Dahlman Rose News
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Returns for Capesize vessels that haul iron ore slumped amid speculation that slower economic growth in China, the world’s biggest buyer of the mineral, will curb freight rates.
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Cowen Group Inc., the securities firm run by Peter Cohen, plans to buy Dahlman Rose & Co. in a stock transaction to expand into natural resources.
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Omar Nokta, a managing director at Dahlman Rose & Co. who covered marine transportation, left the investment bank yesterday after nine years.
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Molycorp Inc., owner of the largest rare-earth deposit outside China, fell 12 percent after Dahlman Rose & Co. cut its recommendation to hold from buy following the mining company’s decision to sell bonds and stock.
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Omar Nokta left Dahlman Rose & Co. after “a number of years” at the company as a shipping analyst, the New York-based bank said in an e-mailed statement today.
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FMC Technologies Inc. , the third- largest U.S. maker of oilfield equipment, jumped 8 percent in New York trading after analysts raised their ratings of the company’s shares.
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Oil-tanker rates have jumped for vessels hauling refined fuel cargoes from the Caribbean and Europe on strengthening export volumes from the U.S. Gulf, according to investment bank Dahlman Rose & Co.
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Charter costs for ships that carry iron ore are unlikely to rebound to levels that might stoke investor interest in companies’ shares as Chinese demand for the steelmaking raw material slows, said Dahlman Rose & Co.
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The Standard & Poor’s 500 Index will rise 12 percent to 1,490 by the end of 2011 after “sharp pullbacks” as corporate profits and a weak dollar outweigh the credit-crisis “hangover,” Dahlman Rose & Co. said.
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A combination of AMR Corp.’s American Airlines and US Airways Group Inc. promises to strengthen the U.S. industry’s ability to raise fares as the combined carrier eventually cuts back on flying.
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