Posts
Severe delinquencies on business loans rose to 0.91% in November from 0.87% in October, reported PayNet Inc. today, marking the 22nd consecutive monthly increase in loans unlikely to be paid. Moderate delinquencies rose to 4.33% from 4.19%. In a small sign of improvement, the Small Business Lending Index fell just 11% year-over-year, the smallest decline in the index since the recession began.
Kraft Ups Bid For Cadbury.
Kraft (KFT) is reportedly planning to improve its hostile £10B offer for Cadbury (CBY) in the next two weeks. Kraft has a Jan. 19 deadline to lock in its offer. After the deadline, Kraft will only be allowed to raise its bid if there's a rival offer.
Novartis buys Alcon.
Novartis (NVS) announced it will buy the rest of eye-care giant Alcon (ACL) from Nestle (NSRGY) and minority shareholders for around $39.3B. Nestle will sell its 52% stake for an average of $180 per share. Novartis is offering 2.8 of its own shares for each Alcon share held by the public (valuing Alcon at approximately $153 per share).
The Mosaic Company (MOS) will report earnings today. Analyst estimates are $0.35 per share.
Economic data to be reported today are Construction Spending (Nov.) and ISM Index (Dec).
• Futures: Dow +0.5%. S&P +0.7%. Nasdaq +1.1%. Crude +1.8% to $80.82. Gold +2.1% to $1118.50.
• In Asia, Nikkei +1% to 10,655 (a 15-month closing high). Hang Seng -0.2% to 21,823. BSE +0.5% to 17,559. Shanghai closed.
• In Europe at midday, London +0.7%. Paris +1.1%. Frankfurt +0.7%.
No comments:
Post a Comment