MID-DAY DEAL ROUND-UP
A123 Systems, a Massachusetts maker of lithium-ion batteries filed today for a $175 million IPO, despite a week that has seen three more IPOs struggle. China Mass Media International Advertising started the week off by halving its IPO, then Rhino Resources, a coal company, pulled its IPO on Thurday. And on Friday morning, Rackspace […]
Posted on August 11th, 2008 by
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The great auction-rate securities blood-letting banks have begun might well fill the bath if a lawsuit from Europe’s largest computer chip maker against Credit Suisse taps a legal vein. STMicroelectronics says the bank placed $450 million of its cash into auction-rate securities without authorization, and that there’s a lot more where that came from. “At […]
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Is silver-haired media investor Mario Gabelli playing matchmaker?
In an interview, he says that it’s about time Cablevision get down to business and hook up with Time Warner Cable. Gabelli, who runs hedge fund Gamco Investors, a top Cablevision shareholder, tells Bloomberg the family run cable operator and networks company should be “making love with Time Warner Cable.”
Gabelli’s proposal goes much […]
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Citi’s warm embrace of auction-rate securities has come back to haunt it. The bank, by far the largest underwriter of auction rate munis, a major subset of ARS’s, today agreed to buy back more than $7 billion worth of ARSs,and pay $100 million in fines. Other banks facing accusations of fraudulent marketing of the now […]
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By most accounts, the sovereign wealth funds of Asia are licking their burnt fingers after picking up big stakes in sickly U.S. financials. So we read with interest a report in the NY Post that Lehman Brothers CEO Dick Fuld has held talks with South Korean and other Asian investors about possibly raising more capital. […]
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A few months ago, many Internet companies hallucinated that online ad sales would be impervious to economic weakness. They haven’t been. Still, online ads are doing vastly better than newspapers, TV, and other old media, and Todd Harrison of Minyanville.c
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Stocks are strong again after last week’s sharp gains, including a 300-point move in the Dow on Friday. The key question is whether this is just another sucker’s rally. …
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Americans are still buzzing about the U.S. men?s upset over France in the 400-meter relay. But other international headlines are potentially bad news.On the oil front, fighting has broken out between Georgia and Russia, a key global supplier of oil. While
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