morning market updateEvery morning the Street of Walls team puts out an update on market levels, today’s top stories, and active M&A deals.

Today’s Top Stories:

  • IB Analyst’s Could see Pay Freeze: Bloomberg is out this morning with the touchy subject about junior bankers’ (analysts and associates) pay structure http://bit.ly/y66B4T
  • Citi Wants Disclosure: Citigroup’s CEO wants banks to be forced to reveal their risk measuring techniques so investors can “punish” those firms who are too optimistic in their assumptions.  Pandit wants banks to publish how risk is being measured across their balance sheets. (FT)
  • Fairholme Adds OSH: Bruce Berkowitz’s Fairholme Capital Management disclosed a 14.9% ownership of the outstanding common stock of Orchard Supply Hardware Stores (Nasdaq:OSH)http://bit.ly/y6U08n
  • New Hampshire GOP: Romney wound up winning NH w/39.4% vs. #2 Paul at 22.8%, Huntsman at 16.8%, Gingrich at 9.4%, Santorum at 9.3%, and Perry at 0.7%
  • PE firms eyeing Foreclosures: Oakland, California-based Waypoint Real Estate Group, a major acquirer of so-called “REO to Rental” (Real Estate Owned) just announced a partnership with a private equity firm, Menlo Park, California-based GI Partners, to buy foreclosed propertieshttp://bit.ly/xsoKxi
  • Comps for Consumer & Tobacco: The Street of Walls team has compiled a comparable companies analysis on the Consumer Products and Tobacco sectors http://bit.ly/xPU0eG
  • Debt Ceiling…Again: The Obama administration will be asking Congress to raise the debt limit in the coming days, White House press secretary Jay Carney said on Tuesday http://bit.ly/xZGzwi
  • Diamondback adds INMD: Diamondback Capital disclosed a 7.64% ownership of the outstanding common stock of IntegraMed America (Nasdaq:INMD) http://bit.ly/xHPSDQ
  • FED made $79bn in 2011: Preliminary unaudited results released by the central bank Tuesday showed the Fed had net income of $78.9 billion in 2011. In 2010, the Fed booked a record $81.7 billion profit and returned $79.3 billion of it to the Treasury http://on.wsj.com/z7x70b
  • Fannie Mae: published an 8K after the close detailing how CEO Williams will step down once a replacement is appointed

M&A Watch:

  • Weekly M&A Trends: M&A volumes declined close to 50% while equity underwriting fell over 80% from the prior week.  Worst week in ECM since 2009 http://bit.ly/wjW2QA
  • PE Deals of the Week: The Gores Group, a leading LA-based private equity firm, announced that through an affiliate it has signed an agreement to acquire The Hay Group http://bit.ly/ApTlXr
Disclosure: I do not have a position in any stocks mentioned in this article, do not have a plan to initiate a position within the next 72 hours.
Disclaimer:  The information, opinions, material, and any other content provided in this article is for informational purposes only and is not to be used or considered an offer or solicitation to buy or sell securities, investment products, financial instruments, or to participate in any particular investment strategy. The information, opinions, material, and any other content provided in this article does not constitute as a recommendation or as advice to buy or sell securities, investment products,  financial instruments, or to participate in any particular investment strategy.
ValueWalk Premium Subscription Includes:

  • 3 Write-ups per month (EXCLUSIVE content that you won’t find anywhere else)
  • Personal Track Record from Jacob’s Brokerage
  • Any question you have answered within 48 hours