Morgan Stanley Under Fire Over Facebook IPO - And Other News Told In Charts
Morgan Stanley Gets Hit With Scrutiny And Subpoena
Facebook's (FB) blown IPO has investors and regulators sharpening knives, and they're pointing at lead underwriter Morgan Stanley (MS). Regulators at the Financial Industry Regulatory Authority, as well as Massachusetts Secretary of the Commonwealth William Galvin, are looking into whether the bank tipped off some but not all clients to a negative report prior to the offering, says the AP. Meanwhile Morgan Stanley’s shares are trading all of $2 above their 52-week low.
Dissident Investor Stirs The Pot At AOL
If Arriana Huffington’s not going to do it, a dissident investor is out to fix AOL’s (AOL) local news network Patch.com – and, by extension, its parent. The investor, Starboard Value, isn’t enthralled by the whole idea of investing heavily in content, according to the Wall Street Journal. So it's lobbying for seats on the company’s board, across the table from chief Tim Armstrong. Unfortunately for Armstrong, AOL revenue growth rate remains negative.
Ford Gets Its Credit Rating Back
Moody’s upgraded Ford’s (F) debt, allowing the maker of Mustangs (and a few other cars and trucks, of course) to reclaim its logo and other assets it hocked six years ago to avoid bankruptcy, reported the Detroit Free Press. Apparently one thing it learned in the junkyard was how to cut debt:
SAP Spends $4.3 Billion to Annoy Larry Ellison
Software makers and cloud computing aspirants SAP (SAP) and Oracle (ORCL) may soon be in a bidding war. SAP is buying cloud computing company Ariba (ARBA) for $4.3 billion, says Reuters. But since Ariba’s customers use Oracle services, expect Larry Ellison to make a rival bid, predicts an analyst. In this war, Ellison’s got more firepower:
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