Goldman Sachs Posts Higher Earnings
Goldman Sachs (GS) posted $6.67 vs. $5.08 first quarter earnings per share (EPS) on a 22% total net revenue rise.
Accredited Home Lenders (LEND) says it is exploring strategic options, including raising additional capital and cutting more jobs to enhance liquidity, as well as to provide the company with flexibility to retain or sell originated loans based on an assessment of the best overall return.
New Century Financial (NEW) says the Securities and Exchange Commission is conducting an investigation; the company received a grand jury subpoena requesting documents. Yesterday, the New York Stock Exchange said the halt in trading of New Century shares would continue until information about its liquidity and financing efforts has been disseminated.
Spirit Finance (SFC) agrees to be acquired by consortium including Macquarie Bank, Kaupthing Bank, and other independent equity participants for $3.5 billion (including about $1.9 billion of assumed debt), or $14.50 per share in cash.
Boston Scientific’s (BSX) board authorizes management to explore the IPO of minority interest in its Endosurgery group, which would involve Boston Scientific selling approximately 20% of the group and establishing a separately traded public company.
AT&T (T) says it will invest more than $750 million in 2007 to accelerate delivery of global IP services, solutions to businesses, and multinational companies in key markets worldwide.
Qualcomm (QCOM) Sees better-than-expected $0.48 to $0.49 second quarter pro forma EPS on $2.1 billion to $2.2 billion revenue. Ups quarterly dividend 17%.
Texas Instruments (TXN) sees first quarter revenue of $3.07 billion to $3.22 billion and EPS of 29 cents to 33 cents; compared with previous ranges of $3.01 billion to $3.28 billion and EPS of 28 cents to 34 cents.
Moody's (MCO) Shares under pressure as concerns in the subprime mortgage lending market spills into companies exposed to the mortgage market. Moody's makes fees for rating debt securities, including mortgage-backed securities.
Cosi (COSI) Says CEO Kevin Armstrong resigned for health reasons. Names Robert Merritt interim CEO, effective immediately.
To continue reading this article you must be a Bloomberg Professional Service Subscriber.
If you believe that you may have received this message in error please let us know.
- Electric Buses Are Hurting the Oil Industry
- Ford Plans $11.5 Billion in Extra Cuts, Kills Most U.S. Cars
- Why High-Flying U.S. Home Prices Seen Getting Another Jolt
- Stocks Push Higher; Dollar Reaches 3-Month Peak: Markets Wrap
- American Cities Are Fighting Big Business Over Wireless Internet, and They’re Losing