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business week posts

Newspaper wrap-up 6-29-07: The Journal highlights struggling Applebee's

Posted Jun 29th 2007 9:15AM by Eric Buscemi (RSS feed)
Filed under: Newspapers, Magazines, Apple Inc (AAPL), iPhone, USG Corp (USG)

MAJOR PAPERS:

The Wall Street Journal (subscription required) highlighted the struggles of casual dining chain Applebee's International (NADSAQ: APPB), where even the company's founder said "[Applebee's] doesn't have anything that would make me want to come back".

OTHER PAPERS:

According to the U.K. Times, Vodafone Group (NYSE: VOD) is the favorite to win the European rights for Apple Inc's (NASDAQ: AAPL) iPhone, despite stiff competition from rivals Orange and T-Mobile.
From BusinessWeek's "Inside Wall Street" column:

There's talk that Warren Buffett may increase his 17% stake in USG Corporation (NYSE: USG) before the housing cycle turns.
Demand is surging for Kaydon Corporation's (NYSE: KDN) anti-friction bearings, which are used in robotics, aerospace, and other industries, including wind power equipment.
Analysts say United Retail Group Inc (NADSAQ: URGI) has perfected fashion for the large womens' market, size 14 and over.

Newspaper wrap-up 6-22-07: KKR to follow Blackstone public

Posted Jun 22nd 2007 9:15AM by Eric Buscemi (RSS feed)
Filed under: Newspapers, Magazines, Internet, Archer-Daniels-Midland (ADM), BP p.l.c. ADS (BP), Deere and Co (DE), Blackstone Group L.P (BX)

MAJOR PAPERS:

Kohlberg Kravis Roberts & Co. is planning an initial public offering, following in the footsteps of arch rival Blackstone Group (NYSE: BX), reported the Wall Street Journal (subscription required).
Archer-Daniel-Midland Company (NYSE: ADM) is expected to enter the sugar cane ethanol business in Brazil, including the possible purchase of Cosan, Brazil's largest ethanol producer, reported the Wall Street Journal.

OTHER PAPERS:

British energy company BP plc (NYSE: BP) will agree to the demands of the Russian government to give up its stake in the $20B Kovykta gas project, reported the U.K. Times.
From BusinessWeek's "Inside Wall Street" column:

Bulls and bears argue over where it is time to own Deere and Company (NYSE: DE) stock, some see the stock hitting $150, some believe the party is over.
Document Security Systems Inc (NYSE: DMC) has nine patented technologies to help protect documents and printed products from brand and security fakers, leading Brookhaven Capital Management to believe it will reach $50-a-share over the next two years.
WBB Securities believes Cleveland BioLabs Inc (NASDAQ: CBLI) is likely by summer's end to get a U.S. Department of Defense contract for its radiation protection compound called Protectan or CBLB502.

WEBSITES:

CNN.com reported that a 16-year-old girl had both of her feet severed in an accident on the free-fall ride "Superman Tower of Power" at Six Flags Inc's (NYSE: SIX) Kentucky Kingdom amusement park yesterday.

Newspaper wrap-up 6-08-07: NBC to play live ads

Posted Jun 8th 2007 9:30AM by Eric Buscemi (RSS feed)
Filed under: Newspapers, Magazines, Internet, General Electric (GE)

MAJOR PAPERS:

Barron's Online's (subscription required) "Weekday Trader" wrote that NYC tax medallion financier and owner Medallion Financial Corp (NASDAQ: TAXI) is a play on the rising value of the New York City's taxi medallions, currently worth $600K each.
The Wall Street Journal (subscription required) reported that General Electric Company's (NYSE: GE) NBC next week will use a 1950s standard, live advertisements, to keep viewers watching commercials in the age of digital video recorders.

OTHER PAPERS:

Whirlpool Corporation (NYSE: WHR) will cut over 700 jobs at two Tennessee plants, reported the Associated Press.
The U.K. Times has learned that food service company Sysco Corporation (NYSE: SYY) will bid for British food company Brake Bros, which has also drawn interest from Archie Norman and Blackstone.
From BusinessWeek's "Inside Wall Street" section:

Without belittling the challenge Siemens AG (NYSE: SI) faces from its bribery scandal, investors will now start paying attention to the company's earnings, according to Michael Hagmann of UBS.
MCF Corporation (NYSE: MEM) is a small financial services operation with a cheap price, given its 50% annual growth rate, said Scott Potter of San Francisco Equity Partners.
John Maloney, president of M&R Capital Management, sees National Bank of Greece (NYSE: NBG) benefiting from the booming economies of Southeastern Europe.

Newspaper wrap-up 5-25-07: Google being looked at by EU

Posted May 25th 2007 9:15AM by Eric Buscemi (RSS feed)
Filed under: Newspapers, Magazines, Google (GOOG), Amgen Inc (AMGN), Dow Chemical (DOW), YRC Worldwide (YRCW)

MAJOR PAPERS:

Barron's Online's "Inside Scoop" column reported that Hess Corporation (NYSE: HES) CEO John Hess recently bought more $1M worth of Dow Chemical Company (NYSE: DOW), and now directly owns 23,350 DOW shares.
The Financial Times reported that the European Union is concerned that Google Inc (NASDAQ: GOOG) may be skirting European privacy laws by keeping data on Internet searches for too long.

OTHER PAPERS:

The U.S. Navy awarded an $11.9M contract to Force Protection Inc (NASDAQ: FRPT) to build and deliver 14 next-generation armored vehicles, according to the Associated Press.
From BusinessWeek's "Inside Wall Street" section:

In spite of its problems, Amgen Inc (NASDAQ: AMGN) is a long-term value play, according to Joseph Battipaglia, chief investment officer at Ryan Beck's Washington Crossing Advisors unit.
Bioenvision Inc (NASDAQ: BIVN) is attracting big investors because the company has teamed up with biotech biggie Genzyme Corporation (NASDAQ: GENZ) to develop clofarabine, a treatment for leukemia in children.
Big truckers see YRC Worldwide Inc (NASDAQ: YRCW) as a tempting asset play with "compelling earnings power and potential value," according to Justin Yagerman of Wachovia Securities.

Newspaper wrap-up 5-18-07: GE nears deal to sell division

Posted May 18th 2007 9:20AM by Eric Buscemi (RSS feed)
Filed under: Newspapers, Magazines, General Electric (GE), Citigroup Inc. (C), Anheuser-Busch InBev (BUD), Office Depot (ODP), OfficeMax Inc (OMX), Staples Inc (SPLS)

MAJOR PAPERS:

General Electric Company (NYSE: GE) is near a deal to sell its plastics division to Saudi Basic Industries for $11B, reported the Wall Street Journal (subscription required).
Anheuser-Busch Companies Inc (NYSE: BUD) has stopped making its Spykes malt beverage amid poor sales and criticism that it was marketing to underage drinkers, reported the Wall Street Journal.

OTHER PAPERS:

According to the Telegraph, citing Cadbury-Schweppes ADS (NYSE: CSG), two rival private-equity groups are preparing to bid for the U.S. beverages arm of the company, with bids in the GBP8B range.
The Times of India reported that Citigroup Inc (NYSE: C) is putting its captive business process outsourcing arm, which could be worth between $1B-$1.5B, on the block.
BusinessWeek's "Inside Wall Street" column focused on OfficeMax Incorporated (NYSE: OMX), Verichip Corporation (NASDAQ: CHIP) and Morton's Restaurant Group (NYSE: MRT):

Office Max may be a target for Staples Inc (NASDAQ: SPLS) or Office Depot Inc (NYSE: ODP).
Verichip, a maker of RFID chips, is starting to get attention on Wall Street.
Morton's is being helped by boardroom business being conducted at the upscale steakhouse.

Newspaper wrap-up 4-20-07: Starbucks trying to move into India

Posted Apr 20th 2007 9:20AM by Eric Buscemi (RSS feed)
Filed under: Newspapers, Magazines, Internet, Google (GOOG), Starbucks (SBUX)

MAJOR PAPERS:

Heinrich von Pierer resigned as chairman of Siemens AG ADR's (NYSE: SI) supervisory board amid criminal bribery probes, reported the Wall Street Journal (subscription required).

OTHER PAPERS:

The Business Standard reported that Starbucks Corporation (NASDAQ: SBUX) has sent a revised application to operate single-brand retail stores in India.
From BusinessWeek's "Inside Wall Street" column:

Credit Suisse Group ADS (NYSE: CS) is an undervalued wealth-management stock.
Cardiac Science Corporation (NASDAQ: CSCX) is a solid, long term story, according to SunTrust's Jonathan Block.
Home Solutions of America Inc (NASDAQ: HSOA) will do well, with extensive work to do in New Orleans and a large backorder.

WEBSITES:

According to Google's official blog page, Google Inc (NASDAQ: GOOG) has acquired Marratech's video conferencing software.

Newspaper wrap-up 4-9-07: Kroger in play?

Posted Apr 9th 2007 9:20AM by Eric Buscemi (RSS feed)
Filed under: Newspapers, Magazines, Kroger Co (KR), Goldman Sachs Group (GS), Dow Chemical (DOW), Barclays plc ADS (BCS)

MAJOR PAPERS:

On Friday, the Wall Street Journal reported that a number of firms have been eyeing Kroger Co (NYSE: KR) on the expectation that the company will soon begin exploring a leveraged buyout with the help of investment bank Goldman Sachs Group Inc (NYSE: GS).

OTHER PAPERS:

The New York Post reported that Warner Music Group Corp (NYSE: WMG) may look to merge with EMI Group plc ADR (OTC: EMIPY) by appealing directly to the music labels shareholders.
According to the Sunday Express, Dow Chemical Company (NYSE: DOW) is set to receive a bid of $52-$58 per share, valuing the company at $50B, from a consortium of Middle Eastern investors and American buyout firms.
The U.K. Telegraph reported that the Royal Bank of Scotland is preparing to delay any rival offer for ABN Amro Holdings (NYSE: ABN) until after Barclays plc ADS (NYSE: BCS) reveals its bid for the company.
From BusinessWeek's "Inside Wall Street" section:

Oppenheimer oil guru Fadel Gheit says rumors have resurfaced that Exxon Mobil Corporation (NYSE: XOM) may go after oil and gas company Devon Energy Corporation (NYSE: DVN).
Napco Security Systems Inc (NASDAQ: NSSC) is hoping GatewayX, a new product introduced in January, will spark a rebound.
Seed and crop-protection company Syngenta AG ADS (NYSE: SYT) looks to have upside ahead, due to brisk demand for corn to make ethanol is boosting farmers' need for Syngenta's products to fight field pests.

Newspaper wrap-up 3-30-07: Apple iPhone to be released June 11

Posted Mar 30th 2007 9:43AM by Eric Buscemi (RSS feed)
Filed under: Newspapers, Magazines, Internet, Blogs, Apple Inc (AAPL), Daimler (DAI), AT and T (T), , United Technologies (UTX)

MAJOR PAPERS:

According to the Wall Street Journal's (subscription required) "Heard on the Street," Navigant Consulting Inc (NYSE: NCI), which looks for improper stock-options backdating for other companies, may want to inspect its own records.
The Wall Street Journal also reported that United Technologies Corporation (NYSE: UTX) will acquire Initial Electronic Security Group, a unit of Rentokil Initial plc (OTC: RTOKY) for $1.17B in cash.
The Financial Times (subscription required) reported that billionaires Ron Burkle and Eli Broad submitted a last-minute offer for Tribune Company (NYSE: TRB) last night, offering $34 a share, according to sources.

OTHER PAPERS:

BusinessWeek reported, citing sources close to the companies, that DaimlerChrysler AG's (NYSE: DCX) Chrysler Group unit is getting a bids from Magna International Inc (NYSE: MGA) and Cerberus Capital Management. Cerberus has decided to pursue Chrysler alone, while Magna will partner with a different private equity group to make its bid.
The Globe and Mail reported that BCE Inc (NYSE: BCE) is reportedly considering radical changes that could include a merger with Telus Corporation (NYSE: TU), after rejecting advances by private equity firm Kohlberg Kravis Roberts.

WEBSITES:

CNet.com's Gadgets blog reported that AT&T Inc's (NYSE: T) Cingular has confirmed that the release date of Apple Inc's (NASDAQ: AAPL) upcoming iPhone will be June 11, the first day of Apple's Worldwide Developers Conference.

Newspaper wrap-up 3-28-07: Microsoft to buy DoubleClick?

Posted Mar 28th 2007 9:19AM by Eric Buscemi (RSS feed)
Filed under: Newspapers, Magazines, Internet, Microsoft (MSFT), Yahoo! (YHOO), Hershey Co (HSY), BP p.l.c. ADS (BP)

MAJOR PAPERS:

Online ad firm DoubleClick is exploring a sale, and is in talks with Microsoft Corporation (NASDAQ: MSFT), among others, reported the Wall Street Journal (subscription required).
The Financial Times (subscription required) reported that BP plc ADS's (NYSE: BP) Russia venture, TNK-BP, abandoned its bid for a stake in Rosneft less than ten minutes into bidding, leaving Rosneft able to buy its own shares back at a 10% discount.
According to the Financial Times, Tyco International Ltd (NYSE: TYC) bondholders are worried the company may try to avoid paying them in full when the company completes its break-up later in the year.
The Financial Times reported that Cadbury Schweppes ADS (NYSE: CSG) CEO Todd Stitzer said a merger with Hershey (HSY) would make "commercial, strategic and financial sense" for Cadbury, which is preparing to split into two divisions.

OTHER PAPERS:

The U.K. Times reported that British Airways ADS (NYSE: BAB) is considering making a GBP1B bid for bmi, a competing British airline.

WEBSITES:

BusinessWeek Online reported that Beazer Homes USA Inc (NYSE: BZH) is being investigated for potential mortgage fraud by the FBI.
CNet.com reported that Yahoo! Inc (NASDAQ: YHOO) will offer unlimited email storage beginning in May, according to an announcement by the company.

Newspaper wrap-up 2-23-07: Apple at CeBIT?

Posted Feb 23rd 2007 9:45AM by Eric Buscemi (RSS feed)
Filed under: Newspapers, Magazines, Internet, Microsoft (MSFT), Apple Inc (AAPL), India, McDonald's (MCD), Alcatel-LucentADS (ALU)

MAJOR PAPERS:

The Wall Street Journal (subscription required) reported that Microsoft Corp (NASDAQ: MSFT) has been ordered to pay $1.52B to Alcatel-Lucent (NYSE: ALU) for infringing patents on a fundamental technology for digital music.
According to the Wall Street Journal's "Heard on the Street" column, shares of India's two largest private sector banking companies, Icici Bank Ltd. (NYSE: IBN) and HDFC Bank (NYSE: HDB), have tripled over the past three years. However, some investors are getting cautious on the stocks as India's central bank has taken tougher steps to rein in lending growth and stanch inflation.
Barron's Online's (subscription required) "Weekday Trader" suggested investing in companies with modest dividend yields, but a strong cash position and business model, such as outsourcing player Paychex, Inc. (NASDAQ: PAYX), fast-food giant McDonald's Corp. (NYSE: MCD) and insurer Prudential Financial, Inc. (NYSE: PRU).

OTHER PAPERS:

According to German website Heise Online, Apple Inc (NASDAQ: AAPL) will exhibit at CeBIT, the European version of the CES expo, from March 15 through the 21. Apple will be exhibiting the iPhone, said the site. However, according to German website Computerwoche, Apple has denied that it is participating in CeBIT. (Both links in German)
Business Week's "Inside Wall Street" column mentioned UnitedHealth (NYSE: UNH), Epix (NASDAQ: EPIX) and LJ International (NASDAQ: JADE) positively.

Warren Buffet has stirred up interest in UnitedHealth by reportedly buying one million shares in the company.
Small biotech Epix, which recently signed a deal with GlaxoSmithKline (NYSE: GSK), could double within a year, believe some experts.
LJ International, which has already risen from slightly over $4 to over $11 since December, may still have room to rise, according to Albert Lee of Maxim Group, who has a $12 price target on the stock.

Investor's Business Daily's "New America" column highlighted Spartan Stores (NASDAQ: SPTN), the 10th largest grocery distributor in the U.S., which has seen earnings growth in double and triple digits for nine of the past ten quarters.

Newspaper wrap-up 2-16-07: Google buys Adscape

Posted Feb 16th 2007 9:00AM by Eric Buscemi (RSS feed)
Filed under: Newspapers, Magazines, Internet, Google (GOOG), Microsoft (MSFT), Goldman Sachs Group (GS), AMR Corp (AMR)

MAJOR PAPERS:

The Wall Street Journal's (subscription required) "Heard on the Street" column focused on Credit Suisse Group's (NYSE: CS) new CEO, Brady Dougan, saying the company chose him to hold a steady course, avoiding periods of high revenues followed by crashes.
Barron's Online's (subscription required) "Weekday Trader" column wrote that Elizabeth Arden Inc (NASDAQ: RDEN) trades at a discount to its industry and the broader market, and looks enticing at current levels.

OTHER PAPERS:

BusinessWeek's "Inside Wall Street" column reported that AMR Corporation (NYSE: AMR), the parent of American Airlines, is a buyout target of a group that includes the Goldman Sachs Group Inc (NYSE: GS).
The New York Times reported that Congress has reintroduced legislation to allow the federal government to further regulate the tobacco industry by cracking down on marketing aimed at young people.
The New York Times also reported that Microsoft Corporation's (NASDAQ: MSFT) CEO Steve Ballmer said Wall Street analysts are being too optimistic about sales of Windows Vista.
According to the Red Herring, Google Inc (NASDAQ: GOOG) has acquired Adscape for $23 million.

Newspaper wrap-up 2-2-07: MySpace looking for partners in China

Posted Feb 2nd 2007 9:15AM by Eric Buscemi (RSS feed)
Filed under: Newspapers, Magazines, Dell (DELL), Intel (INTC), News Corp'B' (NWS), Rio Tinto plc ADS (RIO)

MAJOR PAPERS:

Highlights from today's Wall Street Journal (subscription required):

Dell Inc (NASDAQ: DELL) has been accused in an investor lawsuit of improper accounting in its partnership with Intel Corporation (NASDAQ: INTC).
News Corporation's (NYSE: NWS) MySpace is looking to forge partnerships to enter the Chinese market.

OTHER PAPERS:

The U.K. Times reported that Rio Tinto plc (NYSE: RTP) has warned that the future of its only operation in the U.K. is bleak, with negotiations on its future having failed to deliver a solution.
The Washington Post said, according to a National Intelligence report, that the situation in Iraq will get worse and the United States has little control over it.
Investor's Business Daily's "New America" column mentioned Heelys (NASDAQ: HLYS) positively, saying there is plenty of room for growth in the wheeled sneaker market, although cautioning it could be a fad like rollerblades or the Razr scooter before it.
From BusinessWeek's "Inside Wall Street" column:

Weyerhaeuser Company (NYSE: WY) named Debra Cafaro, a well-regarded REIT executive, to its board, sending a "clear signal that Weyerhaeuser will be looking at moving its huge timberlands into a REIT," says Mark Wilde of Deutsche Bank.
Archer Daniels Midland Company (NYSE: ADM) should rise to $6 a share this year, says Carl Birkelbach, president of Birkelbach Investment Securities
Access Pharmaceuticals' (NASDAQ: ACCP) two cancer drugs -- one of which, MuGard, has already been O.K.'d by the Food & Drug Administration -- are catching the eye of investors.

Is tech hand-wringing creating opportunities for savvy investors?

Posted Jan 26th 2007 2:55PM by Nick Perry (RSS feed)
Filed under: Earnings Reports, Bad News, Magazines, Apple Inc (AAPL), Intel (INTC), Indices, International Business Machines (IBM), Advanced Micro Dev (AMD), Symantec Corp (SYMC)

Over the past few weeks I have seen a bit of skepticism showered on the technology sector. As was noted in a Bloggingstocks post earlier this month, Jim Cramer offered some cautious comments on the group, saying that many stocks were "off limits". I then saw this BusinessWeek article that says Standard & Poor's is calling for a potential 7% to 10% correction in the Nasdaq Composite.

To be sure, this hasn't been a good couple of weeks for individual tech stocks. Companies such as Intel Corp. (NASDAQ:INTC), Apple Inc. (NASDAQ:AAPL), International Business Machines (NYSE:IBM), Advanced Micro Devices (NYSE:AMD), Lam Research (NASDAQ:LRCX), and Symantec (NASDAQ:SYMC) have all seen their stocks hit. Some posted lower-than-expected earnings, some warned, and some saw selling despite seemingly decent results. Each stock drop has helped to weigh on the collective psyche of investors. In other words, each individual sell off has fed into the skepticism expressed above.

Continue reading Is tech hand-wringing creating opportunities for savvy investors?

Newspaper wrap-up 1-26-07: Iran to attempt space launch

Posted Jan 26th 2007 9:26AM by Eric Buscemi (RSS feed)
Filed under: Rumors, Newspapers, Magazines, Gap Inc (GPS), Goldman Sachs Group (GS)

MAJOR PAPERS:

The Wall Street Journal's (subscription required) "Heard on the Street" column wrote that activist investor Carl Icahn has his eyes set on WCI Communities Inc. (NYSE:WCI).
The Financial Times (subscription required) reports that BAE Systems Plc. ADR (OTC:BAESY) faces a court challenge from anti-arms groups that want to know how private documents belonging to them ended up in the company's hands.

OTHER PAPERS:

Aviation Week reported that Iran said it is set to attempt a space launch. There is speculation it could be a cover for Iran testing longer-range missile strike technologies.
Investor's Business Daily's "New America" column focused on Home Inns & Hotels Management Inc. ADR (NASDAQ:HMIN), China's top budget hotel chain. The company went public in October and is in the midst of a building boom, leasing properties and adding franchises in fast growing cities across China.
BusinessWeek's "Inside Wall Street" column highlighted three companies:

The Gap Inc. (NYSE:GPS) recently hired Goldman Sachs Group Inc. (NYSE:GS) to explore strategic alternatives. With sales continuing to deteriorate this puts Goldman Sachs analyst Margaret Mager in an awkward position as she has a "Sell" recommendation on Gap.
Louisiana-Pacific Corp. (NYSE:LPX) is up from $18 in September to $23.33 now, buoyed by rumors that it's a buyout target and by "signs of a bottoming" in homebuilding.
Intelli-Check Inc.'s (AMEX:IDN) ID-Check technology has been ordered by the U.S. Defense Dept. and will be embedded in handheld computers used by the Pentagon Force Protection Agency.

Newspaper wrap-up 1-19-07: UPS may cancel Airbus order

Posted Jan 19th 2007 9:15AM by Eric Buscemi (RSS feed)
Filed under: Newspapers, Magazines, Boeing Co (BA), United Parcel'B' (UPS), US Airways Group (LCC)

MAJOR PAPERS:

The Wall Street Journal's (subscription required) "Heard on the Street" column focused on companies that would be hurt the most by the price of oil continuing to fall. The article mentioned Hess Corp (NYSE: HES) and Suncor Energy (NYSE: SU), along with alternative energy companies Aventine Renewable Energy Holdings (NYSE: AVR), Pacific Ethanol (NASDAQ: PEIX) and VeraSun Energy (NYSE: VSE).

OTHER PAPERS:

French newspaper Les Echoes reported that United Parcel Service (NYSE: UPS) may cancel its order for 10 Airbus A380s, which could create an opportunity for Boeing (NYSE: BA).
Light Reading reported that Tellab's (NASDAQ: TLAB) CTO Thomas Gruenwald will leave the company at the end of this week.
Investor's Business Daily's "New America" column mentioned BMC Software (NYSE: BMC) positively.
BusinessWeek's "Inside Wall Street" column mentioned Volcano (NASDAQ: VOLC), UCBH Holdings (NASDAQ: UCBH) and US Airways Group (NYSE: LCC) positively.