Today’s Company News Highlights: UBS Slashes Jobs, Ebay To IPO Skype, Goldman Downgraded
By Zacks Investment Research on April 15, 2009 | More Posts By Zacks Investment Research | Author's Website
UBS (UBS) announced plans to slash 8700 employees, or 11% of its global workforce, after reporting quarterly losses of almost $1.7 billion that resulted from illiquid risk positions and credit losses
Rio Tinto (RTP) announced a debt sale of $2 billion 5-year notes and $1.5 billion 10-year notes. The company predicted production of about 200 million tons in 2009 on continued demand from China in the second half
EBAY (EBAY) said its plans to spin off its online phone arm, Skype, in an IPO next year that could be worth over $2 billion
Media reports suggest the Administration is mulling over a swap of the $13.4 billion it loaned General Motors (GM) for equity ownership in a restructured entity, hoping for similar concessions from bondholders and the UAW
Reports said Yahoo (YHOO) is planning additional layoffs.
Goldman Sachs (GS) was downgraded by JP Morgan (JPM) to “neutral” from “overweight” on valuation considerations
Fiat CEO Marchionne warned he is “prepared to walk” should concessions from unions not materialize
Procter and Gamble (PG) increased its payout for the 53rd consecutive year 10% to 44 cents per share quarterly
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