Wall Street Hubbub 9/20: Kenneth Cole Could Sell to Bros Company, BHP Won't Budge on PotashCorp, Teradata Sees Action, Donald Trump Gets Axed
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Below is a run-down of today's tasty Wall Street scuttlebutt. Please consume carefully...
- Late Friday, reports from Bloomberg surfaced that Kenneth Cole Productions Inc. (NYSE: KCP) could be sold to Iconix Brand Group, Inc. (Nasdaq: ICON), which is run by the namesake's brother Neil Cole. After jumping 15% Friday, shares are slightly lower today.
- Sticking to his guns, BHP Billiton's (NYSE: BHP) CEO said the company has no intention of raising its $130/share bid for PotashCrop (NYSE: POT) despite the fact that shares are trading over $150 per share.
- Analysts at Citigroup believe Comverge (Nasdaq: COMV) is an attractive takeover target following Constellation Energy (NYSE: CEG) deal to buy CPower on Friday.
- Radware (Nasdaq: RDWR) has been volatile today after rumored suitor IBM acquired Netezza today.
- Teradata Corp. (NYSE: TDC) is up 8% today after IBM acquired Netezza today. The company is seen as the possible next takeover in the space. Other possible target include: Isilon Systems Inc. (NASDAQ: ISLN), Commvault Systems Inc. (NASDAQ: CVLT), Compellent Technologies Inc. (NYSE: CML), and Brocade (Nasdaq: BRCD).
- One of Goldman Sachs' key reasons cited in its upgrade of Wisconsin Energy Corp. (NYSE: WEC) today was the expectation of a significant dividend increase announcement in the next 3-4 months.
- Reports Bank of America (NYSE: BAC) could have job cuts of 5% in certain units in the capital markets arm.
- A scene with Donald Trump in Wall Street 2 "Money Never Sleeps" was cut by director Oliver Stone who said "it was distracting."
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