|
Published October 22, 2009 at 3:53 PM
|
Welcome to Deal Stocks. In the news today are AXA (NYSE:AXA), Bank of New York Mellon (NYSE:BK), Cisco Systems Inc. ( NASDAQ:CSCO), Equinix Inc. ( NASDAQ:EQIX), Switch & Data Facilities Co. ( NASDAQ:SDXC), Harvest Energy Trust ( NYSE:HTE), Cadbury plc (NYSE:CBY), Procter & Gamble Co. (NYSE:PG) and Sara Lee Corp.'s ( NYSE:SLE) For more hot stocks, check out the arbitrage charts in The Deal Pipeline (subscription required) or stocktwits
The Dow finished up 131.95, or 1.33%, to 10,081.31, while the Nasdaq moved up 14.56, or .68%, to 2,165.29.
- The New York Times Co. (NYSE: NYT) announced a loss of $35.6 million for the third-quarter hampered by a fall in advertising by 30% in its News Media Group. The loss comes in the wake of the company's planned reduction of of its newsroom by 100 positions. The Gray Lady restated that it would not sell its Boston Globe newspaper and is still trying to sell its stake in the Boston Red Sox.
- BlackRock Inc. (NYSE:BLK) - co-owner of Stuyvesant Town / Peter Cooper Village - received a court ruling that stated that it along with fellow co-owner Tishman Speyer Properties LP illegally converted rent regulated apartments while receiving government tax subsidies. The ruling doesn't bode well for BlackRock and Tishman, which are struggling to pay its enormous debt load of nearly $4.4 billion they took out to purchase the complex in 2006. Potentially, the ruling could further reduce its revenue from the development, possibly speeding up foreclosure on the property.
- French insurer AXA (NYSE:AXA) is in the early stages of selling its 15% stake in China's Taikang Life Insurance Company, in a deal that could fetch as much as $1 billion, according to Reuters.
- Russia dropped its $22.5 billion lawsuit against Bank of New York Mellon (NYSE:BK), according to Reuters. Russia had been seeking compensation from the bank after its former vice president, Lucy Edwards, helped illegally transfer $7 billion out of Russia in the late 1990s.
- Highly acquisitive Fortune Brands Inc. (NYSE:FO) will release
third-quarter earnings on Friday at 10 a.m. ET. Although the economy
has been fairly week, Fortune Brands, which sells everything from
premium spirits, home and hardware items to golf clubs, is expected to
announce earnings of 61 cents per share.
- Nestle SA plans tobuy back shares and raise funds from the sale of
its stake in eye care firm Alcon (NYSE:ACL).
The firm declined to comment that it was raising cash for a possible counterbid for Britain's Cadbury plc (NYSE:CBY),
according to Reuters.
- Procter & Gamble Co. (NYSE:PG) is eyeing parts of Sara Lee Corp.'s (NYSE:SLE) international household products unit, citing people familiar with the discussions, according to Reuters.
In economic news: - Initial jobless applications rose by 11,000 to 531,000 in
the week ended Oct. 17.
Economists project the unemployment rate will reach 10
percent by the first quarter of 2010, according to Bloomberg.
|
VITAL SIGNS |
|
Figures are calculated
according to the latest stock data available at approximately 4:00 pm
ET |
|
October 22, 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 |
3.28 |
|
LIBOR 3-MONTH |
0.28 |
-0.001 |
0.28 |
0.29 |
3.54 |
|
TED |
0.23 |
+0.014 |
0.22 |
0.18 |
3.14 |
|
Exchange |
Average |
Change from previous day |
1 week ago |
1 month ago |
1 year ago |
|
VIX |
20.67 |
-1.55 (-6.98%) |
21.72 |
23.08 |
|
|
T-bond |
Current Price/Yield |
Price/Yield change |
|
3-Year |
99-22 / 1.48 |
0-00+ / -.005
|
|
5-Year |
100-04 / 2.35 |
-0-01.5 / .010 |
|
10-Year |
101-24+ / 3.41 |
|
|
|
Continue reading below
|
