Posts for Ticker ‘WM’

Bill Gates Gets Further Entrenched in Waste Sector (RSG, WM, MSFT, BRK-A)

Bill Gates ImageIf you thought that Bill Gates might have an ambition beyond just passive investing in the garbage and waste disposal sector, you might be correct.  Bill Gates’ Cascade Investment, L.L.C. and the Bill & Melinda Gates Foundation Trust own a collective share of about 15% of Republic Services, Inc. (NYSE: RSG).  Republic is the #2 waste management player now that it acquired Allied Waste Industries behind the dominant Waste Management Inc. (NYSE: WM).

Today came the news that Gates’ confidant Michael Larson has joined Republic’s Board of Directors effective October 28, 2009, and Larson will also become a member of Republic’s Compensation Committee and its Nominating and Corporate Governance Committee.  Larson is the Business Manager of Cascade Investment and is the Chief Investment Officer for the Bill & Melinda Gates Foundation Trust.  In short, Bill Gates (or his investment funds) is not just going to be a mere large investor in the garbage sector.  That is an entrenchment into a company, and there seems to be a reason for it.
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Posted on: October 30, 2009 – 11:40 am in Activist Investor, Buffett, Business Services, Private Equity, Utilities, , , ,

Early Bird Analyst Downgrades (AAPL, RATE, COP, INFN, MOT, SMOD, TSCM, THO, WM, WGO)

These are not all of the analyst downgrades this Monday morning, but these are some of the standout calls we have seen affecting shares early with more than two hours to the open:

  • Apple (AAPL) Cut to Equal Weight at Morgan Stanley.
  • Bankrate (RATE) Cut to Neutral at Merriman Curhan Ford.
  • ConocoPhillips (COP) Cut To Neutral at Goldman Sachs.
  • Infinera (INFN) Cut To Sell at Goldman Sachs.
  • Motorola (MOT) Cut to Hold at Citigroup.
  • Smart Modular Tech (SMOD) Cut to Hold at Deutsche Bank.
  • TheStreet.com (TSCM) Cut to Neutral at Merriman Curhan Ford.
  • Thor Industries (THO) Cut to Underperform at Baird.
  • Washington Mutual (WM) Cut to Underperform at KBW.
  • Winnebago Industries (WGO) Cut to Underperform at Baird.

Jon C. Ogg
September 29, 2008

Posted on: September 29, 2008 – 6:06 am in Analyst Calls, , , , , , , , , ,

The 52-Week 9/26/2008 (MRVL)(RIMM)(WM)(JAVA)(SFD)(NCC)

Sad_clownWashington Mutual (WM) Shut down by feds. Drops to $.148 from 52-week high of $26.47.

Smithfield Foods (SFD) Credit concerns. Sells down to $13.95 from 52-week high of $32.26.

Sun (JAVA) Company shares continue to drift off on growth worries. Falls to $7.52 from 52-week high of $25.04.

Research in Motion (RIMM) Misses Wall St. forecast numbers. Plunges to $69.50 from 52-week high of $148.13.

NCC (NCC) Picks up worries from Washington Mutual collapse. Down to $2 from 52-week high of $27.21.

Marvell Tech (MRVL) Key supplier to RIMM. Drops to $9.57 from 52-week high of $18.84.

Posted on: September 26, 2008 – 2:40 pm in HI/LOW, , , , , ,

Sick Twist of Fate, Citigroup’s Model Was Right (C, JPM, WM, GS, MS, WB, BAC, MER)

Citigroup_logo_2There is one interesting irony in this whole financial meltdown which goes which many will not want to admit.  Citigroup Inc. (NYSE:C) and the financial supermarket model may actually be emulated by the entire banking and brokerage sector.  Citi’s performance and execution have not been successful, but if you look at what is happening in the banking and brokerage sectors right now it is almost impossible not to see the parallel.

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Posted on: September 26, 2008 – 8:49 am in Banking, Brokerage Firms, Financial Stocks, , , , , , , ,

Fed Loans $188 Billion A Day: Who Needs Bailout?

FedThe Fed has been loaning banks and money managers an average of $188 billion a day over the last week. That is four times what the sum averaged a week earlier.

Absent a bailout from Treasury, Fed Chairman Ben Bernanke has held the line against the fallout from the credit crisis and it appears that the banking system is the better for it. At the very least, the complex tapestry of the US financial markets has not been torn into pieces.

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Posted on: September 26, 2008 – 4:41 am in Economy, ,

Why Washington Mutual (WM) Does Not Matter

WamuWashington Mutual (WM) failed yesterday and most of its assets where sold to JP Morgan (JPM). The price was $1.8 billion. JPM will have to write down $31 billion in bad loans, but, since Jamie Dimon is now the king of the banking world, he should be able to raise the capital to cover that. In the meantime, he has picked up $307 billion in assets.

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Posted on: September 26, 2008 – 4:16 am in Banking, , ,

Media Digest 9/26/2008 Reuters, WSJ, NYTimes, FT, Bloomberg

NewspaperAccording to Reuters, talks over a US bailout of banks broke down and will begin again today.

Reuters reports that Washington Mutual (WM) became the largest bank failure in US history. Many of its assets were sold to JP Morgan (JPM).

Reuters reports that RIM (RIMM) fell as it posted a weak forecast.

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Posted on: September 26, 2008 – 2:49 am in Press Digest, , , , , , , , , , , , , ,

Media Digest 9/25/2008 Reuters, WSJ, NYTimes, FT, Bloomberg

NewspaperAccording to Reuters, Bush called an emergency meeting of Congressional leaders to push through bank bailout legislation.

Reuters reports that Goldman Sachs (GS) and Morgan Stanley (MS) are preparing to take advantage of their new status as bank holding companies by raising billions of dollars.

Reuters says that Paulson gave ground on the idea that CEO pay must be restricted at banks which benefit from the bailout.

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Posted on: September 25, 2008 – 2:49 am in Press Digest, , , , , , , , , , , ,

Media Digest 9/23/2008 Reuters, WSJ, NYTimes, FT, Bloomberg

NewspaperAccording to Reuters, Wilbur Ross say the bailout package does not address the core of problem which is mortgage payments.

Reuters writes that the National Retail Federation says that this will be the worst holiday season in at least six years.

Reuters reports that the head of Caterpillar (CAT) says that the financial crisis has not hurt the company’s financial arm.

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Posted on: September 23, 2008 – 2:51 am in Press Digest, , , , , , , , , , , , , , , , , , , ,

Media Digest 9/22/2008 Reuters, WSJ, NYTimes, FT, Bloomberg

NewspaperAccording to Reuters, Goldman Sachs (GS) and Morgan Stanley (MS) will give up their investment banking status and become bank holding companies to have access to the government’s proposed $700 billion bailout fund.

Reuters reports that Nomura reached a deal to buy Lehman’s (LEH) Asia assets.

Reuters says that tax-exempt funds will have access to the Treasury’s new rescue facility.

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Posted on: September 22, 2008 – 3:00 am in Banking, , , , , , , ,

Financial Stocks Set To Rocket (AIG)(WM)(GS)(MS)

Cammonopoly_wideweb__430x3250_2Shares of major financial firms from Goldman Sachs (GS) to Morgan Stanley (MS) are up 25% to 35% in the pre-market.

Washington Mutual’s (WM) stock is up more than 40% and AIG’s (AIG) soared more than 30%.

Douglas A. McIntyre

Posted on: September 19, 2008 – 6:59 am in Financial Stocks, , , ,

Citigroup (C): Vikram Pandit’s Year Of Living Dangerously

Data Vikram Pandit’s job was to cut Citigroup (C) down to size. "Reverse the insanity of the empire builders who came before you", his investors said. Dump the damaged assets and maintain the solid core.

Pandit’s role was to be the King Arthur of a much smaller Round Table. Some knights would be dispatched, but it was all in the name of the common good.

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Posted on: September 19, 2008 – 4:29 am in Banking, ,

Media Digest 9/18/2008 Reuters, WSJ, NYTimes, FT, Bloomberg

NewspaperAccording to Reuters, Morgan Stanley (MS) is in merger talks with several firms.

Reuters says HSBC (HBC) may be a possible buyer for Morgan Stanley.

Reuters reports that Washington Mutual (WM) is being auctioned off.

Reuters reports that the Fed is not likely to change rates this year.

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Posted on: September 18, 2008 – 2:54 am in Press Digest, , , , , , , , ,

Washington Mutual (WM) Being Auctioned?

Wamu_3The latest rumor on Wall St. is that Washington Mutual (WM) will be auctioned off and has retained Goldman Sachs (GS) to handle the deal. According to The New York Times, Wells Fargo (WFC), JP Morgan (JPM), and HSBC (HBC) are possible bidders.

Douglas A. McIntyre

Posted on: September 17, 2008 – 3:38 pm in Financial Stocks, , , ,

Bank Regulators Try To Auction Washington Mutual (WM)?

Wamu

Bank regulators may be trying to find a home for Washington Mutual (WM). According to The New York Post, "The fate of Washington Mutual remained in question yesterday as federal regulators recently called a number of banks asking if they would consider buying the nation’s largest savings and loan should it eventually falter."

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Posted on: September 17, 2008 – 6:26 am in Banking,

The 52-Week Low Club 9/16/2008 (AIG)(WM)(MER)(CEG)(GHS)

Sad_clownConstellation Energy Group (CEG) falls on fears of link to the Lehman bankruptcy. The company says no. The shares plunges to $13 from 52-week high of $107.97.

Gatehouse (GHS) shows why it’s a bad time to be a newspaper company. It slips to $.40 from 52-week high of $13.50.

Washington Mutual (WM) sells down and then recovers. It hits $1.50, down from 52-week low of $39.25.

Merrill Lynch (MER) also starts down and springs up. The stock sells off to $16.25 from 52-week high of $78.66.

AIG (AIG) is another stock which drops and recovers. Shares are down to $1.25 from 52-week high of $70.13.

Douglas A. McIntyre

Posted on: September 16, 2008 – 2:57 pm in HI/LOW, , , , ,

Media Digest 9/16/2008 Reuters, WSJ, NYTimes, FT, Bloomberg

NewspaperAccording to Reuters, the markets will now turn their attention to AIG (AIG) which is struggling to survive.

Reuters report that the Fed will probably hold interest rates steady and signal a cut for later in the year.

Reuters reports that AIG got help from New York state that allowed it to transfer some money from its operating divisions to the parent.

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Posted on: September 16, 2008 – 2:42 am in Press Digest, , , , , , , , , , , , , , ,

A Relentless Day For Bad News: Hewlett-Packard (HPQ) To Cut 25,000

PcAfter a savage day in which one Wall St. firm closed and another was sold, perhaps there might have been an evening’s respite.

Lehman (LEH) has more than 25,000 employees, 20,000 of which could be out of work. Merrill Lynch (MER) has a staff of more than 60,000. A significant number of them will be pushed aside as the company merges with Bank of America (BAC).

The axe also fell today on many of the poor souls who work at Hewlett-Packard (HPQ) and EDS, which H-P recently bought.

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Posted on: September 15, 2008 – 4:47 pm in PC Companies, , , , , ,

Market Wipes Out Merrill Lynch (MER) Buyout Gains, Tomorrow Looks Worse

Merrill_2At one point Merrill Lynch (MER) was up to $22.68 because of Bank of America’s (BAC) buyout offer of $50 billion. Merrill closed at $17.05 on Friday.

Wall St. is now so afraid for the future of even the largest banks and brokerage houses that Merrill closed up only 4% at $17.76. Bank of America, after riding to Merrill’s rescue, closed down more than 21% to $26.55, giving up $24 billion in market cap.

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Posted on: September 15, 2008 – 3:10 pm in Mergers and Buy Outs, , , ,

Major Financials Crushing Their Own Stocks (MER, BAC, LEH, AIG, C, WM, MS, GS)

Covering financial stocks this morning looks a bit like an assassination happening live on television.  Futures are being pulled sharply lower by the financial stocks melting down.  We are going to skip the individual news explanations as much of the trend now really boils down to just where these are opening up and trading at with the reduced financial models on Wall Street.  S&P Futures are down over 44 points on last look.  As you will see below, every major financial stock except one is gapping down:

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Posted on: September 15, 2008 – 8:05 am in Banking, Brokerage Firms, Financial Stocks, , , , , , , ,