Reuters Insider - Inside the News: Precious Metals Shine in 2010

United Health Products

13/06/2016 11:00

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 Source:             Thomson Reuters                                   
                                                                       
 Description:        Palladium and Silver ended the year as the biggest 
                     gainers in the Commodity Research Bureau Index.   
 
 
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Transcript (May be auto-generated)

                 Time to go insider the news at 3PM. US stocks were mixed in light trading as we 
head into the final hour of trading in the final day of the year. Crude prices 
ending the year with gains reversing yesterday's losses for the year. Oil gained
15%. Precious metals put in a stellar performance in 2010. Gold prices up 29.7%,
their biggest gain in three years. Silver also ended the year strong rising 
nearly 84% in 2010. And palladium rose a whopping 96.5%. Imax shares raising 
almost all of their earlier gains, 

up just 4% after being up as much as 15% in its happiest trading day ever. That 
after the Company said it was not aware of any corporate developments to account
for its activity and that its policy is that it does not comment on rumors or 
speculation. Imax responding to reports that Sony may bid $4 per share for the 
big screen company. Shares of Universal American are the top percentage gainers 
on the NYSE rising 40% to a near three-year high. This after CVS Caremark said 
it will buying Universal's Medicare prescription drug business for about $1.25 
billion. The deal is going to double the size of the CVS business that provides 
prescription drug coverage under the Medicare Part D programme. It also makes 
CVS more competitive in the health insurance industry. It's gonna more than 
double their membership to over 3 million. And 

that'll really make them a more formidable competitor against the likes of 
Humana and United Health which are sort of the titans in this space and which 
have been bulking up themselves. Elsewhere, Goldman Sachs is on track to win 
back its top spot in the M&A league table in 2010. Goldman looks set to beat 
last year's top advisor Morgan Stanley but the race is tight. Goldman advised 
368 deals worth $553.5 billion so far this year. That compares with Morgan 
Stanley's 393 deals worth $537.9 billion. If Goldman can beat out its torrid 
rival in 2010, it will have won the title nine out of the last ten years. The 
M&A stake will be higher in 2011 with more companies looking for advise on 
takeovers and an increase in cross border deals and Morgan Stanley may already 
have a headstart. Thanks to its rolling the $62.5 billion bailout for AIG that's
not yet included in this year's data. Hedge funds posting weak returns in 2010 
compared to the major US indices. Hedge funds on average returned 4.5% this year
through December 28, according to Hedge Fund Research. The reason cited for the 
lackluster performance was lack of leverage and choppy markets. Coming up at 
4PM, Reuters Equities Analyst John Kozey tells us how 2011 might shape up for US
markets. I'm Rhonda Schaffler. This is Reuters Insider