J.C. Penney Co. Inc (NYSE:JCP) said today that it has successfully secured $500 million more in loans than the $1.75 billion it initially sought. The Plano, Texas-based retailer is trying hard to recover from the missteps of its former retailer Ron Johnson, and win back customers. The $2.25 billion loan is secured by a number of J.C. Penney properties including the company headquarters in Plano, distribution centres, stores and land. Last month, J.C. Penney Co....
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Introduction: An empirical review of “too big to fail” (TBTF) until The bond funding edge: Size has some benefits “Too big to fail” (TBTF) represents, among other things, the idea that the biggest US banks receive an unfair funding advantage over smaller banks in the bond market. Recent research has shown a sizeable advantage, but our empirical work suggests otherwise. Within the universe of bond-issuing US banks, the six largest banks did indeed experience...
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The jumbo mortgage market shrank during the housing downturn. Jumbo mortgages, defined as loans with an original balance exceeding $417,000, contracted disproportionally after the onset of the housing crisis with house prices plunging and the private mortgage market shattered. As the housing market begins to recover and the private mortgage market heals, Goldman Sachs examine the future prospect of the jumbo mortgage market. Growth opportunities in the jumbo mortgages market are significant There are...
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In the first quarter, hedge funds showered new love on Exxon Mobil Corporation (NYSE:XOM), General Electric Company (NYSE:GE), Time Warner Inc (NYSE:TWX) and Hess Corp. (NYSE:HES), resulting in a decline in short interest as they entered Goldman Sachs’ VIP Basket of 50 stocks. The VIP list includes the favorite stock picks from hedge funds in each quarter. We have covered the major points from GS Hedge Fund Trend Monitor, which found that American International Group Inc (NYSE:AIG) had maintained its hold...
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Analysts at Goldman Sachs Equity Research projected that the earnings per share (EPS) of Hewlett-Packard Company (NYSE:HPQ) will be generally in-line with the consensus estimate of Wall Street analysts for the second quarter of 2013. They expect the company to post $0.80 EPS and projected that its revenue might be lower-than-expected because of strong competition and weak demand in PC’s and enterprise hardware. Goldman Sachs Group, Inc. (NYSE:GS) analyst Bill Shoppe and his fellow analysts...
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Carlyle Group LP (NASDAQ:CG) is looking to raise 200 billion yen ($2 billion) with the launch of a third Japan fund, reports Reuters. Carlyle Group’s proposed $2 billion fund is set to succeed its earlier seven-year old fund. Carlyle Group LP (NASDAQ:CG)’s proposal comes in the wake of potential revival in the Japanese market, bolstered by Prime Minister Shinzo Abe’s pledge to boost the country’s struggling economy through a series of aggressive monetary and...
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Saks Inc (NYSE:SKS) shares rose as much as 18 percent in after-hours trading after it was revealed that the company hired Goldman Sachs to look into a possible sale. That’s according to a report by New York Post writer James Covert. Potential Buyers For Saks Saks apparently is interested in other strategic options outside of a sale as well. According to Covert, the retailer’s flagship store on Fifth Avenue in Manhattan may be worth...
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Microsoft Corporation (NASDAQ:MSFT) shares still receive a sell rating from a team of analysts at Goldman Sachs Group, Inc. (NYSE:GS), although they have bumped their price target for the stock up slightly to $30 per share from $27 per share. In a report released to investors this week, they updated their PC and tablet shipment forecasts. Updated Forecasts For Microsoft For Microsoft Corporation (NASDAQ:MSFT)’s June quarter, they’re expecting total revenue of $21.1 billion and...
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Reinstate Aetna at Buy following Coventry acquisition via Goldman Sachs We have removed the NR designation from Aetna Inc. (NYSE:AET) shares. Aetna is now added to the Buy List with a 12-month price target of $68. Following acquisition of Coventry Health Care, Aetna has greater regional commercial market breadth/strength and is now much better positioned to leverage Medicaid and dual eligible growth opportunities. We also see further upside from Coventry Health Care, Inc. (NYSE:CVH) merger synergies in 2013-2016....
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As investors hungry for yield buy Indian junk bonds, Greek corporate debt, and anything yielding a few percent, many are warning of a bubble. The warnings usually come from perma bear pundits, or regular pundits but the sell side usually likes to be cheerleaders of markets rallies. However, Goldman Sachs takes a break with that tradition in a new report on CCC bonds (AKA junk bonds). Goldman notes that the credit risk premium on...
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Many students of investing know about the great investment record of Warren Buffett but few even know of the man Buffett called one the greatest capitalists and capital allocators of all-time, Dr. Henry Singleton, who built Teledyne Technologies Incorporated (NYSE:TDY) from scratch during 1960 to 1986. The best investors are avid history students of the market, companies, and great investors. The more you learn from others, the less expensive your own tuition will be. Not...
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