- AT&T (T) may be more inclined to deal for EchoStar's (DISH) after yesterday's spin-off, because a pre-spinoff deal would have triggered a hefty tax payment. [The new company, EchoStar Holding (SATS), holds the technology and satellite-infrastructure assets. Shares soared 73% Wednesday.]
- Shares of Jackson Hewitt Tax Services (JTX) dropped 14.4% after the IRS said it may ban tax preparers from offering customers refund loans and audit insurance, which may ecourage tax fraud. H&R Block (HRB) is off 3.7%.
- VMWare (VMW) jumped suddenly at 1:00 PM on rumors of a large contract win.
- Slowing earnings growth in important sectors, high valuation and weak performance may derail a Chinese stock market boom in which companies earn a significant portion of their profits from stock market gains.
- Despite a Bear Stearns note to the contrary, Rupert Murdoch's (NWS) plan to free up the Wall Street journal adds up.
- Midway Games (MWY) is considering a merger with with SCi/Eidos. Midway's brands include Mortal Kombat, Unreal Tournament and Stranglehold. SCi owns Hitman and Tomb Raider.
- After a recent price drop, NAND flash memory prices appear to be settling. January demand seems solid.
- Evergreen Solar (ESLR) is up 4% on rumors of a GE (GE) takeover. This has been rumored in the past.
- GM (GM) will not be able to build enough new Chevrolet Malibus to meet demand before the spring. Analysts say this is a good problem for GM, which looks to draw customers from Toyota's (TM) Camry and Honda's (HMC) Accord.
- Specialty stores such as True Religion (TRLG) saw no evidence of a consumer slowdown this holiday season.
- Polo Ralph Lauren (RL) shares are up 2% on chatter Warren Buffett has taken a stake in the company.
- Plaxo, an early social networking site with per-visit numbers comparable to Facebook, is for sale. Some say it could fetch upwards of $100M, which has others wondering why it's using relative unknown Revolution Partners as an advisor, and not one of the big boys.
- Countrywide (CFC) is cutting 127 jobs in Illinois. The company is under investigation by the Illinois AG for predatory and possibly fraudulent lending practices.
- There are rumors Yingli Green Energy (YGE) won a Turkish government contract. Yesterday, YGE was named Collins Stewart's top pick for 2008, which says YGE trades at a significant discount to peers despite competitive advantages.
- The next buyout to fall through could be Reddy Ice (FRZ), due to the deal's low $21M reverse termination fee.
- AIG (AIG) is in the lead to acquire National Grid's (NGG) £700M mixed use and residential portfolio, a move that would increase AIG's UK property and infrastructure holdings significantly.
- Rapper Jay-Z may launch a record label with Apple (AAPL).
