Monday, August 27, 2007

Morning Note...

Futures looking slightly lower on a relatively slow “vacation-week” Monday.  

HD Supply sale terms lowered.  Spooking the LBO markets a bit.  

Existing home sales data at 10am.  Oil hanging just above $70. 

Announced Deals:  X acq STE CN for C$38.50/share ($1.1B).  Acer for Gateway ($710mm).

Rockbay News: NRG declares preferred tock dividends, NY Times reports Altria may spin-off int’l business, CON GY makes positive comments on synergies with Siemens VDO unit, Turkey’s Competition Board approves sale of Intergum to CBRY LN, BARD neutral on GCO – merger with FINL on schedule, Aussie paper reports incoming BHP CEO does not see AA acq as part of his strategy, Barron’s article on recent loose credit terms that helped lead to current credit crunch, RTP wins antitrust approval for AL deal, HD Supply unit priced for 18% less than original terms, RBS to lower ABN terms according to De Telegraaf, JEFF positive on ALC buyback, UBS positive on CEG restructuring

Vito’s Trivia:  What country has the highest (per capita) murder rate?

Yesterday’s Answer:   Closing movie lines… 1) Louis, I think this is the beginning of a beautiful friendship. (Casablanca)  2) Go – proclaim liberty throughout all the lands, and to all the inhabitants thereof. (The 10 Commandments)  3) Can you dig it? (Superfly)  4) I hope to see my friend and shake his hand. I hope the Pacific is as blue as it has been in my dreams. I hope. (Shawshank Redemption)