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Thu, 17 May 2012 19:29:47 +0000
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Itau BBA, the Brazilian investment bank, has recently landed supporting roles in two of Wall Street’s highest-profile initial public offerings — those of social-networking giant Facebook Inc. and private-equity firm Carlyle Group. |
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Thu, 17 May 2012 11:52:41 +0000
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A gambling acquisition and a batch of dividend increases will likely grab investors’ attention as they sort through the corporate headlines early Thursday. |
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Thu, 17 May 2012 05:01:56 +0000
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With the markets in a bit of an unpredictable position, some are calling for new lows, others a return of the bull, managing the risk in your portfolio is of maximum importance, and we have one idea on how to do it. |
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Thu, 17 May 2012 05:01:21 +0000
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Will Jamie Dimon’s lesson in humility lead him to embrace the four broader lessons of 2008? Will this change not just J.P. Morgan but all the too-big-to-fail banks that control over 90% of America’s banking assets? Will Wall Street finally learn these four essential lessons? |
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Thu, 17 May 2012 05:01:04 +0000
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Former Web powerhouse is the largest holding for the hedge fund, but questions remain about how it can turn Yahoo around now that it has de facto control of the board. |
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Wed, 16 May 2012 23:21:52 +0000
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NEW YORK (MarketWatch) -- John Paulson, the well-known hedge fund investor, late Wednesday recommended owning the shares of Caesars Entertainment Corp. , AngloGold Ashanti Ltd. ADS and CVR Energy . Speaking at the Sohn Investment Conference, Paulson said AngloGold's earnings have been "exploding" and the company is very leveraged to the gold price. He also noted that owning shares of AngloGold is a much more attractive way of gaining exposure to gold than exchange-traded funds. As of March 31, Paulson's Paulson & Co. was the biggest owner of AngloGold's U.S. shares, with a nearly 9% stake. Paulson said his fund has also taken advantage of a merger arbitrage opportunity at CVR Energy, which he called a "gift from Carl" Icahn. For Caesars, Paulson said the stock has very high option value. |
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Wed, 16 May 2012 21:42:44 +0000
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A downgrade from J.P. Morgan on semi-cap firms like KLA-Tencor and Lam Research put the sector into the red. Social network stocks lifted by Facebook ‘halo’ as firm adds shares to planned IPO. |
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Wed, 16 May 2012 20:04:20 +0000
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Energy stocks pile on bigger losses than the broad equities market as crude oil prices drop below $94 a barrel for the first time since the fall of 2011, while Chesapeake Energy Corp. shares stumble. |
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Wed, 16 May 2012 18:04:08 +0000
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--CEO thinks regulators would be willing to consider wireless industry mergers --Sprint is focused on $5 billion network upgrade project --CEO would consider a takeover opportunity if the timing was right For Sprint Nextel Corp. S, now isn't the time for a merger. "Clearly, the time is not ideal based upon where our shares are currently trading," said Chief Executive Dan Hesse on a conference call with analysts on Wednesday. |
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Wed, 16 May 2012 18:02:36 +0000
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NEW YORK (MarketWatch) -- A judge on Wednesday said AMR Corp. (AAMRQ) can unilaterally change the employment agreements of its nonunionized passenger-service agents, shooting down the agents' demand to be treated on equal footing with their unionized brethren. |
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Thu, 17 May 2012 21:43:14 +0000
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The following are the M&A deals, rumors and chatter circulating on Wall Street for Thursday May 17, 2012:
Agilent to Acquire Dako for $2.2B
The Deal:
Agilent Technologies (NYSE: A) and EQT, the Sweden-based private equity group, today announced the execution of a definitive agreement for Agilent to acquire Dako, the Denmark-based cancer diagnostic company. The $2.2 billion acquisition (on a debt-free basis) is the largest in Agilent's history.
“In the rapidly growing diagnostics market, Dako's products and capabilities are a strategic complement to Agilent's existing offerings,” said Bill Sullivan, Agilent president and chief executive officer. “Dako is one of the world's leading providers of cancer diagnostics tools, and together we will be able to develop a wider range of products that help in the fight against cancer.”
“Agilent's strategy in acquiring Dako is about strengthening the company's presence in life science and about revenue growth,” said Sullivan. “Dako employs extremely talented people with specialized expertise that we highly value. Their knowledge and experience will be very important as we move forward together.”
The acquisition is expected to close within the next 60 days, subject to the satisfaction of customary closing conditions.
Agilent closed at $39.63 on Thursday, a loss of 0.33% on 1.7 ...  |
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Thu, 17 May 2012 21:11:18 +0000
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BIDZ.com, Inc. (Nasdaq: BIDZ), a leading online retailer of jewelry, today announced that it has entered into a definitive merger agreement with Glendon Group, Inc. ("Glendon Group") to be acquired for $0.78 ...  |
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Thu, 17 May 2012 20:32:17 +0000
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Beacon Roofing Supply, Inc. (Nasdaq: BECN) announced today that it has reached an agreement to acquire Cassady Pierce Company, a distributor of residential and commercial ...  |
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Thu, 17 May 2012 20:10:28 +0000
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DCT Industrial Trust Inc. ® (NYSE: DCT) today announced it has acquired two Class A industrial buildings totaling 98,000 square feet in Houston, known as DCT Claymoore Center.
Located in ...  |
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Thu, 17 May 2012 18:17:41 +0000
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Today, Financial Times released an article that brought up companies, including Chevron (NYSE: CVX), Total (NYSE: TOT), Devon (NYSE: DVN), Apache (NYSE: APA) and Occidental (NYSE: OXY), that could be interested in purchasing Chesapeake's (NYSE: CHK) assets. Asset sales could help Chesapeake pay down its more than $10 billion of debt.
Total seems to offer the highest potential as an acquirer of Chesapeake, given that the company has purchased Chesapeake's assets in the past, and that it has one of the largest cash ...  |
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Thu, 17 May 2012 16:17:27 +0000
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David Einhorn of Greenlight Capital is not a popular man within the offices of Martin Marietta Materials (NYSE: MLM), after he slammed the company at the annual Ira Sohn Investment Conference, causing it to instantly tank 10%. It is currently trading down 8%.
"Recent earnings benefited from one time fiscal stimulus that is about to wind down," Einhorn said at the conference, obviously deciding that MLM is his new favorite company to short.
The rumor earlier in the day had been that Einhorn was going to short Herbalife (NYSE: HLF), but that company's stock is surging 9% on Thursday.
The scary thing for MLM is that Einhorn is rarely wrong. He famously shorted Lehman Brothers just prior to that bank's demise, and more recently he shorted Green Mountain Coffee Roasters (NASDAQ: GMCR).
However, Martin Marietta responded to the comments directly to Benzinga, telling us ...  |
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Thu, 17 May 2012 14:43:14 +0000
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It was revealed on Thursday that Human Genome Sciences (NASDAQ: HGSI) is in talks with, in its own words "major" pharmaceutical and biotechnology companies in a bid to do whatever it can to avoid a hostile takeover by GlaxoSmithKline (NYSE: GSK).
It's a fascinating period of time for HGSI, who claim to have entered into confidentiality agreements with a number of unnamed parties, and is currently providing opportunities to enter into due diligence reviews.
As we reported last week GSK made an initial $2.6 million tender offer after HGSI turned down a takeover approach.
GSK's offer for HGSI became public knowledge in April, with HGSI shares falling 76% from the company's peak in 2011. It is certainly a generous offer, no matter the noises coming out of HGSI, valuing that company at 11 times the estimated 2012 sales
"Shareholders should have the opportunity to decide for themselves on the merits of the ...  |
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Thu, 17 May 2012 14:36:31 +0000
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Boyd Gaming (NYSE: BYD) announced on Thursday morning that it has entered into a definitive agreement to acquire Peninsula Gaming, LLC for total consideration of $1.45 billion. The acquisition will bolster Boyd's existing gaming portfolio with five new properties. These include the Kansas Star Casino near Wichita, Kansas; Diamond Jo Casino in Dubuque, Iowa; Diamond Jo Worth in Northwood, Iowa; Evangeline Downs Racetrack & Casino in Opelousas, Louisiana; and Amelia Belle Casino in Amelia, Louisiana.
The stock market is reacting favorably to the announcement from Boyd, and the stock was last trading up ...  |
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Thu, 17 May 2012 13:39:52 +0000
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Atlas Resource Partners, L.P. (NYSE: ARP) will acquire approximately 250 Bcfe of proved reserves and associated assets in the Barnett Shale in Texas for approximately $184 million in ARP units (based on ARP's closing price on May 16, 2012) through entry into a definitive agreement with Titan Operating, L.L.C. (“Titan”), a privately held company based in Fort Worth, Texas. The transaction has been approved by ARP's board of directors and will be effective as of January 1, 2012, with an expected closing in July 2012, subject to customary closing conditions ...  |
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Thu, 17 May 2012 13:21:35 +0000
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Lincoln Electric Holdings, Inc. (Nasdaq: LECO) announced today that it has acquired Wayne Trail Technologies, Inc., a privately held Ohio-based manufacturer of automated systems and tooling, serving a wide range of applications ...  |
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