Crude Oil Stocks Jumped with Equities (UNG, USO, XOM, RDC, ESV)
UPDATE – Robust trading helps NYSE Euronext beat the Street (at Reuters)
* Hot exchange industry continues to beat expectations * Q2 EPS 64 cents vs Street view 59 cents * Record derivatives trading drives NYSE Euronext gains
Airline stocks sink with Continental, Gol Linhas (at MarketWatch)
Airline stocks declined Tuesday with Continental Airlines and Brazilian carrier Gol Linhas in the lead. The NYSE Arca Airline Index fell 1.3% to 41.44 points with all but one of its 13 components in the red.
KKR nears NYSE with compensation details expected
* Decision then made on when KKR’s shares listed on NYSE
* Revenues jump to $213.7 mln for quarter * Fund VI IRR declines from 2008 numbers * Filing part of long-pursued plan to list on NYSE By Megan Davies NEW YORK, Nov 23 (Reuters) – Private equity firm Apollo Global Management [APOLO.UL] said in a regulatory filing on Monday that revenues jumped higher over the third quarter, as it moves closer to following rivals onto the New York Stock Exchange. The firm, however, showed it took a hit since the financial crisis on one of its largest funds, the $10.5 billion Fund VI. Apollo started investing in the fund, which has investments in companies such as gaming firm Harrah’s Entertainment and real estate broker Realogy, in July 2006. The fund had a net internal rate of return (IRR) of 21 percent as of March 31 2008, but IRR of zero at the end of September 2009, according to the filing. The fund has returned more than $2.4 billion to investors, the filing said. IRR is a measure of the value of a private equity fund’s realised investments plus the current carrying value of its unrealized investments. The data is part of an updated filing Apollo made regarding its planned move to the NYSE. Apollo filed with the U.S. Securities and Exchange Commission in April 2008 — before the market slid — to register securities already traded on a private exchange and said it planned to list them on the NYSE. The filing on Monday refreshes those plans to list its shares, making it the latest to plan on a public route. Blackstone Group was the trailblazer, going public in 2007, and rival Kohlberg Kravis Roberts & Co ( KKR.AS ) recently listed on Euronext. KKR is also expected to move to the NYSE in due course. The figures showed a turnaround in income and revenues – which Apollo breaks down as fee income and carried income. Revenue for the three months to Sept. 30 was $213.7 million, compared with a $310.3 million loss the same period the previous year. The differing IRR numbers for Fund VI partly reflected the impact of the global economic downturn on its investments, the fact that it is early in the life of the fund and also the impact of applying mark-to-market valuations, Apollo said. Private equity firms are obliged to value their companies as if they were to sell them today, rather than years in the future when they may be sold. In a recent letter to investors, dated Oct. 22, Apollo said that Fund VI had a total value of more than 100 percent of original cost, up from a low of 61 percent of cost at the market’s nadir. Apollo did not list an IRR value for its latest fund, Fund VII, a $14.7 billion fund which it started investing in January 2008 in the midst of the current economic downturn. Apollo invested in a number of companies during the private equity boom, and has also been active in buying their debt. Continued… Continued here: Apollo moves towards NYSE, revenues rise
DALLAS, Nov. 20 /PRNewswire-FirstCall/ — Blockbuster Inc. (NYSE: BBI – News , BBI.B – News ), a leading global provider of media entertainment, today announced its Board of Directors has authorized a combination of its shares of Class A Common Stock and Class B Common Stock into a single class of shares of common stock. Blockbuster’s dual class capital structure was originally established in connection with Blockbuster’s prior ownership by Viacom. Blockbuster believes that elimination of the dual class capital structure will improve the liquidity of its common stock and end confusion regarding the differences between the two classes of common stock. The combination will be subject to obtaining the requisite stockholder approvals at Blockbuster’s annual stockholders meeting in 2010 and will not take effect until such approvals are obtained. Blockbuster’s Board of Directors may explore additional alternatives with respect to its capital structure if necessary to cure the price condition deficiency. In addition, on Nov. 17, 2009 the Company was notified by the New York Stock Exchange (”NYSE”) that it is not currently in compliance with the NYSE’s continued listing standard that requires the average closing price of the Company’s common stock be no less than $1.00 per share over a consecutive 30 trading-day period. Under NYSE rules, the Company has six months from the date of the notice to bring its share price and average price back to or above $1.00. During this time the Company’s common stock will continue to be listed and traded on the NYSE, subject to compliance with other NYSE continued listing requirements. If the Company has not cured the price condition deficiency by the end of the cure period, its common stock would be subject to delisting by the NYSE. In accordance with NYSE rules, Blockbuster will notify the NYSE within 10 business days from the receipt of the notice of its intent to cure the price condition deficiency. About Blockbuster Inc. Blockbuster Inc. is a leading global provider of rental and retail movie and game entertainment. The Company provides its customers with convenient access to media entertainment anywhere and any way they want it – whether in-store, by-mail, through vending and kiosks or digital download. With a highly recognized brand name and a library of over 125,000 movie and game titles, Blockbuster leverages its multi-channel presence to further build upon its leadership position in the media entertainment industry and to best serve the two million daily global customers and over 50 million annual global customers. The Company may be accessed worldwide at www.blockbuster.com . Forward Looking Statements This release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements may also be included from time to time in our other public filings, press releases, our website and oral and written presentations by management. Specific forward-looking statements can be identified by the fact that they do not relate strictly to historical or current facts and include, without limitation, words such as “may,” “will,” “expects,” “believes,” “anticipates,” “plans,” “estimates,” “projects,” “predicts,” “targets,” “seeks,” “could,” “intends,” “foresees” or the negative of such terms or other variations on such terms or comparable terminology. These forward-looking statements are based on management’s current intent, belief, expectations, estimates and projections. These statements are not guarantees of future performance and involve risks, uncertainties, assumptions and other factors that are difficult to predict. Therefore, actual results may vary materially from what is expressed in or indicated by the forward-looking statements. The risk factors set forth under “Item 1A. Risk Factors” in our Annual Reports on Form 10-K and other matters discussed from time to time in our filings with the Securities and Exchange Commission, including the “Disclosure Regarding Forward-Looking Information” and “Risk Factors” sections of our Quarterly Reports on Form 10-Q, among others, could affect future results, causing these results to differ materially from those expressed in our forward-looking statements. These risks and uncertainties include the Company’s ability to achieve and maintain a share price and average price at or above $1.00 per share of its common stock by the expiration of the six-month period, the Company’s failure to continue to satisfy the NYSE’s other qualitative and quantitative listing standards for continued listing, the NYSE’s right to take more immediate action in the event that the stock trades at levels that are viewed as “abnormally low” on a sustained basis or based on other qualitative factors, and the approval by the Company’s stockholders of the combination of the Class A Common Stock and Class B Common Stock. In the event that the risks disclosed in our public filings and those discussed above cause results to differ materially from those expressed in our forward-looking statements, our business, financial condition, results of operations or liquidity could be materially adversely affected and investors in our securities could lose part or all of their investments. Accordingly, our investors are cautioned not to place undue reliance on these forward-looking statements because, while we believe the assumptions on which the forward-looking statements are based are reasonable, there can be no assurance that these forward-looking statements will prove to be accurate. Further, the forward-looking statements included in this release and those included from time to time in our other public filings, press releases, our website and oral and written presentations by management are only made as of the respective dates thereof. We undertake no obligation to update publicly any forward-looking statement in this release or in other documents, our website or oral statements for any reason, even if new information becomes available or other events occur in the future. Rule 14a-12 Legend Blockbuster and its directors and officers may be deemed to be participants in the solicitation of proxies from Blockbuster stockholders in connection with the proposal to combine the Class A Common Stock and Class B Common Stock. Information about Blockbuster’s directors and executive officers and their ownership of Blockbuster stock is set forth in the proxy statement for Blockbuster’s 2009 Annual Meeting of Stockholders. Investors can obtain more information when the proxy statement relating to stockholder approval of the combination of the Class A Common Stock and Class B Common Stock becomes available. This proxy statement, and any other documents filed by Blockbuster with the SEC, may be obtained free of charge at the SEC web site at www.sec.gov . Investors should read the proxy statement carefully, when it becomes available, before making any voting decision because it will contain important information. Originally posted here: Blockbuster Announces Plans to Combine Class A Common Stock and Class B Common Stock; Company Notified by NYSE of Non-Compliance with Continued…
The endowment of the Bill and Melinda Gates Foundation, closely watched because of its value focus and close association with Warren Buffett, was incrementally adding to positions in its portfolio during the third quarter of 2009 . {”s” : “bp,brk-a,brk-b,cat,ko,mcd,msft,wm,wmt,xom”,”k” : “c10,l10,p20,t10″,”o” : “”,”j” : “”} Bill Gates has famously set aside a major portion of the substantial wealth he accrued as Microsoft’s (Nasdaq: MSFT – News ) founder for his Bill and Melinda Gates Foundation, which, with assets of nearly $30.2 billion as of June 30, 2009, is the largest transparently operated charitable foundation in the world. It aims, among other things, to combat poverty and address a number of global health issues. The Foundation counts Gates’ friend and fellow billionaire Warren Buffett among its trustees. Buffett made headlines in 2006 when he pledged $30 billion in Berkshire Hathaway (NYSE: BRK-A – News , BRK-B – News ) stock to the Gates’ charitable efforts. While Gates’ money is managed by his investment officer, Michael Larson, his proximity to Buffett leads many to believe that he may be privy to the thinking of the world’s most famous investor. In June, Gates told Fortune Magazine “I’ve gotten a lot of great advice from Warren.” Looking at the Gates Foundation’s holdings from the end of Q3 , one can see that the endowment was adding to its massive Berkshire Hathaway stake. Elsewhere, Gates was making limited moves, adding shares of fast food chain McDonald’s (NYSE: MCD – News ), beverage maker Coca-Cola (NYSE: KO – News ), heavy equipment maker Caterpillar (NYSE: CAT – News ), and waste services firm Waste Management (NYSE: WM – News ). The Gates Foundation also held steady with large stakes in energy giants Exxon Mobil (NYSE: XOM – News ) and BP (NYSE: BP – News ) and discount retailer Wal-Mart (NYSE: WMT – News ). Looking at tickerspy.com’s graph charting the performance of the Gates Foundation’s end-of-Q3 top holdings so far this quarter, one can see that they are keeping pace with the market. If you want to see how your performance stacks up to the Gates Foundation’s or see some of his other holdings, visit tickerspy.com to see the endowment’s top positions and a chart of their combined performance . Pro portfolio performance is based on institutions’ top-15 holdings as disclosed in quarter-end filings with the SEC. Pro performance does not take into account additional holdings beyond the top 15 nor does it include positions that are not required to be disclosed by the SEC. As such, Pro portfolio performance should be considered an approximation and not a precise record of how an institution has performed over time. Fun and informative, tickerspy.com is a free investing website where you can track multiple stock portfolios and compare against 250 proprietary Indexes tracking themes from stem cells to green energy to precious metals. Best of all, tickerspy.com lets you spy on the portfolios of nearly 3,000 Wall Street institutions and hedge funds and see graphs of their performance. Try tickerspy.com today and find out how you stack up against investing legends like Warren Buffett! Read this articl e: Bill Gates Foundation Shares Buffett’s Value Focus (Indie Research)
Hedge fund pioneer and high-profile billionaire George Soros was adding to stocks in a variety of sectors during Q3, including continued accumulation in commodity-oriented stocks . The news comes not long after Soros made bearish comments about global economic prospects. {”s” : “em,gld,hes,mon,pbr,pbr-a,pot,su,t,vz,wft”,”k” : “c10,l10,p20,t10″,”o” : “”,”j” : “”} Last month, according to Bloomberg , Soros said the economic recovery is “liable to run out of steam,” and he is forecasting a “double-dip” led by the United States. As for the stock market, Soros told the Financial Times , “right now we are enjoying the confidence multiplier,” which will disappear when the V-shape recovery investors are hoping for does not come to fruition. Soros has turned much of the control of Soros Fund Management over to his two sons, Robert and Jonathan. However, the firm’s moves are still closely watched. With that in mind, investors can take a look at Soros’ top U.S.-listed, equity holdings at the end of Q3 to see where the billionaire has felt comfortable putting his money. During the quarter, Soros opened a new stake in recent IPO, medical-billing company Emdeon (NYSE: EM – News ). He was also accumulating shares in agriculture and fertilizer stocks Monsanto (NYSE: MON – News ) and Potash (NYSE: POT – News ), oil equipment and services company Wetherford International (NYSE: WFT – News ), Canadian oil-sands miner Suncor Energy (NYSE: SU – News ), oil refiner Hess (NYSE: HES – News ), and telecom giants AT&T (NYSE: T – News ) and Verizon (NYSE: VZ – News ). Soros ended the quarter with significant exposure to gold via the SPDR Gold Trust (NYSE: GLD – News ). Elsewhere, Soros was cutting his stake Brazilian oil giant Petrobras (NYSE: PBR – News , PBR-A – News ). Looking at tickerspy.com’s graph charting the performance of Soros’ end-of-Q3 holdings so far this quarter, one can see that his top holdings are keeping pace with the market, albeit with more volatility. If you want to see the rest of Soros’ top holdings, visit tickerspy.com to see his fund’s top positions and a chart of their combined performance . Pro portfolio performance is based on institutions’ top-15 holdings as disclosed in quarter-end filings with the SEC. Pro performance does not take into account additional holdings beyond the top 15 nor does it include positions that are not required to be disclosed by the SEC. As such, Pro portfolio performance should be considered an approximation and not a precise record of how an institution has performed over time. Fun and informative, tickerspy.com is a free investing website where you can track multiple stock portfolios and compare against 250 proprietary Indexes tracking themes from stem cells to green energy to precious metals. Best of all, tickerspy.com lets you spy on the portfolios of nearly 3,000 Wall Street institutions and hedge funds and see graphs of their performance. Try tickerspy.com today and find out how you stack up against investing legends like Warren Buffett! Read more from the original source: Bearish Soros Stashes Cash in Gold, Ag, and Energy Names (Indie Research)