China's No.1 social network and online media company Tencent Holdings Ltd and developer Evergrande Real Estate Group joined forces to purchase Mascotte Holdings Ltd for $97 million, a 97 percent discount on the target company's market capitalisation. Tencent is likely to inject some of its newer businesses into the acquired listed company, hoping its...» Read More
NEW YORK-- Drug developer Intercept Pharmaceuticals Inc. said Thursday its initial public offering of 5 million shares priced at $15 per share, at the high end of the company's expectations. Intercept had planned to sell 4.3 million shares and said they would start trading at $13 to $15 per share.
*Deal could be for $600 mln- $800 mln- India's Economic Times. *Cooper Tire shares jump as much as 11 pct. Shares of Cooper Tire, which had a market value of about $1.2 billion as of Wednesday's close, jumped as much as 11 percent on the New York Stock Exchange on Thursday, bringing the gain so far this year to about 45 percent.
*Susquehanna cuts Informatica Corp price target to $28 from $33;. Reuters Station users, click. 1568. Reuters Station users, click. 4899.
LINCOLN, Neb.-- Pinnacle Bank has announced a deal to buy Hastings State Bank. The Hastings bank deal is the second in two days for Pinnacle Bank. Pinnacle Bank is part of Pinnacle Bancorp, which is based in Omaha.
WASHINGTON, Oct 11- Activist investor fund Third Point has won U.S. antitrust approval to buy an unspecified stake in Murphy Oil Corp, the Federal Trade Commission said on Thursday.
A report released Thursday by Irvine, Calif.- based RealtyTrac shows Illinois with 42,176 foreclosure filings from July through September. On a monthly basis, Illinois foreclosures dropped 20 percent in September compared to August. Arizona and California also have foreclosure rates higher than Illinois.
SIOUX CITY, Iowa-- The developer of a Hard Rock-themed casino has gotten support from the nonprofit Missouri River Historical Development board to build a casino and entertainment center near the Missouri River in Sioux City, Iowa. Warner and the board must obtain a license from the Iowa Racing and Gaming Commission.
NEW YORK, Oct 11- DBRS reaffirmed the United States top AAA credit rating on Thursday, citing the economy's productivity and flexibility, but said failure to stabilize a growing debt burden could threaten the rating in the future.
Oct 11- The Hartford Financial Services Group Inc:. *S&P Capital IQ raises Hartford Financial Services price target by $2. Reuters Station users, click. 1568.
*Rating cut on Spain cushions bonds' price drop. NEW YORK, Oct 11- U.S. government debt prices fell on Thursday as traders sought to lower prices before a $13 billion auction of 30- year supply and encouraging data on jobless claims reduced safe-haven demand for bonds.
COMPANIES REPORTING: Q3 2012 JPMorgan Chase& Co. Q3 2012 Wells Fargo MAJOR MACROECONOMIC DATA/EVENTS: 0800 IT Consumer prices Sep 0900 EZ Industrial production Aug 1230 US Producer prices Sep 1355 US Mich sentiment, conditions prelims Oct 1800 US Federal budget Sep Reuters messaging rm:// email@example.com.
NAIROBI, Oct 11- The weighted average yield on benchmark Kenyan 91- day Treasury bills rose for the fourth straight week to 8.962 percent at the auction on Thursday, from 8.439 percent last week, the central bank said.
Oct 11- Taylor Devices Inc:. *Announces strong first quarter results. *Q1 sales $7.3 million* Q1 earnings per share $0.18* Source text* Further company coverage.
*TD Securities raises Sun Life Financial price target to C $28 from. *TD Securities raises Manulife Financial price target to C $15 from. *TD Securities raises Industrial Alliance price target to C $28 from.
*Turkey, Syria fighting stokes concern over Mideast supply. LONDON, Oct 11- Brent crude oil reached its highest in a month on Thursday, lifted by escalating tension between Syria and Turkey, maintenance in the North Sea and a supply crunch in oil products.
*Sprint, Clearwire soar in early trade, MetroPCS sinks. TOKYO/ NEW YORK, Oct 11- Japanese mobile carrier Softbank Corp is in talks to buy a majority stake in U.S. operator Sprint Nextel Corp for more than 1 trillion yen, according to a source with direct knowledge of the matter, adding yet another potential shake-up to the fast-changing U.S. wireless market.
*Announces $125 million subordinated debt offering. *To use proceeds, existing cash resources, to redeem all $243.8 million of. preferred stock issued to treasury under tarp.
*Sandler O'Neill raises PrivateBancorp to buy For a summary of rating and price target changes on U.S. companies:. Reuters Station users, click. 1568. Reuters Station users, click. 4899.
THE BOTTOM LINE: Safeway Inc. said its net income rose 21 percent in the third quarter, boosted by the sale of its Genuardi's stores.
Oct 11- Safeway Inc, the second-largest U.S. supermarket chain, reported quarterly sales that missed Wall Street's view, and its shares fell nearly 5 percent. Traditional grocers like Safeway and Kroger Co are fighting for every sale amid tough competition from Wal-Mart Stores Inc and other retailers.