Every 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:
- FREE HF 13F Report: Next week the StreetofWalls team will be releasing the 4Q 2011 Hedge Fund Intelligence Report, free sign-up http://bit.ly/y2CMbx
- Coatue Updates Positions: Coatue has completely sold out of its position in Universal Display Corp. (Nasdaq:PANL) http://bit.ly/w4Su6j
- Goldman Insider Trading: U.S. investigating Goldman analyst on insider tips, WSJ says
- Harbinger’s Largest Holding: LightSquared to be blocked by FCC after U.S. interference report
- Berkshire Additions: Berkshire takes Liberty Media, DaVita stakes as Weschler joins
- S&P Earnings Growth: earnings for all S&P500 companies are set to rise 6.6% in Q4. However, ex AAPL and that number drops to just 2.8% http://on.wsj.com/zMgKo9
- BAC Pressures: gets second sell-side downgrade in as many days. On Tues, Citi cut the stock Buy to Neutral. On Wed, Bernstein is coming out and cutting the stock from Outperform to Market Perform
- Paulson Dumps Banks: Paulson Eliminates Big Stakes in BofA (BAC), Citi (C) and Regions (RF)http://on.wsj.com/zSmGo6
- HIG Breakup: HF manager John Paulson pushed for a break-up of the company in a securities filing out Tues after the close
- HSBC Expansion: the co may seek to expand in China by increasing its brand network nearly 8x or by doubling its stake in Bank of Communications
- 8:30am: Empire Manufacturing, Feb., est. 15 (prior 13.48)
- 9am: Net Long-term TIC Flows, Dec., est. $45b (prior $59.8b)
- 9:15am: Industrial Production, Jan, est up 0.7% (prior up 0.4%)
- 9:15am: Fed’s Fisher speaks in San Marcos, Texas
- 10am: NAHB Housing Market index, Feb., est. 26 (prior 25)
- 10:30am: DoE crude inventories,e st. build 1600k (prior build 304k)
- 2pm: FOMC minutes from Jan. 24-25 meeting
- Weekly M&A Trends: This week saw some a big jump in M&A while ECM/DCM activity declined. Announced investment banking M&A doubled from the prior week to $80.9 billion, M&A volumes are still very low for the start of the year http://bit.ly/yuWbVv
- TRGL shrholder vote on proposed merger w/ ZaZa Energy 12pm
- Yahoo-Alibaba talks falter as investor steps up pressure
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.
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