Tag Archives: GS

Wall Street Breakfast: Must-Know News

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Japanese shares plunge again. A late sell-off in an already weak market caused the Nikkei (EWJ) to close -5.2%, taking the index’s losses since the volatility began late last week to over 14%. Fears about the end of the Fed’s QE program and the market undergoing a correction are cited as reasons for the turbulence, as well as the falling dollar-yen (FXY), although the equity-currency relationship seems to have become reciprocal.

Dish raises Clearwire offer to $4.40 a share. Dish (DISH) has increased its offer for Clearwire (CLWR) to $4.40 a share, easily trumping Sprint’s (S) revised $3.40 bid. The proposal values Clearwire at about $6.3B and comes before its minority shareholders vote on Sprint’s offer on Friday. The bid raises the question as to what Dish is up to, given that it’s also trying to acquire Sprint. Clearwire’s shares were +21.55% premarket.

Berkshire


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Wall Street Breakfast: Must-Know News

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In its quest for cool, Yahoo nabs Tumblr. Yahoo’s (YHOO) board approved the $1.1B acquisition of popular blogging service Tumblr Sunday, the latest step in Marissa Mayer’s quest to give the internet heavyweight a much-needed makeover. AllThingsD notes the deal is indicative of Mayer’s strategy to increase YHOO’s “cool factor” and relevancy with younger audiences. Tumblr, whose founder/CEO David Karp will reportedly stay at YHOO for the foreseeable future, also comes with a treasure trove of user-generated content, something YHOO covets. As for comparisons between Tumblr and YHOO’s ill-fated 1999 acquisition of Geocities, Forbes notes Geocities faltered in part because a flood of ads drove users away; Tumblr seems to be avoiding that pitfall.

Actavis in $8.5B deal for Warner Chilcott. Actavis (ACT) confirmed it will buy Warner Chilcott (WCRX) for $8.5B in a stock for stock transaction Monday morning. The deal will see WCRX


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5 Reasons To Buy Bank Of America

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ByEquity Options Guru:

Large banking institutions don’t typically create a lot of excitement among investors. After the near collapse of our financial system in 2008 and 2009, who could blame investors that decide to pass on companies in the financial sector. But Bank of America (BAC) appears to be situated extremely well in the future. Below are 4 reasons why investors should consider adding Bank of America to their portfolio.

Reason #1 – Fundamentals

Bank of America released its latest fourth quarter and annual report on January 17, 2013, before the market opened. One of the major concerns during the financial collapse was the lack of liquidity and cash that some of these banking institutions truly had. Bank of America has done a nice job of growing their cash pile over the past year. The company ended 2012 with almost $923 billion available, an increase of roughly $85 billion from 2011.

Another


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Dow Doomsday: Why It Might Happen Soon

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By Wall Street Wisdom:

After a precipitous climb in the Month of March, major U.S. stock indexes including the Dow Jones Industrial Average (DIA) and the S&P 500 (SPY) have recently reached record highs. The big questions remains: will the climb continue or is the U.S. stock market about to take a historic plunge?

Many signs point to a plunge for the Dow Jones Industrial Average and major indexes rather than a continued climb. If history is ever a good indicator of forthcoming events, it is absolutely imperative that we pay attentions to these signs, and prepare for the worst. Here are a few reasons why the Major U.S stock indexes could see declines in the coming months.

Sell in May, Go Away

Regular readers of the StockTraders Almanac are familiar with the adage, "Sell in May and go away". This dogma is based on the fact that the period between October and May


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Wall Street Breakfast: Must-Know News

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PC shipments plunge. Global PC shipments slumped 13.9% on year to 76.9M units in Q1, estimates IDC, which blamed the introduction of Microsoft’s (MSFT) Windows 8 for the drop. “The Windows 8 launch not only didn’t provide a positive boost to the PC market, but appears to have slowed (it down),” IDC said. H-P (HPQ) was the market leader even though its share fell to 15.7%, while Lenovo (LNVGY.PK) came in at number two and Dell (DELL) at number three.

Japanese car makers recall 3.4M vehicles. Four Japanese car makers have recalled 3.4M vehicles globally due to a malfunctioning inflator in the front-seat airbags, which are made by Takata (TKTDF.PK), although no injuries or deaths have been reported. Toyota (TM) is recalling 1.73M cars, Honda (HMC) 1.14M, Nissan (NSANY.OB) 480,000 and Mazda (MZDAY.PK) 45,500. Takata’s shares slumped 9% in Tokyo, although Toyota’s rose 2.5%


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Wall Street Breakfast: Must-Know News

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Thermo Fisher bids for Life Technologies. Thermo Fisher Scientific (TMO) reportedly made a binding offer of over $65 a share for genetic testing equipment maker Life Technologies (LIFE) ahead of a bid deadline yesterday. A consortium of private-equity firms, including Blackstone (BX), Carlyle (CG) and KKR (KKR), are also looking to make a proposal despite missing the deadline. Life’s shares closed at $66.19, giving it a market cap of $11.28B.

UnitedHealth hit with $500M jury verdict over hepatitis C cases. A Nevada jury has ordered UnitedHealth (UNH) to pay $500M in punitive damages for failing to properly supervise a doctor who has been blamed for causing two colonoscopy patients to contract hepatitis C by his reuse of anesthetic vials and failure to sterilize equipment. The award comes on top of $24M in compensation that UnitedHealth must pay, and could have wider implications for the healthcare industry.


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Wall Street Breakfast: Must-Know News

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Fed OKs 16 bank capital-return programs but rejects two. The Federal Reserve has approved the capital return plans of 14 banks and rejected two – those of Ally and BB&T (BBT). Goldman Sachs (GS) and JPMorgan (JPM) received conditional approval and were asked to resubmit their programs by the end of Q3 to “address weaknesses in their capital planning processes.” JPM wants to raise its dividend to $0.38 from $0.30 and repurchase $6B in shares. Goldman’s intentions weren’t disclosed.

Samsung shares fall after launch of Galaxy S IV. Samsung’s (SSNLF.PK) shares dropped 2.6% in South Korean trading after the company yesterday launched its new Galaxy S IV flagship smartphone, which looks a lot like its predecessor. Among a host of features, the device has a 5" 1080p display, a 13MP camera, and a text/speech translator for nine languages, as well as eye-tracking and touch-free gesture


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