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Motorola to Split into 2 Independent Companies
Motorola Inc. (NYSE: MOT) said it will split the telecommunications-equipment maker into two independent, publicly traded companies, separating its troubled mobile-devices business from its broadband and mobility-solutions businesses.
Clear Communications Deal Likely to Fall Through
The planned $19 billion privatization of the nation’s largest radio broadcaster, Clear Channel Communications Inc. (NYSE: CCU), looked increasingly likely to fall through as the private-equity firms and banks backing the transaction failed to resolve their differences over final financing terms, people familiar with the matter said.
Take-Two Declines Electronic Arts Bid
Take-Two Interactive Software Inc. (NASDAQ: TTWO) told its shareholders not to back the Electronic Arts Inc. (NASDAQ: ERTS) $2 billion takeover offer and said it would begin a review of alternatives that may include a merger.
Deutsche Bank Warns Against Lower 2008 Profit Targets
Deutsche Bank AG (NYSE: DB) Wednesday gave a cautious outlook, saying its ability to reach its pretax profit target of €8.4 billion ($13.11 billion) this year could be threatened if market conditions and the global economy don’t improve.
Money Managers Believe US Stocks are Cheap
Forty-two percent of money managers believe U.S. stocks are undervalued, according to the latest quarterly survey of investment managers by Russell Investments.
Ex-Hennessee Employee Accused of Stealing Private Data
Two years ago, an executive at Hennessee Group LLC sued the investment firm, saying she was forced out after revealing she was pregnant. Now, the firm is suing her for allegedly stealing information on her way out.
Thornburg Deal May Cost Shareholders Big
Thornburg Mortgage Inc. (NYSE: TMA), a residential-finance company struggling to survive amid the credit crunch, made its second fund-raising attempt in a week, in hopes of averting bankruptcy, but the new plan comes at a steep cost to existing shareholders.
Caterpillar Acquires Japanese Machinery Company
Caterpillar Inc. (NYSE: CAT) will take control of its equally held Japanese construction machinery joint venture with Mitsubishi Heavy Industries Ltd., in a bid to expand its presence in Asia.
MGIC Sells $390 in Convertible Bonds
MGIC Investment Corp. will sell up to $390 million in convertible bonds to “qualified institutional buyers” in a private placement.
Investors Fear Weakened Demand for Garmin Products
Fears of weak demand for Garmin’s products may be overblown as the company gains market share at the expense of its smaller rivals and remains on course to post strong first-quarter earnings, two Wall Street analysts say.
Top 10 Analyst Pre-Market Calls
Top analysts upgrades and downgrades for today’s markets.
German Business Confidence Rises
German business confidence unexpectedly rose for a third month in March, suggesting Europe’s largest economy is coping with near-record oil prices, a surging euro, and a global credit squeeze.
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