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News For JPM;CS;DELL;PENN;SHF;FLO;DVAX;SHLD From The Last 14 Days Check below for free stories on JPM;CS;DELL;PENN;SHF;FLO;DVAX;SHLD the last two weeks. |
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| May 10, 2013 |
| 09:32 EDT |  | PENN | Nevada reports March statewide gaming win up 7% to $914.78M
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| 07:14 EDT |  | SHLD | Sears Holdings volatility at low end of two-year range
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| 06:15 EDT | | DELL | Icahn reports 4.52% stake in Dell, sends buyout proposal to board
Carl Icahn disclosed a 4.52% stake in Dell as well a letter sent to the company's board offering an alternative buyout proposal. The letter stated in part, "We are a group of Dell Inc. shareholders that own in the aggregate approximately 13% of the outstanding shares of Dell Inc. From the announcement of the Agreement and Plan of Merger, dated as of February 5, 2013 we have stated repeatedly that we believe that the Going Private Transaction is not in the best interests of Dell shareholders and substantially undervalues the company. As a result, we will vote against the Going Private Transaction." The group's proposal gives shareholders the right to continue as owners and keep their existing equity position in Dell. The shareholders would also be given the opportunity to elect to receive a distribution of $12 per share in cash or $12 in additional shares valued at $1.65 per share. Icahn and Southeastern said they would both elect to receive additional shares rather than cash. Both investors said financing for their proposal would be obtained from Dell's existing cash and $5.2B in new debt. Icahn and Southeastern believe their proposal is superior to Dell's going private transaction. |
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| 06:08 EDT | | DELL | Carl Icahn discloses 4.52% stake in Dell, proposal letter to board
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| 06:03 EDT |  | DELL | Icahn, Southeastern propose alternative buyout for Dell, WSJ reports
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| May 9, 2013 |
| 18:08 EDT | | SHLD | Sears to launch lease-to-own program, AP reports
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| 17:12 EDT | | JPM | JPMorgan sued by California for "fraudulent, unlawful debt-collection practices"
Attorney General Kamala D. Harris filed an enforcement action against JPMorgan Chase alleging that the bank engaged in fraudulent and unlawful debt-collection practices against tens of thousands of Californians. The suit alleges that Chase engaged in widespread, illegal robo-signing, among other unlawful practices, to commit debt-collection abuses against approximately 100,000 California credit card borrowers over at least a three-year period. Chase used California’s judicial system as a mill to obtain default judgments, the suit alleges, using illegal tactics to flood the state’s court system in order to secure default judgments and garnish wages from Californians. Reference Link |
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| 15:20 EDT | | SHLD | Rent-A-Center down over 1% after report of Sears starting lease-to-own program
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| 15:18 EDT | | SHLD | Sears starting lease-to-own program beginning this month, DJ reports
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| 11:01 EDT | | SHLD | Sears Holdings names Jeff Balagna Chief Information Officer
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| 08:09 EDT | | JPM | JPMorgan, Bank of America had perfect trading records in Q1, Bloomberg reports
JPMorgan Chase (JPM) and Bank of America (BAC) had perfect trading records in the first quarter, making money every day of the period as Morgan Stanley (MS) posted losses in eight sessions and Goldman Sachs (GS) in two, reports Bloomberg. One daily gain at JPMorgan was over $200M as the bank recovered from last year’s London Whale derivatives loss, the company said in a regulatory filing. Reference Link |
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| 07:35 EDT |  | JPM | Platts to host a conference
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| 06:40 EDT | | JPM | Calpers to support separation of chairman, CEO roles at JPMorgan, NY Times says
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| 05:54 EDT | | DELL | Stocks with implied volatility movement; DELL BAX
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| 05:43 EDT | | JPM | Big banks take the offense against Washington, WSJ reports
The biggest U.S. banks are going on the offensive to fight off growing efforts in Washington to rein them in, reports the Wall Street Journal. They've hired longtime, influential Washington insiders to deflect regulatory and political pressure to strengthen their finances and to sell assets. Reference Link |
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| 05:39 EDT | | JPM | JPMorgan looks for more board directors for its risk committee, WSJ reports
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