MARKET TALK: Orthopedic Sector Slumps As Clouds Darken
21st Jul 2010 16:21
11:21 (Dow Jones) Orthopedics sector is having a rough day after 2Q reports from Stryker (SYK) and Johnson & Johnson (JNJ) indicated recovery in market for replacement joints, which was hurt by deferred procedures during recession, may be hitting fresh speed bumps. SYK off 7.7% to $47.36. Among comp
Read moreFTSE 100 movers: Footsie rises on the back of strong miners
21st Jul 2010 15:54
Mining stocks lead the surge in the Footsie as copper inventories continue to decline. Antofagasta has closed its deal to acquire 40% of Duluth Metals' Nokomis copper-nickel-platinum group metal deposit in north eastern Minnesota, US. Antofagasta has to fund $130m of spending over three years. K
Read moreLondon afternoon: Three-digit gain for Footsie
21st Jul 2010 14:10
Footsie's gain burst through the triple digit barrier over the lunchtime session, helped by expectations of a solid start by Wall Street. Mining stocks lead the advance as copper inventories continue to contract, with Kazakhmys, Antofagasta, Vedanta and Xstrata at the head of the pack. Sticking
Read moreLondon midday: Glaxo sales in line
21st Jul 2010 12:05
Equities ended the morning session in consolidation mode, holding on to the gains racked up in the first two hours of trading, when traders were enthused by the Reckitt Benckiser bid for SSL and forecast busting results overnight from Apple. Reckitt will pay SSL shareholders 1,163p per share with a
Read moreCitigroup Placing 8M Smith & Nephew Shares At 559p - Traders
21st Jul 2010 10:07
By Andrea Tryphonides Of DOW JONES NEWSWIRES LONDON (Dow Jones)--Citigroup Inc. (C) began placing 8 million shares in medical devices developer Smith & Nephew PLC (SN.LN) Wednesday, according to several London-based traders. Traders said the placing is being conducted at a price of 559 p
Read moreLondon open: Bids spur Footsie higher
21st Jul 2010 08:53
Buyers are scrambling to find anything with the slightest chance of being bid for after Reckitt Benckiser snapped up SSL this morning for £2.5bn. Footsie is up by nearly 80 points so far with only Lonmin and Smith & Nephew in red numbers. Reckitt's bid for SSL is a deal that had been rumoured for
Read moreLondon close: Footsie rises again after strong week
9th Jul 2010 17:07
Footsie finished a very good week on the up again, helped by gains for the miners, life groups and Smith & Nephew. Antofagasta was the stand-out stock in the mining sector after Goldman Sachs issued a "buy" recommendation. Goldman Sach also advocates buying Anglo American ahead of an expected adv
Read moreMARKET TALK: Investec Cuts Smith & Nephew Price Target
6th Jul 2010 12:42
1142 GMT [Dow Jones] Investec Securities cuts Smith & Nephew (SN.LN) price target to 630p from 757p. Investec lowers the PER it uses to value the shares to 13x from 15x, to reflect changing market conditions. It notes recent downgrades, combined with weak market conditions have led to Smith & Nephew
Read moreUK MARKET TALK ROUNDUP: BROKERS COMMENTS
6th Jul 2010 12:42
Broker comments in the UK today. Compiled by Dow Jones Newswires Markets Desk, [email protected] Contact us in London. +44-20-7842-9464 [email protected] 1142 GMT [Dow Jones] Investec Securities cuts Smith & Nephew (SN.LN) price target to 630p from 757p. Investec lowers the PER
Read moreMARKET TALK: UBS Cuts Smith & Nephew Price Target, EPS
5th Jul 2010 09:04
0804 GMT [Dow Jones] UBS cuts Smith & Nephew (SN.LN) price target to 730p from 760p, citing currency headwinds. Says continuing economic uncertainty will likely see the management taking a cautious stance on its sales outlook in '10. Cuts its '10 EPS estimate to $69.23 from $70.52, and '11 EPS estim
Read moreUK MARKET TALK ROUNDUP: BROKERS COMMENTS
5th Jul 2010 09:04
Broker comments in the UK today. Compiled by Dow Jones Newswires Markets Desk, [email protected] Contact us in London. +44-20-7842-9464 [email protected] 0804 GMT [Dow Jones] UBS cuts Smith & Nephew (SN.LN) price target to 730p from 760p, citing currency headwinds. Says continui
Read moreUK MARKET TALK ROUNDUP: BROKERS COMMENTS
2nd Jul 2010 15:24
Broker comments in the UK today. Compiled by Dow Jones Newswires Markets Desk, [email protected] Contact us in London. +44-20-7842-9464 [email protected] 1424 GMT [Dow Jones] Smith & Nephew (SN.LN) shares -5.1% at 584p, with traders citing a note by JPMorgan Thursday in which th
Read moreMARKET TALK: Smith & Nephew Lower; JPMorgan Forecast Cut Cited
2nd Jul 2010 15:24
1424 GMT [Dow Jones] Smith & Nephew (SN.LN) shares -5.1% at 584p, with traders citing a note by JPMorgan Thursday in which the brokerage downgrades its forecasts for the company due to currency headwinds. JPM cut its '10 EPS estimate to $0.66 from $0.70 and its '11 EPS estimate to $0.77 from $0.79 t
Read moreUK MARKET TALK ROUNDUP: SHARES LOSING
2nd Jul 2010 14:42
Stocks on the fall in the UK today. Compiled by Dow Jones Newswires Markets Desk, [email protected] Contact us in London. +44-20-7842-9464 [email protected] 1342 GMT [Dow Jones] Smith & Nephew (SN.LN) -5.3% at 583p, on market speculation that it is guiding analysts lower ahead o
Read moreMARKET TALK: Smith & Nephew Dips On Results Chatter
2nd Jul 2010 14:42
1342 GMT [Dow Jones] Smith & Nephew (SN.LN) -5.3% at 583p, on market speculation that it is guiding analysts lower ahead of the 2Q results due in August. One trader notes that the volumes are strong, exceeding the 2.9M average. Thinks though the selling looks overdone as the company's earnings impro
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