According to Reuters, Bank of America (BAC) will pay the president of Countrywide (CFC) $28 million to stay and run the company after the buy-out is complete.
Reuters reports that JP Morgan (JPM) is trying to integrate Bear Stearns operations as they begin to fall apart.
The Wall Street Journal writes that ad-click data for Google (GOOG) was disappointing for the second time in two months.
The Wall Street Journal writes that tech firms holding auction-rate securities are beginning to post write-offs due to their falling value.
The Wall Street Journal writes that AT&T (T) plans to launch a mobil TV service for its handset subscribers.
The Wall Street Journal writes that the number of cellphones with GPS is rising rapidly.
The Wall Street Journal writes that recent numbers suggest that China may have passed the US in total number of internet users.
The New York Times writes that a China anti-monopoly law could hurt Microsoft’s (MSFT) bid for Yahoo! (YHOO).
The FT writes that M&A activity is at a four-year low.
The FT writes that rice prices are up 30% to an all-time high.
Bloomberg writes that Fannie Mae (FNM) and Freddie Mac (FRE) may have to raise $20 billion in new capital.
RIMM: Raised estimates & target to $150 from $140@RBCM
RBC Capital expects RIMM to report an in line Q4 and guidance to be materially above consensus due to strong momentum. The firm’s checks indicate strong Q1 momentum and they believe the company will guide EPS to 81c-86c and revenues to $2.1B-$2.2B vs. Street estimates of 74c/$1.98B.
RIMM estimates raised after strong channel checks@PIPR
Piper raised their FY09 estimate to $3.59 from $3.40 after March channel checks showed continued strong sell-through trends for BlackBerry at the four largest U.S. carriers. Shares remain Neutral rated.
RIMM: Positive comments following channel checks@CRTC
CRT Capital thinks RIMM is well positioned to gain share in both the smart phone and the broader handset market and expects solid February quarter results. However, they think weak guidance could pressure shares and would use any sell-off as a buying opportunity.
RIMM: Checks indicate solid demand, estimates raised@LEHM
Lehman raised RIMM estimates citing strong prosumer expectations and steady enterprise demand. The firm’s checks indicate strong carrier net add momentum and they see a unit resurgence in Q1.
JASO initiated with a Buy@LAZA
LEH: Popping on Upgrade
Citigroup upgraded shares of Lehman Brothers (LEH) to Buy from Hold and maintained their $65 price target on the shares (a +60% premium to current pre-market price).
Immediate future for student loans is unclear-WSJ
At this time of year, students are accepted at colleges and are directed to lenders for loans. But with the credit crisis, many institutions have pulled back from making those loans, and the U.S. Department of Education is being looked to for direction.
