Archive for the 'finance' Category
Aug
27
Thirty cents per share higher than what was proposed Hewlett-Packard. Dell renews its bid for 3PAR, with a proposal barely exceeds that of his rival, HP. After proposing $ 1.15 billion to buy the U.S. company data storage, Dell has had to increase its offer. Hewlett Packard had submitted a tender surprise on Monday of $ 1.6 billion, or $ 24 per share. Dell has proposed 30 cents more per share.
Takeover bid for all shares 3PAR
If the transaction has yet to receive regulatory approval, the computer maker said in a statement, however it should be finalized before the end of the year. "It should have a positive impact on our earnings before exceptional items from the fiscal year 2012, the company said.Dell now has until Sept. 20 to launch a public offer to acquire all the shares of 3PAR "through a subsidiary that owns 100%," says he needed no fax payday loans.
This acquisition will expand its range of storage products for the cloud computing (cloud computing via the Internet) and support its service activities. "With the acquisition of 3PAR, Dell will have the range of storage products for the broader market," said Dave Johnson, vice president of U.S. computer company, said in the statement. Data storage is the priority of our strategy.
3PAR does not wish to comment on this new offer, stating that it will "soon" on the subject.
Around 4:00 p.m., 3PAR lost 1.53% to 26.35 dollars, while Hewlett-Packard and Dell gained 0.42% respectively to 38.40% and 0.21 dollars to 11.81 dollars in a rising market 0.16%.
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Earlier this week hesitant on Asian financial centers. On Monday, stock markets in the region without changing direction. Fears of a slowdown in economic recovery or a return to recession, still occupy the minds of investors. Especially as Wall Street and European stock markets ended the week in the red Friday. In the U.S., operators are torn between optimism for the resumption of mergers and acquisitions and the battery of macroeconomic uncertainty.
In Japan, investors have the prudence of their American counterparts. After opening down 0.10%, the Nikkei has widened its losses during the session (-0.58%) to finish on a decline of 0.68% to 9116.69 points. It is the lowest level of the year. The broader TOPIX, yielded 0.58% to 824.79 points. The vigor of the yen against the dollar is once again pointing the finger. Unsettled, exporters have sealed document.The semiconductor equipment supplier Tokyo Electron, the specialist digital cameras Canon and carmaker Honda Motor lost between 0.53% and 2.52%.
In China, stock markets are even more hesitant. In Hong Kong, the Hang Seng was down 0.36% to 20,905 points while the Shanghai Composite gained 0.13% to 2645 points.
The Korean Kosdaq is at equilibrium (-0.02%), like the Indian Sensex (+0.06%) and the S & P Australia (-0.09%). In Australia, markets are disturbed by the results of parliamentary elections that failed to designate a clear winner.
Absence of major news, the market activity remains very calm. New major macroeconomic indicators are expected in mid-week in the U.S., particularly in the property sector and employment.
Oil climbs
Crude prices were up Monday in Asia on a flat market. In morning trading, a barrel of light sweet crude for October delivery gained 29 cents to 74.11 dollars, while that of Brent North Sea crude for October delivery increased by 21 cents to 74.47 dollars.
This increase ends three consecutive sessions of falling prices. But it remains fragile due to a strengthening dollar.
Closing reassuring Wall Street yesterday gave a positive impetus for the Paris Stock Exchange on Tuesday. While Asian investors have been cautious, the CAC 40 chooses the path upward. The index advancing 0.91% to 4:20 p.m. at 3672 points.
The French markets are still worn by banking shares. Yesterday, the shares had already boosted the index, in response to the publication of results of stress tests on Friday. On Tuesday, they are top of the ACC: Credit Agricole takes 8.53% to 10.47 euros, BNP Paribas 5.71% at 53.91 euros, Societe Generale 8.06% to 43.21 euros and Dexia 7 02% to 3.86 euros.
Elsewhere in Europe, the increase also dominates. The London Stock Exchange ahead of 0.80% to 5394.10 points. The DAX index of the Frankfurt Stock Exchange is gaining 0.49% to 6224.60 points.
Yesterday the key index in Paris managed to keep the threshold of 3600 points despite an early meeting very hesitant.Good numbers of U.S. homes have played an especially comforting to investors. And on Tuesday, rebelote: the Case-Shiller index of home prices meets the individual operators offering. It rose more than expected in May in the United States, +0.5%. The month of May and is the second consecutive monthly increase, a trend that comes after two months of consecutive decline.
But the Conference Board index, published in 16 hours, fell for the second straight month in July fell to its lowest level since February, to 50.4 in July against 54.3 (revised from 52.9) in JuneAn advertisement that has a little cooled investors.
After trading, the markets will see the unemployment figures for the month of June in France.
In addition, the Department of Ecology has announced that the number of starts of new homes in France fell 0.3% for the period April-May to June, compared to the same period a year ago, while the number of building permits recorded an increase of 25%.
On the foreign exchange market, the euro continues against the greenback. Around 1530, the euro was worth just under $ 1.30, but the threshold was crossed earlier.
Publication Burst
On Tuesday, the publications will be honored at the Paris Bourse:
Danone (-3.65% to 44.63 euros) announced before market opening a current net profit in the second quarter of 848 million euros and a turnover of 4.386 billion euros.The group raised its sales target of 2010 and provides a comparable increase of at least 6% against at least 5% previously.
Altran (7.46% to 3.24 euros) has reported a turnover of the second quarter 2010 from 357.6 million euros (+2.3%). The group expects a significant improvement in the margin in the second half of 2010.
The Land of the Regions (-0.12% to 72.85 euros) published a recurring net profit increased 1.1% to 153.4 million for its first half, with rents of 264.1 million , up 1.7% at constant perimeter and an occupancy rate of 94.4%.However, its net asset value, excluding financial instruments, stood at 73.20 euros per share, down from late 2009 due to the distribution of a special dividend for 2009, consisting of 3 30 euros in cash and six Beni Stabili shares, 52.5% owned subsidiary acquired in 2007
Note that M6 (-0.14%) will announce its interim results to 17 hours. Vinci (+0.29%) and Fleury Michon (stable) publish their turnover in the period after the stock market. Compagnie des Alpes (-0.72%) will announce its third quarter revenues.Meanwhile, Air France KLM (+0.69%) will release first quarter results are as LVMH (-1.26%) will release its first half results.
Sanofi repulsed Klepierre sanctioned
The U.S. biotechnology company Genzyme has rejected a buyout proposal made by Sanofi Aventis (-0.58% to 45.32 euros) according to Bloomberg.
Capgemini (-0.91% to 35.05 euros) has announced the signing of a 6-year contract between its subsidiary Capgemini UK and Royal Mail Group Limited (RMG), the British postal service, for its service management computer.
Klepierre (-4.56% to 24.67 euros), revised down slightly its 2010 targets of current cash flow and rents, the prospect of austerity plans in Europe have slowed the recovery of consumption.The land has produced a net current cash flow per share down 1.7% to 0.99 euro in the first half.
ICADE (0.56% to 73.47 euros) on Monday announced a net profit in the first half more than eight times while its net current cash flow per share, affected by the low profitability of its development division, declined 21%. Icade should propose a special dividend payment of at least four euros in the second half, tied to sales of homes.
April Group (-2.83% to 19.77 euros), saw the decline in sales accelerated to 12.9% in the first half.This is explained by the group with a focus on its brokerage business, which should result in a decrease of 25% of the insurance business in 2010.
Finally, Technicolor (2.96% to 4.18 euros) received a firm offer from the private equity fund Francisco Partners for the acquisition of the "broadcast professional" Grass Valley.
Caution has characterized the session Monday on U.S. markets. As we enter the ball of the first quarterly results, including Alcoa's after-hours trade, the U.S. markets have closed up slightly. The Dow Jones gained 0.18% to 10,216 points, the Nasdaq ahead by 0.09% to 2198 points and the S & P 500 rose 0.07% to 1079 points. Friday, Wall Street closed higher in very small volumes before the opening of the quarterly earnings season.
The euro under $ 1.26
On the foreign exchange market, the euro has further retreated from Monday to below $ 1.26, on a foreign exchange market characterized by a weaker yen due to the electoral defeat of the ruling party in Japan and Pending results of the first companies in the United States.In the eurozone, the key event of the week will be put on the market for Treasury bills Greek tomorrow, the first since the announcement of the bailout of the European Union and the IMF in May
The week will be rich in promises of economic indicators in North America. In addition to the cascade of results expected in the coming days, markets will look especially to the publication of the minutes of the last meeting of the Monetary Policy Committee of the Federal Reserve on Wednesday.They will look particularly at whether the Fed fears that the crisis of sovereign debt in Europe weigh on U.S. growth.
The ball starts quarterly results
In the absence of major macroeconomic publications on Monday, the market should focus on the first quarterly results announcements in the United States.
As always, the kick the ball in quarterly results, was given by the aluminum giant Alcoa (-0.64% to 10.87 dollars) on Monday after closing. Follow in the week the Google technology groups (2.35% to 478.48 dollars), AMD (2.89% to 7.55 dollars) or Intel (1.31% to 20.51 dollars), and JPMorganChase Bank (0.41% to 39.01 dollars) and Bank of America (-0.07% to 15.10 dollars).The figures will be scrutinized with JPMorgan special attention because many investors believe that it is the financial will signal a rebound in real markets.
BP blazes in London and New York
In addition, shares of BP, listed on the NYSE move up sharply to 4:20 p.m. amid speculation about possible asset sales of oil still struggling against the tide nore in the Gulf of Mexico. Like primary listing in London, where the title to earn 8.90% 397.25 pence, the action of BP climbed 5.64% to 35.97 dollars in the U.S. market increased from 0, 06%.
The Paris markets are taking a break on Wednesday after a strong upward meeting. At midterm, the CAC 40 was down 1.49% to 3372 points. But this decline was attenuated thereafter, the ACC back even balance around 15:30 at the opening of Wall Street. Investors were relieved after learning details of discounts debts zuro monarch in the area to be taken into account in the "stress tests".
Resistance testing of European banks do not include discount on German sovereign debt, said two banking sources told Reuters, adding that French loans could eventually be delisted, but very limited. It is otherwise sovereign debt of Portugal, Italy, Spain, Greece and Ireland, some of which will undergo a double-digit discount."We had to find a way to take into account the sovereign risk. It is a lesser evil to the extent that the market is really scary is the risk of default, "commented Alex Koagne, analyst at Natixis Securities. "The double-digit discounts for PIIGS (Portugal, Italy, Ireland, Greece and Spain), it is not very impressive. Greek debt is already dealing with a discount of about 20% of the market, "he added.
Tuesday, in a very quiet market, the indexes have climbed throughout the day to reach a closing up 2.73% over 3400 points. A rebound reflecting the high volatility of recent weeks: Monday again, the CAC 40 was approaching its lowest level this year.
Elsewhere in Europe, even movement.The Frankfurt Stock Exchange evolves decline of 1.27% to 5865.20 points while the FTSE index down 1.26% to 4902.70 points.
On Wednesday, investors in Paris after their Asian counterparts who chose to take profits. For its reopening after a weekend of three days, Wall Street gave no signal, calling instead for caution with a fence unconvincing in the green.
In terms of indicators, the trade deficit of France has risen sharply to 5.5 billion euros in May from 4.258 the previous month due to a decline in exports, according to data released by Customs. Economists had expected on average a deficit of 4 billion euros.
Also note that according to a recent estimate of the European office of statistics Eurostat, euro zone economy grew 0.2% in the soft first quarter.
Moreover, the German industrial orders fell for the first time this year in May, 0.5% from the previous month, according to figures released Thursday by the Ministry of Economy. Economists interogés by Reuters on average expected a rise of 0.5%.
The car in the viewfinder
As for values, the auto sector should move on Wednesday. Peugeot has announced an increase in worldwide sales of 16.9% in the first half. The title of the group climbed 0.14% to 21.60 euros.Furthermore, Peugeot would invest 700 million euros to resume production project in India, reports the Wall Street Journal.
For his part, Renault (-0.34% to 31.02 euros) which must publish its results tomorrow, Thursday trading.
Sodexo (-0.80% to 47.22 euros) released before the market turnover with 11.54 million euros in the first nine months of the year. The group is an organic growth of its turnover for the full year 2009-2010 of about 2% and hope to achieve an operating profit of between 780 and 800 million euros excluding currency effects the exercise.
Meetic (-0.99% to 19.90 euros) announced Wednesday to build on an EBITDA margin of between 20 and 25% for 2010, unchanged from its 2009 goal.The leading European dating sites also said that synergies from the integration of Match.com, the first since last June, should reach 10 to 15 million euros in the first year.
Atos Origin (-1.34% to 32.33 euros) announced Tuesday the launch of new services known as "smart mobility". The services company led by Thierry Breton makes 850 million euros in turnover in the field of electronic transactions and placed on the strong growth in use on smartphones.
After only eleven of the twelve adminisitrateurs group had agreed in December last year, Accor shareholders adopted by an overwhelming majority (88.49%) splitting the group into two separately listed companies, at the end of a general meeting. A project that was focused by the fund Colony Capital and Eurazeo, who hold 30% stake between them. Conversely, he had raised questions with the Strategic Investment Fund (ISF) for which the merger was "too risky".
Gilles Pelisson "very happy"
The announcement pleased the markets because at the Paris Bourse, the Accor share gains 2.40% to 42.29 euros in a market down by 2.75%. She also meets Gilles Pelisson, CEO of the group: "I am very happy," he said after the vote.It simply means that the split is an idea that has much meaning.
During the meeting, issues of Accor shareholders have not dealt with the proposed demerger, except on technical tax issues.
One of the two entities retain the name of hotel and Accor, and the other called Edenred, takes over the prepaid (Ticket Restaurant, Ticket-food, gift certificates, Kadéos, Cesu …). On July 2, the two entities will be listed on the Paris Bourse. Consequence: during a trading session, the CAC 40 will be 41 values, do so before qu'Edenred index on July 5.This separation was made possible by the extensive development of the service arm that has doubled in size in four years and can become autonomous, "said Gilles Pelisson, Accor's CEO.
Technically, the division will lead the purge of the old order book Accor shares at the end of the meeting on 1 July instant payday loan. Shareholders who wish to sell their securities or those who wish to buy must act before July 2.On Friday, the shareholders of the "old" Accor will receive one share of "new Accor" Edenred plus one share for one share of the "old" Accor held.
For the CGT, the group only wants to make money on the stock market "
If this decision was thus obtained a plebiscite among directors and shareholders in Accor, this is not the case with employee unions, who see the split as a "dismantling of the group." They fear that the sale of hotels – Accor is to sell 450 hotels in the coming years – should lose benefits to employees.
In an open letter to shareholders of the Accor group, wrote that the CGT split "plunge the company and its employees in difficulty.""This is not for the good of the company that the group is divided by two, but only to make money on the stock market," says Angel Romiti, Secretary General of the Federation of the SGC services. Accor aims to open 40,000 rooms per year in France.
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European markets should pause on Thursday after two sessions of sharp decline, which followed nine sessions of consecutive increase.
The CAC 40, which closed Wednesday were down 1.71% at 3641 points, due to start sitting up on Thursday, the CAC 40 index futures predicting a rise of 0.74%.
On Thursday morning, the euro is up 0.17% to 1.2333 dollars around 7:30 rating. The European currency resist despite lingering fears about the state of the economy of the Old Continent.
In an interview with Italian newspaper La Repubblica, Jean-Claude Trichet, ECB president, said it was unlikely that the risks of deflation to materialize in the euro area.
Employment on the radar screen
In France, INSEE unveil at 8:45 expenditure Household consumption of manufactured goods in MayAnd job center will provide 18 hours tonight the numbers of jobseekers registered.
In the euro area, new industrial orders in April will be known 11 hours.
In the U.S., at 14.30, the figures on durable goods orders in May are highly regarded, as usual. As the traditional weekly claims for unemployment benefits (same time).
Areva accrues $ 400 million more
The Group accrues 400 million euros more because of the further delay of the EPR. These delays have already cost the group 2.3 billion euros nuclear. And this new supply will cause the accounts into the red in the first half.
The Da Vinci company has signed an agreement for a proposed road tunnel in Vietnam, worth an estimated 600 million dollars.
Publicis Interpublic does not need to merge with Publicis, according to its CEO, Michael Roth.The fourth group in terms of global advertising revenues has been speculation about a possible merger with French group.
L'Oreal L'Oreal held yesterday, a presentation on New Markets, about their potential for growth, based on affordable innovations, development of new product categories and the acceleration of globalization. Natixis Securities appreciated and raised price target on the value of 92-97 euros.
The bank Societe Generale 4.9 billion calls to Jerome Kerviel. This sum is claimed as damages, the commitments of the former alleged fraudulent trader.
Vivendi, however, that without the word "relax" is heard, the prosecution did not request any penalty against former executives of Vivendi Universal.From the first day of the hearing, Jean-Marie Messier, former CEO, has expressed a mea culpa about its "excessive contact".
Casino New episode in the war of Nespresso. Nestle has obtained the high court in Paris to send bailiffs in Folliet and Vegeplast, the two suppliers to the manufacturer Casino pods compatible with Nespresso machines.
Air France-KLM 4,390 people have left the company without having been dismissed, by March 2013, according to an internal document quoted by La Tribune, on its website.
Compagnie des Alpes Compagnie des Alpes announced Thursday the launch of an increase in capital of approximately EUR 100 million with maintenance of preferential subscription rights.
The leisure group has also announced a refinancing of its debt in advance through long-term, secure the liquidity of the group for five years.He said in a position to make acquisitions.
Banks The president of the European Central Bank, Jean-Claude Trichet said in an interview published Thursday that the financial regulatory reforms are on track and that a number of important decisions are taken in November at the G20 summit.
TF1 elimination from the first round of the France squad will deprive TF1 more than ten million euros in revenue.
Oil drop
Crude prices have continued to drop Thursday (76.2 dollars) in electronic trading in Asia, driven by anxiety about U.S. demand, world's largest consumer.
The latest indicators of the U.S. Department of Energy showing an increase of two million barrels in crude stocks in the week concluded on June 18 have caused concern to investors, which projected a decline of one million barrels.The increase in crude inventories reported in effect a weakening demand.
Societe Generale on Wednesday asked the Criminal Court of Paris condemned his former trader Jerome Kerviel to pay 4.9 billion in damages in compensation for "injury" suffered in 2008.
"It is clear that Mr. Kerviel will not pay" such sum, said in his address one of three lawyers from the bank, Jean Veil.Mais amount is requested for the sake of "simplicity" and "understanding ", he said, adding that this sum represented only" a part "of the injury."You could charge interest, they could claim compensation for moral damage" also suffered, "he added.
The bank alleges that Jerome Kerviel, who faces further five years in prison and 375,000 euros in damages for having taken without his knowledge for tens of billions of dollars of speculative positions in financial markets, which resulted in January 2008 by a historic loss of 4.9 billion euros.
Jerome Kerviel, 33, disputes this analysis and refuses to take responsibility for this perte.Il says his superiors knew of his operations – what they denied in their testimony – and thinks he could have ultimately "chasing" if he had been given time paperless payday loans.
Under the old trader, the "unwinding" (liquidation) of the positions he had taken was done wrong at the wrong time, what still strongly disputed Mr. Veil. The bank was threatened, she had no choice, provided the lawyer.
Before Mr. Veil, François Martineau, another lawyer for the bank, explained that the "thesis of Jerome Kerviel" that Societe Generale "knew" what he was doing was "totally unbelievable. First, "why hide what is known? There is a major contradiction. Then, continued the lawyer, "he said, 'They let me win, and when I started losing I was arrested'."But, he said, "it began to lose in April 2007!" Redress the situation before the end of the year end 2007, then lost again in January 2008.
Martineau also recalled the "images" that have been raised since the beginning of this case: the "earthen pot against the iron pot," or "David against Goliath." But there are many, he said A victim who is the bank, and a "defendant" charged with three offenses of embezzlement, forgery and using false and fraudulent introduction of data into a computer system.
"It was a very important interview. Nicolas Sarkozy to thank you for coming. On Monday in Berlin, German Chancellor Angela Merkel wanted to put an end to persistent rumors of discord between France and Germany in the fight against financial crisis in Europe. During his joint press conference with French President in Berlin, Merkel stressed the need for both countries to give "impetus" to the European Union to "act operationally" and "the consequences of the crisis financial recovery '.
Determined to "speak with one voice", the two Heads of States announced it would set at G20 Toronto, the idea of a tax on financial transactions and a tax credit, " to be applied in the same way in France and Germany, "said Nicolas Sarkozy.
With Angela Mergel, the French president reiterated the need to strengthen the Pact of Stability and Growth. For the countries most lax sovereign debt, the two countries propose a penalty which would result in the suspension of their voting rights at the European Council. This proposal, which will be submitted to the European Council President Herman Van Rompuy, could lead to changes in the treaty which will be "in the near future," according to Angela Merkel.
A European economic government
Finally, Germany and France have discussed their desire to establish "an economic government of the 27" which would meet soon "on an operational and pragmatic." The two heads of states also want power, "in case of necessity, meet only the heads of only 16 states in the euro area. "There will be no country of first and second class.The idea is just to work quickly to problems concerning the euro area, "Angela Merkel stressed.
"Europe is not the most dynamic continent in contrast to the ambitions of the Lisbon Treaty. Do not create new institutions but to be more operational, has welcomed the Chancellor. Nicolas Sarkozy has reiterated his desire to "get out of ideological debates to make things happen quickly."
When asked about their respective visions rigors announced plans in both countries, Angela Merkel and Nicolas Sarkozy have remained elusive. The German Chancellor said that "Germany had done the right thing and not that France too." For its part, the French president spoke of "a matter of shared responsibility, trust and proximity.
Before the G20, Germany and France will defend their joint initiatives at the European Council meeting on Thursday.
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The "hole" becomes a chasm. The deficit in the general scheme of Social Security will reach 26.8 billion euros in 2010, having surpassed the 20 billion euros in 2009, according to a report by the Accounts Commission for Social Security (CCSS) is remit to the government on Wednesday said a source familiar with the matter told AFP. A figure to relate to a level of spending over 317 billion euros, all branches of the general scheme (health insurance, pensions, families, work accidents).
The prévisionde Commission, which will be corrected in September, is less than projected under the bill funding Social Security in September 2009. The official estimate then exceed the cap Pharaonic 30 billion deficit. An increase of over 7 billion euros to 30.6 billion.The figure of the CCSS is nevertheless an absolute record, while the social security deficit had doubled between 2008 (10.2 billion euros) and 2009 (20.3 billion).
In its report, the ACSH also believes the deficit of Old Age Solidarity Fund (FSV), whose mission includes the funding of the minimum age at 4.3 billion euros in 2010. Added to that the social security system, the total deficit of the general scheme could reach 31.1 billion euros this year, said the source familiar with the matter.
The weight of the crisis
In retail, insurance concentrates the largest share of the social security deficit and what, for the second consecutive year, with an estimated deficit of 13.1 billion euros.Then follow the branches pension deficits (9.3 billion), family (3.8 billion) and accidents (0.6 billion), according to the report of the CCSS.
In its battle against public deficits, President Nicolas Sarkozy recently announced a battery of measures to reduce the deficit to 6% of GDP in 2011, after 8% in 2010. Among these measures, the government has influenced its growth target of health insurance costs, which is now fixed at 2.9% in 2011 and 2.8% in 2012. "All measures necessary savings will be in place to comply strictly with the national healthcare expenditure (national goal of health insurance spending, ed), had then said the departments of Health and Budget in a joint statement.
Despite these initiatives, the economy weighed. The social security system is still shaken by the crisis.In 2009, the recession had hit hard the two main plates that fund the scheme: labor income (at half mast due to a decline in payroll) and income from capital (notably affected by the fall in transactions estate). And no hint of the HCMC upturn. In her report, she believes that 2010 will be continued in 2009. The "hole" of Social Security will continue to grow so brutal.
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