According to Reuters, the US Treasury may buy interests in large banks following the model set up by the UK.
Reuters reports that IBM’s (IBM) earnings strength helped calm tech investors.
Reuters reports that MetLife (MET) and The Hartford (HIG) may be in merger talks.
Longs Drug Stores Corporation (NYSE: LDG) is doing something which may seem odd to many, which is essentially a "going with the bird in the hand" strategy. The company has just announced that its board of directors has determined not to have buyout discussions with Walgreens (NYSE: WAG). This was after consultation with its legal and financial advisors. Walgreens had sent Longs an expression of interest that was announced on September 12.
Longs Drug Stores Corporation (NYSE: LDG) is trading way up this morning after last night’s announcement that CVS Caremark Corporation (NYSE: CVS) will acquire the company. In a definitive agreement reached, Longs will receive $71.50 per share in cash in the buyout. After the assumption of debt and items, this buyout is valued at roughly $2.9 Billion.
Analyst coverage is looking pretty thin on individual calls this morning, but here are ten of the analyst calls we are looking at this Thursday morning:
Jon C. Ogg
May 15, 2008
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