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: Merrill Lynch, Motorola, PHH Corp.


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


Stocks to watch for Wednesday, January 2, 2008:

  • Commerce Bancorp (CBH) has sold its Commerce Insurance Services unit to a group led by Commerce Insurance Services' Chairman George E. Norcross and President Michael Tiagwad. Financial terms of the deal were unavailable.
  • Merrill Lynch (MER) is trying to raise extra capital to help fight liquidity concerns amid 2007's credit losses by entering into discussions with Chinese and Middle Eastern sovereign wealth funds.
  • Motorola (MOT) has settled its outstanding patent infringement disputes with Metrologic Instruments. The companies agreed to enter into a patent cross-license for a limited term in the field of barcode scanning and mobile computing.
  • PHH Corp. (PHH) announced that its pending deal to be taken over by Blackstone (BX) and a unit of General Electric (GE) for $1.7 bln had past its deadline to complete and has been terminated. Blackstone, which now owes PHH a $50 mln break-up fee, could not come up with proper funding in time.
  • Qualcomm (QCOM), according to a ruling by U.S. District Judge James Selna, will be required to pay royalties to Broadcom (BRCM) for cellphone chips it sells that infringe on three patents. QCOM will be able to sell the chips, with royalties to BRCM through January 2009.
  • Vonage (VG) has entered into a limited cross-license with Nortel Networks (NT) regarding three Vonage and three Nortel patents. There are no financial terms involved.

Market Recap

  • Asian trading closed with the Hang Seng -0.91%, Sensex +0.81%, Taiwan -2.15% and Shanghai +0.21%.
  • A quick check towards Europe finds the CAC +0.65%, DAX +0.01%, FTSE +0.71%, ATX +0.62%, Swiss Mkt. -0.40% and Stockholm +0.02%.
  • Crude oil is trading higher +1.38 to 97.36 and gold is also surging +9.2 to 847.2 this morning.
< Previous
  • 1
Next >

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