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MARKET CURRENTS

  • 2:14 PM USEC (USU +4.7%) says it will begin stopping uranium enrichment at the end of this month after failing to conclude a deal with the U.S. Department of Energy for an extension of enrichment at the Paducah Gaseous Diffusion Plant in Kentucky. The plant is the only U.S.-owned and operated uranium enrichment facility in the U.S. Comment! [Energy, On the Move]
  • 2:11 PM There is growing evidence Bank of America (BAC), JPMorgan (JPM), Citigroup (C), and Ally Financial violated the terms of the mortgage servicing abuse settlement, according to NY AG Schneiderman. In a letter to the settlement monitor (obtained by Reuters), Schneirderman says other states "have identified similar recurring deficiencies." The AG considers the letter to have started the clock on a "waiting period" necessary before a lawsuit may be filed. 1 Comment [Financials]
  • 2:10 PM Jive Software (JIVE +4.6%) spikes midday after reports surface that SAP considered buying the company over the past several weeks but ultimately decided against the move due to product overlap. (Bloomberg) Comment! [Tech, M&A, On the Move]
  • 2:02 PM Judges in France are questioning the CEO of UBS' French unit in what may be a prelude to a formal investigation regarding investments "designed to cheat the taxman," sources tell Reuters. Comment! [Financials]
  • 2:01 PM Polypore International (PPO -2%) slips on a tepid initiation at Ascendiant Capital with a Neutral and a $45.50 price target. The firm says the stock is trading a premium to its peers, and appears fairly valued based on current metrics. Also adding to the weakness in the shares today could be the plunge in Exide (XIDE -43%). Comment! [On the Move]
  • 2:00 PM On the hour: Dow -0.05%. 10-yr +0.05%. Euro -0.1% vs. dollar. Crude -0.1% to $94.16. Gold -0.36% to $1386.85. Comment!
  • 1:53 PM PrivateBancorp (PVTB) declares $0.01/share quarterly dividend, in line with previous. Forward yield 0.20%. For shareholders of record June 14. Payable June 28. Ex-div date June 12. (PR) Comment! [Dividends]
  • 1:50 PM More on Bausch & Lomb/ Valeant (VRX +12.8%): Warburg Pincus may agree to terms with VRX as early as next week, but sources tell WSJ the deal could still fall apart. If the deal fails to come to fruition, Warburg may opt for an IPO of Bausch & Lomb instead, something the private-equity firm has mulled since early this year. Comment! [Healthcare, M&A, On the Move]
  • 1:40 PM Add KKR and Silver Lake Management to the list of bidders for Hulu (CMCSA, DIS, NWS), according to Bloomberg. Earlier reports indicated Time Warner Cable (TWC -0.8%), Guggenheim Digital, and DirecTV (DTV -0.6%) are in the hunt. What to watch: Some analysts think Hulu could evolve into a payment authentication system for the cable industry, while others bet that a single media/tech company will snap up the firm to create a unique position for itself in video - either as a premium streaming service or an ad-supported content monster. Either way Netflix (NFLX -0.5%) is watching. Comment! [Consumer, Tech]
  • 1:39 PM Hydrogenics (HYGS +14%) adds to yesterday's gains for a two-day rally of ~28% as SA Pro author Joe Springer's article comes out of embargo. (previous) Comment! [Energy, On the Move]
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TOP ARTICLES2:16 PM ET FRIDAY MAY 24
DIA -0.03%
SPY -0.16%
QQQ -0.15%
GLD -0.34%
ETF Movers
CCXE WisdomTree Commodity Country Equity ETF 1.50%
BUND PIMCO Germany Bond Index ETF 0.74%

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