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.

Stocks to Watch: GlaxoSmithKline, Legg Mason, Macy's

By

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

PrintPRINT

Stocks to watch for Monday, December 31, 2007:

  • Delta Petroleum (DPTR) is seeing Kirk Kerkorian's Tracinda Corp. take a 35% stake in the company, or $684 mln, purchasing shares at a 23% premium to Friday's closing price, reported the Wall Street Journal. 36 mln shares will be bought at $19 a share.
  • GlaxoSmithKline (GSK) and AstraZeneca (AZN) are being probed by the United Kingdom's Serious Fraud Office in relation to charges of bribes paid to Saddam Hussein. The company's may have been involved in breaches of the UN's oil-for-food program which was designed to help Iraq pay for humanitarian needs.
  • Legg Mason (LM) cut its exposure to structured investment vehicles to 3.2% of its total liquidity assets. The company will reduce holdings of securities issued by certain asset-backed commercial paper issuers held by two of its non-U.S. liquidity funds, reported MarketWatch.
  • Macy's (M), within the next few weeks, plans to close nine of its stores due to underperformance. This includes three stores in Ohio, two in Texas, and one in Louisiana, Oklahoma and Utah.
  • Mariner Energy (ME) has purchased the assets of Spraberry and StatoilHydro ASA for $365.5 mln in a cash deal. The focus of the deal was StatoilHydro's Gulf of Mexico assets.


Market Recap

  • Asian trading closed with the Hang Seng +1.62%, Sensex +0.40% and Taiwan +1.30%.
  • A quick check towards Europe finds the CAC -0.39% and the FTSE -0.68%.
  • Crude oil is trading higher +0.08 to 96.08 while gold is lower -4.4 to 838.3 this morning.

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.

PrintPRINT
 
Featured Videos

WHAT'S POPULAR IN THE VILLE