InsideWallStreet posts
FeedPosted Nov 2nd 2007 9:15AM by Eric Buscemi (RSS feed)
Filed under: Newspapers, Magazines, Ford Motor (F), AT and T (T), Trump Entertainment Resorts (TRMP)
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MAJOR PAPERS:
- Following Chrysler's lead to cut costs in relation to slowing sales, Ford Motor Company (NYSE: F) may cut its 2008 spending by 15%, according to the Wall Street Journal (subscription required).
- The Writers Guild of America, battling with Hollywood film and TV producers, is expected to call for a strike, reported the Wall Street Journal.
- Siemens AG (NYSE: SI) CEO Peter Loscher is getting ready to implement aggressive earnings targets for the company's senior managers, as well as thousands of job cuts, reported the Financial Times (subscription required).
OTHER PAPERS:
- According to two people familiar with the talks, the latest round of negotiations to buy Trump Entertainment Resorts (NASDAQ: TRMP) have fallen apart, reported the New Jersey Star-Ledger.
- From BusinessWeek's "Inside Wall Street" column:
- Investors may now be looking at AT&T (NYSE: T) as a "high-quality stock for the long haul," says Justin Hellman of Value Line.
- While many investors may be looking at Clinical Data's (NASDAQ: CLDA) possible blockbuster antidepressant drug and genetic test, they are banking on the company's Chairman Randal Kirk, who controls 40% of the stock.
- MoneyGram International (NYSE: MGI) may be looking for buyers, and John Bendall, CEO of Hermitage Capital, thinks it is worth $30 a share.
Posted Oct 5th 2007 9:05AM by Eric Buscemi (RSS feed)
Filed under: Newspapers, Magazines, Sprint Nextel Corp (S), Sotheby's (BID),
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MAJOR PAPERS:
- Troubled Sprint Nextel Corporation (NYSE: S) is searching for a replacement for CEO Gary Forsee, and expects to have a new person in place by December, reported the Wall Street Journal.
- Two Bear Stearns Companies (NYSE: BSC) collapsed mortgage related hedge funds, that lost $1.6B, have drawn an investigation from the U.S. attorney in Brooklyn, NY, reported the Wall Street Journal.
- The Financial Times reported that the U.K. economy will be affected by the global credit crisis, according to Chancellor of the exchequer Alistair Darling, who said that while the U.K. economy is in a strong position to ride out the impact, growth projections will be lowered from the current 2.5%-3%.
OTHER PAPERS:
- From BusinessWeek's "Inside Wall Street" section:
- Sotheby's (NYSE: BID) has benefited from Wall Street's equity market gains, with high-end investors piling money into art, and Rommel Dionisio of Wedbush Morgan Securities sees the stock going to $60 in a year.
- Amid concern that it might miss the Street's Q3 forecast, is Polycom (NYSE: PLCM) oversold at $26? Yes, says Greg MacArthur, president of investment outfit Viewpoint2000.
- Stereotaxis (NASDAQ: STXS) makes a computerized magnetically controlled navigation system that guides devices used in minimally invasive cardiac arrhythmia surgery, and Standard & Poor's rates the stock a Buy, in part because of its order backlog of $55 million.
Posted Sep 28th 2007 9:20AM by Eric Buscemi (RSS feed)
Filed under: Newspapers, Magazines, Yahoo! (YHOO), Cisco Systems (CSCO), Ford Motor (F)
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MAJOR PAPERS:
- It was revealed yesterday that Terra Firma is among the potential bidders for Ford Motor Company's (NYSE: F) Jaguar and Land Rover brands, reported the Financial Times.
- There is a 40% to 45% risk that a recession will be triggered by the housing market downturn in the U.S., the CEO of Freddie Mac (NYSE: FRE) warned, the Financial Times reported.
OTHER PAPERS:
- From BusinessWeek's "Inside Wall Street" column:
- Investors looking for fast growth in the $110 billion business-enterprise telecom market are betting on Time Warner Telecom (NASDAQ: TWTC), which offers broadband connections for data, high-speed Web access, local voice, and long-distance service.
- Plum Creek Timber (NYSE: PCL) is flying high despite the housing slump and market decline driven by the subprime mortgage crisis.
- Universal Electronics Inc (NASDAQ: UEIC), which makes the remote controls for TVs and other appliances, has caught the Street's eye.
WEBSITES:
- Unstrung.com reported that Cisco Systems Inc (NASDAQ: CSCO) is close to buying a WiMax base station company, according to sources, and one possible target is Alvarion (NASDAQ: ALVR).
- Yahoo! (NASDAQ: YHOO) is reportedly going to reduce the amount of money and effort it spends on premium services related to music, games, TV, and movies, reported TechCrunch.com.
Posted Sep 21st 2007 9:15AM by Eric Buscemi (RSS feed)
Filed under: Newspapers, Magazines, Google (GOOG), Apple Inc (AAPL), Goldman Sachs Group (GS)
MAJOR PAPERS:
OTHER PAPERS:
- The Guardian reported that Google Inc (NASDAQ: GOOG) is considering a move into the U.K. wireless market after regulator Ofcom proposed taking back over a third of the mobile phone spectrum that Vodafone Group (NYSE: VOD) and O2 have been using for 22 years to auction it for new entrants.
- From BusinessWeek's "Inside Wall Street" column:
- How much higher can Apple Inc (NADSAQ: AAPL) go? Of the 27 analysts who track Apple, 23 still recommend buying it, 4 rate it a hold, while none advise selling it.
- A week after Boone Pickens disclosed a 9.9% stake in InterOil Corporation (NYSE: IOC), the stock gushed from $28 on Aug. 8 to $40.75 on Aug. 13, the day the oil-and-gas explorer disclosed it found evidence of oil in its Elk-2 well in Papua New Guinea.
- Bioenvision Inc (NASDAQ: BIVN), the small biotech that Genzyme Corporation (NASDAQ: GENZ) agreed to acquire in May at $5.60 a share, may not close on the deal unless Genzyme raises its offer.
Posted Sep 7th 2007 9:00AM by Eric Buscemi (RSS feed)
Filed under: Newspapers, Magazines, PepsiCo (PEP), NYSE Euronext (NYX)
MAJOR PAPERS:
- "The behavior in what we are observing in the last seven weeks is identical in many respects to what we saw in 1998, what we saw in the stock market crash of 1987, I suspect what we saw in the land boom collapse of 1837 and certainly [the bank panic] 1907," said Alan Greenspan, the former Federal Reserve chairman, reported the Wall Street Journal.
- In an attempt to reverse slow North American sales of Gatorade, PepsiCo Inc (NYSE: PEP) is launching a low calorie version, reported the Wall Street Journal.
OTHER PAPERS:
- British arms manufacturer BAE Systems (OTC: BAESY) will reportedly receive a GBP20B deal next week to supply 72 Eurofighter Typhoon jets to Saudi Arabia, reported the U.K. Times.
- British telecom company Vodafone Group (NYSE: VOD) is considering buying the Italian and Spanish operations of Swedish telecom company Tele2, reported the Guardian.
- From BusinessWeek's "Inside Wall Street" column:
- NYSE Euronext Inc (NYSE: NYX) runs cash equity exchanges in five countries and six derivative markets worldwide, and Birkelbach Investment Securities feels the stock is "very undervalued."
- The outlook for Access Pharmaceuticals Inc (NASDAQ: ACCP) and ProLindac has vastly improved, said Steven Rouhandeh, CEO of SCO Financial Group, which owns a 30% stake in the company.
- NeoStem Inc (NYSE: NBS) is a tiny company that specializes in collecting, processing, and storing stem cells from healthy adults for their personal medical use, and Equity Dynamics is positive on the company's technology.
Posted Aug 24th 2007 9:10AM by Eric Buscemi (RSS feed)
Filed under: Newspapers, Magazines, Ford Motor (F), Home Depot (HD), Diageo plc (DEO), BP p.l.c. ADS (BP)
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MAJOR PAPERS:
- According to people familiar with the matter, Home Depot Inc (NYSE: HD) was close to accepting about $1.2B less for the sale of its wholesale distribution business to three private-equity firms, but there was uncertainty about whether the deal would close by last night's deadline, reported the Wall Street Journal (subscription required).
- Ford Motor Company (NYSE: F) CEO Alan Mulally urged the Federal Reserve to stimulate the economy and focus on economic growth, reported the Financial Times (subscription required).
OTHER PAPERS:
- British energy company BP plc (NYSE: BP) is warning that a fierce environmental campaign may force it to scrap a $3.8B expansion at one of America's biggest oil refineries, reported the U.K. Times.
- From BusinessWeek's "Inside Wall Street" column:
- Spirits company Diageo plc (NYSE: DEO) may be the perfect tonic for jittery markets, and could appreciate 20% to 25% annually for several years, said Randy Haase of Baron Fifth Avenue Growth Fund.
- As household budgets get squeezed, consumers are likely to spend more at discount retailers - and TJX Companies Inc (NYSE: TJX), owner of T.J . Maxx, is one of the best bets.
- In September, Arena Pharmaceuticals Inc (NASDAQ: ARNA) will announce 6-month safety review for its lead drug, lorcaserin, an obesity drug, which is in a large phase III test.
Posted Jul 20th 2007 9:15AM by Eric Buscemi (RSS feed)
Filed under: Newspapers, Magazines, Alcoa Inc (AA), Monster Worldwide (MNST)
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MAJOR PAPERS:
- Barron's Online's (subscription required) "Inside Scoop" reported that a batch of sales at Alcoa Inc (NYSE: AA) has followed Alcoa's withdrawal of its offer to purchase Alcan Inc (NYSE: AL): from July 13-17, four senior executives grossed $41.3M by selling 877,600 shares on the open market at per-share prices ranging from $46.67 to $47.47, according to SEC data.
- Andrew McKelveey, the founder and former CEO of Monster Worldwide Inc (NASDAQ: MNST) was allegedly involved in the backdating of stock option grants for employees, reported the Wall Street Journal (subscription required).
OTHER PAPERS:
- Vodafone Group plc (NYSE: VOD) CEO Arun Sarin made a concession to rebel shareholders yesterday by promising to release value from Verizon Wireless, a joint venture in which Vodafone has a 45% stake, reported the U.K. Times.
- From BusinessWeek's "Inside Wall Street" column:
Posted Jul 13th 2007 9:10AM by Eric Buscemi (RSS feed)
Filed under: Newspapers, Magazines, General Electric (GE), Morgan Stanley (MS), Zoltek Co (ZOLT)
MAJOR PAPERS:
- General Electric Company (NYSE: GE) has hired Morgan Stanley (NYSE: MS) to find a buyer for its WMC Mortgage subprime mortgage unit, signaling its exit from the mortgage business, reported the Wall Street Journal (subscription required).
- GE's CNBC cable business news channel and the Financial Times Group are in discussions to share resources and shore up their Web business, reported the Wall Street Journal.
- VeriSign Inc (NASDAQ: VRSN), which oversees dot-com and dot-net domain names registry, has recorded an additional $160M in compensation expenses related to stock option grants made between 1998 and 2006, causing the CFO to resign, reported the Wall Street Journal.
- The Financial Times (subscription required) reported that Virgin Media Inc (NASDAQ: VMED) has hired financial services company UBS AG (NYSE: UBS) yesterday to pursue strategic buyers.
OTHER PAPERS:
- From BusinessWeek's "Inside Wall Street" column:
Posted Jun 15th 2007 9:15AM by Eric Buscemi (RSS feed)
Filed under: Newspapers, Magazines, Eastman Kodak (EK), Dow Chemical (DOW)
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MAJOR PAPERS:
- Higher interest rate are making commercial real estate deal makers think twice about deals, according to the Wall Street Journal's "Heard on the Street," sending shares of companies like Archstone-Smith Trust (NYSE: ASN) down from $64 to $60.75 a share.
- The Financial Times reported that U.S. senators have proposed new laws that would impose higher taxes on private equity firms that list their shares on stock exchanges, a move that could be a blow to private-equity firm Blackstone Group, which is seeking to list its shares.
- The U.S. and U.K. are working on a treaty that would allow Britain to buy American weapons without obtaining export licenses, the Financial Times reported; any deal on the issue could face opposition in the U.S. Congress, although the British believe eliminating the need for the licenses would expedite the arms purchasing process.
OTHER PAPERS:
- Turnaround candidate Eastman Kodak Company (NYSE: EK) may be ready to shine, BusinessWeek's "Inside Wall Street" column reported, and now may be a good time to evaluate a potential EK play, according to investment advisor Gregory MacArthur.
- Gateway Inc (NYSE: GTW) is selling products in China for the first time in a pilot program with Digital China Holdings Ltd, the LA Times reported.
- According to The Nation, The Dow Chemical Company (NYSE: DOW) is planning to ask its board of directors later this year for approval to invest in five petrochemical projects in Thailand.
- Cementos Portland Valderribas, a unit of Fomento de Construcciones y Contractas is planning a bid for Texas Industries Inc (NYSE: TXI), the Expansion reports, citing people close to the situation.
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