Author: FX_Trdr

Wednesday’s debate between President Barack Obama and Republican challenger Mitt Romney could have a big influence on the race for the White House in these tough economic times. The debate is focusing on the economy.

A company submits a Form S-4 to the United States Securities and Exchange Commission in the event of an acquisition or merger of two public companies. This particular form is also submitted for exchange offers..

The Daily Ticker’s Aaron Task and Henry Blodget discuss how banks are profiting from QE3

Luxfer Holdings, a global materials technology company specializing in the design, manufacture and supply of high-performance materials, components and gas cylinders, announced the pricing of its initial public offering of American Depositary Shares, each representing one-half of an ordinary share of Luxfer, at a price of $10 per ADS. The shares are expected to begin trading today on the New York Stock Exchange under the ticker symbol LXFR.

Thoratec (THOR) was upgraded by UBS (UBS) from neutral to buy with a price target of $39, as the share price is inexpensive given the position the company has in a growth market. Shares are higher by about 3.5 percent.

JAVELIN Mortgage Investment Corporation (JMI) announced plans to raise $150 million in its IPO and concurrent private placement. The company has priced its initial public offering of 7,250,000 shares of common stock at $20.00 per share, raising $145 million in gross proceeds.

Huntington Ingalls (HII) was downgraded by Morgan Stanley (MS) to underweight from equal weight with a $35 price target, as the company is facing margin headwindes, despite the fact that it has been outperforming its peers. Shares are lower by about 4.2 percent.

Showing relative strength in trading on Wednesday are agriculture & farm products shares, up on the day by about 4.1% as a group, led by S&W Seed Wts (SANWZ), trading up by about 21.7% and Ceres (CERE), trading up by about 5.7% on Wednesday. For MarketNewsVideo.

Optimism over Spain’s request for a bailout were wiped out by concerns over the slowdown of the global economy as the markets sank into negative territory this afternoon. Automakers posted monthly auto sales today, boosted by the sale of small cars.

Consolidated Edison (ED) was downgraded by Credit Suisse (CS) to underperform from neutral with a price target of $60 due to risks regarding the company’s upcoming rate increase, as well as the fact that the stock trades at a premium valuation. Shares are about even in afternoon trading.