Verizon Communications Inc. (NYSE: VZ) has announced a definitive merger agreement with Hughes Telematics Inc. (OTC: HUTC). The all-cash offer totals $612 million, or $12/share. Hughes closed at $4.35 last night, calculating out to…
As of the end of 2011, Las Vegas Sands Corp. (NYSE: LVS) had spent $101.5 million on developing a project in Macau for which it did not have the required land rights. The government…
In a brief press release this morning, BP plc (NYSE: BP) has said that the company has “received unsolicited indications of interest regarding the potential acquisition of its shareholding in TNK-BP.” TNK-BP is a…
The three major US stock indexes opened lower this morning as investors were disappointed at the downward revision to first-quarter US GDP growth from 2.2% to 1.9%. A better-than-expected showing by US retailers in…
Yesterday Visa Inc. (NYSE: V) filed a report with the US Securities and Exchange Commission indicating that the company’s total US payments volume fell by -3% and that US debit card payment volume fell…
In what is probably just a sign of how badly managed the company has been, The Talbots Inc. (NYSE: TLB) agreed today to a $2.75/share buyout by private equity group Sycamore Partners. Talbots turned…
In February, Facebook Inc. (NASDAQ: FB) was the leading brand in the social networking category of a customer loyalty index compiled by research firm Brand Keys. Following the company’s recent IPO, Facebook now resides…
Lithium-ion battery maker A123 Systems Inc. (NASDAQ: AONE) has notified the US Securities and Exchange Commission that “there is substantial doubt on the Company’s ability to continue as a going concern.” A123 was hit…
The US Energy Information Administration (EIA) released its weekly petroleum status report this morning. US commercial crude inventories increased by 2.2 million barrels last week, bringing the total US commercial crude inventory to 384.7…
The US Department of Commerce and its International Trade Administration have imposed countervailing duties on imports of utility scale wind towers manufactured in China. The tariffs range from 13.74% to 26%, depending on the…
The US Energy Information Administration today reported the US natural gas stocks rose by a total of 71 billion cubic feet, in line with the 70 billion cubic feet increase that analysts had expected.…
Retailers are reporting May same-store sales today and it looks like the predictions for modest growth are being realized. Research firm Retail Metrics Inc. forecast that same-store sales would grow by just 1.8%, although…
Sales of homes in some stage of foreclosure accounted for 26% of all US home sales in the first quarter of 2012. That compares to 22% of sales in the fourth quarter of 2011…
WTI crude hit a high for the year of just over $110/barrel in February. WTI closed at just under $88/barrel last night. The price for Brent crude has fallen from near $127/barrel to around…
The three major US stock indexes opened lower this morning as investors did not pay attention to a report that the eurozone would allow its bailout fund to be used to recapitalize the continent’s…
At the company’s shareholders meeting today, the CEO of Exxon Mobil Corp. (NYSE: XOM) said that Exxon is studying the possibility of exporting natural gas from the US Gulf Coast and Canada. Natural gas…
Subscribers to the broadband cable services of Comcast Corp. (NASDAQ: CMCSA) will soon be able to get access to the Disney Channel from Walt Disney Co. (NYSE: DIS) on Internet-connected mobile devices like smartphones…
US coal stocks are getting pummeled again today, with James River Coal Co. (NASDAQ: JRCC) and Patriot Coal Corp. (NYSE: PCX) leading the downturn. Downgrades to Patriot Coal from UBS and CRT Capital Group…
The National Association of Retailers (NAR) reported this morning that its pending home sales index for April fell to 95.5 from a revised reading of 101.1 in March, the first decline following 3 consecutive…
The S&P Retail Index is down -2% in the late morning today, considerably below the overall DJIA decline of -1.2%, and it’s not entirely clear what’s causing the drop. Sears Holdings Corp. (NASDAQ: SHLD)…