Market Currents

• Tuesday, December 22, 2009

• 11:03 AM Bill Ackman says Hovde's analysis of General Growth Properties (GGWPQ.PK) - which led it to believe its assets no longer exceed its debt - is materially flawed, and thinks the bankruptcy creates a once-in-a-lifetime opportunity for a large strategic buyer (BAM, SPG...). 1 Comment

• Tuesday, May 5, 2009

• 08:27 AM Lenders say General Growth Properties (GGP) overreached in its bankruptcy, including in its reorganization of some shopping malls without any financial problems. Lenders want the court to dismiss the Chapter 11 filing on these properties. 1 Comment

• Friday, April 17, 2009

• 11:31 AM It wasn't the big lenders that forced General Growth Properties (GGP) into bankruptcy court; it was the small fry that couldn't be placated. "Its capitulation is a warning sign for tens of thousands of owners of office buildings, shopping centers, hotels and other commercial property." 3 Comments

• Thursday, April 16, 2009

• 10:49 AM General Growth Properties' (GGP) Chapter 11 sends shares of mall REITs diving as investors wonder "Who's next?" GGP -15.2%. MAC -5.3%. CBL -4.5%. DDR -2.7%. 1 Comment
• 09:01 AM Premarket gainers: GMKT +19%. GCI +19%. UIS +15%. NOK +12%. HOG +11%. QTM +11%. JAVA +10%. ATVI +8%. HBAN +8%. AIG +8%. ISRG +7%.
  Losers: GGP -15%. AIB -11%. CIM -6%. DRE -5%. Comment!
• 07:15 AM Mall giant General Growth Properties (GGP) files for bankruptcy, marking one of the largest-ever real estate failures in U.S. history. Shares -57.2% premarket to $0.45. Comment!

• Tuesday, April 7, 2009

• 09:02 AM Premarket gainers: GGP +10%. EAT +9%. SPIL +8%. LNC +8%. GFI +4%. GTI +4%. AU +3%.
  Losers: ACGY -7%. RBS -7%. DB -6%. NOK -6%. MT -6%. IHG -6%. HBAN -5%. UBS -5%. BCS -5%. LVLT -5%. ALU -5%. ACAS -4%. FITB -4%. GNW -4%. BHP -4%. LVS -4%. GNW -4%. JAVA -4%. LOGI -4%. F -4%. CCL -4%. STO -4%. X -4%. VTR -4%. HBC -4%. ASML -4%. BP -4%. SAY -4%. Comment!

• Thursday, April 2, 2009

• 08:08 AM Everyone says retail is frozen, malls are dead, and mall REITs like General Growth Properties (GGP) are finished. But Macerich (MAC) just got $450M in new money. 4 Comments

• Monday, March 30, 2009

• 09:07 AM General Growth Properties (GGP) ends its effort to get a reprieve from bondholders after its proposal failed for the third consecutive week. (PR) GGP -15% to $0.56 premarket. 1 Comment
• 09:00 AM Premarket gainers: LMC +6%. GGP +3%. FITB +3%.
  Losers: ARNA -32%. GM -20%. LNC -18%. MTW -15%. ING -13%. DRYS -13%. BCS -11%. EXM -10%. JASO -10%. LYG -9%. ESLR -9%. ACAS -9%. AIG -8%. CNB -9%. GPM -9%. C -9%. TCK -8%. ASX -8%. ENER -8%. LDK -8%. BAC -8%. ETFC -8%. ERX -7%. CENX -7%. HBAN -7%. GBM -7%. FSLR -7%. MT -7%. STP -7%. HIG -7%. YGE -7%. BHP -6.5%. X -7%. HBC -6%. DB -6%. UBS -7%. LVS -6%. AMR -6%. Comment!

• Thursday, March 26, 2009

• 09:00 AM Premarket losers: BPL -5%. AXA -4%. GGP -3%. Comment!

• Monday, March 23, 2009

• 09:00 AM Banks and asset managers - beneficiaries of the Treasury's plan - are spiking in premarket trade: CNB +37%. GGP +36%. DPTR +35%. LYG +34%. FNM +33%. FRE +30%. ABK +25%. C +21%. BCS +20%. ING +20%. AIB +18%. BAC +16%. CENX +15%. HBAN +15%. IFX +13%. FITB +12%. RTP +12%. STI +11%. USB +11%. ETFC +10%. GNW +10%. BX +10%. RF +9%. WFC +10%. 3 Comments

• Thursday, March 19, 2009

• 09:01 AM Premarket losers: ARE -9%. GGP -8%. DDR -7%. NKE -4%. FDX -4%. JAVA -3%. UPS -3%.AU -3%. Comment!

• Tuesday, March 17, 2009

• 09:03 AM Premarket gainers: FRE +12%. IVAN +11%. SIRI +11%. CLNE +9%. AIG +7%. GGP +8%. FNM +7%. C +6%. LEN +5%. HIG +5%. DRYS +4%. NU +4%. CEPH +4%. UBS +4%. Comment!

• Tuesday, March 10, 2009

• 09:02 AM Premarket gainers (brace yourself): BCS +20%. LVS +20%. ING +19%. GGP +18%. C +18%. DB +15%. ABK +15%. HBAN +15%. FITB +14%. BAC +14%. RMBS +14%. UBS +14%. HIG +13%. COF +13%. CS +12.5%. WFC +12%. RTP +12%. TC +12%. HBC +11%. Comment!

• Tuesday, February 24, 2009

• 07:15 AM General Growth Properties (GGP): Q4 FFO of $0.70 misses by $0.15. Revenue of $1B (-2.8%) vs. $830M. Shares +16.7% AH. (PR) (-from Mon. evening) Comment!