| Two investment banks buy minority stakes in KC’s BATS Trading
Investment bankers Deutsche Bank AG and J.P. Morgan Chase & Co. each bought undisclosed minority stakes in Kansas City's BATS Trading, the nation's third-largest equity securities trading center. The investors and BATS declined to give details of the transactions. However, none of the now 10 investment and brokerage firms among BATS' owners holds a significantly larger share than the others, said Randy Williams, a BATS vice president. The transactions represent the largest investments by Deutsche Bank and Morgan in electronic alternatives to traditional brick-and-mortar trading exchange since the two firms joined other investors in the April 2006 launch of the ISE Stock Exchange. BATS, an acronym for Better Alternative Trading System, is an electronic marketplace opened two years ago in the Briarcliff Village shopping center in the Northland to provide the brokerage community with lower-cost transactions than traditional stock markets offered.
US GDP disapointing − waiting on the move from the FED
With a strong ADP Employment report from the US and weak GDP figures we are waiting on the FED to direct markets. MAJOR HEADLINES - PREVIOUS SESSION The S&P 500 added 8.33, or 0.6 percent, to 1,362.3. The benchmark is still down 7.6 percent in 2008 on concern the U.S. economy will contract. The Dow Jones Industrial Average rose 96.41, or 0.8 percent, to 12,480.3. The Nasdaq Composite Index added 8.15, or 0.4 percent, to 2,358.06.Europe's Dow Jones Stoxx 600 Index lost 0.7 percent. Ambac, the second-biggest U.S. bond insurer, added $1.80, or 16 percent, to $12.93 in New York Stock Exchange trading for the top gain in the S&P 500. MBIA, the largest, gained $1.13 to $15.98. JPMorgan, the third-biggest U.S. bank by assets, rose $1.88 to $47.45.
Alnylam reports positive data for midstage drug trial
Biopharmaceutical company Alnylam Pharmaceuticals Inc. said today that midstage study results of its experimental therapy ALN-RSV01 for the treatment of a respiratory disease showed it is safe, well-tolerated and worked against the virus. Shares of Cambridge-based Alnylam jumped $3.50, or 11.5 percent, to $34 in premarket trading; Alnylam shares trade on the Nasdaq Stock Market. In the study of ALN-RSV01 versus placebo, 88 adult subjects were experimentally infected with a clinical strain of RSV. Respiratory syncytial virus, or RSV, is the most common cause of bronchiolitis and pneumonia among infants and children under 1 year of age, according to the Centers for Disease Control and Prevention. The subjects received ALN-RSV01 or placebo in a nasal form for five consecutive days.
Apple gains in premarket; Piper Jaffray reiterates buy, $250 price ...
NEW YORK, Jan. 29, 2008 (Thomson Financial delivered by Newstex) -- Shares of Apple Inc. rose in premarket trading Tuesday, after Piper Jaffray (NYSE:PJC) said the company was in position to transform the portable music market into a portable computing market. The stock was up 1.2% at $131.51 ahead of the open. The stock closed Monday unchanged at $130.01, down 34% since the end of 2007, and matching the lowest closing price seen since Aug. 28. Piper Jaffray Analyst Gene Munster reiterated his buy rating and $250 price target on the stock. Munster acknowledged that market data 'clearly shows that growth in the standalone MP3 player market is slowing.' He said that for Apple to meet Wall Street expectations of 4% iPod unit sales growth in March, vs. 5% growth in December, he expects the company to introduce cheaper, innovative iPods with Wi-Fi and multi-touch technology.
Sensex rises 864 points after US Fed rate cut
Mumbai, Jan 23 Stock market benchmark Sensex ended a seven-day losing streak today, gaining 864 points after the US Federal Reserve cut interest rates in an emergency move to prevent the world's biggest economy from slipping into a recession.
The 3-share index rose 864.13 points to 17,594.07, led by index-heaviest Reliance Industries Ltd, which rose by Rs 196.80 to settle at Rs 2,554.85. The Sensex rose to a high of 17,997.11 and fell to a low of 16,951.03 points in volatile intra-day trading.
The wide-based National Stock Exchange index Nifty surged by 404.10 points at 5203.40, after touching the day's high of 5328.05 and a low of 4891.60 points.
The US central bank cut short-term benchmark rate by a steep 75 basis points yesterday, in a surprise move that is aimed at checking the nation's economy from slowing down and soothing the investor community.
|
