BloggingStocks http://www.bloggingstocks.com BloggingStocks http://www.blogsmithmedia.com/http://www.bloggingstocks.com/media/feedlogo.gif BloggingStocks http://www.bloggingstocks.com en-us Copyright 2012 Weblogs, Inc. The contents of this feed are available for non-commercial use only. Blogsmith http://www.blogsmith.com/<![CDATA[Analyst Calls: AMTD, BPL, BX, ERIC, FTE, GGP, HCBK, HCN, NE, PPL, TUP ...]]>http://www.bloggingstocks.com/2011/03/03/analyst-upgrades-downgrades/http://www.bloggingstocks.com/2011/03/03/analyst-upgrades-downgrades/http://www.bloggingstocks.com/2011/03/03/analyst-upgrades-downgrades/#commentsFiled under: , , , , ,

Analyst Upgrades

  • General Growth (GGP) to outperform from neutral at Credit Suisse.
  • PPL Corp. (PPL) to outperform from market perform at FBR Capital.
  • Hudson City Bancorp (HCBK) to neutral from reduce at Nomura.
  • Hologic (HOLX) to conviction buy from buy at Goldman.
  • Cognex (CGNX) to overweight from neutral at Piper Jaffray.
  • Buckeye Partners (BPL) to outperform from market perform at Wells Fargo.
  • Ericsson (ERIC) and Health Care REIT (HCN) to buy from neutral and Olin (OLN) to neutral from sell at UBS.
  • Nalco (NLC) to overweight from neutral at JPMorgan.
  • Watts Water (WTS) to buy from hold at BB&T.
  • McDermott (MDR) to buy from neutral at Pritchard.

Continue reading Analyst Calls: AMTD, BPL, BX, ERIC, FTE, GGP, HCBK, HCN, NE, PPL, TUP ...

Analyst Calls: AMTD, BPL, BX, ERIC, FTE, GGP, HCBK, HCN, NE, PPL, TUP ... originally appeared on BloggingStocks on Thu, 03 Mar 2011 11:20:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>AGNAllerganAMTDanalyst upgradesBlackstoneBPLBuckeye PartnersBXCGNXCognexdowngradesERICEricssonFrance TelecomFTEGGPHCBKHCNHealth Care REITHologicHOLXHudson CityinitiationsinthenewsLHCGMcDermottMDRNalcoNENLCOlinOLNPPLRRRTCOTD AmeritradeTUPTupperwareURIWatts WaterWTSThu, 03 Mar 2011 11:20:00 EST<![CDATA[Analyst Calls: AMD, BCS, BJ, CVC, EMR, GE, NVLS, PCG, PH, VLO, XOM ...]]>http://www.bloggingstocks.com/2011/01/10/analyst-upgrades-downgrades/http://www.bloggingstocks.com/2011/01/10/analyst-upgrades-downgrades/http://www.bloggingstocks.com/2011/01/10/analyst-upgrades-downgrades/#commentsFiled under: , , , , , , ,

Analyst Upgrades

  • General Electric (GE) and Barclays (BCS) to buy from neutral at UBS.
  • Warnaco (WRC) to outperform from market perform and Melco Crown (MPEL) to market perform from underperform at Wells Fargo.
  • Parker-Hannifin (PH) and Emerson Electric (EMR) to buy from neutral at Goldman.
  • AMD (AMD) to buy from neutral at Nomura.
  • Novellus (NVLS) and Sherwin-Williams (SHW) to equal weight from underweight at Morgan Stanley.
  • OpenTable (OPEN) to outperform from market perform at Morgan Keegan.
  • Skilled Healthcare (SKH) to buy from hold at Jefferies.
  • Lear (LEA) to overweight from equal weight at Barclays.
  • Adobe (ADBE) to buy from neutral at BofA/Merrill.

Continue reading Analyst Calls: AMD, BCS, BJ, CVC, EMR, GE, NVLS, PCG, PH, VLO, XOM ...

Analyst Calls: AMD, BCS, BJ, CVC, EMR, GE, NVLS, PCG, PH, VLO, XOM ... originally appeared on BloggingStocks on Mon, 10 Jan 2011 12:00:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>ADBEAdobeAMDanalyst upgradesBarclaysBCSBJBJs WholesaleCablevisionCECOCOCOCPSTCVCdowngradesEIXEmerson ElectricEMRExxon MobilFTOGEGeneral ElectricGGPHGGhhgregginitiationsinthenewsLEALearLocal.comLOCMMelco CrownMPELNovellusNVLSOPENOpenTableParker-HannifinPCGPentairPHPNRPPGSBRASherwin-WilliamsSHWSKHTXIValeroVLOWarnacoWMSWRCXOMMon, 10 Jan 2011 12:00:00 EST<![CDATA[Analyst Calls: AEO, AMP, DE, EBAY, FDX, FRO, FSLR, HBC, SPWR, TSO ...]]>http://www.bloggingstocks.com/2010/11/29/analyst-upgrades-downgrades/http://www.bloggingstocks.com/2010/11/29/analyst-upgrades-downgrades/http://www.bloggingstocks.com/2010/11/29/analyst-upgrades-downgrades/#commentsFiled under: , , , , , ,

Analyst Upgrades

  • Deere (DE) to outperform from market perform at Wells Fargo.
  • American Eagle (AEO) to buy from neutral at Janney Capital.
  • FedEx (FDX) and Shaw (SJR) to outperform from neutral at Credit Suisse.
  • Superior Energy (SPN) and Rowan Cos. (RDC) to overweight from equal weight at Barclays.
  • Tesoro (TSO) to outperform from neutral at Macquarie.
  • Mechel (MTL) to buy from neutral at Goldman.
  • SunPower (SPWRA), LDK Solar (LDK) and First Solar (FSLR) to buy from hold at ThinkEquity.

Continue reading Analyst Calls: AEO, AMP, DE, EBAY, FDX, FRO, FSLR, HBC, SPWR, TSO ...

Analyst Calls: AEO, AMP, DE, EBAY, FDX, FRO, FSLR, HBC, SPWR, TSO ... originally appeared on BloggingStocks on Mon, 29 Nov 2010 12:10:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>A123AEOAMBOAmerican EagleAmeripriseAMPanalyst upgradesAONEDEDeeredowngradesEBAYFDXFedExFirst SolarFROFrontlineFSLRGGPHBCHSBCinitiationsinthenewsLDKLYBMechelMTLNetSpendNTSPRDCShawSHPSHPGYSJRSmurfit-StoneSPNSPWRSSCCSunPowerTemple-InlandTesoroTINTSOTWMon, 29 Nov 2010 12:10:00 EST<![CDATA[Closing Bell: Across the Board Wins for the Markets (SPG, GGP, NBG, BPAX, TIVO, SIRI, GS)]]>http://www.bloggingstocks.com/2010/05/03/closing-bell-across-the-board-wins-for-the-markets-spg-ggp-n/http://www.bloggingstocks.com/2010/05/03/closing-bell-across-the-board-wins-for-the-markets-spg-ggp-n/http://www.bloggingstocks.com/2010/05/03/closing-bell-across-the-board-wins-for-the-markets-spg-ggp-n/#commentsFiled under: ,

If you looked at the overseas trading markets versus the US this morning, this was one of those days that could have gone either way. This followed a financial rescue package for Greece, and also followed the biggest gain in US manufacturing in almost six years, that even with a rise in construction spending.

Here were today's unofficial closing bell levels:

Dow 11,151.83 +143.22 (1.30%)
S&P 500 1,202.26 +15.58 (1.31%)
Nasdaq 2,498.74 +37.55 (1.53%)

Top Analyst Calls

Continue reading Closing Bell: Across the Board Wins for the Markets (SPG, GGP, NBG, BPAX, TIVO, SIRI, GS)

Closing Bell: Across the Board Wins for the Markets (SPG, GGP, NBG, BPAX, TIVO, SIRI, GS) originally appeared on BloggingStocks on Mon, 03 May 2010 16:20:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>BPAXfeatureGGPGSNBGSIRISPGTIVOMon, 03 May 2010 16:20:00 EST<![CDATA[Simon Properties Still Wants a Piece of GGP]]>http://www.bloggingstocks.com/2010/04/15/simon-properties-still-wants-a-piece-of-ggp/http://www.bloggingstocks.com/2010/04/15/simon-properties-still-wants-a-piece-of-ggp/http://www.bloggingstocks.com/2010/04/15/simon-properties-still-wants-a-piece-of-ggp/#commentsFiled under: , ,

SPG makes another offer for GGPEarlier this year, General Growth Properties Inc. (GGP) rejected a $10 billion buyout offer from rival Simon Property Group (SPG), but Simon Property is not giving up completely. Wednesday Simon Property announced it would up its offer to $10 per share for GGP in exchange for 25% of the company.

The offer that was quickly rejected a couple of months ago placed a $9 value on GGP stock, and rose some anti-trust concerns.

Continue reading Simon Properties Still Wants a Piece of GGP

Simon Properties Still Wants a Piece of GGP originally appeared on BloggingStocks on Thu, 15 Apr 2010 10:00:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>antitrustbankruptcyBPOBrookfield Asset ManagementbuyoutsGeneral Growth PropertiesGGPinthenewsmallsreal estateshoppingSimon Property GroupSPGThu, 15 Apr 2010 10:00:00 EST<![CDATA[General Growth Properties Set to Rejoin NYSE]]>http://www.bloggingstocks.com/2010/03/02/general-growth-properties-set-to-rejoin-nyse/http://www.bloggingstocks.com/2010/03/02/general-growth-properties-set-to-rejoin-nyse/http://www.bloggingstocks.com/2010/03/02/general-growth-properties-set-to-rejoin-nyse/#commentsFiled under: ,

General Growth Properties (GGWPQ), the mall operator that shuffled into bankruptcy protection last year, says it has applied to list its shares on the New York Stock Exchange (NYSE) once again. The company hopes to begin trading on the Big Board as of March 5, using its previous ticker of GGP.

"Trading again on the NYSE will mark an important milestone in GGP's restructuring process," said CEO Adam Metz in a press release. The shares currently trade over the counter.

Continue reading General Growth Properties Set to Rejoin NYSE

General Growth Properties Set to Rejoin NYSE originally appeared on BloggingStocks on Tue, 02 Mar 2010 11:40:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>Adam MetzBAMbankruptcyBrookfield Asset ManagementBruce Berkowitzfeaturedfourth quarter earningsGeneral Growth PropertiesGGPGGWPQinthenewsNYSESimon Property GroupSPGTue, 02 Mar 2010 11:40:00 EST<![CDATA[General Growth CEO: Everything's great and we filed for bankruptcy]]>http://www.bloggingstocks.com/2009/04/19/general-growth-ceo-everythings-great-and-we-filed-for-bankrupt/http://www.bloggingstocks.com/2009/04/19/general-growth-ceo-everythings-great-and-we-filed-for-bankrupt/http://www.bloggingstocks.com/2009/04/19/general-growth-ceo-everythings-great-and-we-filed-for-bankrupt/#commentsFiled under: ,

General Growth Properties made history last week with the largest real estate bankruptcy in history, and CEO Tom Nolan appeared on CNBC to explain the move (see video below).

According to Nolan, everything is basically fine. They're able to make their interest payments and tenants aren't leaving. The entire problem is the company's inability to rollover its $27 billion debt load it accumulated acquiring the properties that helped make it the second largest mall operator in the country.

Continue reading General Growth CEO: Everything's great and we filed for bankruptcy

General Growth CEO: Everything's great and we filed for bankruptcy originally appeared on BloggingStocks on Sun, 19 Apr 2009 11:10:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>bankruptcyGeneral Growth PropertiesGGPTom NolanSun, 19 Apr 2009 11:10:00 EST<![CDATA[Before the bell: Stocks higher after JPMorgan's beat, despite lower housing data]]>http://www.bloggingstocks.com/2009/04/16/before-the-bell-stocks-mixed-to-lower-despite-jpmorgan-beat-ah/http://www.bloggingstocks.com/2009/04/16/before-the-bell-stocks-mixed-to-lower-despite-jpmorgan-beat-ah/http://www.bloggingstocks.com/2009/04/16/before-the-bell-stocks-mixed-to-lower-despite-jpmorgan-beat-ah/#commentsFiled under: , , , , , ,

U.S. stock futures were mixed to lower Thursday morning, indicating Wall Street could have yet another slow start despite J.P. Morgan Chase (NYSE: JPM) beating analyst earnings estimates and Nokia (NYSE: NOK) meeting them. Some housing data will also be in focus this morning, as is news of General Growth Properties (NYSE: GGP) filing for Chapter 11.

[Update 8:50 am: Futures turned higher despite housing data coming in lower than expected housing starts and building permits, as well as another decline in jobless claims.]

Meanwhile, the number of American households threatened with losing their homes jumped 24% in the first three months of this year. And this number could rise further as major lenders restart foreclosures after a temporary break. However, President Barack Obama's plan to help up to 9 million borrowers avoid foreclosure could help.

Continue reading Before the bell: Stocks higher after JPMorgan's beat, despite lower housing data

Before the bell: Stocks higher after JPMorgan's beat, despite lower housing data originally appeared on BloggingStocks on Thu, 16 Apr 2009 07:35:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>ggpjpmnokThu, 16 Apr 2009 07:35:00 EST<![CDATA[General Growth Properties files for bankruptcy protection]]>http://www.bloggingstocks.com/2009/04/16/general-growth-properties-files-for-bankruptcy-protection/http://www.bloggingstocks.com/2009/04/16/general-growth-properties-files-for-bankruptcy-protection/http://www.bloggingstocks.com/2009/04/16/general-growth-properties-files-for-bankruptcy-protection/#commentsFiled under:

Early this morning, mall owner and operator General Growth Properties announced that it filed for bankruptcy protection. The company noted that it couldn't "reach an out-of-course consensus" on how to deal with its debt. Roughly 158 regional shopping centers also filed for bankruptcy protection.

In February, GGP's past due debt totaled $1.18 billion and another $4.1 billion debt could be accelerated. The company expects to pursue a plan of reorganization that should extend mortgage maturities and cut the firms corporate debt. GGP received a commitment for a debtor-in-possession financing facility of roughly $375 million from Pershing Square Capital Management.

Continue reading General Growth Properties files for bankruptcy protection

General Growth Properties files for bankruptcy protection originally appeared on BloggingStocks on Thu, 16 Apr 2009 07:00:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>bankruptcychapter 11Chapter11general growth propertiesGeneralGrowthPropertiesggpinthenewsThu, 16 Apr 2009 07:00:00 EST<![CDATA[Analyst upgrades, downgrades and initiations: MSFT, AXP, RBS, FIATY, NFLX ...]]>http://www.bloggingstocks.com/2009/04/07/analyst-upgrades-downgrades-and-initiations-msft-axp-rbs-fi/http://www.bloggingstocks.com/2009/04/07/analyst-upgrades-downgrades-and-initiations-msft-axp-rbs-fi/http://www.bloggingstocks.com/2009/04/07/analyst-upgrades-downgrades-and-initiations-msft-axp-rbs-fi/#commentsFiled under: , , , , , , , ,

Analyst upgrades:
  • RBC Capital believes software stock fundamentals have bottomed and that the next several quarters should see reduced earnings risk, easier comps, stimulus spending benefits, and lower FX headwinds. The firm upgraded Microsoft (NASDAQ: MSFT), Taleo (NASDAQ: TLEO), Digital River (NASDAQ: DRIV) and Symantec (NASDAQ: SYMC) to Outperform from Sector Perform.
  • Rodman & Renshaw upgraded Provectus (OTC: PVCT) to Outperform from Market Perform. The firm has increased conviction in the success of the company's ongoing trial of PV-10 in melanoma.
  • Citigroup upgraded shares of American Express (NYSE: AXP) to Hold from Sell as it believes the risk/reward is balanced at current levels and that there are signs of potential credit market stabilization. The firm raised its price target on shares to $16 from $9.
  • Brinker (NYSE: EAT) was upgraded to Outperform from Market Perform at Wachovia.
  • PG&E (NYSE: PCG) was raised to Outperform from Neutral at Credit Suisse.
  • Federal-Mogul (NASDAQ: FDML) was lifted to Conviction Buy from Buy at Goldman.

Continue reading Analyst upgrades, downgrades and initiations: MSFT, AXP, RBS, FIATY, NFLX ...

Analyst upgrades, downgrades and initiations: MSFT, AXP, RBS, FIATY, NFLX ... originally appeared on BloggingStocks on Tue, 07 Apr 2009 10:50:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>adpaxpcbtcfrdriveateqixfdmlfiatyfisvggpinthenewsmsftnflxnktrnokntlspayxpcgpvctrbssymctleoTue, 07 Apr 2009 10:50:00 EST<![CDATA[Doomsday Scenario: Hedge funds front running clients, Twitter bubble peaks]]>http://www.bloggingstocks.com/2009/03/20/doomsday-scenario-hedge-funds-front-running-clients-twitter-bu/http://www.bloggingstocks.com/2009/03/20/doomsday-scenario-hedge-funds-front-running-clients-twitter-bu/http://www.bloggingstocks.com/2009/03/20/doomsday-scenario-hedge-funds-front-running-clients-twitter-bu/#commentsFiled under: , , , ,

It's Friday, and a big storm is approaching the West Coast, a fitting end to a wild week. The SEC is investigating whether certain hedge funds allowed employees and favored clients to redeem their money before less favored clients. If allegations are true, then this gives new meaning to the term "front running", and should prove a great way to rebuild the reputation of an industry already viewed as having questionable ethics.

Continue reading Doomsday Scenario: Hedge funds front running clients, Twitter bubble peaks

Doomsday Scenario: Hedge funds front running clients, Twitter bubble peaks originally appeared on BloggingStocks on Fri, 20 Mar 2009 15:50:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>ackmanbankruptcyfront runnerFrontRunnergeneral growthgeneral growth propertiesGeneralGrowthGeneralGrowthPropertiesGGPhedgehedge fundsHedgeFundshome pricesHomePriceshousingmallsnorthern californiaNorthernCaliforniareal estateRealEstateFri, 20 Mar 2009 15:50:00 EST<![CDATA[Doomsday Scenario: Just the numbers, ma'am]]>http://www.bloggingstocks.com/2009/03/04/doomsday-scenario-just-the-numbers-maam/http://www.bloggingstocks.com/2009/03/04/doomsday-scenario-just-the-numbers-maam/http://www.bloggingstocks.com/2009/03/04/doomsday-scenario-just-the-numbers-maam/#commentsFiled under: , , ,

Even while dancing on the edge of the Great Abyss one should keep one's eye on the numbers. In this case, the key indicators that presage an economy at risk of totally imploding. Sure, the auto sales numbers were no worse than grim expectations and the ISM manufacturing number was actually a positive. But, oh, we have lots of nasty numbers to go around. Start with the RevPar number. That's short for revenue per available room at hotels and is a solid indicator of the health of the travel industry, as well as the state of business travel spending. The number? Down a stunning 15.3% in the month of January, year-over-year.

Continue reading Doomsday Scenario: Just the numbers, ma'am

Doomsday Scenario: Just the numbers, ma'am originally appeared on BloggingStocks on Wed, 04 Mar 2009 07:00:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>CMBScommerical real estateggphotelshousing marketHousingMarketmallsresidential real estateRMBStravelWed, 04 Mar 2009 07:00:00 EST<![CDATA[General Growth Properties: Too bad to fail and possible happy ending?]]>http://www.bloggingstocks.com/2009/02/23/general-growth-properties-too-bad-to-fail-and-possible-happy-en/http://www.bloggingstocks.com/2009/02/23/general-growth-properties-too-bad-to-fail-and-possible-happy-en/http://www.bloggingstocks.com/2009/02/23/general-growth-properties-too-bad-to-fail-and-possible-happy-en/#commentsFiled under: , ,

It's a rough time to be a shopping center company and, arguably, General Growth Properties (NYSE: GGP) is in the worst shape of the lot. The company faces a whopping $27 billion in maturing debt coming due over the next four years. On Friday, Feb 20, it announced it had defaulted on loans. The Piqqem Sentiment on the company is negative. Shares that traded over $60 per share two years ago are now below 50 cents and are a favorite football of speculators betting that the syndicate of lenders will throw GGP a lifeline rather than eat the bankruptcy costs.

There might be a happy ending to this story, however. The company reports earnings on February 23 and it will certainly be an interesting report -- most likely grim numbers as staggering retailers pass on their shopping plague to the biggest shopping center landlord.

Continue reading General Growth Properties: Too bad to fail and possible happy ending?

General Growth Properties: Too bad to fail and possible happy ending? originally appeared on BloggingStocks on Mon, 23 Feb 2009 09:00:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>Chapter 11Chapter11CMBScommerical real estateearningsGeneral Growth Propertiesggpretailersshopping centersMon, 23 Feb 2009 09:00:00 EST<![CDATA[Is General Growth Properties bankrupt yet?]]>http://www.bloggingstocks.com/2009/02/13/is-general-growth-properties-bankrupt-yet/http://www.bloggingstocks.com/2009/02/13/is-general-growth-properties-bankrupt-yet/http://www.bloggingstocks.com/2009/02/13/is-general-growth-properties-bankrupt-yet/#commentsFiled under: ,

Mall operator General Growth Properties, Inc. (NYSE: GGP) has seen its share price plunge more than 98% during the past year, with the equity recently plummeting into penny-stock territory amid concerns about a possible bankruptcy filing. Maybe I'm just an impatient member of the MTV generation, but it struck me today that these Chapter 11 rumors have been swirling around Wall Street for what seems like ages. Can we get some closure on this soap opera, GGP?

Well, according to a report today in the Wall Street Journal, GGP's deadline to renegotiate a $900 million loan on two luxury malls in Las Vegas came and went Thursday with no resolution. The mall mogul is still in talks with its lenders to negotiate a new deal -- but it's now haggling outside the confines of its forbearance agreement, which means those lenders, led by Deutsche Bank (NYSE: DB), can demand payment at any time.

Continue reading Is General Growth Properties bankrupt yet?

Is General Growth Properties bankrupt yet? originally appeared on BloggingStocks on Fri, 13 Feb 2009 13:40:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>bankruptcychapter 11Chapter11dbdebtdeutsche bankDeutscheBankgeneral growth propertiesGeneralGrowthPropertiesggpinthenewsloanFri, 13 Feb 2009 13:40:00 EST<![CDATA[General Growth Properties stands at death's door]]>http://www.bloggingstocks.com/2009/02/04/general-growth-properties-stands-at-deaths-door/http://www.bloggingstocks.com/2009/02/04/general-growth-properties-stands-at-deaths-door/http://www.bloggingstocks.com/2009/02/04/general-growth-properties-stands-at-deaths-door/#commentsFiled under: ,

General Growth Properties (NYSE: GGP) could be nearing the end of the line.

The company has been unable to work out an extension of a $225 million loan arranged by Goldman Sachs (NYSE: GS). The payment deadline passed on Monday, and so far there has been no announcement of an extension. According (subscription required) to The Wall Street Journal, "Goldman has at least one unidentified partner in the loan who has balked at providing an extension, according to people familiar with the talks."

If Goldman elects to foreclose on the real estate collateralizing the loan, it could trigger a wave of cross-defaults that would leave the company with no choice but to file for bankruptcy protection.

A General Growth bankruptcy would be one of the largest in real estate history, and could wreak havoc on the already beaten up commercial real estate market.

Shares of General Growth are relatively unchanged in trading today as investors wait around for the big news. In the next few days General Growth will announce either another reprieve or a bankruptcy filing.

General Growth Properties stands at death's door originally appeared on BloggingStocks on Wed, 04 Feb 2009 13:20:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>General Growth PropertiesGeneralGrowthPropertiesGGPHousinginthenewsReal estateRealEstateWed, 04 Feb 2009 13:20:00 EST<![CDATA[General Growth Properties changes bankruptcy lawyer]]>http://www.bloggingstocks.com/2009/01/05/general-growth-properties-changes-bankruptcy-lawyer/http://www.bloggingstocks.com/2009/01/05/general-growth-properties-changes-bankruptcy-lawyer/http://www.bloggingstocks.com/2009/01/05/general-growth-properties-changes-bankruptcy-lawyer/#commentsFiled under:

General Growth Properties (NYSE: GGP) has changed its bankruptcy counsel from Sidley Austin LLP to hire Weil, Gotshal & Manges LLP, according to The Wall Street Journal (subscription required). The latter firm has also worked on the Lehman Bros. bankruptcy.

The company has warned that it may have to file for bankruptcy if it can't find a way to restructure the more than $27 billion in debt that will come due over the next few months.

Back in January 2008, then-Marketwatch columnist Herb Greenberg raised red flags over General Growth Properties' debt load. The company responded with a press release saying that "The Company is absolutely not in any danger of having to contemplate a bankruptcy filing, and the Company unequivocally has no intention of doing so." The company added that it had assets that "can be used through a variety of means to raise substantially more capital than could be required, even under the most "doomsday" of future possible scenarios for how the current commercial retail real estate markets might evolve over the next two years."

Well here's the doomsday scenario and there are the bankruptcy lawyers. But don't worry: The press release added that "Actual results may differ materially from the results suggested by these forward-looking statements, for a number of reasons."

General Growth Properties changes bankruptcy lawyer originally appeared on BloggingStocks on Mon, 05 Jan 2009 15:15:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>debt loadDebtLoadGeneral Growth PropertiesGeneralGrowthPropertiesGGPgotshal mangesherb greenbergHerbGreenbergweilMon, 05 Jan 2009 15:15:00 EST<![CDATA[Ackman ups stake in General Growth Properties]]>http://www.bloggingstocks.com/2008/12/10/ackman-ups-stake-in-general-growth-properties/http://www.bloggingstocks.com/2008/12/10/ackman-ups-stake-in-general-growth-properties/http://www.bloggingstocks.com/2008/12/10/ackman-ups-stake-in-general-growth-properties/#commentsFiled under:

With big bets on the collapses of companies like Fannie Mae (NYSE: FNM) and Freddie Mac (NYSE: FRE) and MBIA, Inc. (NYSE: MBI) and Ambac (NYSE: ABK), William Ackman profited handsomely with his bets on the decline of the housing market under the weight of too much risky debt.

Now he's taking the other side of that idea. In an amended 13-D filed with the SEC on Monday, Ackman's Pershing Square Capital Management disclosed that swap contracts with several institutions have raised its stake in General Growth Properties (NYSE: GGP) by an additional 18.1%, on top of the 7.5% stake he reported last month.

General Growth Properties owns and/or operates 200 regional shopping malls in 44 states, and had been one of the most highly-valued REITs in the market. But a heavy debt load and economic woes sent the companies stock price from more than $49 toward the end of last year to a low of 24 cents last month.

The company has major issues with its creditors and has attracted the scorn of credit rating agencies.

Given Ackman's record on real estate and debt predictions of late, it's hard to make the case for betting against him when he finally expresses some bullishness on a distressed company.

Ackman ups stake in General Growth Properties originally appeared on BloggingStocks on Wed, 10 Dec 2008 17:15:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>General Growth PropertiesGeneralGrowthPropertiesGGPWilliam AckmanWilliamAckmanWed, 10 Dec 2008 17:15:00 EST<![CDATA[Year-to-date winners and losers of the S&P 500 Index]]>http://www.bloggingstocks.com/2008/11/26/year-to-date-winners-and-losers-of-the-sandp-500-index/http://www.bloggingstocks.com/2008/11/26/year-to-date-winners-and-losers-of-the-sandp-500-index/http://www.bloggingstocks.com/2008/11/26/year-to-date-winners-and-losers-of-the-sandp-500-index/#commentsFiled under: , , , , , , , , ,

With the end of the year fast approaching, it's time to start putting together "best of" and "worst of" lists for 2008. This entry is a little bit of both, but it's admittedly heavy on the "worst of." Among the current members of the S&P 500 Index (SPX), just 11 were sitting on a year-to-date gain as of the close of trading on Monday, November 24. Since Big Lots (NYSE: BIG) is unchanged, that means we have a whopping 488 securities sitting on a loss for the year.

Let's start with the bad news first. Among the worst-performing stocks on the SPX, the six top spots are claimed by stocks in the Insurance and Real Estate sectors. General Growth Properties (NYSE: GGP) has the dubious honor of dropping nearly 98% on the year, and -- not surprisingly -- American International Group (NYSE: AIG) isn't far behind.

Continue reading Year-to-date winners and losers of the S&P 500 Index

Year-to-date winners and losers of the S&P 500 Index originally appeared on BloggingStocks on Wed, 26 Nov 2008 10:00:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>barr pharmaceuticalsBarrPharmaceuticalsbest stocks 2008BestStocks2008bigbig lotsBigLotsfeaturedgeneral growth propertiesGeneralGrowthPropertiesggpnational cityNationalCitynccSP 500 IndexSp500IndexSPXworst stocks 2008WorstStocks2008Wed, 26 Nov 2008 10:00:00 EST<![CDATA[Analyst calls: WFMI, SOV, STD, QI, NWS, ENS, GILD, ADBE]]>http://www.bloggingstocks.com/2008/11/06/analyst-calls-wfmi-sov-std-qi-nws-ens-gild-adbe/http://www.bloggingstocks.com/2008/11/06/analyst-calls-wfmi-sov-std-qi-nws-ens-gild-adbe/http://www.bloggingstocks.com/2008/11/06/analyst-calls-wfmi-sov-std-qi-nws-ens-gild-adbe/#commentsFiled under: , , , , , ,

Analyst upgrades:
  • Citigroup upgraded shares of Sovereign Bancorp (NYSE: SOV) to Buy from Hold on their belief Sovereign will merge with Banco Santander (NYSE: STD) according to the terms on their October 13 agreement.
  • Jefferies upgraded Whole Foods (NASDAQ: WFMI) to Hold from Underperform on valuation as they believe the capital infusion from Leonard Green limits downside risk. The company's target was raised to $11 from $9.50.
  • Banc of America upgraded Max Capital (NASDAQ: MXGL) to Buy from Neutral on valuation, the company's strategic changes to lower earnings volatility and their belief it is well positioned to benefit from an improved P&C marketplace.
  • Qimonda (NYSE: QI) was upgraded to Neutral from Underperform at Cowen.
  • Health Net (NYSE: HNT) was raised to Neutral from Sell at Goldman.
  • Parkway Properties (NYSE: PKY) was lifted to Market Perform from Underperform at Wachovia.
Analyst downgrades:

Continue reading Analyst calls: WFMI, SOV, STD, QI, NWS, ENS, GILD, ADBE

Analyst calls: WFMI, SOV, STD, QI, NWS, ENS, GILD, ADBE originally appeared on BloggingStocks on Thu, 06 Nov 2008 11:31:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>adbecseensggpgildheeshntinthenewslbyiymbvtmxglnsnws.aoptrpkyqisovstdsvrwfmiThu, 06 Nov 2008 11:31:00 EST<![CDATA[Closing Bell: DOW, NASDAQ, S&P down, sellers rain on bailout parade ]]>http://www.bloggingstocks.com/2008/10/03/closing-bell-dow-nasdaq-sandp-down-sellers-rain-on-bailout-par/http://www.bloggingstocks.com/2008/10/03/closing-bell-dow-nasdaq-sandp-down-sellers-rain-on-bailout-par/http://www.bloggingstocks.com/2008/10/03/closing-bell-dow-nasdaq-sandp-down-sellers-rain-on-bailout-par/#commentsFiled under: , , ,

Today was a great day in anticipation of the bailout, up until the point that traders sold the news. There is still a fear of holding anything into the weekend where bad news comes in the form of takeunder mergers on Monday. Today's jobless rate was 6.1% and the non-farm payrolls posted 9 consecutive declines.

Here are today's unofficial closing bell levels:
DJIA 10,325.70 (-157.15; -1.50%)
NASDAQ 1,947.39 (-29.33; -1.48%)
S&P500 1,099.24 (-15.04; -1.35%)
10YR T-Note 3.644% (-0.002%)
52-Week Lows
Top Analyst Downgrades

The big news of the day was rather complicated. Wells Fargo (NYSE: WFC) has decided to step in and merge with Wachovia Corp. (NYSE: WB) in an all stock transaction for the entire company. Wachovia closed up nearly 60% at $6.21 on over 250 million shares.

Citigroup Inc. (NYSE: C) bit the dirt today. It is the potential loser in the Wells Fargo-Wachovia deal and it paid the big price today. Citigroup fell more than 18% to $18.35 on the news and it traded nearly 300 million shares.

Want to see what Warren Buffett said on bailout and bank mergers?

General Growth Properties Inc. (NYSE: GGP) got a a lift this morning on what many would otherwise consider bad news. The REIT has replaced its chief financial officer and suspended its dividend. Shares were up 27% at $9.70 right at the close today an more than 16 million shares.

Ford Motor Company (NYSE: F) fell almost 5% to $4.14 after it announced plans to sell up to $500 million worth of stock to buy back debt from its credit arm to help shore up its bottom line.

Closing Bell: DOW, NASDAQ, S&P down, sellers rain on bailout parade originally appeared on BloggingStocks on Fri, 03 Oct 2008 16:15:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>bailoutsbank mergersBankMergersGGPtake under mergersTakeUnderMergersFri, 03 Oct 2008 16:15:00 EST