Breaking News,Equities Real Time News items

• GS gets approval to become Financial Holding Company...that's versus Bank Holding Company they morphed into last yearPosted:20/08/2009 19:41 GMT by NeedToKnowNews
  GS change in status needed to allow for I-banking functions and ability to sell insurance. Recall Blankfein had said that GS conversion to a BHS last fall would change nothing ...so this is really just a paperwork function.
  
• S&P - Wynn First Mortgage Notes Rating Cut To 'BB+' (Recovery: 2); 'BB' Corporate Credit Rating AffirmedPosted:18/08/2009 18:49 GMT by NeedToKnowNews
  -- Strength of Wynn's liquidity position, debt maturity profile continue to support rating, despite credit measures that are weak for the current rating.
  -- S&P affirming 'BB' corporate credit rating on Wynn, but revising our recovery rating on Wynn Las Vegas LLC's first mortgage notes to '2' from '1'.
  -- Negative outlook reflects expectation the company's credit measures will remain weak for the rating over the next several quarters given competitive and economic pressures in Las Vegas and Macau.
  
• Worst Performing Single Name CDSPosted:11/08/2009 20:08 GMT by NeedToKnowNews
  UAL up 343bps, Ono Finance up 88, AMR up 72, Thomson up 61, CIT up 60, Ineos Group up 51, Rallye SA up 36
  
• Best Performing Single Name CDSPosted:11/08/2009 20:06 GMT by NeedToKnowNews
  Realogy down 414bps, Financial Guaranty Insurance down 352, Clear Channel down 350, FGIC down 278, ABK down 160, Continental Airlines down 148, Jetblue down 138, Knight Ridder down 110.
  
• Lockhart's timely warning on Commercial Real Estate just in time for earnings dependent (to some degree) on same; RF, KEY, ZIONsPosted:20/07/2009 19:54 GMT by NeedToKnowNews
  ZION is after the close today - expected -1.02 RF is tomorrow; expected earnings are at -0.23 KEY is on Wednesday; expected is -0.41
  All are vulnerable on Commercial Real Estate.
  
• Market reaction muted to as expected GDP at -5.7%; PCE off sharply at 1.5% vs 2.0% previouslyPosted:12/07/2009 12:06 GMT by NeedToKnowNews
  Dow Jones futures are little changed in the wake of as expected headline GDP data. A closer look at the data - specifically Personal Consumption - could put equities under pressure but with Michigan Confidence and Regional NAPMs coming, equities may just drift lower hoping for better than expected readings on the later data.
  
• AOL may be spun off at TWX Board meeting on ThursdayPosted:14/07/2009 6:01 GMT by NeedToKnowNews
  Talk is again emerging that Time Warner will spin off AOL in an effort to rid itself finally of the ill-fated combination from so many years ago. TWX rallied strongly y/day, closing over the 200 day moving average at 23.37. The stock is trading up 33 cents this morning at $23.66 on 2.8mln shares.
  
• Retiree Benefits to be cut immediately - WSJ onlinePosted:15/07/2009 1:41 GMT by NeedToKnowNews
  WSJ reporters Treasury insisted on cuts immediately.
  
• GM: We may fail to comply with NYSE listing requirementsPosted:10/07/2009 16:41 GMT by NeedToKnowNews
  The company says it's common stock must be worth at least $1 for 30 consecutive trading days.
• Equities selling off after Obama's "strengthen unions" commentPosted:09/07/2009 15:52 GMT by NeedToKnowNews
  Dow futures fell 30 points as Obama spoke of the new Labor Secretary.