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Stocks in the News
Focus Firm ? Altria (MO)
Altria shares declined 3.61, or 4.4%, to 78.71
(Wall Street Journal Online
September 25, 2006)
Altria shares declined 3.61, or 4.4%, to 78.71 after a U.S. federal court judge granted class-action status to a lawsuit against the company's Philip Morris USA unit and other companies. The case is being watched for any implications it could have on the company's plans to spin off its 88% stake in Kraft Foods, which was flat at 34.25. The timing of the spin off hasn't yet been announced. However, some suspect Altria's board is waiting on litigation before going ahead with its corporate restructuring plans.
Our Choice ? LSE, Icap Break Off
Earlier Merger Talks
(Wall Street Journal Online
September 25, 2006)
London Stock Exchange PLC and Icap PLC, the world's largest interdealer broker, held and broke off merger talks. The LSE has been looking at ways it can defend itself from a widely expected bid from NASDAQ Stock Market Inc.. As of Oct. 2, Nasdaq will be free under United Kingdom takeover rules to bid for the rest of the London Stock Exchange it doesn't own, following its acquisition of a 25.3% stake earlier this year. A merger between the two would create a £5.9 billion ($11.2 billion) firm combining the LSE's equity market and Icap's business in derivatives, fixed income and energy broking.
Strategies/asset Class insights
MarketBeat: Which Way?
(Wall Street Journal Online
September 26, 2006)
Yields on Treasury securities have dropped sharply in recent weeks in anticipation of declining inflation and a slower pace of economic growth. The all-important yield curve -- the spread between 3-month Treasury bills and 10-yea ...