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News Breaks | | | | January 16, 2013 | | 06:43 EDT |  | CLRO, MS, UBS | ClearOne settles with UBS Financial Services for $45M
ClearOne (CLRO) previously reported in its periodic filings that it expected resolution by the end of 2012 of two pending arbitration matters concerning auction rate securities sold to ClearOne by Morgan Stanley & Co (MS) and UBS Financial Services (UBS). ClearOne has determined the outcome of both matters, involving substantially identical claims against two different parties, effective January 14. With respect to the Morgan Stanley arbitration, the arbitration panel denied ClearOne's claims in their entirety. With respect to the UBS arbitration under a different panel ClearOne has settled its dispute for a total amount of $45M, effective December 10, 2012. The settlement agreement was subject to a confidentiality provision pending resolution of the Morgan Stanley arbitration matter described immediately above. The settlement award is subject to a 15% contingency legal fee payable to ClearOne's litigation counsel. The UBS settlement proceeds have been held in a trust account pending resolution of the Morgan Stanley matter and will be disbursed to ClearOne shortly, with interest, less the contingency fee paid to ClearOne's legal counsel. | |
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News For CLRO;UBS;MS From The Last 14 Days Check below for free stories on CLRO;UBS;MS the last two weeks. |
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| May 23, 2013 | | 06:29 EDT |  | UBS | Software firm Luxoft files for IPO in New York, Bloomberg reports
 Subscribe for More Information | | | May 22, 2013 | | 13:04 EDT | | UBS | UBS to face whistle-blower suit brought by strategist, Bloomberg says
Subscribe for More Information | | | 13:02 EDT | | MS | Morgan Stanley seeks $4B for infrastructure fund, Bloomberg reports
Morgan Stanley's infrastructure investment unit is planning to raise $4B for a second global fund, according to Bloomberg, citing sources. Morgan Stanley and other investment firms are targeting billions of dollars worldwide earmarked for public infrastructure projects, Bloomberg added. Reference Link | | | 10:00 EDT |  | UBS | On The Fly: Analyst Downgrade Summary
Subscribe for More Information | | | 09:02 EDT |  | MS | Financials upgraded to Overweight from Market Weight at Wells Fargo
Wells Fargo believes that financials' earnings continue to be the strongest of any sector in the S&P 500. The firm thinks that the sector's stocks appear to be breaking out from a technical standpoint. Citigroup (c) and Ameriprise Financial (AMP) are on the firm's priority list. | | | 05:43 EDT | | UBS | UBS downgraded to Underperform from Market Perform at Keefe Bruyette
| | | May 21, 2013 | | 15:23 EDT | | UBS | UBS downgraded to Underperform from Market Perform at Keefe Bruyette
Subscribe for More Information | | | 07:13 EDT | | MS | U.S. bank mergers less likely this year, Bloomberg reports
Subscribe for More Information | | | 07:12 EDT | | MS | Credit Suisse now second largest Asia prime broker, Reuters reports
The Asian prime brokerage unit of Credit Suisse (CS) replaced Morgan Stanley (MS) as the second largest firm servicing the region's $148B hedge funds industry, according to a survey by AsiaHedge. Goldman Sachs (GS) remains Asia's top prime broker with 179 clients and total assets under management of $24.6B, reports Reuters.Reference Link | | | 06:10 EDT | | MS | On the Fly: Periodicals Wrap-Up
WALL STREET JOURNAL: JPMorgan Chase (JPM) plans to shake-up of its board even if every director wins re-election at today’s shareholder meeting and James Dimon keeps his dual job as chairman and CEO, the Wall Street Journal reports...Mutual-fund firms are joining activist investors in getting more aggressive over demands for change in how board members are paid at U.S. companies. Activist investors have been experimenting more frequently with incentive pay packages for the board members they nominate in proxy fights, the Wall Street Journal reports...REUTERS: Specialty chemicals producer Rockwood Holdings’s (ROC) pigments businesses have attracted offers from buyout firms including Blackstone Group (BX) and Advent International, sources say, Reuters reports...The Asian prime brokerage unit of Credit Suisse (CS) replaced Morgan Stanley (MS) as the second largest firm servicing the region's $148B hedge funds industry, according to a survey by AsiaHedge. Goldman Sachs (GS) remains Asia's top prime broker with 179 clients and total assets under management of $24.6B, Reuters reports...BLOOMBERG: Bank managers in the U.S. are less likely to engage in mergers and acquisitions this year as regulators heighten scrutiny on potential deals and sellers wait for higher valuations, according to a KPMG survey, Bloomberg reports...PIMCO’s Bill Gross says the bull market for bonds may have ended last month. But investors are staying put. Four years into the biggest rally in U.S. stocks since 2000, bond mutual funds are attracting more money than their equity counterparts, Bloomberg reports. | | | | May 20, 2013 | | 08:15 EDT | | MS | Morgan Stanley to sell Indian unit to Standard Chartered, Reuters reports
Subscribe for More Information | | | 08:12 EDT | | UBS | UBS names Sylvia Coutinho as CEO of UBS Group Brazil
Subscribe for More Information | | | 07:42 EDT |  | UBS | Cohasset Associates to host a conference
National Conference on Managing Electronic Records is being held in Chicago on May 20-22. | | | May 16, 2013 | | 18:49 EDT | | MS | Senior holders may face first CMBS losses since crisis, WSJ reports
Subscribe for More Information | | | 12:32 EDT |  | UBS | EU bank stress test delayed until 2014 by regulator
The EBA agreed on recommendations to supervisors to conduct asset quality reviews on major EU banks. While banks’ capital positions were significantly strengthened under the EBA’s recapitalisation exercise, the objective of the asset quality exercises will be to review banks’ classifications and valuations of their assets so to help dispel concerns over the deterioration of asset quality due to macroeconomic conditions in Europe. Since appropriately reviewed balance sheets are a key input to an effective stress test, the EBA has also adjusted the timeline of the next EU-wide stress test so to conduct the exercise in 2014 once the asset quality reviews are completed. However, to ensure transparency and comparability over the years, the EBA will provide, in 2H, appropriate disclosure on the actual exposures of the EU banking sector. Reference Link | | | 06:41 EDT | | MS | Big banks to benefit from U.S. concession on derivatives, NY Times says
Subscribe for More Information | | | May 15, 2013 | | 17:26 EDT | | MS | Third Point gives quarterly update on stakes
NEW STAKES: Virgin Media (VMED), Tiffany (TIF), B/E Aerospace (BEAV), Anadarko (APC), and Thermo Fisher (TMO). INCREASED STAKES: International Paper (IP), Abbvie (ABBV), TransDigm (TDG), Constellation Brands (STZ), and Dollar General (DG). DECREASED STAKES: Delphi (DLPH), Murphy Oil (MUR), AIG (AIG), LyondellBasell (LYB), and Liberty Global (LBTYA). LIQUIDATED STAKES: Tesoro (TSO), Morgan Stanley (MS), Symantec (SYMC), Herbalife (HLF), and Illumina (ILMN). | | | 17:03 EDT | | MS | Soros gives quarterly update on stakes
NEW STAKES: MeadWestvaco (MWV), Brocade (BRCD), Red Hat (RHT), Liberty Global (LBTYK), and VMware (VMW). INCREASED STAKES: Google (GOOG), Liberty Global (LBTYA), EQT Corp (EQT), Charter (CHTR), and US Airways (LCC). DECREASED STAKES: Citigroup (C), AIG (AIG), Apple (AAPL), Invesco (IVZ), and Motorola Solutions (MSI). LIQUIDATED STAKES: JPMorgan (JPM), General Electric (GE), CF Industries (CF), Morgan Stanley (MS), and Capital One (COF). | | | 12:12 EDT | | MS | Morgan Stanley price target raised to $36 from $30 at CLSA
Subscribe for More Information | | | May 14, 2013 | | 14:44 EDT |  | MS | Morgan Stanley hits close to multi-year highs, levels to watch
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