There are times when it appears bond insurers MBIA and Ambac Financial Group are in a tag-team wrestling match with credit-ratings agencies Moody’s Investors Service and Standard & Poor’s.
A long, drawn-out cage match without a time limit,…
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$$$ Crab hands can barely afford $400 crab legs [DealBook]
$$$ Warm Bodies [GP]
$$$ Pets (as a child, I was denied one of these) [WallStrip]
On Wednesday, we’ll get to see earnings out of Biogen Idec Inc. (NASDAQ: BIIB). The estimates from First Call for the biotech company are $0.80 EPS on $835.16 million in revenues. Estimates for fiscal 2008 are $3.30 EPS on $3.58 billion in revenues. Despite this stock having been much higher, analysts have an average price target north of $61.00. Its hard to blame the analysts for not being more bullish since Biogen failed to attract any serious bidder. Because of that failed bidding process, we’d throw the chart out the window for any long-term patterns and even for longer-term moving…
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Long gone are the days when hedge funds were for just for university foundations and rich guys. As this new ranking from Pensions & Investments shows, 72% of the assets of the largest 10 US hedge fund managers are institutional. None of the names will surprise you. But what’s interesting about the list is that it [...]…
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Pierre Saint-Laurent, head of the Canadian Chapter of the CAIA Association tells us why his hometown of Montreal seems to always be punching above its weight….
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Corporate Acquirers Inc., is a SPAC, or special purpose acquisition company, that submitted an IPO filing today. The filing shows $100 million proceeds targeted at $10.00 per unit, each unit will consist of one share of stock and one warrant with a $7.50 strike price. The total proposed maximum aggregate amount in securities is listed as $211,000,100 in securities, although this number may be merely for filing purposes. The underwriting group is listed as Deutsche Bank Securities and Pali Capital, Inc. It has requested it be listed on the American Stock Exchange and no ticker has been determined. The filing…
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K Road Acquisition Corporation, a SPAC, or special purpose acquisition company, submitted an IPO filing last Friday. The filing shows $300 million proceeds targeted at $10.00 per unit, each unit will consist of one share of stock and one warrant. The total proposed maximum aggregate amount in securities is listed as $345,000,000 in securities, although this number is merely for filing purposes. The lead underwriter is listed as Credit Suisse. It has requested to be listed on American Stock Exchange. The filing specifies that they will focus on the North American energy industry, particularly on power sector businesses or assets….
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A few of the over 2,000 subscribers to our monthly email update have commented that they aren’t receiving this regular list of most popular postings. For those who want to talk to their IT departments about this problem, here’s a heads-up that a monthly “Alpha Mail” was sent out at about 3pm US Eastern Time on [...]…
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Questions should be asked about the recent handling of monetary policy in the Philippines.…
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Questions should be asked about the recent handling of monetary policy in the Philippines.…
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High inflation meant decision was widely expected.…
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The folks at Interlake Capital Management say consumers are going to be a lot more saving, and less spending, in the near-future. “We continue to believe that U.S. consumers are entering a period of forced balanced sheet rebuilding,” they write. “Why forced? Because credit standards are tight…and likely to stay that way. If household balance sheet repair weren’t effectively coerced in some fashion, we don’t think it would happen.”
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Dodd
Federal Reserve Chairman Ben Bernanke is scheduled to meet privately Wednesday with Senate Banking Committee C…
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Would that this sort of thing happened much more often:
Vale, the world’s second-largest mining group, has fired Merrill Lynch as one of its two lead advisers after the investment bank decided not to help finance a potential $90bn takeover bid for Xstrata, the Anglo-Swiss miner.
In recent years the noble reputation of M&A advisory has been besmirched almost beyond repair by banks who have been willing to lend billions of dollars at well-below-market rates just for the sake of being able to see their names rise up the annual M&A league tables. Or, one might say, the noble business of corporate finance has been besmirched beyond repair by investment bankers who are willing to sacrifice their firm’s balance sheet for the greater glory of their overpaid M&A bankers.
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addslashes(Top 10 Most Searched Stocks on TheStreet.com, February 4
NEWS CORP (NYSE: NWS, NWS-A) has just posted earnings of $832 million or $0.27 EPS. Its consolidated operating income for the second quarter was $1.4 billion was up 24% versus the $1.1 billion reported a year ago. Below is the consolidated Operating Income from each unit, with comparisons from Dec-2007 to Dec-2006 and a POS. or NEG. note (positive or negative) ahead. Seven of the Eight units showed positive growth in operating income: NEG. Filmed Entertainment $403M vs. $470M POS. Television $245M vs $112M POS. Cable Network Programming $337 vs $275M POS. Direct Broadcast Satellite Television $62M vs. -$12M POS….
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Australian and Taiwan dollars benefit from interest rate expectations.…
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The Post reported today that in order to compete with the mistresses of Fox Business, CNBC has brought in a new wardrobe stylist to skank things up a bit (previous credits include Backdoor Sluts 7,8 and 9). As the story goes, staid crew necks have been swapped for “form-fitting V-necks” and pants for no pants. While we are all for this new regime, there are a couple things with which we take issue. First, it’s not the Fox anchors that are of the looser persuasion, i…
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