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Last night there was an initial public offering filing from a company called BJB Career Education Company, Limited. This is a Chinese IT training company and it plans to list its ADS’s on the NYSE under the stock ticker “BJB.” No financial terms of the deal were announced in the first filing from the company, but its amended filing showed the typical “up to $100 million in shares sold.” It did list the underwriters as Credit Suisse and Goldman Sachs as the book-runners, and William Blair and Piper Jaffray as co-managers in the offering.
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Posts related to ‘Technology’
Chinese ADS IPO Filing: BJB Career Education Company (BJB)
52-Week High Club
American Eagle Outfiters Inc. (NYSE: AEO) hit a yearly high of $18.08 after the clothing vendor announced that it had raised its 3Q09 EPS estimate to $0.24-$0.26 from $0.22-$0.25.
Anheuser-Busch InBev SA (NYSE: BUD) hit a yearly high of $48.19 after yesterday’s announcement that the company would be setting its theme park business to private equity firm Blackstone Group for $2.7 billion.
Colgate-Palmolive Company (NYSE: CL) hit a yearly high of $79.03 after the company declared a quarterly cash dividend of $0.44 per common share, payable on the 13th of November to all those in possession of the shares as of October 26th.
3Com Corporation (NASDAQ: COMS) hit s yearly high of %5.54 after yesterday’s annoumcement that the company had entered into contracts with the Republic of Korea Army and Republic of Korea Air Force to upgrade their local area networks.
Garrett W. McIntyre
52-Week High Club (SAN, CEL, TWLL)
Banco Santander Chile (NYSE: SAN) hit a yearly high of $56.51, continuing to rally
following the release of positive research on Latin American banks from Barclays. The company has also benefited from positive reception to the announcement its fellow subsidiary, Banco Santander Brasil, would be selling its stakes in credit card rating company Visanet and the Serasa credit information bureau to Santusa Holdings S.L.
Cellcom Israel Ltd (NYSE: CEL) hit a yearly high of $31.14 following an announcement that it would be exploring collaboration and merger opportunities.
Techwell Inc (NASDAQ: TWLL) hit a yearly high of $10.70 after the company raised its 3Q revenue projection.
Garrett W. McIntyre
US May Take Fifteen Years To Catch South Korea Internet Speeds
American internet speeds are slow, very slow by international standards. That may be one of the reasons that the $787 billion economic stimulus package has a large financial commitment to building broadband infrastructure.
The US ranks 28th among large countries in internet connection speeds according to new data from the Communications Workers of America. The organizations has a reason to track the information. Many of the union members’ jobs rely on cable and telecom firms continuing to invest to build larger broadband systems, particularly the communications giants Comcast (CMCSA), Time Warner Cable (TWC), AT&T (T) and Verizon (VZ). Read More
PCs Getting So Cheap, Consumers Return To Stores
The good news for PC companies is that consumers are starting to buy computers again. The bad news is that they are not paying very much for the machines.
The “new” PC business is dominated by inexpensive laptops and netwooks, some of which have prices as low as $300. Most research shows that Apple (AAPL) dominates the market for laptops with prices over $1,000, leaving the less desirable market of low-cost PCs to companies such as Dell (DELL), HP (HPQ), Lenovo, and Acer. Read More
Microsoft + Yahoo!: A Deal Without A Boss
Wall St. found a lot of things wrong with the joint venture in the search engine industry between Microsoft (MSFT) and Yahoo! (YHOO)
The smaller company’s stock dropped 12% and analysts felt that it was particularly badly served by the actions of its relatively new CEO Carol Bartz. Investors wanted Microsoft to pay upfront for the privilege of having access to Yahoo!’s 20% of the US market. Rumors were that Yahoo! would get a lump sum of $2 billion at closing, and instead, it got nothing. Read More
Venture Capitalists Abandon Their Market
The National Venture Capital Association says that VC investments fell slightly more than 50% in the second quarter.
The group reports that just 25 venture capital funds raised $1.7 billion in the second quarter of 2009. “This level represents the smallest number of venture funds raising money in a single quarter since the third quarter of 1996 (21 funds) and the lowest level of dollars committed since the first quarter of 2003 when $938.1 million was raised”.the NVCA reported. Read More
IBM (IBM) Earnings: Walk-Off Home Run
IBM’s (IBM) quarterly figures for the second period of the year not only beat analysts’ estimates; they beat whisper figures which were much higher. IBM reported EPS of $2.32 up 18%. Wall St. had expected $2.01.
Revenue was $23.3 billion, down 13%. IBM had net income of $3.1 billion, up 12%.
The most important news from the earnings announcement is that IBM increased its EPS guidance for the year, fairly extraordinary given the state of the economy. The tech giant raised its forecast to $9.70 from $9.20. Read More
The Best Short-Selling Opportunities Of The Year (C)(GE)(F)(SBUX)(SIRI)
There is still some conversation about the federal government restricting short-selling activity in certain stocks. The counterargument to these restrictions is that short selling plays an important role in the valuation of securities by efficiently allowing investors to bet that a stock will fall as readily as they can bet that it will rise. Short sellers have the reputation, whether deserved or not, for trying to manipulate information about public companies with the hope of driving their prices down. That may be true.
24/7 Wall St. has come up with a list of the best short-selling opportunities between now and the end of the year. The list was chosen based on: 1) trading volume, 2) the total short position in the stock over the first half of the year, 3) a history of the short position in these stocks rising or falling rapidly, and 4) stocks in companies that tend to move on news throughout the year and not just on earnings information. Read More
The Power Of Branding: Apple (AAPL) iPhone’s Extraordinary Margins
Software is supposed to be a high margin business and hardware a sector in which most companies struggle with gross margins. Hardware components are expensive and there is almost no getting around that.
Apple (AAPL) does not live by the rules that the rest of the tech industry does, so it may not come as a surprise that research firm iSuppli says that it only costs $178.96 to make the new 16GB iPhone 3G S. Most industry experts report that carriers like AT&T (T) pay $600 for the units. The iPhone has a 71% gross margin. Read More
Media Digest 6/24/2009 Reuters, WSJ, NYTimes, FT, Bloomberg
Reuters: The head of a Congressional watchdog committee is pushing for a consumer protection agency.
Reuters: China defended its export policies against a WTO complaint.
Reuters: Citigroup (C) intends to raise the base pay of key employees.
Reuters: Apple’s (AAPL) Jobs has an excellent prognosis after recent surgery. Read More
Media Digest 6/16/2009 Reuters, WSJ, NYTimes, FT, Bloomberg
Reuters: The US outlined new financial market reforms.
Reuters: Obama lobbied MDs on his new healthcare package.
Reuters: Russia hosted the first BRIC summit.
Reuters: B of A’s (BAC) BlackRock (BLK) stake is more appealing.
Reuters: Samsung and Nokia (NOK) are pushing into smartphones. (MOT)(AAPL)(RIMM). Read More
Even Google (GOOG) Pays Attention To Microsoft’s (MSFT) Bing
There are a growing number of reports that Microsoft’s (MSFT) new Bing search engine is causing a little perspiration to break out on the foreheads of the people who run Google (GOOG). Early industry research shows that Microsoft’s search market share surged in the two weeks after Bing reached the market. Read More
Media Digest 6/12/2009 Reuters, WSJ, NYTimes, FT, Bloomberg
Reuters: Baclays (BCS) sold BCI to Blackrock (BLK) for $13.3 billion
Reuters: WHO declared a flu epidemic
Reuters: Congress bash Fed, Treasury, and B of A (BAC) on Merrill
Reuters: US is near tighter control of tobacco by FDA.
Reuters: New research shows mortgage delinquencies have bottomed
Reuters: World Bank sees a steeper global economy contraction. Read More
Media Digest 6/5/2009 Reuters, WSJ, NYTimes, FT, Bloomberg
Reuters: Rio Tinto (RTP) has killed a deal with Chinalco for one with BHP (BHP).
Reuters: US regulators insisted JP Morgan (JPM) and Amex (AXP) raise money to exit the TARP.
Reuters: Countrywide’s Mozilo was charged with fraud.
Reuters: The suspense is building ahead of one of Apple’s (AAPL) big annual events. Read More
Media Digest 6/4/2009 Reuters, WSJ, NYTimes, FT, Bloomberg
Reuters: GM and Chrysler said closing dealers was essential to their restructuring.
Reuters: The Justice Department is probing big tech employee recruiting.
Reuters: Medical bills underlay 60% of American bankruptcies. Read More
Media Digest 6/2/2009 Reuters, WSJ, NYTimes, FT, Bloomberg
Reuters: Global consumer confidence is improving.
Reuters: GM (GM) filed for Chapter 11 and expects a quick exit.
Reuters: Most US retailers probably had sales drop in May.
Reuters: China gave Geithner backing for the US programs to stimulate the economy. Read More
Media Digest 6/1/2009 Reuters, WSJ, NYTimes, FT, Bloomberg
Reuters: GM (GM) will file for Chapter 11 today.
Reuters: Geithner told China its dollar assets are safe.
Reuters: A judge approved the sale of most of Chrysler’s assets to a group led by Fiat.
Reuters: German cut a deal to save Opel.
Reuters: Private equity firm KKR lost $1.8 billion last year.
Reuters: Elan is in talks to sell a stake to Bristol-Myers (BMY).
Reuters: China’s economy is stabilizing and exports moved up slightly.
Reuters: The Fed is puzzled by the steepening of the yield curve.
WSJ: Ford (F) will increase production next quarter in an attempt to take business from its rivals.
WSJ: “Lawmakers are pressing the Treasury Department to close a loophole to protect Social Security and disability benefits deposited in bank accounts from creditors.”
WSJ: Emulux is expanding its push to prevent a takeover by Broadcom (BRCM).
WSJ: Merck (MRK) and AstraZeneca are testing a new experimental cancer drug.
WSJ: Geithner urges China to open its economy.
WSJ: Emerging nations are increasing demand for key resources.
WSJ: The Fed’s attempt to keep mortgage rates low is not working well.
WSJ: The IMF expects jobs to trail GDP growth.
WSJ: The demand for oil is staying low.
WSJ: Weak demand for electricity could help consumers this summer.
WSJ: Foreclosures are having a mixed impact on sales.
WSJ: Temasek Holdings may sell its holding in Chartered Semiconductor.
WSJ: Losses at homebuilders are expected to narrow.
WSJ: International markets are at the center of the new stock rally.
WSJ: The ISM data may not show a sharp recovery in the economy.
WSJ: Improving results at banks are sending them on hiring sprees.
WSJ: Commercial real estate will be a drawn-out problem for banks.
WSJ: Retailers are felling the impact for foreclosures.
NYT: The Big Three are no longer in a position to help bring the economy out of a recession.
NYT: The battle for trading derivatives is at the heart of how much regulation of the banks is too much.
NYT: Google (GOOG) will take on Amazon (AMZN) in the e-book business.
FT: Microsoft (MSFT) and Sony (SNE) are taking aim at the market share of the Nintendo Wii.
FT: A new reports says that the rebound in stocks cannot be sustained.
FT: The US energy markets are bracing for hurricane season.
Bloomberg: Goldman Sachs (GS) says commodity demand will produce a 19% return this year.
Douglas A. McIntyre
Short Sellers Flee Tech Stocks (MSFT)(CSCO)(ORCL)(JNPR)
The sharp rally in technology stocks over the past two weeks has pushed short sellers out of the market.
The short interest in Microsoft (MFST) fell 29% in the period ending May 15 to 56.5 million shares. Shares sold short in Cisco (CSCO) dropped 26% to 50.1 million. The short interest in Oracle (ORCL) plunged 26% to 37.4 million. Shares short in Juniper (JNPR) dropped 18% to 43.2 million. Read More
Congress And Credit Cards: The Death Of Privacy, The Sunset Of Lying
The development and growth of technology has had some unexpected and unpleasant side effects. One is the death of privacy. People with cell phones snap pictures and take videos of strangers. Webcams make online dating harder. Those seeking romance find it much more difficult to lie about their ages Read More
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Today’s top tickerspy Indexes Pollution Control... +3.0% Department Store ... +3.0% Platinum and Pall... +2.9% Canadian Mining S... +2.7% Cement Stocks +2.6% 
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