Marsh & McLennan (MMC) moves higher despite a 62% profit drop

Eliza Popescu — Tue, 12 Feb 2008 10:23:00 EST

Filed under: Earnings Reports, Management, Consumer Experience, Competitive Strategy

Shares of insurance broker Marsh & McLennan Inc. (NYSE: MMC) are trading slightly higher this morning, despite missing earnings estimates and posting a 62% decline in its fourth-quarter profit.

The company said its profit dropped to $85 million, or 16 cents per share during the fourth quarter, hurt by weak earnings results from its risk and insurance services business. These numbers are down from $226 million, or 40 cents per share, in the same period a year ago.

Included in the company's earnings numbers were discontinued operations and one-time costs. Excluding that, Marsh & McLennan posted earnings of 26 cents a share. Analysts, on average, expected the company to show earnings of 31 cents per share, according to Thomson Financial.

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Marsh & McLennan (MMC) moves higher despite a 62% profit drop originally appeared on BloggingStocks on Tue, 12 Feb 2008 10:23:00 EST. Please see our terms for use of feeds.

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This week's rumor round-up: CV Therapeutics for sale?

Eric Buscemi — Fri, 22 Jun 2007 15:45:00 EST

Filed under: Rumors, Amazon.com (AMZN), Netflix, Inc. (NFLX), Krispy Kreme Doughnuts (KKD), Blockbuster Inc 'A' (BBI), Wendy's Intl (WEN), Tyson Foods'A' (TSN), Harley-Davidson (HOG)

CV THERAPEUTICS INC (NASDAQ: CVTX)

For sale? Seems so. The bio-pharmaceutical company hired investment bankers to check it out and just like that, the stock jumped 6%. But sell to who? Some say a bigger competitor. At what price? $18 a share is about right. One report says that the CEO would absolutely jump at $20 a share. Added pressure to make a move has come from Third Point, who made their point to do something as they acquired a 10% stake in May.

MARSH & MCLENNAN COMPANIES INC (NYSE: MMC)

Since January there has been interest in buying this worldwide professional services company. Management is taking the tact of listening to some of the interested LBO parties, but has not said it wants to sell, nor has it hired a team of advisers to help think it through. Bids could be made in the mid-$30s, but management might be expecting something the $40 range. Which means there is interest to sell, but at a higher price, equal to a premium over their $18B market cap. Blackstone and KKR are said to be among the interested. A sale of some assets may first be necessary to make it all happen.

WENDY'S INTERNATIONAL (NYSE: WEN)

The company chairman, James V. Pickett, speaks: "While a sale remains only one of the alternatives under consideration, we believe it merits more thorough examination." And, I'll have a square hamburger on a round bun, please.

STILL FLYING AROUND

KRISPY KREME DOUGHNUTS INC (NYSE: KKD)

But will they trade oil for donut batter? Mohamed Abdulmohsin Al Kharafi & Sons of Kuwait are buying up the stock like crazy. The shares are rising fast, and a purchase could finally happen. Or, could there be big expansion outside the U.S. of A.?

NETFLIX INC (NASDAQ: NFLX), AMAZON.COM INC (NASDAQ: AMZN)

It's not getting any easier for Netflix. Blockbuster Inc (NYSE: BBI) is making life miserable by price undercutting. Now Netflix will have to top that. Will Amazon now make it's move?

BUZZ

Tyson Foods Inc (NYSE: TSN): The shares are up on heavy trading, but many balk at talk of a sale or buyout... Harley-Davidson Inc (NYSE: HOG): Stock price moving on up may be due to takeover talk.

This week's rumor round-up: CV Therapeutics for sale? originally appeared on BloggingStocks on Fri, 22 Jun 2007 15:45:00 EST. Please see our terms for use of feeds.

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