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Oil and poor data rein in Wall Street's gains
24 Feb 2006 source: ft.com

Wall Street ended a volatile week with a mixed performance on Friday as rising crude prices and continuing concerns about US interest rates reined in gains seen earlier in the week. // The Dow Jones Industrial Average closed down 0.1 per cent at 11,061.85 while the Nasdaq Composite gained 0.3 per cent to 2,287.04. The S&P 500, helped by sharp gains in energy stocks, rose 0.1 per cent to 1,289 ...


Dana Reportedly Taps Restructuring Adviser; Shares Skid
24 Feb 2006 source: morningstar.com

SAN FRANCISCO (Dow Jones) -- Dana Corp. shares extended their recent decline Friday, shedding as much as 29% and hitting a record low on reports that the embattled auto-parts maker has begun working with a restructuring adviser. But shortly after the open, the stock (DCN) rebounded from its all-time nadir of $2.25, trading lower by 19% at $2.56 after Prudential stepped in and upgraded shares to ...


BMW sells two thirds of stake in Rolls-Royce
24 Feb 2006 source: ft.com

BMW on Friday sold two thirds of its stake in Rolls-Royce, the aero engine manufacturer, drawing a line under the German carmaker's historic attempt to revive its aerospace business. BMW said it would record a €300m ($356m) non-cash gain from the sale, with the proceeds used to repay holders of a bond convertible into the shares.href="http://mwprices.ft.com/custom/ft-com/quotechartnews.asp?FTSite ...


Judge delays BlackBerry cutoff decision
24 Feb 2006 source: today.reuters.co.uk

By Peter Kaplan and John Crawley RICHMOND, Virginia (Reuters) - A U.S. judge on Friday stopped short of ordering an immediate shutdown of millions of BlackBerry devices, but reminded manufacturer Research In Motion Ltd. (RIM.TO: Quote, Profile, Research) (RIMM.O: Quote, Profile, Research) it had already been found to have infringed the patents of NTP Inc. U.S. District Judge James Spencer's delay in deciding on an injunction increased the pressure for an out-of-court settlement b ...


Judge delays decision on BlackBerry cutoff
24 Feb 2006 source: today.reuters.co.uk

By Peter Kaplan and John Crawley RICHMOND, Virginia (Reuters) - A U.S. judge on Friday stopped short of ordering an immediate shutdown of millions of BlackBerry portable e-mail devices, but reminded manufacturer Research In Motion Ltd. (RIM.TO: Quote, Profile, Research) (RIMM.O: Quote, Profile, Research) it had already been found to have infringed the patents of NTP Inc. U.S. District Judge James Spencer also expressed skepticism about RIM's argument that a BlackBerry shutdown would ...


CMS Energy Swings To Loss On Revalued Gas Contracts
24 Feb 2006 source: morningstar.com

SAN FRANCISCO (Dow Jones) -- Michigan power company CMS Energy Corp. reported a fourth-quarter loss Thursday, with the falling market value of natural-gas contracts and financial hedges undermining solid results turned in by its utility operations. Jackson, Mich.-based CMS (CMS) said that for the last three months of 2005 it had a net loss of $6 million, or 3 cents a share, reversing a net profit ...


THE RATINGS GAME: Keefe Bruyette Ups Profit Targets For Three Top Brokers ...
24 Feb 2006 source: morningstar.com

NEW YORK (Dow Jones) -- Analysts at Keefe Bruyette & Woods raised Thursday their first-quarter earnings estimates for Goldman Sachs, Bear Stearns and Lehman Brothers, citing robust capital-markets and investment-banking business. As for Morgan Stanley (MS) , the other large Wall Street firm reporing on a fiscal- rather than a calendar-year basis, the analysts lowered their estimate due to a ...


UPDATE: Lloyds Tops Forecasts As Wholesale Unit Shines
24 Feb 2006 source: morningstar.com

LONDON (Dow Jones) -- U.K. bank Lloyds TSB on Friday reported a 4% rise in profit, topping market forecasts, on a strong performance from wholesale and international banking and tight cost controls. The bank said 2005 profit attributable to shareholders rose 4% to 2.49 billion pounds ($4.36 billion). Pretax profit climbed 10% to 3.82 billion pounds as revenue net of insurance claims rose 9% to  ...


Turner to quit Time Warner board
24 Feb 2006 source: bbc.co.uk

CNN founder Ted Turner has announced he will not be seeking re-election to the board of US media giant Time Warner. Mr Turner said that "after much deliberation" he had decided to step down from the company's board. The media mogul created the CNN news channel as part of his Turner Broadcasting business, which he later sold to Time Warner. Mr Turner, who was Time Warner's vice chairman until 2003, said he would step down at the firm's next annual meeting. 'Media pioneer' Mr Turner remained  ...


FTSE boosted by strong results from WPP and Lloyds
24 Feb 2006 source: today.reuters.co.uk

By Keiron Henderson LONDON (Reuters) - The FTSE 100 index closed higher on Friday after strong results from advertiser WPP (WPP.L: Quote, Profile, Research) and bank group Lloyds TSB (LLOY.L: Quote, Profile, Research) , although miners fell after Lonmin (LMI.L: Quote, Profile, Research) said offer talks had ended. Midcap 250 stock Lonmin slid 7.9 percent after it said it was no longer in negotiations about a possible take-over, news which knocked Rio Tinto (RIO.L: Quote, Profile, Research)  ...


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