AB InBev (NYSE: BUD) Nears Deal to Buy Modelo
Atlanta, GA 6/25/12 (StreetBeat) – Anheuser-Busch InBev NV (NYSE: BUD), the world’s biggest brewer, is close to buying the remainder of Mexico’s Grupo Modelo (OTCBB: GPMCF) SAB for more than $12 billion, according to a person with knowledge of the matter.The purchase may be announced as soon as this week, said the person, who asked not to be identified as the discussions are confidential. The deal...more
Fidelity National to buy J Alexander's (Nasdaq: JAX) for $72 mln
Atlanta, GA 6/25/12 (StreetBeat) -- Fidelity National Financial Inc, the No. 1 U.S. property title insurer, will buy restaurant operator J Alexander's Corp (Nasdaq: JAX) for about $72 million.Shareholders of J Alexander's can elect to receive $12 per share in cash or a combination of $3 in cash and one share of Class A common stock of American Blue Ribbon Holdings Inc (Nasdaq:ABRH),...more
Sanguine (OTCBB: SGUI) Provides Update on Status of Company
Atlanta, GA 6/25/12 (StreetBeat) -- Sanguine Corp. (OTCBB:SGUI) is pleased to provide a corporate update in the form of a statement from the President of the Company, Mr. Frank Marra.As an emerging life science technology company, we have overcome several obstacles over these past few years, all of which were exacerbated by the meltdown of the financial markets. However, in the face of these issues...more
Telkonet (OTCBB: TKOI) Partners with OTO Development
Palm Beach, FL 6/25/12 (StreetBeat) -- Telkonet, Inc. (OTCBB: TKOI), developer of the revolutionary EcoSmart energy management platform incorporating patented Recovery Time™ technology, announced today that the new development project, Hyatt Place Los Angeles Int Airport/El Segundo of El Segundo, CA, will be installed with a fully networked EcoSmart energy management solution.In partnership with Spartanburg,...more
Great Wall Builders (OTCBB:GWBU) Contract for EUR750,000 Start FEED Units in Slovenia
Palm Beach, FL 6/25/12 (StreetBeat) -- Great Wall Builders Ltd. (OTCBB:GWBU) (or "the Company"), operating as "Start Technologies Europe s.r.o." ("Start Technologies"), and NESS Tech GmbH, Start's exclusive European distributor, is pleased to announce the appointment of TE.SIS d.o.o, as its agent for the Slovenian market.As previously...more
3 Things to Know Before Trading
Palm Beach, FL 6/25/12 (StreetBeat) -- Stocks were broadly weaker in Asian trade. Shanghai fell 1.6%, the Nikkei was down 0.7%, while the Hang Seng and Australia were a half percent lower on the session. European indexes are also weaker this morning, with the Dax off 1.8%, the Footsie down 0.7% and Spain is more than two and a half percent lower this morning. US stock futures a down by almost one percent as I write. *Spain has formally requested...more
ITC Affirms Both Overland Storage (Nasdaq: OVRL) Patents Are Valid
Orlando, FL 6/25/12 (StreetBeat) -- Overland Storage (Nasdaq:OVRL) today announced that Administrative Law Judge Charles Bullock of the U.S. International Trade Commission ("ITC") has issued a 125-page, full version of the Initial Determination that explains his reasoning in detail. The full Initial Determination is confidential and only the attorneys in the ITC action are...more
Momenta shares drop as co loses patent lawsuit
Orlando, FL 6/25/12 (StreetBeat) -- Shares of Momenta Pharmaceuticals Inc (Nasdaq:MNTA) slipped 22 percent on Monday after the company lost a patent lawsuit brought against it by bigger rival Teva Pharmaceutical Industries Ltd (NYSE:TEVA).On Friday, a U.S. court upheld Teva's patents for its multiple sclerosis drug Copaxone well into 2015."Friday's negative ruling on Copaxone delays the potential launch of (Momenta's generic...more
GeoEye (Nasdaq: GEOY) shares tumble on loss of government contract
Shawshank, VA 6/25/12 (StreetBeat) – Shares of GeoEye Inc (Nasdaq: GEOY) fell 26 percent in morning trade, after the satellite imagery provider said the U.S. National Geospatial Intelligence Agency (NGA) will not renew a major contract with it due to budget constraints.GeoEye and rival DigitalGlobe Inc had won contracts worth $7 billion from the NGA to provide high-resolution...more
Ventrus Bio (Nasdaq:VTUS): -53% How Stupid does Brean Murray Look?
Northern,WI 6/25/12 (TheStreetBeat) -- Ventrus Bio (Nasdaq:VTUS): -53% How Stupid does Brean Murray Look? Wall Street research never ceases to amaze me and this little collapse caught my eye as Ventrus Bio cancels any furthur research on VEN 309 a drug which was in the midst of FDA drug trials. The real stumper for me is why in the hell Brean Murray...more
Egypt Stocks Surge 7.6% After Vote
Shawshank, VA 6/25/12 (StreetBeat) – Trade on Egypt’s stock market was suspended as stocks were surging on Monday but even so the market closed 7.6 percent higher, the first reaction to the announcement of Mohamed Mursi as Egypt’s new President. The surge places the index among the world’s best performers once again.The Market Vectors Egypt ETF (PCX:EGPT) in the U.S., another way for foreign investors to win exposure...more
Momenta (Nasdaq: MNTA) shares drop as co loses patent lawsuit
Orlando, FL 6/25/12 (StreetBeat) -- Shares of Momenta Pharmaceuticals Inc (Nasdaq:MNTA) slipped 22 percent on Monday after the company lost a patent lawsuit brought against it by bigger rival Teva Pharmaceutical Industries Ltd (NYSE:TEVA).On Friday, a U.S. court upheld Teva's patents for its multiple sclerosis drug Copaxone well into 2015."Friday's negative ruling on Copaxone delays the potential...more
Hershey (NYSE: HSY) sees $10 bln in sales by 2017
Northern, WI 6/25/12 (StreetBeat) -- The Hershey Co. (NYSE:HSY) on Monday said it is now targeting $10 billion in net sales by the end of 2017. The company will be focusing on five core brands globally - Hershey's, Reese's, Hershey's Kisses, Jolly Rancher and Ice Breakers - as part of a new strategy. "Our marketplace and financial results over the last few years validate our consumer-driven approach to core brand...more
Ventrus (Nasdaq: VTUS) drops piles drug, shares hit life-low
Northern, WI 6/25/12 (StreetBeat) -- Ventrus Biosciences Inc's (Nasdaq: VTUS) experimental drug to treat piles failed in a late-stage trial, and the company said it would stop developing the drug to reduce costs, sending its shares to a life low.The company's shares were down 55 percent at $5.47, their biggest single-day percentage drop. The stock, which touched a low of $5.28 earlier...more
ITC Affirms Both Overland Storage (Nasdaq: OVRL) Patents Are Valid
Orlando, FL 6/25/12 (StreetBeat) -- Overland Storage (Nasdaq:OVRL) today announced that Administrative Law Judge Charles Bullock of the U.S. International Trade Commission ("ITC") has issued a 125-page, full version of the Initial Determination that explains his reasoning in detail. The full Initial Determination is confidential and only the attorneys in the ITC action are...more