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Stock Market & Financial Investment News

News Breaks
May 15, 2014
11:05 EDTBX, DBDeutsche Bank agrees to sell Cosmopolitan of Las Vegas for $1.73B
Deutsche Bank (DB) announced that it has reached an agreement with Blackstone (BX) Real Estate Partners VII to sell Nevada Property 1 LLC, the owner of The Cosmopolitan of Las Vegas. Under the transaction, Blackstone Real Estate Partners VII will acquire 100% of The Cosmopolitan of Las Vegas for $1.73B, which will be paid in cash. The transaction is subject to regulatory approvals. The sale will have a net positive impact on the Bank's CRD4 pro-forma fully loaded common equity tier 1 ratio of approximately five basis points upon closing of the transaction.
News For DB;BX From The Last 14 Days
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October 2, 2015
07:15 EDTBXBlackstone's Gray: Bearish market to lead to REIT takeovers, Bloomberg says
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October 1, 2015
19:15 EDTBXJPMorgan preparing $18B bid for U.K. mortgage pool, Bloomberg says
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14:14 EDTDBDeutsche Bank upgraded to Market Perform from Underperform at Keefe Bruyette
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13:37 EDTBXBerry Plastics completes purchase of AVINTIV for $2.45B
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09:04 EDTDBRREF Property Trust expands portfolio with student housing acquisition
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08:03 EDTBXBlackstone completes spin-off of PJT Partners
Blackstone (BX) and PJT Partners (PJT) announced the successful completion of the previously announced spin-off of Blackstone's financial and strategic advisory services, restructuring and reorganization advisory services and Park Hill Group businesses, which have been combined with PJT Capital LP, a global independent financial advisory firm founded by Paul J. Taubman, to form an independent, publicly traded company called PJT Partners. Blackstone common unitholders of record as of the close of business on September 22, 2015 received one share of Class A common stock of PJT Partners for every 40 common units of Blackstone held on the record date. The spin-off has been structured to be tax-free to Blackstone's common unitholders for U.S. Federal income tax purposes, except to the extent of any gain or loss recognized by a common unitholder as a result of any cash received in lieu of fractional shares. Common unitholders are urged to consult their tax advisors with respect to U.S. federal, state, local and non-U.S. tax consequences of the spin-off.
08:00 EDTDBSecurity Traders Association to hold a conference
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September 29, 2015
12:12 EDTDBAB InBev taps BofA, Santander for SABMiller offer financing, Bloomberg says
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September 28, 2015
18:45 EDTDBAnalyst predicts Deutsche Bank will cut 10K jobs, Telegraph says
JP Morgan analyst Kian Abouhossein believes Deutsche Bank CEO John Cryan will announce plans to "cut expenses at the bank by at least EURO$2.5B by 2018, chop 10,000 staff and cut back on 10,000 of the external consultants paid for by the group," according to the Telegraph. Reference Link
06:20 EDTDBCOMCO probing UBS, Julius Baer for metals market price fixing, AFP reports
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September 25, 2015
10:58 EDTBXBlackstone management to meet with Jefferies
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September 23, 2015
16:34 EDTBXOn The Fly: Top stock stories for Wednesday
Stocks began the day in quiet fashion and remained that way during the first hour of trading. Following the release of the weekly energy inventory report, the averages moved lower and looked to be possibly setting up for another selloff. Positive comments on China's economy by its President, who is visiting the U.S., brought out buyers, who pared the market's losses. The averages finished slightly in the red in a day marked by low volume as a number of market participants may have been absent in observance of the Jewish holiday of Yom Kippur. ECONOMIC EVENTS: In the U.S., Markit's flash manufacturing purchasing manager's index was flat at 53.0 in September, which was slightly better than the expectation for it to dip to 52.8. EIA inventory data showed a 1.93M barrel fall in crude oil inventories, versus expectations for a weekly drawdown of 1.25M barrels. In China, Markit's flash manufacturing PMI fell to 47.0 in September from 47.3 last month. In Europe, Markit's composite PMI for the eurozone came in at 53.9 in the first look for September, down from 54.3 in August and below expectations for a reading of 54.1. COMPANY NEWS: Shares of Volkswagen (VLKAY) trading in New York rebounded 6.5% to $27.10 following the resignation of Chief Executive Officer Martin Winterkorn, with the company's supervisory board subsequently praising the decision and saying it will consider his replacement at a meeting Friday. Prior to the CEO change news, the stock was downgraded at research firms JPMorgan, Deutsche Bank and Natixis to hold or equivalent ratings this morning. Accounting for today's advance, U.S.-listed shares of Volkwagen are still down nearly 29% since last Friday, when the EPA publicly accused the automaker of equipping certain diesel cars sold in the U.S. with software that circumvented emissions standards... Against the backdrop of China's President Xi Jinping visiting the U.S., Boeing (BA) announced deals to sell 300 planes to three Chinese companies and set up an aircraft factory in China. The deals are possibly worth tens of billions of dollars in total and represent the largest total order the planemaker has received from Chinese companies, according to Reuters. The Wall Street Journal reported, citing people familiar with the matter, that Cisco (CSCO) plans to announce a partnership with Chinese server maker Inspur Group during President Xi Jinping's visit. MAJOR MOVERS: Among the notable gainers was First Niagara (FNFG), which advanced $1.30, or 14.5%, to $10.26 following a Bloomberg report that the company is exploring a sale. DealReporter noted that potential suitors include Toronto-Dominion Bank (TD), Huntington Bancshares (HBAN) and New York Community Bancorp (NYCB). BioMed Realty (BMR) gained $2.36, or 12.3%, to $21.54 after Bloomberg reported that the company is in talks to sell itself and has attracted attention from firms including Blackstone (BX). Heron Therapeutics (HRTX) rose $7.25, or 21.6%, to $40.81 after announcing that its Phase 2 study of HTX-011 for post-operative pain met its primary endpoint. Shares of a competitor Pacira (PCRX) declined 7.65% after the news, with several analysts remarking that Heron's data compares favorably versus Pacira's Exparel drug. Summit Midstream Partners (SMLP) declined $3.90, or 18.2%, to $17.52 following a Bloomberg report that Energy Capital Partners is seeking to sell its stake in the company. Synchronoss (SNCR) fell 10.75% to $33.37 after research firm Baird said it has become "increasingly concerned" that Verizon (VZ) is "no longer fully committed" to the white-label cloud product it offers in conjunction with the cloud services provider. INDEXES: The Dow fell 50.58, or 0.31%, to 16,279.89, the Nasdaq lost 3.98, or 0.08%, to 4,752.74, and the S&P 500 declined 3.98, or 0.2%, to 1,938.76.
10:24 EDTBXBioMed Realty surges after report of exploring sale
Shares of BioMed Realty Trust (BMR) are surging in morning trading following a Bloomberg report that said the company is in talks to sell itself. WHAT'S NEW: BioMed Realty Trust, a San Diego-based real estate investment trust with a market value of $3.9B, is exploring a sale, Bloomberg reported last night. According to sources, the company, which went public in 2004, has hired Morgan Stanley (MS) to explore a potential deal. WHAT'S NOTABLE: Bloomberg reported that BioMed Realty has attracted interest from firms including Blackstone Group (BX), explaining that buying REITs is a way for buyers like the private equity firm to put large amounts of cash to work. One source notes that talks remain ongoing and there is no guarantee a deal will be finalized. In July, Blackstone finalized an agreement to acquire shopping center REIT Excel Trust (EXL). ANALYST TAKE: Canaccord upgraded BioMed Realty to Buy from Hold following the Bloomberg report and raised its price target to $23 from $21. Analyst Paul Morgan said the M&A report highlights BioMed's "discounted" valuation to peers, reducing the emphasis on near-term earnings issues of asset sales and lease terminations. Morgan said the firm's preliminary $25 takeout valuation "could prove conservative" in case the M&A process is "competitive." Blackstone and other private equity players, Morgan said, have the "capacity" to look beyond short-term earnings challenges to extract value from REITs. PRICE ACTION: BioMed Realty Trust is up 11.7% to $21.42 in morning trading.
06:23 EDTBXBioMed Realty Trust in talks to sell itself, Bloomberg reports
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September 22, 2015
15:15 EDTBXBlackstone ends pursuit of NCR Corp., NY Post says
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15:08 EDTBXBlackstone ends talks to buy NCR Corp., NY Post says
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September 21, 2015
12:03 EDTBXBlackstone funds to acquire ISD
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