This morning I read a few quotes from a popular analyst, Richard Bove, outlining his reasons for keeping a “buy” rating on Lehman Brothers.
Last Thursday, Bove asserted that conditions are ripe for a hostile takeover bid and shares of Lehman have risen over 15 percent since then.
The stock has been hammered this year, losing over 75 percent […]
Tiffany & Co. surprised the markets today with news of a sparkling second quarter. The jeweler boasted an 11 rise in sales and the near doubling of profits.
Tiffany acknowledged that domestic sales are sluggish but expects a rebound in the fourth quarter. International sales remained strong in Europe and parts of Asia.
Although analysts concur Tiffany’s pricey […]
Yesterday was another roller coaster ride for Freddie Mac shareholders.
Shares of the troubled GSE traded up 68 cents in regular trading yesterday (and added another 50 cents this morning). For today’s Freddie Mac, 68 cents is massive, representing an increase of over 20 percent in one day.
One month ago, 68 cents may have turned a few heads but […]
Just yesterday I wrote about the bond insurers getting a Monday morning boost.
But today, Standard & Poor downgraded both Radian and the PMI Group. Today’s credit rating cuts erased yesterday’s gains swiftly. Shares of Radian dropped 6.9 percent and PMI lost 7.9 percent.
I suspected the boost would be short lived, but not this short!
Tags: bond insurers, downgrade, pmi, radian, […]
Last night, Coach (one of my favorite handbag designers!) announced plans to buyback up to $1 billion worth of its outstanding shares.
The buyback will be completed by June 2010, in fact the company just completed a billion dollar buyback (started in winter 2007). Prior to news of the latest buyback being released, the stock was down almost […]
Monday morning has been kind to the bond insurers.
PMI Group (PMI) traded up over 15 percent and Radian Group (RDN) traded up 8 percent. Ambac (ABK) picked up close to 8 percent and MBIA, Inc. (MBI) rose close to 5 percent.
All four stocks have surrendered some of the morning’s gains and historically, Mondays are particularly unkind to the markets. Just before noon the Dow had […]
I must take a break from stocks (just for today) to talk about the state I live and work in.
In the wee hours of Saturday morning, Barack Obama announced the selection of Senator Joe Biden as his Vice Presidential running mate. These are indeed exciting times in the First State!
Flags were flying high as crowds chanted “Mo Joe” outside […]
King Pharmaceuticals sought a friendly merger with Alpharma, Inc. and this morning, submitted a $1.4 billion bid for their specialty drug making counterpart.
King submitted an initial offer on August 4th which was obviously rejected. Today’s offer was almost a 50 percent increase from the previously rejected bid and a 37 percent premium over Alpharma’s closing price […]
The multifaceted Internet company run by media mogul Barry Diller, officially split into five distinct parts: Home Shopping Network, Interval Leisure Group, Tree.com (formerly Lending Tree), Ticketmaster and InterActiveCorp.
The first four newly independent companies began trading today under new tickers, while IAC will resume trading with its original ticker “IACI” in about three weeks.
It was time for a change at IAC, […]
Burger King had a whopper of a quarter!
The fast food giant posted a 42 percent increase in profits for the fourth quarter, which ended on June 30. Same store sales were up 5.3 percent worldwide, right behind McDonald’s which posted a same store sales increase of 6.1 percent.
BK has made some major adjustments in the […]
Where talk is money.
Written by Tisa Silver [email] for b5media.
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