Posts for Ticker ‘GHL’

52-Week High Club

3Com Corporation (NASDAQ: COMS) rallies over 6% to $5.39 following a positive earnings release on Thursday.

Aspect Medical Systems (NASDAQ: ASPM) rallies over 55% to $11.91 on news that Covidien had agreed to buy the company for $210 million.

Green Mountain Coffee (NASDAQ: GMCR) rallied over 6% today to $75, leading gains among its coffee-vending peers.

BanColombia S.A. (NSYS: CIB) hit a year high of $42.66 on no news but amid a continuing rally in Latin American bank ADRs.

Greenhill (NYSE: GHL) hits a new yearly high of $88.28 as boutique M&A firms continue to benefit from the instability of larger rivals.  

Garrett W. McIntyre

Posted on: September 28, 2009 – 4:42 pm in ADR, Autos, Banking, Biotech, Commodities, Cult Stock, Emerging Markets, Financial Stocks, Telecom, , , , ,

52-Week High Club

BlackRock Inc. (NYSE: BLK) hits a yearly high of $220.17 on analyst upgrade from Deutsche Securities. Most other asset managers saw declines today.

Greenhill & Co. (NYSE: GHL) hit a yearly high of $87.02 , likely on recently optimism concerning a pick up in M&A activity. Goldman Sach (NYSE: GS) also hit a new yearly high.

Apple (NASDAQ: AAPL) hits a yearly high of $188.90 , potentially on news that regulators may change accounting rules in a away that will raise tech profits.

Garrett W. McIntyre

Posted on: September 23, 2009 – 4:16 pm in Analyst Calls, Brokerage Firms, Financial Stocks, Technology Companies, , , ,

Top Analyst Upgrades (BCS, BBBY, DLTR, EMC, GHL, HCN, NTAP, SNH, WSM, INTC)

These are this morning’s top pre-market analyst upgrades, initiations, and positive broker research calls we have seen early this Thursday morning from Wall Street firms:

  • Barclays (BCS) Raised to Outperform at KBW.
  • Bed Bath & Beyond (BBBY) Started as Buy at Citigroup.
  • Dollar Tree (DLTR) Raised to Overweight at Barclays.
  • EMC Corp (EMC) Started as Buy at Citigroup.
  • Greenhill & CO. (GHL) Raised to Neutral from Sell at Goldman Sachs.
  • Health Care REIT (HCN) Started as Outperform at Wells Fargo.
  • NetApp (NTAP) Started as Buy at Citigroup.
  • Senior Housing (SNH) Raised to Outperform at Wells Fargo.
  • Williams-Sonoma (WSM) Started as Buy at Citigroup.

Elsewhere, JPMorgan is maintaining a cautious stance on Intel Corp. (NASDAQ: INTC) on poor demand expectations, but it raisedx its target to $17.00 from $12.00.

JON C. OGG

Posted on: August 27, 2009 – 8:19 am in Analyst Calls, , , , , , , , , ,

IRIDIUM Closer To Going Public, Again (GHL, GHQ)

money-stack-imageIridium Holdings is one step closer to coming public.  The special purpose acquisition company sponsored by Greenhill & Co., Inc. (NYSE: GHL) has announced that the affiliate GHL Acquisition Corp. (NYSE: GHQ) has entered into agreements with certain holder of warrants that will hopefully be the last amended terms in the quest to bring the global satellite phone provider public.  Approximately 26.8 million warrants issued by GHL Acquisition, including 4 million warrants held by Greenhill, will be repurchased or restructured upon closing of its acquisition of Iridium Holdings LLC.
Read More »

Posted on: July 29, 2009 – 10:36 am in IPOs, Mergers and Buy Outs, Private Equity, Satellite, Telecom, Wireless, ,

Top Analyst Upgrades (MT, BBT, EVVV, GHL, WFR, NZ, PBR, SY, STI)

Money Stack ImageThese are the top pre-market analyst upgrades and positive research calls we have seen early this Friday morning with more than two hours until the market opens for trading:

Arcelor Mittal (MT) Raised to Hold at Citigroup.
BB&T Corp. (BBT) Raised to Market Perform at FBR.
ev3 Inc. (EVVV) Started as Outperform at Baird.
Greenhill (GHL) Started as Outperform at William Blair.
MEMC Electronics (WFR) Raised to Buy at Citigroup.
Netezza (NZ) Started as Outperform at William Blair.
Petrobras Brasileiro (PBR) Raised to Buy at UBS.
Sybase (SY) Started as Outperform at Oppenheimer.
SunTrust (STI) Raised to Market Perform at FBR.

JON C. OGG

Posted on: July 10, 2009 – 6:24 am in Analyst Calls, , , , , , , , ,

Citigroup (C): Raises For The Elite

mackJohn Mack of Morgan Stanley (MS) made sure that he had a large base salary for this year, even though his firm nearly fell apart last year. The management of Citigroup (C) also wants to do something for its “best” employees. According to a number of media reports, the bank plans to give its senior investment bankers raises of up to 50%.

It won’t matter. The very best people will flee the Citi pay caps to make millions of dollars at private equity firms and hedge funds. Read More »

Posted on: June 24, 2009 – 4:21 am in Banking, Compensation, , , , ,

Greenhill Files To Sell Shares (GHL)

Money_stack_pic_2Greenhill & Co., Inc. (NYSE: GHL) has filed to sell up to 3.5 million shares of common stock in a secondary offering.  The offering will allow the company and certain stockholders to sell shares from time to time at prices and terms to be determined. 

Read More »

Posted on: November 5, 2008 – 8:24 am in Brokerage Firms, Private Equity, Secondary Offering,

Iridium Comes Public Again Via Greenhill SPAC (GHQ, GHL, GSAT, SKYT)

Iridium_logoGHL Acquisition Corp. (AMEX: GHQ), a SPAC and affiliate of Greenhill & Co. Inc. (NYSE: GHL), is going to be rolling up an interesting operation.  It is acquiring the old global satellite phone company Iridium Holdings LLC.  The company will provide a $500 million cash infusion whichwill allow Iridium to finance its new finance system. It will valueIridium at roughly $591 million depending upon your calculations andthe final closing terms.

Read More »

Posted on: September 23, 2008 – 1:11 pm in IPOs, Satellite, Wireless, , , ,

Top Pre-Market Analyst Upgrades (DBD, FFIV, FSLR, GILD, GHL, WM)

There are surprisingly few analyst calls today, but these are some of the top positive calls and upgrades with more than two hours to the market open:

  • Diebold (DBD) Raised to Buy at Wedbush Morgan.
  • F5 Networks (FFIV) Raised to Overweight at JPMorgan.
  • First Solar (FSLR) Started as Buy at Societe Generale.
  • Gilead Sciences (GILD) Raised to Outperform at Baird.
  • Greenhill & Co. (GHL) Raised to Outperform at Wachovia.
  • Washington Mutual (WM) Raised to Neutral from Sell at Goldman Sachs.

Jon C. Ogg
September 12, 2008

Posted on: September 12, 2008 – 6:28 am in Analyst Calls, , , , , ,

Top 10 Pre-Market Analyst Calls (BBY, CLMS, FDRY, GHL, HUGH, JEF, LM, MCK, MXB, PNRA)

These are ten of the analyst calls we are focusing on this Friday morning:

  • Best Buy (NYSE: BBY) Cut to Hold from Buy at Deutsche Bank.
  • Calamos Asset Management (NASDAQ: CLMS) Cut to Underperform at Credit Suisse.
  • Foundry Networks (NASDAQ: FDRY) Cut to Neutral from Buy at Bank Of America.
  • Greenhill (NYSE: GHL) Cut To Market Perform from Outperform at Wachovia.
  • Hughes Communications (NASDAQ: HUGH) Started as Overweight at Lehman Brothers.
  • Jefferies Group (NYSE: JEF) cut to Market Perform at KBW.
  • Legg Mason (NYSE: LM) Raised to Neutral at Credit Suisse.
  • McKesson (NYSE: MCK) started as Market Outperform at JMP Securities.
  • MSCI Inc. (NYSE: MXB) started as Buy at UBS.
  • Panera Bread (NASDAQ: PNRA) Raised to Buy from Neutral at Piper Jaffray.

Jon C. Ogg
June 6, 2008

Posted on: June 6, 2008 – 6:29 am in Analyst Calls, , , , , , , , , ,

SPAC Warrant Separation: GHL Acquisition Corp. (GHL, GHQ, GHQ-U, GHQ-WS)

GHL Acquisition Corp. (Amex: GHQ-U), a special purpose acquisition company or SPAC, has announced that it has allowed for the separation in trading of its common stock and warrants.  This SPAC will thus no longer be considered exclusively "units" upon the separation.

The SPAC’s initial public offering was February 21, 2008, and holders may elect to trade the common stock and warrants separately commencing on March 20, 2008.  This is an elective event rather than a mandatory event.  Units notseparated will continue to trade on the American Stock Exchange underthe symbol "GHQ.U".

The common stock will trade on the American Stock Exchange under the "GHQ" ticker, and the warrants will trade under the "GHQ.WS" ticker.

We had previously noted that this one was affiliated with Greenhill & Co. (NYSE: GHL).

Jon C. Ogg
March 19, 2008

Posted on: March 19, 2008 – 10:03 am in IPOs, , , ,

SPAC IPO FILING: GHL Acquisition & Greenhill Back Door Play (GHL, GHQ)

GHL Acquisition Corp., a ’special purpose acquisition company’ or "SPAC" (or blank check company) has filed to come public.  This SPAC is actually a larger filing than many, with the initial amount indicated as up to $460 million if you include the overallotment option ($400 million otherwise).  The 40 million units are going to be at the nominal $10.00 per unit, with each unit holding one share of common stock and one warrant with a $7.50 strike price.

Banc of America is the listed underwriter.  A company called Greenhill & Co. (NYSE:GHL) is the founding shareholder and it has purchased 8 million warrants at $1.00 per warrant.  GHL has the proposed AMEX stock ticker of "GHQ" and ultimately its warrants will trade separately.

It is a truly open-ended blank check company, but there is a back-door play here:  Our efforts in identifying a prospective target business will not be limited to a particular industry. Instead, we will focus on industries and target businesses in the United States and Europe that may provide significant opportunity for growth. We do not currently have any specific initial business combination under consideration….. We will seek to capitalize on the significant investing experience and contacts of our Chairman and Chief Executive Officer, Scott L. Bok, our Senior Vice President, Robert H. Niehaus, and our Chief Financial Officer, John D. Liu.  Mr. Bok has over 20 years of experience advising on mergers, acquisitions and restructurings and investing in private equity.  Mr. Niehaus has over 20 years of experience investing in private equity and sourcing, evaluating, structuring and negotiating control or significant minority investments in businesses.  Mr. Liu has 14 years of experience advising on mergers, acquisitions and restructurings.  Each of our executive officers has significant networks of contacts throughout the investment community and with a variety of sources of potential targets, including Greenhill’s managing directors and senior advisors.

So, Greenhill & Co. (NYSE:GHL) is the back door play here into the IPO.  Its shares are up about 3% to $74.56 today, and the 52-week trading range is $47.14 to $77.00.  Greenhill & Co.’s market cap is $1.99 Billion.  We will be reviewing this for our Special Situation Investing Newsletter, where we cover back door plays into IPO’s, spin-offs, break-ups, buyout candidates, reorganizations, and more.

We also preview certain data on these to our own open email distribution list.

Jon C. Ogg
November 30, 2007

Posted on: November 30, 2007 – 10:32 am in IPOs, ,