Corporate Bankruptcies Likey To Take Sharp Jump (CHTR)(MNI)(JRC)(LVLT)
It should come as no surprise that companies which has taken on too much debt over the last three years will start to fail and have to file for Chapter 11. Some of the…
All Work
Douglas A. McIntyre
Venezuela Say Exxon (XOM) Asset Seizure Based On Fantasy
PDVSA, the state-owned oil company of crack-pot Hugo Chavez’s Venezuelan government, claims that Exxon’s (NYSE:XOM) seizer of $12 billion in assets is based on "fantasy". Lawyers for PDVSA said that the claim "that PDVSA…
Ambac (ABK) Keeps Aaa Rating, Cuts Dividend
Ambac (NYSE: ABK) was able to keep its Moody’s Aaa rating, In the process it had to cut its dividend from $.07 to .01. The bond insurance company said it would also suspend all…
Black Day For Boeing (BA)
Boeing (NYSE: BA) and its stockholders were counting on getting the US military contract to build new refueling tankers. The deal is worth $40 billion, and Boeing is the incumbent. Things didn’t work out.…
The 52-Week Low Club (FMT)(RHD)(S)(JRC)(LLNW)(IACI)
Fremont General (FMT) Threatens more write-downs. Falls to $.73 from 52-week high of $13.80. R H Donnelley (RHD) Downgrades after poor earnings. Hits bottom of $6.26 from 52-week high of $84.49. MF Global (MF)…
Applera & Celera Separation, For Real This Time (ABI, CRA)
Applera Corporation had an SEC Filing today saying its Board of Directors has authorized management to pursue a possible separation of the Celera Group (NYSE:CRA) from Applera. The completion of this proposal is subject…
Sirius & XM Extend Merger Dates (SIRI, XMSR)
Sirius Satellite Radio (NASDAQ: SIRI) and XM Satellite Radio (NASDAQ: XMSR) hav extended their merger agreement to May 1, 2008. As a reminder, Jim Cramer recently called out all the congressmen that he felt…
Federated Vulturing Into Mortgages Via IPO (FII, PNT)
Point Asset Management, Inc. has filed to sell up to $250 million in an initial public offering and it will trade on the New York Stock Exchange under the symbol “PNT.” Deutsche Bank is…
comScore Clarifies Its Google Click Comments (GOOG)
Google (NASDAQ: GOOG) is seeing a stock recovery after comScore (NASDAQ: SCOR) put out a clarification on its blog today. We received an email from comScore a short while ago confirming that link. Here…
Moody’s Signals It Should Cut Ambac, But Isn’t Cutting It (ABK)
Moody’s is affirming the current ratings and capital ratios at Ambac Financial Group, Inc. (NYSE: ABK), although there is not a downgrade being issued. Moody’s has noted that Ambac’s capital is currently under its…
International Brands Management SPAC IPO Changes Terms (IBL.U, IBL)
International Brands Management Group, a SPAC, or special purpose acquisition company, has amended its IPO again. It is set to trade under the ticker "IBL.U" on the American Stock Exchange. The company now plans…
SPAC IPO Competition To Heat Up: AMEX vs. NASDAQ (NDAQ, NYX)
It looks like the American Stock Exchange, and ultimately the New York Stock Exchange (NYSE: NYX) after the two merge, is going to get some competition for all of the IPO’s in Special Purpose…
Goldman Sachs Bets Against Risky Financials (WM, MER, LEH, WB, NCC, FRE, FNM)
This morning we have another negative note out of Goldman Sachs calling for investors to be long volatility in financial stocks where the options prices are reasonable in companies that have exposure to troublesome…
Assured Guaranty Scores One From Wilbur Ross (AGO, MBI, ABK)
Assured Guaranty Ltd. (NYSE: AGO) may not be the largest household name for a bond insurer or financial guarantor when you consider the woes of Ambac Financial (NYSE: ABK) and MBIA (NYSE: MBI). But…
The CarMax Hurdle (KMX, BRK.A)
This morning, Business Week in its "INSIDE WALL STREET" section has featured CarMax (NYSE: KMX) positively, mainly noting that Warren Buffett’s Berkshire Hathaway (NYSE: BRK/A) raised his stake by another half recently to 9.6%. …
Top 10 Pre-Market Analyst Calls (AIG, TRAK, DECK, ETR, ITLN, MF, PFE, QSFT, REP, RHD)
These are not the only analyst calls affecting shares of stock this morning, but these are the initial calls that 247WallSt.com is focusing on: AIG (NYSE: AIG) cut to Market Perform at KBW. DealerTrack…
Founder’s Day: Dell, Yahoo!, Starbucks
A big company gets in trouble. The board throws the CEO under a bus and brings back the founder. The stock market figures that the person who built the company is the ideal one…
Big Lawsuits Finally Hit The Private Equity World
It is surprising that it took so long. A private equity firm is finally suing a bank that walked on a big transaction. It is only the beginning. Wachovia (WB) skipped out on its…
Oil At $103: OPEC On Cloud Nine
Oil moved over $103. The excuse this time was that "Ecuador’s state-run oil company, Petroecuador, suspended operations at a key export pipeline after a landslide damaged infrastructure," according to MarketWatch. That has nothing to…
Sony’s (SNE) Playstation Pipe Dream
Sony’s (NYSE: SNE) PS3 may have a better year in 2008 than it did in 2007. That would not be hard. The game console was beaten like a red-headed mule by the Nintendo Wii…