Monthly Archives: September 2015

Microsoft to Open Fifth Avenue Store in October

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Year-To-Date Winners: We Have Found The Market And It's Apple

APPLE – THE BEST OPPORTUNITY EVER?

I SEE APPLE GOING BACK ABOVE $300, SOONER RATHER THAN LATER






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Apple TV’s Surprisingly Cool Solution For Media Search Is Almost Here

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Year-To-Date Winners: We Have Found The Market And It's Apple

APPLE – THE BEST OPPORTUNITY EVER?

I SEE APPLE GOING BACK ABOVE $300, SOONER RATHER THAN LATER






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Microsoft and Google call truce in patent wars

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My 2014 Best Performers, Looking Ahead To 2015






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Phillips 66, Energy Transfer and Sunoco Logistics Commence Binding Expansion Open Season for Bayou Bridge Pipeline

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A Survey Of My Side Of The Oil Patch

Is Kayne Anderson The Best MLP Play Right Now?

[Business Wire] – Bayou Bridge Pipeline, LLC announces the launch of a binding expansion open season to assess additional interest in transportation service from Nederland, Texas, to refining markets in Louisiana on the Bayou Bridge Pipeline .






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‘Splosion Man’ developer Twisted Pixel is leaving Microsoft

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My 2014 Best Performers, Looking Ahead To 2015






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Asian equities get a lift from Wall Street rally

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Asian equities followed Wall Street higher early Thursday, but caution remained the overall sentiment ahead of the release of key data from around the region.

The tech-heavy Nasdaq Composite led gains with a jump of 2.3 percent overnight, while the Dow Jones Industrial Average and the S&P 500 closed up 15 and 1.9 percent respectively, following a rally in global markets.

Ahead of the market open, the Bank of Japan‘s quarterly tankan survey showed the country’s large manufacturers less optimistic than expected.

The large manufacturers’ index for the September quarter stood at positive 12, compared with expectations in a Reuters poll for a positive 13. In the previous three months, the key large manufacturers’ index came in at 15 – its highest level since March 2014.

For the December figures, the index was forecast at positive 10, in line with a Reuters poll.

“The BOJ [should be] pretty happy with these results. The deterioration in business sentiment was fully expected and it seems that the BOJ seems to have written off investor production and exports, at least in the near term so that’s not the real surprise,” HSBC’s Japan economist Izumi Devalier told CNBC. “I think they will focus more on the relatively strong non-manufacturing number which they think is more important for Japan’s labor market developments, and the capex numbers [which] are very positive as well.”

Read MoreJack Ma to US: Quit worrying so much about China

Attention will also fall on the readings of China’s mammoth manufacturing sector, after a preliminary figure published last Wednesday painted a worrying picture of the economy. The preliminary Caixin China manufacturing purchasing managers’ index touched a six-and-half-year low of 47.0 in September.

The official manufacturing purchasing managers’ index (PMI), scheduled for release at 9am local time, came in at 49.8, beating expectations of 49.6 and compared with 49.7 in August. The final Caixin/Markit PMI, due 45 minutes later, will likely come in at 47.0, in line with the flash estimate, National Australia Bank‘s note said early Thursday.

Meanwhile, South Korea’s exports, due at 9am local time, will likely remain dire due to lackluster demand, particularly from China, according to a Reuters poll.

The survey of 17 analysts expect exports to decline 10 percent in September from a year ago, compared to a 14.9 percent tumble in the preceding month that marked the worst year-on-year fall in six years. Imports are forecast to plunge 18.1 percent on-year in September, slightly below August’s 18.3 percent fall, the poll by the newswire found.

Thursday also brings August industrial output, which likely decreased 1.1 percent on-month in August due to fewer working days and poor export performance for the month, economists told Reuters.

Nikkei gains 0.3%

Japan’s Nikkei 225 index continued on its up-climb, after rising 2.7 percent on Wednesday.

Among gainers, heavyweight components SoftBank and Fanuc gained more than 2 percent each. Banking shares also gained ground, with Sumitomo Mitsui Financial Group and Mitsubishi UFJ Financial Group climbing nearly 2 percent each.

Nikon led gains among exporters, up 3 percent in early trade, while Panasonic and Sony rose 2.2 and 2.7 percent respectively.

ASX rises 0.8%

Australia’s S&P ASX 200 index headed north amid a broad-based rise.

Shares of Australia and New Zealand Banking (ANZ) elevated 0.8 percent, after the lender announced that Shayne Elliott will replace Mike Smith as chief executive officer from January 2016. Elliott currently serves as ANZ’s chief financial officer. Other major lenders rose between 0.6 and 0.7 percent.

Market bellwether BHP Billiton notched up 0.5 percent, mirroring the rise in its U.S. ADRs. In the energy sector, Santos and Woodside Petroleum advanced 1.8 and 1 percent respectively.

Shares in copper miner Oz Minerals jumped as much as 14 percent on Thursday after an unsourced media report said U.S. private equity giant KKR & Co was attempting to buy a 10 percent stake.

Bucking the strength, Newcrest Mining declined 0.6 percent after prices of the precious metal hit its lowest level in two weeks on Wednesday.

Kospi adds 0.3%

South Korea’s Kospi index swung between gains and losses in early trade.

The bourse’s top weighted stock Samsung Electronics sagged 0.8 percent, while other tech names such as LG Electronics and LG Display eased nearly 1 percent each.

Other blue chips such as Hyundai Motor and Posco helped to offset losses by nudging up 0.3 and 0.9 percent respectively.

Meanwhile, China begins its week-long National Day holiday today.

 





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KKR Raises Stake in OZ Minerals Amid Commodities Market Turmoil

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KKR & Co., the private equity firm run by billionaires Henry Kravis and George Roberts, raised its stake in OZ Minerals Ltd., owner of Australia’s biggest undeveloped copper deposit, seizing on a commodities rout that’s sent prices tumbling.

Adelaide-based OZ Minerals soared as much as 14 percent in Sydney trading, the most since Jan. 15, 2014, and traded at A$3.69 at 10:28 am. A block trade in 14.75 million shares crossed earlier at a price of A$3.60. That’s equivalent to a stake of about 4.9 percent and a 9 percent premium to Wednesday’s close, according to Bloomberg calculations.

“We thought it was a good time to accumulate exposure to OZ Minerals shares given the environment,” Steven R. Okun, public affairs director at KKR Asia Pacific said Thursday in an e-mailed statement. KKR has been successful in seeking a 10 percent interest OZ Minerals, he said.

 





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Australia’s Oz Minerals shares soar on speculation KKR could up stake

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SYDNEY, Oct 1 (Reuters) – Shares in Australian copper miner Oz Minerals Ltd jumped as much as 14 percent on Thursday after an unsourced media report said U.S. private equity giant KKR & Co LP was attempting to buy a 10 percent stake.

The stock rose as high as A$3.77, its biggest jump since January 2014 and its highest intraday level in nearly a month, after the Australian Financial Review reported that KKR was planning the share raid at A$3.60 per share.

The article also said that KKR already has a stake of about 5 percent in the company, which in 2009 had an attempted takeover by state-owned enterprise China Minmetals Corp blocked by the Australian government.

Oz Minerals said in a statement it was aware of the media speculation but declined comment. Deutsche Bank, which the report said was advising KKR on the attempted purchase, did not immediately respond to a request for comment.

Shares in many Australian mining companies have plunged this year as commodity prices sink on slowing economic growth in top trading partner China. Before the media report, Oz Minerals shares had fallen by a third since a peak in May.

(Reporting by Byron Kaye; Editing by Joseph Radford)

 





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GE Strikes Two Deals to Sell Railcar Operations

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Twitter founder Dorsey to be CEO?

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Year-To-Date Winners: We Have Found The Market And It's Apple

APPLE – THE BEST OPPORTUNITY EVER?

I SEE APPLE GOING BACK ABOVE $300, SOONER RATHER THAN LATER

Twitter may be about to end its three-month search for a new CEO where it started: with once-ousted co-founder Jack Dorsey running the short-messaging service.

Dorsey will soon be named Twitter’s permanent CEO, possibly as early as Thursday US time, according to the technology news site Re/Code. The report cited unnamed people.

Twitter declined to comment.

Dorsey took over as Twitter’s interim CEO in July, replacing former stand-up comedian and veteran entrepreneur Dick Costolo. The change in command came amid slowing user growth that exacerbated investor concerns about the Twitter’s ability to become more accessible to a wider audience.

Twitter has more than 300 million users, far behind the 1.5 billion people hooked on Facebook’s online social network. Even Facebook’s photo-sharing application, Instagram, has surpassed Twitter in size.

Worries about Twitter’s future have been compounded by the San Francisco company’s inability to turn a profit more than nine years after its inception, even though its revenue has been steadily rising. Shortly after becoming interim CEO, Dorsey acknowledged Twitter’s sub-par performance during a review of the company’s disappointing second-quarter results.

The qualms about Twitter’s future have sunk its stock, which has fallen by nearly 50 per cent since late April. The shares rallied after Re/Code’s report came out to gain $US1.35, or more than five per cent, closing Wednesday at $US26.94 in an apparent vote of confidence in Dorsey.

If Dorsey is anointed as CEO, it would mark his second reign at the company that he helped start in 2006. He was Twitter’s original CEO until being cast aside in 2008 in a coup engineered by another company co-founder, Evan Williams.

Dorsey, 38, remained Twitter’s chairman and one of its largest shareholders with a 3.0 per cent stake currently worth about $US600 million ($A855.31 million). He returned as a company adviser shortly after Costolo replaced Williams as Twitter’s chief executive in 2010.

A decision to hire Dorsey also might represent an about-face for Twitter’s board, which headed into its search for a full-time CEO pledging to only consider candidates who could make a “full-time commitment” to the company.

Dorsey is also CEO of mobile payment service Square, a job he has repeatedly said he intends to keep as he prepares to take that San Francisco company public too.

The headquarters of Twitter and Square are located a block from each other, making it more convenient to shuttle back and forth between the two companies.

If Dorsey becomes CEO of two companies simultaneously, it would draw parallels to Apple co-founder Steve Jobs – a comparison that Dorsey has never discouraged.

After being ousted from Apple in the mid-1980s, Jobs came back as the company’s interim CEO in 1997 and then stayed on to oversee the creation of the iPod, iPhone and iPad.

While running Apple, Jobs also was CEO of computer animation pioneer Pixar until the company was sold to Disney in 2006.






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