A former partner of D.E. Shaw and an ex-Goldman Sachs (GS.N) partner are setting up a new firm to raise about $500 million for a China-focused private equity fund to join the growing competition for deals in the world's No.2 economy, sources told Reuters on Wednesday.
Spot gold rallied to a record of $1,432.10 an ounce, surpassing its previous record of $1,430.95 set on December 7, as chaos in Libya and political turmoil in the Arab world prompted safe-haven buying and soaring oil prices boosted bullion's inflation hedge appeal.
Gold jumped against a falling Dollar in London trade on Tuesday, touching $1,432.10 per ounce, one dollar above the all-time peak of 7th Dec. Silver marks a fresh all-time high at $34.44/oz, while Western stock markets fell and Brent crude oil rose towards new two-year highs.
Three in ten Americans expect the economy to improve in the coming year, according to The Harris Poll which surveyed 3,171 adults online between Feb. 14 and 21, 2011.
The silver market has greeted the revival of forward sales by miners with sanguinity as prices sit at 31-year highs, but other signals suggest supply may really be scarce and investors are poised for more price gains.
Spot gold rose to a session peak at $1,421.35 an ounce and was up 0.6 percent at $1,419.66 an ounce by 1240 GMT. It rose 6 percent in February, its largest monthly rise since August, when the U.S. Federal Reserve first indicated that it would continue the massive money printing by monetizing government bonds.
US stocks advanced in early trade on Tuesday, the first trading day of March, after markets recorded third consecutive monthly gains in February.
Chip maker Advanced Micro Devices (NYSE: AMD) could be an attractive acquisition target for companies, including Broadcom Corp. and Oracle.
The top pre-market NASDAQ stock market gainers are: Novavax, Sonus Networks, SodaStream International, Akorn, and A123 Systems. The top pre-market NASDAQ stock market losers are: Central European Distribution, YRC Worldwide, Avago Technologies, Exterran Partners, and Partner Communications.
The companies whose shares are moving in pre-market trade on Tuesday are: Forest Laboratories, Autozone, Lorillard, Jds Uniphase, Windstream, KeyCorp, Eog Resources, Health Care REIT, Southwestern Energy and Huntington Bancshares.
Google Ventures and Khosla Ventures have invested $42 million in a San Francisco-based start up WeatherBill, a provider of insurance to farmers against weather-related damages.
Shares of Tenet Healthcare Corp. (THC) touched a new 52-week high of $7.27 on Monday. The company said Friday that its fourth quarter earnings more than tripled as patient visits improved signaling better consumer confidence.
Honda and Subaru still make the best vehicles overall, but Ford posted the largest gain in the past year, improving in its road-test and reliability scores, Consumer Reports said. Newer models such as the Flex SUV pumped up Ford's overall road-test score.
Shares of Qualcomm Inc. (NASDAQ: QCOM) touched a new 52-week high of $59.80 on Monday, compared to its previous high of $59.43 on Feb. 18.
The top after-market NYSE gainers on Monday are: Dex One, Swift Energy, Ashford Hospitality, Calix and Lorillard. The top after-market NYSE losers are: Youku.com, iStar Financial, Warnaco Group, Clear Channel and Excel Maritime Carriers.
U.S.-based discount coupon site Groupon.com has launched a group-buying site in China, called Gaopeng.com.
Vertex Pharmaceuticals Inc. (NASDAQ: VRTX) announced positive results on Wednesday from a late-stage STRIVE study of its oral drug VX-770 for treatment of cystic fibrosis, a genetic disease that impairs the lung. The shares of the drugmaker touched a new 52-week high of $46.75 on Monday.
The top after-market NASDAQ stock market gainers are: Novavax, Sonus Networks, SuperGen, Global Defense Technology & Systems, and SuperMedia. The top after-market NASDAQ stock market losers are: YRC Worldwide, Hickory Tech, Smith Micro Software, Exterran Partners, and VIVUS.
Hong Kong-listed shares of HSBC Holdings Plc fell more than 5 percent on Tuesday, the biggest single-day decline in almost a year after Europe's biggest bank cut its profitability target citing the cost of tougher banking regulations.
Shanghai and Hong Kong look set for a collision course as they seek to attract yuan listings by foreign firms, in a battle where the mainland market may have the upper hand initially.
Chinese shares rose on Tuesday on decent volume suggesting further strength ahead, while markets in Hong Kong struggled to hold gains under pressure from a near 5 percent slide in heavyweight HSBC.
What's the secret to Canada's success? A major one is natural resources
Gold was little changed near $1,410 an ounce on Monday but notched its biggest monthly gain since August as chaos in Libya and rising tensions across the Middle East prompted investors to buy the metal as a safe haven. The US dollar lost its status and is at November lows.
U.S. stocks got a boost from some bullish comments by uber-investor Warren Buffett over the weekend and a number of M&A deals. The stock market rose in February, marking the third consecutive month of equity price gains.
The Middle East unrest has been bad for the global markets. The following are stock markets that have been pummeled by the Middle East revolts; unrest either happened there or is expected to happen in the future.
Senegalese telecom operator Sonatel saw 2010 net profits slip as tougher competition nibbled at its margins and it was hit by a temporary tax surcharge on incoming traffic, the group said.
RBC Capital Markets upgraded its rating on shares of Medicis Pharmaceutical Corp. (NYSE: MRX) to outperform with above average risk from sector perform and increased its price target to $32 from $30.
BMO Capital Markets has downgraded shares of FMCG giant Procter & Gamble to market perform from outperform, saying that the earnings growth in the second half will be slower than its expectations.
US stocks opened higher in early trade on Monday, with S&P 500 Index gaining 7.54 points, or 0.57 percent, to trade at 1,326.97 at 09:55 a.m. EST. The Dow Jones Industrial Average is up 76.82 points, or 0.63 percent, to trade at 12,207.27. The Nasdaq Composite Index rose 0.49 percent to trade at 2,795.40.
RBC Capital Markets upgraded its rating on shares of Sunstone Hotel Investors Inc. (NYSE: SHO) to "outperform" with above average risk from "sector perform" and increased price target to $14 from $11.
