Nadia's Feed
Jan 14, 2014

Exclusive: Valeant, Actavis, Mylan eye Pfizer’s generics unit: sources

NEW YORK (Reuters) – Drugmakers Valeant Pharmaceuticals International Inc (VRX.TO: Quote, Profile, Research, Stock Buzz), Actavis Plc (ACT.N: Quote, Profile, Research, Stock Buzz) and Mylan Inc (MYL.O: Quote, Profile, Research, Stock Buzz) have all expressed interest in buying Pfizer Inc’s (PFE.N: Quote, Profile, Research, Stock Buzz) branded generics business, but no active discussions are going on at this time, according to three people close to the matter.

The “established products” unit, which makes off-patent drugs, had global sales of $7 billion in the first nine months of 2013, accounting for 18 percent of Pfizer’s revenue. Pfizer said in July it planned to separate its commercial operations into three units — two mainly for patent-protected brands and the third for generics.

Dec 18, 2013

Ford says profit to slow a gear in 2014; shares slump

NEW YORK (Reuters) – Ford Motor Co (F.N: Quote, Profile, Research, Stock Buzz) warned Wednesday that the cost of launching new vehicles and a deteriorating Venezuelan economy would dent its profit next year, news that sent shares of the No. 2 U.S. automaker down 7 percent in afternoon trading.

The Detroit-area company said its mid-decade target for a global automotive profit margin of 8 percent to 9 percent was also at risk.

Dec 13, 2013

Charter readies Time Warner Cable bid below $135/share: source

NEW YORK (Reuters) – Charter Communications Inc is preparing to send an offer letter to acquire Time Warner Cable Inc as soon as next week, a source close to the matter said on Friday.

The offer is expected to be less than $135 per Time Warner Cable share and will be a combination of cash and stock, said the source, who asked not to be named because the matter is not public.

Dec 12, 2013

Exclusive: Ford board aims to pin down CEO Mulally’s plans

DETROIT/NEW YORK (Reuters) – Ford Motor Co’s board of directors plans to press Chief Executive Alan Mulally soon for a decision on his future, as speculation intensifies that he may be offered the job of CEO at Microsoft Corp.

Mulally, 68, is one of a handful of candidates still in contention for the Microsoft role, according to several sources close to the technology giant, and he has not tried to dispel talk that he is interested in the job.

Dec 12, 2013

Exclusive: Hellman & Friedman looks to sell HR software firm Kronos – sources

NEW YORK (Reuters) – Private equity firms Hellman & Friedman LLC and JMI Equity are exploring a sale of human resources management software firm Kronos Inc, which could be valued at more than $4 billion, people familiar with the matter said on Wednesday.

Kronos is in early-stage talks with a small group of private equity firms, including KKR & Co LP, TPG Capital LP and Bain Capital LLC, about a potential deal, the people said. Oracle Corp and SAP AG would be natural buyers for Kronos but have so far shown little interest, the people added.

Nov 25, 2013

Analysis: Men’s Wearhouse alterations could backfire on retailer

NEW YORK (Reuters) – If Men’s Wearhouse Inc (MW.N: Quote, Profile, Research, Stock Buzz) was hoping that activist shareholder Eminence Capital LLC was going to go away quietly after the retailer boosted its anti-takeover defenses, it’s likely to be sorely disappointed.

Although Jos. A. Bank Clothiers Inc (JOSB.O: Quote, Profile, Research, Stock Buzz) walked away from a deal earlier this month after Men’s Wearhouse board rebuffed its $48-a-share offer, and prevented it from conducting due diligence, the suitor’s language that it still felt a deal was in the best interest of shareholders for both companies has resonated with investors.

Nov 25, 2013

Men’s Wearhouse alterations could backfire on retailer

NEW YORK, Nov 25 (Reuters) – If Men’s Wearhouse Inc
was hoping that activist shareholder Eminence Capital LLC was
going to go away quietly after the retailer boosted its
anti-takeover defenses, it’s likely to be sorely disappointed.

Although Jos. A. Bank Clothiers Inc walked away
from a deal earlier this month after Men’s Wearhouse board
rebuffed its $48-a-share offer, and prevented it from conducting
due diligence, the suitor’s language that it still felt a deal
was in the best interest of shareholders for both companies has
resonated with investors.

Nov 21, 2013

Exclusive: JPMorgan’s legal troubles weigh on employee pay: sources

By Nadia Damouni and David Henry

(Reuters) – JPMorgan Chase & Co (JPM.N: Quote, Profile, Research, Stock Buzz) plans to keep overall compensation per employee roughly flat this year from last year, lagging gains at rivals, as the bank’s massive legal settlements weigh on its results, two sources familiar with the matter said.

Bonuses were largely set early this week, though payouts could change in unusual situations or if there is an unexpected change in the company’s results during the last six weeks of the year, said the sources, who spoke on the condition of anonymity. It is not yet clear what Chief Executive Jamie Dimon’s bonus for 2013 will be.

Nov 21, 2013

JPMorgan’s legal troubles weigh on employee pay -sources

Nov 21 (Reuters) – JPMorgan Chase & Co plans to keep
overall compensation per employee roughly flat this year from
last year, lagging gains at rivals, as the bank’s massive legal
settlements weigh on its results, two sources familiar with the
matter said.

Bonuses were largely set early this week, though payouts
could change in unusual situations or if there is an unexpected
change in the company’s results during the last six weeks of the
year, said the sources, who spoke on the condition of anonymity.
It is not yet clear what Chief Executive Jamie Dimon’s bonus for
2013 will be.

Nov 21, 2013

Exclusive: JPMorgan plans to keep pay roughly flat from last year – sources

By Nadia Damouni and David Henry

(Reuters) – JPMorgan Chase & Co (JPM.N: Quote, Profile, Research, Stock Buzz) plans to keep overall compensation roughly flat this year from last year, in a sign that employees will feel at least some pain from the bank’s recent legal settlements, according to two sources familiar with the matter.

Pay increases have been muted across much of the banking sector in the aftermath of the financial crisis, but JPMorgan’s decision would put the bank on the lower end of expectations for the rest of the industry.