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Monthly Archives: June 2012

REPORT: There Is A Plan In Congress To Delay The Fiscal Cliff

“Congressional Democrats and Republicans are working to push back the fiscal cliff set to hit at the beginning of 2013, Bloomberg’s Roxana Tiron reports.

The new plan would have the $1.2 trillion in automatic spending cuts go into effect in March, several months after first planned.

Sources tell Tiron that the extension would include temporarily prolonging the Bush tax cuts, as well as funding the government through spring of 2013.”


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SBA Communications to Buy 3.3k Phone Towers From TowerCo. for $1.45 Billion

“(Reuters) – Wireless tower operator SBA Communications Corp will buy 3,252 mobile phone tower sites in the United States and Puerto Rico from privately held TowerCo for about $1.45 billion to benefit from an explosion in data traffic.

TowerCo will get $1.2 billion in cash and 4.6 million SBA common shares, the companies said in a statement.”

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Goldman Puts $JPM On ‘Conviction Buy List’ And Lowers $MS Guidance

Says JPMorgan could resume share buybacks in 2012

* Cuts JPMorgan’s Q2 EPS estimates to $0.60 from $0.75

* Cuts Morgan Stanley’s 2012 EPS estimates to $0.56 from $1.04

* Sees muted capital markets activity hurting Morgan Stanley earnings

June 26 (Reuters) – Goldman Sachs added JPMorgan Chase & Co to its America’s conviction buy list, saying the U.S. bank’s capital position and earnings power can offset its recent hedging loss of at least $2 billion.

Goldman downgraded Morgan Stanley to “neutral” from “buy,” and removed the stock from its conviction buy list, saying earnings could be hurt by muted capital markets activity.

While Goldman sees value in Morgan Stanley’s shares at current depressed levels, it expects better returns at JPMorgan.

The 15 percent decline in JPMorgan share price since the largest U.S. lender by assets announced trading losses at its chief investment office has been “drastic,” given the unit’s 5 percent average earnings per share contribution, Goldman said.

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KKR Puts Together $4 Billion For M&A in the Energy Sector

KKR & Co. (KKR), the private-equity firm run by Henry Kravis and George Roberts, has gathered about $4 billion to invest in infrastructure and energy deals as the firm looks beyond corporate takeovers.

KKR completed raising about $1 billion for infrastructure investments and $1.25 billion for natural resources, the New York-based firm said today in a statement. That’s combined with $1.3 billion in separate accounts for infrastructure, and $350 million for natural resources contributed by affiliates of KKR.”

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