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Daily Archives: August 20, 2007

Nothing In Capital One Employee Wallets, Except Pink Slips (COF)

Posted: August 20, 2007 at 3:43 pm

Capital One (NYSE:COF) is closing its wholesale mortgage unit called GreenPoint Mortgage and is lowering guidance.  The company has revised 2007 EPS guidance down by $2.15 to $5.00 per share, ...
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Norm Wesley Transitions Out of CEO Role at Fortune Brands (FO)

Posted: August 20, 2007 at 3:29 pm

Fortune Brands (NYSE:FO) is doing something we didn't expect to see, at least not any time soon.  Its CEO & Chairman, Norm Wesley, is transitioning out of the CEO role ...
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Cramer Talks Fannie, Freddie, Biotech

Posted: August 20, 2007 at 1:49 pm

On today's STOP TRADING segment on CNBC, Jim Cramer discussed Freddie Mac (NYSE:FRE) and Fannie Mae (NYSE:FNM) and said he just took a big profit on Fannie Mae. On Countrywide ...
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Earnings Preview: Target (TGT, WMT, SHLD)

Posted: August 20, 2007 at 1:40 pm

Target Corp. (NYSE:TGT) will report earnings Tuesday morning with a conference call to follow.  Shares closed up Friday but are down with the market today.  First Call is expecting EPS ...
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More on Pending Merger Arb Spreads (FRK, LEND, ACXM, DJ, NWS, VMC, APPB, IHP)

Posted: August 20, 2007 at 1:25 pm

Earlier today, we sent out a couple pieces discussing some of the pending mergers and spreads still having wide ranges.  This can be indicative of a deal at risk, but ...
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Merger Arb Spreads Remain (TXU, TRB,SLM, CEN)

Posted: August 20, 2007 at 1:16 pm

There are over 150 pending mergers out there that have not yet closed.  After last week's Fed actions, there are still some deals out there that are perceived to be ...
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Pending Merger Arb Spreads Remain (Part 1) (ACS, URI, FDC, CCU)

Posted: August 20, 2007 at 1:05 pm

There are still over 150 pending mergers out there that have not yet closed.  After the Fed's recent actions, there are still some deals out there that are perceived to ...
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IPO FILING: Orion Energy Systems, Energy Efficient Lighting Backed By GE (GE, OESX)

Posted: August 20, 2007 at 9:29 am

A lighting-efficiency company named Orion Energy Systems, Inc. has filed to come public via an IPO.  For filing purposes, it has a proposed $100 million stock offering and will trade ...
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How Bad Does Michael Eisner Want A Baseball Card Empire? (TOPP, DIS)

Posted: August 20, 2007 at 8:48 am

The Committee to Enhance Topps announced today that independent proxy advisory firm Institutional Shareholder Services, or "ISS," has recommended that stockholders of The Topps Company, Inc. (NASDAQ:TOPP) vote against the ...
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Yamana’s Offer For Meridian Gold Appears Inadequate (MDG, AUY, GLD)

Posted: August 20, 2007 at 8:27 am

Meridian Gold Inc. (NYSE:MDG) has announced that its Board of Directors unanimously recommends that shareholders reject the amended unsolicited offer by Yamana Gold Inc. (NYSE:AUY) and not tender any of ...
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After More Than 90% Plunges, Investors May Be Nibbling In Mortgage Land (LUM, LEND, NLY)

Posted: August 20, 2007 at 7:23 am

Luminent Mortgage Capital Inc. (NYSE:LUM) and Arco Capital Corporation Ltd. have entered into a Letter of Intent outlining current and proposed transactions intended to address Luminent's current liquidity issues that ...
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Google Fights Back In China

Posted: August 20, 2007 at 7:03 am

Reuters is reporting that Google (GOOG) has taken a stake in Chinese Chinese community Web site Tianya.cn, a move into social networking there. GOOG has stayed out of the business ...
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Pre-Market Stock News (August 20, 2007)

Posted: August 20, 2007 at 7:03 am

(AXP) American Express is selling its private banking unit.(CFC) Countrywide is laying off loan originators and support staff as applications are down and to cut costs.(CHINA) CDC Corp. announced a ...
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Lowe’s Beats, Up In Pre-Market

Posted: August 20, 2007 at 6:55 am

Lowe's (LOW) beat Wall St. forecasts and is trading up over 5% in the pre-market. LOW  reported net earnings of $1.02 billion for the quarter ended August 3, 2007, a ...
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Pre-Market Analyst Calls (August 20, 2007)

Posted: August 20, 2007 at 6:48 am

AGP raised to Buy at Jefferies.CCO raised to Outperform at Bear Stearns.DELL started as Buy at WRHambrecht.DLTR raised to Outperform at Wachovia.DRI raised to Outperform at CIBC.EQT started as BUy ...
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