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Published October 14, 2009 at 4:42 PM
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 Welcome to Deal Stocks. In the news Wednesday are Bank of America Corp. (NYSE:BAC), American International Group Inc. (NYSE:AIG), National Amusements Inc., CBS Corp. (NYSE:CBS), Viacom Inc. (NYSE:VIA), RailAmerica Inc. (NYSE:RA), Fortress Investment Group LLC (NYSE:FIG), J.P. Morgan Chase & Co. (NYSE:JPM), Abbott Laboratories (NYSE:ABT), Bloomberg LP, McGraw-Hill Cos. (NYSE:MHP), Citigroup Inc. (NYSE:C), Goldman Sachs Group Inc. (NYSE:GS), Harley Davidson Inc. (NYSE:HOG) and Morgan Stanley (NYSE:MS).
Stocks rallied Wednesday closing above 10,000, for the first time in a year getting a boost from positive earnings from J.P. Morgan Chase & Co. (NYSE:JPM). The Dow closed up 144.80, or 1.47%, to 10,015.86 while the Nasdaq finished up 32.34, or 1.51%, to 2,172.23.
For more hot stocks, check out arbitrage in The Deal Pipeline (subscription required) or stocktwits.
- Records of deliberations on Bank of America Corp.'s (NYSE:BAC) acquisition of Merrill Lynch & Co. are getting board members in even more hot water as e-mails containing such statements as "Unfortunately it's screw the shareholders!!" come to light. Additionally, the bank turned to executive search firm Russell Reynolds Associates to help find its next CEO.
- Treasury pay czar Kenneth Feinberg is urging American International Group Inc. (NYSE:AIG) to reduce the size of the $198 million in retention bonuses it plans to pay staffers.
- J.P. Morgan Chase & Co. (NYSE:JPM) crushed analyst estimates, reporting profits of $3.6 billion, or 82 cents a share on revenues of $28.8 billion. Analyst predicted the bank would earn 49 cents per share on revenues of $24 billion.
- Abbott Laboratories (NYSE:ABT) reported third-quarter earnings per share of 92 cents beating analyst estimates by 2 cents.
- It was a less-than-stellar debut for North American railroad company RailAmerica Inc. (NYSE:RA) as shares of the North American railroad company fell $1.25, or 8.3%, to close at $13.75 on Tuesday. Fortress Investment Group LLC (NYSE:FIG) still owns 55% of the company following the IPO. (The Deal Pipeline subscribers can read the full story here.) So apparently Blackstone Group LP (NYSE:BX) isn't the only private equity firm eying the IPO market. More IPOs are likely says Gordian Group LLC's Peter Kaufman.
- Business media empire Bloomberg LP acquired BusinessWeek from McGraw-Hill Cos. (NYSE:MHP). Terms of the sale were not disclosed, but BusinessWeek is reporting according to sources that Bloomberg paid between $2 million and $5 million including the assumption of debt. The deal likely may trigger more consolidation. Thomson Reuters has reached an agreement to acquire market commentary Web site Breakingviews reportedly for between $15 million to $20 million.
- Northrop Grumman Corp. (NYSE:NOC) has named Edward Swallow as vice president of business development for the defense contractor's civil systems division. Swallow previously was VP of business acquisition process and proposal operations for the information systems sector, which Northrop is downsizing in response to concerns of conflicts of interest.
- Skype may spend $50 million on an acquisition as it faces a lawsuit that targets the very foundation of the voice-over-Internet-protocol company. Citing multiple sources, TechCrunch.com says Skype is in negotiations to buy peer-to-peer VoIP startup Gizmo5, which has a Skype-like service with about 6 million users.
The earnings calendar heats up this week:
Thursday features
Next week
In economic news:
- Retail sales fell by 1.5% in September, according to CNBC.
- Rep. Barney Frank, D-Mass., has a proposal to regulate the derivatives market that won't give the government authority to ban "abusive swaps," according to Bloomberg.
- 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 |
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October 14, 2009 |
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Benchmark |
Spread |
Change from previous day |
1 week ago |
1 month ago |
1 year ago |
|
LIBOR 1-MONTH |
0.25 |
+0.001 |
0.24 |
0.24 |
4.47 |
|
LIBOR 3-MONTH |
0.28 |
-0.000 |
0.28 |
0.30 |
4.64 |
|
TED |
0.21 |
-0.005 |
0.22 |
0.16 |
2.66 |
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Exchange |
Average |
Change from previous day |
1 week ago |
1 month ago |
1 year ago |
|
VIX |
22.86 |
-0.13 (-0.57%) |
24.68 |
23.86 |
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T-bond |
Current Price/Yield |
Price/Yield change |
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3-Year |
99-23+ / 1.47 |
-0-03 / .032
|
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5-Year |
100-04+ / 2.34 |
-0-07.5 / .050 |
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10-Year |
101-22 / 3.42 |
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