NEW YORK — The wait for an expected deal between Greece and its creditors rattled financial markets around the world Monday. Yields for ultra-safe U.S. government debt hit their lowest this year, the euro dropped against the dollar, and European stocks took a fall.
But U.S. stocks dropped only slightly. The Dow Jones industrial average fell 6.74 points to close at 12,653.72, a drop of 0.1 percent. The Dow lost as much as 131 points in morning trading, then slowly recovered in the afternoon.
Borrowing costs for European countries with the heaviest debt burdens shot higher. The two-year interest rate for Portugal’s government debt jumped to 21 percent after trading around 14 percent last week.
Greece and the investors who bought its government bonds were said to be close to an agreement over the weekend. A tentative deal would replace bonds held by investment funds and banks with new ones at half the face value.
The plan is aimed at cutting Greece’s debt by roughly $132 billion. Greece needs it to secure a crucial installment of bailout loans and make an upcoming bond payment. But a deal has been in the works for weeks and could still fall apart.
The focus on Greece has shifted attention away from what’s going well in the U.S., said Jack Ablin, chief investment officer at Harris Private Bank. Companies have reported stronger quarterly earnings, and hiring has picked up.
“Our collective breath has been held for so many months,” he said.
At this point, a good or even a bad resolution of Greece’s debt crisis could lead to a stronger U.S. stock market, Ablin said. “If it finally happens and the world doesn’t fall apart, maybe we’ll have a reason to take risk again,” he said. “Once you pull off the Band-Aid, it feels better.”
U.S. Treasury yields sank to their lowest level this year.
In other trading, the Standard & Poor’s 500 index fell 3.32 points, or 0.3 percent, to 1,313.01. The Nasdaq composite lost 4.6 points, or 0.2 percent, to 2,811.94.
The euro dropped 0.5 percent against the dollar to $1.3124 in late trading Monday from $1.3208 late Friday. It was worth almost $1.50 in May.
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2012年1月31日星期二
2012年1月19日星期四
Toronto stock market advances amid rising oil prices, IMF announcement
TORONTO – The Toronto stock market was higher Wednesday morning on rising resource and financial sector stocks that benefited from word the International Monetary Fund is looking to bolster its financial firepower to help deal with a global economic crisis.
The S&P/TSX composite index gained 99.58 points to 12,332.41 while the TSX Venture Exchange climbed 5.69 points to 1,543.41. The Canadian dollar edged up 0.21 of a cent to 98.71 cents US.
The IMF said it aims to add US$500 billion to its resources so it can give out new loans to help mitigate a worsening financial crisis. The Washington-based institution said its staff estimates that countries around the world will need about $1 trillion in loans over the coming years. Most of the concerns centre on the 17-nation eurozone, which has been embroiled in a debt crisis for around two years.
Thanks to some $200 billion that European countries have recently promised to the IMF, it is already more than one third on its way to reaching its fundraising goal.
U.S. markets were higher after investment bank Goldman Sachs delivered quarterly earnings that beat expectations.
It said net income fell 58 per cent to US$1 billion or $1.84 a share because of lower investment banking fees in a quarter marked by choppy financial markets. But that easily beat expectations of $1.28 a share.
Goldman’s quarterly revenue fell 30 per cent to $6 billion and its shares were ahead $5.09 or 5.21 per cent to US$102.77.
The Dow Jones industrial index was ahead 56.69 points to 12,538.76. The Nasdaq composite index gained 22.57 points to 2,750.65 while the S&P 500 index climbed 7.29 points to 1,300.96.
Sentiment was also helped along by data out Wednesday showing that U.S. factory output surged in December by 0.9 per cent, the most in year. Stronger demand for business equipment, vehicles and energy offered the most visible evidence that manufacturing has roared back from the depths of the recession.
On the TSX, the financial sector rose 0.66 per cent while Royal Bank (TSX:RY) advanced 58 cents to $52.40 while Bank of Nova Scotia (TSX:BNS) gained 71 cents to $52.52.
Major dealmaking helped send the TSX industrials sector up 1.9. per cent. Shares in Finning International Inc. (TSX:FTT) climbed $1.35 or 5.53 per cent to $25.75 after it said it will acquire the Caterpillar distribution and support business formerly operated by Bucyrus in South America, the U.K., and Western Canada. The deal is worth US$465 million. Vancouver-based Finning is the world’s biggest Caterpillar dealer.
Canadian National Railways (TSX:CNR) advanced 97 cents to $78.89.
The energy sector ran up 1.13 per cent as the February crude contract on the New York Mercantile Exchange improved on Tuesday’s $2 jump, rising 53 cents to US$101.24. Traders had been encouraged by data showing that China, the world’s second largest economy, reported 8.9 per cent growth in the fourth quarter, slower than the previous quarter but strong enough to indicate it would avoid an abrupt slowdown.
And in the U.S., government data showed manufacturing in New York expanded at the fastest pace in nine months.
Analysts said higher oil was also supported by tension between Iran and Saudi Arabia, as well as a move by France to accelerate the EU’s implementation of an embargo on Iranian oil exports.
Saudi Oil Minister Ali al-Naimi has said Saudi Arabia was ready to pump more oil if needed to make up for a shortfall in Iranian exports. That came as Iran warned Gulf nations not to make up any shortfall and that it may shut the Strait of Hormuz, which is used to transport about a fifth of the world’s oil.
Suncor Energy (TSX:SU) gained 69 cents to $33.91 and Cenovus Energy (TSX:CVE) climbed 83 cents to $35.89.
The base metals sector gained 1.18 per cent as other commodity prices were weak with March copper ahead two cents at US$3.75 a pound after the Chinese economic report in particular sent the metal jumping nine cents Tuesday. China is the world’s biggest copper consumer. Teck Resources (TSX:TCK.B) was up 94 cents to $40.79 while HudBay Minerals (TSX:HBM) was ahead 26 cents to $10.96.
The gold sector was 0.34 per cent higher even as February gold on the Nymex dropped $3.10 to US$1,652.50 an ounce. Goldcorp Inc. (TSX:G) climbed 32 cents to $45.99.
The consumer discretionary sector provided lift with auto parts giant Magna International (TSX:MG) ahead 95 cents to $40.95.
Investors also digested analysis from The World Bank which warned Wednesday of a possible slump in global economic growth. It also urged developing countries to prepare for shocks that could be more severe than the 2008 crisis.
The bank cut its growth forecast for developing countries this year to 5.4 per cent from 6.2 per cent and for developed countries to 1.4 per cent from 2.7 per cent. For the 17 countries that use the euro currency, it forecast a contraction, with a growth outlook to be negative 0.3 per cent from growth of 1.8 per cent.
European markets were mainly higher as London’s FTSE 100 index inched up 0.07 per cent, Frankfurt’s DAX was up 0.37 per cent while the Paris CAC 40 lost 0.23 per cent.
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The S&P/TSX composite index gained 99.58 points to 12,332.41 while the TSX Venture Exchange climbed 5.69 points to 1,543.41. The Canadian dollar edged up 0.21 of a cent to 98.71 cents US.
The IMF said it aims to add US$500 billion to its resources so it can give out new loans to help mitigate a worsening financial crisis. The Washington-based institution said its staff estimates that countries around the world will need about $1 trillion in loans over the coming years. Most of the concerns centre on the 17-nation eurozone, which has been embroiled in a debt crisis for around two years.
Thanks to some $200 billion that European countries have recently promised to the IMF, it is already more than one third on its way to reaching its fundraising goal.
U.S. markets were higher after investment bank Goldman Sachs delivered quarterly earnings that beat expectations.
It said net income fell 58 per cent to US$1 billion or $1.84 a share because of lower investment banking fees in a quarter marked by choppy financial markets. But that easily beat expectations of $1.28 a share.
Goldman’s quarterly revenue fell 30 per cent to $6 billion and its shares were ahead $5.09 or 5.21 per cent to US$102.77.
The Dow Jones industrial index was ahead 56.69 points to 12,538.76. The Nasdaq composite index gained 22.57 points to 2,750.65 while the S&P 500 index climbed 7.29 points to 1,300.96.
Sentiment was also helped along by data out Wednesday showing that U.S. factory output surged in December by 0.9 per cent, the most in year. Stronger demand for business equipment, vehicles and energy offered the most visible evidence that manufacturing has roared back from the depths of the recession.
On the TSX, the financial sector rose 0.66 per cent while Royal Bank (TSX:RY) advanced 58 cents to $52.40 while Bank of Nova Scotia (TSX:BNS) gained 71 cents to $52.52.
Major dealmaking helped send the TSX industrials sector up 1.9. per cent. Shares in Finning International Inc. (TSX:FTT) climbed $1.35 or 5.53 per cent to $25.75 after it said it will acquire the Caterpillar distribution and support business formerly operated by Bucyrus in South America, the U.K., and Western Canada. The deal is worth US$465 million. Vancouver-based Finning is the world’s biggest Caterpillar dealer.
Canadian National Railways (TSX:CNR) advanced 97 cents to $78.89.
The energy sector ran up 1.13 per cent as the February crude contract on the New York Mercantile Exchange improved on Tuesday’s $2 jump, rising 53 cents to US$101.24. Traders had been encouraged by data showing that China, the world’s second largest economy, reported 8.9 per cent growth in the fourth quarter, slower than the previous quarter but strong enough to indicate it would avoid an abrupt slowdown.
And in the U.S., government data showed manufacturing in New York expanded at the fastest pace in nine months.
Analysts said higher oil was also supported by tension between Iran and Saudi Arabia, as well as a move by France to accelerate the EU’s implementation of an embargo on Iranian oil exports.
Saudi Oil Minister Ali al-Naimi has said Saudi Arabia was ready to pump more oil if needed to make up for a shortfall in Iranian exports. That came as Iran warned Gulf nations not to make up any shortfall and that it may shut the Strait of Hormuz, which is used to transport about a fifth of the world’s oil.
Suncor Energy (TSX:SU) gained 69 cents to $33.91 and Cenovus Energy (TSX:CVE) climbed 83 cents to $35.89.
The base metals sector gained 1.18 per cent as other commodity prices were weak with March copper ahead two cents at US$3.75 a pound after the Chinese economic report in particular sent the metal jumping nine cents Tuesday. China is the world’s biggest copper consumer. Teck Resources (TSX:TCK.B) was up 94 cents to $40.79 while HudBay Minerals (TSX:HBM) was ahead 26 cents to $10.96.
The gold sector was 0.34 per cent higher even as February gold on the Nymex dropped $3.10 to US$1,652.50 an ounce. Goldcorp Inc. (TSX:G) climbed 32 cents to $45.99.
The consumer discretionary sector provided lift with auto parts giant Magna International (TSX:MG) ahead 95 cents to $40.95.
Investors also digested analysis from The World Bank which warned Wednesday of a possible slump in global economic growth. It also urged developing countries to prepare for shocks that could be more severe than the 2008 crisis.
The bank cut its growth forecast for developing countries this year to 5.4 per cent from 6.2 per cent and for developed countries to 1.4 per cent from 2.7 per cent. For the 17 countries that use the euro currency, it forecast a contraction, with a growth outlook to be negative 0.3 per cent from growth of 1.8 per cent.
European markets were mainly higher as London’s FTSE 100 index inched up 0.07 per cent, Frankfurt’s DAX was up 0.37 per cent while the Paris CAC 40 lost 0.23 per cent.
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2012年1月4日星期三
Keating Capital Announces Conference Call to Discuss Investment Strategy
GREENWOOD VILLAGE, Colo.–(BUSINESS WIRE)– Keating Capital, Inc. (Nasdaq: KIPO – News) (the “Company”) announced that it will host a conference call on two different dates to provide a perspective and review of Keating Capital’s investment policy, objectives and strategy and to assess the fund’s achievements. Stockholders, prospective stockholders, analysts and other interested parties must pre-register online at least 10 minutes prior to the start of the call as set forth below. Upon successful registration participants will receive information to access the call via telephone and Internet. The telephone numbers to access the calls are also listed below:
An archived audio recording of the call together with the slide presentation to be used will be available within approximately three hours of completion of the call at http://ir.keatingcapital.com/events.cfm. This archived audio recording and slide presentation will be available until the Company’s next quarterly conference call which has been tentatively scheduled for March 2012.
About Keating Capital, Inc.
Keating Capital (www.KeatingCapital.com) is a business development company that specializes in making pre-IPO investments in innovative, high growth private companies that are committed to and capable of becoming public. Keating Capital provides individual investors with the ability to participate in a unique fund that invests in a private company’s later stage, pre-IPO financing round — an opportunity that has historically been reserved for institutional investors. Keating Capital shares are traded on Nasdaq under the ticker symbol KIPO.
To be added to Keating Capital’s email distribution list to receive quarterly newsletters and other announcements, go to www.KeatingCapital.com/contact.
Forward-Looking Statements
This press release may contain statements of a forward-looking nature relating to future events. These forward-looking statements are subject to the inherent uncertainties in predicting future results and conditions. These statements reflect Keating Capital’s current beliefs, and a number of important factors could cause actual results to differ materially from those expressed in this press release, including the factors set forth in “Risk Factors” set forth in Keating Capital’s Form 10-K and Form 10-Q filed with the Securities and Exchange Commission (“SEC”), and subsequent filings with the SEC. Please refer to Keating Capital’s SEC filings for a more detailed discussion of the risks and uncertainties associated with its business, including but not limited to the risks and uncertainties associated with investing in micro- and small-cap companies. Except as required by the federal securities laws, Keating Capital undertakes no obligation to revise or update any forward-looking statements, whether as a result of new information, future events or otherwise. The reference to Keating Capital’s website has been provided as a convenience, and the information contained on such website is not incorporated by reference into this press release.
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An archived audio recording of the call together with the slide presentation to be used will be available within approximately three hours of completion of the call at http://ir.keatingcapital.com/events.cfm. This archived audio recording and slide presentation will be available until the Company’s next quarterly conference call which has been tentatively scheduled for March 2012.
About Keating Capital, Inc.
Keating Capital (www.KeatingCapital.com) is a business development company that specializes in making pre-IPO investments in innovative, high growth private companies that are committed to and capable of becoming public. Keating Capital provides individual investors with the ability to participate in a unique fund that invests in a private company’s later stage, pre-IPO financing round — an opportunity that has historically been reserved for institutional investors. Keating Capital shares are traded on Nasdaq under the ticker symbol KIPO.
To be added to Keating Capital’s email distribution list to receive quarterly newsletters and other announcements, go to www.KeatingCapital.com/contact.
Forward-Looking Statements
This press release may contain statements of a forward-looking nature relating to future events. These forward-looking statements are subject to the inherent uncertainties in predicting future results and conditions. These statements reflect Keating Capital’s current beliefs, and a number of important factors could cause actual results to differ materially from those expressed in this press release, including the factors set forth in “Risk Factors” set forth in Keating Capital’s Form 10-K and Form 10-Q filed with the Securities and Exchange Commission (“SEC”), and subsequent filings with the SEC. Please refer to Keating Capital’s SEC filings for a more detailed discussion of the risks and uncertainties associated with its business, including but not limited to the risks and uncertainties associated with investing in micro- and small-cap companies. Except as required by the federal securities laws, Keating Capital undertakes no obligation to revise or update any forward-looking statements, whether as a result of new information, future events or otherwise. The reference to Keating Capital’s website has been provided as a convenience, and the information contained on such website is not incorporated by reference into this press release.
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2012年1月2日星期一
Tech ticker: Investor sues Affymetrix over financing of acquisition
Affymetrix
Investor sues over financing of acquisition
Affymetrix is being sued for fraud by investment firm Tang Capital Partners, which claims the Santa Clara maker of genomic analysis tools misrepresented the financing of an acquisition for which it depleted cash meant to repurchase $95 million in notes bought by Tang and other investors.
Tang Capital, which purchased $78 million of Affymetrix’s 3.5 percent senior notes from 2008 to 2011, alleged in a complaint filed Thursday in Santa Clara County Superior Court in San Jose that the repurchase money is being used as collateral to finance Affymetrix’s acquisition of eBioscience.
The $330 million cash deal was announced Nov. 30. The merger triggers a repurchase provision in the note contract that Affymetrix has refused to honor, Tang said in the complaint.
Affymetrix said in a regulatory filing Thursday that it believes the suit is “without merit.”
– Bloomberg News
Nasdaq
Judge OKs delisting of cleantech company
The Nasdaq Stock Market won a federal judge’s permission to delist a Chinese maker of wind towers that claims the procedures for kicking it out are marred by bias.
U.S. District Judge Richard Sullivan on Friday lifted the restraining order imposed against Nasdaq by New York State Supreme Court Justice
Melvin Schweitzer on Dec. 20. Sullivan also denied a request by CleanTech Innovations, based in Tieling, China, that he impose his own temporary restraining order.
“The court finds that the state court lacked jurisdiction to enter a temporary restraining order in a matter arising under” the federal securities law, Sullivan wrote in his order.
CleanTech has been fighting removal since January, when Nasdaq asserted that the company, which makes towers for wind turbines, intentionally withheld material information about $20 million in financing during its listing application. The company says it provided all necessary information in a timely manner.
– Bloomberg News
http://tourism9.com/
Investor sues over financing of acquisition
Affymetrix is being sued for fraud by investment firm Tang Capital Partners, which claims the Santa Clara maker of genomic analysis tools misrepresented the financing of an acquisition for which it depleted cash meant to repurchase $95 million in notes bought by Tang and other investors.
Tang Capital, which purchased $78 million of Affymetrix’s 3.5 percent senior notes from 2008 to 2011, alleged in a complaint filed Thursday in Santa Clara County Superior Court in San Jose that the repurchase money is being used as collateral to finance Affymetrix’s acquisition of eBioscience.
The $330 million cash deal was announced Nov. 30. The merger triggers a repurchase provision in the note contract that Affymetrix has refused to honor, Tang said in the complaint.
Affymetrix said in a regulatory filing Thursday that it believes the suit is “without merit.”
– Bloomberg News
Nasdaq
Judge OKs delisting of cleantech company
The Nasdaq Stock Market won a federal judge’s permission to delist a Chinese maker of wind towers that claims the procedures for kicking it out are marred by bias.
U.S. District Judge Richard Sullivan on Friday lifted the restraining order imposed against Nasdaq by New York State Supreme Court Justice
Melvin Schweitzer on Dec. 20. Sullivan also denied a request by CleanTech Innovations, based in Tieling, China, that he impose his own temporary restraining order.
“The court finds that the state court lacked jurisdiction to enter a temporary restraining order in a matter arising under” the federal securities law, Sullivan wrote in his order.
CleanTech has been fighting removal since January, when Nasdaq asserted that the company, which makes towers for wind turbines, intentionally withheld material information about $20 million in financing during its listing application. The company says it provided all necessary information in a timely manner.
– Bloomberg News
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News In Brief Tech ticker Biz buzz
Affymetrix
Investor sues over financing of acquisition
Affymetrix is being sued for fraud by investment firm Tang Capital Partners, which claims the Santa Clara maker of genomic analysis tools misrepresented the financing of an acquisition for which it depleted cash meant to repurchase $95 million in notes bought by Tang and other investors.
Tang Capital, which purchased $78 million of Affymetrix’s 3.5 percent senior notes from 2008 to 2011, alleged in a complaint filed Thursday in Santa Clara County Superior Court in San Jose that the repurchase money is being used as collateral to finance Affymetrix’s acquisition of eBioscience.
The $330 million cash deal was announced Nov. 30. The merger triggers a repurchase provision in the note contract that Affymetrix has refused to honor, Tang said in the complaint.
Affymetrix said in a regulatory filing Thursday that it believes the suit is “without merit.”
– Bloomberg News
Nasdaq
Judge OKs delisting of cleantech company
The Nasdaq Stock Market won a federal judge’s permission to delist a Chinese maker of wind towers that claims the procedures for kicking it out are marred by bias.
U.S. District Judge Richard Sullivan on Friday lifted the restraining order imposed against Nasdaq by New York State Supreme Court Justice
Melvin Schweitzer on Dec. 20. Sullivan also denied a request by CleanTech Innovations, based in Tieling, China, that he impose his own temporary restraining order.
“The court finds that the state court lacked jurisdiction to enter a temporary restraining order in a matter arising under” the federal securities law, Sullivan wrote in his order.
CleanTech has been fighting removal since January, when Nasdaq asserted that the company, which makes towers for wind turbines, intentionally withheld material information about $20 million in financing during its listing application. The company says it provided all necessary information in a timely manner.
– Bloomberg News
http://tourism9.com/
Investor sues over financing of acquisition
Affymetrix is being sued for fraud by investment firm Tang Capital Partners, which claims the Santa Clara maker of genomic analysis tools misrepresented the financing of an acquisition for which it depleted cash meant to repurchase $95 million in notes bought by Tang and other investors.
Tang Capital, which purchased $78 million of Affymetrix’s 3.5 percent senior notes from 2008 to 2011, alleged in a complaint filed Thursday in Santa Clara County Superior Court in San Jose that the repurchase money is being used as collateral to finance Affymetrix’s acquisition of eBioscience.
The $330 million cash deal was announced Nov. 30. The merger triggers a repurchase provision in the note contract that Affymetrix has refused to honor, Tang said in the complaint.
Affymetrix said in a regulatory filing Thursday that it believes the suit is “without merit.”
– Bloomberg News
Nasdaq
Judge OKs delisting of cleantech company
The Nasdaq Stock Market won a federal judge’s permission to delist a Chinese maker of wind towers that claims the procedures for kicking it out are marred by bias.
U.S. District Judge Richard Sullivan on Friday lifted the restraining order imposed against Nasdaq by New York State Supreme Court Justice
Melvin Schweitzer on Dec. 20. Sullivan also denied a request by CleanTech Innovations, based in Tieling, China, that he impose his own temporary restraining order.
“The court finds that the state court lacked jurisdiction to enter a temporary restraining order in a matter arising under” the federal securities law, Sullivan wrote in his order.
CleanTech has been fighting removal since January, when Nasdaq asserted that the company, which makes towers for wind turbines, intentionally withheld material information about $20 million in financing during its listing application. The company says it provided all necessary information in a timely manner.
– Bloomberg News
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