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Titan Machinery expects first-quarter loss
Thu May 23, 2013 4:16pm EDT May 23 (Reuters) - Farm equipment retailer Titan Machinery Inc said it expects to report a loss for the first quarter ended April, hurt by lower sales in its agriculture and construction business. "The lower-than-expected revenue was primarily due to abnormally delayed spring weather combined with cautionary agriculture customer sentiment and the continued ...
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Marvell beats estimates on higher demand for storage chips
Thu May 23, 2013 4:16pm EDT May 23 (Reuters) - Chipmaker Marvell Technology Group Ltd reported first-quarter results above analysts' estimates on higher demand for its storage chips, sending the company's shares up 8 percent in extended trading. Marvell's net income fell to $53 million, or 11 cents per share, in the first quarter from $95 million, or 16 cents per share, a year ...
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Cautious calm returns to Wall Street
Source: Reuters Wall Street has been had mixed trading today, paring sharp early losses after disappointing data from China and a slump in Japanese stocks outweighed better-than-expected reports on US jobs and housing. In China, the preliminary reading for a Purchasing Managers' Index of manufacturing was 49.6 in May, according to HSBC and Markit Economics data. In Japan, the Topix ...
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FOREX-Dollar tumbles vs yen on Nikkei loss Chinese data
* Worries that Fed may taper QE, weak China PMI hit stocks * Aussie hit hard by China data, falling commodity prices By Wanfeng Zhou NEW YORK, May 23 (Reuters) - The dollar was on track for its biggest daily drop in a month against the yen ...
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US STOCKS-HP supports Dow limits SPs loss in choppy trade
Thu May 23, 2013 3:31pm EDT * HP jumps after raising 2013 outlook * Encouraging economic data help stocks retreat from lows * Investors fret about timing of Fed stimulus pullback * Dow flat; S&P 500 off 0.2 pct; Nasdaq off 0.1 pct By Angela Moon NEW YORK, May 23 (Reuters) - U.S. stocks edged down on Thursday but rebounded sharply from their session lows as a rally in Hewlett-Packard's shares ...
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TREASURIES-Prices gain after solid TIPS auction
Thu May 23, 2013 3:21pm EDT * Benchmark yields hover above 2 percent * Prices gain after solid demand for $13 bln TIPS sale * Bond market has early 2 p.m. EDT close on Friday By Karen Brettell NEW YORK, May 23 (Reuters) - U.S. Treasury debt prices rose on Thursday after the Treasury saw solid demand for new inflation-linked bonds, though benchmark yields held above 2 percent as traders worried ...
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UPDATE 1-Pentagon sees slight drop in F-35 acquisition costs -sources
Thu May 23, 2013 3:19pm EDT WASHINGTON May 23 (Reuters) - The Pentagon's annual report to Congress shows a decline of $4.5 billion, or just over 1 percent, in the projected development and acquisition cost of the Lockheed Martin Corp F-35 fighter jet program, sources familiar with the data said on Thursday. The U.S. Defense Department now projects the cost of developing and building the new ...
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UPDATE 1-Goldman Sachs banker settles SEC pay-to-play charges
Thu May 23, 2013 3:19pm EDT WASHINGTON May 23 (Reuters) - Former Goldman Sachs banker Neil Morrison agreed to pay $100,000 to settle charges for his role in a pay-to-play scheme involving a Massachusetts gubernatorial campaign, the largest such penalty paid by an individual, the U.S. Securities and Exchange Commission said on Thursday. Morrison also was barred from the securities industry for ...
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UPDATE 1-U.S. SEC charges former LPL adviser with $2 mln civil fraud
Thu May 23, 2013 3:17pm EDT By Suzanne Barlyn May 23 (Reuters) - The top U.S. securities regulator on Thursday filed civil fraud charges against a former LPL Financial LLC adviser, charging he diverted some $2 million of client funds to use for personal expenses. The Securities and Exchange Commission said Blake Richards of Buford, Georgia, scammed at least six clients after promising to invest ...
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BRIEF-BP Shell Statoil have been sued over alleged brent crude oil price fixing
Thu May 23, 2013 3:16pm EDT May 23 (Reuters) - BP PLC : * Is sued by commodity trading firm over alleged price fixing in brent crude oil prices and futures contracts -- court filing * Lawsuit filed by Chicago-based prime international trading ltd also names Royal Dutch Shell Plc Statoil ASA as defendants * Lawsuit accuses defendants of reporting inaccurate, misleading and false information ...
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Dalcomp Negotiated Calendar
IN ORDER TO ENSURE THAT WE HAVE TIME TO ENTER ALL NEW ISSUE INFORMATION, DALCOMP ASKS THAT FIRMS CALL US AT 212-404-8107 OR USE OUR FAX 212-404-8153 TO INFORM US UPCOMING ISSUES. WE WILL ADD ANY INFORMATION WE RECEIVE BY 2 P.M., EDT, ON THURSDAY AFTERNOON. PLEASE BE SURE TO INCLUDE THE ENTIRE MANAGEMENT GROUP. IF YOU HAVE ANY QUESTIONS ABOUT THIS SERVICE, PLEASE CALL DALCOMP AT 212-404-8107. ...
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Lawmakers reach consensus on campus construction bonds
An agreement has been reached on allocating an additional $175 million for debt service to accommodate a major round of construction projects on numerous public university campuses across Texas. The Senate gave final approval to the measure House Bill 1025, authored by State Rep. Jim Pitts, R-Waxahachie on Wednesday evening. The House had previously proposed $200 million in additional ...
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Khosla Ventures hires Google veteran Ben Ling
SAN FRANCISCO | Thu May 23, 2013 3:10pm EDT SAN FRANCISCO May 23 (Reuters) - Khosla Ventures said on Thursday it is adding another new hire to its investment team: Ben Ling, who brings additional consumer-Internet expertise to Khosla, known for investing a substantial chunk of its portfolio in cleantech companies. Ling, who has held senior roles at YouTube, Google, and Facebook,, joined ...
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UPDATE 1-RLPC Icahn seeks up to $7 bln for Dell bid
Thu May 23, 2013 3:10pm EDT By Michelle Sierra NEW YORK May 23 (Reuters) - Activist investor Carl Icahn and Southeastern Asset Management Inc have initiated talks with banks and asset managers to line up commitments for as much as $7 billion in bridge loans to back their leveraged recapitalization proposal for Dell Inc, banking sources told Thomson Reuters LPC on Thursday. Jefferies & Co is ...
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UPDATE 1-Dutch aluminum products maker Constellium shares fall in debut
Thu May 23, 2013 3:07pm EDT * Shares open at $13.50, 10 pct below IPO price * At IPO price, company was valued at $1.51 bln By Aman Shah May 23 (Reuters) - Constellium NV, a Dutch aluminum products maker part-owned by miner Rio Tinto , fell as much as 12 percent below its initial public offer price in a market debut that failed to capture investor appetite. The stock regained some losses and was ...
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UPDATE 1-Venezuelas Petrovictoria to pump 120000 bpd in 2016
Thu May 23, 2013 3:00pm EDT JOSE, Venezuela May 23 (Reuters) - Venezuela's Petrovictoria, a joint venture between state oil company PDVSA and Russia's Rosneft, will start production in 2016 and reach 120,000 barrels per day, PDVSA said on Thursday. The joint venture will produce ultra-heavy crude from the vast Orinoco Belt, a large deposit of oil in the Orinoco River basin of ...
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SAC lawyers met with prosecutors to argue against charges -sources
NEW YORK | Thu May 23, 2013 3:00pm EDT NEW YORK May 23 (Reuters) - Lawyers for SAC Capital Advisors called a meeting with U.S. prosecutors and agents from the Federal Bureau of Investigation in April to argue that there should be no insider trading charges filed against the $15 billion hedge fund or its founder Steven A. Cohen, according to sources familiar with the matter. Lawyers for ...
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US STOCKS SNAPSHOT - Dow Nasdaq edge up in choppy trading
NEW YORK | Thu May 23, 2013 2:59pm EDT NEW YORK May 23 (Reuters) - U.S. stocks hit session highs in a volatile session on Thursday with the Dow industrials posting a second straight swing of more than 160 points as investors digest the Federal Reserve's evolving policy stance. The Dow Jones industrial average rose 20.81 points or 0.14 percent, to 15,327.98, the S&P 500 lost 1.98 ...
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Moodys looking at possible credit impacts from Oklahoma tornado
Thu May 23, 2013 2:54pm EDT May 23 (Reuters) - The May 20 tornado that struck a suburb of Oklahoma City could impact the long-term credit quality of the school district and hospital in its path, Moody's Investors Service said on Thursday. The credit rating agency said it is evaluating the ability of issuers in the state to manage recovery and costs related to the tornado damage, estimated at ...
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UPDATE 1-Ghana cabinet approves $1 bln Eurobond for July - fin min
Thu May 23, 2013 2:52pm EDT ACCRA May 23 (Reuters) - Ghana's cabinet has approved a Eurobond issue of up to $1 billion tentatively scheduled for July, Finance Minister Seth Terkper said on Thursday. "Based on anticipated market conditions and financing needs, a transaction size of up to $1 billion was recommended to, and approved by, cabinet," Terkper told reporters, adding that ...
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SP raises Dedham Mass. GO bond rating to AAA
Thu May 23, 2013 2:51pm EDT May 23 (Reuters) - Standard & Poor's Ratings Services said on Thursday it raised Dedham, Massachusetts' general obligation bond rating to AAA from AA-plus with a stable outlook. "The upgrade follows a trend of robust operating results improving reserves to very strong levels," said S&P credit analyst Victor Medeiros in a statement. The upgrade also ...
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Fitch Rates $600MM Build Illinois Junior Obligation Bonds AA+
Fitch: Sub-Saharan Africa Has Gradual Upgrade Potential Fitch Ratings says in a newly-published report that targeted reforms and policy initiatives could see Sub-Saharan Africa's (SSA) sub-investment grade ratings gradually upgraded, despite per capita income falling well short of peers. The challenge for Africa from a rating perspective is the low level of GDP per capita - most SSA ...
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Who repaid U.S. loan first Chrysler Tesla dont see eye to eye
By Deepa Seetharaman DETROIT | Thu May 23, 2013 2:31pm EDT DETROIT May 23 (Reuters) - Chrysler Group LLC and Tesla Motors Inc, both led by media-savvy executives, are trading public jabs over the definition of payback. Tesla wired $452 million on Wednesday to repay the remaining portion of its U.S. Department of Energy loan with interest. The company described itself as "the only ...
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Fed buys $15.3 bln of mortgage bonds sells none
NEW YORK | Thu May 23, 2013 2:27pm EDT NEW YORK May 23 (Reuters) - The Federal Reserve bought $15.3 billion of agency mortgage-backed securities from May 16 through May 22, less than the $17.3 billion it purchased last week, the New York Federal Reserve Bank said on Thursday. In a move to help the housing market, since October 2011 the U.S. central bank has been using funds from ...
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