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Stocks to Watch: Blackstone, Citigroup, UBS


Monday's top stories and stocks with potential to move...


Stocks to watch for Monday, December 10, 2007:

  • Blackstone (BX), along with a consortium which may include China's sovereign wealth fund, is reportedly looking to make a counterbid to acquire Rio Tinto (RTP). BX would look to break up some of RTP's assets if the bid goes through.
  • Cadbury Schweppes (CSG) has seen Nelson Peltz's stake increase. Peltz, through his investment vehicle Trian, and with the help of the Qatar Investment Authority, has upped his stake from 3.4% to just under 5%.
  • Citigroup's (C) board is expected to appoint the company's new chief executive this week, after Charles Prince was let go about five weeks ago. The front-runner for the position is Vikram Pandit, who currently oversees Citigroup's investment bank and alternative-investments businesses.
  • Ericsson (ERIC) said it has won an order to build networks in seven Greek cities, reported Reuters. The networks will initially link buildings such as hospitals, town hall, schools and universities.
  • Microsoft (MSFT) will begin to place ads today on its US MSN Mobile page as the company expects broad growth in the mobile phone advertising business. MSFT will be running ads from Bank of America (BAC), Paramount Pictures and Jaguar.
  • NokiaSiemans (NOK) (SI) has won an order to expand China Mobile Group Beijing's network ahead of next year's Olympics. NOK and SI's network said the extra capacity will enable CMBJ to expand the range of data services available to mobile users during the games, according to AFX News.
  • UBS (UBS), the Swiss bank, said it had two foreign investors who will add about $11.5 bln, or 13 bln Swiss francs, in capital to the company after it announced another $10 bln in write-downs on its subprime holdings. The first investor, the Government of Singapore Investment Corp., or GIC, is investing 11 billion francs while the second source is not yet disclosed but is rumored to be Abu Dhabi Investment Authority which recently invested in Citigroup (C).

Market Recap

  • Asian trading closed with the Hang Seng -1.18%, Nikkei -0.20%, Sensex -0.18%, Taiwan -1.43% and Shanghai +1.38%.
  • A quick look towards Europe finds the CAC +0.25%, DAX +0.30%, FTSE +0.01%, ATX -0.53%, Swiss Mkt. +0.60% and Stockholm +0.31%.
  • Crude oil is trading lower -0.31 to 87.97 while gold is higher +4.9 to 805.1.
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