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Feb 25, 2011

MarketWatch: Weekly Roundup: Top 10 stories Feb. 21 - 25

MarketWatch

Weekly Roundup
FEBRUARY 25, 2011

MarketWatch Top 10 stories Feb. 21 - 25

By MarketWatch



NEW YORK (MarketWatch) — U.S. stocks closed the week lower despite a strong Friday recovery

The e Dow lost 2.1%, its worst weekly percentage drop since November and worst point drop since August. The S&P 500 fell 1.7% for the week. The Nasdaq Composite lost 1.9% for the week. Read MarketWatch's U.S.stock market coverage

Conversely, Treasury prices rose this week pushing long-term yields down, after a reduced reading of U.S. economic growth released Friday gave investors another reason to buy U.S. government bonds. Read MarketWatch Treasury market report

For the week, yields on 10-year notes, which move inversely to prices, have fallen by their greatest magnitude since May as a violent uprising in Libya, and a jump in oil prices, prompted investors to seek the relative safe haven of U.S. bonds.

Gold rose 1.5% on the week, and oil in the U.S. Gold rose 1.5% on the week. See Marketwatch gold report. See MarketWatch oil report

Also, please be sure to watch our Week Ahead Videos for Asia, Europe and the U.S. - Greg Morcroft, assistant managing editor

Europe Week ahead: Bayer, HSBC and Carrefour:

 Asia Week Ahead: India's Budget, RBA

U.S. week ahead: Jobs, Fed and payrolls

Outside The Box: How to trade the oil panic

The biggest mistake that many investors make is to try to play underlying commodity moves with commodity producers — they are not one and the same thing. In the situation with oil, there is plenty of crude on the market right now in the United States, but a potential closure of the Suez Canal and further escalation of the situation in Libya would likely cause supply disruptions. Read MarketWatch commentary on investing in oil during the mideast crisis

NBA's Blake Griffin and Subway: A slam dunk

Viewers of last weekend's National Basketball Association events saw Blake Griffin play in the Rookie Game and the All-Star game. The forward for the Los Angeles Clippers also won the Slam Dunk Contest, and appeared on his own in a television advertisement for the very first time.Riding along with his rising profile is Subway Restaurants, which rolled out its first Griffin-only commercial during the weekend — part of a wider media campaign featuring the athlete that totaled $3 million, according to reports. Read MarketWatch's SportsWatch column

Apple shareholders don't address Jobs's health

Apple Inc. (AAPL) faced shareholders Wednesday without the presence of its iconic CEO Steve Jobs, who remains on health leave from the company amid rumors that his long-running battle with cancer has resumed. At the meeting, no shareholders addressed the issue directly, beyond wishing Jobs well. But the question of what is in store for the company should he leave his post hung over the meeting, in part because of a shareholder-sponsored resolution that sought greater clarity of the company's planning for CEO succession. That measure failed, according to preliminary figures from Apple. Read MarketWatch coverage of Apple shareholders' meeting

Paul B. Farrell: Market Crash 2011: It will hit by Christmas

Politicians lie. Bankers lie. Yes, they're liars. But they're not bad, it's in their genes, inherited. Their brains are wired that way, warn scientists. Like addicts, they can't help themselves. They want to sell stuff, get rich. We want to believe they're telling us the truth. Silly, huh? Both trapped in this eternal "dance of death" controlled by programs hidden deep in our brains, telling us what to do, telling us to ignore facts to the contrary — till it's too late, till a new crisis crushes all of us. Psychology offers us a powerful lesson: Our collective brain is destined to trigger a crash before Christmas 2011. Why? We're gullible, keep searching for a truth-teller in a world of liars. And they're so clever, we let them manipulate us into acting against our best interests. Read Paul Farrell on MarketWatch

Vital Signs: Drug plans stick some patients with steep costs

Several years ago, Melanie Rowen got a diagnosis that plunged her into debt and thrust her into the heart of the debate over how the U.S. distributes and pays for health care. Rowen, 33, an attorney for a San Francisco nonprofit group, found out she had multiple sclerosis in 2007 and immediately started a drug regimen to try to prevent M.S. attacks that could rob her of long-term neurological function. But the price of her medication has been higher than she imagined. Since her diagnosis, she's paid at least $25,000, or between $650 and $880 a month, for drugs that promise to cut the number of disabling M.S. attacks she has to suffer. Read MarketWatch's Vital Signs column

The Cody Word Blog: Winners and losers in the tablet wars

Tablets, tablets, tablets. My goodness does everybody love to talk and read about tablets. And why not? A sector of tech that hardly existed in the marketplace a year ago is now projected to move tens of millions of units this year and probably a hundred million or more somewhere in the next few years. That's why investors love to talk tablets. And tablets are only about a tenth of the size of the smartphone market, which is growing just about as fast as tablets, from a much bigger base. Read Cody Willard comments on investing gin the tablet sector

Economic Report: U.S. cuts 4th-quarter growth view to 2.8%

The U.S. economy grew at 2.8% pace in the final three months of 2010 — slower than the government initially projected — based on new data showing that consumers and state and local governments spent less than first estimated. Last month, the Commerce Department said gross domestic product climbed at a 3.2% annual rate in the fourth quarter. The revised report takes into account data not initially available in the first reading. Economists surveyed by MarketWatch had expected revised GDP to remain at 3.2%. Read MarketWatch's economic coverage

Consumer Confidential: Are you better off because of the CARD Act?

It's been a year since the much-ballyhooed credit-card laws were put in place and you're hardly better or worse off because of it. Complaints that the new laws under the Credit Card Accountability Responsibility and Disclosure Act led to unreasonable spikes in interest rates and left segments of the population unable to get credit are largely unfounded, according to studies about the CARD act's impact. Instead, those effects are more likely just the result of tough economic times. Read Consumer Confidential column on MarketWatch

Mark Hulbert: The impact of CEO deaths

When it comes to investing in Apple, the 800-pound gorilla in the room is what would happen if and when Steve Jobs passes. While no one can know in advance how Apple's stock would react, chances are good that it will drop by less than many currently fear. And if Apple's stock price nevertheless does react by plunging, that may very well represent a good buying opportunity. Those at least are the conclusions I drew from reviewing academic research into the impact of CEO deaths at other companies. This isn't to say that the death of a CEO is a good thing. Far from it.
____________________________________________________________
 

MarketWatch: Personal Finance Daily: House GOP to unveil new funding bill

MarketWatch

Personal Finance Daily
FEBRUARY 25, 2011

Friday's Personal Finance Stories

By MarketWatch



Don't miss these top stories:

Often named as the greatest film ever made, "Citizen Kane" wasn't just denied Best Picture award at the 1941 Academy Awards ceremony, it barely merited a single Oscar. Out of nine nominations, the movie won only for its original screenplay. Such is the fate of many great films. Ahead of this weekend's Oscars telecast, David Wilkerson looks for the 10 best movies that lost the race for Best Picture. In addition to "Citizen Kane," read about "Vertigo," "Fargo" and "Pulp Fiction" — and why they didn't win but probably should have.

Also in today's Personal Finance coverage, read about how the IRS is easing the pressure on people who are having a hard time paying their taxes, and about the impact of the year-old Credit Card Accountability Responsibility and Disclosure act.

Anne Stanley , Managing Editor, Personal Finance

THE OSCAR GOES TO...

The 10 best movies that lost the top Oscar

These movies should have won the Best Picture Oscar but didn't. Will Sunday's Academy Awards snub another film classic?
Read more: The 10 best movies that lost the top Oscar.


Scenes from the 10 best movies that lost the Oscar

Take a look at scenes from these classic but Oscar-overlooked movies.
Read more: Scenes from the 10 best movies that lost the Oscar.


SPENDING & SAVING

Are you better off due to the CARD act?

It's been a year since the much-ballyhooed credit-card laws were put in place and you're hardly better or worse off because of it.
Read more: Are you better off due to the CARD act?


TAXES

Play online games, win a tax bill

Online games aren't the same as gambling, but any winnings could bring you a tax bill, writes Eva Rosenberg.
Read more: Play online games, win a tax bill.


IRS eases up on people who can't pay tax bill

In a rare show of leniency, the Internal Revenue Service on Thursday announced new rules designed to make it easier for people struggling with tax debts to climb out of the hole.
Read more: IRS eases up on people who can't pay tax bill


REAL ESTATE

Even free real estate has its costs

To get an unwanted piece of land off your hands, it's important to get creative and remember that it's human nature to be cautious about something that comes for free, Lew Sichelman writes.
Read more: Even free real estate has its costs.


Outperforming REITs could keep rolling

No sector in the U.S. market — not one — has done as well as real-estate investment trusts since the bull market began just about two years ago.
Read more: Outperforming REITs could keep rolling.


ECONOMY & POLITICS

House GOP to unveil new funding bill

House GOP leaders are preparing to unveil a spending bill later Friday that would keep the government running for an extra two weeks, but it's uncertain if Senate Democrats will go along as the clock ticks toward a possible shutdown March 5.
Read more: House GOP to unveil new funding bill.


U.S. cuts 4th-quarter growth view to 2.8%

The U.S. economy grew 2.8% in the fourth quarter of 2010, down from 3.2% as initially reported, based on new data showing that consumers and state and local governments spent less than originally estimated.
Read more: U.S. cuts 4th-quarter growth view to 2.8%.


In charts: Housing sales, house prices, GDP

The week's economic indicators show home prices in the dumps but not existing-home sales, while consumer-confidence gauges hit three-year peaks and business investment is recovering.
See charts: Housing sales, house prices, GDP.


Consumer sentiment hits three-year high

An index of consumer sentiment rises in February, reaching its highest level in three years, according to survey results released by Thomson Reuters and the University of Michigan.
Read more: Consumer sentiment hits three-year high.


INVESTING

New study warns against bank dividend hikes

A new study released Friday by a group of prominent economists warns regulators in the U.S. not to allow banks to raise dividends while the financial system is still healing. The study was also very critical of bank stress tests conducted in Europe and the U.S.
Read more: New study warns against bank dividend hikes.


Defense-sector stocks fuel your portfolio's tank

The biggest U.S. military contractors have been repositioning, acquiring smaller companies in high-growth areas to offset businesses that are cooling. That will help shareholders seeking steady profits, while giving traders the opportunity to bet on the next premium-paying merger, investors and analysts say.
Read more: Defense-sector stocks fuel your portfolio's tank.


Beware: The world's riskiest countries

India, Russia and Indonesia are growing fast, but also are among the riskiest nations according to a new study, writes Thomas M. Kostigen.
Read more: Beware: The world's riskiest countries.


Oil prices will slow — but not halt — growth

Loss of Libyan oil probably isn't enough to drag the global economy into recession, but no one knows how far the protests will spread.
Read more: Oil prices will slow — but not halt — growth.


Is Libya a buying opportunity?

Chaos in North Africa this week sparked a surge in oil prices—and prompted traders to pile out of stocks. Yet previous episodes of geopolitical uncertainty suggest investors might want to stay put.
Read more: Is Libya a buying opportunity?

_____________________________________________________________

Financial And Forex Info | Reuters - Daily Investor Update: Wall St closes higher as oil stabilizes.





News

LATEST NEWS
Wall St closes higher as oil stabilizes
NEW YORK (Reuters) - U.S. stocks rose on Friday, bouncing back from a three-day sell-off as oil prices stabilized, but unease over the Libyan rebellion could be enough to keep buying in check. | Full Article

Fed's Lacker says oil price risks "manageable"
February 25, 2011 03:26 PM ET
NEW YORK (Reuters) - Oil price gains to date do not pose a risk to the U.S. economy but they could prove nettlesome if they jump a lot higher or create an inflationary psychology, Richmond Federal Reserve Bank President Jeffrey Lacker said on Friday. | Full Article
Economic growth trimmed, consumers more upbeat
February 25, 2011 03:30 PM ET
WASHINGTON (Reuters) - U.S. consumer confidence hit a three-year high in February, suggesting the economy remained on a solid footing despite soaring gasoline prices. | Full Article
Boeing basks in glow of tanker win, but risks loom
February 25, 2011 03:21 PM ET
CHICAGO (Reuters) - Boeing Co, its suppliers and investors had good reason to cheer after the company snared a $30 billion Pentagon order this week, but challenges loom as Boeing prepares to fill the historic order on what may be a tight budget. | Full Article
Starbucks wins Kraft appeal over coffee deal
February 25, 2011 04:14 PM ET
NEW YORK (Reuters) - A significant legal obstacle was removed to Starbucks Corp ending its coffee distribution agreement on March 1 with Kraft Foods Inc by a U.S. appeals court ruling on Friday. | Full Article

NYT: Afternoon Business News: In Recession's Wake, Frugal Ways Make a Comeback



BUSINESS

In Recession's Wake, Frugal Ways Make a Comeback

By MATT RICHTEL
For many products - cars, phones, computers, even shampoo and toothpaste - the data shows a slowing of product life cycles and consumption.
Bits Blog

Google Tries to Reduce Rank of Low-Quality Sites

By CLAIRE CAIN MILLER
The algorithm change appears to be directed at so-called content farms that tailor articles to rise in search results.

China Telecom Giant Seeks U.S. Inquiry to Clear Name

By DAVID BARBOZA
The Chinese telecommunications group said that its American expansion has been undermined by false allegations that it had ties to Chinese authorities.
Wealth Matters

Tracking Down and Collecting Unclaimed Life Insurance

By PAUL SULLIVAN
Hundreds of millions of dollars in life insurance goes unclaimed each year simply because the beneficiaries do not know the money exists.
Shortcuts

Who's Best for Your Car, Dealer or Independent?

By ALINA TUGEND
Data shows that dealers often cost more, but they also have the sophisticated equipment needed to do many complex repairs.

MarketWatch: U.S. stocks cap tough week with widespread gain.


By Laura Mandaro
SAN FRANCISCO (MarketWatch) -- U.S. stocks closed broadly higher on Friday but turned in one of their worst weeks in months, as the prospects for oil supply disruptions in the Middle East and North Africa chipped at confidence in the global economic recovery. The Dow Jones Industrial Average /quotes/comstock/10w!i:dji/delayed (DJIA 12,130, +61.95, +0.51%) ended up 61.95 points, or 0.5%, at 12,130.45, led by more than 2% gains in Intel Corp. /quotes/comstock/15*!intc/quotes/nls/intc (INTC 21.85, -0.01, -0.05%) and Boeing Co. /quotes/comstock/13*!ba/quotes/nls/ba (BA 72.64, +0.34, +0.47%) . For the week, the Dow lost 2.1%, its worst percentage drop since November and worst point drop since August. The S&P 500 /quotes/comstock/21z!i1:in\x (SPX 1,320, +13.78, +1.06%) rose 13.78 points, or 1.1%, to 1,319.88, led by a 1.4% gain in financials. It fell 1.7% for the week. The Nasdaq Composite /quotes/comstock/10y!i:comp (COMP 2,781, +43.15, +1.58%) rose 43.15, or 1.6%, to 2,781.05 for the day and lost 1.9% for the week.

CNN: Eyewitnesses to the Arab Protests

CNN


5 Eyewitnesses to the Arab Unrest
5 Eyewitnesses to the Arab Unrest
As demonstrations continue to spread across the Middle East and Africa, CNN iReporters have been sharing their stories of the chaos as it unfolds before them. Their firsthand accounts follow both the peaceful and violent moments as unrest erupts. High unemployment, corruption and political repression sparked initial protests in Tunisia with similar sentiments rippling into Egypt, Libya, Yemen and Bahrain among others that have changed the daily lives of citizens dramatically. Full Story

WSJ: Intelligent Investor: Look Who's Buying Stocks Now

The Intelligent Investor, by Jason Zweig
from The Wall Street Journal


Call them the sheepish bulls—the people who know they sold low two years ago and worry that they are buying high today. How will it end?

http://online.wsj.com/article/SB10001424052748704692904576166290382532296.html?mod=djintinvestor_t

Financial And Forex Info: CMI Gold & Silver Spot Prices At Close Of Trading In New York

 
 
CMI Gold & Silver
 Spot Prices as of the close of trading in New York
As of: Friday February 25, 2011

  Today Change Week Ago Month Ago Year Ago
Gold $1,410.10 -$6.10 $1,388.60 $1,332.60 $1,108.60
Silver $32.99 -$0.27 $32.37 $26.84 $16.15
Platinum $1,806.90 +$17.60 $1,844.50 $1,787.30 $1,533.80





Mineweb: Top Stories:Vale reports ‘best ever' annual result of US$17.3bn in 2010

Mineweb logo

TOP STORIES | Friday , 25 Feb 2011                                                     

 

Vale reports ‘best ever' annual result of US$17.3bn in 2010

Vale CEO Roger Agnelli says--that given the company's project pipeline and the demand for its metals and minerals production-"even better days are ahead for us."    Friday , 25 Feb 2011

A good season for gold's top four

Newmont tops up a fine reporting season for the world's top four global gold diggers and demonstrates once more that cash is pumping but capital expenditure looms ever larger    Thursday , 24 Feb 2011

Newmont reports highest net income in 90-year history

Newmont‘s 2011 attributable gold production is expected to range from 5.1 million to 5.3 million ounces with attributable copper production of 190 million to 220 million pounds.    Friday , 25 Feb 2011

Goldcorp approves Éléonore and Cochenour mine development

Goldcorp has reported record gold production of 2,520,300 ounces in 2010 and says it expects to mine between 2.65m and 2.75m ounces of gold next year    Friday , 25 Feb 2011

Science and technology: Gold's new frontier

Plans for gold to enter commercial use in automotive emissions control during the first quarter of this year are just one of the new avenues use being explored for the yellow metal    Thursday , 24 Feb 2011

SA's DMR responds to prospecting rights granted over game reserves

South Africa's Department of minerals responds to questions over how it could grant prospecting rights over parts of Welgevonden Wildland Scheme and the Marakele National Park    Thursday , 24 Feb 2011

Tata Steel's possible Canadian partnership may face Chinese competition

The Indian steelmaker has first rights on a tie up with a junior Canadian iron ore explorer. But, the right expires on Feb 28th and CITIC Securities seems to be waiting in the wings    Friday , 25 Feb 2011

Gold and copper revenues see 6% Q4 profit hike for Peru's Buenaventura

Buenaventura's annual net income rises 12% from last year, but gold production including Yanacocha fell 17% in 2010.    Friday , 25 Feb 2011

Leap in profits for Iamgold as gold production rises

Iamgold's Q4 profit jumps to $144.9 million as production rises 35%.    Friday , 25 Feb 2011

Japan endeavours to cut rare earth utilization by a third

Investment of $1.34 bln by 160 firms, with subsidy from Japanese government, expected to slash rare earth use by a third. More spending due as governmentt invites similar projects.    Friday , 25 Feb 2011

Nyrstar rights issue a step towards more mining

The Belgian miner says its plan to raise €490m via a rights issue will provide it with the necessary financial flexibility to continue to deliver on its strategy of a 50:50 split between mining and smelting    Friday , 25 Feb 2011

45% decline in Japan's copper exports over last year

Japan's Ministry of Finance data reveals drop in refined copper exports to 26,208 tonnes.    Friday , 25 Feb 2011

Strike over at Gammon Gold's El Cubo mine

Gammon Gold reaches agreement with union after eight-month dispute over on profit-sharing at Mexican mine. Company to produce definitive production timetable.    Thursday , 24 Feb 2011

Rio lifts force majure on two Australian coal mines

The two mines, Blair Athol and Kestrel have been under force majeure since late December, after severe flooding in Queensland.    Thursday , 24 Feb 2011

MENA unrest could see gold revisit 1980s and hit $2000

In the 1980s unrest in the Middle East and a surge in oil prices, were the triggers which drove gold to record highs. The current Middle East/North Africa (MENA) unrest could see history repeat itself.    Friday , 25 Feb 2011

Yesterday's Top Story: Wardrop PA says Alaska's Pebble copper-gold project of global importance

Wardrop's 43-101 report suggests the mine life of the Pebble copper-gold-moly project could span from 25 to 78 years, yielding billions of pounds of copper, and millions of gold ounces.    Thursday , 24 Feb 2011

The Washington Post Afternoon Edition: Today's Most Read Articles: (1) Rubicon: A river in Wisconsin

Washington Post


1) Rubicon: A river in Wisconsin

Gov. Walker is about to show what fiscal seriousness really looks like.

2) Mike Huckabee, gay-marriage defender

The Republican didn't mean to but he offered a good rationale for same-sex marriage.

3) Gingrich: If it comes to a shutdown, the GOP should stick to its principles

argues the '95 shutdown helped America - and the GOP.

4) And the Oscar for most historically inaccurate film goes to . . . all of them!

"The King's Speech" might take home the Oscar for Best Picture on Sunday, but judging from the criticisms it's receiving, it won't win any awards for historical accuracy.

5) Scott Walker's unprincipled rigidity

"He's not one of us." That phrase, uttered in the fourth minute of what Scott Walker believed to be a private phone conversation, tells you everything you need to know about the rookie governor of Wisconsin. Walker thought he was talking to a patron, conservative billionaire David Koch, but thank...

6) Amid the Mideast protests, where is Saudi Arabia?

In the Mideast opera, the fat lady hasn't sung -- but that may be about to change.

7) It's time to get tough with Libya

The U.S. and other nations have more options than Obama seems to think.

8) Gay marriage and Obama's end run around democracy

Obama's end run on the Defense of Marriage Act leaves it up to the House.

9) How not to promote democracy in Egypt

The U.S. can foster freedom in the Mideast -- but not if it tries to also pick sides.

10) NFL owners should open their books to players

The best way to avoid a lockout starts with some financial candor from the owners.

Financial And Forex Info: Reuters - Deals Today: Exclusive: Renault-Nissan rules out merger between companies.





News


  Glencore is Switzerland's top-grossing company and has been compared with investment banking giant Goldman Sachs. It's the biggest company you never heard of.


Global listings activity has been the highest on record so far this year, with firms raising a total of $24 billion from IPOs, according to Thomson Reuters data.

A Renaissance Capital report looks at what is driving this year's surge in U.S. IPO activity.

U.S. antitrust regulators will give a hard look at any attempt by Nasdaq OMX to acquire NYSE Euronext, experts said, with some predicting a prolonged review or "serious" snags.

Private equity firms face mounting competition from deal-hungry strategic buyers with the cash and appetite to outbid them, stealing away some of the companies they have been tracking for some time.

The investigators looking into the Bernard L. Madoff fraud could spend over $1 billion on the case and have already made some interesting discoveries, reports the New York Times.

DealZone

 
LATEST NEWS
Exclusive: Renault-Nissan rules out merger between companies
YOKOHAMA, Japan (Reuters) - Carlos Ghosn on Friday ruled out a merger between Renault and Nissan, the two auto giants he heads, but said he would review the capital structure of the partnership after pressure from investors in the struggling French car maker. | Full Article

News Corp kicks off Myspace sale process
February 25, 2011 07:20 AM ET
NEW YORK (Reuters) - News Corp has kicked off the process to explore the sale or spin-off of its troubled social entertainment site, Myspace, a person familiar with the talks said on Thursday. | Full Article
Global IPOs have best start to year on record
February 25, 2011 06:07 AM ET
LONDON (Reuters) - Global listings activity has been the highest on record so far this year, with firms raising a total of $24 billion from initial public offerings (IPOs), according to Thomson Reuters data on Friday. | Full Article
Interserve in pole position for Mouchel takeover
February 25, 2011 08:26 AM ET
LONDON (Reuters) - British support services company Interserve has made a cash-and-shares approach to peer Mouchel to create a UK outsourcing powerhouse, trumping construction firm Costain. | Full Article
Exclusive: Allison Transmission planning $1 billion IPO
February 24, 2011 07:37 PM ET
NEW YORK/DETROIT (Reuters) - Allison Transmission, which makes automatic transmissions for fire trucks, school buses and military vehicles, has hired banks for a third quarter initial public offering that could raise around $1 billion, four sources familiar with the situation said. | Full Article


Morning Market Briefing


Morning Market Briefing
Friday, February 25, 2011, 09:01
____________________________
Commentary
Stock futures are pointing to moderate gains Friday morning, as traders are breathing a sigh of relief with crude prices leveling off after a pledge by Saudi Arabia to ramp up production in the event of further supply disruptions. The major index futures are all in positive territory, with the Dow futures up by 60 points. (Feb 25, 2011) Full Article
Economic News
Core inflation in Japan was down 0.2 percent on year in January, the Ministry of Internal Affairs and Communications said on Friday - falling for the 23rd consecutive month, although marking the slowest pace of decline since April 2009. (Feb 25, 2011) Full Article

South Korea saw a current account surplus of 229 million in January, the Bank of Korea said in a preliminary report on Friday, remaining positive for the 11th straight month but hitting its lowest level in that same span of time. (Feb 25, 2011) Full Article


UK consumer confidence edged up only slightly from January's 22-month low this month as Britons became more downbeat over the prospects for the economy, a closely watched survey showed on Friday.Full Article (Feb 25, 2011)




The British economy contracted more than initially estimated in the fourth quarter with the only support coming from government spending. (Feb 25, 2011) Full Article.
U.S. economic activity in the fourth quarter increased by much less than originally estimated, according to a report released by the Commerce Department on Friday, although the report showed continued economic growth for the sixth consecutive quarter. (Feb 25, 2011) Full Article


Specialty pharmaceutical company Warner Chilcott plc (WCRX) Friday reported a profit for the fourth quarter compared to a loss last year. The turnaround reflected higher revenues from acquired products and also sharply lower costs, as the year-ago quarter was weighed down by acquisition related expenses.Full Article (Feb 25, 2011)




Tenet Healthcare Corp. (THC) said Friday fourth-quarter profit surged 252% on greater number of paying outpatient visits, “strong” growth in pricing and a reduction in controllable expenses. Revenues, however, missed estimates. The company also reaffirmed its 2011 financial outlook. (Feb 25, 2011) Full Article
Solar electric power modules manufacturer First Solar Inc. (FSLR) Thursday reported a higher fourth-quarter profit thanks to an increase in module production and a drop in module cost per watt. However, revenues declined on lower module prices. Earnings beat analysts' estimates, but revenues missed. The company also upped its 2011 earnings guidance, and tightened its revenue outlook range. (Feb 25, 2011) Full Article.

Goldcorp Inc. (GG, G.TO) said Thursday fourth-quarter profit went up sharply from the previous year on higher production and lower cash costs on a by-product basis. Both adjusted earnings and revenues topped the market view. (Feb 25, 2011) Full Article.

 The US Air Force announced Thursday its selection of Boeing to manufacture its next generation of airborne refueling tankers. The contract to replace 179 of existing tankers is valued at about US$35 billion.Full Article  (Feb 25, 2011)


American International Group Inc., or AIG, (AIG) Thursday announced a fourth-quarter profit primarily due to gains on net realized capital and divested businesses. (Feb 25, 2011) Full Article


DreamWorks Animation SKG Inc. (DWA) said Thursday fourth-quarter profit nearly doubled from the same period last year, thanks to a large tax benefit. Revenues increased on sales of consumer products related to the animation movie Megamind. While earnings topped estimates, revenues fell short. (Feb 25, 2011) Full Article




Financial And Forex Info: Preliminary Estimate of Real GDP grew at an annual rate of 2.8 in Q4, 2010




Economics and Statistics Administration Logo
Real gross domestic product (GDP) grew at an annual rate of 2.8 percent in the fourth quarter of 2010, according to today’s preliminary estimate.  This follows a growth rate of 2.6 percent in the third quarter.

Financial And Forex Info | Reuters - Before The Bell: Futures gain after week-long sell-off, data eyed




News
LATEST NEWS
Futures gain after week-long sell-off, data eyed
NEW YORK (Reuters) - Stocks index futures rose on Friday after a week-long sell-off, adding to a late rebound in the previous session as oil prices stabilized. | Full Article

U.S., Saudi reassure on growth as Libya turmoil drives oil
February 25, 2011 07:44 AM ET
WASHINGTON/RIYADH (Reuters) - The world can weather a spike in oil prices, U.S. President Barack Obama said, as Saudi Arabia offered some respite to fears over Middle East oil supplies by indicating it can cover export cuts resulting from Libya's civil war. | Full Article
Special report: The biggest company you never heard of
February 25, 2011 07:52 AM ET
BAAR, SWITZERLAND (Reuters) - On Christmas Eve 2008, in the depths of the global financial crisis, Katanga Mining accepted a lifeline it could not refuse. | Full Article
Boeing bests EADS with aerial tanker win
February 25, 2011 03:29 AM ET
WASHINGTON (Reuters) - Boeing Co won a $30 billion contract for 179 new U.S. Air Force refueling planes on Thursday, trumping arch rival Airbus parent EADS in a fiercely contested competition that began nearly a decade ago. | Full Article
UK economy shrank even more than first thought in Q4
February 25, 2011 05:43 AM ET
LONDON (Reuters) - Britain's economy contracted even faster than previously thought at the end of last year after the first fall in household spending in 18 months, denting expectations for an imminent rise in interest rates. | Full Article