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Everquest Financial, which has ties to troubled hedge funds run by Bear Stearns, has called off a planned initial public offering, CNBC's Charles Gasparino reported, citing people familiar with the matter. Everquest was formed in May by several Bear Stearns executives and it filed for a IPO shortly afterward.
The problems facing two Bear Stearns hedge funds were triggered by a small markdown in some of the funds' holdings, which became amplified because of the funds' massive borrowing, market sources have told CNBC.
Risk has not dampened demand for deals, says Steven Costabile, managing director at AIG Global Investment Group. He and Tim Backshall, chief credit derivatives strategist at Credit Derivatives Research, told "Power Lunch" viewers to expect more mergers and acquisitions in the foreseeable future.
The Dow's record run hits a speed bump and the S&P 500 can't hold a new record high as worries about the economy and interest rates surface.
A U.S. District Judge might have denied NASCAR's request to stay an injunction that allowed the Cingular logo on Jeff Burton's car to be replaced with an AT&T logo, but NASCAR got a victory yesterday when Alltel agreed to a $25 billion private equity buyout. Let's go back and put this in context for you. NASCAR obviously did not want the AT&T brand on the track because it wasn't one of the brands that were grandfathered in when the governing body signed a 10-year, $700 million deal with Nextel to be the official telecommunications company of NASCAR. But consolidation in this industry is very common -- Sprint soon bought Nextel and AT&T bought Cingular.
The guys go behind the headlines and give you their take on... AIG's technical double top... speculation that OXPS is a takeover target ... and more. Find out where they see fast money.
Cramer called two of the latest: aQuantive and Alltel. Here's the name he thinks is next on the list.Investing can be confusing. Luckily, Cramer has mapped out some road rules for all you Home Gamers trying to navigate the jungle that is Wall Street. Think of it as "Mad Money 101" –- some fundamental advice to keep in mind as you play the market. Whether you're a first time investor or a seasoned financier, it's always good to remember the basics.
Stocks ended mixed as the S&P 500 failed to hold above its previous record, despite another busy day of mergers and acquisitions activity. "Everyone knew that the S&P was going to reach its old record but clearly there is resistance there," said Stephen Porpora, managing floor broker at William O'Neil.
TPG Capital and Goldman Sachs Partners are teaming up to buy wireless phone carrier Alltel for $71.50 per share. The news of the Alltel buyout is also driving up the shares of other domestic, rural wireless carriers. Christoper Larsen, analyst at Credit Suisse, appeared on “Morning Call” to discuss other possible wireless carriers stirring private-equity interest.
Shares in rural wireless provider Alltel surged more than 6% on Monday after it agreed to a $25 billion buyout by TPG Capital and the buyout arm of Goldman Sachs in one of the largest-ever private equity deals for a wireless carrier. The agreement closed months of speculation over a possible deal for Alltel, but questions were raised over the bid process.
M&A news and drug trial updates provided some of the catalysts behind the most actively traded stocks on Monday.
Mergers and acquisitions are headed for another record year, fueled by a seemingly endless cascade of private-equity money. “I can’t think of anything that’s off limits,” says Michael Kelly, managing director at Hamilton Lane. "There are good companies in any industry."
Analyst upgrades and earnings reports were some of the catalysts behind the most actively traded stocks on Wednesday.
At least three groups of private-equity buyers have formed to pursue a potential purchase of wireless carrier Alltel, according to media reports.
U.S. rural wireless telecoms service provider Alltel is being pursued by at least three groups of private-equity buyers about a potential purchase, the Wall Street Journal said on its Web site on Wednesday.
Tonight, it's all about telco on Mad Money, and Cramer thinks he's found a small wireless provider that might be offering itself up as an acquisition target.Investing can be confusing. Luckily, Cramer has mapped out some road rules for all you Home Gamers trying to navigate the jungle that is Wall Street. Think of it as "Mad Money 101" –- some fundamental advice to keep in mind as you play the market. Whether you're a first time investor or a seasoned financier, it's always good to remember the basics.
Alltel has stepped up efforts to sell itself to carriers such as AT&T, Verizon Communications and Sprint Nextel, said people familiar with the matter, as the Little Rock, Ark.-based wireless company tries to chart a new future, The Wall Street Journal reported.