The list of Unusual Suspects for the week ahead is a rather different list. Some are due with earnings, some have FDA events, and others just have shareholder specific events coming down the pipe. Some of the key issues we will be watching this week are AMBAC Financial Group Inc. (Pink Sheets: ABKFQ), Apple Inc. (NASDAQ: AAPL), BHP Billiton plc (NYSE: BHP), The Blackstone Group LP (NYSE: BX), Dynegy Inc. (NYSE: DYN), Boston Scientific Corporation (NYSE: BSX), Caesars Entertainment (NYSE: CZR), Dell Inc. (NASDAQ: DELL), E*TRADE Financial Corporation (NASDAQ: ETFC), Genzyme Corporation (NASDAQ: GENZ), General Motors (NYSE: GM), Human Genome Sciences Inc. (NASDAQ: HGSI), JinkoSolar Holding Co., Ltd. (NYSE: JKS), MELA Sciences, Inc. (NASDAQ: MELA), National Bank of Greece SA (NYSE: NBG), Petroleo Brasileiro (NYSE: PBR), Reynolds American Inc. (NYSE: RAI), Seagate Technology PLC (NASDAQ: STX), Sensata Technologies Holding N.V. (NYSE: ST), Wal-Mart Stores Inc. (NYSE: WMT), and The Home Depot, Inc. (NYSE: HD). We have compiled notes and offered color on each as the new week events are set to unfold.
AMBAC Financial Group Inc. (Pink Sheets: ABKFQ) is bankrupt and is now a Pink Sheet listed stock. The stock trades as ABKFQ rather than ABK. Hearings start Monday NOV. 15 for the bankruptcy process and many creditors and mortgage investors in the line of creditors may have an unusual fight ahead of themselves. If you are a common shareholder, you can probably count on using those share certificates as fuel for a fire or ground pulp as a food filler if things ever get too tough.
Apple Inc. (NASDAQ: AAPL) was one of the NASDAQ’s high-flyers to get its wings clipped on Friday. An SEC Filing from Capital Growth Management showed that esteemed portfolio manager Ken Heebner had cuts CGM’s stake by some 90% or so now that its shares have rocketed so much higher. Shares were down 2.7% at $308.03 Friday.
BHP Billiton plc (NYSE: BHP) will have an interesting day on Tuesday. Its shareholders at a meeting get a chance to question management about its failed attempt to acquire Potash Corp. of Saskatchewan. Shares may have slid from above $92 to under $87 this last week, but shares had been at highs despite the merger blockage.
On Wednesday comes a key shareholder vote on The Blackstone Group LP (NYSE: BX) acquisition of Dynegy Inc. (NYSE: DYN); While ISS and others have backed the deal, Carl Icahn and others with close to 20% of the votes are opposing the deal.
Boston Scientific Corporation (NYSE: BSX) will webcast its Investor Day meeting on Friday NOV. 19 at 8:00 AM to 1:30 PM EST. As the perpetual ‘stuck like Chuck’ dead turnaround, it is a sure thing that it will have a feisty investor crowd.
Caesars Entertainment (NYSE: CZR) is set to come public this week (again). This is really Harrah’s, which private equity groups TPG and Apollo bought at the private equity peak in a leveraged buyout the size of nearly $30 billion after all debt had been assumed. More than 30 million shares are expected in a range of $15 to $17 per share.
Dell Inc. (NASDAQ: DELL) is due with earnings after the close on Thursday NOV. 18; full earnings preview available.