News Headline Summary

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TIME: 2020BST
NEWS: Market talk Align Technology (ALGN) have won a court case and patent hearing – Unconfirmed.
REACTION: In reaction to this news co. shares gained 7.7% from USD 32.95 to USD 35.48.

TIME: 1757BST
NEWS: Arkansas Best (ABFS) raised to buy vs. hold at Deutsche Bank.
REACTION: Co. shares moved 2.9% higher in reaction from USD 14.09 to USD 14.50.

TIME: 1708BST
NEWS: Bank of America (BAC) and bond insurer MBIA (MBI) reached USD 1.7bln in settlement according to sources.
REACTION: MBIA shares gained 10.61% from USD 10.16 to USD 11.23 before being halted due to a circuit breaker. On resumption of trade, MBIA shares continued to move higher and closed the session up over 45%. Bank of America shares also gained following the news and closed the session over 5% higher.

TIME: 1656BST
NEWS: lululemon (LULU) sued by retirement fund over executive compensation.
REACTION: Co. shares trade near the lows of the day at USD 74.81 (-2.02%) last.

TIME: 1622BST
NEWS: Telecom Italia Media (TME IM) Q1 Revenue EUR 24.5mln vs. Exp. EUR 27.6mln
REACTION: In immediate reaction co. shares traded down 1.24% from EUR 0.105 to EUR 0.104.

TIME: 1524BST
NEWS: ECB's Draghi says ECB are to examine EU data in the next weeks and is ready to act again.
REACTION: EUR/USD immediately fell 35 pips from 1.3105 to 1.3069. Sep-13 Euribor rose 1.5 ticks from 99.82 to 99.835. The Euribor strip was seen down between 0.5 and 1 tick across the strip and is now seen higher by 1-1.5 ticks across the strip.

06 May 2013 - 22:54 - - Source: RANsquawk

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