy.
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Italian Auction Weighs on Europe Markets

Wall Street Journal - 27 Mar 2013 14:32
The euro tumbled to a fresh four-month low against the dollar and European stocks fell, after a disappointing Italian bond auction pushed the country's borrowing costs to a three-week high.
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