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:
- Greece Update: as expected, the Greek parliament Sun night approved an austerity package
- Portugal Bailout: Troika Officials from the IMF and European Union Start Their Third Review of Portugal’s Bailout Package on Wed Feb 15
- Obama Budget Plan: Obama will release his F13 budget on Mon 2/13, calling for ~$3T in deficit reductions over 10 years (inc. $1.5T worth of new tax hikes from ending the Bush rates and imposing the “Buffett Rule”)
- US Debt Problems: A former PBOC advisor said the world should be on high alert re the US gov’t’s debt problems as they could prove more serious than the current issues in Europe (DJ)
- Obama’s College Aid: President Obama on Monday will propose a $8 billion Community College to Career Fund, with the goal of training two million workers for well-paying jobs in high-demand industries, officials said http://nyti.ms/zgp1ht
- Dividends Hit Record: February is the busiest month for dividend declarations and increases, and this year, the biggest U.S. corporations may pay out a record amount, making up for some of the cash they withheld from shareholders during the financial crisis and earlier stages of the recoveryhttp://bit.ly/w87eNG
- Barclays Bonus: top shareholders are urging Bob Diamond to “tone down” his bonus payment for 2011 (London Times)
- iPad News: NY Post reports that US Air Force may buy up to 18k iPads to be used to lighten the load of flight crews
- Hedge Funds Making Moves: There have been a flurry of 13D hedge fund updates this week that we would like to highlight: Trian Fund, Marathon Asset Mang, Baupost Group, etc. http://bit.ly/xBldPL
There has been much talk in recent years about disruption and trying to pick companies that will disrupt their industries. The debate continued at the Morningstar Investment Conference as Bill Nygren of Oakmark Funds faced off with Morgan Stanley's Dennis Lynch. Q2 2021 hedge fund letters, conferences and more Persistence Morningstar's Katie Reichart moderated the Read More
- Weekly M&A Trends: This week saw some big jumps in Debt underwriting and M&A activity. Announcedinvestment banking M&A increased +22% from the prior week to $34bn, M&A volumes are still very low for the start of the year http://bit.ly/vZUMkZ
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.
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