Home Depot Supply Deal Falling Apart
The FT writes that Merrill Lynch, Lehman Brothers and JPMorgan are not happy about funding a deal to buy Home Depots (HD) wholesale supply business to private equity interests. Even though the price has…
All Work
Douglas A. McIntyre
Media Digest 8/23/2007 Reuters, WSJ, NYTimes, FT, Barron’s
According to Reuters, a group of California gas stations filed suit against Chevron (CVX), Saudi Aramco, and Royal Dutch Shell for price fixing. Reuters writes that Canon (CAJ) is spending another $862 million on…
Asia Markets 8/23/2007
Markets in Asia were up sharply. The Nikkei rose 2.6% to 16,316. Canon (CAJ) was up 5.9% to 6260. Sony (SNE) was up 2.8% to 5440. Toyota (TM) was up 2% to 6080. The…
Countrywide Financial: Bank of America’s Deal Of The Century
It is too good to be true. Bank of America (BAC) put $ 2 billion into Countrywide Financial (CFC) by taking convertible preferred with an $18 a share strike price and a 7.25% coupon.…
JDSU: Still No Future
JDSU, which makes communications test and measurement solutions and optical products for the telecom and cable businesses, turned in another lackluster quarter. These are supposed to be the days of broadband expansion and fiber-for-everyone…
Samsung Should Passe Motorola In Handset Sales
It is a matter of time before Motorola (MOT) loses its position as the No.2 handset maker behind Nokia (NOK). And ’tis Samsung that will do MOT in. According to new Gartner figures Samsung…
The 52-Week Low Club
Tween Brands (TWB) Specialty retailer has bad quarter and weak guidance. Drops to $27.35 from 52-week high of $49.00. Superior Offshore (DEEP) Senior management enter into stock sales plans. Down to $10.30 from 52-week…
Cramer Talks Mortgage Lenders Closing Shop (LEH, WFC, WB, BAC)
On today’s STOP TRADING on CNBC, Jim Cramer said that the Lehman (NYSE:LEH) exit from the mortgage business is a positive because this wasn’t making money. He’d be a buyer on that news. Wells…
GM Cuts Truck Production Due To High Inventory
GM (GM) has cut production at six US plants due to high inventory of pick-ups and SUVs. Sales of the GMC Sierra fell 28% last month. The Wall Street Journal wrote that GM "had…
The VMware Conundrum (VMW, EMC, CTXS, MSFT)
VMware, Inc. (NYSE:VMW) has been an unbelievably strong IPO after the partial spin-off from EMC Corp. (NYSE:EMC). Shares opened for trade last Tuesday and are up about 40% from the initial open. Some were…
Report: Head Of AMD Sales Resigns
Hexus, the technology news site, is reporting that Henri Richard, the AMD executive vice president and chief sales and marketing officer has resigned. 24/7 was unable to get an answer on the matter from…
New York Times Short Interest High, Faith In Online Plan May Be Fraying
Shares sold short in The New York Times Company (NYT) were just below 16 million against daily trading volume in the company’s "A" share of 1.158 million. That means that the number of trading…
IPO FILING: Adnexus Therapeutics, Targeting Avastin (ADNX, BMY)
ADNEXUS THERAPEUTICS, INC. has filed to come public via an IPO with the filed amount to sell up to $86,250,000 in common stock. Adnexus has taken the proposed ADNX ticker on NASDAQ. Lehman and…
Home Depot And Lowe’s Pick Up Larger Short Interest
The August short interest numbers show that Home Depot (HD) and Lowe’s (LOW) had spikes in shares sold short. At HD that number hit 61.8 million, up 20.8 million. At LOW the figure rose…
No Enthusiasm For TD Ameritrade Deal With E*Trade
Investors would suppose that TD Ameritrade (AMTD) and E*Trade (ETFC) shares would be on fire today after The Wall Street Journal broke the story that the companies were in merger talks. But, with the…
Analyzing YouTube’s Revenue Potential
From Silicon Alley Insider So, Google’s (GOOG) YouTube will finally sell video ads. How much revenue will they generate? Most likely, not enough to materially affect Google’s overall revenue for at least a year…
Detroit On The Amazon
China used to be the next big thing for the Big Three. Now it is South America. GM (GM) is saying that it can grow it Latin America and African revenue by several billion…
Europe Market Report 8/22/2007
Market in Europe were up at 7 AM New York time. The FTSE rose 1.1% to 6,151. BT (BT) was down 3% to 302.75. Invesco was up 4.3% to 607. Vodafone (VOD) was down…
TD Ameritrade And E*Trade: Another Deal For The Government To Block
Word from The Wall Street Journal is that discount broker giants TD Ameritrade (ATMD) and E*Trade (ETFC) are working on a merger that would create a company with 11 million accounts. According to the…
Verizon Stiffs Vodafone
Vodafone (VOD) had some shareholders who wanted the company to sell part of its stake in Verizon Wireless back to majority owner Verizon (VZ). VOD management made the argument that the wireless operation was…