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Composite Portfolio Midday Report (7/29/13)

|Includes: ALSK, CEL, CP, EBIX, Elan Corporation, plc (ELN), FRO, HTS, MXA, RAI, VHI
Pretty Girls and Railroads     -0.03%      
Widows and Orphans     -0.11%      
Climbers and Dogs     -0.59%      
Total     -0.23%    

 

  • Perrigo / Elan: tax shopping
    Jul 29 2013 16:34 BST
    Remember the quaint old days, when mergers aimed for cost savings? Ah, the deals of yesteryear. It is all about taxes now. When Actavisbought Ireland-based Warner Chilcott earlier this year, the lower tax rate in the target's domicile was a key attraction. Perrigo, a US generic drugmaker, is also moving....
  • Mortgage Reits suffer on rate rise fears
    Jul 29 2013 15:57 BST
    Deteriorating prices for US agency mortgage-backed securities are driving steep declines in real estate investment trusts that invest in the bonds, even as the broad market for fixed income and equities has rallied after a May sell-off. Shares in the two largest mortgage Reits by market capitalisation, Annaly Capital Management...
  • BAT is first tobacco company to enter UK's e-cigarette market
    Jul 29 2013 15:48 BST
    British American Tobacco will become the first tobacco company to launch an e-cigarette in the UK, as City analysts debate the likely effect of the new category on the UK's $24bn cigarette industry. The UK's largest tobacco company by market capitalisation will start selling "Vype" from a dedicated website on...
  • Cash call fears knock Barclays shares
    Jul 29 2013 09:48 BST
    Shares in Barclays made the biggest single loss on the FTSE 100 on Monday amid reports the UK bank will outline a plan to boost its capital strength - potentially including a £4bn rights issue. Barclays is under pressure to disclose how it will address a capital shortfall of as...
  • Apple supplier accused of labour violations
    Jul 29 2013 09:28 BST
    A China labour watchdog has accused Pegatron, a big supplier to Apple, of employing underage workers and pressuring employees to work illegal overtime in its factories. In a new report, New York-based China Labor Watch said Pegatron's factories were "violating a great number of international and Chinese laws and standards...

 

Portfolio Movers
Gainers Today's Market Change
Elan Corporation PLC
ELN:NYQ
0.66USD+4.42%
Alaska Communications Systems Group Inc
ALSK:NSQ
0.09USD+3.57%
Cellcom Israel Ltd
CEL:NYQ
0.31USD+2.79%
Valhi Inc
VHI:NYQ
0.29USD+2.05%
Ebix Inc
EBIX:NSQ
0.22USD+1.90%
Losers Today's Market Change
Frontline Ltd
FRO:NYQ
-0.15USD-5.38%
Reynolds American Inc
RAI:NYQ
-0.54USD-1.07%
Minnesota Municipal Income Portfolio
MXA:ASQ
-0.11USD-0.72%
Canadian Pacific Railway Ltd
CP:NYQ
-0.53USD-0.42%
Hatteras Financial Corp
HTS:NYQ
-0.04USD-0.22%

Disclosure: I am long ELN, ALSK, CEL, VHI, EBIX, FRO, RAI, MXA, CP, HTS.