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BP releasing report on gulf well blowout - Washington Post

msnbc.com BP releasing report on gulf well blowoutWashington PostOil giant BP is releasing a massive internal report Wednesday morning on the cause, or causes, of the April 20 blowout that killed 11 workers, sank the Deepwater Horizon drilling rig and led to the largest oil spill in US history. ...Text of BP Statement on Gulf AccidentWall Street JournalBP Set to Publish Report on Oil Spill Rig BlastABC News

U.S. Dollar Loses Ground Ahead of Fed Beige Book

The greenback weakened across the board, with the EUR/USD paring the sharp decline from the previous day to reach a high of 1.2732 during the overnight trade, and the reserve currency is likely to face increased volatility throughout the day as the Federal Reserve is scheduled to release its Beige Book Economic report at 18:00 GMT.

Mercedes-Benz India Car Sales Surge

The Indian unit of German luxury car maker Daimler said car sales in August more than doubled, driven by the introduction of the new E-Class and C-Class sedans.

Managers Named for Woori Finance Sale

South Korea named three firms to manage the sale of its 57% stake in Woori Finance, valued at $5.09 billion, in a move to push forward the privatization of the country's largest financial holding company.

Prison Attack Frees Nigeria Extremists

About 800 inmates escaped from a prison holding Muslim extremists in Nigeria during a sunset attack by gunmen who are believed to be members of a radical sect.

Asian Forex Reserves Hit Record

Reserves held by 11 Asian central banks, excluding China's, amounted to $2.875 trillion at the end of August, up from $2.861 trillion at the end of July, a 0.5% rise.

Foster's Rejects Bid for Wine Unit

Foster's rejected a cash offer for its wine business from a private equity firm and instead is pushing ahead with a demerger of its beer and wine divisions.

Witness: Philippine Leader Ordered Killings

A house servant of the politically powerful clan accused in last year's massacre of 57 people told a Philippine court that the family plotted the killings six days before the ambush.

Divided by a Two-Track Economy

For American business, it's a two track economy, with global players getting big boosts from fast-growing foreign markets, while companies focused on the U.S. are hemmed in by recession-scarred consumers.

Forex Technical and Fundamental Forecasts for September

EURUSD: Euro US Dollar Exchange Rate Forecast
USDJPY: US Dollar Japanese Yen Exchange Rate Forecast
GBPUSD: British Pound US Dollar Exchange Rate Forecast
USDCHF: US Dollar Swiss Franc Exchange Rate Forecast
USDCAD: US Dollar Canadian Dollar Exchange Rate Forecast
AUDUSD: Australian Dollar US Dollar Exchange Rate Forecast
NZDUSD: New Zealand Dollar US Dollar Exchange Rate Forecast

Acorda Therapeutics upgraded to "outperform"

NEW YORK, September 7 (newratings.com) - Analysts at Robert W Baird upgrade Acorda Therapeutics Inc (ticker: ACOR) from "neutral" to "outperform." The target price is set to $40. [more]

Cymer downgraded to "equal weight"

NEW YORK, September 7 (newratings.com) - Analysts at Barclays Capital downgrade Cymer (ticker: CYMI) from "overweight" to "equal weight." The target price has been reduced from $42 to $30. [more]

LTX-Credence downgraded to "equal weight"

NEW YORK, September 7 (newratings.com) - Analysts at Barclays Capital downgrade LTX-Credence (ticker: LTXC) from "overweight" to "equal weight." The target price is set to $4. [more]

KLA-Tencor downgraded to "equal weight"

NEW YORK, September 7 (newratings.com) - Analysts at Barclays Capital downgrade KLA-Tencor (ticker: KLAC) from "overweight" to "equal weight." The target price has been reduced from $45 to $30. [more]

Werner Enterprises upgraded to "buy"

NEW YORK, September 7 (newratings.com) - Analysts at Stifel Nicolaus & Company upgrade Werner Enterprises (ticker: WERN) from "hold" to "buy." The target price is set to $28. [more]

Pacer International upgraded to "buy"

NEW YORK, September 7 (newratings.com) - Analysts at Stifel Nicolaus & Company upgrade Pacer International (ticker: PACR) from "hold" to "buy." The target price is set to $8. [more]

Landstar System upgraded to "buy"

NEW YORK, September 7 (newratings.com) - Analysts at Stifel Nicolaus & Company upgrade Landstar System (ticker: LSTR) from "hold" to "buy." The target price is set to $51. [more]

Hub Group upgraded to "buy"

NEW YORK, September 7 (newratings.com) - Analysts at Stifel Nicolaus & Company upgrade Hub Group Inc (ticker: HUBG) from "hold" to "buy." The target price is set to $38. [more]

Heartland Express upgraded to "buy"

NEW YORK, September 7 (newratings.com) - Analysts at Stifel Nicolaus & Company upgrade Heartland Express (ticker: HTLD) from "hold" to "buy." The target price is set to $19. [more]

NiSource downgraded to "hold"

NEW YORK, September 7 (newratings.com) - Analysts at KeyBanc Capital Markets downgrade NiSource (ticker: NI) from "buy" to "hold." [more]

The Real Lesson Of Labor Day

Welcome to the worst Labor Day in the memory of most Americans. Organized labor is down to about 7 percent of the private work force. Members of non-organized labor — most of the rest of us — are unemployed, underemployed or underwater. The Labor Department reported on Friday that just 67,000 new private-sector jobs were created in August, which, when added to the loss of public-sector (mostly temporary Census worker jobs) resulted in a net loss of over 50,000 jobs for the month. But at … [visit site to read more]

VeriFone Acquires WAY Systems

VeriFone Systems Inc. (NYSE:PAY) recently announced its acquisition of the assets of WAY Systems Inc. for $6 million. The purchase price also includes an earn-out of up to an additional $3 million payable in one year subject to certain targeted performances.
Founded in 2002, WAY Systems provides mobile Point of Sale (POS) solutions and gateway services for mobile merchants. The company was founded by Bill Merton, founder of VeriFone, with initial seed capital and received an additional $50 … [visit site to read more]

Cepheid’s TB Test Shows Promise

A study regarding Cepheid’s (NASDAQ:CPHD) Xpert MTB/RIF test, which is meant for the detection of tuberculosis (TB), was published in the latest edition of the New England Journal of Medicine. The study was aimed at comparing the sensitivity and specificity of the Xpert MTB/RIF with the standard currently used. Apart from the detection of TB, the study is also meant to identify if the disease is resistant to rifampin, a first-line drug used for the treatment.
The study was conducted with 1,730 TB … [visit site to read more]

WPP Group Upgraded

We have upgraded our rating for WPP Group Plc (NASDAQ:WPPGY) from Underperform to Neutral based on a positive outlook for the second half of 2010.

First Half 2010 Highlights

WPP Group plc’s first half 2010 net results soared 48.1% year over year to ?0.191 per share ($1.46 per ADR) compared with ?0.129 per share ($0.96 per ADR) in the year-ago period – a marked improvement owing primarily to revenue growth and fall in operating expenses.

Net income (pro forma), … [visit site to read more]

Not Buying ‘the Light At The End Of The Tunnel’ Scenario

I’ve highlighted news and other reports indicating that conditions on Main Street are far worse than your average Wall Streeter believes they are. Interestingly enough, even those who are ostensibly benefiting from the bullish-Kool-Aid-induced euphoria that’s keeping share prices afloat are pessimistic about the outlook.
In “Show Me the Recovery,” CFO.com highlights an analysis that suggests corporate America isn’t buying “the light at the end of the tunnel” scenario.
While U.S. companies … [visit site to read more]

Hot Stock Option Plays For Friday 3 September: Tyson Foods, The Blackstone Group, Collective Brands, SPDR S&P Retail ETF

Tyson Foods, Inc. (NYSE:TSN) – Call options on the food products company are a hot commodity this morning for bullish players positioning for a near-term rally in the price of the underlying shares. Tyson Foods’ shares rallied as much as 1.7% at the start of the session to an intraday high of $16.31. Shares of the producer and distributor of chicken, beef, pork, prepared foods and other products are perhaps higher following an upgrade to Ba2 from Ba3 by ratings agency, Moody’s Investors … [visit site to read more]

New Contract Lifts Air Products

Shares of Air Products and Chemicals Inc. (NYSE:APD) advanced 3.26% or $2.44 and closed at $77.19 on September 2, 2010 after the announcement that the company has won a 15-year contract. Under the contract, Air Products will supply an onsite air separation unit to Voronezhsintezkauchuk, an affiliate of SIBUR, which is a leading petrochemical company in Russia and Eastern Europe. The air separation unit is scheduled to come on stream in 2012 with a capacity up to 3,000 cubic meters per hour of … [visit site to read more]

OMAB Begins New Terminal Operation

Mexican airport operator, Grupo Aeroportuario del Centro Norte, S.A.B. de C.V. (NASDAQ:OMAB) began operation at its new Terminal B at Monterrey International Airport, where Aeromexico and Aeromexico Connect were the first to operate flights. Later in September, the company is expected to start Delta Airlines and Northwest.

The new terminal would definitely help increase passenger traffic as it has the capacity to accommodate approximately two million passengers annually and has platform for … [visit site to read more]

Goldcorp Heading For Andean

Goldcorp Inc. (NYSE:GG), the leading Canadian gold producer is acquiring the Australian gold miner Andean Resources Ltd for a total consideration of C$3.6 billion (US $3.4 billion) along with its key assets including Cerro Negro gold project in Argentina. Currently, the company has resources of 2.54 million ounces of gold and 23.56 million ounces of silver. Goldcorp believes that the acquisition of Cerro Negro that has substantial expansion potential would compliment its high-growth and a low-cost … [visit site to read more]

Allscripts Merges With Eclipsys

Allscripts Healthcare Solutions Inc. (NASDAQ:MDRX), a leading vendor focused on healthcare information technology, has announced the completion of its merger with peer Eclipsys Corporation. The combined organization will focus on empowering providers collaborate through connected healthcare communities, thereby providing enhanced care and controlling cost.

Allscripts had adjusted revenues of about $1.2 billion in fiscal year 2009. It markets a composite offering of clinical, financial and … [visit site to read more]