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SAN FRANCISCO (MarketWatch) — RiskMetrics Group Inc. said late Monday its fourth-quarter profit fell to $1.2 million, or 2 cents a share, from $3.7 million, or 7 cents a share, a year ago. Revenue rose to $67.6 million from $25.3 million in the year-ago period. Analysts surveyed by FactSet Research estimated a profit of […]

SAN FRANCISCO (MarketWatch) — Mexican cement maker Cemex said Monday it sold about 90% of its stake in telecom company Axtel for about $257 million. Rodrigo Trevino, Cemex chief financial officer, said the proceeds will be used to pay down the company’s debt.
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NEW YORK (MarketWatch) — U.S. stock indexes climbed Monday, with financials leading the way on Citigroup Inc.’s restructuring effort and the proposed consolidation of U.S. regulators, but the market still tallied its steepest quarterly decline in more than five years. The Dow Jones Industrial Average gained 46.49 points to end at 12,262.89, leaving it […]

SAN FRANCISCO (MarketWatch) — Moody’s Investors Service said Monday it may downgrade the ratings of Pernod Ricard after the company’s announcement that it would buy Vin & Sprit, owner of the Absolut vodka brand, for 5.28 billion euros, or $8.34 billion. Moody’s has a Baa3/P-3 rating on Pernod. “The review for downgrade reflects the […]

SAN FRANCISCO (MarketWatch) — Moody’s Investors Service on Monday said it downgraded the insurance financial strength ratings of FGIC Corp. subsidiaries to Baa3 from A3, and may further downgrade the ratings. Moody’s also cut the senior debt rating of FGIC Corp. to B3 from Ba1. The rating cuts reflect FGIC’s inability to date to raise […]

SAN FRANCISCO (MarketWatch) — Fitch Ratings downgraded the insurer financial strength ratings of CIFG Guaranty and its affiliates to A- from AA-. Fitch took CIFG off a negative rating watch, but the company’s outlook is still negative. While CIFG received a capital infusion of about $1.5 billion late last year, its claims paying resources fall […]

SAN FRANCISCO (MarketWatch) — Standard & Poor’s said Monday it may downgrade ratings for Schering-Plough Corp. while leaving the ratings of Merck & Co. unchanged after the companies released unflattering data on their joint-venture cholesterol drug Vytorin. S&P has an A- corporate credit rating on Schering-Plough. “Standard & Poor’s expects sales to be […]

SAN FRANCISCO (MarketWatch) — Crude-oil futures fell more than $4 to close below $102 a barrel on Monday, joining a broad selling of commodities, as concerns eased about the disruption of oil exports in Iraq and as the dollar rose against other currencies, reducing crude’s attraction as an investment have. Crude for May delivery dropped […]

SAN FRANCISCO (MarketWatch) — Wendy’s International Inc. said Monday it has signed development agreements to open more than 60 restaurants in two Mexican cities over the next seven years. Financial terms weren’t disclosed. Wendy’s said two new franchisees will build and operate the restaurants in Monterrey and Mexico City, with the first of the […]

NEW YORK (MarketWatch) — American Water Works Company Inc. on on Monday said it plans to offer 64 million shares at an estimated price range of $24-$26 a share in a bid to raise about $1.6 billion in its upcoming initial public offering. The company plans to trade on the New York Stock Exchange under […]