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Published October 6, 2009 at 4:30 PM
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 Welcome to Deal Stocks. In the news Tuesday are Emerson Electric Co. (NYSE:EMR), Avocent Corp. (NASDAQ:AVCT), Societe Generale SA, American International Group Inc. (NYSE:AIG), HSBC Holdings plc (NYSE:HBC) ING Groep NV (NYSE:ING), Hess Corp. (NYSE:HES) and OpenTV Corp. (NASDAQ:OPTV).
Stocks rallied Tuesday as the Dow closed up 131.50, or 1.37%, to 9,731.25, and the Nasdaq closed up 35.42, or 1.71%, to 2,103.57 on strong earnings reports and upgrades in the financial sector.
For more hot stocks, check out arbitrage in The Deal Pipeline (subscription required) or stocktwits.
M&A
- Primus Financial has won an auction for American International Group Inc.'s (NYSE:AIG) Taiwan insurance unit Nan Shan Life at $2.2 billion with a contract to be signed on Friday, according to the Chinese-language Economic Daily, Reuters reported.
- Australia's GrainCorp Ltd. Tuesday said it would buy private equity-owned United Malt Holdings Ltd. for A$757 million ($661.5 million) including debt to transform itself into an international agribusiness. Subscribers can read the story on The Deal Pipeline.
- Cisco Systems Inc. (NASDAQ:CSCO) has gotten plenty of attention for its Oct. 1 announcement that it will pay $3 billion to acquire Norwegian video gear maker Tandberg ASA. But as our The Deal Pipeline report noted (subscription required), Cisco wasn't the only buyer who had looked at Tandberg. Another was reportedly private equity firm Silver Lake Partners, professional home of Charles Giancarlo, a former top Cisco executive.
- We've written plenty about Xerox Corp.'s (NYSE:XRX) $8.4 billion bid for Affiliated Computer Services Inc. (NYSE:ACS) and Dell Inc.'s (NASDAQ:DELL) $3.9 billion deal to buy Perot Systems Corp. (NYSE:PER). Olaf de Senerpont Domis expands on some of that coverage in the current issue of The Deal magazine.
CORPORATE RESTRUCTURING
- Bank of America Corp. (NYSE:BAC) CEO Ken Lewis is fading out of the picture, and it is looking even more likely that Citigroup Inc. (NYSE:C) CEO Vikram Pandit may get the hook.
EARNINGS
- Pepsi Bottling Group Inc. (NYSE:PBG) said Tuesday its third-quarter net income rose to $254 million, or $1.14 a share, from $231 million, or $1.06 a share, in the year-ago period. PepsiCo Inc. (NYSE:PEP) acquired Pepsi Bottling in August.
FINANCINGS
- Societe Generale SA unveiled a plan to sell $7 billion in new shares to repay state support and pursue acquisitions. Subscribers can read the full story in The Deal Pipeline.
- Follow all the developments with CIT Group Inc. (NYSE:CIT) with the our newest Dealwatch on the struggling commercial lender.
ECONOMIC NEWS:
Follow us on Twitter @dealstocks - Maria Woehr and Gerald Magpily
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VITAL SIGNS |
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Figures are calculated
according to the latest stock data available at approximately 4:00 pm
ET |
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October 6, 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 |
4.09 |
|
LIBOR 3-MONTH |
0.28 |
-0.000 |
0.28 |
0.31 |
4.29 |
|
TED |
0.19 |
+0.002 |
0.17 |
0.18 |
2.19 |
|
Exchange |
Average |
Change from previous day |
1 week ago |
1 month ago |
1 year ago |
|
VIX |
25.67 |
-1.17 (-4.36%) |
25.19 |
25.26 |
|
|
T-bond |
Current Price/Yield |
Price/Yield change |
|
3-Year |
100-00 / 1.37 |
-0-03 / .033
|
|
5-Year |
100-20 / 2.24 |
-0-05 / .033 |
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10-Year |
103-03 / 3.26 |
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That was a good read.. ! I have learned a lot from your site already and I am planning to take up large cap investments soon.
Cheers
Goerge