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Newspaper wrap-up: More subprime woes

MAJOR PAPERS:
  • French bank BNP Paribas' Investment Partners unit is temporarily suspending three of its funds because of a lack of liquidity in the market as a result of the troubled subprime mortgage market, reported the Wall Street Journal (subscription required).
  • Toyota Motor Corporation (NYSE: TM) will delay for one or two years its new high mileage hybrids with lithium-ion battery technology due to possible safety problems, reported the Wall Street Journal.
  • Campbell Soup Company (NYSE: CPB) is putting its Godiva Chocolatier up for sale, reported the Wall Street Journal.
  • Barron's Online's (subscription required) "Weekday Trader" argued that it may be time to take profits in Chipotle Mexican Grill Inc (NYSE: CMG), as the company hit a record high yesterday and trades at an enormous multiple.
  • The Financial Times (subscription required) reported that MMC Energy Inc (NASDAQ: MMCE) is not entering the ethanol market as the company does not believe it can be profitable yet.
OTHER PAPERS:
  • The U.K. Times reported that Oracle Corporation (NASDAQ: ORCL) president Charles Phillips said a global credit crunch will help Oracle as it will hurt competing private equity firms from raising cheap capital.

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Last updated: February 13, 2012: 05:44 PM

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