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Published July 20, 2009 at 5:30 PM
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Welcome to Deal Stocks, where we focus on a handful of select public
companies involved in activity across the deal spectrum -- including
M&A, private equity, IPOs, bankruptcies and corporate
restructurings. Additionally, we've included a number of indicators --
LIBOR, TED, VISX and T-bond rates -- as part of our dashboard that
influence lending between companies. These
are the transactions that define The Deal and are likely contributors
to a stock's gains or losses. Join in the conversation on Twitter
@dealst
CIT Group Inc. (NYSE:CIT) has received $3 billion in financing from its bondholders, according to sources close to the deal, Reuters reports. The reported capital infusion helped CIT avoid bankruptcy and buy it time, but the money doesn't solve the lender's nearly $10 billion in debt. CIT finished up 55 cents, or 78.57%, to $1.58. Meanwhile on the deal front:
- Nortel Networks Corp. (OTC:NRTLQ), which is currently reorganizing in bankruptcy, sold its business that makes phone systems for offices to privately held Avaya Inc. for $475 million.
- Shares of enterprise software company SAP AG (NYSE:SAP) finished up 45 cents, or 1.05%, to $43.32 following its $90 million bid for SAF Simulation, Analysis and Forecasting AG, a maker of
forecasting and planning software for the retail and wholesale
industries.
- Meanwhile, Morgan Stanley (NYSE:MS) is acquiring a minority stake in DiMaio Ahmad
Capital LLC, the hedge fund Jack DiMaio founded and split from Credit
Suisse Group in 2005. The move coincides with the hiring of DiMaio as global head of interest rate, credit and currency trading at Morgan. The New York bank will report earnings on Wednesday. Morgan closed up 33 cents, or 1.18%, to $28.32.
Other notable earnings:
- Regional banks are set to start releasing second-quarter earnings with M&T Bank Corp. (NYSE:MTB) starting things off Monday. Credit losses and write-downs led to a 75% decline in the mid-Atlantic bank's profits. M&A closed up 2.67%, or 4.90%, to $57.11.
- Yahoo Inc.'s (NASDAQ:YHOO) earnings announcement after market close Tuesday could be coupled with a huge announcement involving Microsoft Corp. (NASDAQ:MSFT), as multiple media outlets say that the two are ironing out the final details of a search and online advertising deal. Yahoo! closed up 17 cents, or 1.01%, to $17.01.
- Oilfield services company Halliburton Co. (NYSE:HAL) also saw its second-quarter profits tumble 48%. Haliburton finished up 95 cents, or 4.44%, to $22.33.
Tuesday earnings: - The market will be looking to dealmaker BlackRock Inc. (NYSE:BLK), which reports second-quarter earnings prior to Tuesday market open.
- Starbucks Corp. (NASDAQ:SBUX) will be under the microscope as it will report earnings after market close. The company has been undergoing major restructuring over the last year -- laying off employees, closing stores and expanding its menus and offerings.
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CRISIS DASHBOARD |
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Figures are calculated
according to the latest stock data available at approximately 4:00 pm
ET |
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July 20, 2009 |
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Benchmark |
Spread |
Change from previous day |
1 week ago |
1 month ago |
1 year ago |
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LIBOR 1-MONTH |
0.29 |
-0.003 |
0.29 |
0.32 |
2.46 |
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LIBOR 3-MONTH |
0.50 |
+0.001 |
0.51 |
0.61 |
2.79 |
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TED |
0.33 |
-0.002 |
0.33 |
0.43 |
1.02 |
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Exchange |
Average |
Change from previous day |
1 week ago |
1 month ago |
1 year ago |
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VIX |
24.43 |
+0.09 (+0.37%) |
26.31 |
27.99 |
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T-bond |
Current Price/Yield |
Price/Yield change |
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3-Year |
99-28+ / 1.53 |
0-02+ / -.027
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5-Year |
100-25+ / 2.45 |
0-07 / -.047 |
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10-Year |
96-01.5 / 3.61 |
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