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MarketWatch.com - Pre-Market Indications
Monday, March 31, 2008
By Ambrose Evans-Pritchard, International Business Editor
The US Federal Reserve is examining the Nordic bank nationalisations of the 1990s as a possible interim solution to the US financial crisis.
The Fed has been criticised for its rescue of Bear Stearns, which critics say has degenerated into a taxpayer gift to rich bankers.
A senior official at one of the Scandinavian central banks told The Daily Telegraph that Fed strategists had stepped up contacts to learn how Norway, Sweden and Finland managed their traumatic crisis from 1991 to 1993, which brought the region's economy to its knees.
It is understood that Fed vice-chairman Don Kohn remains very concerned by the depth of the US crisis and is eyeing the Nordic approach for contingency options.
Scandinavia's bank rescue proved successful and is now a model for central bankers, unlike Japan's drawn-out response, where ailing banks were propped up in a half-public limbo for years.
Fed eyes Nordic-style nationalisation of US banks - Telegraph
Posted by st0ckman at 10:39 AM
Gapping down in reaction to weak earnings/guidance: HRT -9.6%, CGRB -8.2%, ABAT -8.1%, PLL -4.6%...
M&A news: ANSS -7.9% (signs definitive agreement to acquire Ansoft for implied value of $32.50/share)...
Other news: MO -69.5% (following spin-off of 100% of the shares of Philip Morris International), SGP -21.8% (Doubt cast on 2 drugs used to lower cholesterol - NY Times; also downgraded by ,multiple analysts), TMA -14.5% (received extension of override agreement with some repo counterparties; Deadline now Monday 3/31), MRK -11.4% (says based on the recommendation of the Steering Committee for ACHIEVE, further patient enrollment in the study has been placed on hold; also Doubt cast on 2 drugs used to lower cholesterol - NY Times), CMCSK -5.6% (still checking), IBN -4.5% (closed -7.8% in India trading), GFI -4.2% (announced Chief Executive Officer Ian Cockerill has decided to step down)...
Analyst downgrades: GU + -7.0% (downgraded to Mkt Perform at Piper Jaffray), TIBX + -5.1% (downgraded to Underperform at Jefferies), LYTS + -4.7% (downgraded to Hold at Needham), VOD + -3.7% (downgraded to Underweight at Morgan Stanley), SCUR + -3.1% (downgraded to Sell at Deutsche Bank), PEIX + -3.1% (downgraded to Underperform from Market Perform at Raymond James).
Gapping up in reaction to strong earnings/guidance: SVA +31.1%, CALM +8.4%, CDS +7.9%... M&A news: ANST +32.4% (to be acquired by ANSYS for $30.29/share in cash and stock), GILT +4.4% (to be acquired for $11.40/share in cash by an American and Israeli investment group)...
Select European financial names showing strength: UBS +2.8% (could ask for more capital at annual meeting - WSJ), BCS +1.4%, HBC +1.4%, CS +1.2%...
Other news: IACI +6.9% (judge rules for IACI in Liberty dispute), ASTI +6.2% (announces that the co has achieved its Q108 manufacturing milestone of Initial Operating Capability on its 1.5 megawatt production line), ALNY +5.5% (forms new agreement with Tekmira related to the planned Tekmira-Protiva business combination), MXWL +5.1% (modestly rebounding following Friday's 20%+decline), NE +4.3% (adds $4.0 bln in prospective rev backlog from five deepwater rigs in Brazil), SOL +3.4% (modestly rebounding following Friday's ~10% decline), EPD +2.8% (Cramer makes positive comments on MadMoney), AMAG +2.1% (Cramer makes positive comments on MadMoney), CRXL +2.0% (announces that its rabies monoclonal antibody combination has entered a Phase II clinical trial in the US), TXT +2.0% (receives $10.4 bln multi-year V-22 Osprey contract), MEDX +1.3% (announces that it will receive a milestone payment for an undisclosed amount from its licensing partner, Novo Nordisk A/S), BSX +1.1% (TAXUS Express stent shows similarly low re-intervention rates in diabetic patients compared to non-diabetics in ARRIVE 1 and 2 registries)... Analyst upgrades: IRM +3.4% (upgraded to Buy from Neutral at Merrill), OPLK +1.0% (upgraded to Neutral at Merriman), MOD +1.0% (upgraded to Neutral at Baird).
Wall St. Warrior: Pre-Market
Posted by st0ckman at 9:12 AM
NYSE Arca Morning Update for Monday, Mar 31, 2008 :
Stocks trading on NYSE Arca at a price more than 15% away from the previous trade day's consolidated close price. (As of 08:30:00 ET)
|Friday's Close||Current Price||Pct Chng||Current NYSE Arca Vol|
10 Most Active stocks on NYSE Arca as of 08:30:00 ET
|Based on Dollar Volume:||Based on Share Volume:|
NYSE Arca Morning Update
Posted by st0ckman at 8:36 AM
ANST +32.37%, BSX +15.0%, CALM +8.4%, IACI +6.9%, MXWL +5.1%, SOL +4.2%, EPD +2.8%, UBS +2.3%, AMAG +2.1%, TXT +2.0%, MEDX +1.3%...
MO -69.5% (following spin-off of Philip Morris International), HRT -40.9%, SGP -19.1%, TMA -18.2%, MRK -5.6%, PLL -4.6%, VOD -3.7%, MF -2.6%, CCU -2.4%, RZ -1.8%.
NEW YORK, March 31 (Reuters) - Engineering simulation software maker Ansys Inc (ANSS.O: Quote, Profile, Research) said on Monday that it would acquire Ansoft Corp (ANST.O: Quote, Profile, Research) for about $832 million in cash and stock to broaden its simulation capabilities.
Ansys expects the deal, which the boards of both companies have unanimously approved, to modestly boost its earnings in the first full year of combined operations.
The deals calls for the exchange of each Ansoft share for $16.25 in cash and 0.431882 common shares of Ansys. That implies a purchase price of $32.50 per share, the companies said in a statement.
Shares of Ansoft closed at $23.42 in Friday Nasdaq trade.
UPDATE 1-Ansys to acquire Ansoft for $832 million | Markets | Markets News | Reuters
Posted by st0ckman at 8:23 AM
Pre-Market Most Active Stocks - NASDAQ Premarket
Posted by st0ckman at 8:12 AM