|
Published November 11, 2009 at 4:53 PM
|
 Welcome to Deal Stocks. In the news Wednesday are Ambac Financial Group Inc. (NYSE:ABK), American International Group Inc. (NYSE:AIG), Bank of America Corp. (NYSE:BAC), Volkswagen AG, Wilhelm Karmann GmbH, Reed Elsevier NV (NYSE:ENL), Kraft Foods Inc. (NYSE:KFT), Cadbury plc (NYSE:CBY), Blackstone Group LP (NYSE:BX), Kohlberg Kravis Roberts & Co., Apax Partners LLP, Permira Advisers LLP, Providence Equity Partners Inc., TDC A/S, Logitech International SA (NASDAQ:LOGI), LifeSize Communications, Google Inc. (NASDAQ:GOOG), AdMob Inc., United Technologies Corp. (NYSE:UTX) , General Electric Co. (NYSE:GE), Hewlett-Packard Co. (NYSE: HPQ) and 3Com Corp. (Nasdaq: COMS).
Stocks rose after Federal Reserve officials reaffirmed that rates will remain low, according to CNBC. Overall, the Dow closed up 44.29, or .43%, to 10,291.26 while the Nasdaq finished up 15.82, or .74%, to 2,166.90.
For more hot stocks, check out the arbitrage charts in The Deal Pipeline (subscription required) or stocktwits. See the latest on the rally at Overheard on Stocktwits.
- Hewlett-Packard Co. (NYSE:HPQ) and 3Com Corp. (NASDAQ:COMS) entered into a definitive merger agreement under which HP will purchase 3Com, at a price of $7.90 per share in cash, or approximately $2.7 billion.
- Robert Benmosche has told the board of American International Group Inc. (NYSE:AIG) that he is considering stepping down as CEO of the government-controlled insurer, just three months after taking the job, according to The Wall Street Journal.
- Bank of America Corp. (NYSE:BAC) should pick an internal candidate to succeed current CEO Ken Lewis rather than an outsider with limited understanding of the biggest U.S. bank, former lead director Temple Sloan told Bloomberg. Sloan favors Brian Moynihan, the bank's consumer banking head, or Barbara Desoer, head of home loans and insurance, because they excelled at the bank.
- Dutch publisher Reed Elsevier NV (NYSE:ENL) appointed Erik Engstrom as chief executive Wednesday, after Ian Smith resigned "by mutual agreement" only eight months after taking the job.
- Volkswagen AG will consider the purchase of assets from insolvent automaker Wilhelm Karmann GmbH at a board meeting Wednesday, three sources told Bloomberg.
- Ambac Financial Group Inc. (NYSE:ABK) lost a third of its market value Tuesday after the bond insurer said its main bond nsurance unit, Ambac Assurance, may file for bankruptcy protection.
- Kraft Foods Inc. (NYSE:KFT) may be holding strong to its original bid for Cadbury plc (NYSE:CBY) (much to the chagrin of the latter), but hedge fund manager John Paulson seems to think the snack food giant will eventually up its offer. According to a regulatory filing, Paulson doubled his stake in Cadbury to 2.1%, scooping up an additional 14.8 million shares.
- Blackstone Group LP (NYSE:BX), Kohlberg Kravis Roberts & Co., Apax Partners LLP, Permira Advisers LLP and Providence Equity Partners Inc. are arranging a stock sale of portfolio company TDC A/S of Denmark, according to Bloomberg. The firms may sell part of their 88% stake, valued at about $7.4 billion, in the Copenhagen-based phone company. The buyout shops acquired TDC in 2006 for $3 billion in cash and $12 billion of debt.
- Computer mouse maker Logitech International SA (NASDAQ:LOGI) is buying privately held video conferencing company LifeSize Communications for $405 million.
- Google Inc.'s (NASDAQ:GOOG) CEO Eric Schmidt said the $750 million purchase of AdMob Inc. will expand sales of ads that appear in applications on smartphones such as the iPhone as the combination gives Google the largest market share in mobile advertising.
- United Technologies Corp. (NYSE:UTX) is close to a deal to purchase of General Electric Co.'s (NYSE:GE) fire alarm and security systems unit for at least $1.8 billion, Bloomberg reported.
- IAC/InterActive Corp (NASDAQ:IACI) senior vice president of M&A and finance Joey Levin is taking over as chief executive of the company's Mindspark Interactive Network. Also moving over is IAC SVP of corporate development Mark Stein, who will become Mindspark's chief strategy officer.
In economic news:
- The dollar fell to a 15-month low, according to CNBC.
- George White, Maria Woehr and Gerald Magpily
|
VITAL SIGNS |
|
Figures are calculated
according to the latest stock data available at approximately 4:30 pm
ET |
|
November 11, 2009 |
|
Benchmark |
Spread |
Change from previous day |
1 week ago |
1 month ago |
1 year ago |
|
LIBOR 1-MONTH |
0.24 |
-0.000 |
0.24 |
0.24 |
1.48 |
|
LIBOR 3-MONTH |
0.27 |
-0.002 |
0.28 |
0.28 |
2.18 |
|
TED |
0.21 |
+0.005 |
0.22 |
0.21 |
3.03 |
|
Exchange |
Average |
Change from previous day |
1 week ago |
1 month ago |
1 year ago |
|
VIX |
23.05 |
+0.21 (+0.92%) |
27.72 |
23.12 |
|
|
T-bond |
Current Price/Yield |
Price/Yield change |
|
3-Year |
99-31 / 1.39 |
0-00 / .000
|
|
5-Year |
100-12.5 / 2.29 |
0-00 / .000 |
|
10-Year |
99-03 / 3.48 |
|
|
|
Contributed content from
Middle market video
 |
Companies must weigh going public against shortening their runway, says Sonnenschein's Victor Boyajian. |
More video...
|
|
|
Categories
Blog roll
Archives
|
