is enjoying a new career in health care
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
SQNM (link back for chart) Still moving up, would love to see it fill that gap!
DPTR breaking through the HOD again
Sold about the same time Nate did- nice am pop
EROC (Link back for chart)-I think it's formed the base- will look to take an initial position tomorrow
What's your opinion Fringe?
Great minds think alike I was just looking up the M/A info
Qiagen NV (QGEN) and Sequenom, Inc. (SQNM)
Date: May 09, 2009
Abstract
Revere Data's Merger & Acquisition Scenario Report offers independent, objective and insightful analysis into a hypothetical combination of Qiagen NV (QGEN) with Sequenom, Inc. (SQNM) . The Revere report begins by identifying Qiagen NV products that are either complementary or overlapping to Sequenom, Inc. products. Qiagen NV suppliers are then displayed alongside Sequenom, Inc. suppliers, with overlapping suppliers to both firms highlighted. Dependent suppliers to both companies are also displayed, including the percentage of dependent revenue if known. Top Qiagen NV customers and top Sequenom, Inc. customers, including overlapping customers, are also shown. The Revere report then includes key business relationship data in the area of strategic partnerships for each company. Additional content and features include Lines of Business Summaries, Product Summaries, Individual Qiagen NV Product Line and Sequenom, Inc. Product Line Details, Qiagen NV Earnings and Sequenom, Inc. Earnings Summaries, and pro forma financial statements. Revere Data Merger & Acquisition Scenario Reports are an essential source of competitive insight into an array of potential merger, acquisition, takeover, consolidation, rollup or other combination scenarios, with particular focus in the healthcare, biotechnology, information technology, finance and media sectors. Revere's extensive databases on key business relationships, product lines, focused sectors, and financial performance indicators provide a rich and integrated information source for investment banking, corporate finance, C-level executives, management consultants, marketing, and business intelligence professionals who want actionable answers and ideas in seconds.
I agree Lang I saw a chance to grab it in the 2s and refused to chase for fear of EOD sell-off
Exactly the reason I held onto all of my positions- considering the -173 market close my positions did really well and stayed neutral without loss
SQNM- Decided to hold overnight as it appears that this run is just beginning to gain momentum
I'm using Fidelity....Active Trader Pro- it's not normally slow to fill
Wish I would have gotten more but it was difficult to fill and had to switch from a limit to a market order... my other positions were relatively flat today so tomorrow should be a good day
Our accounts should look NICE in the am if it gaps really hard~
I got my entry on one of the dips today!
GNTA Just saw a flurry of large buy orders go through at the ask 500K, 800K, 1m and so on
SQNM Volume coming in could break through previous HOD
SQNM $3.42 x $3.43 trying to surge back up toward that HOD
10-day 15min MACD curled over but other indicators looking good
Profit takers from this am and MMs bringing it down on lighter volume....
You bought in on the same dip I did.... but I only got filled @ $3.38
SANM hitting .69 -still trending up for the day
Update SANM looking good-link back for fringe chart
General Motors Corporation and United Auto Workers Reach an Agreement to Reduce the Failing Auto Giant's $20 Billion Retiree Medical Obligations 05/22 06:49 AM
General Motors Corporation (GM:$2.03,00$0.11,005.73%) , union leaders and the Treasury Department have reached an agreement to reduce the failing auto giant's $20 billion retiree medical obligations. The United Auto Workers announced the settlement, which the Journal reported is a linchpin of the automaker's plans to restructure its finances. GM wanted a deal that would cut in half its $20 billion cash obligation to the retiree medical trust. In exchange, the UAW would get a 39%equity stake in the automaker. GM faces a June 1 deadline imposed by the Obama administration to restructure its finances, get concessions from unions and debt holders and slash dealerships. If the automaker cannot meet all of the terms, it will be forced by the government to enter Chapter 11 bankruptcy protection.
General Motors Corporation (GM:$2.05,00$0.13,006.77%) , union leaders and the Treasury Department have reached an agreement to reduce the failing auto giant's $20 billion retiree medical obligations. The United Auto Workers announced the settlement, which the Journal reported is a linchpin of the automaker's plans to restructure its finances. GM wanted a deal that would cut in half its $20 billion cash obligation to the retiree medical trust. In exchange, the UAW would get a 39%equity stake in the automaker. GM faces a June 1 deadline imposed by the Obama administration to restructure its finances, get concessions from unions and debt holders and slash dealerships. If the automaker cannot meet all of the terms, it will be forced by the government to enter Chapter 11 bankruptcy protection.
I got my tickets to the party 10,000 of them!
GM $2.20 surging out of the gate
Exactly....this market truly has been torn between positive/negative sentiment
GM Breaking through the 2$ barrier
The WaMu seizure and sale was one of the biggest scams in history and will be remembered as Enron part 2 for us ex-employees... JPMC deserves to crash and burn
CA... home of the 9%+ sales tax, 9%+ income tax, DMV fees that just doubled ($1400 a yr registration for a 40K vehicle) and of course the earth quakes....I just moved from CA and escaped all of those tax/dmv $$ increases -NO state is nice enough to pay almost 20% of my wages
Burn shorts burn..... but not after I get an entry on a dip during PM tomorrow
Given the magnitude of the Govt investment funds I would 'guess' (since none of us truly understand why they take some actions) that they are attempting to encourage the bond holders to settle, since it's better for the Govt to keep GM viable and running (return the $ from govt loans) and of course keeping GM operating provides continued business for parts, technology and materials companies. The Govt does NOT want to bear the brunt of the bankruptcy or loss of their loan $$
It's truly difficult to 'accurately' speculate the govt. motives, actions and reasoning....but I wouldn't loan money to an entity expected to go into bankruptcy within a short time-frame...
just my opinion
BankUnited changes ownership [The Miami Herald] 05/21 10:10 PM
May 22--Without missing a beat, BankUnited will reopen this Friday morning with a new owner and a whole lot more capital.
Dozens of federal regulators swept in to BankUnited's offices in Coral Gables Thursday afternoon after the close of business and seized the teetering thrift, capping a yearlong odyssey to revive the $13-billion asset institution.
New York banker John Kanas and a group of private equity firms won a bidding contest to acquire BankUnited in a sale run by the Federal Deposit Insurance Corp.
BankUnited, the largest financial institution based in Florida, will reopen all 85 branches for regular business hours Friday morning under the new ownership.
"Tomorrow it will be business as usual," said Kanas, the new CEO who envisions building the freshly capitalized institution into a dominant banking force in Florida. "All the branches will be open and operating as normal."
BankUnited, dragged down by risky home mortgages that fizzled in the housing downturn, is the largest bank to succumb to loan losses this year and the third largest in assets to fail in the current downturn after IndyMac and Washington Mutual.
The collapse of the thrift will cost the FDIC insurance fund an estimated $4.9 billion. In the current downturn, only the IndyMac failure cost the FDIC fund more, with a hit of $11 billion.
All customers' deposits are safe at the new institution, which will keep the BankUnited name. BankUnited's shareholders, however, aren't so lucky: Their equity is likely wiped out.
BankUnited Financial Corp. (BKUNA:$0.4922,$-0.0518,-9.52%) , the parent company which has about $550 million in debt, filed for bankruptcy-court protection to provide a process to pay off creditors.
As federal seizures go, BankUnited turned out to be a low-key affair. It offered none of the spectacle of the 1990 collapse of notorious CenTrust Savings Bank, where regulators marched into the downtown Miami tower and lit it up in red, white and blue.
Instead, a team of luggage-laden regulators from the Office of Thrift Supervision and the FDIC strolled in to the headquarters at 255 Alhambra Circle in small groups over the late afternoon and evening hours. The most visible evidence of a seizure was a group of armed security guards waiting in cars outside.
In the penthouse, the regulators met cordially with CEO Ramiro Ortiz, who has been working closely with the Office of Thrift Supervision and the FDIC for months to find fresh capital for the thrift. Ortiz, who was nursing a cold, signed more papers than a typical home buyer taking out a mortgage.
"The real theme here is we have a recapitalized brand new bank," said Ortiz. "Nothing changes here except we've got a lot of capital."
Ortiz, a former SunTrust executive who joined the bank six years ago and became CEO last October, plans to stay on at BankUnited and work with Kanas. "Ramiro will be crucial to me in getting to know the community," Kanas said.
Regulators' decision to pick the Kanas group is a positive sign for private equity firms, which pool money from wealthy investors to make acquisitions.
Private equity has been laying plans to take over failing banks with the government's shouldering a heavy share of the losses, and their role in providing fresh funds may prove crucial because many of the traditional buyers of failed institutions -- other bank and thrift holding companies -- are on the ropes themselves.
Kanas' group includes WL Ross & Co., the distressed-asset firm founded by billionaire Wilbur L. Ross Jr.; Carlyle Investment Management L.L.C.; Blackstone Capital Partners V L.P.; Centerbridge Capital Partners, L.P.LeFrak Organization; The Wellcome Trust; Greenaap Investments Ltd.; and East Rock Endowment Fund.
Kanas -- who is former chairman and chief executive of North Fork Bancorp, of Melbourne, N.Y. -- joined WL Ross last year as a senior advisor with plans to acquire and manage ailing financial institutions.
BankUnited attracted interest from bidders because its network of 85 branches offers a rare opportunity to clinch a major presence in an important, deposit-rich banking market overnight.
The FDIC cast a wide net, contacting 62 potential buyers for BankUnited. The agency got five bids from three groups, according to FDIC spokesman David Barr. "This bid will be the least costly to the insurance fund," he said.
The FDIC strives to make such seizures as seamless and uneventful as possible to bank customers to avoid panic. Deposits are insured up to $250,000 -- although in this case all deposits are safe -- and institutions reopen for regular hours the next business day.
The FDIC planned to have officials on hand at branches Friday to answer questions from customers, who should find business as usual. Savings and checking accounts, ATM cards, and online banking will work the same as always.
The thrift stumbled by making a big foray into option adjustable rate mortgages, which allowed borrowers to choose their repayment terms. With such loans, the balance can grow over time rather than shrink. As housing values tumbled, the loans proved toxic for BankUnited.
For the second quarter ended March 31, its troubled loans rose to $1.98 billion, or 19.4 percent of all loans. BankUnited Financial Corp. (BKUNA:$0.4922,$-0.0518,-9.52%) , the parent company, said its stockholder equity was negative $1.03 billion.
BankUnited's fate began to come to a head on April 14 when the Office of Thrift Supervision gave it 20 days to merge or find a buyer. The order required BankUnited to help federal regulators to market itself to buyers.
The Office of Thrift Supervision declared the thrift "critically undercapitalized and in an unsafe condition to conduct business" and appointed the FDIC as receiver. The FDIC in turn sold the thrift to the new owners.
"Consumers should look at this as simply a change in control. Somebody else has come in and bought this bank," Barr said. "They're taking over the entire operation, so there should really be very little noticeable difference between today and tomorrow. I think that continuity is going to be a good thing for the customers."
To see more of The Miami Herald or to subscribe to the newspaper, go to http://www.herald.com.
Copyright (c) 2009, The Miami Herald
Distributed by McClatchy-Tribune Information Services. For reprints, email tmsreprints@permissionsgroup.com, call 800-374-7985 or 847-635-6550, send a fax to 847-635-6968, or write to The Permissions Group Inc., 1247 Milwaukee Ave., Suite 303, Glenview, IL 60025, USA.
Get more news on:SYMBOLS: WAMUQ, BKUNANEWS TYPE: SECTORS: Commercial Banks, Financials, Health Care
I might try to grab some on a dip and ride it for a DT tomorrow! Thanks for the chart and news~!
I truly hope that something good happens for all of those (my uncle included) who are on retirement pensions from GM.... he worked his A** off at GM in Detroit for 34 years and is on a fixed income.
I also hope your trade works out and makes you some $$ in this roller-coaster market!
Congrats on your swing Glassy! That's the kind of news that should really help GM move up
I've been 90% cash at the end of the day lately...really not sure where this market is heading.... I can't complain- it's been an exceptional 2 months
60 day trading total stats:
$10,868 short term gains
$1,632 short term loss
Not bad for the last 2 months of swing trading
I want to get a more aggressive (trading larger swings) but this market has me liquidating almost every day..... Stop loss has been my best friend this last week or so
Yep, I just chalk it up as penance for all of the winners I grabbed this year!
I gave up on it around the same time as you....
05/05/2009 YOU SOLD
NEXM NEXMED INC COM
Margin Shares: -6,500.000 Price: $0.174 Amount: $1,074.42
Comm: $56.55
Settlement Date: 05/08/2009
I've been holding it for almost a year.....2 days after I give up and sell it the pps goes to .50 - talk about bad luck
And yet FAZ stays relatively flat for the day so far....maybe the Govt. will pass them another 30-50 billion....that' sure sounds like a great solution -lol
HEB +27% and moving on big volume FDA approval pending