Market News
Housing
Pending home sales have risen for nine months in a row, a first for the series of the index since its inception in 2001, according to the National Association of Realtors®. The Pending Home Sales Index,* a forward-looking indicator based on contracts signed in October, increased 3.7 percent to 114.1 from 110.0 in September, and is 31.8 percent above October 2008 when it was 86.6. The rise from a year ago is the biggest annual increase ever recorded for the index, which is at the highest level since March 2006 when it was 115.2.
NAR's chief economist gives much of the credit for increased sales to the homebuyer's tax credit, which first-time homebuyers could claim to reduce their taxes by up to $8,000.
Dec 1 · 12:54:00 PM · Source: National Association of Realtors
email · face · Twitter · digg · COMMENTS
by Larry Etter
State Street (STT)
State Street Corp. Tuesday said it has agreed to acquire Mourant International Finance Administration. Mourant, based in the Channel Islands, has about $170 billion of assets under administration and 650 employees. It is called a leading provider of fund-administration services, particularly for alternative investments such as private equity, real estate and hedge funds.
The purchase prices is not being disclosed.
The deal would increase State Street's alternative-investment presence.
Dec 1 · 12:42:00 PM
Track · email · face · Twitter · digg · COMMENTS
by Larry Etter
State Street (STT)
State Street Corporation, one of the world’s leading providers of financial services to institutional investors, said it has been appointed by Morgan Stanley Investment Management to provide investment manager operations outsourcing services for approximately $300 billion in assets.
Dec 1 · 12:36:00 PM · Source: Company News Release
Track · email · face · Twitter · digg · COMMENTS
by Larry Etter
Pfizer (PFE)
Pfizer said Tuesday it had reached an agreement to license the worldwide rights to a treatment for Gaucher disease, a rare genetic disorder, from Protalix, an Israeli biotechnology company.
This deal would put Pfizer into competition with Cerezyme, Genzyme’s biggest-selling product.
Dec 1 · 12:32:00 PM · Source: Company News Release
Track · email · face · Twitter · digg · COMMENTS
by Larry Etter
Gartner, Inc. (IT)
Gartner, Inc., the leading provider of research and analysis on the global information technology industry, Tuesday announced that it has agreed to acquire AMR Research, Inc. for approximately $64 million in cash, subject to certain closing adjustments. With projected full year 2009 revenues of approximately $40 million, AMR Research is a leading research and advisory services firm serving supply chain management and IT professionals.
Dec 1 · 12:07:00 PM · Source: Company News Release
Track · email · face · Twitter · digg · COMMENTS
by Larry Etter
Staples (SPLS)
Staples, the world's largest office supply retainer, said Tuesday that its third quarter net income rose to $269.4 million, or 37 cents a share, from $156.7 million, or 22 cents, a year earlier. Sales fell 6.2 percent to $6.52 billion in the 13 weeks ended Oct. 31.
Earnings and sales both topped Street estimates.
Dec 1 · 11:41:00 AM · Source: Company News Release
Track · email · face · Twitter · digg · COMMENTS
by Larry Etter
Unemployment
The U.S. Labor Department Wednesday reported that initial jobless claims declined to 466,000 in the week ended Nov. 21 from 501,000 a week earlier. The 4-week moving average was 496,500, a decrease of 16,500 from the previous week's revised average of 513,000.
The latest figures are the lowest since September 2008 as the economic recovery encourages companies to fire or layoff less employees.
Nov 25 · 12:40:00 PM · Source: U.S. Labor Dept.
email · face · Twitter · digg · COMMENTS
by Larry Etter
Tiffany (TIF)
Tiffany & Co. said Wednesday that third quarter profits declined 1 percent to $43.3 million, or 35 cents a share, from $43.8 million a year earlier. Earnings from continuing operations, excluding some items, totaled 33 cents a share. Total revenue dropped 2.9 percent to $598.2 million in the three months ended Oct. 31. U.S. stores open at least a year decreased 10 percent after declining 27 percent in the previous quarter.
Sales and profits topped Street estimates and the company's CEO said Tiffany was "pleased to see that the rate of sales declines in the U.S. lessened as the quarter progressed. At the same time, many countries in Asia-Pacific and Europe achieved considerably better-than-expected sales."
Nov 25 · 12:36:00 PM · Source: Company News
Track · email · face · Twitter · digg · COMMENTS
by Larry Etter
Previous · Next
Advertisement