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Mar 19, 2010

RTTNews: Evening Market Wrap, March 19th, 2010

Evening Market Wrap Fri Mar 19 17:01 2010 

Commentary

Mar 19, 2010 Stocks Post Moderate Losses Amid Slew Of Market Concerns - U.S. Commentary Stocks closed lower by moderate margins on a quadruple witching Friday, as some profit taking along with overseas inflation and credit concerns prompted a pullback. The major averages all closed in negative territory, moving off of the more than one-year highs reached this week. Full Article

Corporate News

Mar 19, 2010 Rio Tinto To Form Simandou Iron Ore Project JV With ChinalcoAnglo-Australian Mining giant Rio Tinto plc (RTP, RIO.AX, RIO.L, RTPPF.PK) said that it has agreed to form a joint venture with Aluminum Corp. of China, also known as Chinalco, for developing the Simandou iron ore project in the West African nation of Guinea. As per the memorandum of understanding signed by the companies, Rio Tinto's 95% interest in the Simandou project will be held in a new joint venture, and Chinalco will acquire a 47% stake in the new joint venture for US$1.35 billion. Full Article
Mar 19, 2010 Carl Icahn Bids For Entire Lions Gate StakeFriday, billionaire investor Carl Icahn extended his previous offer, launching a hostile bid to acquire all shares of the filmed entertainment studio Lions Gate Entertainment Corp. (LGF) for the previous offer price of $6.00 per share in cash. Icahn also extended the expiration date of the offer to April 30. Full Article
Mar 19, 2010 Boeing To Ramp Up Production Of 777, 747 ModelsAerospace and defense giant Boeing Co. (BA) said Friday that it will boost production rates for its two major commercial jet programs, the 777 and 747, citing increasing customer demand in the recovering airplane market. The Chicago, Illinois-based company said that the 777 program's accelerated rate increase to seven airplanes per month from five per month will begin in mid-2011 instead of early 2012, six months earlier than previously planned. Full Article
Mar 19, 2010 Lloyds Banking Sees Profitable FY10; Shares Up On LSEUK-based Lloyds Banking Group Plc (LYG, LLOY.L), Friday, in an update on trading for the first 10 weeks of 2010, said its trading performance for the period has been strong against each area of its recent guidance and the banking net interest margin is trending in line with its recent forecast. Lloyds believes that the full year 2010 will be profitable on a combined businesses basis. Full Article

Political News

Mar 19, 2010 Pentagon May Extend Deadline On Bids For New Aerial Refueling TankerThe Defense Department indicated Friday that it may extend a deadline for bids on a new aerial refueling tanker after European Aeronautic Defense and Space Co., the parent company of Airbus, asked for additional time to submit a proposal, drawing the ire of Senator Patty Murray, D-Wash. Full Article
Mar 19, 2010 Sessions And Kyl Ask Holder Why He Did Not Disclose Supreme Court BriefsSenator Jeff Sessions, R-Ala, and Senate Republican Whip Jon Kyl, R-Ariz., have sent a letter to Attorney General Eric Holder, asking him to explain why he did not disclose to the Judiciary Committee roughly two-thirds of his work as an amicus party before the Supreme Court - disclosures required as part of his confirmation. Full Article
Mar 19, 2010 Hatch Calls On Democrats To Vote Against Health Care ReformSenator Orrin Hatch, R-Utah, issued a statement Friday, calling on Democrats to vote against the health care reform bill in the House. "The President says Democrats have to get this done, because his presidency's on the line," Hatch said. "But this isn't about him. This is about the future of our country - of standing up for the people, their children and grandchildren that we represent." Full Article
Mar 19, 2010 Boccieri And Wilson Say They Will Vote "Yes" On Health Care ReformRepresentatives John Boccieri, D-Ohio, and Charlie Wilson, D-Ohio, both announced Friday that they will vote for the health care reform bill. "Today I hope and I pray that we can get this job done," Boccieri said during a news conference. "Yes, I will be voting yes on this bill." Full Article
Mar 19, 2010 Rep. Gordon Says He Will Vote "Yes" On Health Care ReformHealth care reform took one step closer to being passed Thursday, when Representative Bart Gordon, D-Tenn., revealed that he will be voting "yes" on the bill. After voting "no" on the first version of health care reform in the House, Gordon said that the current bill "accomplishes three things." Full Article
Mar 19, 2010 Obama Backs Immigration Reform Policy From Senators Schumer And GrahamPresident Barack Obama announced Thursday that he supports a proposal from Senators Charles Schumer, D-N.Y., and Lindsey Graham, R-S.C., to help revamp U.S. immigration policy. The proposal from Schumer and Graham would establish new identification cards for U.S. citizens and legal immigrants who want a job. Full Article
Mar 19, 2010 Aurizon Mines Posts Profit In Q4; Sees Lower Production In FY10Canadian gold producer Aurizon Mines Ltd. (ARZ.TO, AZK) reported Friday a profit in its fourth quarter, compared to loss in the same period last year, on one-time gain and lower charges. Adjusted earnings climbed from the prior year, on higher revenues. Further, the company, with projects in the Abitibi region of north-western Quebec, issued fiscal 2010 gold production forecast lower than prior year. Full Article
Mar 19, 2010 AARP, AMA Call For Passage Of Health Care Reform BillAs Democrats enter the final stretch of efforts to enact a health reform bill, the measure picked up two crucial endorsements Friday, with the American Association of Retired Persons and the American Medical Association both offering their support. The AARP endorsement was a welcome but perhaps not surprising development in advance of a crucial House vote Sunday. Full Article
Mar 19, 2010 Obama Holds Rally In Support Of Health Care ReformWith the House poised to take a crucial vote on health reform legislation over the weekend, President Barack Obama Friday held a campaign-style rally hoping to show wavering lawmakers the popularity of the proposal. Obama, speaking to an estimated 8,500 people at George Mason University in northern Virginia, said that the long debate about health care reform was about more than just the cost of health care or reforming insurance practices. Full Article

US Policy

Mar 19, 2010 Middle East Peace Quartet Urges Israel To Freeze All Settlement Activities The Middle East Peace Quartet, the international sponsors of the Middle East peace negotiations, has called on Israel to 'freeze' all its settlement activities in occupied West Bank land in east Jerusalem. The group, made up of the United Nations, United States, European Union and Russia, also reiterated their condemnation of Israel's latest move to add Jewish housing in disputed East Jerusalem. Full Article

From The Desk of Nick Nicolaas: March 19th, 2010


Dear Friends:
Adam Hamilton has posted his weekly Zeal Intelligence Newsletter on the Mining Interactive Website. Click here:
Have a great weekend and - - - Stay Tuned!!

Regards,
Nick L. Nicolaas
Mining Interactive “Ahead of the Pack”
Nick L. Nicolaas
President & CEO
Mining Interactive Corp.
www.mininginteractive.com
Direct 24/7: +1 (604) 657-4058
Main Office: +1 (604) 569-0800
Fax: +1 (604) 569-0758
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MarketWatch: Weekly Roundup, March 19th, 2010

MarketWatch
Weekly Roundup
MARCH 19, 2010

MarketWatch's top 10 stories, March 15 - 19

By MarketWatch



U.S. stocks fell on Friday after rising in the previous eight sessions. A surprise rate hike from India's central bank rattled markets that had started the day higher. Gold and crude fell as the dollar rose after concerns over Greek debt issues reignited.

Here are MarketWatch's top 10 stories of this week. Also, please have a look at our videos previewing markets next week in the U.S., Europe and Asia.

-- Greg Morcroft, assistant managing editor

 Asia's Week Ahead: Inflation in Japan

 Europe's Week Ahead: U.K. budget

 U.S. Week Ahead: Health care and housing

Fed stands pat on rates, wording

The Federal Reserve kept its benchmark interest rate at a record low level Tuesday and made no changes to the key "extended period" pledge, a signal that it believes the economy still needs support to get to a sustainable path. See MarketWatch story on interest-rate policy.

Fed loses legal appeal; must disclose bailout details

The Federal Reserve will be required to identify the names of banks that could have collapsed if not for the central bank's emergency lending, a federal appeals court said Friday. The U.S. Court of Appeals for the Second Circuit in New York ruled that the Fed needs to disclose documents in response to Freedom of Information Act requests by Bloomberg LP and other news organizations. Read MarketWatch story on court ruling.

Palm shares lose their Pre-mium

Shares of Palm Inc. (PALM) plunged to their lowest level in more than a year as more Wall Street analysts threw in the towel on the wireless-device maker, which reported disappointing sales of its latest smartphones and issued a dismal revenue forecast for the current quarter. The news pulled the stock below the $5 mark for the first time since Palm first lifted the wraps on its Pre smartphone and brand-new mobile operating system at a trade show in early 2009. Read MarketWatch story bout Palm's woes.

Obama pushes health-care bill ahead of key vote

President Barack Obama made a final push for overhaul legislation as the House headed toward a climactic weekend vote on his top domestic priority. Obama cast the debate as a war over whether the U.S. health-care system works better for the insurance companies or for consumers, and said that the bill is a "patient's bill of rights on steroids." Read MarketWatch story on historic vote this weekend.

German official suggests using spies against speculators

Germany has ratcheted up the debate on the role of speculation in the markets, with a top official suggesting the country may order intelligence agencies to spy on speculators to shield the euro. See MarketWatch story on German official's comments.

Merrill staffers reportedly warned SEC over Lehman

Former Merrill Lynch executives warned the Securities and Exchange Commission and Federal Reserve that Lehman Brothers was incorrectly calculating its liquidity position months before its collapse, according to a published media report. See MarketWatch story on Merrill officials' claims.

FedEx profit up on international overnight delivery boost

FedEx Corp. (FDX) said its profit more than doubled on a sharp increase in its overnight-delivery profits as it hiked its annual earnings outlook. FedEx lifted its 2010 earnings forecast to $3.60 to $3.80 a share, from its earlier view of $3.45 to $3.75 a share. Read MarketWatch story on FedEx's bullish tone.

Complications abound for Dodd's bank-reform bill

Members of the Senate Banking Committee appeared close to a bipartisan deal on bank-reform legislation earlier this month, but the panel is now likely to vote out a package next week strictly along party lines -- complicating its chances for passage in the full Senate this spring. Read MarketWatch story on bank bill bickering.

Core CPI up 1.3% in past year, smallest gain in 6 years

U.S. consumer prices were unchanged on a seasonally adjusted basis in February, as falling energy prices offset increases in prices of cars, medical care and food, the Labor Department reported Thursday. Read MarketWatch story on CPI.

Nike jumps to record high as results promise strong demand

Shares of Nike Inc. (NKE) jumped to an all-time high this week after the No. 1 athletic-shoe company reported unexpectedly strong profits and product orders for its fiscal third quarter, driven by improved demand in Western Europe and China. Read MarketWatch story about Nike outlook.

CNBC: Latest Stories, March 19th, 2010

LATEST STORIES


»click here to see the latest top stories from CNBC.com

Financial Times: From World



From WORLD 7:22p,m

Obama closes in on healthcare reform

President Barack Obama speaks about healthcare reform Agence,France-Presse

Congress prepares for final vote on Sunday

From WORLD 7:18pm

Brussels urges EU to reach Greek deal

Commission prefers solution led by Europe rather than IMF

Tiger Woods From COMPANIES 7:12pm

Tiger Woods's return provokes controversy

Media circus set to land at prestigious Augusta club

From GLOBAL ECONOMY 3:42pm

Doctors use stem cells to rebuild boy’s windpipe

Procedure could revolutionise transplant surgery

From COMMENT 7:51pm

Britain: A heap of difference

Hidden joblessness and strikes dog Labour, writes Brian Groom

Equities from MARKETS 6:47pm

Analysts scramble to decipher calmer Vix

Fear gauge has limited predictive powers

Real clear Politics, March 19th, 2010

Real Clear Politics Friday

A Reckless Disregard for Public Opinion - Matt Patterson, Baltimore Sun
The Last Lap: Passing the Health Bill - Susan Estrich, Creators
Legislative Swindling - David Harsanyi, Denver Post
Obama Shows Determination - Ronald Brownstein, National Journal
Americans Souring; Now, Why Could That Be? - Andrew Malcolm, LAT
No New Promises, Please - Keith Hennessey, KeithHennessey.com
Notes on CBO Skepticism - Ezra Klein, Washington Post
The Lackluster Record of Gov't Health Care - Rep. Darrell Issa, Examiner
Stop Me Before I Steal Again - John Stossel, FOX Business
Score One for Skepticism - Ruth Marcus, Washington Post
Politics Nation: Obama And The Politics Of Health Care Reform
RCP Blog: Obama To Speak w/Dems On Sat. | KY Sen: Paul Takes Lead

RCP Morning Edition

Taking a Stand on Health Reform - Eugene Robinson, Washington Post
Corrupt Politics Fuels Hostile HC Takeover - Charles Hurt, New York Post
Why We Reform - Paul Krugman, New York Times
Now for the Slaughter - Peggy Noonan, Wall Street Journal
Why Democrats Need 'Deem and Pass' - Todd Purdum, Vanity Fair
Dems Use Tactics They Once Reviled - Steve Huntley, Chicago Sun-Times
CBO's Sunny Forecast Carries Big Uncertainties - Neil Irwin, Wash Post
Medicare is Still Going Broke - Veronique de Rugy, The American
Drowning in Debts and Deficits - Dan Dorfman, Huffington Post
Job Growth is Job One - Rep. Joe Sestak, Pittsburgh Post-Gazette
The Biden Incident - Charles Krauthammer, Washington Post
How Barack Beat Bibi - Peter Beinart, The Daily Beast
Why is Obama So Upset With Israel? - Marty Peretz, The New Republic
Dodd's Financial Reform Misses the Point - Clive Crook, National Journal
A Textbook Case of Hysteria - Christine Flowers, Philadelphia Daily News
The Trials and Tribulations of Eric Holder - Massimo Calabresi, Time
Eric Holder's Massive Ineptness - Michael Gerson, Washington Post
Politics Nation: The Week In 2010 Midterms: Romney's In The Mix
RCP Blog: 2012 Poll: Romney Leads | Health Care's State Of Play

Editorials

On the Verge of Reform - New York Times
Dems' ObamaCare Push Makes US Look Like Banana Republic - WSJ
Health Reform a Risk Worth Taking - Washington Post
Democrats Risk Undermining Process With Health Bill - Detroit News

Reuters:DAI: Wall St ends down on renewed Greece fears, March 19th, 2010




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Good evening Fernando, FRI 19 Mar 2010 
Wall St ends down on renewed Greece fears
Icahn offers to buy Lions Gate as MGM bid looms
Banks' fourth quarter trading revenue falls 66 percent
Boeing speeds production boosts on market outlook
Senate to remove "backdoor bailouts" from bill
Wal-Mart seen increasing grocery promotions
JPMorgan CEO Dimon's 2009 salary $1.32 million
House GOP calls for Fannie, Freddie phase out
Court orders Fed to release bailout documents
EU seeks firm Greek aid plan


Wall St ends down on renewed Greece fears
March 19, 2010 04:11 PM ET
NEW YORK (Reuters) - Stocks ended down on Friday, with the Dow snapping its eight-session winning streak, as renewed worries about Greece sparked a climb in the dollar and weighed on commodity prices.

Full Article
Icahn offers to buy Lions Gate as MGM bid looms
March 19, 2010 04:23 PM ET
LOS ANGELES/NEW YORK (Reuters) - Billionaire investor Carl Icahn offered on Friday to buy Lions Gate Entertainment Corp , in a move designed to forestall the studio's expected bid for storied rival Metro-Goldwyn-Mayer Inc .

Full Article
Banks' fourth quarter trading revenue falls 66 percent
March 19, 2010 01:58 PM ET
NEW YORK (Reuters) - Trading revenue at U.S. commercial banks fell 66 percent in the fourth quarter, the Office of the Comptroller of the Currency said on Friday, as uncertainty over pending derivatives legislation added to a seasonal slowdown in trading.

Full Article
Boeing speeds production boosts on market outlook
March 19, 2010 02:11 PM ET
CHICAGO (Reuters) - Boeing Co said on Friday it will accelerate planned increases in production of two of its popular wide-body planes to accommodate heightened demand from airlines that had curbed orders in the last two years because of the economic crisis.

Full Article
Senate to remove "backdoor bailouts" from bill
March 19, 2010 12:20 PM ET
ORLANDO, Florida (Reuters) - The U.S. Senate Banking Committee will remove a provision from the financial reform bill that bank regulator Sheila Bair said could allow for "backdoor bailouts," a panel spokeswoman said on Friday.

Full Article
Wal-Mart seen increasing grocery promotions
March 19, 2010 01:13 PM ET
SAN FRANCISCO (Reuters) - Wal-Mart Stores Inc will "dramatically" increase its promotions over the next six weeks, a Morgan Stanley analyst said on Friday, calling it a major setback for U.S. grocers.

Full Article
JPMorgan CEO Dimon's 2009 salary $1.32 million
March 19, 2010 04:06 PM ET
NEW YORK (Reuters) - JPMorgan Chase & Co , the second-largest U.S. bank, paid Chief Executive Jamie Dimon $1.32 million in salary and extra compensation in 2009, according to the company's proxy filing.

Full Article
House GOP calls for Fannie, Freddie phase out
March 19, 2010 03:16 PM ET
WASHINGTON (Reuters) - Republicans in the House of Representatives on Friday recommended the country's two mortgage finance giants be phased out in four years in an effort to restore stability to the housing market.

Full Article
Court orders Fed to release bailout documents
March 19, 2010 04:14 PM ET
NEW YORK (Reuters) - In a significant victory for news media, a federal appeals court said the Federal Reserve must disclose records on emergency lending programs to banks bailed out by the government in the financial crisis.

Full Article
EU seeks firm Greek aid plan
March 19, 2010 04:26 PM ET
BRUSSELS/ATHENS (Reuters) - The European Union's monetary affairs chief urged the bloc's leaders on Friday to agree a standby aid package for Greece next week but France and Germany struck different notes and the euro slid.

Full Article
REUTERSwww.reuters.com