Latest US Markets News
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Market Snapshot U.S. stocks creep up before Bernanke testifies
NEW YORK (MarketWatch) -- U.S. stocks moved up modestly in Wednesday's early going before Federal Reserve Chairman Ben Bernanke's much-anticipated appearance in front of ...
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UPDATE 1-Clearwire recommends approval of sweetened Sprint bid
Wed May 22, 2013 10:28am EDT * Says Sprint offer is best option * Schedules shareholder vote for May 31 * Clearwire shares fall below offer price NEW YORK, May 22 (Reuters) - Clearwire Corp said its special committee and its board of directors approved Sprint Nextel Corp's sweetened offer to take over the company and advised shareholders to vote for the deal. Wireless service provider ...
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CORRECTED-White House threatens veto of bill to bypass Obama on Keystone
Wed May 22, 2013 10:24am EDT (Corrects to 67 from 60 the votes needed in Senate to overcome presidential veto) By Ros Krasny WASHINGTON May 21 (Reuters) - The White House has threatened to veto legislation pending in the U.S House of Representatives that could strip from President Barack Obama the authority to approve the controversial Keystone XL pipeline. The Republican-controlled House is ...
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China to float 30b yuan in 10-year T-bonds
/enpproperty--> BEIJING - The Ministry of Finance (MOF) announced Wednesday that it will float 30 billion yuan ($4.8 billion) in 10-year book-entry treasury bonds. The issuance is the ministry's 11th batch of book-entry treasury bonds this year. The interest rate for the bonds is fixed at 3.38 percent. Interest will be paid every half year, with the last interest and the principal ...
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Abu Dhabis ADCB sells $300m of subordinated bonds
Abu Dhabi Commercial Bank will sell $300 million in a subordinated bond on Wednesday, according to the deal arranger, just over two months after its last debt markets ...
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Pearson agrees $75 million settlement in U.S. eBook pricing case
Publisher Pearson said on Wednesday it would pay $75 million in consumer damages plus cost and fees as part of a deal with the United States to settle anti-trust claims relating ...
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UPDATE 2-Toll Brothers profit beats on higher home prices
Wed May 22, 2013 10:14am EDT * 2nd-qtr adj earnings $0.09/share vs $0.07 est * Revenue rises 38 percent * Orders rise 36 percent * Shares up 7 percent By Mridhula Raghavan May 22 (Reuters) - Luxury homebuilder Toll Brothers Inc reported stronger-than-expected results on higher average selling prices and booked its highest quarterly orders in seven years, sending its shares up 7 ...
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MIDEAST STOCKS-Kuwait dips from 4-yr high as rally stalls mkts mixed
By Nadia Saleem DUBAI | Wed May 22, 2013 10:12am EDT DUBAI May 22 (Reuters) - Kuwait's rally stalled on Wednesday as investors booked profits in bluechip and mid-cap stocks, while other Middle East markets were mixed in lacklustre trade. Kuwait's index fell 0.3 percent, easing from Tuesday's near four-year high. Telecom operator Zain and National Bank of Kuwait shed 1 and ...
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TREASURIES-U.S. bonds add gains after Bernankes remarks
NEW YORK | Wed May 22, 2013 10:12am EDT NEW YORK May 22 (Reuters) - U.S. Treasury debt prices extended their earlier gains on Wednesday after remarks from Federal Reserve Chairman Ben Bernanke suggested the U.S. central bank will not slow its purchases of bonds since the jobs market remains sluggish. Benchmark U.S. yields had risen more than 0.30 percentage point since early May on ...
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Mexicos peso firms after US Fed hints at continued stimulus
MEXICO CITY | Wed May 22, 2013 10:12am EDT MEXICO CITY May 22 (Reuters) - Mexico's peso strengthened in early trading on Wednesday, after testimony revealed U.S. Federal Reserve chairman Ben Bernanke does not think it is time to rein in monetary stimulus. Mexico's peso firmed 0.79 percent to trade at 12.2370 per ...
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Oncolytics cancer drug meets mid-stage trial goal shares rise
(Reuters) - Oncolytics Biotech Inc said preliminary data from a mid-stage trial showed that its cancer drug, Reolysin, met the main goal of reducing the size of tumors in patients with metastatic melanoma, a type of skin cancer. Shares of the Calgary-based company rose as much as 11 percent to C$3.14 on the Toronto Stock Exchange on Wednesday. Its Nasdaq-listed shares were up 10 percent. ...
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Euro extends gains vs dollar on Bernanke testimony
NEW YORK | Wed May 22, 2013 10:10am EDT NEW YORK May 22 (Reuters) - The euro extended gains against the dollar, while the dollar pared gains against the Swiss franc and yen on Wednesday after Federal Reserve Chairman Ben Bernanke said monetary stimulus is helping the U.S. economy recover and the central bank needs to see further signs of traction before it removes existing measures. The ...
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Clearwire recommends vote for revised Sprint bid
Wireless service provider Clearwire announced the decision just a day after Sprint raised its offer for the almost 50 percent of the company it does not already own to $3.40 per share from $2.97 per ...
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COLUMN-Keystone XL double standard Tale of 2 pipelines Campbell
Wed May 22, 2013 9:50am EDT By Robert Campbell NEW YORK May 22 (Reuters) - A casual observer familiar with the Keystone XL saga would think the United States was making it very hard to build any oil sands-related pipelines. But nothing could be farther from the truth. While TransCanada Corp's Keystone XL is mired in seemingly endless studies, a competing project that could carry hundreds of ...
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CANADA FX DEBT-C$ weakens to 10-wk low on soft retail sales eyes on Fed
* C$ at C$1.0310 vs US$, or 96.99 U.S. cents * Flat domestic retail sales data prompts fall * Fed testimony and minutes on tap, likely to move the pair By Alastair Sharp TORONTO, May 22 (Reuters) - The Canadian dollar took a hit from unexpectedly soft domestic retail sales data, sliding to a 10-week low against the U.S. dollar on Wednesday ahead of key testimony from U.S. Federal Reserve ...
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CANADA STOCKS-TSX opens higher in broad gains led by gold miners
TORONTO, May 22 (Reuters) - Canada's main stock index opened sharply higher on Wednesday, led by Barrick Gold Corp and Goldcorp, as the bullion price rose on physical demand from China and comments from some U.S. Federal Reserve officials suggesting policy will remain stimulative. The Toronto Stock Exchange's S&P/TSX composite index was up 61.64 points, or 0.5 percent at 12,804.07. All ...
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UPDATE 1-U.S. natgas futures lower after three days of gains
* Front month remains under recent 21-month high * Weather forecasts warmer for the next two weeks * Coming Up: EIA natgas storage data on Thursday By Eileen Houlihan NEW YORK, May 22 (Reuters) - U.S. natural gas futures edged lower early on Wednesday, likely in some profit taking after the front month contract rose nearly 7 percent in the past three sessions to a three-week spot high. But with ...
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UPDATE 1-Ghana central bank raises prime rate to 16 pct
Wed May 22, 2013 9:41am EDT ACCRA May 22 (Reuters) - Ghana's central bank raised its prime interest rate by one percentage point to 16 percent on Wednesday, citing potential inflation risks from a weakening cedi currency and high government spending. Central Bank Governor Henry Kofi Wampah said Wednesday's monetary policy committee also discussed risks to economic growth from lower ...
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STXNEWS LATAM-Nau rates Brazils Ita buy Bradesco fair value
Wed May 22, 2013 9:41am EDT Analysts at Nau Securities led by Iigo Vega initiated on Wednesday coverage of Brazilian private-sector banks Ita Unibanco Holding SA and Banco Bradesco SA. Vega and his team rated shares of Ita "buy" with a price target of 40 reais; the rating on Bradesco is "fair value" at a target of 38 reais. In the case of Ita, Vega said that while the bank, ...
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Intuit posts 3Q profits that narrowly beat Wall Street estimates
TurboTax currently represents about a third of Intuit's annual revenue. Sales of TurboTax are expected to grow just 4 percent this year, prompting the company to invest more time and money into its online and mobile products. Shares of Mountain View-based Intuit are trading flat in early trading today, after the company posted quarterly earnings that mostly met Wall Streets expectations. The ...
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Deals of the day -- mergers and acquisitions
Wed May 22, 2013 9:34am EDT May 22 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 1330 GMT on Wednesday: ** Australia's Westfield Group is in talks to sell seven U.S. shopping malls to private real estate investment company Starwood Capital Group for more than $1 billion, a source said on ...
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Brazil posts current account gap of $8.3 bln in April
BRASILIA | Wed May 22, 2013 9:34am EDT BRASILIA May 22 (Reuters) - Brazil posted a current account deficit of $8.318 billion in April, central bank data showed on Wednesday. The country had been expected to post a deficit of $7.222 billion, according to the median forecast of 20 analysts in a Reuters survey. The forecasts for the deficit ranged from $6.5 billion to $9 ...
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UPDATE 2-Target cuts full-year forecast after weak first quarter
Wed May 22, 2013 9:32am EDT * Adjusted EPS 82 cents vs Street view 85 cents * Revenue $16.71 billion vs view $16.78 billion By Jessica Wohl May 22 (Reuters) - Target Corp cut its full-year profit forecast on Wednesday while turning in a weak first quarter with disappointing sales, as a chilly start to spring kept shoppers from buying seasonal items like clothing. Target warned in April its ...
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COLUMN-Solar panel glut may persist Gerard Wynn
Wed May 22, 2013 9:31am EDT By Gerard Wynn LONDON May 22 (Reuters) - Overcapacity in the global solar industry is unlikely to disappear soon, suggest data and strategies outlined in the recent financial reports of top manufacturers. That surplus has contributed to sharp falls in the average selling prices of solar panels, or modules, with knock-on impacts for manufacturing profit ...
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TREASURIES-U.S. bond prices firm before Bernanke testimony
Wed May 22, 2013 9:20am EDT * Investors to focus on Bernanke's remarks before Congress * FOMC minutes may offer more clues on future of QE3 * Fed to buy up to $1.75 bln in long-dated Treasuries * U.S. existing home sales seen edging up in April By Richard Leong NEW YORK, May 22 (Reuters) - U.S. Treasuries prices were little changed on Wednesday as investors awaited possible hints from ...
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