WASHINGTON (Reuters) - New York Sen. Hillary Clinton has accepted an offer from President-elect Barack Obama to become U.S. secretary of state, joining her former Democratic rival to help guide U.S. foreign policy, the New York Times said on Friday.
The newspaper quoted two Clinton associates who said she came to her decision after additional discussions with Obama about the nature of her role as the top U.S. diplomat and his foreign policy plans.
"She's ready," one of the sources told the newspaper, which posted the report on its website.
Clinton emerged as a frontrunner for the secretary of state job late last week, transfixing a country which had seen her compete hard against Obama to win the Democratic nomination for the presidency. Obama clinched that nomination in June and then beat Republican John McCain in the November 4 election.
Democratic Party sources have recently said Clinton, was on track to be nominated, with an official announcement expected after the November 27 Thanksgiving holiday.
NBC news meanwhile also reported two other key Obama appointments: New York Federal Reserve President Timothy Geithner as treasury secretary, and New Mexico Gov. Bill Richardson as commerce secretary. NBC said official announcements on the appointments were expected on Monday.
Officials with the Obama transition team had no immediate comment.
Clinton has a global profile both as a political leader in her own right and as the wife of former U.S. President Bill Clinton.
Policy analysts say her selection as secretary of state could mean a more hawkish U.S. stance, noting that she has been more reluctant than Obama to commit to a firm timetable for withdrawing U.S. troops from Iraq.
Friday, 21 November 2008
Clinton accepts Obama secretary of state offer: NY Times
Buy Unichem Labs, target of Rs 270: Karvy
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Karvy Stock Broking has maintained its buy rating on Unichem Laboratories with a target price of Rs 270 in its November 21, 2008 research report. "We have decreased our formulations exports by 9 % to Rs 900 million for FY09 while we have maintained domestic API revenues of Rs 200 million for FY 09 and FY 10 respectively. We have also marginally decreased our R & D expenses for FY 2009 while we increase our personnel expenses for FY 2010 in lieu of higher increment in next year. In FY 2009 the company's personnel cost are not anticipated to increase much as the company's performance was subdued in FY 2008. We have marginally increased our EPS estimates for FY 2009 by 0.8% to Rs 26.3 and have reduced our EPS for FY 2010 by 3.6 % to Rs 34.8. We maintain BUY rating on the stock with a price target of Rs 270 based on 7.75x (FY 2010E EPS Rs 34.8)," says Karvy's research report.
Disclaimer: The views and investment tips expressed by investment experts on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
Source: Moneycontrol
Buy BPCL: Indiabulls Securities
Indiabulls Securities Research has upgraded its rating on Bharat Petroleum Corporation (BPCL) to buy in its November 20, 2008 research report. "Bharat Petroleum Corporation Limited (BPCL) reported a net loss of Rs 26.3 billion for Q2’09 on account of higher under-recoveries (Rs 102.8 billion) and inventory losses (Rs 6.1 billion), caused by higher crude oil prices. We have revised our estimates to incorporate the affect of the falling crude oil prices and the depreciating rupee. Based on our valuation, we have arrived at a fair price value Rs 370, implying an upside potential of 18.3%. Thus, we upgrade our rating on the stock to Buy," says Indiabulls Securities' research report.
Disclaimer: The views and investment tips expressed by investment experts on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
Source: Moneycontrol
Buy JK Tyre, target Rs 57: Angel
Angel Broking has recommended a buy rating on JK Tyre and Industries with a target of Rs 57 in its November 21, 2008 research report. "The current global economic situation also hampers the possibility of large scale exports, though the global price is higher by Rs 22 per kg (Bangkok — Rs 87) than the price in the Indian market. But, there is no hurry in the industry, especially the tyre manufacturers, to stock rubber heavily. The Tyre industry strongly believes that the price would further decline and Rs 50 seems to be within reach. We recommend a Buy on JK Tyre with target price of Rs 57," says Angel's research report.
Disclaimer: The views and investment tips expressed by investment experts on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
Source: Moneycontrol
Buy IVRCL Infra on declines: India Infoline
India Infoline has recommended to buy IVRCL Infrastructure and Projects on declines with a stoploss of Rs 108 and target of Rs 130 in its November 21, 2008 research report. "The stock has witnessed a sharp fall from the levels of Rs 299 from second week of September 2008 to a low of Rs 57 in last week of October 2008. Since then, the stock has made a strong recovery. However, the rally proved to be short-lived as it faced stiff resistance around the levels of Rs 160, pulling the stock lower."
"Despite the ongoing volatility, the stock has managed to hold on to its short-term support trendline. In last few sessions, it has made a promising recovery with impressive volumes. It will complete a bullish breakout if it crosses the levels of Rs 123. Based on above technical analysis, we recommend traders to buy the stock on declines up to the levels of Rs 113. Keep a stop loss of Rs 108 for a short-term target of Rs 130," says India Infoline's research report.
Disclaimer: The views and investment tips expressed by investment experts on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
Source: Moneycontrol
Buy Ceat, target of Rs 43: Angel
Angel Broking has recommended a buy rating on Ceat with a target price of Rs 43 in its November 21, 2008 research report. "The current global economic situation also hampers the possibility of large scale exports, though the global price is higher by Rs 22 per kg (Bangkok — Rs 87) than the price in the Indian market. But, there is no hurry in the industry, especially the tyre manufacturers, to stock rubber heavily. The Tyre industry strongly believes that the price would further decline and Rs 50 seems to be within reach. We recommend a Buy on CEAT with target price of Rs 43," says Angel's research report.
Disclaimer: The views and investment tips expressed by investment experts on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
Source: Moneycontrol
Buy ONGC: Angel
Angel Broking has maintained its buy rating on Oil and Natural Gas Corporation (ONGC) in its November 21, 2008 research report. "Oil & Natural Gas Corporation (ONGC) and its partners have bagged 20 out of the 44 blocks that have been awarded under the seventh round of the New Exploration Licensing Policy (NELP-VII). The Cabinet Committee on Economic Affairs (CCEA), which met on Thursday (November 20), decided to award 44 out of the 45 oil and gas blocks to the first ranked/sole bidders, while not awarding the Mumbai Basin Deep Water-2005/8 block to the sole bidder, Cairn Energy India - Cairn India (CEIL-CIL). The second biggest winner was the first-timer BHP Billiton Petroleum International-GVK Infrastructure Oil & Gas consortium, which was awarded seven deep-water blocks."
"The Centre had launched the NELP-VII on December 13, last year, offering 57 exploration blocks, which included 19 deep-water, nine shallow-water and 29 on-land blocks. The bids were opened on June 30. In all, 181 bids were received from 95 companies for 45 blocks (12 deep-water, seven shallow-water and 26 on-land). The Production Sharing Contracts (PSC) for the 44 blocks is likely to be signed within a month. Total investment commitment for Phase-I of exploration of these blocks is around USD 1.5 billion. We maintain a Buy on ONGC," says Angel's research report.
Disclaimer: The views and investment tips expressed by investment experts on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
Source: Moneycontrol