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Top 10 News for 02/04 - 02/08: Dell Gets 'Go Private' Bid; Investors Eye Apple's Cash; U.S. Presses S&P Ratings

February 8, 2013 4:08 PM EST Send to a Friend
1. Dell Inc. (Nasdaq: DELL) announced it has signed a definitive merger agreement under which Michael Dell, Dell’s Founder, Chairman and Chief Executive Officer, in partnership with global technology investment firm Silver Lake, will acquire Dell. Under the agreement, investors will get $13.65 per share in cash. Microsoft (Nasdaq: MSFT) kicked in a $2 billion loan to help the deal go through. For the full release, click here.

2. Activist investor David Einhorn shook up Apple stock on Thursday when he urged shareholders to vote 'no' on Apple's proposal to eliminate preferred stock. Einhorn said he found a better solution to return more value to shareholders in lieu of raising the dividend on its common shares. Given that Apple responded to the outcry, it seems like a pretty sticky topic on both sides of the aisle.

3. Monday, McGraw-Hill (NYSE: MHP) shares dropped as speculation went rampant over the U.S. Department of Justice (DoJ) potentially filing a suit against the company and its S&P Ratings Services subsidiary for ratings issued on Residential Mortgage-Backed Securities (RMBS) and Collateralized Debt Obligations (CDOs) into the financial meltdown of 2008. The DoJ issued a statement and affirmed speculation on Wednesday. Shares of McGraw-Hill ended the week much lower following the news.

4. Virgin Media, Inc. (Nasdaq:
VMED) announced an agreement Tuesday evening to be acquired by Liberty Global, Inc. (Nasdaq: LBTYA) for $23.3 billion in cash and stock. The deal was highly anticipated on Tuesday, sending Virgin shares about 20 percent higher for the session. For more color on this massive deal, click here.

5. The ExOne Company (Nasdaq: XONE) went public this week. The IPO came at a time when chatter surrounding 3D printing technology is just starting to heat up. The company is "a global provider of 3D printing machines and printed products to industrial customers," by it's own accord. There is a certain draw to being able to print your own jewelery, cell phone cover, flower vase, and so on. Whether the technology is "too new" or "too expensive" like 3D HDTV when it debuted a few years back is yet to be seen. Meanwhile, ExOne had a solid first few days on the market.

6. LinkedIn (NYSE: LNKD) issued solid fourth-quarter results and guidance on Thursday night, causing a surge in the stock Friday. Net revs rose 81 percent to $303.6 million, with net income popping 66 percent higher to $11.5 million, or 10 cents per share. After adjusting for certain one-time items EPS came in at 35 cents. The Street was looking for revs of $279.5 million and EPS of 19 cents. For more color and guidance, click here.

7. BlackBerry (Nasdaq: BBRY) had a decent week as analysts largely believed that initial sales of its Z10 smartphone in the U.K. were sold while pre-orders in Canada were also firm. Analysts were somewhat mixed on initial data points, with some saying many retailers were out while others noted a lack of supply. In any case, BlackBerry at $16 - $17 is near the same level it was this time last year. For more analyst commentary on initial sales, click here.

8. On Monday, Oracle (Nasdaq: ORCL) said it entered into an agreement to acquire Acme Packet (Nasdaq: APKT), the leading global provider of session border control technology for $29.25 per share or approximately $1.7 billion, net of Acme Packet's cash. The deal also spurred chatter of a pick-up in M&A for the tech segment. Click here

9. The United States Postal Service (USPS) said it would be halting Saturday delivery starting this August. The move is expected to save the agency billions per year as it works to stem continual losses. ""Packages will continue to be delivered six days per week. Mail addressed to PO Boxes will continue to be delivered on Saturdays," noted the USPS. "Post Offices currently open on Saturdays will remain open on Saturdays."

10. After taking a hit on Tuesday following quarterly results, Yum! Brands, Inc. (NYSE: YUM) rebounded a little later in the week to end just about flat. Management noted that it underestimated the impact of the chicken crisis in China and the reaction in the Chinese market. The company even noted that weakness in China meant that it would be unable to give a firm financial forecast. For more color on the numbers, click here.




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Greenlight Capital, David Einhorn, Standard & Poor's, Michael Dell, Dividend, Earnings

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