Sepracor Inc., the maker of Lunesta
sleeping pills, reported a loss on a drug licensing payment and
lower reimbursement rates for its asthma drug Xopenex. The
company will restate earnings since 2005, and cut its forecast.
The fourth-quarter net loss of $5 million, or 5 cents […]
NEW YORK, March 27 (Reuters) - In his latest book, Wall
Street strategist Barton Biggs contends that financial markets
predicted key turning points in World War Two, and investors
can use that predictive power to survive catastrophe.
Biggs, one of Wall Street’s biggest stars when he was at
Morgan Stanley, lays out in “Wealth, War %26amp; Wisdom” (Wiley,
$29.95) […]
U.S. stocks rallied in the final 30
minutes of trading, helping the market post its second straight
weekly gain, as speculation bond insurer Ambac Financial Group
Inc. may be rescued overcame concern bank earnings will falter.
American International Group Inc. and JPMorgan Chase Co.
led the […]
Hephaestus Holdings Inc., whose
subsidiaries forge parts for auto makers, emerged as the winning
bidder at an auction for the bearings business belonging to
Delphi Corp. Neither Delphi nor the buyer disclosed the price in
statements yesterday.
The hearing to approve the sale is scheduled for March […]
Sanlam Ltd., the second-biggest
insurer in Africa, said profit rose as much as 30 percent in
2007, beating analysts estimates, helped by new policy sales.
So-called core earnings a share climbed between 25 percent
and 30 percent last year from 2006, the Cape Town-based insurer
said today […]
Sanlam Ltd., the second-biggest
insurer in Africa, said profit rose as much as 30 percent in
2007, beating analysts estimates, helped by new policy sales.
So-called core earnings a share climbed between 25 percent
and 30 percent last year from 2006, the Cape Town-based insurer
said today […]
Japan’s Nikkei stock market surged by 4.3 percent on Valentine’s Day — its biggest one-day jump in six years — following better-than-expected economic growth figures.
Reliance Power’s share price slumped by 17 percent on its first day of trading. The company launched its share issue last month, attracting millions of small investors and raising $3 billion […]
NEW YORK
- Long-term Treasury prices plunged Tuesday after investor Warren Buffett offered to provide extra guarantees on over $800 billion in municipal bonds backed by troubled insurers MBIA Inc, Ambac Financial Group Inc. and FGIC Corp.The offer seemed to promise more stability to a municipal debt market […]
NEW YORK - Wall Street finished higher in an uneasy session Monday as retail and homebuilders stocks rose on expectations for more interest rate cuts, but banks and insurers fell on worries about further mortgage debt troubles.
The Federal Reserve has been in rate-cutting mode this year and it is expected to lower the federal funds […]
NEW YORK - Bank of America Corp. and Chevron Corp. will replace tobacco company Altria Group Inc. and manufacturer Honeywell International Inc. in the Dow Jones industrial average, giving the stock market’s best-known indicator bigger slices of the banking and energy sectors.
The changes to the index, which since 1928 has comprised 30 stocks, reflects changes […]