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Apr 2, 2013

U.N. Treaty Aims to Limit Arms Exports for Rights Abusers: NYT l Gobal Update April 2, 2013.

The New York Times International Herald Tribune
April 2, 2013
Compiled 20:45 GMT

Global Update


U.N. Treaty Aims to Limit Arms Exports for Rights Abusers

The General Assembly approved the first-ever treaty to regulate the global trade in conventional weapons Tuesday, linking such sales to the human-rights records of the buyers.

Unemployment in Euro Zone Reaches a Record 12%

The jobless rate for the first two months of 2013 was the highest since the creation of the euro in 1999.

North Korea Says It Will Restart Reactor to Expand Arsenal

North Korea's threat to put all its nuclear facilities to use, including a reactor shuttered in a disarmament deal, came after a series of bellicose statements.

Op-Ed Contributor

A Chance to Reunify Cyprus

The economic crisis and other new realities create an opportunity to end the division of Cyprus.

Video: North Korea Heightens Nuclear Tensions

The country's leadership strives to gain leverage in its escalating standoff with the United States and its allies.

Japan Shifts From Pacifism as Anxiety in Region Rises

A mock island invasion exercise is the latest sign that worries over China and North Korea are pushing Japan away from pacifism.

Chinese Editor Suspended for Article on North Korea

The editor of an influential Communist Party journal had called China's alliance with North Korea "outdated" in an article for a British newspaper.

Syria's War Complicates Delivery of Food Aid, U.N. Agency Says

The World Food Program said it was becoming increasingly difficult for trucks to get food to hungry Syrians without being caught in the cross-fire.

To Close Tech's Gender Gap, Teaching Girls to Code

A recent crop of programs is trying a new approach to increasing the number of women in the technology field: Teaching teenage girls how to write computer code.

Car Sales Keep Up Their Streak

Chrysler said it sold more cars and trucks in March in the United States than in any month since December 2007, while Ford and General Motors also posted sales gains.

Google to Face National Regulators Over Privacy Policy

While the watchdogs had repeatedly threatened a united front, privacy laws are fragmented across the European Union, so there was little incentive for Google to yield.

Pressured by China, Apple Apologizes for Warranty Policies

Apple's chief, Timothy D. Cook, said he would improve customer service after increasingly ferocious criticism from Chinese media outlets.

Obama to Unveil Initiative to Map the Human Brain

President Obama on Tuesday will announce a research initiative, starting with $100 million in 2014, to invent and refine new technologies to understand the human brain.

A Setback for Resellers of Digital Products

A federal judge's ruling could halt the resale of digital music as well as other digital good like e-books.

Di Canio's Tumultuous Start at Sunderland Is No Surprise

Paolo Di Canio is probably the most dangerously beguiling personality associated with English and Italian soccer over the past two decades.

Regional Politics Cloud Start of Cricket Season

Players from Sri Lanka, runner-up in the past two world championships, face partial exclusion from the Indian Premier League this year.

Chelsea Tops Manchester United

Demba Ba's goal sent Chelsea into the F.A. Cup semifinals with a 1-0 victory over Manchester United on Monday.

To Fight Gridlock, a City Synchronizes Every Red Light

With the number of cars on the road continuing to rise, boosters of Los Angeles's new synchronized traffic system admit it may not be enough to prevent gridlock from worsening.

Confusion in Atlanta as Educators Are Set to Be Jailed

On a day when 35 educators were supposed to be jailed in the nation's largest school-cheating scandal, the judicial system was unprepared.

Under Heavy Security, N.R.A. Details School Guards Plan

Officers and a bomb-sniffing dog were on hand as the gun-rights group unveiled its recommendation that every school hire armed guards.
Op-Ed Columnist

Freedom Loses One

If same-sex marriage becomes the law of the land, it will be a victory for living in a society that induces you to narrow your choices and embrace your obligations.

Cyprus Was Not an Exception

Europe needs to address risks in other financial hubs like Luxembourg and Malta, which have banking systems much bigger than their economies.

Jim Sinclair: Today's Massive Attempt to break gold: GATA I THE GATA DISPATCH 2 April, 2013.

Jim Sinclair: Today's massive attempt to break gold

By Jim Sinclair

Tuesday, April 2, 2013

This is a massive attempt to break gold in order to camouflage the weakening Western banking sector. Paid bashers are flooding in to all pro-gold sites and many other pro-gold sites are under attack in other ways.
Gold banks are flogging the paper market seeking to depress the price but without selling too much.
It is so obvious that this is a gold bank-organized strategy to keep gold under $1,600. Old lows will hold and the reversal will be at a spiritual level.
My strategy is simply to do nothing.

DealBook P.M. edition 2 April, 2013.: Women in a Man's World Home |Business Day| Video The New York Times

Tuesday, April 2, 2013
Women in a Man's World Irene Dorner, chief executive of HSBC U.S.A., tells Andrew Ross Sorkin that the few women in the upper levels of Wall Street should have been better role models for the generation that followed.
For the latest updates, go to »

DealBook Special Section
White Collar Watch: Women Lead the Way in White-Collar Law Peter J. Hennig says that the roster of faculty members who have helped shape white-collar crime as an important field of legal study is made up largely of women.
A Law Firm Stands Out for Its Work, not Its Gender Makeup At Brune & Richard in Manhattan, six of the nine partners are women, but its lawyers say there is nothing distinct about the firm's femaleness.
ADDING WOMEN Joan S. Solotar heads external relations and strategy at the Blackstone Group and oversees a dinner series and events for female employees.
Chipping Away at the Glass Ceiling in Private Equity Private equity firms are still male-dominated places, but women are navigating the career ladder, and some are striking out on their own.
Deal Professor: Why So Few Women Reach the Executive Rank Steven M. Davidoff says that finding ways to increase the number of female executives depends on what is seen as the reason that number is so low.
Reshma Saujani, right, founder of Girls Who Code, encouraged young women at a recruiting event to apply to the program.
To Close Tech's Gender Gap, Teaching Girls to Code A recent crop of programs is trying a new approach to increasing the number of women in the technology field: Teaching teenage girls how to write computer code.
After Boom-Boom Room, Fresh Tactics to Fight Bias Landmark suits like the so-called boom-boom room case are not as prevalent now. But women who face discrimination are pursuing their legal options behind the scenes and many cases are handled in private proceedings run by arbitration panels.
To Meet Norway's Quotas, a Crash Course in Board Business A 16-day program, driven by a government mandate, teaches potential board candidates about corporate governance and lets them form networks.
Sallie Krawcheck says women need sponsors more than mentors. Mentors will offer advice and guidance; sponsors will actually pull women's careers along.
Lessons on Being a Success on Wall St., and Being a Casualty Sallie Krawcheck, veteran of meteoric rises and falls, says women need sponsors to counteract the comfort zones in which men seek out other men because they have more in common.
The headquarters of Fannie Mae in Washington, DC.
Big Profits at Fannie and Freddie Reignite Debate on Housing Supports Fannie Mae and Freddie Mac reported huge profits for 2012, which is likely to intensify the debate over the amount of involvement that the government should have in supporting the housing market.
Law Firm Partner Accused of Sexual Harassment Fires Back Juan Monteverde and his law firm, Faruqi & Faruqi, filed a counterclaim in Federal District Court in Manhattan on Tuesday, accusing a junior lawyer of defamation and damaging his and the firm's reputation.
Breakingviews: Staying Independent Is Not Much of an Option for MetroPCS Robert Cyran and Jeffrey Goldfarb says that activist investors claim that the T-Mobile USA deal shortchanges MetroPCS shareholders. The case about valuation may be reasonable, the authors say, but making one for independence is not.
Standard Deduction: A Plan to Simplify the Tax Code That May Be Too Simple Victor Fleischer says that a draft proposal in Congress does nothing to address how the partnership tax rules are now being used, and abused, by large businesses.
After Running S.E.C., Schapiro Becomes Bank Consultant Mary L. Schapiro is joining the Promontory Financial Group, a consulting firm that steers banks and other financial firms through regulatory scrutiny.
Could Verizon's Best Friend Be Its Biggest Rival? Verizon is working with its main rival, AT&T, about a joint bid for Vodafone, The Financial Times's Alphaville blog reports. If true, a successful deal could solve issues at both Verizon and Vodafone.
$14 Million SAC Settlement Is Approved Judge Harold Baer approved a pact in which SAC agreed to pay $14 million to settle accusations by the Securities and Exchange Commission that the fund's Sigma Capital unit illegally traded in shares of technology companies after a former analyst there obtained secret information about the companies.
Glencore Extends Deadline for Xstrata Takeover The commodities trader announced that it had pushed back the completion date for its $34 billion takeover of the mining company Xstrata amid a review by Chinese authorities.
Economic Reports Data to be released on Wednesday includes A.D.P. employment and the I.S.M. nonmanufacturing index for March.
Corporate Earnings Companies scheduled to report results include ConAgra Foods and Monsanto.

Quotation of the Day
"Women do funny things. They do things like work very hard and expect to be noticed for it - and they're not, because it doesn't work like that."
Irene Dorner, chief executive of HSBC North America, on women working in finance.

9 Infrastructure Plays to Make Today: MoneyShow Investors Daily Alert 2 April 2013.


The Daily Guru
Jim Jubak on
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Wall Street at Close Report 2 April 2013: Dow and S&P 500 close at record highs; by Kate Gibson and Polva Lesova, MarketWatch

By Kate Gibson and Polya Lesova, MarketWatch 

NEW YORK (MarketWatch) U.S. stocks gained Tuesday, with the Dow Jones Industrial Average and S&P 500 hitting record closing highs, as health insurers rallied on Medicare-reimbursement news and U.S. factory orders rose in February. 

“You have continued confirmation that the economy is in pretty good shape,” said Jim Dunigan, managing executive for investments at PNC Wealth Management. 

After rising 111 points to an all-time intraday high of 14,684.49, the Dow Jones Industrial Average DJIA +0.61%  added 89.16 points, or 0.6%, to end at 14,662.01, its loftiest close ever. 

UnitedHealth Group Inc. UNH +4.70% led gains among all but seven of the benchmark’s 30 components. The health insurer rallied 4.7%.

UnitedHealth and other insurers surged after the government relinquished plans to cut payments for private Medicare Advantage insurers and said it would instead hike them by 3.3%. 

Humana Inc. HUM -0.01% rose 5.5%, even as the company warned of other challenges. Cigna Corp. CI +2.92%  gained 2.9% and Aetna Inc. AET +3.67%  rallied 3.7%. 

After coming within 2.4 points of its intraday record of 1,576.09 set on Oct. 11, 2007, the S&P 500 index SPX +0.52%  jumped 8.08 points, or 0.5%, to end at 1,570.25, clearing its record-high finish. Health care posted the biggest gain among the 10 major sectors, while materials performed the worst. 

“You look at these levels and a lot of people are scratching their heads. But if you look at past peaks, the market is on much better footing than five years ago. Whether you look at earnings, dividends, sales or book values, valuations are in much better shape,” said Dunigan. 

Hewlett-Packard Co. shares HPQ -5.19%  slumped 5.2% after Goldman Sachs downgraded the high-tech giant to sell from neutral. 

The technology-heavy Nasdaq Composite index COMP +0.48%  rose 15.69 points, or 0.5%, to 3,254.86.
Shares of Apple Inc. AAPL -0.07%  rose 0.2%. Analysts at Goldman Sachs removed the stock from their U.S. conviction list, but maintained a buy rating on the consumer-electronics maker. Apple shares sank Monday as the company apologized after coming under criticism in China for customer-service policies.

Blame game begins in Cyprus
Now that one of its major banks has been closed and many depositors have faced a levy as part of its debt bailout, Cyprus is trying to work out how it got into such a financial mess. WSJ’s Alkman Granitsas looks at the accusations that have started to fly and the investigation that is planned. 

Decliners edged just ahead of advancers on the New York Stock Exchange, where 639 million shares exchanged hands. 

Composite volume neared 3.3 billion. 

On the New York Mercantile Exchange, crude-oil futures for May delivery CLK3 -0.23%   rose 12 cents to end the floor session at $97.19 a barrel.

Gold futures for April delivery GCJ3 -1.53%   lost $24.90, or 1.6%, to finish at $1,575.10 an ounce.
In economic news Tuesday, the Commerce Department reported factory orders rose 3% in February, in line with expectations.
Wall Street saw pressure Monday after the Institute for Supply Management’s factory index unexpectedly declined in March, although the gauge remained in positive territory.
“Although we’re in a recovery, it’s still lackluster compared to others. We lost about eight million jobs in the recession and gained back five million or so. By most historical recoveries, we should have added back all the jobs and then some,” said Dunigan, who estimated Friday’s monthly payrolls report will show the economy added about 185,000 jobs in March.
In an ongoing bid to bring down the unemployment rate, the Federal Reserve has continued an accommodative monetary policy, which has also boosted equities.
“The Fed’s continued program of low interest rates and quantitative easing will force investors into other asset classes. There’s a lot of potential risk on the fixed-income side given where rates are, and with future rate increases. Cash might make you feel good, but it doesn’t provide much return, so there is not much alternative to equities in this environment,” said Dunigan.
Cash or ultra-short fixed-income positions are “a good way to go poor slowly,” Brian Rehling, chief fixed-income strategist at Wells Fargo Advisors, told a gathering in New York City Tuesday.


Car makers were also in the spotlight as they reported March sales figures. raised its 2013 forecast for U.S. light vehicle sales to 15.5 million, signaling optimism about the industry. 

Ford Motor Co. F +0.85%  said its U.S. sales rose 5.7% in March and Chrysler Group LLC, which is owned by Italy’s Fiat SpA IT:F -1.30%  , said its U.S. sales climbed 5% in March from the same period a year ago, marking the best monthly sales since December 2007. 

General Motors Co. GM +0.47%  said its U.S. sales rose 6.4% during March

Car makers such as Ford Motor Co. reported U.S. sales for March on Tuesday.  
Shares of interdealer broker BGC Partners Inc. BGCP +48.57%  soared nearly 49% after Nasdaq OMX Group Inc. NDAQ -12.81%  agreed to acquire the firm’s electronic
Treasurys marketplace in a cash-and-stock deal valued at as much as $1.23 billion. Shares of Nasdaq OMX, however, fell almost 13%, making the stock the biggest loser in the S&P 500.

Kate Gibson is a reporter for MarketWatch, based in New York. Polya Lesova is MarketWatch's New York deputy bureau chief. Follow her on Twitter 

ADVFN III Evening Euro Markets Bulletin 02 April 2013.

ADVFN III Evening Euro Markets Bulletin
Daily world financial news Tuesday, 02 April 2013

London Market Report
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London close: Markets surge as M&A activity lifts sentiment
Market Movers
  • techMARK 2,438.55 +0.77%
  • FTSE 100 6,490.66 +1.23%
  • FTSE 250 14,056.96 +0.96%
UK stocks surged on Tuesday, starting the week strongly after the four-day Easter weekend, as increased M&A activity and a strong reading of US factory orders lifted sentiment.

Telecoms giant Vodafone was among the risers on London's benchmark index on the back of speculation that it could be the target of the biggest takeover deal on record.

Better-than-expected factory orders Stateside boosted stocks on Wall Street today, as US markets rebounded after manufacturing figures disappointed on Monday (US financial markets were among the few to be open yesterday). Factory orders in the States rose 3.0% in February, above the 2.9% increase expected, and recovering after January's 2.0% drop.

Economic data this side of the Pond early on was less cheery however, as manufacturing purchasing managers' indices (PMIs) in the Eurozone and the UK both remained below the key 50.0-point threshold that separates growth from contraction.

"Equity markets opened higher this morning and have largely pushed on throughout the session as traders nudge risk assets higher following the Easter break," said Alex Young, a Senior Sales Trader at CMC Markets.

"Mixed PMI numbers from the UK and Europe were largely ignored as positive sentiment drove the gap between equity valuations and macroeconomic data ever wider," he said.
FTSE 100: M&A speculation boosts Vodafone
Vodafone's shares surged following reports that Verizon and AT&T were working on a break-up bid for the British firm. The two US telecoms groups are said to be considering a deal that would see them pay a 40% premium to Vodafone's share price at Monday's close, sources told FT Alphaville. It would put Vodafone's enterprise value at $245bn, making it the biggest merger and acquisition in history.

easyJet was gaining ahead of its pre-close first-half trading update due Friday. The company is expected to show a jump in figures on the back of the bad weather in the UK.

Heading the other way was the mining sector, which was under pressure as metals prices declined. Meanwhile, less-than-impressive figures on Chinese, Eurozone and UK manufacturing over the last day or two have weighed on sentiment.

Steelmaker EVRAZ was among the worst performers after announcing this morning that it has signed an agreement to buy a majority stake in the OSJC Timir iron ore project in Russia for $160m. Sector peers ENRC, Antofagasta, Randgold Resources, Vedanta and Anglo American were all lower.

Shares in engineering group IMI were also lower after Goldman Sachs cut its rating on the stock from 'buy' to 'neutral', saying that it is no longer materially mispriced after its strong re-rating.
FTSE 250: FirstGroup, ICAP lead the risers
FirstGroup, the bus and train operator, surged today after Bank of America Merrill Lynch upgraded it from 'underperform' to 'buy', saying that extensions to contracts and divestments could give the stock a boost.

Inter-dealer broker ICAP was on the rebound after a recent profit warning. Giving it a boost was the positive readacross from NASDAQ OMX's deal to purchase the eSpeed unit from rival BGC Partners. Shore Capital said it was "positive for ICAP because it underscores the value inherent in its electronic broking assets."

Specialist insurance group Hiscox was a big faller after Goldman Sachs reiterated its bearish view on the stock.

FTSE 100 - Risers
easyJet (EZJ) 1,128.00p +4.44%
Rexam (REX) 547.50p +3.79%
Croda International (CRDA) 2,841.00p +3.57%
Admiral Group (ADM) 1,374.00p +3.15%
Experian (EXPN) 1,174.00p +2.98%
Royal Bank of Scotland Group (RBS) 283.70p +2.98%
International Consolidated Airlines Group SA (CDI) (IAG) 260.60p +2.92%
Vodafone Group (VOD) 192.00p +2.89%
SABMiller (SAB) 3,552.50p +2.55%
Morrison (Wm) Supermarkets (MRW) 283.20p +2.53%

FTSE 100 - Fallers
Eurasian Natural Resources Corp. (ENRC) 235.30p -4.39%
Evraz (EVR) 216.50p -2.48%
Antofagasta (ANTO) 966.50p -1.78%
Randgold Resources Ltd. (RRS) 5,590.00p -1.58%
Vedanta Resources (VED) 992.00p -1.29%
Anglo American (AAL) 1,674.00p -1.06%
IMI (IMI) 1,282.00p -1.00%
Shire Plc (SHP) 1,987.00p -0.85%
Severn Trent (SVT) 1,700.00p -0.70%
ARM Holdings (ARM) 916.00p -0.54%

FTSE 250 - Risers
FirstGroup (FGP) 216.10p +7.46%
ICAP (IAP) 308.10p +6.09%
Salamander Energy (SMDR) 218.10p +4.96%
Regus (RGU) 166.50p +4.91%
BBA Aviation (BBA) 269.00p +4.47%
Ashtead Group (AHT) 609.00p +3.84%
International Personal Finance (IPF) 461.20p +3.64%
New World Resources A Shares (NWR) 228.10p +3.54%
Morgan Advance Materials (MGAM) 292.20p +3.47%
Berendsen (BRSN) 812.00p +3.44%

FTSE 250 - Fallers
Petropavlovsk (POG) 204.90p -8.16%
Hiscox Ltd. (HSX) 568.00p -7.92%
Kazakhmys (KAZ) 369.50p -5.84%
Ferrexpo (FXPO) 165.20p -4.56%
Imagination Technologies Group (IMG) 477.30p -3.22%
African Barrick Gold (ABG) 187.30p -3.00%
Dixons Retail (DXNS) 33.13p -1.95%
RPC Group (RPC) 390.00p -1.89%
Savills (SVS) 533.50p -1.75%
Enterprise Inns (ETI) 104.30p -1.70%

Europe Market Report
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Europe midday: Stocks rise despite mixed data
- Events in Cyprus being watched
- Mixed data in the US and Asia over the weekend
- Mixed European economic data
- Banks deposited 144.9bn euros overnight at ECB

FTSE-100: 1.15%
Dax-30: 1.28%
Cac-40: 1.13%
FTSE-Mibtel 30: 0.89%
Ibex 35: 0.92%
Stoxx 600: 1.02%

The main European equity benchmarks are now registering large advances, despite the mixed data out over the long Holiday weekend in the United States and Asia.

Similarly, and in the background, investors are awaiting details of any possible agreement between Cyprus and its Troika of creditors, which may be forthcoming even as early as today.

Nevertheless, several reports indicate that the island's Finance minister has just resigned.

Meanwhile, the impasse continues in Italy.

From a sector stand-point the best performance is now to be seen in the following industrial groups: Telecommunications (2.02%), Utilities (1.71%) and Travel (0.82%).
Mixed economic figures
Germany's consumer price index (non-harmonised) rose by 0.4% month-on-month in March (Consensus: 0.4%).

The Eurozone's manufacturing sector purchasing managers' index for the month of January was revised higher, to 46.8 points, from 46.6 in the preliminary estimate.

The Eurozone's unemployment rate remained flat in January at 12%, while the previous month's reading was revised higher by a tenth of a percentage point.

Spanish unemployment fell by 5,000 persons in March, versus expectations for a rise of 30,000.
Other asset classes little changed
The euro/dollar is now down by 0.06%, to the 1.2840 dollar mark.

Front month Brent crude futures on the other hand are slightly higher, rising by 0.582 dollars to the 111.83 dollar level on the ICE.

US Market Report
US midday: Healthcare stocks surge on higher reimbursement rates
- Goldman's A.Cohen says companies have too much cash -Bbg TV
- Healthcare stocks surge
- Better than forecast factory orders
- Nasdaq OMX plummets

Dow Jones Industrials: 0.71%
Nasdaq Comp.: 0.82%
S&P 500: 0.68%

US markets are holding moderately higher on Tuesday, after a report on factory orders, with the S&P 500 nearing record intra-day highs.

Of interest, the Markit CDX North American Investment Grade Index, which measures US corporate risk, declined by 1.5 basis points to 88.5, according to Bloomberg.

At the moment healthcare stocks are by far the best performers after the Center for Medicare and Medicaid services yesterday announced a 3.3% increase in reimbursement rates for healthcare-plan providers to its Medicare Advantage program and prescription-drug benefit programs, instead of a decrease, as had been previously mooted.

Stock of Nasdaq OMX Group, which acquired eSpeed from BGC Partners for $1.23bn is plummeting.

Goldman Sachs Group reportedly announced plans to create a new unit that would enable its clients to invest in middle market companies. In parallel the stock was said to have been downgraded by Bank of America Corp, while some media outlets are commenting on the Federal Reserve's petition to the bank to submit new capital plans.

Shares of Hewlett Packard are leading losses on the Dow on the back of a downgrade from Goldman.

In other news, car manufacturers posted strong sales for March, with Ford Motor delivering a 5.7% rise and Chrysler Group 5.0%. upped its prediction for 2013 light vehicle sales to 15.5m.

Factory orders rose by 3.0% month-on-month in March (Consensus: 2.9%). The previous month's figure has been revised up, to show a fall of just 1.0%, from 2.0% before. Excluding transport they only grew by 0.3 per cent, but once defence is excluded the increase was by 2.4 per cent.

Same-store retail sales rose by 4.7% last week, according to the latest survey data from ICSC.

Front month West Texas crude futures are down by 0.73% to the $96.38 per barrel mark on the NYMEX.

10 year US Treasury yields are down by 2 basis points to the 1.85% mark.

S&P 500 - Risers
Humana Inc. (HUM) $81.20 +8.24%
Unitedhealth Group Inc. (UNH) $63.59 +7.83%
DaVita HealthCare Partners Inc (DVA) $126.86 +5.80%
CIGNA Corp. (CI) $66.14 +5.13%
Urban Outfitters Inc. (URBN) $40.28 +4.86%
WellPoint Inc. (WLP) $70.46 +4.48%
Actavis Inc (ACT) $96.46 +4.33%
Garmin Ltd. (GRMN) $33.96 +4.17%
Aetna Inc. (AET) $54.46 +3.97%
Alexion Pharmaceuticals Inc. (ALXN) $98.35 +2.87%

S&P 500 - Fallers
NASDAQ OMX Group Inc. (NDAQ) $28.97 -9.51%
Hewlett-Packard Co. (HPQ) $22.11 -5.15%
United States Steel Corp. (X) $17.93 -4.22%
Southwest Airlines Co. (LUV) $12.79 -3.33%
Western Digital Corp. (WDC) $49.18 -2.43%
Seagate Technology Plc (STX) $35.86 -2.34%
Newmont Mining Corp. (NEM) $40.43 -2.32%
Cliffs Natural Resources Inc. (CLF) $18.53 -2.20%
Valero Energy Corp. (VLO) $44.05 -2.05%
Yum! Brands Inc. (YUM) $69.88 -1.81%

Dow Jones I.A - Risers
Unitedhealth Group Inc. (UNH) $63.59 +7.83%
Pfizer Inc. (PFE) $29.28 +1.54%
Merck & Co. Inc. (MRK) $44.97 +1.39%
Verizon Communications Inc. (VZ) $49.80 +1.18%
Procter & Gamble Co. (PG) $78.50 +1.03%
Home Depot Inc. (HD) $70.35 +0.97%
Walt Disney Co. (DIS) $57.18 +0.86%
Cisco Systems Inc. (CSCO) $21.00 +0.82%
Coca-Cola Co. (KO) $40.75 +0.74%
AT&T Inc. (T) $37.52 +0.72%

Dow Jones I.A - Fallers
Hewlett-Packard Co. (HPQ) $22.11 -5.15%
Caterpillar Inc. (CAT) $85.11 -0.62%
Alcoa Inc. (AA) $8.34 -0.60%
Chevron Corp. (CVX) $119.38 -0.20%
Exxon Mobil Corp. (XOM) $90.66 -0.12%
Boeing Co. (BA) $85.15 -0.12%
American Express Co. (AXP) $67.25 -0.01%

Nasdaq 100 - Risers
Vodafone Group Plc ADS (VOD) $29.85 +5.33%
Nuance Communications Inc. (NUAN) $21.07 +4.41%
Garmin Ltd. (GRMN) $33.96 +4.17%
Alexion Pharmaceuticals Inc. (ALXN) $98.35 +2.87%
News Corp. Class A (NWSA) $31.03 +2.29%
Activision Blizzard Inc. (ATVI) $14.76 +2.22%
Monster Beverage Corp (MNST) $48.66 +2.10%
Comcast Corp. (CMCSA) $42.24 +2.07%
NetApp Inc. (NTAP) $34.76 +2.06%
Regeneron Pharmaceuticals Inc. (REGN) $182.06 +1.99%

Nasdaq 100 - Fallers
Western Digital Corp. (WDC) $49.18 -2.43%
Seagate Technology Plc (STX) $35.86 -2.34%
Linear Technology Corp. (LLTC) $36.64 -1.00%
Randgold Resources Ltd. Ads (GOLD) $84.22 -0.98%
Sears Holdings Corp. (SHLD) $50.15 -0.89%
Equinix Inc. (EQIX) $213.02 -0.89%
Altera Corp. (ALTR) $34.56 -0.55%
Dell Inc. (DELL) $14.23 -0.49%
Texas Instruments Inc (TXN) $34.86 -0.43%
Broadcom Corp. (BRCM) $34.10 -0.34%

Broker Tips
Broker tips: AstraZeneca, IMI, WPP
JPMorgan Cazenove has upgraded its rating for drugmaker AstraZeneca from 'underweight' to 'neutral' and lifted its price target for the stock from 2,750p to 3,400p, causing shares to edged higher on Tuesday.

"We continue to model AZN's earnings trough in 2017, however, as the pipeline matures and become more tangible in the coming two years, AZN's growth post 2017 may look more like UCB's (comfortable double-digit) than GlaxoSmithKline's (mid-single digit), and hence a trough multiple of up to 20x [earnings] by 2016 (as seen with BMS, LLY prior their trough) would not look implausible and could offer over 60% upside."

Shares in engineering group IMI were under pressure on Tuesday morning after Goldman Sachs cut its rating on the stock from 'buy' to 'neutral', saying that it is no longer materially mispriced.

The broker said that it continues to see IMI as a leader in the European capital goods sector but expects its organic growth to marginally underperform over the next three years. Nevertheless, the balance sheet will still allow it to provide "ample headroom for inorganic expansion".

Galvan Research and Trading has recommended to 'buy' shares of advertising and media group WPP, labelling the stock a "low-risk growth play".

"The highest gross margins in the industry speaks volumes for the WPP investment case, despite any quibbles over the uneven growth rate throughout the past year. In fact, Galvan Research views the advertising giant as a poster child for geographically diversified low risk growth and this along with a 2.9% like-for-like sales growth figure easily earns the group a 'buy' recommendation," said Andrew Gibson, the Head of Research at Galvan.