–Takeover of BP Fraught with Too Much Incalculable Liability Risk BP’s tragic blunder in the Gulf and overall selloff in global equities have investors in the international oil giant seeing red, with shares of BP plunging 25% since April 20 and recent speculation the company is ripe for merger or outright takeover creeping into Wall [...]
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BHP Billiton Ltd. (BHP) Steps up Oil and Gas Exploration, says Unit President
BHP Billiton Ltd. (NYSE: BHP) said Monday it is embarking on an acquisitions program to expand its business while the recent market selloff of global assets has reached attractive levels. The Australia-based global miner also said the Gulf of Mexico oil-spill crisis has impacted some of its projects there, cutting top-line growth from its previous [...]
Dollar Tree (DLTR) Post Rising Earnings, Citing More Traffic
Dollar Tree Inc. (Nasdaq: DLTR) posted a 5.3 per cent hike in profit for the first-quarter ended May 1, citing more traffic at its stores and higher same-store sales. The Chesapeake, Va.-based company said its profit increased to $63.6 million, or 73 cents per share, from $60.4 million, or 66 cents per share, for the [...]
Visteon Corp. (VSTNQ) Jumps as News about Acquisition Surfaces
Shares of Visteon Corporation (OTC: VSTNQ) surged more than 70% in today’s trading. The OTC stock reached a high of $1.28 in early trading. At last check, it was up 76.06% to $1.26, with volume up from daily average of 4.34 million to 4.56 million. Van Buren Township, Michigan-based Visteon is supplies components to automotive [...]
Polo Ralph Lauren Corporation (RL) Closes 2.73% Higher
Shares of Polo Ralph Lauren Corporation (NYSE: RL) jumped more than 3% in today’s trading. The stock reached a high of $89.26 in trading, and closed 2.73% higher at $88.12. Volume was up from daily average of 1.01 million to 5.58 million. Earlier today, Polo Ralph Lauren reported its fourth quarter and fiscal 2010 results. [...]
Is HP (HPQ) Cheap?
Hewlett-Packard’s (NYSE: HPQ) stock has suffered since late April, when the world’s leading manufacturer of PCs by volume announced its acquisition of Palm Inc. (Nasdaq: PALM). The stock has declined 12% since then, the second most-declined behind leading Dow laggard American Express’ 13% during the same period. The $1.2 billion price tag for Palm appears [...]
OSI (OSIP) Agrees to Astellas $4 Billion Offer Following 2 1/2-year Negotiation
Monday, May 17, 2010—Astellas Pharma Inc. reached agreement with the board of OSI Pharmaceutical Inc. (Nasdaq: OSIP) Monday to buy the U.S.-based oncology and diabetes drug maker in an all-cash deal valued at $4 billion. Japan’s second-largest pharmaceutical will pay $57.50 per OSI share following two-plus-years of negotiations, beginning December of 2008. Astellas’ boosted offer [...]
Cisco (CSCO) Posts 63% Rise in Earnings, Citing Strong Corporate Spending
Cisco Systems (Nasdaq: CSCO) posted better-than-expected third-quarter earnings, citing growing confidence among customers to spend in an economy perceived as recovering. Shares of Cisco dropped 2.1 per cent to $26.19 in after-hours trading. “We witnessed a return to strong balanced growth across geographies, products and customer segments that we haven’t seen since before the global [...]