Market News

Weak Chinese manufacturing data and a drop in Asian stocks help send oil futures lower in electronic trade.

MADRID (MarketWatch) -- U.S. stock futures were under pressure ahead of the open of European markets on Thursday, as Japan's Nikkei Stock Average sank 7.3%, the biggest one-day plunge since March 2011. An extremely volatile session in Japan was spurred by a surge in bond yields in that country, mirroring action seen in the U.S. a day prior on worries the Federal Reserve could begin tapering its bond buys in the coming months. The Bank of Japan announced a fund-supplying operated in reaction to recent turbulence in the bond market. European stock markets were also setting up for heavy losses after U.S. stocks slid on reaction to testimony by Federal Reserve Chairman Ben Bernanke and minutes of the latest central-bank meeting. In addition, data from China showed manufacturing swinging to contraction. Futures for the Dow industrials fell 116 points, or 0.8%, to 15,181, while those for the Standard & Poor's 500 index fell 17.7 points, or 1%, to 1,637.90. Futures for the Nasdaq 100 index dropped 30 points, or 1%, to 2,971.

 

Co reports One-year data from an Italian multicenter randomized controlled trial of the IN.PACT Falcon drug-eluting balloon demonstrating positive and durable clinical results with the novel angioplasty device in the treatment of stenotic de novo lesions in small coronary arteries,The new data come from the BELLO (Balloon Elution and Late Loss Optimization) study, which enrolled 182 patients acros...

Co announces it has entered into an agreement to divest its Targeted Therapies business to BTG plc, an international specialist healthcare company based in London, for a cash purchase price of $200 mln. Net of cash taxes and transaction costs, Nordion expects to realize ~$185 mln on closing. The transaction is anticipated to be completed by the end of June 2013.

 

OTK Associates, the largest shareholder of Morgans Hotel Group with 13.9% of the outstanding common stock of the company, announces that it filed definitive proxy materials with the Securities and Exchange Commission in connection with OTK's seven nominees for election to the board of directors of Morgans at its upcoming annual meeting of stockholders on June 14, 2013. Additionally, OTK mailed a l...

 

Co announces it has finalized the purchase of certain tangible and intangible assets of Trinity WarrantyCo. Trinity, based in Lombard, Illinois, is a provider of warranty products and maintenance support to consumers and businesses in the heating, ventilation, air conditioning and refrigeration industry. The tangible and intangible assets of Trinity are being acquired for total consideration consi...

Co announces it has met with the FDA regarding the clinical development of Proellex-V, the vaginally administered product, in the treatment of uterine fibroids. The FDA recommended that a Phase 2b study should be conducted as a prelude to the Phase 3 program. During the meeting, Repros and the FDA agreed that: The primary indication and label for Proellex-V should be treatment of severe menstrua...