Archive for September 18th, 2009

Mueller Water Secondary Helps Shares (MWA)

Mueller Water Products, Inc. (NYSE: MWA) priced a 32.28 million share secondary offering of common stock at $4.75 through BofA Merrill Lynch and Goldman Sachs.  This offering size was increased on demand as the original amount was to be 27.5 million shares.  The $144.1 million in gross proceeds is to be used to purchase additional [...]

Cal Dive Dumped on Secondary (DVR)

Cal Dive International Inc. (NYSE: DVR) is seeing fairly active trading after it priced a 20.6 million share secondary offering of common stock at $10.00.  All shares are being sold by Helix Energy Solutions Group, Inc. (NYSE: HLX) in a sale conducted by Credit Suisse and BofA Merrill Lynch.  As the stock closed at $10.64 [...]

The Spiral in Palm Trading (PALM)

Palm Inc. (NASDAQ: PALM) beat earnings non-GAAP loss was only -$0.10 EPS.  The company said that non-GAAP adjusted revenues were $360.7 million versus estimates $-0.24 for non-GAAP EPS and $297.7 million in revenues.  This is huge on the surface, but PALM also announced a 16,000,000 share secondary offering.  Shares traded down almost 5% last night [...]

E*TRADE Up At Schwab’s Expense (ETFC, SCHW)

E*TRADE Financial Corporation (NASDAQ: ETFC) is trading up best in show after Goldman Sachs raised its rating and downgraded Charles Schwab (NASDAQ: SCHW). ETFC was raised to Buy and SCHW was cut to sell.  Goldman liked E*TRADE’s trading data for the month and noted that Schwab’s asset management and net interest income revenue will be [...]

Arena Not Good Enough, VIVUS Likes It (ARNA, VVUS)

Arena Pharmaceuticals, Inc. (NASDAQ: ARNA) came out with its news that it plans to submit its new drug ppplication for lorcaserin to the FDA in December after its one-year BLOSSOM trial met all primary efficacy and the safety endpoints. Arena also noted that patients achieved highly significant weight loss and was not associated with depression [...]