Wed, Sep. 21, 11:20 AM
- The SEC just charged Leon Cooperman with insider trading over Atlas Pipeline Partners, and Omega holdings such as Alitsource Portofolio, Navient, Aercap, and Tribune Media have knee-jerked sharply lower.
- A check of other top Omega holdings: First Data (FDC -1.3%), Allergan (AGN -0.9%), AIG (AIG +0.4%), Walgreens (WBA -0.6%), Dow Chemical (DOW), United Continental (UAL -0.7%), Ashland (ASH +0.3%), Chimera Investment (CIM -0.4%), Motorola (MSI +0.1%), HRG Group (HRG -1%), Microsoft (MSFT +1%), E*Trade (ETFC), New Residential (NRZ -1%), OneMain Holdings (OMF -2.3%), PVH (PVH +0.4%), UnitedHealth (UNH +0.7%), MGM Resorts (MGM -0.5%), New Media (NEWM -1.9%), Dish Network (DISH +0.5%), Synchrony Financial (SYF +1%), Eastman Chemical (EMN +0.3%).
- Previously: Cooperman holdings head south after insider trading charge (Sept. 21)
- Previously: Leon Cooperman charged with insider trading (Sept. 21)
Tue, Aug. 9, 8:32 AM
Mon, May 9, 8:36 AM
Fri, Feb. 5, 8:34 AM
- Harbinger (NYSE:HRG): FQ1 EPS of $0.06
- Revenue of $1.22B (+10.9% Y/Y)
Dec. 28, 2015, 6:37 PM
Nov. 20, 2015, 8:34 AM
- Harbinger (NYSE:HRG): FQ4 EPS of -$0.73
- Revenue of $1.45B (-4.0% Y/Y)
Oct. 9, 2015, 1:22 PM
Oct. 9, 2015, 12:27 PM
- HRG Group (HRG +0.6%) agrees to sell gas fields in Louisiana and Texas, including drilling rights across ~90K acres and ~34M cf/day of production, to privately-held Indigo Minerals for $160M in cash.
- HRG says the deal reflects the high quality of the assets and prospectivity of the Cotton Valley formation for horizontal exploitation.
- Omar Asali, former co-head of hedge fund strategies at Goldman Sachs, has sought to refocus operations since becoming HRG's CEO this year.
Oct. 2, 2015, 4:56 AM
- China' Anbang Insurance Group is the favorite to win an auction to acquire Des Moines company Fidelity & Guaranty Life (NYSE:FGL), Reuters reports.
- Fidelity, whose market cap is $1.5B, is controlled by financial-interests holding company HRG (NYSE:HRG), which said in April that it was exploring a sale of its 80.6% stake in the subsidiary.
- If it buys Fidelity, Anbang would join other Chinese insurers that have entered the U.S. market.
Aug. 28, 2015, 1:23 PM
- HC2 (NYSEMKT:HCHC) offers more value today than just after Phil Falcone took control of what was then a liquidating entity named PTGI Holding, writes Brad Kern.
- The stock then (March 2014) traded for $3.70 and subsequently ran up to as high as $13 a year later. Since, the stock lost about 50% of its value, in part thanks to a failed bid for MCG Capital, and worries Harbinger Group (NYSE:HRG) would seek to unload the rest of its 4.7M share stake (HRG sold more than 1M shares as the stock price cratered over the past weeks).
- By Kern's SOTP analysis, HC2 has a mid-range NAV of $10.33 vs. last night's close of $6.33. The shares are higher today by 11.1% to $7.03.
Aug. 6, 2015, 4:11 PM
- Harbinger (NYSE:HRG): FQ3 EPS of -$0.38
- Revenue of $1.55B (-3.1% Y/Y)
May 8, 2015, 8:33 AM
- Harbinger (NYSE:HRG): FQ2 EPS of -$1.16
- Revenue of $1.4B (+4.5% Y/Y)
Feb. 6, 2015, 8:35 AM
- Harbinger (NYSE:HRG): FQ1 EPS of -$0.56.
- Revenue of $1.44B (-4.6% Y/Y).
Jan. 23, 2015, 9:34 AM
- Harbinger (NYSE:HRG) will report FQ1 results on Feb. 6.
- The conference call is scheduled to begin at 10.00 a.m. ET.
- Consensus view unavailable.
Nov. 25, 2014, 4:24 PM
- Leucadia National (NYSE:LUK) has added another 5M shares to its holdings of Harbinger Group (NYSE:HRG), bringing its stake in the firm up to 22%, reports Bloomberg.
- Previously: Phil Falcone to leave Harbinger Group
- Harbinger closed higher by 3.6% in the regular session following news of Falcone's exit. HC2 Holdings (OTCQB:HCHC), where Falcone will apparently be able to concentrate more of his considerable deal-making skills, closed higher by 6.8%, and is now more than a double in the less-than-three months since SA Pro's Whopper Investments brought the barely-followed name to the attention of investors.
Nov. 25, 2014, 1:18 PM
- Phil Falcone is resigning as CEO and Chairman of Harbinger Group (HRG +1.2%) effective Dec. 1, when he is expected to focus the continuing liquidation of his Harbinger Capital Partners hedge fund, developing HC2 Holdings (OTCQB:HCHC) and fighting for assets in the Lightsqaured bankruptcy proceeding.
- Falcone became one of the investing stars of the financial crisis after anticipating the housing collapse, and at one point managed $26B; last year, he was barred from the industry for at least five years as part of a settlement with U.S. regulators after improperly borrowing money from his fund to pay his personal taxes and giving preferential treatment to some investors.
- Board member and Leucadia National (NYSE:LUK) Chairman Joseph Steinberg will become HRG's chairman, and the company will launch a search for a new CEO.