Wall Street Addict

To whom it may concern,
My name is Garrett Benner and I’m an associate with Benner & Piperato in Eastern Pennsylvania, USA. I currently represent a real estate developer who is looking to sell a fully approved 125 lot residential housing subdivision. All lots are approximately 1- acre. The reason for the sale has to do with lack of capital to make improvements (roads, drainage, etc). The approximate cost of improvements are $5 million. The location of the project is a 40 minute drive from Philadelphia, PA and approximately a 1 hour drive from New York City. The market value of these lots based on comparable sales are anywhere from $300-500k. It is the last tract of developable land left in the area known as Saucon Valley. The location of this project in relation to Saucon Valley country club also adds a significant amount of value to potential homebuyers (1/2 mile). Please let me know if you would be interested in such a project. I do feel there is value in this project due its location and overall reason for the sale. Let me know if I can send you more information on the project. I hope to hear from you.

Sincerely,
Garrett R. Benner
610-867-3900

Labels: distressed real estate, Garrett Benner, Real Estate, real estate investment, US direct investment

ConAgra Foods Incorporated says its third-quarter profit soared 60 percent as it raised prices and improved sales. The year-ago results were depressed by recall costs, however.
ConAgra also announced Thursday that it plans to sell its commodities trading group to the Ospraie Special Opportunities fund for $2.1 billion in cash and stock.
In the third quarter, ConAgra reported net income of $309 million, or 63 cents per share. That's up from roughly $193 million, or 38 cents per share, a year ago when ConAgra was recalling its Peter Pan peanut butter.

Labels: CAG, ConAgra Foods Inc.

Fortress Investment Group (NYSE:FIG) reported a loss for the fourth quarter, missing estimates by a wide margin. FIG's Short Term PowerRating is 3.
Shares of Penn National Gaming (NasdaqGS:PENN) rose after Fortress Investment Group said it still plans to buyout the casino operator. PENN's Short Term PowerRating is 3.
Monsanto (NYSE:MON) jumped 9.9% after the company raised its 2008 full-year earnings guidance. MON's Short Term PowerRating is 5.
MGIC Investment (NYSE:MTG) fell 7.9% after the mortgage insurer needed to raise $745 million via a stock and debt sale. The company reported a record loss in Q4. MGIC's Short Term PowerRating is 5.
The Wall Street Journal reported the $19 billion deal to take Clear Channel (NYSE:CCU) private was near collapse, due to the credit crisis. CCU's Short Term PowerRating is 4.
Yahoo! (NasdaqGS:YHOO) rose after Citigroup issued a "buy" note in expectation of a higher bid from Microsoft. YHOO's Short Term PowerRating is 5.
After the close, Jabil Circuit (NYSE:JBL) beat estimates by $0.02 but lowered guidance for the third quarter. JBL's Short Term PowerRating is 6.

Labels: CCU, FIG, JBL, MON, MTG, PENN, Stocks to Watch, YHOO

JPMorgan Chase & Co.'s higher offer for Bear Stearns on Monday gave the investment bank control of nearly 40 percent of its ailing rival, blunting the threat that angry shareholders could scuttle the deal.
The $2.4 billion lifeline to rescue the investment house stands a strong chance of success -- assuaging investors unhappy with a $2 per share offer by upping it to $10 apiece. JPMorgan has faced an outcry among Bear Stearns shareholders about the lowball offer, and faced the possibility that rival deals would begin to surface.
Most analysts said a higher bid was unlikely, but some bondholders have reportedly been buying the stock in order to ensure their right to vote for a deal and prevent a bankruptcy that would wipe them out. Bear Stearns' shares -- which hit $160 last year and still traded near $80 earlier in the month -- nearly doubled to $11.25 on Monday.

Labels: Bear Sterns, BSC, JP Morgan Chase And Co., JPM

JPMorgan Chase said Sunday it will acquire rival Bear Stearns for a bargain-basement $236.2 million - or $2 a share - a stunning collapse for one of the world's largest and most storied investment banks.
The last-minute buyout was aimed at averting a Bear Stearns bankruptcy and a spreading crisis of confidence in the global financial system.
"This is going to go down in very historic terms," said Peter Dunay, chief investment strategist for New York-based Meridian Equity Partners. "This is about credit being overextended, and how bad it is for major financial institutions and for individuals. This is why we're probably heading into a recession."
At almost the same time as the deal for control of Bear Stearns was announced, the Federal Reserve said it approved a cut in its lending rate to banks to 3.25 percent from 3.50 percent and created another lending facility for big investment banks. The central bank's official meeting is on Tuesday. Before the emergency move to lower the discount rate, which is the rate at which banks lend each other money, the Fed was widely expected to again cut its headline rate by as much as a full point to 2 percent.
Why is there such urgency to hold a weekend meeting to cut this important rate. There is no question that there are way more problems on the street than what is being publicized in the media. Tomorrow will mark the day when all of my dollars will be converted to Euros. Best of luck this week in the markets. May God be with us.

Labels: Bear Sterns, Bear Sterns Bankruptcy, BSC, Credit Crisis, Emergency Cut, Federal Reserve, JP Morgan Chase And Co., JPM, Rate Cut

Falling markets in Europe and Asia led to an early selloff in the U.S., with disappointing retail sales data and credit worries setting the tone. However, an afternoon rally erased the losses and stocks closed higher.
The Dow rose +35.50, the Nasdaq Composite +19.74, and the S&P 500 +6.71.
Here are 7 stocks to watch...
The Wall Street Journal reported Bear Stearns (NYSE:BSC) is "facing increasingly tough trading conditions." BSC was the biggest decliner in the S&P 500, falling nearly 8%. BSC's Short Term PowerRating is 7.
Aspect Medical Systems (NasdaqGS:ASPM) plunged more than 45% after a report in the New England Journal of Medicine said the company devices were ineffective.
Humana (NYSE:HUM) gained more than 10%, after losing nearly 14% yesterday. HUM's Short Term PowerRating is 8.
After the close, Aeropostale (NYSE:ARO) beat earnings estimates by $0.05. ARO's Short Term PowerRating is 5.
Before the market open, AnnTaylor Stores (NYSE:ANN) is expected to reports earnings of $0.20. ANN's Short Term PowerRating is 4.
Electronic Arts went hostile in its takeover bid for Take Two Interactive Software (NasdaqGS:TTWO), offering shareholders $26 per share. TTWO's Short Term PowerRating is 8.
Do you think Electronic Arts (NasdaqGS:ERTS) will close up or down on Friday? ERTS' Short Term PowerRating is 4. Go to TradingMarkets.com to play our Up or Down Daily Stock Contest for the chance to win $1000 every month by predicting the direction of a stock.

Labels: ANN, ARO, ASPM, BSC, ERTS, HUM, Stocks to Watch, TTWO

Stocks erased heavy early losses to close mixed on Tuesday. The Dow lost -45.10, the S&P 500 -4.59, while the Nasdaq Composite gained +1.68.
Here are 7 stocks to watch...
Citigroup (NYSE:C - News) lost more than 4% after analysts at Merrill Lynch lowered their earnings forecast for the company. C's Short Term PowerRating is 7.
Intel (NasdaqGS:INTC - News) worried investors after the company lowered its outlook for the current quarter. INTC's Short Term PowerRating is 5.
Staples (NYSE:SPLS - News) reported earnings of $0.47 per share, in-line with estimates. SPLS' Short Term PowerRating is 5.
Clearwire (NasdaqGS:CLWR - News) reported much worse than expected results. The company's earnings were -$4.58 per share, versus expectations of -$1.01. CLWR's Short Term PowerRating is 6.
Chico's FAS HS is scheduled to report before the market open tomorrow. Analysts are expecting a Q4 2007 loss of -$0.15 per share. CHS' Short Term PowerRating is 4.
Also before the open, BJ's Wholesale Club (NYSE:BJ - News) is expected to report earnings of $0.74 per share. BJ's Short Term PowerRating is 4.
Do you think Barrick Gold (NYSE:ABX - News) will close up or down on Thursday? ABX's Short Term PowerRating is 6. Play TradingMarkets Up or Down Daily Stock Contest for the chance to win $1000 every month by predicting the direction of a stock.

Labels: ABX, BJ, C, CLWR, INTC, SPLS, Stocks to Watch