Facebook Director Thiel Sold 20M Shares After Lock-up Lifted
Facebook director Peter Thiel sold about 20 million shares in the company last week, cashing out the majority of his stake, according to a regulatory filing.
STREET MOVES: Merrill Lynch Hires Wells Fargo Duo
Bank of America Corp.'s (BAC) Merrill Lynch Wealth Management's Private Banking and Investment Group has added Westcott Jones and Scott Vogel from Wells Fargo & Co.'s (WFC) ultra-high-net-worth Abbott Downing.
Apple Named Most Valuable U.S. Company
Apple Inc. (AAPL) is now the most valuable U.S. company of all time, notching another milestone in the company's nearly decade-long run that has helped to revolutionize the tech, telecom and media industries.
JPMorgan Sells $1.1 Billion of 5.5% Coupon Preferred Notes
J.P. Morgan Chase & Co. (JPM) priced $1.1 billion of subordinate preferred notes Monday, offering yield-starved investors fixed payments of 5.5% for at least five years. An early term sheet indicated the bank would sell $500 million of the notes at around 5.625%, but heavy demand enabled the deal
Busy Bond Issuance as Five Companies Price Nearly $3 Billion
Companies with an eye on the debt markets often ease off from late August to Labor Day, but a fervor to lock in low rates added another $2.85 billion to the monthly tally Monday.
Altria Sees Smaller-Than-Expected Charge in 3Q
Altria Group Inc. (MO) said it will record a smaller-than-expected charge related to the early extinguishment of debt in the third quarter after its offer to buy back as much as $2 billion in debt was oversubscribed as of the early deadline.
Some Brazil Cruzeiro do Sul Creditors To Reject Current Buyback Offer
Some investors holding bonds issued by troubled Brazilian bank Cruzeiro do Sul (CZRS4.BR) will likely not accept the haircuts proposed by the Brazilian Deposit Insurance Fund, or FGC, unless terms of the offer are revised, said Carlos Gribel, director of Miami-based brokerage Tradewire.
BP Reports Compressor Trip at Texas City Refinery
BP PLC (BP, BP.LN) said a compressor tripped offline at its refinery in Texas City, Texas, according to a government filing made public Monday.
Citigroup CEO: Company is Back To The Basics of Banking -FT
Vikram Pandit, the chief executive of Citigroup (C), said the company has gone back to "a tried and proven strategy"--the basics of banking--after having sold many of the units stemming from the 1998 merger with Travelers, the Financial Times reported Monday.