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Daily Highlights: 10/30/09

Fri, 30 Oct 2009 13:25:15 GMT

Asian Stocks rise as earnings, Japan jobless data, stoke growth optimism.Bank of Japan keeps benchmark rate at 0.1%, stops buying corporate debt.Dollar falls for fourth month against Euro, US growth aids risk demand.Japan central bank forecasts 3 years of deflation as it ends emergency credit steps.[More...]

Weekly Credit Summary: August 28

Fri, 28 Aug 2009 21:57:29 GMT

Credit underperformed equities this week as single-name tighteners edged wideners by four-to-three leaving indices (especially HY) underperforming intrinsics in general. CONSumer and ENRG names underperformed as TMT and FINLs were best with INDUstrials mixed. Financials outperformed non-financials but the strength in the former was more at the tails of the distribution while the weakness in the latter was more broad-based.[More...]

Berkshire Hathaway’s portfolio changes for 2Q 2009

Sat, 15 Aug 2009 17:53:08 GMT

Berkshire Hathaway (BRK-B) just posted its 13-F filing with the SEC, which lists changes in its stock positions. Buffett initiated a new position in medical technology company Becton[More...]

Daily Credit Summary: August 10

Tue, 11 Aug 2009 22:15:22 GMT

Spreads were broadly wider in the US as all the indices deteriorated (as HY underperformed IG and both closed at one-week wides). Indices typically underperformed single-names with skews widening in general (extending the trend of single-name weakness from the middle of last Friday) as IG underperformed but narrowed the skew, HVOL outperformed but widened the skew, ExHVOL's skew widened as it underperformed, XO's skew increased as the index outperformed, and HY's skew widened as it underperformed. The names having the largest impact on IG are International Lease Finance Corp. (-21.93bps) pushing IG 0.14bps tighter, and American International Group, Inc. (+58.65bps) adding 0.35bps to IG. HVOL is more sensitive with International Lease Finance Corp. pushing it 0.64bps tighter, and American International Group, Inc. contributing 1.53bps to HVOL's change today. The less volatile ExHVOL's move today is driven by[More...]

AT&T (NYSE: T)/ Centennial Communications (Nasdaq: CYCL) Merger Arbitrage Opportunity

Tue, 28 Jul 2009 15:08:46 GMT

Reader Saku Kiviharju tipped me on an interesting merger arbitrage opportunity, which has a large spread for arbitrageurs. In essence, AT&T (T) is acquiring Centennial Communications (CYCL) for[More...]

Cap and Trade Part Two: How We'll Profit

Wed, 08 Jul 2009 16:31:30 GMT

We got hundreds of responses to last week's cap and trade essay. Plenty of readers were shocked by how much the new bill will cost you, me, and every American family... Not J.M., who writes, "Ask me if I am surprised. Congress (as well as local governments) treats us as cash cows, which in fact we are." Some readers didn't like questioning our government's huge new tax policy. R.R. writes, "Matt's article on the energy legislation is a political rant and fear mongering." And D.B. gripes, "I wish I could cancel and get my money back when I read your Republican and Libertarian views. Why don't you just stick to providing investment advice and leave the environmental commentary to scientists?" Well, D.B., I'd be sad to see you go. But thanks for cutting to the chase: how to profit. It's time to talk about the best ways to recoup some[More...]

Warren Buffett’s Dividend Stocks

Tue, 09 Jun 2009 15:32:00 GMT

Some of my fellow dividend investors have accused Warren Buffett of being a closet dividend investor. I won’t quite go that far, but there is significant common ground between dividend and value investors.[More...]

Daily Credit Market Summary: June 8 - Risk Is Good

Mon, 08 Jun 2009 22:38:39 GMT

Spreads were broadly wider in the US as all the indices deteriorated (despite a big leg tighter towards the close which leaked back wider after the close). Indices typically underperformed single-names with skews widening in general as IG underperformed but narrowed the skew, HVOL outperformed but widened the skew, ExHVOL intrinsics beat and narrowed the skew, XO's skew increased as the index outperformed, and HY's skew widened as it underperformed. The names having the largest impact on IG are International Lease Finance Corp. (-45.39bps) pushing IG 0.3bps tighter, and CIT Group Inc (+79.54bps) adding 0.45bps to IG. HVOL is more sensitive with International Lease Finance Corp. pushing it 1.31bps tighter, and CIT Group Inc contributing 2.01bps to HVOL's change today. The less volatile ExHVOL's move today is driven by both Constellation Energy Group Inc. (-12.5bps) pushing the index 0.13bps tighter, and Fortune Brands Inc. (+10bps) adding 0.1bps to ExHVOL.[More...]

Daily Credit Market Summary: May 19

Wed, 20 May 2009 04:42:31 GMT

Spreads improved (tightened) across the board as all the indices rallied today (as a late day sell-off in stocks dragged a short-squeezed IG off its tights). Indices typically underperformed single-names with skews mostly narrower as IG underperformed but narrowed the skew, HVOL underperformed but narrowed the skew, ExHVOL intrinsics beat and narrowed the skew, XO underperformed but compressed the skew, and HY outperformed but narrowed the skew. The names having the largest impact on IG are Hartford Financial Services Group (-47.13bps) pushing IG 0.37bps tighter, and CIT Group Inc (+23.46bps) adding 0.12bps to IG. HVOL is more sensitive with Hartford Financial Services Group pushing it 1.64bps tighter, and CIT Group Inc contributing 0.56bps to HVOL's change today. The less volatile ExHVOL's move today is driven by both Constellation Energy Group Inc. (-25bps) pushing the index 0.25bps tighter, and[More...]

Warren Buffett’s Berkshire Hathaway Bought Financials Wells Fargo, US Bank Near The Bottom

Sat, 16 May 2009 15:46:22 GMT

The long awaited disclosure from Berkshire Hathaway about its holdings is online. This time however many are doubting Buffett’s wisdom after his stock lost over 32% of its value in 2008 versus S&P 500's[More...]

CEG closes nuclear deal

Sat, 07 Nov 2009 11:46:00 GMT

Nov. 7--Constellation Energy Group closed a deal Friday to sell half its nuclear power business to a French utility, one week after Maryland regulators approved the $4.5 billion transaction with conditions.
Forced by a severe cash shortage to find a partner, Constellation initially agreed to a takeover by billionaire investor Warren Buffett before switching to the deal with Electricite de France in December.
In completing the deal, the Baltimore company surmounted regulatory hurdles and overcame political pressure.

: iStockAnalyst.com Symbols Feed

Daily Highlights: 10/30/09

Weekly Credit Summary: August 28

Berkshire Hathaway’s portfolio changes for 2Q 2009

Daily Credit Summary: August 10

AT&T (NYSE: T)/ Centennial Communications (Nasdaq: CYCL) Merger Arbitrage Opportunity

Cap and Trade Part Two: How We'll Profit

Warren Buffett’s Dividend Stocks

Daily Credit Market Summary: June 8 - Risk Is Good

Daily Credit Market Summary: May 19

Warren Buffett’s Berkshire Hathaway Bought Financials Wells Fargo, US Bank Near The Bottom

CEG closes nuclear deal

Constellation, EDF close deal: BGE parent to implement conditions from PSC, including $100 customer credit

The Baltimore Sun Jay Hancock column: Losing Black and Decker a bad sign for Md. business

EDF, Constellation Energy agree on nuclear venture terms

Approval Helps Clear Way for Reactors' Construction

The Baltimore Sun Jay Hancock Column: O'Malley Tried, Failed to Stop Jump in BGE Rates

CEG to Act Quickly on EDF Deal: Date Unclear on $100 Credit to BGE Clients, New Md. HQ

Constellation, EDF agree on nuclear venture terms

State OKs Constellation Deal: BGE Customers to Get $100 Credit As Part of Pact With French Utility

A Smarter Grid: $200 Million in Federal Stimulus Grants to Boost Effort to Modernize Energy Use in Md.

Fitch: Expected Closing of Constellation Energy/EDF Transaction Not Expected to Affect Ratings

Constellation Energy Releases Statement Regarding the Company's Proposed Nuclear Joint Venture With EDF

Maryland Public Service Commission's Ruling Related to the Proposed Nuclear Joint Venture Between Constellation Energy and EDF Group

Fitch Affirms Central Hudson Gas & Electric's IDR at 'A-'; Outlook Stable

Constellation Energy to Present at the 44th EEI Financial Conference

Constellation Energy Reports Third Quarter 2009 Results

NEI Says Accomplishments of U.S. Nuclear Plants Highlight World-Class Performance

Baltimore Gas and Electric Company Awarded $200 Million in Federal Stimulus for Smart Grid Initiative

More Businesses Teaming on Energy Purchases Through Boston Buying Power Program

Constellation Energy Declares Quarterly Dividend

Form 4 CURTISS JAMES R For: Aug 21 (10K)

Form 3 Manasco Shon J. For: Aug 11 (10K)

Form 3 Konar Shameek For: May 29 (10K)

Form 4 BARRON HENRY B JR For: Apr 01 (10K)

Form 4 CONSTELLATION ENERGY For: Mar 06 Filed by: WALLACE MICHAEL J (10K)

Form 4 CONSTELLATION ENERGY For: Mar 04 Filed by: WALLACE MICHAEL J (10K)

Form 4 CONSTELLATION ENERGY For: Mar 04 Filed by: SHATTUCK MAYO A III (10K)

Form 4 CONSTELLATION ENERGY For: Feb 27 Filed by: WALLACE MICHAEL J (10K)

Form 4 Thayer Jonathan W For: Feb 27 (10K)

Form 4 CONSTELLATION ENERGY For: Feb 27 Filed by: SHATTUCK MAYO A III (10K)