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Newspaper wrap-up 7-23-07: Google ready to spend on wireless licenses

Posted Jul 23rd 2007 9:15AM by Eric Buscemi (RSS feed)
Filed under: Newspapers, Magazines, Google (GOOG), Apple Inc (AAPL), Ford Motor (F), Toyota Motor Corp. (TM)

MAJOR PAPERS:

If the FCC adopts auction rules that allow open access for users and wireless resellers, Google Inc (NASDAQ: GOOG) is ready to spend a minimum of $4.6B for wireless licenses, reported the Wall Street Journal.
Delayed delivery of 55,000 vehicles at Toyota Motor Corporation (NYSE: TM), due to last weeks earthquake in Japan, wont result in changes of the car maker's production systems, reported the Wall Street Journal.
The Financial Times reported on Friday that Ford Motor Company (NYSE: F) will decide next week whether to proceed with selling Jaguar and Land Rover after receiving a surprise offer for the British luxury carmakers from TPG Capital, the private equity firm, along with several other approaches.

OTHER PAPERS:

The U.K. Times reported that Efficient Capital Structures, the group seeking to push through radical changes at Vodafone Group (NYSE: VOD), has won the backing of a string of leading fund managers, including Jupiter and Invesco Perpetual.
The New York Times reported that there is a flaw in the Apple Inc (NASDAQ: AAPL) iPhone that allows hackers to take over the phone.

Newspaper wrap-up 7-20-07: Monster founder involved in options backdating

Posted Jul 20th 2007 9:15AM by Eric Buscemi (RSS feed)
Filed under: Newspapers, Magazines, Alcoa Inc (AA), Monster Worldwide (MNST)

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:

Activist shareholders are putting pressure on Brink's Company (NYSE: BCO) to spin-off its home security unit, so that it can trade independently of the armored cars.
Pipex Pharmaceuticals Inc (AMEX: PP) has been off Wall Street's radar screen, but perhaps not for long. Pipex may have a stable of winners in the making, including an orphan drug designation.
The aircraft, auto, and architecture sectors are expected to be big users of Research Frontiers Inc's (NASDAQ: REFR) SmartGlass technology, which lets glass go from clear to opaque fast.

Newspaper wrap-up 7-18-07: Bear Stearns calls its two subprime hedge funds worthless

Posted Jul 18th 2007 9:15AM by Eric Buscemi (RSS feed)
Filed under: Newspapers, Magazines, Whole Foods Market (WFMI), Barclays plc ADS (BCS),

MAJOR PAPERS:

Bear Stearns Companies Inc (NYSE: BSC) says that its two hedge funds tied to subprime loans are basically worth nothing, reported the Wall Street Journal (subscription required).
An "error in judgment" is what Whole Foods Market Inc (NASDAQ: WFMI) chairman and CEO John Mackey called his anonymous blogging about his company and rival Wild Oats Markets Inc (NASDAQ: OATS) in an apology, reported the Wall Street Journal.
SEC chairman Christopher Cox wants Congress to tighten its oversight of the $2.4T municipal bond market, the result of increasing complexities in the bond market and lax leadership at a number of firms, reported the Wall Street Journal.

OTHER PAPERS:

Kohlberg Kravis Roberts is planning to offer $24M to acquire Macy's Inc (NYSE: M), according to Women's Wear Daily (subscription required).
The U.K. Times reported that Barclays plc (NYSE: BCS) has deided against raising its bid for ABN Amro Holdings (NYSE: ABN).
Honda Motor Co. (NYSE: HMC) is increasing its production capacity in North America and in other places, in order to meet growing demand for its fuel-efficient cars and to maintain momentum for global growth, reported the Associated Press.

Newspaper wrap-up 7-16-07: IHOP buying Applebee's

Posted Jul 16th 2007 9:30AM by Eric Buscemi (RSS feed)
Filed under: Newspapers, Magazines, Google (GOOG), Yahoo! (YHOO), Ford Motor (F), Alcoa Inc (AA), Verizon Communications (VZ), BHP Billiton Ltd ADR (BHP), Rio Tinto plc ADS (RIO)

MAJOR PAPERS:

IHOP (NYSE: IHP), of pancake house fame, is buying Applebee's International Inc (NASDAQ: APPB), the huge casual dining restaurant chain, for $2.2 billion in a deal concluded last night, reported the Wall Street Journal (subscription required).
Vodafone Group (NYSE: VOD) is looking at a possible $160 billion bid for Verizon Communications Inc (NYSE: VZ), reported the Financial Times (subscription required).

OTHER PAPERS:

The U.K. Times reported that Ford Motor Company (NYSE: F) is preparing to sell Volvo, the Swedish car group it bought eight years ago, in a move that could raise $8 billion.
The Observer reported that BHP Billiton (NYSE: BHP) is lining up a £20 billion bid for Alcoa Inc (NYSE: AA), after its bid for rival Alcan Inc (NYSE: AL) was trumped by Rio Tinto (NYSE: RTP).
Large American Internet companies, possibly including Google Inc (NASDAQ: GOOG) and Yahoo Inc (NASDAQ: YHOO), are considering snapping up Rediff.com India (NASDAQ: REDF), which runs one of India's most popular consumer Internet portals, reported the Hindustan Times.

Newspaper wrap-up 7-11-07: Dell to eliminate trialware in some new computers

Posted Jul 11th 2007 9:15AM by Eric Buscemi (RSS feed)
Filed under: Newspapers, Magazines, Dell (DELL), FedEx Corp (FDX), Rio Tinto plc ADS (RIO), Liz Claiborne (LIZ)

MAJOR PAPERS:

Thanks to a downturn in sales, sportswear maker Liz Claiborne Inc (NYSE: LIZ) will seek to divest itself of 16 of its 36 apparel brands, equal to about $800 million of its $5 nillion in annual revenue, reported the Wall Street Journal (subscription required)
The Financial Times (subscription required) reported that Dell Inc (NASDAQ: DELL) has listened to customer concerns and has moved to eliminate "trialware" from a range of small business laptops and desktops computers.

OTHER PAPERS:

British mining company Rio Tinto plc (NYSE: RTP) is believed to be preparing a $34 billion, or $90 per share, takeover bid for Canadian aluminum company Alcan Inc (NYSE: AL), reported the U.K. Times.
According to the Economic Times, FedEx Corporation (NYSE: FDX) has failed in its attempt to buy out Indian logistics company SafeExpress.
The Chicago Tribune reported that the U.S. faces an "increased risk" of a terror attack this summer, according to U.S. Homeland Security Secretary Michael Chertoff.

Newspaper wrap-up 7-10-07: BHP talking with private equity about possible Alcoa bid

Posted Jul 10th 2007 9:15AM by Eric Buscemi (RSS feed)
Filed under: Newspapers, Magazines, Citigroup Inc. (C), Alcoa Inc (AA), NYSE Euronext (NYX), Barclays plc ADS (BCS), BHP Billiton Ltd ADR (BHP)

MAJOR PAPERS:

According to the Wall Street Journal (subscription required), NYSE Euronext Inc (NYSE: NYX) is investigating the trading of ABN Amro Holdings NV (NYSE: ABN) shares in March when it announced it may sell itself to Barclays plc (NYSE: BCS).
Barron's (subscription required) "Inside Scoop" column reported that hedge fund ValueAct Capital Partners has boosted its stake in Advanced Medical Optics Inc (NYSE: EYE) to 12.6%, up from 9.9% disclosed at the beginning of June.
The Financial Times reported that Citigroup Inc (NYSE: C) is not going to reduce its financing of buyouts in the near future, said Citigroup CEO Chuck Prince.
Spanish telecom company Telefonica SA (NYSE: TEF) has made a EUR3B-plus offer to Portugal Telecom (NYSE: PT) for exclusive control of Vivo Participacoes (NYSE: VIV), reported the Financial Times.

OTHER PAPERS:

Australian mining company BHP Billiton Limited (NYSE: BHP) has opened talks with private equity firms about a possible $40B takeover of aluminum company Alcoa Inc (NYSE: AA), reported the UK Times.

Newspaper wrap-up 7-02-07: Virgin Media on the block?

Posted Jul 2nd 2007 9:20AM by Eric Buscemi (RSS feed)
Filed under: Newspapers, Magazines, News Corp'B' (NWS), , Kraft Foods'A' (KFT),

MAJOR PAPERS:

A small group of lawyers who hold overlapping roles in a number of trusts held by by the Bancroft family that controls Dow Jones and Company Inc (NYSE: DJ), may have final say on whether or not to sell the company to Rupert Murdoch's News Corporation (NYSE: NWS), according to the Wall Street Journal.
The Wall Street Journal reported that Bear Stearns Companies Inc (NYSE: BSC) has told investors in its two hedge funds, the Bear Stearns High Grade Structured Credit Strategies Enhanced Leverage fund, that it will know the total hedge fund losses on about July 16.
The Financial Times reported that Kraft Foods Inc (NYSE: KFT) is in talks with Danone (NYSE: DA) to acquire its biscuit and cereal products unit.

OTHER PAPERS:

The U.K. Times reported that Virgin Media Inc (NASDAQ: VMED) has been approached informally by a potential buyer with an $8B takeover offer, according to people familiar with the matter.
The New York Times also reported on Virgin Media's possible takeover, saying the potential buyer was Carlyle Group, and the price tag was about $20B.

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 6-25-07: eBay takes Google's AdWords back

Posted Jun 25th 2007 9:15AM by Eric Buscemi (RSS feed)
Filed under: Newspapers, Magazines, Google (GOOG), eBay (EBAY), General Electric (GE), News Corp'B' (NWS),

MAJOR PAPERS:

The Wall Street Journal (subscription required) reported that online auctioneer eBay Inc (NASDAQ: EBAY) has resumed advertising with Google Inc (NASDAQ: GOOG), after having pulled its ads to prove that it didn't need to spend as heavily on Google's AdWords.
The Financial Times reported that some inside and outside of Lazard Ltd (NYSE: LAZ) are questioning if CEO Bruce Wassertein has given the company a sustainable model that will be able to thrive without the current "dealmaking binge."
According to the Financial Times, citing people familiar with the situation, News Corporation's (NYSE: NWS) Rupert Murdoch is looking beyond its $5B offer for Dow Jones and Company Inc (NYSE: DJ) in search of Internet acquisitions or a deal involving MySpace.

OTHER PAPERS:

Also concerning News Corp and Dow Jones, the U.K. Times reported that the Bancroft family, which controls Dow Jones, asked late Friday for two seats on News Corp's board, which is one more than Rupert Murdoch has been willing to offer.
General Electric Company (NYSE: GE) is seeking to build a diesel locomotive plant in India, in partnership with Indian railway companies, reported Business Standard.
Yediot Ahronot reported that Nice Systems Limited (NASDAQ: NICE) is in talks to acquire Actimize for $280M.

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 6-20-07: Kerkorian deal for the Bellagio off

Posted Jun 20th 2007 9:15AM by Eric Buscemi (RSS feed)
Filed under: Newspapers, Magazines, Microsoft (MSFT), Yahoo! (YHOO), Toyota Motor Corp. (TM), News Corp'B' (NWS)

MAJOR PAPERS:

The Wall Street Journal reported that Toyota Motor Corporation (NYSE: TM), which launched a factory-building blitz five years ago, is now being urged by senior members of the founding family to stop building factories in the United States on fears it will hurt the company's efficiency.
Kirk Kerkorian, who controls MGM Mirage (NYSE: MGM), had planned to buy the Bellagio Hotel and Casino and the $7.4B Project City Center from MGM. But that deal now appears to be off, according to the Wall Street Journal.

OTHER PAPERS:

The U.K. Times reported that News Corporation (NYSE: NWS) has had preliminary talks with Yahoo Inc (NASDAQ: YHOO) about giving its social networking site MySpace to the online search company, in exchange for a 25% stake in Yahoo!.
The New York Times reported that NYC Mayor Michael Bloomberg will leave the Republican Party and register as an Independent.
The New York Times also reported that Microsoft Corporation (NASDAQ: MSFT) will pay Take-Two Interactive Software (NASDAQ: TTWO) $50M for two exclusive downloadable episodes of Grand Theft Auto for the Xbox 360.

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 5-23-07: Wal-Mart may buy stake in Indian company

Posted May 24th 2007 9:15AM by Eric Buscemi (RSS feed)
Filed under: Newspapers, Magazines, Wal-Mart (WMT), Exxon Mobil (XOM), Alcoa Inc (AA), Tiffany and Co (TIF), BHP Billiton Ltd ADR (BHP), Rio Tinto plc ADS (RIO)

MAJOR PAPERS:

The Wall Street Journal reported that Alcoa Inc (NYSE: AA) said it won't raise its $27.62B bid for Alcan Inc (NYSE: AL), possibly opening the door for rivals such as BHP Billiton Limited (NYSE: BHP) and Rio Tinto plc (NYSE: RTP).
The Wall Street Journal's "Heard on the Street" column reported that analysts and investors think there's more room for growth at Tiffany & Co (NYSE: TIF).
The Financial Times reported that institutional investors are looking to oust a board member at Exxon Mobil Corporation (NYSE: XOM) due to his "inaction" on their climate change strategy.

OTHER PAPERS:

The U.K. Times reported that HSBC Holdings (NYSE: HBC) is looking to expand into Colombia.
The Economic Times reported that Wal-Mart Stores Inc (NYSE: WMT) may buy a stake in Indian logistics company Radhakrishna Foodland, citing the Indian company's founder.

Newspaper wrap-up 5-21-07: Google may form partnership with Salesforce.com

Posted May 21st 2007 9:20AM by Eric Buscemi (RSS feed)
Filed under: Newspapers, Magazines, Internet, Google (GOOG), Microsoft (MSFT), Yahoo! (YHOO), Teva Pharm Indus ADR (TEVA), salesforce.com inc (CRM),

MAJOR PAPERS:

Google Inc (NASDAQ: GOOG) and online services company Salesforce.com Inc (NYSE: CRM) may form a partnership to better compete with Microsoft Corporation (NASDAQ: MSFT), reported the Wall Street Journal (subscription required).

OTHER PAPERS:

The U.K. Times reported that Warner Music Group Corporation (NYSE: WMG) is expected to offer EMI Group (OTC: EMIPY) a "£100 million sweetener" to try and keep the company from accepting an offer from private equity.
According to The Observer, Royal Bank of Scotland (OTC: RBSPY), along with its partners Fortis and Banco Santander Central Hispano (NYSE: STD), hope to "table" a £47 billion offer for ABN Amro Holdings (NYSE: ABN) this week.
The Observer reported that a private equity consortium is considering a $15 billion offer for Virgin Media Inc (NASDAQ: VMED).
Cadbury Schweppes ADS (NYSE: CSG) is planning to return £5 billion to shareholders through a special dividend or share buyback, according to The Observer.
The Sunday Telegraph reported that UBS AG (NYSE: UBS) will offer to buy out the pension schemes of some of the leading FTSE100 companies next week.
Yahoo! Inc (NASDAQ: YHOO) may be looking to acquire British social networking site Bebo, the Sunday Telegraph reported.
The Bollywood film producer, Eros International, is expected to announce a partnership with Google Inc's (NASDAQ: GOOG) YouTube, the Sunday Telegraph reported.
Teva Pharmaceutical Industries Limited's (NASDAQ: TEVA) Copaxone will face generic competition for the first time, but will not see an impact immediately, Ha'aretz reported.

WEBSITES:

The Orange County Register blog looked at a transcript from IndyMac Bancorp Inc's (NYSE: IMB) first quarter conference call, where the CEO Michael Perry said: "When you see that delinquency number in the press of 13% subprime delinquencies, it's hugely understated. It is absolutely hugely understated. And the prime delinquencies are overstated. The subprime delinquencies are more like 18, 20, 22% delinquencies and that's where I think you're going to see the problems."

Newspaper wrap-up 5-2-07: Cablevision on the verge of going private

Posted May 2nd 2007 9:15AM by Eric Buscemi (RSS feed)
Filed under: Newspapers, Magazines, Sprint Nextel Corp (S), , Gap Inc (GPS), , Qwest Communications Intl (Q)

MAJOR PAPERS:

Barron's Online's "Weekday Trader" column wrote that the takeover talk in telecom stocks Alltel Corporation (NYSE: AT), Qwest Communications International Inc (NYSE: Q), and Sprint Nextel Corporation (NYSE: S) may be overblown, as the logical acquirers for the companies appear uninterested, according to people familiar with the sector.
The Wall Street Journal reported that Dolan family, founders of Cablevision Systems Corporation (NYSE: CVC), are on the verge of taking the company private in a deal estimated to be worth about $10.5B.
The Wall Street Journal's "Heard on the Street" column discussed Rupert Murdoch's $5B play for Dow Jones and Company (NYSE: DJ), saying the Bancroft family may eventually find it difficult not to take Murdoch's offer.

OTHER PAPERS:

The U.K. Times has learned that the U.S. Department of Justice is in talks to launch a formal inquiry into "alleged bribery and corruption" at BAE Systems (OTC: BAESY).
According to a New York Post exclusive, Gap Inc (NYSE: GPS) is considering sizeable layoffs, to reduce expenses at the struggling retailer.