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The maker of speakers, webcams and keyboards smashed forecasts with a 43 percent rise in third-quarter net profit to $57 million as demand picked up during the Christmas period.

'Q3 marks a turning point in our plan to emerge stronger from the economic downturn,' Chief Executive Gerald Quindlen said in a statement issued on Thursday.

'There were many highlights in the quarter, starting with improved sell-through in all of our retail regions, driven by the success of our new products across multiple categories.'

At 1150 GMT, Logitech shares were up 0.7 percent at 19.31 Swiss francs, after having earlier risen some 4 percent, while the DJ Stoxx European technology index was up 0.45 percent.]]> melanie@nospam.com (traders) Thu, 21 Jan 2010 04:35:58 -0800 http://www.traderscommunity.com/news.php?item.34717.8 http://www.traderscommunity.com/news.php?item.34724.8
Like other European exchanges, LSE has been losing share to multilateral trading facilities (MTFs) such as Chi-X and BATS since pan-European regulation opened the market to competition in 2007.

The company is fighting back by reducing fees, negotiating for lower clearing and settlement costs, cutting costs and making acquisitions to boost pan-European trading and improve its technological platform.

'Conditions are expected to remain testing, but we are continuing to focus on actions to reduce underlying operating costs, improve business efficiency and improve our competitive position through leveraging our assets,' said LSE Chief Financial Officer Doug Webb told reporters.

Revenue fell 9 percent to 154.9 million pounds ($252.8 million) for the third quarter to end-December versus a year ago, but was up 4 percent on the previous quarter, the group said. The year-on-year decline amounted to 12 percent on a constant-currency basis.]]> melanie@nospam.com (traders) Thu, 21 Jan 2010 03:57:48 -0800 http://www.traderscommunity.com/news.php?item.34724.8 http://www.traderscommunity.com/news.php?item.34699.8
Kraft Chief Executive Officer Irene Rosenfeld injected more cash into her bid and dropped the number of new shares in the offer to win over Cadbury Chairman Roger Carr and mollify billionaire investor Warren Buffett, the U.S. food company's top shareholder.

The deal would create the world's biggest confectioner, and analysts see little likelihood of a counterbid.

The cash-and-stock agreement, which dealmakers said was struck after all-night negotiations at the London headquarters of investment bank Lazard, values each Cadbury share at 840 pence. Shareholders are also set to get a 10p special dividend, bringing it to a total of 850p.

It marks the largest European food and beverage deal on record, according to Thomson Reuters data.

Rosenfeld had prompted the talks by telephoning Carr on Sunday and suggesting a price of 830p. Although Carr insisted on 85Op, they met on Monday morning at the Lanesborough Hotel, Hyde Park, in central London, where she offered 840p.]]> melanie@nospam.com (traders) Tue, 19 Jan 2010 12:43:19 -0800 http://www.traderscommunity.com/news.php?item.34699.8 http://www.traderscommunity.com/news.php?item.34691.8
Cadbury had steadfastly rejected Kraft's previous 10.5 billion pound hostile takeover bid since a brief conversation between the two sides in late August.

But with a Jan. 19 deadline looming to raise its bid, Kraft Chief Executive Irene Rosenfeld held talks late into the night in central London with Cadbury Chairman Roger Carr and CEO Todd Stitzer. An agreement was expected to be announced early on Tuesday, sources familiar with the situation told Reuters.

The two sides were discussing a deal valued as high as 850 pence a share for Cadbury, compared to Kraft's current offer of 769p a share, sources said.

Most, or possibly all, of the increase would be in cash to appease Kraft shareholders, such as Warren Buffett, who opposed issuing more shares to purchase Cadbury.]]> melanie@nospam.com (traders) Mon, 18 Jan 2010 19:48:13 -0800 http://www.traderscommunity.com/news.php?item.34691.8 http://www.traderscommunity.com/news.php?item.34629.8
The British confectioner has been fighting off the U.S. food giant's hostile cash and shares bid for over four months, and on Friday received support from its No. 2 shareholder Legal&General Investment Management Ltd.

Adding to pressure on Kraft to raise its bid, the Wall Street Journal reported late on Friday that Hershey has concluded it has the financial muscle to top Kraft's offer and will likely make a bid next week of at least 800 pence to 820 pence, or $17.9 billion.

'Our position on Cadbury is unchanged; we continue to believe that the current Kraft bid does not reflect the long term value offered by the company on a stand-alone basis,' said L&G's head of UK equities Mark Burgess in a statement.

L&G is Cadbury's second-largest investor with a 5.1 percent stake behind New Jersey-based Franklin Mutual Advisers with 7.7 percent. The UK investor also rejected the hostile bid on Sept. 7, 2009, the day the offer for Cadbury was made public.]]> melanie@nospam.com (traders) Fri, 15 Jan 2010 18:25:24 -0800 http://www.traderscommunity.com/news.php?item.34629.8 http://www.traderscommunity.com/news.php?item.34655.8
The pan-European FTSEurofirst 300 index of top shares closed down 1.1 percent at 1,052.24 points. The index ended the week 1.2 percent lower, the first time it had ended the week down in the past five.

The index is up 63 percent since reaching a lifetime low in March last year and gained 26 percent in 2009.

'I would have liked to see a bit more on the Michigan figures. Although the preliminary figures were better than the previous reading it was shy of what was expected,' said Stephen Pope, chief global equity strategist at Cantor Fitzgerald.

The Michigan Surveys of Consumers was the highest since September 2009, but it fell short of analysts' median expectation of a reading of 73.9, according to a recent Reuters poll.]]> melanie@nospam.com (traders) Fri, 15 Jan 2010 08:42:43 -0800 http://www.traderscommunity.com/news.php?item.34655.8 http://www.traderscommunity.com/news.php?item.34583.8
By 0702 GMT, futures for the DJ Euro Stoxx, for Germany's DAX and for France's CAC were up 0.7 to 0.8 percent.

Miners will be in focus after Rio Tinto beat its own forecast for iron ore output in the fourth quarter, signaling robust demand from Chinese steel-makers and putting producers in a strong position for price talks this year.
]]> melanie@nospam.com (traders) Wed, 13 Jan 2010 23:21:11 -0800 http://www.traderscommunity.com/news.php?item.34583.8 http://www.traderscommunity.com/news.php?item.34516.8
A source close to the situation told Reuters that Ferrero would not proceed with a bid. A second source close to Ferrero said the company had ceased talking with Hershey, a potential partner in a rival bid.

Hershey has struggled to assemble a bid for Cadbury and the Ferrero decision cast greater doubt on its ability to make an offer. Hershey officials would not comment on whether it would proceed with an offer. Last week, Swiss food group Nestle ruled itself out of a Cadbury auction.

Ferrero's decision came as Cadbury made its final case against the Kraft bid, delivering higher margins and promising a raised dividend, but the U.S. food group was still expected to succeed by slightly improving its offer.

The Dairy Milk chocolate and Trident gum maker said Kraft's 'derisory' offer valued it below that of any comparable deal in the sector.

'Our shareholders are very clear, our independent stand-alone value is much preferred to the bid which is on the table. We do have good support,' Cadbury Chief Executive Todd Stitzer told Reuters in an interview.]]> melanie@nospam.com (traders) Tue, 12 Jan 2010 16:16:52 -0800 http://www.traderscommunity.com/news.php?item.34516.8 http://www.traderscommunity.com/news.php?item.34490.8
Zetsche told journalists at the Detroit Auto Show that he saw the Chinese market posting single-digit growth in 2010, while Daimler's own sales in that market would grow faster, he said. China overtook the United States as the world's biggest car market in 2009, and has shown strong growth as more mature markets faltered in the profound crisis that has battered the industry.

The group's goal for 2010 is to beat 2009 sales levels for both passenger cars and commercial vehicles, Zetsche said.

Zetsche said he saw the U.S. market growing by around 10 percent this year, while the European market, which was supported in 2009 by generous government-backed scrapping incentive schemes which are now waning, would fall 3-4 percent.
]]> melanie@nospam.com (traders) Mon, 11 Jan 2010 13:07:11 -0800 http://www.traderscommunity.com/news.php?item.34490.8