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Published October 23, 2009 at 4:32 PM
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 Welcome to Deal Stocks. In the news Friday are CIT Group Inc. (NYSE:CIT), Goldman Sachs Group Inc. (NYSE:GS), Merck & Co. (NYSE:MRK), Schering-Plough Corp. (NYSE:SGP), Tellabs Inc. (NASDAQ:TLAB), WiChorus Inc., American International Group Inc. (NYSE:AIG) and J.P. Morgan Chase & Co. (NYSE:JPM). For more hot stocks, check out the arbitrage charts in The Deal Pipeline (subscription required) or stocktwits.
Stocks sagged, bringing the Dow below 10,000 even though there were positive earnings in the tech sector and positive housing data.
- CIT Group Inc. (NYSE:CIT) is reportedly close to a deal with Goldman Sachs Group Inc. (NYSE:GS) to knock $1 billion off of a $3 billion loan, according to The Wall Street Journal. Under terms of the new deal, CIT would pay Goldman about $300 million if it enters bankruptcy court, the paper said.
- U.S. drugmaker Merck & Co. (NYSE:MRK) has won approval of its $41.1 billion reversemerger acquisition of rival Schering-Plough Corp. (NYSE:SGP) from European Union antitrust regulators.
- A letter that AT&T Inc.'s (NYSE:T) filing with the Federal
Communications Commission on Thursday may indicate significant
progress in the review of the telecom's $2.8 billion acquisition of
Centennial Communications Corp. (NASDAQ:CYCL), a report from Stifel, Nicolaus &
Co. states.
- Mobile networking equipment maker Tellabs Inc. (NASDAQ:TLAB) is acquiring privately held peer WiChorus Inc. for $165 million in cash. The deal gives WiChorus' VC backers Redpoint Ventures, Accel Partners, Mayfield and Pinnacle Ventures an exit after they invested a combined $43 million. (The Deal Pipeline subscribers can see the full story here.)
- Four of five mangers at American International Group Inc.'s (NYSE:AIG) Financial Products unit, who publicly said they would return controversial bonus money received last year, had not returned the money as of August, according to pay czar Kenneth Feinberg. The fifth employee hadn't made any promise.
- Washington Mutual wants a federal judge to force J.P. Morgan Chase & Co. (NYSE:JPM) to return over $4 billion to the bankrupt holding company, whose bank was seized by regulators and sold to J.P. Morgan.
- Tech spending is coming back but don't expect Juniper Networks Inc. (NASDAQ:JNPR) to spend on M&A. It posted a 44% drop in net income for the third quarter compared to the same period last year, but the network gear maker beat Wall Street Street estimates with revenue of $823.9 million -- up 5% from the previous quarter and about $24 million higher than expected.
In earnings news:
In economic news:
- Existing home sales were up 9.4% last month, according to a report by the National Association of Realtors and reported on CNBC.
- George White and Maria Woehr
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VITAL SIGNS |
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Figures are calculated
according to the latest stock data available at approximately 4:30 pm
ET |
|
October 23, 2009 |
|
Benchmark |
Spread |
Change from previous day |
1 week ago |
1 month ago |
1 year ago |
|
LIBOR 1-MONTH |
0.24 |
-0.001 |
0.25 |
0.25 |
3.26 |
|
LIBOR 3-MONTH |
0.28 |
-0.000 |
0.28 |
0.28 |
3.54 |
|
TED |
0.22 |
-0.010 |
0.22 |
0.18 |
3.21 |
|
Exchange |
Average |
Change from previous day |
1 week ago |
1 month ago |
1 year ago |
|
VIX |
22.30 |
+1.61 (+7.78%) |
21.43 |
23.49 |
|
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T-bond |
Current Price/Yield |
Price/Yield change |
|
3-Year |
99-14 / 1.57 |
-0-07.5 / .082
|
|
5-Year |
99-21.5 / 2.45 |
-0-13 / .088 |
|
10-Year |
101-04 / 3.49 |
|
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