Five Things We're Watching: March 9, 2011
Financials in focus, trading on Twitter and the rich list. Here's some of what we’re watching — and therefore you should as well.??
Billions of Reasons to Watch:Forbes releases its annual billionaires list Wednesday afternoon — the adult version of Chutes and Ladders — with Mexican Magnate Carlos Slim expected to retain his title as the world's richest man … and the Facebook kids sure to climb the ranks once more. Then again, does it really matter where you finish on the list? If you're on it, you're already pajama rich .
Toyota Changing Gears: Set your alarms! At 2:00am ET, Toyota CEO Akio Toyoda unveils the company's new 10-year plan, expected to refocus the company on growth in emerging markets, following years of long-term growth driven in the U.S. The Japanese automaker currently generates 60 percent of its profit in North America. Phil LeBeau wraps up the news all morning for you late-risers. Here's to hoping the plan involves more than just copious vehicle recalls ?.
Bank On It: The day after hearing from Bank of AmericaCEO Brian Moynihan at the company's investor meeting, more big names from the big banks on Wednesday. Our own Melissa Francis hosts a special-edition of The Call in Brooklyn from an artisanal bank that houses safe deposit boxes full of vintage craft goods. In actuality, she'll be in the borough to report on-site at JPMorgan Chase's Homeownership Center, with guests including Frank Bisignano, just appointed head of the mortgage business, Charlie Scharf, head of retail financial services and Jimmy Lee, one of the most famous investment bankers on the street. Not to be lost in the shuffle, Citigroup chief Vikram Pandit headlines their Financial Services Conference with a 12:45pm ET keynote. Plenty of good investor stories even if you, the taxpayer, no longer own these companies.?
The IPO Bill of Health: America's largest hospital chain — HCA Holdings — is expected to price after the bell Wednesday in what's poised to become the biggest private equity-backed IPO on record . The ballpark: 124 million shares for about $28.50 apiece, raising $35 billion total. And while investors might be intrigued by the offering, some analysts suggest waiting for 383 million more shares to become eligible for sale in August after the six-month lockup period wraps. HCA looks to be a winner yet again for private owners.?
?Exxon's Crude Gain: Blue chip giant ExxonMobil hosts its analyst day Wednesday with spiking oil and gas prices taking center stage. While equity markets have suffered under the circumstances, the largest publicly traded oil company is up sharply since President's Day. Erin Burnett sits down with CEO Rex Tillerson at 2:00pm ET to talk about Exxon's business, escalated crude prices and violence in the Middle East .