Good evening, this is Laura Speizman , Cyberspace Investment News, with the Friday May 15 report.
While the market’s have gone up and down, the past two weeks have proved to be a wash with the Dow Jones average up 150 last week and down 149 this week. Amidst the mire of economic reports and automaker troubles, unemployment rates are starting to go down and consumer confidence is rebounding slowly. In this time, there have been five debt deals over $1 billion that included Wal-Mart, Microsoft, Lloyds, Standard Chartered and Dow Chemical. Also during this time, three major equity deals over $1 billion included Ford Motor, BB&T Bank and MGM Mirage.
Merger activity while active on a steady pace is slow to rebound. However, such deals as Frontier Buying Verizon’s rural lines for $5.25 billion, RR Donnelly acquiring Quebecor World for $1.35 billion, Alpha Natural Resources acquiring Foundation Coal for $2 billion and ICAP acquiring LCH Clearinghouse for $1.1 billion have kept big deals in play.
This is your Friday Report. Good night.
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