StreetInsider.com Morning Movers
SIRIUS XM Radio Inc. (Nasdaq: SIRI) 38% LOWER; Reports SIRI is Working On A Bankruptcy Filing
Research In Motion (Nasdaq: RIMM) 16% LOWER; update on its Q4 subscriber forecast and financial outlook. The stock is currently trading around $50.15, down more than 12% from yesterday's close. Research In Motion said that, despite an expected 20% jump in net subscriber account additions, it expects to report Q4 gross margins and EPS at the low end of the company's previously issued guidance. The BlackBerry maker also reaffirmed its Q4 sales outlook.
Great Plains Energy (NYSE: GXP) 21% LOWER; reports Q4 EPS of $0.08, ex-items, versus the analyst estimate of $0.24. Lowers its FY09 EPS guidance from $1.30-$1.60 to $1.10-$1.40, versus the consensus of $1.44. Cuts Qtr. Dividend by 50% to $0.2075/Share
Ingersoll-Rand (NYSE: IR) 14% HIGHER; reports Q4 ...
StreetInsider.com has put together its 'Top 15 For 2008' which chronicles our view of the most significant news on Wall Street during the tumultuous year.
Number 14: M&A Wreckage
With the turmoil in the credit markets, 2008 was a horrible year for mergers and acquisitions. Not only were new deals not getting done, deals that were already announced were falling apart left and right. Dealogic said global deal volume was down 29% from a record 2007. Of the deals that did get done, some were fire-sales including Bank of America's (NYSE: BAC) buyout of Merrill Lynch (NYSE: MER) and Wells Fargo's (NYSE: WFC) buyout of Wachovia (NYSE: WB).
Some of the biggest M&A blow-ups in 2008
- The mega-takeover of BCE Inc. (NYSE: BCE) was cancelled.
- The most famous deal that didn't get done in 2008 was from laughingstock Yahoo! (Nasdaq: YHOO). Yahoo! turned down a $31 per share deal ...
