At first glance, the news that the New York state attorney general is prepared to charge Citi with fraud regarding its auction rate securities practices is similar to news of charges against Merrill Lynch and UBS. But the twist is that Andrew Cuomo's office says that Citi destroyed evidence--tapes and documents--that were under subpoena. [...]
"When gangrene strikes, amputation is sometimes the only sure remedy. Lehman Brothers may need to lop off two limbs." So says Breakingviews. All the attention was being paid to Fannie and Freddie and then Merrill Lynch has taken the spotlight off the firm. Which must be a relief. But the respite may be brief. Panic [...]
These are some of the key analyst upgrades and positive calls we have seen early this Monday morning with over 2 hours to open: Akamai Tech (AKAM) Raised to Buy at Jefferies. Amgen (AMGN) Started as Buy at Banc of America. Apartment Investment & Management (AIV) Raised to Outperform at [...]
This week will mark another somewhat unusual mark for IPO's as a technology and communications player with an established name is set to come public. Rackspace Hosting, Inc. (NYSE: RAX) is coming public at a strange time, yet it has shown growth, has a solid name, and is profitable. As [...]
Lehman (LEH) may have to raise several billion dollars. With its market cap below $13 billion, that could be painful for current holders of its common shares. According to Reuters, "Lehman Brothers Holdings Inc is expected to follow in Merrill Lynch & Co Inc's footsteps and sell a lot of [...]
We just saw a report out of Alnylam Pharmaceuticals Inc. (NASDAQ: ALNY) that may get traders moving on both sides of the stock. The company has just announced that management will not be presenting at the Bank of America 2008 Specialty Pharmaceuticals Conference on August 8, 2008, as previously scheduled. [...]
Market Watch |
August 5th, 2008 |
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Wachovia continues to headline losers among financials in midday trading after an analyst called the recent rally in the stock overdone, as the broader financial sector clawed back some gains in line with the rally in the broader market.[...]
Merrill Lynch chief executive John Thain said Monday if the company loses more money, it may have to raise more capital, leaving the door open to further capital raises if markets deteriorate, reports Reuters. Thain has been widely criticised by investors for repeated assurances the bank was well capitalised over [...]
China Development Bank, which funds the nation's public works, is interested in buying Allianzs Dresdner Bank unit to gain a foothold in the European market, reports Bloomberg. The Beijing-based lender has conducted due diligence on Dresdner, say people familiar with the matter. CDB has acquired 3.1% of UK lender Barclays [...]
Lloyds, for so long criticised for being boring, is finally leading Britain's mangy pack of banking dogs.[...]
David Aufhauser has quit as the general counsel of UBS's investment banking division as the fall-out widens from investigations into the failed market in auction rate securities[...]
The story of the resignation of Steven Rattner, a managing director at Credit Suisse, started with an extramarital affair and ended up on the Internet.[...]
CNBC |
August 5th, 2008 |
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European shares fell for a third straight day on Monday, as results from HSBC hit financial stocks and a broad-based decline in metal prices dented the mining sector. Read More Topics:Economy (Global) | Mergers & Acquisitions | Earnings | Stock Market | Europe | Market OutlookPermalink[...]
energy, IPOs, deals Wade Roush wrote: August doldrums don't appear to be affecting the New England clean energy industry. Two area companies-one in wind, one in solar-filed for initial public offerings with the Securities and Exchange Commission yesterday. Together the companies hope to raise three-quarters of a billion dollars-and to [...]
PE HUB |
August 5th, 2008 |
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When former Wall Street analyst Lise Buyer helped take Google public in 2004, anything seemed possible. Yet on the heels of a quarter when not a single technology company went public, most in Silicon Valley are no longer sanguine about their options. Buyer doesnt understand why. I get cranky when [...]
PE HUB |
August 5th, 2008 |
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For this week's Buyouts, I spoke with Jim Miller, a principal at Supply Chain Equity Partners - a mid-market, distribution-company oriented PE newcomer that easily takes home the blue ribbon for "Most Sector-Specific Firm Name." We touch on some more serious business topics below, edited for clarity: peHub: Your firm, [...]
Are you a recent grad that majored in Economics, Finance, Accounting, or Business Administration/Management and still can't land a job at an investment bank? Have you sent your resume to countless [...]
C++ / MFC superstar front office developer[...]
NY-New York City, Provide support and control to the Equity Derivatives trading desk of a global investment bank. Responsibilities: P&L reporting on a number of Equity and Convertible Bond strategies Proactive inve[...]
A top tier boutique investment bank is seeking an experienced institutional equity sales person to direct their sales effort in the southwest.[...]
