Sorry!! The article you are trying to read is not available now.
Thank you very much;
you're only a step away from
downloading your reports.

Spotlight Stocks: Bear Stearns, Bristol-Meyers, JP Morgan, Siemans


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


Stocks to watch for Monday, March 17, 2008:

  • Bristol-Myers Squibb (BMY) is looking for potential buyers of its Mead Johnson baby formula business, valued between $7-9 billion. The company has reached out to companies such as PepsiCo (PEP), Kraft (KFT) and Heinz (HNZ).
  • Google (GOOG) said that it was concerned with the potential Microsoft (MSFT) and Yahoo (YHOO) merger as it would constrict the free flow of information on the Internet. MSFT has been criticized and charged in the past for abusing the near-monopoly power of its Windows operating system to damage competitors.
  • JP Morgan (JPM) agreed to buy Bear Stearns (BSC) for about $236 million, or $2 a share. According to Reuters, the Fed also made an emergency quarter-point cut in its discount rate and agreed to finance up to $30 billion of Bear's assets as U.S. Treasury Secretary Henry Paulson pledged the U.S. government is prepared to do "what it takes" to maintain the stability of the financial system.
  • Lehman Brothers (LEH) reassured that its liquidity position remains strong, amid fear and speculation over the status of major financials.
  • Siemans (SI) issued a profit warning on Monday after a review of major projects at three operations, including power generation, reported Reuters. The expected impact to earnings could be about $1.2 billion. The company recently reviewed its projects in its divisions for power generation, mobility, and IT Solutions and Services.

Market Recap

  • Asian trading closed with the Hang Seng -5.18%, Nikkei -3.71%, Sensex -6.03%, Taiwan -1.91% and Shanghai -3.60%.
  • A quick check of Europe finds the CAC -2.43%, DAX -3.37%, FTSE -2.53%, ATX -3.94%, Swiss Mkt. -3.44% and Stockholm -2.78%.
  • Commodities are in the green with crude oil up +0.25 to 110.46 and gold surging +23.9 to 1023.5 this morning.
< Previous
  • 1
Next >
No positions in stocks mentioned.

The information on this website solely reflects the analysis of or opinion about the performance of securities and financial markets by the writers whose articles appear on the site. The views expressed by the writers are not necessarily the views of Minyanville Media, Inc. or members of its management. Nothing contained on the website is intended to constitute a recommendation or advice addressed to an individual investor or category of investors to purchase, sell or hold any security, or to take any action with respect to the prospective movement of the securities markets or to solicit the purchase or sale of any security. Any investment decisions must be made by the reader either individually or in consultation with his or her investment professional. Minyanville writers and staff may trade or hold positions in securities that are discussed in articles appearing on the website. Writers of articles are required to disclose whether they have a position in any stock or fund discussed in an article, but are not permitted to disclose the size or direction of the position. Nothing on this website is intended to solicit business of any kind for a writer's business or fund. Minyanville management and staff as well as contributing writers will not respond to emails or other communications requesting investment advice.

Copyright 2011 Minyanville Media, Inc. All Rights Reserved.

Featured Videos