News, analysis and personal reflections on the markets & the financial sector

Monday, February 27, 2012

Trading firm Getco names CEO


(Crain's) — Trading firm Getco LLC today named Daniel Coleman CEO, effective immediately.

Mr. Coleman joined the Chicago-based firm in 2010. He previously was global head of equities at UBS.

“Daniel is perfectly aligned with our long-term vision of utilizing technology to transform how investors transfer risk,” Getco Co-founder Dan Tierney said in a statement Monday.

Mr. Tierney and co-founder Stephen Schuler will remain on Getco's board; Mr. Schuler takes the newly created position of executive director.

“Stephen and Dan built an amazing firm that has been a catalyst for positive change in the financial markets for the last 12 years," Mr. Coleman said in the statement

Getco was founded in 1999 and has 400 employees.

The Wall Street Journal reported Mr. Coleman's appointment Sunday.

Saturday, February 25, 2012

Reports this week (Feb 27)


Monday, Feb. 27
  • Mobile World Congress 2012
  • Pending Home Sales (January)
  • Armstrong World Industries (AWI)
  • Hovnanian Enterprises (HOV)
  • Lowes Companies (LOW)
  • Sotheby's (BID)
Reporting Monday: AES, AWI, ATRC, CCC, CHTR, CTB, DNDN, LOW, MTRN, KWK, SVNT, TREX, TRS, UNS, VRX, VC, XUE, VNET, AEGN, AMRS, CECO, CHMT, CLGX, CRAY, CVI, DPM, ENOC, ERT, GXP, HGSI, IL, JAZZ, KAMN, KAR, MRX, MR, PCLN, RWT, SLXP, SINA, SWN, SYKE, TWGP, UHS, URS, VNO, WES, ZAGG.

Tuesday, Feb. 28
  • Mobile World Congress 2012
  • Durable Orders (January)
  • Consumer Confidence (February)
  • Autozone (AZO)
  • Dominos Pizza (DPZ)
  • Dreamworks Animation (DWA)
  • Office Depot (ODP)
  • Universal Display (PANL)
Reporting Tuesday: ABVT, AMED, ARCC, ARIA, AMAP, AZO, BMO, CVC, CRZO, TAST, CDI, CRNT, GTLS, XTEX, DSX, DPZ, ECL, EP, EPB, FDML, FE, FIG, HSII, HFC, IPXL, IPCC, MGLN, MENT, BABY, NRG, NWN, ODP, OMG, OSG, PRX, PQ, POZN, RBA, RDC, SAFM, SDRL, SRE, SAH, SJI, TECD, THC, TTI, VIT, VPHM, VSI, WNR, XYL, APEI, ARI, AGO, BGFV, BTUI, PSS, CPNO, DWA, DY, ETM, EXAC, EXLS, FARO, FOE, GEVO, TEG, IRWD, JOEZ, JOG, LXU, MWE, NNI, BIN, QUAD, SGMS, STEC, SUNH, TTEC, RIG, PANL, VRSK, VOCS, WRC.

Wednesday, Feb. 29
  • Mobile World Congress 2012
  • MBA Mortgage Purchase Index
  • GDP - Second Estimate (4Q 2011)
  • Chicago Purchasing Managers Index (February)
  • Federal Reserve Beige Book (February)
  • Carter’s Inc. (CRI)
  • Costco Wholesale (COST)
  • Joy Global (JOY)
  • PetSmart (PETM)
  • Sodastream International (SODA)
  • Spreadtrum Communications (SPRD)
Reporting Wednesday: AH, AYR, AMRC, CRI, CNP, CEDC, COST, DRH, END, FCH, GPX, HPT, INXN, ISIS, ITT, JOY, LIZ, NOG, NXTM, OXF, PNM, RRMS, SFE, SODA, SPLS, STWD, WFT, YGE, BWC, BSFT, DVR, CWT, CWST, STV, FIX, CPIX, DGI, DRC, EIX, EEP, EPIQ, EXL, FNSR, GMXR, GEF, HTGC, HSFT, ICFI, KRA, LHCG, MMLP, MTZ, MBI, MDR, MDVN, PETM, QDEL, RJET, BOX, SSW, SIGM, STNR

Thursday, March 1
  • Mobile World Congress 2012
  • Weekly Initial Jobless Claims
  • Personal Income & Spending (January)
  • Construction Spending (January)
  • Institute for Supply Management Manufacturing Index (February)
  • Authentec (AUTH)
  • Big Lots (BIG)
  • Foot Locker (FL)
  • Kroger Co. (KR)
  • Motricity Inc. (MOTR)
Reporting Thursday: AIXG, ARQL, BIG, BRLI, CNSL, DIN, HEES, SNAK, JRCC, KR, MSO, MEI, NAFC, ORN, PETD, PRFT, PRIM, RNO, TD, VNR, WRI, FUR, ADUS, ALSK, AMSF, ASNA, AUTH, CBEY, CCSC, BAGL, ESL, FLOW, FL, IDSY, MITL, MOTR, NGD, MALL, SAATC, TPC.

Reporting Friday: GCO

Saturday, February 18, 2012

Madison Dearborn, Pritzkers selling credit rating firm TransUnion


(Crain's) — Credit reporting firm TransUnion Corp. is in a deal to be acquired by a buyout firm and a Goldman Sachs fund from owners Madison Dearborn Partners LLC and the Pritzker family.

The deal values the Chicago-based company at more than $3 billion, according to a statement Friday.

TransUnion President and CEO Bobby Mehta and the rest of the leadership team will remain with the company.

The buyers are Boston-based Advent International and GS Capital Partners VI Fund L.P. and affiliates, according to the statement.

"Penny (Pritzker), Bobby, Madison Dearborn and the TransUnion team have built a remarkably strong organization with long-standing customer relationships and a reputation for product and service excellence," Advent Managing Director Chris Egan said in the statement. "We intend to build on those foundations and grow TransUnion by ensuring that the company continues to deliver superior information and risk management tools both in the U.S. and in key growth markets like Latin America."

Chicago-based Madison Dearborn bought a 51 percent stake in TransUnion in June 2010, with Pritzker interests retaining about 48 percent, according to TransUnion's annual report filed with the Securities and Exchange Commission.

TransUnion had $40.8 million in net income last year on $1.02 billion in revenue, according to the annual report.

The sale of TransUnion is expected to close late in the first quarter or early in the second quarter.

TransUnion had said in July it planned to raise up to $325 million in an initial public offering, but also launched a sale process as the IPO market was effectively shut amid geopolitical and economic uncertainty.

Private-equity firms Carlyle Group, Bain Capital and Advent were in the race to buy the firm in a deal that could fetch more than $2 billion, sources told Reuters last October.

The deal comes in the wake of a new proposal by the U.S. Consumer Financial Protection Bureau to regulate about 200 debt collectors and companies that produce credit reports in its effort to extend its reach beyond the banking industry.

Companies like TransUnion release credit reports which quantify a consumer's creditworthiness and are used by banks and other lenders to determine whether to provide a loan or what interest rate should be charged.

TransUnion competes with firms such as Experian Plc and Equifax Inc.

Sunday, February 12, 2012

Reports this week (Feb 13)


Monday, Feb. 13 
Limelight Networks (LLNW)
Masco Corp. (MAS)
Rackspace Hosting (RAX)
Regal Entertainment (RGC)
Rubicon Technology (RBCN)
Vitamin Shoppe (VSI)

Tuesday, Feb. 14
Retail Sales (January)
Arbitron Inc. (ARB)
Avon Products (AVP)
BorgWarner Inc. (BWA)
Michael Kors Holdings (KORS)
Rush Enterprises (RUSH)
Valspar Corp. (VAL) 

Wednesday, Feb. 15
Empire Manufacturing (January)
Industrial Production (January)
Capacity Utilization (January)
FOMC Minutes
Blue Coast Systems (BCSI)
Comcast Corp. (CMCSA)
Dean Foods (DF)
Deere & Co. (DE)
Terex Corp. (TEX)

Thursday, Feb. 16
Weekly jobless claims
Housing Starts (January)
Producer Price Index (January)
Applied Materials (AMAT)
Baidu Inc. (BID)
General Motors (GM)
J.M. Smucker (SJM)
P.F. Chang's China Bistro (PFCB)
VF Corp. (VFC)

Friday, Feb. 17
Consumer Price Index (January)
Campbell Soup. Co (CPB)
FreightCar America (RAIL)
H.J. Heinz Co. (HNZ)

Saturday, February 4, 2012

The Original Dow 12

COMPANYWHAT BECAME OF IT
American Cotton Oil CompanyDistant ancestor of CPC International, Best Foods, now part of Unilever
American SugarEvolved into Amstar Holdings now Domino Foods, Inc.
American TobaccoBroken up in 1911 antitrust action
Chicago Gas CompanyAbsorbed by Peoples Gas, 1897 now a subsidiary of Integrys Energy Group, Inc.
Distilling and Cattle Feeding CompanyWhiskey trust evolved into Quantum Chemical, now Millennium Inorganic Chemicals
General Electric CompanyGoing strong and still in the DJIA
Laclede Gas Light CompanyActive as The Laciede Group, removed from DJIA in 1899
National Lead CompanyToday's NL Industries, removed from DJIA in 1916
Tennessee Coal & IronAbsorbed by U.S. Steel in 1907
North American CompanyUtility combine broken up in 1940's
U.S. Leather (preferred)Dissolved in 1952
U.S. Rubber CompanyBecame Uniroyal in 1961, now part of Michelin since 1990

Monday, January 23, 2012

Joseph Granville : DJIA to Fall 4,000 Points in 2012

(Bloomberg) -- Joseph Granville, a technical analyst who has been publishing the Granville Market Letter from Kansas City, Missouri, for more than 40 years, talks about the outlook for the U.S. stock market. He speaks with Adam Johnson on Bloomberg Television's "Street Smart."