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Thursday, April 24, 2008 --- 22 days ago http://seekingalpha.com/article/73856-under-the-radar-news-thursday?source=feed
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R.I.P. Bond Rally. The yield on two-year notes (2.34%) overtook the fed-funds target rate of 2.25% this morning for the first time since 2004. "This could be the watershed, the inflection moment we’ve been waiting for," Morgan Stanley strategist George Concalves says. "We’ve been so tightly wound up in rates because of strong flight-to-quality flows, which was justified cause people trying to figure out where the problems were with the banks. Now, we’ve seen that come off."
Comcast wades into wireless. Comcast (CMCSA) hired Save Williams, former CTO of Telefonica O2 Europe, to "explore wireless options" for the company. Sources think Comcast is weighing its quadruple play options (TV, internet, wireless and voice), and that it may consider a partnership with Sprint-Nextel (S) and Clearwire (CLWR) over WiMAX.
Wall Street banks committed to funding a $22B private-equity buyout of Clear Channel Communications (CCU) are scheming to renege on the deal by offering terms "they know the [firms] won't be able to accept."
To hedge or not to hedge. Airlines Q1 earnings were clobbered by soaring oil prices, with the notable exception of Southwest Airlines (LUV), which managed to turn a small-but-respectable profit to the credit of its aggressive fuel-price hedging. (Continental Airlines (CAL) hedged just 22% of its Q1 costs, Delta Air Lines (DAL) hedged 27%, and UAL (UAUA) hedged 30%. Southwest has hedged 70% o ... |
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Anytime
