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Old 12-15-2003, 09:55 AM
jjgold jjgold is offline
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06:49 ET Teva Pharma files Universal Shelf covering $2 bln of securities (TEVA) 57.80: Co files a shelf registration statement with the SEC allow Teva to offer from time to time up to $2 bln in various types of securities, including ADRs, debt securities, which may be convertible into ADRs, and other securities. "We may use part of this shelf registration statement to finance or refinance part of the cash portion of the pending Sicor acquisition. In any case, we do not have any immediate plans to utilize the entire amount covered by this shelf, but instead have filed this universal shelf to maintain financial flexibility for future needs."
06:47 ET Millennium Pharma ends trial after Velcade achieves statistically significant improvement in Primary Endpoint (MLNM) 16.41: Co announces that, , based on the recommendation of an independent data monitoring committee and the notification of regulatory authorities, it is halting the control arm in the phase III APEX trial. This allows patients currently receiving dexamethasone the option to immediately crossover to Velcade for Injection therapy. The findings of a pre-specified interim analysis found a statistically significant improvement in time to disease progression -- the primary endpoint of the trial -- in patients receiving Velcade compared to patients receiving high-dose dexamethasone. "Data from this trial were previously scheduled to be available in 2005 and this accelerates our timetable by over a year."
06:44 ET Westell Tech maintains Q3 guidance (WSTL) 6.19: In an 8-K filing with the SEC, co maintained previously stated Q3 guidance of $0.07 in EPS and revs of $58-$59 mln -- Reuters Research consensus $0.08 and $59.50 mln. The comments were associated with disclosure by co that it has terminated an existing long distance agreement that will result in a net one-time termination penalty of $750,000, which will be charged to expense in the DecQ. Co anticipates recouping the termination penalty with the lower long distance costs over the first five-month period of a new long distance agreement.
06:33 ET European Summary : European indexes showing solid gains on optimism the capture of Saddam Hussein will lead to fewer attacks on coalition forces in Iraq and boost confidence in the U.S., Europe's largest export market. Exporters including Nokia (NOK) and Royal Philips Electronics (PHG) leading the way higher. Oil stocks such as BP (B) and Royal Dutch/Shell (RD) underperforming as crude prices dipped. Germany's Henkel said on Monday it will buy U.S. detergent maker Dial Corp (DL) for $2.9 billion in cash, boosting its North American reach and a brand range that already includes Persil washing powder. Later Henkel said it planned to finance the deal by selling a significant part of its 29.7 percent stake in U.S. household goods maker Clorox (CLX), its 28.2 percent stake in Minnesota-based Ecolab Inc (ECL) or a combination of both, Reuters reporting... The dollar rose across the board on Monday, rebounding more than a cent from last week's record low against the euro as the weekend capture of former Iraqi President Saddam Hussein forced greenback bears into retreat. But the U.S. currency pared initial gains as news of two deadly car bombs in and near Baghdad fueled concern the former dictator's arrest would not mean an end to security worries or the cost of the U.S. occupation.
06:29 ET S&P futures vs fair value: +12.7. Nasdaq futures vs fair value: +25.5.
06:29 ET European Markets FTSE...4372.10...+24.50...+0.6%. DAX...3911.94...+51.81...+1.3%.
06:29 ET Asian Markets Nikkei...10490.77...+321.11...+3.2%. Hang Seng...12520.17...-74.25...-0.6%
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Old 12-15-2003, 12:10 PM
jjgold jjgold is offline
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09:09 ET eResearchTech inks $1.4 mln cardiac safety monitoring agreement (ERES) 24.50: ...
09:08 ET Internet Capital to continue Nasdaq listing (ICGE) 0.33: Co receives notice of the continuation of its listing status on the Nasdaq SmallCap Market. The Nasdaq Listing Qualifications Panel has granted ICGE an exception to the bid price requirement through January 30, 2004, to allow for further developments in the SEC rulemaking process.
09:08 ET CNBC reports that Sec of State Colin Powell undergoing prostate cancer surgery today :
09:04 ET PRSF initiated at Kaufman Bros with a Buy, tgt $9 6.06: Kaufman Bros initiates coverage of Portal Software with a Buy rating and $9 target.. The company reported disappointing OctQ results due to execution and revenue timing issues associated with several project implementations. The co differentiates itself with aggressive direct sales coverage, third-generation software for convergent services, significant partnerships, and major customers worldwide. Portal bolstered its balance sheet in Sep through the completion of a stock offering. Co now has 91 mln in cash and virtually no debt. The price target is based on EV/sales of 2x FY06E revenueof $160 mln.
09:03 ET General Dynamics awarded $2 bln contract by Boeing (GD) 84.53: General Dynamics Land Systems, a wholly owned subsidiary of GD, was awarded a $2 bln contract by Boeing for engineering development and demonstration of a family of manned ground vehicles for the U.S. Army's Future Combat Systems (FCS) program. Under this contract GD is leading the Manned Ground Vehicle common design team through engineering development, testing and demonstration of prototypes. Manned Ground Vehicles will be a new generation of Army combat vehicles replacing today's tanks, artillery and infantry carriers. Co is also responsible for the development and integration of the Mounted Combat System, Command and Control Vehicle, and Reconnaissance and Surveillance Vehicle through 2009.
09:02 ET Loudeye Music Store to be deployed by AT&T Wireless and Gibson (LOUD) 1.50: Co and Microsoft announce they are working together to enable businesses to rapidly and cost-effectively deploy their own branded digital music services and stores. The two companies will promote the adoption of Loudeye's new digital music solutions, which are built on the Microsoft Windows Media 9 Series platform and which make it possible for other companies to create and launch their own digital music stores and services for a significantly reduced upfront financial investment. Initial customers of Loudeye digital music solutions using Windows Media 9 Series includ
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Old 12-15-2003, 03:33 PM
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12:30 ET Dow +66, Nasdaq +7, S&P +4.45: [BRIEFING.COM] Having pared a sizeable portion of their earlier gains, the major averages are trending sideways in positive territory... While the capture of Saddam Hussein is proving to be of limited impact on the market, consistent with Briefing.com's expectation, we think it is supportive to the stock market's underlying bullish fundamentals... Specifically, aside from reducing some of the risk premium associated with terrorism, Hussein's capture also may prove to be a positive for consumer sentiment, thereby providing a direct boost to the domestic economy... While such a boost is likely to ultimately prove to be temporary, it's clearly good news for global politics, economies, and the stock market... Note that the European bourses closed well off their session highs, as their Saddam enthusiasm was tempered by U.S. stocks' muted response... NYSE Adv/Dec 1905/1224... Nasdaq Adv/Dec 1495/1506.

12:00 ET Dow +75, Nasdaq +10, S&P +5.58: [BRIEFING.COM] Today is no average day, as the news of Saddam Hussein's capture dominate the scene... While the major averages staged a rally at market open, they have since weakened... The market's ability to maintain its standing in positive territory is not to be underestimated, though, especially considering the fact that the Dow and the S&P 500 set a new 52-week high in today's session and the Nasdaq is trading within reach of its best levels of the year... While the market's failure to maintain the entirety of its earlier gains can be perceived as disappointing, it's consistent with Briefing.com's view that the impact of the "Saddam Effect" is only a temporary one... Nevertheless, it's contributing to the stock market's underlying bullish fundamentals, which include historically-low interest rates, strong profit growth, the Fed's indication for a considerable period of accommodative policy, and an accelerating economy... With respect to the latter, the market received additional proof this morning in the form of the NY Empire State report, which at 37.4 (consensus 35.0) confirmed the continued recovery in the manufacturing sector and boded well for the ISM report... While the major averages are off their session highs, dips are being used as buying opportunities and the bulk of the sectors, although little changed, are in positive territory... Among the leaders to the upside are the biotech, internet, aluminum, steel, and hotel sectors... Laggards of note include the oil services and healthcare groups, while the gold and banking sectors are also in the red... The bond market is showing losses across the yield curve, with the 10-year note down -6/32, bringing its yield up to 4.26%... NYSE Adv/Dec 1884/1221... Nasdaq Adv/Dec 1490/1473
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Old 12-15-2003, 06:04 PM
jjgold jjgold is offline
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15:00 ET Dow +15, Nasdaq -12, S&P -1.88: [BRIEFING.COM] Little change in the last half an hour, as the major averages continue trading near their session lows... Although today's lack of a sustainable rally in the face of Saddam Hussein's capture could be perceived as disappointing, it validated Briefing.com's belief that the "Saddam Effect" was going to be only temporary... Accordingly, although today's session has not seen an influx of new buyers, selling has remained limited at most... The mild sell-off in the Nasdaq is consistent with Briefing.com's view that some of the technology sectors are frothy at this juncture... Nevertheless, this doesn't mean that the stock market as a whole is overvalued... On the contrary, longer-term Briefing.com maintains its moderately bullish view of the market and thinks that current valuations are, for the most part, justified as long as interest rates remain at their historically-low levels... Please read the Market View for more details... NYSE Adv/Dec 1669/1590... Nasdaq Adv/Dec 1242/1911.

14:30 ET Dow +55, Nasdaq -2, S&P +3: [BRIEFING.COM] The major averages are sticking near their session lows, as the market's failure to produce a meaningful rally on the heels of Saddam Hussein's capture has resulted in a rather unexciting session... The Nasdaq remains stuck in negative territory, while its blue-chip counterparts are sporting mild gains... There's little in terms of sector leadership, although the gold sector, which had previously been on the defensive, is now among the leaders to the upside... Its strength coincides with an improvement in the price of gold... Although still down $0.20, the price of gold has been in a steady advance for the entirety of the session as the dollar continued to weaken against the euro... The price of crude oil is also little changed, erasing the loss prompted by
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