In the eye of the investor, Tiffany & Co.’s blue-boxed gifts are so alluring to potential suitors that not even the worst earnings stretch in at least a decade has put a dent in its valuation. Even though the $7.6 billion company has missed profit estimates in four straight quarters and said last week that analysts’ fiscal [...]
NuPathe may gain approval for its first commercial product Zecuity, a transdermal migraine patch, this week. The company received a Prescription Drug User Fee Act (PDUFA) date of Jan.17 from the FDA. Click here to continue reading.
MGM Resorts International, the casino operator that issued expensive debt during the 2009 fiscal crisis to stave off bankruptcy, may look to refinance about $1.1 billion in bonds due in 2013 and 2014, said MGM CFO and treasurer Dan D’Arrigo. MGM wants to eventually reduce its debt to five times earnings. The ratio was 6.79 times on Dec. 31, according [...]
At least six major post-crisis rules aimed at making markets safer have stalled in the past 10 weeks because of industry opposition, global disagreements and regulators’ concerns that haste may cause more harm than good, bank executives and financial analysts said. Click here to continue reading.
The U.S. economic expansion will probably continue in 2013 at last year’s subdued pace. A substantial fiscal drag as payroll taxes are reset back to 6.2 percent from 4.2 percent, and an increase in income taxes on households earning more than $450,000, will both play a major role in this slow growth scenario. Fiscal restraint, weak wage growth and muted household expenditures all indicate [...]
2013 US Eco Outlook from Bloomberg Briefs
In this special issue: *2012 Fundraising overview *2013 Funds expected and LP commitment plans *Buyout and venture deal-making review *Exits: a round-up of trade sales, secondary buyouts and IPOs *Views from the industry Download the Private Equity 2012 Review and 2013 Outlook here.
Carlyle Group LP has raised about $150 million for a new private-equity fund that will invest in residential mortgage-backed securities after the market rebounded in the past four years, according to a person familiar with the situation. Carlyle Realty Credit Partners LP, which closed in September, will invest in AAArated residential mortgage-backed bonds, the person said. The firm [...]
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