I sold 2,000 [[VMI]] @ $82.20.
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Joined Nov 10, 2007
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FXP a bargain here? what do you guys think.
Not yet.
CHA, CHL and LFC are running.
Morph.
Yup, I think it’s options related, m’self.
Strange shit with VMI – if that does not show you that you are traveling on Kodiak island, I do not know what will.
btw.. the market should be eating bearshit with a big ladle.. we are not triples down for some reason that better reveal itself before close.
doodoo bidu reported a great quarter except their guidance sucked lechee nutz. still much fat on that pig.
There goes Lehman.
Morgan rolling over too. A cold blooded trader would take BSC up on theri offer right now, since they want their shitty stock so much.
update,, Wilbur Ross wants to add BSC to his titanic portfolio, having acquired both MBIA and Ambac.
Could this be the cause?
” -Adds a “no comment” from Bear Stearns spokesman.-
SHANGHAI -Dow Jones—Citic Securities Co. -600030.SH- is seeking to renegotiate the terms of its planned US$1 billion investment in Bear Stearns Cos. -BSC- because the share prices of both companies have fallen since their original agreement, according to media reports Thursday.
Citic, China’s largest brokerage by assets, is now seeking a 9.9% stake in Bear Stearns, up from the 6% stake it planned to take in October, Reuters reported, citing unnamed sources.
Bear Stearns will likely take a 2.5% stake in the Chinese firm, up from a 2% stake, Caijing magazine said on its Web site, citing an unnamed source.
The magazine cited the source as saying that if everything goes smoothly, the two parties will disclose the revised plan in April.
Officials at Citic Securities declined to comment. A spokesman at Bear Stearns declined comment.
The adjustment comes at a time when global stock markets have been hit hard by the fallout from the worsening U.S. housing market.
The shares of both companies have dropped sharply since they sealed the deal in mid-October. Bear Stearns has lost more than 33% of its market value since then, while Citic’s stock has slumped nearly 36%.
The companies said Oct. 22 they agreed to invest about $1 billion in each other for minority stakes that could later be increased, and to operate a 50-50 joint venture in Hong Kong to offer capital markets services across Asia.
The deal is still subject to approval from Chinese and U.S. regulators.
– By China Bureau, Dow Jones Newswires- 8621 6120-1200- [email protected]
– Chris Oliver- 415-439-6400- [email protected]
-Jed Horowitz contributed to this article.-
-END- Dow Jones Newswires
02-14-08 1237ET
Copyright -c- 2008 Dow Jones & Company, Inc. “