FnmCorp posts
FeedPosted Jul 8th 2008 8:00AM by Laurie Pasternack (RSS feed)
Filed under: Newspapers, Magazines, Federal Natl Mtge (FNM), BP p.l.c. ADS (BP)
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MAJOR PAPERS:
- A loss of confidence in the government sponsored mortgage firms Federal National Mortgage Association (NYSE: FNM), or Fannie Mae, and Federal Home Loan Mortgage Corporation (NYSE: FRE), or Freddie Mac, resulted in both companies shares plunging about 15% to 14 year lows. Because the two are the largest providers of funding for mortgages in the U.S., their troubles are significant as both may have to issue billions of dollars in stock to save themselves, diluting current shareholders, according to the Wall Street Journal.
- For 75 years the NFL's Pittsburgh Steelers have been owned by the Rooney family, but that may now change as the Wall Street Journal reported that the family is seeking to sell the football team which is valued at about $1.2B. One potential buyer is Stanley Druckenmiller, a billionaire, and chairman of Duquesne Capital Management in Pittsburgh.
- British Prime Minister Gordon Brown yesterday raised the issue of visa problems facing BP Plc (NYSE: BP) employees in Russia with Russian President Dmitry Medvedev, but Medvedev did not make any concessions on the issue, according to the Financial Times. Some people have suggested that BP's billionaire partners in its Russian joint venture, TNK-BP, have orchestrated the visa problems in order to gain control of the venture.
Posted Apr 15th 2008 9:15AM by Laurie Pasternack (RSS feed)
Filed under: Newspapers, Magazines, Cisco Systems (CSCO), Hewlett-Packard (HPQ), International Business Machines (IBM), Citigroup Inc. (C), Oracle Corp (ORCL), Blackstone Group L.P (BX)
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MAJOR PAPERS:
- A newly published report by Standard & Poor's said that the performance of organizations such as Federal National Mortgage Association (NYSE: FNM), or Fannie Mae, and Federal Home Loan Mortgage Corporation (NYSE: FRE), or Freddie Mac, could directly affect the U.S. economy and the country's credit rating, especially if they have to be rescued by the government, according to the Wall Street Journal's "Credit Markets" column.
- Seagate Technology LLC (NYSE: STX), a hard drive maker, filed a patent infringement suit in San Francisco against STEC Inc (NASDAQ: STEC) over four patents related to technology used to store data on computer chips, the Wall Street Journal reported.
- The Financial Times reported that Citigroup Incorporated (NYSE: C) is allowing private equity groups such as Apollo, The Blackstone Group LP (NYSE: BX) and TPG that are bidding for up to $12B of its leveraged loans to 'cherry-pick' from a wide range of assets with different credit ratings and prices.
WEB SITES:
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Dr. Doom Nouriel Roubini believes the bubble is about to burst
Cramer on BloggingStocks: Investors are rethinking their snap judgments 
Lions Gate Entertainment: Still waiting for cash flow
