The stock market is slipping after the Organization for Economic Cooperation and Development cut its outlook for global growth. As of 1:25 p.m. EDT the Dow Jones Industrial Average (DJINDICES: ^DJI ) is down 123 points, or 0.8%, to 15,287. The S&P 500 (SNPINDEX: ^GSPC ) is down 0.78% to 1,647.
There were no U.S. economic releases today. The OECD now believes global growth will be 3.1% in 2013, down from its earlier forecast of 3.4%. It revised its 2014 growth forecast downward from 4.2% to 4%. The biggest reasons for the drop are the eurozone and Chinese economies. The OECD now expects the eurozone to shrink by 0.6% in 2013, worse than its previous prediction of a 0.1% contraction. In China, the OECD expects the economy to grow just 7.8% this year, down from a previous projection of an 8.5% gain. As many U.S. companies now get nearly 50% of their revenue from abroad, the effects of slower global growth are quickly felt, which is why the stock market is down today.
Top China Stocks To Own For 2014: Universal Travel Group(UTA)
Universal Travel Group, together with its subsidiaries, operates as a travel service provider offering air ticketing and hotel booking services, as well as domestic and international packaged tourism services via the Internet, customer representatives, and kiosks in the People?s Republic of China. It also provides technological solutions to travel reservations, and tour planning and tour guide services. In addition, the company operates TRIPEASY Kiosks, which are placed in hotels, office buildings, banks, shopping malls, and MTR stations for travel booking with credit cards or bank debit cards. Universal Travel Group is headquartered in Shenzhen, the People?s Republic of China.
Top China Stocks To Own For 2014: BHP Billiton Limited(BHP)
BHP Billiton Limited, together with its subsidiaries, operates as a diversified natural resources company worldwide. The company engages in the exploration, development, and production of oil and gas; mining and refining of bauxite into alumina, and smelting of alumina into aluminum metal; and mining of copper, silver, lead, zinc, molybdenum, uranium, gold, diamonds, and titanium minerals, as well as development of potash deposits. It also involves in the mining and production of nickel products, manganese ore, and manganese metal and alloys, as well as in the mining of iron ore, metallurgical coal, and thermal coal. BHP Billiton Limited sells its copper, lead, and zinc concentrates, and alumina to smelters; copper cathodes to wire rod mills, brass mills, and casting plants; uranium oxide to electricity generating utilities; rough diamonds to diamond buyers and diamond manufacturers; nickel products to stainless steel, specialty alloy, foundry, chemicals, and refractory ma terial industries; metallurgical coal to steel producers; and energy coal to power stations, power generators, and industrial users. The company, formerly known as BHP Limited, was founded in 1885 and is headquartered in Melbourne, Australia.
Advisors' Opinion:- [By Alex Planes]
Billiton's beginnings
Tin was first discovered on the Sumatran island of Billiton (Belitung�) on June 28, 1851. Nine years later, a company of the same name was formed in the Netherlands to exploit the resource-rich island. For over a century, Billiton dominated the mining industry of the Indonesian archipelago, and eventually would expand its reach and business range throughout the world. Billiton�merged with Australian metals leader BHP (Broken Hill Proprietary) in 2001 to form BHP Billiton (NYSE: BHP ) (NYSE: BBL ) , which is now the largest mining company in the world. - [By Namitha Jagadeesh]
BHP Billiton Ltd. (BHP) and Rio Tinto Group, the world�� biggest mining companies, fell at least 3 percent. Whitbread Plc (WTB) dropped 2.8 percent after UBS AG downgraded the owner of the Costa Coffee chain. British Land Co., the U.K.�� second-largest real estate investment trust, advanced 1.2 percent after saying it bought commercial property in London for 470 million pounds ($707 million).
5 Best Safest Stocks To Watch Right Now: 3SBio Inc.(SSRX)
3SBio Inc., a biotechnology company, engages in the research, development, manufacture, and distribution of pharmaceutical products in the People?s Republic of China. Its products include EPIAO, an injectable recombinant human erythropoietin to stimulate the production of red blood cells in patients with anemia and to reduce the need for blood transfusions; and TPIAO, a recombinant human thrombopoietin to treat chemotherapy-induced thrombocytopenia. The company also offers Intefen, a recombinant interferon alpha-2a product for the treatment of carcinoma of the lymphatic or hematopoietic system and viral infectious diseases; Inleusin, a recombinant human IL-2 product to treat renal cell carcinoma, metastatic melanoma, and thoratic fluid build-up caused by cancer and tuberculosis; and Iron Sucrose Supplement for treating anemia associated with iron deficiency, as well as for patients with end-stage renal disease requiring iron replacement therapy. In addition, its product pi peline comprises a high dosage EPIAO; NuPIAO, a second-generation EPIAO; TPIAO to treat idiopathic thrombocytopenic purpura; NuLeusin for metastatic melanoma and metastatic renal cell carcinoma; human papilloma virus vaccine for the prevention of cervical cancer; and an anti-TNF monoclonal antibody product candidate for treating rheumatoid arthritis, psoriasis, and other inflammatory diseases. Further, the company?s product pipeline includes Feraheme, an in-licensed intravenous iron replacement therapeutic agent used to treat iron deficiency anemia in chronic kidney disease patients and in patients requiring hemodialysis; and Nephoxil, an iron-based phosphate binder for the treatment of hyperphosphatemia in patients with ESRD. It sells its products directly, as well as through its network of distributors to various healthcare providers, including hospitals, clinics, and dialysis centers. The company was founded in 1993 and is headquartered in Shenyang, the People?s Republic of China.
Top China Stocks To Own For 2014: ChinaEdu Corporation(CEDU)
ChinaEdu Corporation, together with its subsidiaries, provides educational services to the online degree programs of universities in the People?s Republic of China. It also offers online tutoring services to primary and secondary school students; operates primary and secondary schools; and markets international English language curriculum programs to established learning institutions, as well as international polytechnic programs to vocational schools in China. The company?s online degree programs offer associate and bachelor?s degree programs, including accounting, marketing, finance, business administration, international business, law, civil engineering, education, computer science, literature, project management, marketing, and administrative management. These online degree programs primarily target working adults. Its services also include academic program development, technology services, enrollment marketing, recruiting, student support services, and finance operati ons. The company provides technical, recruiting, and other services for the online degree programs of 27 universities; and technology support services to 7 additional universities that are awaiting regulatory approval to launch their online degree programs. As of December 31, 2010, it served approximately 311,000 online degree programs students, as well as approximately 51,450 students in other businesses. ChinaEdu Corporation was founded in 1999 and is based in Beijing, the People?s Republic of China.
Top China Stocks To Own For 2014: Suntech Power Holdings Co. LTD.(STP)
Suntech Power Holdings Co., Ltd., a solar energy company, engages in the design, development, manufacture, and marketing of photovoltaic (PV) products. The company also provides engineering, procurement, and construction services to building solar power systems for certain related party and third party customers. Its products include monocrystalline and multicrystalline silicon PV cells; PV modules; and building-integrated photovoltaics products. In addition, the company provides PV system integration services, including designing, installing, and testing PV systems used in lighting for outdoor urban public facilities, as well as in farms, villages, and commercial buildings; and project development services. Its products are used to provide electric power for residential, commercial, industrial, and public utility applications. The company sells its products through value-added resellers, such as distributors and system integrators; and to end users, such as project develo pers primarily in Germany, Italy, Spain, France, Benelux, Greece, the United States, Canada, China, the Middle East, Australia, and Japan. Suntech Power Holdings Co., Ltd. is headquartered in Wuxi, the People?s Republic of China.
Advisors' Opinion:- [By Travis Hoium]
Suntech is still alive ... sort of
The strange news of the week was another forbearance agreement on Suntech Power's (NYSE: STP ) debt. The company will delay payment of $541 million of notes originally due in March until Aug. 30, the second extension of forbearance. It's unclear exactly how many bondholders agreed to the delay or what Suntech will do in the meantime, but it's supposedly working with creditors to keep the company alive. �
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