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Saturday, November 21, 
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Entries tagged "rumors"

CIT-IndyMac merger rumor debunked

Hedge fund manager John Paulson of Paulson & Co. will not be combining New York lender CIT Group with IndyMac Federal Bank.


Markets digest talk of another Netflix takeover

Netflix is apparently a target again, according to TheFlyonTheWall.com.


Morgan Stanley gets Mitsubishi reassurance on capital

Morgan Stanley's shares stabilized somewhat on Wednesday after Tokyo-based Mitsubishi UFJ Financial Group Inc. reaffirmed its commitment to a $9 billion capital injection into the U.S. bank. In a statement responding to rumors Tuesday that MUFJ was thinking of pulling out of the agreement, the Japanese bank said it remains committed to the deal. ...


Is Cadbury on Kraft's menu?

As rumors of Kraft Foods Inc. interest in adding Cadbury plc to its cupboard of brands heats up, Citigroup Inc. downgraded its rating on the English confectionery. ...


More Lehman rumors after the bell

That's right. It's not over yet. Apparently it's overtime! Shares of Lehman Brothers Inc. rose 3.6% to $8.07 in extended trading on Tuesday after two different rumors involving Goldman, Sachs & Co. surfaced.  ...


Bayer bid a rumor, Pfizer woes not a rumor

Indiplon. Exubera. Dalbavancin. Torcetrapib. Chantix. Quick quiz: What do these names have in common?  No, they're not rap stars or distant planets. They're all high-profile drugs from New York's Pfizer Inc. that have tanked or run into big problems the past couple years. The antibiotic dalbavancin, aimed at nasty super-resistant bugs like MRSA, was in line for regulatory approval when Pfizer said Tuesday it would have to put it through more testing.Pfizer's poor track record of late was the backdrop to unfounded rumors Tuesday morning that it was mulling a takeover bid of Germany's Bayer AG. Investors reacted by driving...


Commerzbank plans meeting to discuss Dresdner buy

Although ongoing loses at Dresdner Bank AG were thought to stymie Allianz SE's sales efforts earlier in the month, Commerzbank AG remains undeterred in its interests in Dresdner, according to a Reuters report. Commerzbank is reportedly preparing to call a supervisory board meeting late next week to discuss a possible offer, a Reuters source has said....


Baugur still eyeing Saks

Shares in U.S. luxury department store chain Saks Inc. got a jolt Thursday on reports that Icelandic investor Baugur Group hf was still interested in the company. The retailer's shares rose as high as $10.90 before retreating to close up 5.35% at $10.44. Overall, shares are up from a 52-week low on July 14 of $9.15, but off a 52-week high on Nov. 15 of $23.05....


Rumors and shorting, con't: And now the fun begins

The Wall Street Journal tells us Monday that the Securities and Exchange Commission is (a) ready to extend the shorting jihad to more stocks over a longer period and (b) that it's settled on four Lehman Brothers Inc. rumors to chase. This is good news, if only as blog fodder. The most interesting thing about (a) is the theme, which the Journal was actually breathing life into Monday morning, that the shorting ban was responsible for the market surge. I would respectfully disagree. The truth is I killed a chicken last week after chanting the name of every financial...


Telegraph talks up HBOS sale

The rumor mill keeps on grinding. London's Daily Telegraph is reporting that J.P. Morgan Chase & Co. is getting together a luncheon club to share out the tastiest morsels of British banking group HBOS plc.


Shorting and the debate over financial regulation

Face it, it's fun -- and a little sad -- to mock the Securities and Exchange Commission's precipitous decision to chase after rumors and shorting with a stick. I know there's a crisis, but does anyone with a brain really believe that either initiative will achieve much of anything? It's sad, of course, because the SEC has long been a great institution, as regulatory institutions go, and to see it go sniffing after rumors and rumormongers is an affront to its history and dignity. The decline of the SEC is thus a sign, as if we need another, that a...


A market unhinged: Shorts, rumors and the thorazine solution

Enter the whirlwind. It's been building, but Tuesday was a day when any ties to past reality seemed to snap and get flung around like newspapers in a hurricane. The market is spinning faster and faster, and we've reached the point where the dynamism that propels it is fueled by, well, evil thoughts, which need to be stamped out. The pack has turned on itself. ...



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Easing the stress of distressed M&A

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Editor's Note

Editor's letter: Nov. 16, 2009

Beneath the veneer of Wall Streeters beats the same heart, stirred by the same determinants of behavior.



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