StreetInsider.com's News You Should Know:
1. GM IS BANKRUPT, 'Government Motors' Is Born
The long-awaited bankruptcy of General Motors' (NYSE: GM) is finally upon us and the U.S. government will pitch in another $30 billion of taxpayer money to assistance is supporting the 'New GM', or what some have referred to as 'Government Motors'. GM will use Section 363 of the bankruptcy code which will result in the creation of a 'New GM' with a healthy balance sheet, putting the new company on a clear path toward long-term viability and success. The support of more than 54% of the bondholders cleared the way for the 363 sale.CONTINUE READING>>>>
2. JPMorgan (JPM) Confirms $5B Equity Offering, Demonstrating Access to Equity Markets
JPMorgan Chase & Co. (NYSE: JPM) confirmed earlier headlines that it it intends to raise $5 billion in common equity to satisfy a supervisory condition that the largest bank holding companies redeeming TARP preferred capital demonstrate access to the equity capital markets.CONTINUE READING>>>>
3. Cisco (CSCO) and Travelers (TRV) Replace GM and Citigroup in DJIA
Dow Jones Indexes confirmed that The Travelers Companies (NYSE: TRV) will replace Citigroup (NYSE: C) and Cisco Systems (Nasdaq: CSCO) will replace General Motors (NYSE: GM) in the symbolically important Dow Jones Industrial Average, or Dow 30. CONTINUE READING>>>>
4. Equity Offerings Still En Fuego (DCT, MTZ, BKD, AXP, SBNY, ICON, IRET)
There does not seem to be an end to companies raising money through offering stock. There were over 10 companies that announced offerings today including 5 of them who announced they'd be raising money after the close of trading. CONTINUE READING>>>>
5. United Online (UNTD) Higher After An Analyst 'Pounds-the-Table' On the Stock
Shares of United Online (Nasdaq: UNTD) are seeing a nice 7% boost today after an analyst at Broadpoint.AmTech initiated coverage with a Buy rating and $12 price target.CONTINUE READING>>>>
6. Trading Radar for 6/2: VeriFone (PAY), Hovnanian (HOV), Layne Christensen (LAYN), Bob Evans (BOBE), Blue Coat (BCSI), Aries Maritime (RAMS), United Natural Foods (UNFI) Report; Pending Home Sales
The Trading Radar highlights key earnings and economic announcements for tomorrow's trading session: CONTINUE READING>>>>
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