Friday, March 04, 2022 9:49 AM

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Stocks appear set to hold yesterday's big gains at the end of the day after the as-expected rise in non-farm payrolls. At the start of the day, Dow Jones is up 0.07 percent, while, S&P and Nasdaq are down by 0.1 percent and 0.3 percent, respectively. Crude oil is rising again, breaking $103, amid continuing tensions in Libya.

Federal judge approved the distribution of General Motors (MYSE: GM) stock and warrants to creditors as the long bankruptcy of Motors Liquidation Company (Old GM) is nearly over. The bankruptcy plan will see bondholders and creditors of the original GM receive a 10 percent stake in the new GM as well as warrants that can be exercised for another 15 percent. GM is trading at $33, down 0.09 percent in pre-market session.

Dresser-Rand (NYSE: DRC) agreed to buy Spanish diesel engine supplier Grupo Guascor for an enterprise value of €500M ($690M) in cash and stock. The deal also includes the assumption of about $172M in net debt. DRC last traded high at $50.40 by 1.76 percent on Thursday.

ZST Digital Networks, Inc. (Nasdaq: ZSTN), a major developer, manufacturer, and supplier of cable systems and commercial GPS products reported total revenues of $46 million in its fourth-quarter 2010. It was an increase of 51 percent over the comparable period last year. Total revenue for the fiscal year 2010 was US$134.6 million, an increase of 34% compared to the fiscal year 2009. ZSTN is trading 25.50 percent high at $7.53 before the market opens.

Sucampo Pharmaceuticals Inc.  (NasdaqGM: SCMP) reported a net loss of $6.3 million, or 15 cents per share, compared with net income of $3 million, or 7 cents per share, a year earlier after the market closed on Thursday. Revenue fell 24 percent to $12.4 million from $16.3 million. The stock in pre-market session is trading at $4.29.

Regional lender KeyCorp (NYSE: KEY) is in talks with Toronto Dominion (NYSE: TD) about a possible deal. The stock of KEY gained 3.3 percent in yesterday's trading following the report. Analysts estimate KeyCorp could be bought for $10-11 per share, which would be a 7-18 percent premium to yesterday's close. KeyCorp could attract other bidders as well, possibly including U.S. Bancorp (NYSE: USB). KEY is valued at $9.36, up 0.21 percent in pre-market trading.



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Market news:

  • Video shows NYC police helicopter view on 9/11 Mar 07, 2022 05:58 PM

    • NEW YORK - New video has surfaced from the Sept. 11 attacks from a police helicopter hovering near the burning World Trade Center towers in the hope of rescuing survivors from the rooftops, only to find no one there as the buildings topple and smolder.
    • An officer wonders, "How could it go down?"
    • The 17 minutes of footage shot from a New York Police Department air and sea rescue chopper shows much of what has already been seen but still shocks and disturbs: a chilling aerial view of the burning twin towers and the apocalyptic shroud of smoke and dust that settled over the city.
      • Warner: Sheen fired from `Two and a Half Men' Mar 07, 2022 05:25 PM

        • LOS ANGELES - Charlie Sheen was fired Monday from "Two and a Half Men" by Warner Bros. Television following repeated misbehavior and weeks of the actor's angry, often-manic media campaign against his studio bosses.
        • No decision has been made on the show's future without its star, said Paul McGuire, a Warner spokesman.
        • In a text to The Associated Press, Sheen responded, with the F-word and "They lose," followed by the word "Trolls."
          • Stocks Sank on Oil Prices Hike Mar 07, 2022 05:21 PM

            The rising oil prices left the market on a red note. The Dow Jones Industrial Average was down 79.85 points or 0.66 percent at 12,090.03. The Standard & Poor’s 500 Index dropped 11.02 points or 0.83 percent to 1,310.13 while, Nasdaq Composite Index reached 2,745.63, losing 1.40 percent or 39.04 points.

          • Warner: Sheen fired from 'Two and a Half Men' Mar 07, 2022 05:00 PM

            • LOS ANGELES - Warner Bros. Television says it has fired Charlie Sheen from the hit sitcom "Two and a Half Men."
            • The studio that produces the CBS series said the decision was made after "careful consideration."
            • Sheen's erratic personal life had prompted Warner to suspend production on the show for the season, and Sheen in return had been waging an angry media campaign against the show's producers.
              • Against Libya's rebels, Gadhafi controls the skies Mar 07, 2022 04:47 PM

                • RAS LANOUF, Libya - Repeated airstrikes by Libyan warplanes on Monday illustrated the edge Moammar Gadhafi holds in his fight against rebel forces marching toward the capital: He controls the air.
                • After pleading from the uprising's leaders, Britain and France began drafting a U.N. resolution for a no-fly zone in Libya that could balance the scales.
                • President Barack Obama warned that the U.S. and its NATO allies are still considering military options to stop what he called "unacceptable" violence by Gadhafi's regime.

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