Market News
Pfizer (PFE)
Pfizer Inc. has won U.S. and Canadian regulatory approval for its $68 billion acquisition of Wyeth. The companies plan on closing the deal tomorrow.
Pfizer won U.S. clearance after agreeing to sell half of Wyeth’s animal health business to Boehringer Ingelheim GmbH within 10 days of the acquisition’s closing, the Federal Trade Commission said today in a statement.
Pfizer agreed in January to buy Wyeth in a stock-cash transaction that would give it access to the depression treatment Effexor and pneumonia vaccine Prevnar.
Oct 14 · 2:13:00 PM · Source: Bloomberg · Related: Wyeth
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by Larry Etter
Citigroup (C)
Citigroup announced Tuesday that it has become the first U.S. financial institution to open a retail banking branch in Vietnam.
The branch is located in Ho Chi Minh City and will provide deposit and remittance services.
Oct 14 · 1:46:00 PM · Source: Ub News
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by Michael Oliveto
U.S. Dollar
Concerns over a weak dollar are misplaced, according to Richard Berner, Co-Head of Global Economics and Chief U.S. Economist at Morgan Stanley. In his view, "those concerns are misplaced, especially in today's context. I think a weaker dollar is a helpful adjunct to US monetary policy: It helps prevent already-declining inflation from falling too low and is a stimulant to growth for an economy that could well use more vigor"
Oct 14 · 12:45:00 PM · Source: Morgan Stanley
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by Larry Etter
Baker Hughes (BHI)
Baker Hughes, Inc announced the number of rigs searching for oil and gas in the U.S rose for the week ended October 9.
This represents an increase in drilling activity by the producers fueled by the recent run up in commodity prices. The overall picture, though, remains weak, particularly for natural gas, whose inventories have recently hit a new record high of 3.66 trillion cubic feet (Tcf) and is threatening to test the maximum capacity of 3.89 Tcf. The supply picture is expected to reverse in the coming months as the lagging effect of the sharp drop in domestic drilling activity takes hold.
Oct 14 · 12:30:00 PM · Source: Business Wire
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by Michael Oliveto
Amazon (AMZN)
Amazon.com’s CraeteSpace announced agreements with several international companies to distribute content in the U.S. using print-on-demand technology.
“Amazon has long provided publishers with a platform to effectively market their foreign language and international books to millions of potential customers,” said Russell Grandinetti, vice president of books, Amazon. “Customers now have access to an even greater selection of works from notable international publishers, with in-stock availability and eligibility for any of our shipping options, through print-on-demand.”
Oct 14 · 12:23:00 PM · Source: Business Wire
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by Michael Oliveto
Apple (AAPL)
Apple’s iPhone beat RIMM’s Blackberry in a customer satisfaction study performed by J.D. Power and Associates.
The iPhone received a score of 803 while the Blackberry received a score of 724 on a 1000 point scale. Factors considered were were ease of operation, operating system, physical design, features and battery function.
Oct 14 · 11:55:00 AM · Source: Internetnews.com · Related: Research in Motion
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by Michael Oliveto
Walmart (WMT)
Wal-Mart said on Wednesday it will begin offering two new no-contract wireless service plans at its U.S. discount stores, including a $30 prepaid plan that includes 1,000 minutes.
The new plans will likely put pressure on rivals Leap Wireless International Inc, MetroPCS, and Sprint Nextel unit Boost.
Oct 14 · 11:54:00 AM · Source: Reuters.com
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by Rich Pike
Travelers (TRV)
Travelers will review its third quarter 2009 results via webcast at 9 a.m. EDT on Thursday, Oct. 22, following the release of earnings earlier that morning.
A slide presentation, statistical supplement and live audio broadcast will be available on the investor section of the Travelers Web site at http://investor.travelers.com. Following the webcast, the presentation and an audio playback of the teleconference will be available at the same Web site.
Oct 14 · 11:50:00 AM
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by Rich Pike
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