Posts for Ticker ‘OZM’

Symetra, a Buffett Holding, Plans IPO… Again (SYA, BRK-A, WTM, BEN, OZM)

Buffett ImageAfter the close on Monday came a little-known IPO filing from a life insurance operation called Symetra Financial Corp.  It turns out that the Bellevue, Washington-based insurer has no terms for the sale but listed a sale of up to $575 million in the initial public offering filing.  This is not the first attempt to come public, but it turns out that Warren Buffett’s Berkshire Hathaway Inc. (NYSE: BRK-A) and White Mountains Insurance Group, Ltd. (NYSE: WTM) effectively control the company.
Read More »

Posted on: October 6, 2009 – 11:56 am in Buffett, Editor's Picks, Financial Stocks, IPOs, Private Equity, , , , ,

52-Week High Club

Jabil Circuit (NYSE: JBL) hit a yearly high of $13.47 after beating both guidance and analyst estimates for its quarterly earnings.

Kohl’s Corporation (NYSE: KSS) hit a yearly high of $57.19 after the company announced the opening of 37 new stores.

Och-Ziff Capital Management (NYSE: OZM) hit a yearly high of $12.24 as the company continues to recover from a significant decline in assest under management.

Petrobras Energia Participaciones SA (NYSE: PZE) rallied over 180% to a yearly high of $17.97 after it announced that the company was completing reorganization moves.

TransDigm Group Incorporated (NYSE: TDG) hit a yearly high of $49.94 after announcing that it would offer $425 million of senior subordinated notes in order to fund a special dividend.

Virgin Media Inc. (NASDAQ: VMED) hit a yearly high of 13.97, capping off a monthly gain of 17%.

Yahoo! (NASDAQ: YHOO) hit a yearly  high of $17.80, capping off a monthly gain of nearly 20%.

Garrett W. McIntyre

Posted on: September 30, 2009 – 4:26 pm in Aerospace, Cable Companies, Defense, Dividend, Internet, Media, Oil & Gas, Technology Companies, Telecom, , , , , , ,

Host Of Companies Win In Strong DigitalGlobe IPO (DGI, MS, OZM, ORB, GEOY)

DigitalGlobe ImageDigitalGlobe is set to  open for trading this morning in another highly anticipated initial public offering.  The satellite imagery company will trade on the NYSE with the ticker “DGI.”  The IPO was priced at $19.00 for some 14.7 million shares.  Morgan Stanley (NYSE: MS), Och-Ziff Capital Management (NYSE: OZM), Orbital Sciences Corporation (NYSE: ORB) are among the public companies which are all listed as shareholders of DigitalGlobe.
Read More »

Posted on: May 14, 2009 – 7:23 am in IPOs, Satellite, , , , ,

Top 10 Analyst Upgrades & Downgrades (APC, ATML, CBY, CEO, EXR, N, OXY, OZM, PSA, WFC)

These are ten of the top pre-market analyst calls we have seen early this Tuesday morning with more than two hours until the market opens:
Anadarko Petroleum (APC) Cut to Equal Weight at Barclays.
Atmel (ATML) Raised to Outperform at FBR.
Cadbury Schweppes (CBY) Raised to Neutral at JPMorgan.
CNOOC Ltd (CEO) Cut to Neutral at JPMorgan.
Extra Space Storage (EXR) Cut to Underweight at KeyBanc.
Netsuite (N) Cut to Sell at Piper Jaffray.
Occidental Petroleum (OXY) Raised to Outperform at Barclays.
Och-Ziff Capital (OZM) Raised to Outperform at KBW.
Public Storage (PSA) Cut to Underweight at KeyBanc.
Wells Fargo (WFC) Started as Outperform at Oppenheimer.

JON C. OGG

Posted on: May 5, 2009 – 6:27 am in Analyst Calls, , , , , , , , , ,

Public Companies To Benefit From DigitalGlobe IPO (DGI, MS, OZM, ORB)

money-stack-image57DigitalGlobe, Inc. may be the next high tech initial public offering, and it looks like several public companies will stand to benefit from it.  This is a high-resolution satellite image operation that will trade under the “DGI” ticker on the New York Stock Exchange.  We have a tentative launch indication of mid-May.  Morgan Stanley (NYSE: MS), Och-Ziff Capital Management (NYSE: OZM), Orbital Sciences Corporation (NYSE: ORB) are the public companies which are all listed as shareholders of DigitalGlobe, although these are just a few among the lot of other listed owners and insiders.
Read More »

Posted on: April 30, 2009 – 12:05 pm in IPOs, Satellite, , , ,

Top Pre-Market Analyst Downgrades (AINV, BHI, BAC, WFR, MBT, OZM, SPWRA, STP, VIP, WMT)

Burning_money_picThese are some of the top pre-market analyst downgrades or cautious calls we are seeing from Wall Street this Wednesday morning:

  • Apollo Investment (AINV) Cut to Neutral from Overweight at JPMorgan.
  • Baker Hughes (BHI) Cut to Underweight at from Overweight at Morgan Stanley.
  • Bank of America (BAC) Cut to Neutral at Baird.
  • MEMC Electronics (WFR) Cut to Hold at Citigroup.
  • Mobile TeleSystems (MBT) Cut to Underperform at credit Suisse.
  • Och-Ziff Capital Management Group LLC (OZM) Cut to Market Perform at KBW.
  • Sunpower (SPWRA) Started as Neutral at Merriman Curhan Ford.
  • Suntech Power (STP) Started as Sell at Merriman Curhan Ford.
  • Vimpel Com (VIP) Cut to Neutral from Outperform at Credit Suisse.
  • Wal-Mart (WMT) Cut to Neutral from Outperform at Credit Suisse.

Jon C. Ogg
January 21, 2009

Posted on: January 21, 2009 – 7:40 am in Analyst Calls, , , , , , , , , ,

Downgrading Hedgies, Private Equity & Financials (BX, FIG, GLG, IVZ, JNS, OZM, STD, TROW)

Burning_money_picThere is an interesting trend where Barclays has essentially cut its rankings on hedge fund and private equity operators. Here are the calls, plus a call elsewhere on a bank:

  • Blackstone (NYSE: BX) Cut to Underweight at Barclays.
  • Fortress Investment (NYSE: FIG) Cut to Equal Weight at Barclays.
  • GLG Partners (NYSE: GLG) Cut to Equal Weight at    Barclays.
  • INVESCO (NYSE: IVZ) Started as Equal Weight at Barclays.
  • Janus Capital (NYSE: JNS) Started as Underweight at Barclays.
  • Och-Ziff Capital (NYSE: OZM) Cut to Equal Weight at Barclays.
  • Banco Santander, S.A. (NYSE: STD) Cut to Sell from Neutral at UBS.
  • T. Rowe Price (NASDAQ: TROW) Started as Equal Weight at Barclays.

Jon C. Ogg
January 14, 2009

Posted on: January 14, 2009 – 7:50 am in Analyst Calls, Banking, Financial Stocks, Private Equity, , , , , , , ,

Top 10 Early Analyst Upgrades & Downgrades (FUL, OZM, REP, TOL, DOV, EMR, GA, GSK, MEDX, RDS-A)

Money_stack_picThese are ten of the top pre-market early bird upgrades and downgrades we are seeing from analysts this Friday morning:

  • H.B. Fuller (NYSE: FUL) Raised to Overweight at JPMorgan.
  • Och-Ziff Capital (NYSE: OZM) Started as Buy at Jefferies.
  • Repsol YPF (NYSE: REP) Raised to Buy from Hold at ING; Raised to Hold from Sell at Soc-Gen.
  • Toll Brothers (NYSE: TOL) Started as Outperform at KBW.
  • Dover (NYSE: DOV) Cut to Underweight at JPMorgan.
  • Emerson Electric (NYSE: EMR) Cut to Underweight at JPMorgan.
  • Giant Interactive (NYSE: GA) Cut to Perform at Oppenheimer.
  • GlaxoSmithkline (NYSE: GSK) Cut to Neutral from Buy at UBS.
  • Medarex (NASDAQ: MEDX) Started as Sell at Merriman Curhan Ford.
  • Royal Dutch Shell (NYSE: RDS-A) Cut to Hold from Buy at ING.

Jon C. Ogg
November 14, 2008

Posted on: November 14, 2008 – 7:26 am in Analyst Calls, , , , , , , , , ,

Goldman Sachs Makes Key Financial Calls (BEN, JNS, NYX, NDAQ, MET, FII, NITE, OZM)

Goldman Sachs has issued a call on its asset manager universe, and says it’s time to go on the offensive.  Its rating on the group is now attractive.  The bulge bracket brokerage leader has also made some key calls in the financial sector this morning.

In the call it has raised the following to Buy from Neutral:

  • Franklin Resources, Inc. (NYSE: BEN), Janus Capital Group, Inc. (NYSE: JNS), NYSE Euronext, Inc. (NYSE: NYX), MetLife Inc. (NYSE: MET)

There were actually some downgrades as well, with the following downgraded to Neutral from Buy:

  • Federated Investors, INC. (NYSE: FII), Knight Capital Group, Inc. (NASDAQ: NITE), Och-Ziff Capital Management (NYSE: OZM).

It has maintained a Neutral rating on NASDAQ OMX Group (NASDAQ: NDAQ), although it raised estimates by $0.10 for both 2008 and 2009. 

Jon C. Ogg
April 8, 2008

Posted on: April 8, 2008 – 8:00 am in Analyst Calls, Financial Stocks, , , , , , , ,

Och-Ziff Analyst Quiet Period Ends (OZM)

Hedge find manager Och-Ziff Capital Management Group LLC (NYSE:OZM) has had an interesting post-IPO trading.  It priced at $32.00, but units in the hedge fund manager have traded as  far down as under $22.00 before the $27.81 close on Friday.

It’s interesting that December 24, a day when most traders are out and one of the most quiet trading days of the year, was the broker quiet period end.  Below are the coverage call initiations we have seen this morning:

  • Goldman Sachs initiated with Buy ($35 target);
  • Keefe Bruyette initiated with Outperform ($33 target);
  • Morgan Stanley initiated with Overweight;
  • JP Morgan initiated with Overweight;
  • Citigroup initiated with Hold ($29 target);

There are other calls that will be hit upon today and perhaps on Wednesday.

Jon C. Ogg
December 24, 2007

Join our free email distribution list to get previews for other buyouts, merger-arb, spin-offs, reorganizations, IPO’s, and more.

Posted on: December 24, 2007 – 9:46 am in Analyst Calls, Financial Stocks,

Och-Ziff, Hedge Fund IPO Debuts Today (OZM)

Och-Ziff Capital Management Group LLC (NYSE:OZM) is set to see its IPO trade Wednesday.  The giant hedge fund operator priced 36,000,000 Class-A shares at $32.00 per share, for proceeds of about $1.15 billion.  The expected price range had been $30.00 to $33.00. The hedge fund company granted the underwriters the option to buy up to an additional 5.4 million Class A shares to cover any overallotments.

As previously noted, Och-Ziff is selling another $1.15 Billion in shares to Dubai International Capital LLC, a subsidiary of Dubai Holding LLC, and they will own a 9.9% stake in Och-Ziff after the offering.

Och-Ziff plans to use proceeds from the IPO and from Dubai International to buy interests in the company from its existing owners, which includes members of senior management. Och-Ziff’s existing partners will reinvest all their proceeds into the company’s funds.

Och-Ziff’s underwriting group is massive.  Goldman Sachs and Lehman Bros. are tagged as the lead underwriters, and other key underwriters are Merrill Lynch, Morgan Stanley, Citigroup, Deutsche Bank, and J.P.Morgan.  Co-managers with smaller allocations are listed as Credit Suisse, Keefe Bruyette & Woods, Bear Stearns, Macquarie, Nomura, BOC International, Ramirez & co., and Utendahl Capital Partners.  While some of the key European investment banks are not listed in here, it looks like the hedge fund operator is giving an allocation to every investment banker in its rolodex.

More detailed information on this and other IPO’s is previewed on our open email distribution list, and there we often cover spin-offs, break-ups, reorganizations, and more.

Jon C. Ogg
November 14, 2007

Jon Ogg produces the more detailed 24/7 Wall St. subscriber-based Special Situation Investing Newsletter; he does not own securities in the companies he covers.

Posted on: November 14, 2007 – 9:29 am in Financial Stocks, IPOs, ,

Och-Ziff IPO Terms & Dubai Investment (OZM)

Och-Ziff is one step closer to coming public, and this is set to trade under the ticker "OZM" on the New York Stock Exchange.  The hedge fund family is indicated to sell 36 million class A shares priced in a range of $30 to $33 per share.  The company has also agreed to sell a stake to Dubai International Capital LLC, pursuant to which it will sell 38,138,571 Class A shares so it will beneficially own 9.9% of the outstanding Class A shares on the closing date of this offering.

Interestingly enough, Och-Ziff’s underwriting group is massive.  Goldman Sachs and Lehman Bros. are tagged as the lead underwriters, and other key underwriters are Merrill Lynch, Morgan Stanley, Citigroup, Deutsche Bank, and J.P.Morgan.  Co-managers with smaller allocations are listed as Credit Suisse, Keefe Bruyette & Woods, Bear Stearns, Macquarie, Nomura, BOC International, Ramirez & co., and Utendahl Capital Partners.  While some of the key European investment banks are not listed in here, it looks like the hedge fund operator is giving an allocation to every investment banker in its rolodex.

As of September 30, 2007, Och-Ziff managed approximately $30.1 Billion in assets from over 700 fund investors.  More detailed information on this and other IPO’s and spin-offs goes out to our public distribution list several times per week.

Jon C. Ogg
November 12, 2007

Posted on: November 12, 2007 – 10:35 am in Financial Stocks, IPOs, , ,