Market Currents

• Tuesday, November 17, 2009

• 11:30 AM Investors get more ways into Build America Bonds - the subsidized muni bond program - as Eaton Vance (EV) launches a mutual fund dedicated to the debt, and Invesco (IVZ) kicks off its BAB portfolio ETF. The bonds have taken off quickly, as volume crossed the $50B mark this month, but they may end up costly to the government. (previously) 1 Comment

• Tuesday, October 20, 2009

• 09:53 AM Invesco (IVZ): Q3 EPS of $0.24 in-line. Revenue of $706M vs. $687M. Shares +3.6% premarket. IVZ announced yesterday it would acquire Morgan Stanley's (MS) retail asset management business, including Van Kampen Investments." Shares +3.8%. (PR) Comment!

• Monday, October 19, 2009

• 19:22 PM As expected, Invesco (IVZ) will buy Morgan Stanley's (MS) Van Kampen fund unit, for $1.5B - $500M in cash, and Morgan Stanley will take a 9.4% stake in Invesco. The deal, expected to close mid-2010, will remove some sales limits that Van Kampen managers faced since the Morgan Stanley Smith Barney JV closed. Comment!

• Friday, October 2, 2009

• 07:40 AM Sources say mutual-fund manager Invesco (IVZ) is the lead candidate to acquire Morgan Stanley's (MS) Van Kampen fund unit. Morgan Stanley is looking to sell a majority stake in Van Kampen for $1-$2B. Comment!

• Wednesday, September 30, 2009

• 15:45 PM Treasury seen launching its long-awaited PPIP toxic asset soak-up scheme this week, and according to a Breaking News headline on WSJ, investors have so far agreed to plow more than $1.13B into the plan. Update: Two funds, Invesco (IVZ) and TCW Group have so far raised enough to enter the program; their $1.13B will give them $4.52B in buying power. Comment!

• Wednesday, September 2, 2009

• 09:11 AM Sources say Morgan Stanley (MS) is looking for a very large partner with whom to share its $86B Van Kampen mutual-fund business in a JV, instead of selling the unit as had been assumed. Possible good fits include: Invesco (IVZ), Franklin Resources (BEN), Aberdeen, Federated Investors (FII) and Nuveen. Comment!

• Tuesday, June 2, 2009

• 11:16 AM Invesco (IVZ) opens a balanced mutual fund that aims to protect investors when financial markets fall. Designed to 'balance risk,' the fund will invest 60% in fixed-income securities, 20% in stocks and 20% in commodities. Comment!

• Saturday, May 2, 2009

• 23:58 PM Invesco (IVZ) announced late Friday that it will close 19 of its PowerShares ETFs, representing less than 1% of its total assets. [PR] Comment!

• Thursday, April 23, 2009

• 00:05 AM Notable earnings before Thursday's open: ABC, ALXN, AN, AVT, BDK, BG, BLL, CBE, CIT, CLS, CME, CNX, COP, CP, DHR, DO, EMC, ESI, ESV, EXC, FITB, GMT, GR, HSY, IGT, IVZ, JNS, LCC, LLL, MAR, MI, NCR, NCX, NIHD, NOV, NUE, OMTR, OXY, PENN, PM, PNC, POT, RCL, RS, RSH, RTN, RX, SCG, SEIC, SIAL, STI, SU, SVU, TCB, TMO, UNP, UPS, ZMH 1 Comment

• Friday, January 30, 2009

• 07:50 AM Invesco (IVZ): Q4 EPS of $0.17 in-line. Revenue of $634M (-23.3%). (PR) Comment!
• 00:05 AM Notable earnings before Friday's open: ACI, AME, AXL, CVX, GCI, HON, IVZ, PCAR, PG, SPG, XOM
    Comment!

• Wednesday, October 29, 2008

• 08:03 AM Invesco (IVZ): Q3 EPS of $0.33 misses by $0.01. Revenue of $839M (-14.1%) in-line. (PR) Comment!
• 00:05 AM Notable earnings before Wednesday's open: AET, AG, AGN, ALO, ANR, BPO, BWA, CINF, CMCSA, GLW, GRMN, GW, HERO, HES, IMA, IVZ, JNY, K, KEM, KFT, LAZ, LM, MCO, MGM, MWV, NBL, NEM, NXY, NYB, OC, ODP, PG, PX, Q, SEE, SHPGY, SLAB, SNE, SPR, SPW, SU, TSO, VPHM, WEC, WPI Comment!

• Thursday, August 14, 2008

• 09:07 AM Invesco (IVZ) +6.75% premarket on news it's replacing IAC/Interactive (IACI) in the S&P 500. IAC down 4.1%. Comment!

• Thursday, July 24, 2008

• 00:02 AM Notable earnings before Thursday's open I: ABC, ABI, AN, ASH, AUO, BBI, BBW, BC, BDX, BEN, BG, BMY, BNI, CACH, CBE, CELG, CPS, DAI, DO, DOW, ECA, ECL, ELN, ESI, ESV, EVR, F, FCL, FLIR, FRZ, GR, HOT, HTV, IMCL, IVGN, IVZ, JNS, KCI, KMB Comment!