Yahoo Inc. names two new members to its board of directors to fill seats created through a settlement deal with billionaire activist Carl Icahn, who pursued a proxy battle against the company earlier this year.
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JPMorgan and Morgan Stanley jump on the Auction Rate Securities settlement bandwagon
Thu, Aug 14, 2:52 PM ET
Filed under: JPMorgan Chase (JPM), Bank of America (BAC), Goldman Sachs Group (GS), Morgan Stanley (MS), Wachovia Corp (WB), Lehman Br Holdings (LEH)Bloomberg News reports that two more big banks -- JPMorgan Chase (NYSE: JPM) and Morgan Stanley (NYSE: MS) have made offers of $7 billion to 30,000 holders of Auction Rate Securities (ARS) -- those long-term securities whose yields reset in weekly ...
Today was an interesting ride in the 52-week low club after we have seen very volatile markets. While oil fell $1.00 and while the S&P, NASDAQ, and DJIA were up most of the day, there were plenty of stocks gracing the 52-week lows: Akeena Solar, Inc. (AKNS)... down in sympathy with others, more speculative name in solar.American Electric Power (AEP)... becoming habitual. CompuCredit Corp. ...
Jesse Eisinger's column this month is about the different regulatory structures in London and New York, and how they both failed. I asked him about it: Jesse, you travelled to London for your latest column, and came away with the conclusion that neither the UK's principles-based regulatory approach nor the US's rules-based system have worked very well in practice. That said, you do seem to thin...
Filed under: Major movement, Analyst reports, General Motors (GM)General Motors Corp. (NYSE: GM) stock finished the day up nearly 11%, or $1.09 to $11.35 after two days of losses. It seems that overall sentiment for blue chip stocks was stronger today as buyers looked for bargains. With the recent slide in oil prices, including another decline today, many stocks previously hit by the runup in o...
Have you tried going into a Toyota dealership to buy a new or used Toyota Prius over the last 12 to 18 months? If you said yes, then you know you can't really get one unless you put your name on the list long ago. Toyota Motor Corp. (NYSE: TM) landed itself with a huge winner in its hybrid sales. Many comment that the Prius isn't that pretty to look at or that they think it is "Too ECO" which ...
Filed under: Earnings reports, Bad news, Merrill Lynch (MER)In a move that underscores how badly things are going on Wall Street, Merrill Lynch & Co. (NYSE: MER) has announced a freeze on new hires through the end of the year.The freeze, which excludes retail brokers, extends to previously budgeted posts as well as replacement hires, according to Bloomberg News, which broke the story. Any e...
Filed under: Exxon Mobil (XOM)The Associated Press reports that in San Antonio, TX, premium unleaded sold for 38 cents a gallon. That's what I call a bargain -- particularly since I considered myself lucky to pay $3.87 a gallon for mid-grade earlier this afternoon. It turns out that there is a little problem with this 38-cents-a-gallon gas. It was a mistake in the pump. AP interviewed Dill Food...
Filed under: Hansen Natural (HANS), Alcoa Inc (AA), Gannett Co (GCI), Martha Stewart Living Omnimedia (MSO)If you are involved in the market right now and watch the volatility with swings up and down, it might be easy to forget that trading volume is very thin and that moves can be exaggerated easily. Today's numbers, with a recession in Europe and stagflation rising in the U.S., were discounte...
Filed under: Starbucks (SBUX)Back in May, Nelson Peltz reported a stake of less than 1% in Starbucks Corporation (NASDAQ: SBUX), and the stock jumped 6% on the news.I was skeptical: I wrote on BloggingBuyouts that "Most likely Peltz's stake is a non-issue and will lead to no changes. I certainly don't buy that it's a good reason for the stock to add more than half a billion dollars to its marke...