ERICSSON 1Q REVENUE UP 25%, MARGINS DOWN ON MARCONI
Shares down nearly 4% as Swedish telecoms equipment vendor reports solid 1Q revenue growth of 25% to SEK39.2 billion but weaker operating margins as integration of its recently acquired Marconi assets and efforts to gain new business take their toll. Net profit declines 0.9% to SEK4.58 billion from SEK4.61 billion a year ago. Analysts had forecast net profit of SEK5.3 billion and revenues of SEK39.1 billion.
EBAY TALKS TO MICROSOFT, YAHOO ABOUT GOOGLE
EBay is talking to both Yahoo and Microsoft to determine whether one of them might be a worthy ally against a common threat: Google. Yesterday, Google reported higher-than-expected 1Q earnings.
WPP 1Q REV UP 23% ON EMERGING MARKETS, US
Shares down nearly 3% after WPP says strong growth in Latin America, the Middle East and Africa along with a robust U.S. economy boost revenues for 1Q of 2006 by 23% to GBP1.37 billion, compared with GBP1.11 billion a year earlier.
PETROHAWK TO BUY KCS IN $1.6B DEAL
Petrohawk Energy will acquire KCS Energy in a $1.6 billion cash-and-stock deal, bringing together two Houston oil companies with overlapping properties in emerging natural-gas fields in northern Louisiana and East Texas.
ICAP TO BUY EBS GROUP FOR UP TO $825M
ICAP agrees to buy foreign exchange and commodities platform EBS Group for as much as $825 million in cash and shares in a deal that will create the world's largest electronic over-the-counter trading system.
US PROBES CRITICAL SUPPLIER OF GAS TO UKRAINE
Justice Department is investigating Rosukrenergo, the firm partly owned by Gazprom that supplies billions of dollars in Russian and Central Asian natural gas to Ukraine, say people in Europe and the U.S. with knowledge of the inquiry.
SHELL IN NO HURRY TO RESUME NIGERIA OPS
A spokesman for Shell in Nigeria says that security concerns in the troubled oil-rich Delta region continue to hamper the restart of up to a fifth of the country's crude output. "We are not in a hurry to start crude oil production," says the official.
IRAN NUCLEAR ISSUE MUST BE SOLVED BY IAEA - DIPLOMAT
Russia says that the Iranian nuclear crisis must be solved under the direction of the U.N. nuclear watchdog agency, and calls on Iran to cooperate more fully with the organization, reports the Interfax news agency.
ABB US UNIT FILES FOR CHAPTER 11
Switzerland-based electrical engineering company says its oil and gas unit, ABB Lummus Global has filed for Chapter 11 in the U.S. in an effort to rid itself of pending asbestos lawsuits.
SWISS RE TO RAISE LESS EQUITY TO FUND GE BUY
Swiss Reinsurance says it will raise less equity than planned and will instead tap internal sources to fund the $7.6 billion acquisition of General Electric's insurance operations. It expects to raise $3.9 billion instead of $4.7 billion in securities.
HOLCIM TO RAISE CHF1.7B THROUGH RIGHTS ISSUE
Cement producer says it plans a CHF1.7 billion capital increase via a rights issue, to fuel further expansion. Holcim says the cap hike will be through a 11:1 rights issue. It has priced the new shares at CHF83.
PRODI FACES FIRST TEST TO LEADERSHIP
Center-left leader Romano Prodi prepares for his return to power, shrugging off Premier Silvio Berlusconi's refusal to concede defeat in Italy's election and facing the first dispute within his wide-ranging coalition.
NEPAL'S GOVT IMPOSES DAY CURFEW IN CAPITAL
Nepal's royal government imposes a new 11-hour curfew in the capital as an anti-king protester wounded a day earlier dies, raising the number of demonstrators killed by security forces to 14.
BAA URGES HOLDERS TO REJECT FERROVIAL BID
BAA reiterates advises shareholders for the third time to reject Ferrovial's hostile offer, saying the price bears no relation to the true value of the company.
DIS HOLDERS ASK FOR SPECIAL AUDIT ON ADECCO BUY
Two shareholder groups of Deutscher Industrie Service say they want to launch a special audit against the temporary staffing company's management and board members concerning the takeover by much larger peer Adecco.
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