Newspaper wrap-up: UBS reportedly hires Lazard to conduct strategic review
Posted Jun 25th 2008 8:00AM by Laurie Pasternack
Filed under: Newspapers, Magazines, Apple Inc (AAPL), Nokia Corp. (NOK), Research in Motion (RIMM), Goldman Sachs Group (GS), Wachovia Corp (WB)
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MAJOR PAPERS:
- The stock is up 150% over the last year but with its move into the consumer marker BlackBerry maker Research in Motion Limited (NASDAQ: RIMM) is entering the fickle world of consumer trendiness, reported the Wall Street Journal's "Heard on the Street". Analysts are concerned about how big the consumer market can be for them, and then there's Apple Inc (NASDAQ: AAPL) and Nokia Corporation (NYSE: NOK) beating down the consumer path. Smart products will help, but price is an issue, and the shares could face a hard fall.
- The Wall Street Journal reported that Wachovia Corporation (NYSE: WB) acknowledged it has hired The Goldman Sachs Group Inc (NYSE: GS) to study its troubled portfolios of mortgages, a move which many believe indicates the bank is gauging the market value of the loans in order to eventually sell them.
OTHER PAPERS:
- Lazard Ltd (NYSE: LAZ) was hired by UBS AG (NYSE: UBS) to undertake a strategic review of the Swiss bank's businesses, the New York Post learned.
- The New York Post also reported some reported turmoil at Live Nation Inc (NYSE: LYV), following the abrupt departure of the concert promoter's chairman, Michael Cohl. Employees in the unit that was led by Cohl fear that the company will lay some of them off, and CEO Michael Rapino is accused of not being strongly committed to the company's mega-deal strategy.
- The Boston Herald reported that its unions were told the newspaper will lay off 130 to 160 workers, under its new plan to outsource printing operations elsewhere in the state.
Tags: AAPL, Apple, BlackBerry, Boston herald, BostonHerald, Goldman Sachs, GoldmanSachs, GS, LAZ, Lazard, Live Nation, LiveNation, LYV, Michael Cohl, Michael Rapino, MichaelCohl, MichaelRapino, NOK, Nokia, Research in motion, ResearchInMotion, RIMM, strategic review, StrategicReview, UBS, UBS AG, UbsAg, Wachovia, WB
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