Market News: EU Bank Rescue, Moody’s Downgrade, IMF, Costco Earnings, Apple iPhone 4S, Dexia Spinoff, Yahoo Sale
Whiff of EU bank rescue ignites melt-up. News that FMs are pondering a backstop for shaky eurozone banks sparked a late-day 400 point rally in the Dow. Details of the plan are sketchy, but markets were hungry for a sign that EU diplomats are taking the unstable capital positions of their banks seriously. Much-maligned bank stocks [...]
Market News: Sealed Air, SAC, Nokia, Yahoo, Pfizer, Teva, Google, Amazon…
Sealed Air to buy Diversey for $4.3B. Sealed Air (SEE) has agreed to buy privately-held Diversey in a cash-and-stock deal worth $4.3B. Diversey is a “leading solutions provider to the global cleaning and sanitization market.” SAC facing another probe. The SEC is investigating SAC Capital for possibly using inside information to profit from AstraZeneca’s (AZN) [...]
Market News: Ashland, Goldman Sachs, Greek Aid, NYSE…
Ashland to buy International Specialty for $3.2B. U.S. chemicals producer Ashland (ASH) has agreed to buy privately held International Specialty Products for about $3.2B in cash in a bid to expand in high-growth markets such as personal care, pharmaceuticals and energy. The acquisition of ISP, which earned sales of $1.6B and EBITDA of $360M for [...]