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The euro fell to its weakest level against the dollar since August 2010 on speculation a summit of European Union leaders will provide no new measures to stem the sovereign-debt crisis.
Regards,
Don
Stock News
Demand for new U.S. homes increased more than forecast in April as low prices and mortgage interest rates drew buyers.
Purchases rose to a 343,000 annual rate, up 3.3 percent from a revised 332,000 in March, the Commerce Department reported today in Washington. The median forecast in a Bloomberg News survey of economists was 335,000. Data released yesterday showed sales of existing homes rose in April in every region.
Regards,
Don
German utility E.ON (EONGn.DE) has drawn lukewarm interest in the sale of its Energy from Waste unit, with bids unlikely to top 800 million to 1 billion euros (1.0-1.3 billion), three people familiar with the sales process said.
Regards,
Don
GlaxoSmithKline (GSK.L) said it amended the conditions of its tender offer to acquire U.S. biotechnology company Human Genome Sciences (HGSI.O) in an attempt to address the target company’s rights plan, which GSK called a “poison pill”.
Regards,
Don
Top European software company SAP AG plans to buy Ariba Inc in a deal valuing the business and commerce network company at $4.3 billion, its latest maneuver against Oracle in the fast-growing Internet-based computing market.
Regards,
Don
Stocks fell at the open on Wednesday on mounting concerns over Greece’s future in the euro zone and as a weaker-than-expected revenue forecast from computer maker Dell weighed on investor sentiment.
The Dow Jones industrial average .DJI dropped 64.41 points, or 0.52 percent, to 12,438.40. The S&P 500 Index .SPX fell 7.93 points, or 0.60 percent, to 1,308.70. The Nasdaq Composite Index .IXIC lost 24.59 points, or 0.87 percent, to 2,814.49.
Regards,
Don
Dell Inc’s (DELL.O) weak forecast and disappointing quarterly results triggered price target cuts from a slew of brokerages on the stock of the world’s No.3 personal computer maker.
Regards,
Don
Facebook Inc, Chief Executive Mark Zuckerberg, and several banks led by Morgan Stanley were sued by shareholders, who claimed the defendants hid the social networking leader’s weakened growth forecasts ahead of its $16 billion initial public offering.
Regards,
Don
Euro zone officials have agreed that each euro zone country must prepare an individual contingency plan in the eventuality that Greecedecides to leave the single currency area, two eurozone officials said on Wednesday.
Regards,
Don
Two top U.S. financial regulators said on Tuesday the issues around the initial public offering of Facebook should be reviewed, putting fresh pressure on the company, its lead underwriter, Morgan Stanley, and the Nasdaq stock exchange.
Regards,
Don
