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Morning Market Roundup: Lions Gate Strikes It Big, Eurozone Firewall Revisited


Here’s what’s important in the financial world this morning:

EU: German chancellor Angela Merkel looks ready to adhere to international pressure and grant a temporary increase in the eurozone’s “firewall” to €940 billion ($1.25 trillion) to settle the markets, reported CNBC. The firewall would take the €440 billion in the EFSF rescue fund and combine it with the €500 billion in the permanent ESM. Once the EFSF expires next year, the balance will return to €500 billion.

Lions Gate: “The Hunger Games” was a huge success over the weekend, earning $155 million at U.S. and Canadian movie theaters. These numbers represent the biggest domestic opening for a film that was not a sequel, reported Reuters. The movie also earned an additional $59.3 million in 67 other markets, giving it a global total of $214.3 million.

Insurers and Healthcare: MetLife and Prudential are joining insurers in reviewing a potential bid for ING’s Asian life insurance division, according to The Wall Street Journal. A possible bidding war could ensue, leading to a $6 billion bid for the unit while Bloomberg is reporting that ING is looking for a $7 billion bid.

Tech: Yahoo! Inc. announced in a press release that it has appointed three new independent directors to its board, effective in April. This includes John D. Hayes, Executive Vice President and Chief Marketing Officer, American Express Company; Peter Liguori, former Chief Operating Officer of Discovery Communications, Inc. and former Chairman and President of Entertainment of Fox Broadcasting Network; and Thomas J. McInerney, the outgoing Chief Financial Officer of IAC/InterActiveCorp.

[Editor’s note: the above is a cross post that originally appeared on Wall St. Cheat Sheet.]

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