Entries tagged "stock offering"
Things may have looked rosy for Goldman Sachs & Co. (NYSE: GS) shareholders on Monday when its Q1 earnings blew away estimates and management green lit a $5 billion stock offering; but things quickly turned south for those that jumped in early on Tuesday. The oversubscribed offering priced at $123 a share at 9:00am on Tuesday, but had fallen below that by midday, tumbling to a $115.11 close. With demand high, Goldman was also able to exercise the offering's over allotment option and pocket another $750 million. But with the stock down 11.5%, subscribers of the offering and over allotment...
Fresh off its acquisition of Washington Mutual Inc.'s assets for the bargain price of $1.9 billion, J.P. Morgan Chase & Co. shot past its original $8 billion target for its common stock offering Friday morning, as strong demand allowed the bank to increase the size to $10 billion. ...
Spurred on by the positive reaction to a $5 billion investment from Warren Buffett's Berkshire Hathaway Inc., newly minted commercial bank Goldman Sachs Group Inc. is doubling the amount it plans to raise from a stock offering from $2.5 billion to $5 billion. ...
