AVEO Pharmaceuticals Inc., a Cambridge, Mass.-based oncology drug company, raised around $81 million via its IPO. The company priced nine million shares at $9 per share, compared to plans to sell seven million shares at between $13 and $15 per share.
The company will trade on the Nasdaq under ticker symbol AVEO, while J.P. Morgan and Morgan Stanley served as co-lead underwriters.
Read more »Sarbanes-Oxley was supposed to prevent crap like this:
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Read more »The just-released examiner’s report of the Lehman (LEHMQ.PK) collapse reads like the financial crisis equivalent of the 9/11 Commission Report.
WSJ has hosted the 2,200 page document in 9 parts on Scribd.
Read more »Kevin Drum has a couple of good questions about credit default swaps, and the final link in his post literally made me laugh out loud, so I’ll do my best to answer him.
Read more »Many thanks to Tim Fernholz, of The American Prospect, and Taylor Griffin, of Hamilton Place Strategies, for helping me out via IM yesterday afternoon to explain to me what on earth is going on with Chris Dodd and the financial regulatory reform bill. The Reuters headline says that talks have failed, and that Dodd is going solo, but in fact it’s not quite as bleak as that.
Read more »One year ago this week many were wondering if the economy was going to collapse. The market found itself at 666 on the S&P. Most investors had once again lost 50% of their life savings for the second time in less than 10 years.
I was seriously worried that we were not going to be able to break out of the economic "death spiral" that started in the fall of 2008.
Amusing how Bloomberg comes out pumping the CDS monster:
March 11 (Bloomberg) -- European politicians and regulators could initiate a continent-wide ban on speculative trading of sovereign credit-default swaps tomorrow. Making it stick without the Americans won’t work.
Read more »Judging by the mood of the market, buying real estate stocks would have to be up there with the most dumbest of things to do! Yet seemingly against all odds the real estate sector, in its various shapes and forms, is one of the star performers of the stock market this year. What is driving this behaviour? I guess the media of popular opinion will inform us over the weeks to come as to the “real” reasons. Our suspicions are that the price performance is more to do with inflationary fears than anything else.
Read more »Sometime soon we will get a bill from the Senate on financial reform. Your natural reaction will be to compare it to Barney Frank’s bill that was passed mid-December. Which parts of this financial reform bill are stronger compared to Frank’s bill, which are weaker?
That’s not going to be a good comparison point: The interesting comparison for me is how similar it will be with the House GOP financial reform bill that never got to the floor.
Read more »The Treasury announced Wednesday that it has received net proceeds of $15.4 million from the sale of warrants it obtained as part of its investment in Washington Federal Inc. (WFSL) through the Troubled Asset Relief Program (TARP) during the height of the financial crisis. In May 2009, WFSL repaid the entire $200 million of bailout money it had received from the government.
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