Merck tops forecasts after research budget trimmed

Merck tops forecasts after research budget trimmed Stock Market PredictionsNEW YORK (Global Markets) - Merck & Co (MRK.N) reported higher-than-expected quarterly earnings, helped by trimming its research spending and strong sales of its drugs for diabetes, asthma and rheumatoid arthritis. The second-largest U.S. drugmaker, whose shares were 0.3 percent higher, also slightly raised the lower end of its 2011 earnings forecast."Overall, we are pleased with today's results, particularly coming off a difficult fourth quarter when the company withdrew...

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Clearwire rallies on subs growth, MetroPCS deal talk

Clearwire rallies on subs growth, MetroPCS deal talk Stock Market PredictionsNEW YORK (Global Markets) - Clearwire Corp reported (CLWR.O) better-than-expected subscriber numbers on Thursday, while MetroPCS Communications (PCS.N) said it is interested in spectrum deal with the wireless telecommunications company. The numbers and Clearwire's preliminary third-quarter results, seemed to ease concerns about the company, which has been the subject of bankruptcy speculation.Shares in Clearwire, which is majority-owned by Sprint Nextel (S.N), rose 26...

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Goldman to face mortgage debt class-action lawsuit

Goldman to face mortgage debt class-action lawsuit Stock Market Predictions(Global Markets) - Goldman Sachs Group Inc was ordered by a federal judge to face a securities class-action lawsuit accusing it of defrauding investors about a 2006 offering of securities backed by risky mortgage loans from a now-defunct lender. U.S. District Judge Harold Baer in Manhattan certified a class-action lawsuit by investors led by the Public Employees' Retirement System of Mississippi.These investors claimed they lost money in the GSAMP Trust 2006-S2, a $698 million...

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Chipmaker Micron hit by weak PC sales, stock slumps

Chipmaker Micron hit by weak PC sales, stock slumps Stock Market PredictionsSAN FRANCISCO (Global Markets) - Memory chipmaker Micron Technology (MU.O) posted quarterly results below expectations and warned of low visibility in a weak consumer PC market, slamming its shares. Boise, Idaho-based Micron's stock had already slumped 25 percent since the end of April due to worries about lackluster PC sales and potential steep losses in an antitrust trial against Rambus (RMBS.O).Micron's poor results on Thursday pushed its shares down 12.9 percent in...

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AOL approves buyback after shares tumbled 32 percent

AOL approves buyback after shares tumbled 32 percent Stock Market PredictionsNEW YORK (Global Markets) - AOL said on Thursday it would buy back $250 million of its stock, a move presumably intended to boost confidence in the shares, which fell 32 percent in two days. After the announcement, the shares rose as much 22 percent.The drop had wiped out $518 million in value, since the company reported second-quarter results on Tuesday that missed profit expectations amid weak advertising growth.AOL Chief Executive Tim Armstrong said during a call with...

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Apache quarterly profit up, tops Street

Apache quarterly profit up, tops Street Stock Market PredictionsHOUSTON (Global Markets) - Apache Corp (APA.N) reported a better-than-expected 40 percent increase in quarterly profit on Thursday, fueled by record oil and natural gas production and higher crude prices. Shares of Apache, which has operations in Australia, the U.S., Egypt and the North Sea, fell 7 percent, weighed down by the market's broad losses and weakness in crude oil.Most oil and gas companies saw profits rise in the second quarter as oil and natural gas prices rose from a...

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True Religion slumps after weak forecast; analysts cut ratings

True Religion slumps after weak forecast; analysts cut ratings Stock Market Predictions(Global Markets) - Shares of denim maker True Religion Apparel Inc (TRLG.O) lost as much as a quarter of their value on Friday after the company forecast weak 2012 results, prompting at least two brokerages to downgrade the stock. Citigroup cut True Religion to "neutral" from "buy," and said the company's international business would weigh on earnings over the next year.On Thursday, the company, which sells its namesake jeans for as much as $300 in specialty...

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NCI shares nosedive on weak outlook

NCI shares nosedive on weak outlook Stock Market Predictions(Global Markets) - Shares of NCI Inc (NCIT.O) fell 33 percent to their lifetime low after the IT services provider gave a bleak full-year revenue outlook citing continued uncertainty in the United States federal sector. The Reston, Virginia-based company, which caters to the U.S. federal government agencies, on Thursday said it expects revenue of $340 million to $360 million. Analysts on average were expecting $514 million, according to Thomson Global Markets I/B/E/S."A number of factors...

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China's XCMG to market $1.5 billion HK share offer from Sept 5

China's XCMG to market $1.5 billion HK share offer from Sept 5 Stock Market PredictionsHONG KONG (Global Markets) - XCMG Construction Machinery Co Ltd (000425.SZ) is slated to start pre-marketing on September 5 for an up to $1.5 billion planned share listing in Hong Kong, IFR reported on Friday. The Shenzhen-listed company, which makes bulldozers, excavators and heavy trucks, secured approval from the listing committee at Hong Kong's stock exchange on Thursday, added IFR, a Thomson Global Markets publication.The company joins rival Sany Heavy...

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American Axle profit beats Street

American Axle profit beats Street Stock Market Predictions(Global Markets) - U.S. auto parts maker American Axle and Manufacturing Holdings Inc (AXL.N) posted a fourth-quarter profit that beat market expectations on the back of higher margins. The company, which makes axles and other driveline components for trucks and larger vehicles, also reaffirmed its forecasts for 2012 sales and margins. Shares were up 2.4 percent in afternoon trading."We're seeing signs of strengths in the economy," Chief Financial Officer Michael Simonte said in a telephone...

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Huntsman shares plunge 31 percent after profit miss

Huntsman shares plunge 31 percent after profit miss Stock Market PredictionsNEW YORK (Global Markets) - Huntsman Corp (HUN.N) shares lost nearly a third of their value on Thursday after the chemical maker's second-quarter profit missed Wall Street's expectations because of higher supply costs. The results confirmed what many chemical investors have feared for the past year: rising costs for crude oil and other feedstocks cannot be passed on to customers indefinitely.Chief Executive Peter Huntsman, brother of U.S. presidential candidate Jon Huntsman,...

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Few banks to follow UniCredit share sale example

Few banks to follow UniCredit share sale example Stock Market PredictionsLONDON (Global Markets) - Markets will breathe a sigh of relief as beleaguered Italian bank UniCredit (CRDI.MI) completes its 7.5 billion euro ($9.7 billion) rights issue on Friday, but few expect it to prompt a flurry of share sale activity from other lenders. Some 31 European banks have been told to fill a 115 billion euro collective hole in their balance sheets by the end of June as part of moves to tackle the continent's sovereign debt crisis.But most are finding ways...

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Analysis: Can Zynga break free from Facebook?

Analysis: Can Zynga break free from Facebook? Stock Market PredictionsNEW YORK (Global Markets) - "We generate substantially all of our revenue and players through the Facebook platform and expect to continue to do so for the foreseeable future," Zynga wrote in its IPO prospectus. Technically, the admission is called a risk factor. But since Zynga, the wildly popular maker of mobile and social games such as "Mafia Wars" and "FarmVille," generates about 95 percent of its revenue through Facebook, the worry for investors is that its relationship...

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FDA lifts hold on Insmed's lung disease drug

FDA lifts hold on Insmed's lung disease drug Stock Market Predictions(Global Markets) - Insmed Inc (INSM.O) said U.S. health regulators lifted a clinical hold on its lead drug to treat a form of lung disease that currently has no approved cure, sending the biopharmaceutical company's shares soaring 45 percent. The U.S. Food and Drug Administration lifted a clinical hold on the drug Arikace for treating non-tuberculous mycobacteria (NTM) lung disease, paving the way for the company to continue a mid-stage study.The regulator had put the drug on...

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Adani Power lists at Rs 105

Bombay Stock Exchange’s Sensex was trading at 15023, up 203 points. National Stock Exchange’s Nifty was trading at 4400, higher by 33 points on 20th August 2009.Adani Power Ltd , whose IPO powered the primary market space with good response from investors, opened at Rs 105, at a premium of Rs 5 from its issue price of Rs 100 as the company made its debut on the bourses on first day of this tradi...

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Timberland disappoints as margins shrink; shares plunge

Timberland disappoints as margins shrink; shares plunge Stock Market PredictionsBANGALORE (Global Markets) - Timberland Co (TBL.N) said it expects margins to remain under pressure this year as the shoemaker battles rising product and labor costs, sending its shares plunging 32 percent. The company, known for its rugged outdoor footwear brands such as Earthkeepers, Howies and Mountain Athletics brands, also posted a quarterly profit that missed Wall Street expectations for the first time in seven quarters.Timberland has consistently warned of margin...

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RELIANCE-RPL merger: Swap ratio fixed at 1:16

Mukesh Ambani-controlled Reliance Industries Limited (RIL) and Reliance Petroleum Limited (RPL) have been merged into one entity. According to a release issued by Reliance to the BSE, the company's board approved a Scheme of Amalgamation("the Scheme") of Reliance Petroleum Ltd (RPL) (the "Transferor Company") with the company under the provisions of Sections 391 to 394 of the Companies Act, 1956.The merger ratio is slightly in favour of RPL, and RIL said the merger will be effective from April 1, 2008. The boards have decided the swap ratio at...

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Groupon shares surge but concerns linger

Groupon shares surge but concerns linger Stock Market PredictionsNEW YORK/SAN FRANCISCO (Global Markets) - Shares of Groupon Inc surged as much as 56 percent on Friday, a solid debut aided by a small number of shares sold, yet still fell short of the first-day performances of recent Internet IPOs. Groupon's stock closed up 31 percent but the first day pop paled in comparison to LinkedIn, the professional social network that went public in May, whose shares doubled in their debut. Real estate website Zillow also nearly doubled in its debut in July.Groupon...

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Sports Prediction by Astrology18.com

Sports Prediction is not easy for everybody. It is very difficult to predict who will win the FIFA world cup 2010 South Africa. However, Astrology18.com has been doing this serious job with marvelous accuracy. FIFA world cup 2010 South Africa Final match was played on 11th July 2010 and Astrology18.com has predicted on 9th July 2010 before Third place match between Uruguay and Germany that Spain would become victorious in FIFA world cup 2010 South Africa and will become Campion. Finally, Spain has won FIFA world cup 2010 South Africa and...

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Newell beats; outlook not as bad as feared

Newell beats; outlook not as bad as feared Stock Market PredictionsNEW YORK (Global Markets) - Newell Rubbermaid Inc (NWL.N) beat Wall Street's lowered quarterly profit and sales expectations as strength in Latin America and Asia Pacific offset weak demand in United States and Europe, sending its shares up almost 9 percent. The results echoed those from other consumer products makers. Big gains in Latin America covered up U.S. declines at Colgate-Palmolive (CL.N) and Avon Products (AVP.N) as well.Newell, the maker of Sharpie markers and Rubbermaid...

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Siga shares soar as co allays concerns on government contract

Siga shares soar as co allays concerns on government contract Stock Market Predictions(Global Markets) - Shares of Siga Technologies Inc (SIGA.O) jumped 34 percent on Friday, a day after board member Fran Townsend responded to allegations of unfair practices in the awarding of a multi-billion dollar government contract to the pharmaceutical company. In May, Siga was awarded a $433 million contract to supply 1.7 million doses of its ST-246 smallpox drug for the strategic national stockpile by the U.S. Department of Health and Human Services.However,...

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Banks, brokers plunge as Twist reality sinks in

Banks, brokers plunge as Twist reality sinks in Stock Market PredictionsNEW YORK (Global Markets) - Shares in Citigroup, Morgan Stanley and other big banks fell to their lowest levels in more than two-and-a-half years over growing concerns about their profitability in a deteriorating global economy. Wednesday's bleak economic outlook from the Federal Reserve, combined with its plan to lower long-term interest rates, raised fears that banks and brokerages are at risk for a prolonged period of depressed earnings.The Fed's aim with Operation Twist...

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Mitsubishi Estate to invest up to $2.47 billion in Tokyo

Mitsubishi Estate to invest up to $2.47 billion in Tokyo Stock Market Predictions(Global Markets) - Mitsubishi Estate Co (8802.T) will spend 150-200 billion yen ($1.85-$2.47 billion) to redevelop an area in Tokyo's Otemachi business district, the Nikkei business daily reported. The developer plans to build skyscrapers on a plot adjacent to the Bank of Japan headquarters. It currently owns four of the five buildings that stand on the approximately 33,000 sq. meter plot, the newspaper said.Mitsubishi Estate is likely to buy the remaining building...

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Diamond Foods slides on report of criminal inquiry

Diamond Foods slides on report of criminal inquiry Stock Market Predictions(Global Markets) - Shares of Diamond Foods Inc (DMND.O) fell as much as 11 percent on a report that federal prosecutors have launched a criminal inquiry into the company's walnut payments. The Wall Street Journal said on Thursday that the Justice Department has launched a criminal inquiry into the snack maker's accounting of payments to walnut growers while it was in talks to buy Pringles from Procter & Gamble (PG.N)."It is prudent to go to the sidelines until the audit...

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HMV equity issue not on playlist

HMV equity issue not on playlist Stock Market PredictionsLONDON (Global Markets) - British entertainment retailer HMV (HMV.L), grappling with waning demand in its core CD and DVD markets, said an equity issue was not on the agenda -- in the short term at least -- as it posted a further slump in sales. "It is not on the table today, we do not have an equity story today," chief executive Simon Fox told reporters Friday when asked about analyst speculation of a rights issue early in 2012.He said such a move would only be considered when HMV had demonstrated...

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Citi reinstates quarterly dividend at 1 cent

Citi reinstates quarterly dividend at 1 cent Stock Market PredictionsNEW YORK (Global Markets) - Citigroup Inc (C.N) declared its first dividend in more than two years on Friday, announcing it will pay a penny per share on June 17, but analysts said the bank could take a while to pay the kinds of dividends that its rivals do. The third-largest U.S. bank, which needed $45 billion in U.S. government bailouts to survive the financial crisis, said in March it planned to reinstate its dividend after shrinking its number of shares outstanding with a...

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Oshkosh shares up 16 percent as Icahn seeks talks

Oshkosh shares up 16 percent as Icahn seeks talks Stock Market PredictionsNEW YORK (Global Markets) - Shares of Oshkosh Corp (OSK.N) shot up 16 percent on Friday after billionaire investor Carl Icahn reported a 9.5 percent stake and said he was seeking talks with the specialty truck maker to enhance shareholder value. Oshkosh, which makes tactical vehicles for the military and specialty trucks for construction, is the latest diversified industrial and defense company to be targeted by activist investors for a potential breakup, at a time when...

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Shares of video game companies swing on reviews

Shares of video game companies swing on reviews Stock Market PredictionsNEW YORK (Global Markets) - Want to know why video game stocks pop or drop? Check the reviews. For years, investors have turned to video game reviews to help make buy or sell decisions, moving the share prices of some video game companies higher or lower.They consult the website Metacritic, which tracks a large amount of reviews and comes up with an average score, as well as reviews from top video game outlets such as News Corp's IGN.com and GameStop Corp's Game Informer.And...

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Groupon shares climb above $20 IPO price

Groupon shares climb above $20 IPO price Stock Market Predictions(Global Markets) - Groupon Inc shares rose above their $20 initial public offering price on Friday. Groupon stock slumped below $20 last month on concern about competition from rival LivingSocial and how the European debt crisis might affect overseas growth.However, Groupon released strong early holiday sales numbers this week and executives said international growth remains strong.Groupon shares rose more than 7 percent to an intraday high of $20.82 on Friday. The stock was up 5.5...

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FDA says no need to recall Enfamil formula

FDA says no need to recall Enfamil formula Stock Market Predictions(Global Markets) - U.S. health officials said they found no trace of potentially deadly bacteria that killed two infants in recent weeks in sealed cans of Enfamil baby formula, and that a recall was unnecessary, providing relief for the product's manufacturer, Mead Johnson Nutrition Co. The death of one baby, 10-day-old Avery Cornett in Missouri on December 18, is what led chains including Wal-Mart Stores Inc, Walgreen Co and Kroger to pull some cans of Enfamil Newborn from shelves...

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