Market News: AIG, HSBC, Toyota, Disney, Google…
Government and AIG lower sale expectations. The Treasury and AIG (AIG) hope to sell about $9B worth of shares in the insurer’s upcoming offering, near the bottom end of a range envisioned at $7B-$25B, sources said. The low expectations follow a slump in AIG’s share price to $29.62 yesterday from $50 in January. The government’s [...]
Market News: Nasdaq OMX, Sony, Apple, Google…Bin Laden Dead
U.S. gets three more weeks to avoid default. The Treasury will begin to take ‘extraordinary measures’ on Friday that, along with better-than-expected tax revenues, will extend by three weeks the date at which the U.S. will hit its $14.29T debt ceiling. Despite the measures, which include suspending the sale of bonds to finance state and [...]
Market News: DJIA, SPX Hit New Highs After FOMC Decision; GE Leads Dow Gainers
J&J to buy Synthes for $21.3B. In what will be the biggest acquisition in its 125-year history, Johnson & Johnson (JNJ) has agreed to buy Swiss-U.S. medical devices maker Synthes for $21.3B in cash and stock. Synthes holders will receive 159 Swiss francs ($181.68) a share – 8.5% above yesterday’s closing price – comprising 55.65 [...]