Daily News From Anna
Tuesday, February 22, 2005
News:
KG/MYL - KG said it completed its review of Returns reserve and has determined not to restate its financial results for periods prior to 2002. The company announced restatements for 2004 and 2003. The company will evaluate its options regarding the MYL merger and any new proposals that may arise from MYL.
SIRI - SEC has launched investigations into potential insider trading violations surrounding Howard Stern’s move to Sirius. NY Post
MAY, FD - MAY has suspended its CEO search over the weekend as merger talks w/FD advanced. NYT
Winn-Dixie Stores Inc. early Tuesday said it filed for bankruptcy protection
NVS announced it would be buying German generic drug firm Hexel and ELAB for a total of $8.3B in cash. NVS mgmt said investors can expect a period of digestion from it for a while as it integrates the companies. Some analysts expressed concern about the price being paid for Hexel. WSJ
Teva Pharmaceuticals Industries Chief Executive Officer Israel Makov is seeking acquisitions as his company faces slowing sales growth and the loss of its status as the world's No. 1 maker of generic drugs to Novartis AG.
MARKS & SPENCER Guardian speculation financier Mark Paulsmeier plans bidding 410p per share in cash for co. Additionally, Phillip Green says he is not considering bidding for M&S.
Nikkei Ends Down half percent
FIA says former Rolls Royce boss Kalbfell to run new grouping of Alfa Romeo and Maseratii. downgraded at UBS to reduce.
KO - Cautious Comments in Barron's - Q4 results were strong, but investors might want to wait for more tangible evidence the turnaround is taking hold. Stock is not cheap at more than 20x.
Energy Crude: $49.35 up $1.00 (up sharply)
Gold: $432.50 up $4.10 (2 month high)
Copper: $1.4920/lb. up 0.0045
Platinum: $869.0/troy oz. up $3.5
Natural Gas: $6.068/mcf up $0.16
Palladium: $183.00 up $3.50
Dollar: Yen: 104.00 down 1.62; Euro: 1.321 down .014 (Dollar at 4 week low v euro)
Treasuries: 2-year: 3.43%; 10-year: 4.27%
News:
KG/MYL - KG said it completed its review of Returns reserve and has determined not to restate its financial results for periods prior to 2002. The company announced restatements for 2004 and 2003. The company will evaluate its options regarding the MYL merger and any new proposals that may arise from MYL.
SIRI - SEC has launched investigations into potential insider trading violations surrounding Howard Stern’s move to Sirius. NY Post
MAY, FD - MAY has suspended its CEO search over the weekend as merger talks w/FD advanced. NYT
Winn-Dixie Stores Inc. early Tuesday said it filed for bankruptcy protection
NVS announced it would be buying German generic drug firm Hexel and ELAB for a total of $8.3B in cash. NVS mgmt said investors can expect a period of digestion from it for a while as it integrates the companies. Some analysts expressed concern about the price being paid for Hexel. WSJ
Teva Pharmaceuticals Industries Chief Executive Officer Israel Makov is seeking acquisitions as his company faces slowing sales growth and the loss of its status as the world's No. 1 maker of generic drugs to Novartis AG.
MARKS & SPENCER Guardian speculation financier Mark Paulsmeier plans bidding 410p per share in cash for co. Additionally, Phillip Green says he is not considering bidding for M&S.
Nikkei Ends Down half percent
FIA says former Rolls Royce boss Kalbfell to run new grouping of Alfa Romeo and Maseratii. downgraded at UBS to reduce.
KO - Cautious Comments in Barron's - Q4 results were strong, but investors might want to wait for more tangible evidence the turnaround is taking hold. Stock is not cheap at more than 20x.
Energy Crude: $49.35 up $1.00 (up sharply)
Gold: $432.50 up $4.10 (2 month high)
Copper: $1.4920/lb. up 0.0045
Platinum: $869.0/troy oz. up $3.5
Natural Gas: $6.068/mcf up $0.16
Palladium: $183.00 up $3.50
Dollar: Yen: 104.00 down 1.62; Euro: 1.321 down .014 (Dollar at 4 week low v euro)
Treasuries: 2-year: 3.43%; 10-year: 4.27%
