Market News
Bank of New York Mellon (BK)
The Bank of New York Mellon Corporation announced that it has acquired a 20% minority interest in Siguler Guff & Company LLC and certain related entities, a multi-strategy private equity firm with approximately $8 billion in assets under management and committed capital.
Siguler Guff's focused investment offerings include fund of funds targeting distressed security investing, investing in emerging markets, including Brazil, Russia, India and China, and investing in small cap buyout opportunities.
Nov 3 · 4:40:00 PM · Source: Reuters
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by Michael Oliveto
Bank of New York Mellon (BK)
The Bank of New York Mellon Corporation announced that it has completed the acquisition of Insight Investment Management Limited from Lloyds Banking Group plc.
Based in London, Insight Investment specialises in Liability Driven Investment solutions, active Fixed Income and Absolute Return. Insight Investment's assets under management, net of identified internal assets that will be retained by another part of the Lloyds Banking Group, are approximately $133 billion.
Nov 3 · 4:38:00 PM · Source: Reuters
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by Michael Oliveto
Avon Products (AVP)
Avon reported Q3 earnings of $0.36 per share on net income of $156 million versus $0.52 per share on net income of $223 million in the year ago period.
Revenue was $2.6 Billion and was 4% lower year over year due to foreign exchange pressure; Up 7% on local-currency basis, driven by strong Beauty Sales.
Nov 3 · 3:34:00 PM · Source: Company News Release
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by Michael Oliveto
Amazon (AMZN)
Amazon.com, in an escalation of its price war with Wallmart, began offering hardcovers of John Grisham's "Ford County" and Barbara Kingsolver's "The Lacuna" for just $9 on Tuesday, the official release date for both books. Hardcovers generally have a list price of $24 or higher.
In mid-October, Walmart.com announced dramatic discounts for pre-orders of "Ford County," Sarah Palin's "Going Rogue" and other popular November publications. Wal-Mart.com initially charged $9 for the books, a price quickly matched by Amazon.com, then dropped to $8.98 by Wal-Mart.com.
Nov 3 · 1:36:00 PM · Source: Mercury News · Related: Walmart
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by Michael Oliveto
Amgen (AMGN)
Amgen, Inc. and AmerisourceBergen Corp. were sued on Friday by 14 U.S. states and the District of Columbia over an alleged kickback scheme designed to boost sales of Amgen's anemia drug, Aranesp.
New York Attorney General Andrew Cuomo announced the lawsuit, which was filed in federal court in Boston. It joins a related whistleblower lawsuit filed in the same court in 2006 and is one of many lawsuits accusing drugmakers of illegally marketing their products.
Nov 3 · 1:30:00 PM · Source: Reuters · Related: AmerisourceBergen
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by Michael Oliveto
American Electric Power (AEP)
American Electric Power is being required by The U.S. Environmental Protection Agency to conduct safety tests on waste impoundments at a West Virginia coal-burning plant to ensure their structural stability.
Although the impoundments at the Philip Sporn plant aren't considered an immediate failure risk, EPA said it was requiring the tests because the structures have similar designs to one that failed last December in Tennessee.
Nov 3 · 1:26:00 PM · Source: AP
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by Michael Oliveto
Abbott Labs (ABT)
Abbott announced that it has completed its acquisition of Evalve, Inc., the
global leader in the development of devices for minimally invasive repair of
mitral valves.
The acquisition provides Abbott with a leading presence in the growing area of
non-surgical treatment for structural heart disease. Evalve's minimally
invasive catheter-based MitraClip® system is the first commercially available
treatment option approved in Europe for non-surgical mitral valve repair for
patients suffering from the effects of mitral regurgitation, a condition that
prevents the heart's mitral valve from closing completely.
Nov 3 · 11:43:00 AM · Source: Reuters
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by Michael Oliveto
Apple (AAPL)
Apple reported in its 10-K that it has budgeted $1.9 billion in capital expenditures for fiscal 2010 which is 70% more than the $1.1 billion it spent in 2009.
According to its 10-K, the company “anticipates utilizing approximately $1.9 billion for capital asset purchases during 2010, including approximately $400 million for Retail facilities and approximately $1.5 billion for corporate facilities, infrastructure, and product tooling and manufacturing process equipment.”
Nov 3 · 11:37:00 AM · Source: All Things Digital
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by Michael Oliveto
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