Reuters: House Democrats unveiled their healthcare bill.
Reuters: Senators may extend home purchase credits until April.
Reuters: China will launch a case against The Big Three auto companies.
Reuters: Galleon paid Wall St. bankers millions to give data that would allow a trading “edge.” Read More
Reuters: China is having trouble managing supply and demand.
Reuters: Geithner said the core programs of the TARP are ending.
Reuters: Yahoo! (NASDAQ:YHOO) tripled it profits.
Reuters: Sun Microsystems (NASDAQ:JAVA) will cut 3,000 jobs due to delays in the Oracle (NASDAQ:ORCL) buyout of the company. Read More
Reuters: GM says most of its cost cutting is done and its sales chief left.
Reuters: Spot gold hit a record above $1,050.
Reuters: The Senate healthcare bill weighs in at $829 billion.
Reuters: Dell (NASDAQ:DELL) plans its first smartphone to be launched with AT&T (NYSE:T) using the Google (NASDAQ:GOOG) Android OS Read More
Updated throughout the day.
Updated 2:44 Dell Inc. (NYSE: DELL) will launch a branded Android smartphone thru AT&T Inc. (NYSE: T) and possibly other carriers next year. Source today is from WSJ, but ask this… How many phone and consumer electronics announcements have been rumored on Dell?
Updated 1.36 PM EST: Pimco left the bondholders steering committee at CIT (NYSE:CIT) last month (CNBC)
Updated 12.45 PM: Polycom (NSADAQ:PLCM) could be taken over by Hewlett-Packard (NYSE:HPQ) or Dell (NASDAQ:DELL). Interdigital (NASDAQ: IDCC) could be bought by Nokia (NYSE:NOK) and ValueClick (NASDAQ:VCLK) could be taken over by any one of a number of companies. (Barron’s)
Updated 12.41 PM: GM head of American sales leaves amid talk that car company CFO may be next (CNNMoney)
Update 10.50 AM EST: Congress may pass a bill which will require that public companies split the roles of chairman and CEO. (MarketWatch)
Thomson Reuters (NYSE:TRI) may be involved in the bidding for McGraw-Hill’s (NYSE:MHP) BusinessWeek working jointly with Zelnick Media. Strauss Zelnick is on the boards of Blockbuster (NYSE:BBI) and Take-Two Interactive (NASDAQ:TTWO) (PaidContent).
Citigroup (NYSE:C) may sell it Philbro unit which is paying its chief $100 million this year. (CNBC)
Bank of America (NYSE:BAC) has narrowed its list of CEOs to two people (WSJ).
Foxconn has a deal to make 300,000 to 400,000 Apple (NASDAQ:AAPL) tablet PCs to ship in Q1 (DigiTimes)
Collins Stewart believes that Google (NASDAQ:GOOG) and Yahoo! (NASDAQ:YHOO) are on the lookout for acquisitions. (The Deal).
Share sales by Steve Wynn, head of Wynn (NASDAQ:WYNN), and his COO may be” a canary in the coal mine to other investors to take some profits on the gains in this sector since the March lows.” That would include MGM (NYSE:MGM) and Las Vegas Sands (NYSE:LVS) (TheStreet.com)
Private equity firms Bain Capital and THL Partners are asking banks that supported their buy-out of Clear Channel Communications to help restructure the firm’s debt. Those banks include Citigroup (NYSE:C), Credit Suisse (NYSE:CS), Deutsche Bank (NYSE:DB), and Morgan Stanley (NYSE:MS). (NYPost)
News Corp (NYSE:NWS) CEO Rupert Murdoch is in Japan and South Korea and may be discussing partnerships to build a rival product to the Amazon (NASDAQ:AMZN) Kindle. (Reuters)
Vivendi will discuss selling its 20% stake in GE’s (NYSE:GE) NBCU at its October 19 board meeting to allow a transaction with Comcast (NADSAQ:CMCSA) which would involve the cable company getting control of media firm. (BusinessWeek)
JPMorgan (NYSE:JPM) executive Heidi Miller could be in the running for the CEO job at Bank of America. (The Big Money)
Douglas A. McIntyre
Markets in Asia were up slightly with Shanghai closed.
The Nikkei rose .2% to 9.692.
The Hang Seng was up .7% to 29,564.
At the open in Europe, the FTSE rose .6% to 5,054. The Dax was higher by .6% to 5,541. Deutche Bank (DB) rose. The CAC 40 was up .5% to 3,695. BNP Paribas (BNP) rose.
Data from MarketWatch and Reuters.
Douglas A. McIntyre
Reuters: Obama pushed his economic message before the G20 summit
Reuters: A Senate panel took up healthcare legislation.
Reuters: Bank of America (BAC) missed a deadline for supplying information from Congress and now faces another threat from the SEC. Read More
Reuters: Sales growth of Ford (F) and Hyundai topped other car companies.
Reuters: The EU could slow a takeover of Sun (JAVA) by Oracle (ORCL).
Reuters: Home sales and factory orders signaled an end to the recession.
Reuters: Executives a bailed out banks may make millions on stock options. Read More
It has been no secret that the CFTC is looking into many exchange traded notes and exchange traded funds that deal in the energy markets, along with other futures and other investment vehicles, to see how the role of speculators has played in the price swings in the commodity markets. Today came the announcement that one ETN is going to be killed (ergo redeemed) as a result.
Deutsche Bank announced that it will redeem all outstanding units of its PowerShares DB Crude Oil Double Long Exchange Traded Notes (NYSE: DXO). The financial firm said that limitations imposed by the exchange on which Deutsche Bank manages the exposure of the notes have resulted in a “regulatory event” as defined in the terms of the notes… and this is causing Deutsche Bank to redeem the notes.
Read More
Reuters: Video games hope to make a comeback with new titles and price cuts.
Reuters: “Cash for clunkers” should help July car figures.
Reuters: USB (UBS) shares should do well after it settled with the US.
Reuters: China’s build-up in commodities inventory could hurt future prices. Read More
Reuters: Unemployment is causing further stress in the housing market.
Reuters: The Microsoft (MSFT) deal with Yahoo! (YHOO) may have challenges with regulators.
Reuters: Sony (SNE) lost money on weakness in its TV business.
Reuters: The Senate is looking the roles at Goldman Sachs (GS) and Deutsche Bank (DB) may have played in last year’s meltdown in mortgage markets. Read More
The following are some of the top stocks to watch for active trading today based on pre-market and after-hours volume activity. There are links through to more detailed coverage and volume analysis at VSInvestor.com:
SPSS Inc (Nasdaq: SPSS) shares are up 41 percent after getting a $1.2 billion takeover offer from IBM.
United States Steel Corp. (NYSE: X) shares are falling in very active trade after it missed revenue expectations and said its outlook for overall steel demand remains uncertain.
Vical Inc. (Nasdaq: VICL) shares up strongly as one of the most active premarket issues after it received a direct investment.
Amgen Inc. (Nasdaq: AMGN) shares are seeing wishy-washy trading after earnings and a partnership.
Ariad Pharmaceuticals (Nasdaq: ARIA) are among the most active premarket stocks, following positive preliminary clinical data.
Deutsche Bank AG (NYSE: DB) shares are down 8 percent in very active premarket trading after reporting a larger provisions for credit losses.
Coach Inc. (NYSE: COH) shares are down more than 5 percent in the premarket on reporting earnings that were merely in line.
LaserCard Corp. (Nasdaq: LCRD) is among the biggest premarket percentage gainers after beating earnings expectations by 18 cents a share.
Check Point Software Technologies Ltd. (Nasdaq: CHKP) shares are rising in active premarket trade after beating EPS by 2 cents a share.
-The 24/7 Wall St. Team
Markets in Asia were narrowly mixed.
The Nikkei was down a fraction of a percent at 10,087.
The Hang Seng was up 1% to 20,444. China Mobile (CHL) and China Unicom (CHU) both rose.
The Shanghai Composite was up .1% to 3,238.
At the open in Europe, The FTSE rose .4% to 4,605. BP (BP) moved up. The Dax increased by .3% to 5,267. Deutsche Bank (DB) was up sharply. The CAC 40 moved up .3% to 3,383.
Data from Reuters and MarketWatch.
Douglas A. McIntyre
Reuters: Microsoft (MSFT) is putting more R&D in India.
Reuters: CIT (CIT) confirmed that it rasied $3 billion.
Reuters: Bernanke said Fed can control inflation.
Reuters: California lawmakers agreed to a state budget.
Reuters: Small business groups are seeking help to keep companies afloat.
Reuters: TI (TXN) profits and outlook beat expectations. Read More
These are some of the top pre-market analyst upgrades, downgrades, and initiations we have seen from Wall Street with about two and a half hours until the market opens:
Alcatel-Lucent (ALU) Raised to Buy at BofA/Merrill.
Chico’s FAS (CHS) Started as Buy at Jefferies.
Children’s Place (PLCE) Started as Buy at BofA/Merrill.
Deutsche Bank (DB) Started as Outperform at FBR.
Goldman Sachs (GS) Raised to Outperform at KBW.
International Game Tech (IGT) Raised to Buy at Janney Montgomery.
Intercontinental Exchange (ICE) Raised to overweight at Barclays.
Moody’s (MCO) Raised to Hold at Jefferies.
Waste Services (WSII) Started as Neutral at JPMorgan.
3PAR (PAR) Cut to Neutral at Merriman Curhan Ford.
Jon C. Ogg
July 15, 2009
Markets in Asia were higher
The Nikkei rose 2.3% to 9,262.
The Hang Seng was up 2.8% to 17,744. HSBC (HBC) was up 5%.
The Shanghai Composite rose 2.1% to 3,145.
At the open in Europe, the FTSE rose .1% to 4,208. Rio Tinto (RTP) traded higher. Vodafone (VOD) traded down The Dax was flat at 4,722. Deutsche Bank (BD) rose. The CAC 40 was down .1% to 3,049.
Data from MarketWatch and Reuters.
These are the top ten analyst calls of upgrades, downgrades, and initiations we have seen from Wall Street early this Wednesday morning with more than two hours until the market opens:
Jon C. Ogg
June 24, 2009
Apollo Management’s Hexion Specialty Chemicals offered $6 billion to buy chemical company Huntsman (HUN) in July 2007, a bid which would have given stockholders $27.25 a share. Over the course of the next year, as fear about the deal not closing grew, Huntsman (HUN) shares fell below $11 last July. Apollo had begun to back out of the contact and the two banks that were planning to finance the buyout, Credit Suisse (CS) and Deutsche Bank (DB), walked away from the transaction. Their reluctance was understandable. The economy had fallen apart and earnings at chemical companies were demolished as demand for their products disappeared. Read More
Reuters: Obama proposed sweeping reform for financial industry.
Reuters: A number of large banks repaid TARP. (JPM)(GS)(BBT)(COP)(STT)(AXP)(USB)
Reuters: Consumer prices show inflation is in check.
Reuters: China could still be a big buyer of US debt.
Reuters: NYSE will create a derivatives clearing house. Read More
Reuters: The heads of the emerging markets, the so-called BRICs, held their first global summit.
Reuters: Obama will be tested this week on financial reforms.
Reuters: Rich nations are working on an exit from stimulus packages.
Reuters: Pfizer (PFE) is trying to do deals to improve its emerging market presence. Read More
These are some of the top pre-market analyst upgrades and positive research calls we have seen from Wall Street research calls early this Wednesday morning:
Alnylam (ALNY) Started as Buy at Jefferies and at Roth.
Deutsche Bank (DB) Raised to Neutral at JPMorgan.
Drugstore.com (DDSCM) Started as Buy at Janney Montgomey Scott.
Olympic Steel (ZEUS) Raised to Buy at KeyBanc.
Sepracor (SEPR) Started as Buy at Sun Trust Robinson Humphrey.
US Steel (X) Raised to Buy at KeyBanc.
Yahoo! (YHOO) Raised to Buy at Soleil.
JON C. OGG
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