Determined Corporate Predator
After rejecting a $103-billion buyout bid from Broadcom Ltd. (NASDAQ:AVGO), Qualcomm Inc. (NASDAQ:QCOM) may reflect on the current state of battle with what appears to be a determined corporate predator, with a history of making acquisitions and unlikely to be easily deterred. Shareholders in Qualcomm will need to weigh the value of any further offer against the prospects for growth promised by the current acquisition and innovation strategy being pursued by the board.
Underscoring their commitment to the fight, Broadcom has lined up a number of the world’s largest investment banks to provide financing for their takeover of Qualcomm. In what are known as highly confident letters, these banks have expressed optimism in their ability to provide financing for an acquisition through the use of debt markets.
live stock market: Vaalco Energy Inc(EGY)
- [By Monica Gerson]
VAALCO Energy, Inc. (NYSE: EGY) is expected to post a quarterly loss at $0.11 per share on revenue of $18.59 million.
B2Gold Corp (NYSE: BTG) is estimated to post its quarterly earnings at $0.00 per share on revenue of $135.84 million.
live stock market: Preferred Bank(PFBC)
- [By WWW.MONEYSHOW.COM]
Preferred Bank (PFBC) has surged 54% in the past year but still trades at a modest discount to the median S&P 1500 regional bank, based on both trailing earnings and estimated 2017 profits.
live stock market: Dominion Resources, Inc.(D)
- [By Shauna O’Brien]
JP Morgan reported on Friday that it has raised its rating on energy producer Dominion Resources, Inc. (D).
The firm has upgraded D from “Neutal” to “Overweight,” and has given the company a $68 price target. This price target suggests a 12% increase from Thursday’s closing price of $59.78.
Analysts see midstream growth and its MLP formation adding value to existing assets.
Dominion Resources shares were up $1.02, or 1.71%, during pre-market trading Friday. The stock is up 15% YTD.
- [By Jim Jubak, Senior Markets Editor, MoneyShow.com]
A big part of that is Wednesday’s news that the US Department of Energy had approved a permit for Dominion Resources (D) to export liquefied natural gas from an existing liquefied natural gas import terminal in Maryland.
- [By Ben Levisohn]
Iron Mountain has gained 2.6% to $26.55 at 3:05 p.m., making it the fourth-best performer in the S&P 500, ahead of WPX Energy (WPX), which has gained 2.4% to $19.94, Pinnacle West Capital (PNW), which has gained 2.3% to $53.55 and Dominion Resources (D), which has risen 2.1% to $59.85.
- [By Justin Loiseau]
Dominion (NYSE: D ) added its name to the short list of U.S. companies approved to export LNG to non-Free Trade Agreement countries around the world. Its $3.6 billion Cove Point plant in Maryland will flip the facility’s focus on its head from imports from across the globe, to exports to India and Japan.
live stock market: Geo Group Inc (The)(GEO)
- [By Shanthi Rexaline]
Height Securities said in a note that the recent drama surrounding Sessions, known as a friend to the industry, has scared the wits out of investors in Corecivic Inc (NYSE: CXW) and The GEO Group Inc (NYSE: GEO).
- [By Wayne Duggan]
If a potential Trump impeachment appears to be progressing, traders should watch for potential buying opportunities in the following places:
U.S. companies with primarily domestic exposure and the SPDR S&P 500 ETF Trust (NYSE: SPY).
Bank stocks and the Financial Select Sector SPDR Fund (NYSE: XLF).
Prison stocks Corecivic Inc (NYSE: CXW) and The GEO Group Inc (NYSE: GEO).
Energy and coal stocks, including the Market Vectors Coal ETF (NYSE: KOL).
- [By Jon C. Ogg]
Corrections Corporation of America (NYSE: CXW) was trading up 7.8% at $20.97 shortly before Monday’s closing bell. GEO Group Inc. (NYSE: GEO) was up 2.2% at $31.29.