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turipillitteri favorited a video
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turipillitteri favorited a video
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May 25 (Bloomberg) -- Lori Hoberman, partner at Chadbourne & Parke LLP, talks to Bloomberg Law's Lee Pacchia about the initial public offering ...
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May 25 (Bloomberg) -- Lori Hoberman, partner at Chadbourne & Parke LLP, talks to Bloomberg Law's Lee Pacchia about the initial public offering for LinkedIn Corp. and its implications for market regulators and other technology companies. LinkedIn's shares will trade on the New York Stock Exchange under the symbol LNKD.
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turipillitteri favorited a video
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LinkedIn Corporation (NYSE:LNKD) closed its first day of trading yesterday up 109% over its $45 per share IPO price, closing at $94.25 per share. T...
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LinkedIn Corporation (NYSE:LNKD) closed its first day of trading yesterday up 109% over its $45 per share IPO price, closing at $94.25 per share. The stock traded as high as $122.70 intra-day.
The price gives the company a whopping valuation of $8.91 billion, for a company that had a net income of just $15 million in 2010, on revenues of $243 million. That was up 102% from the $120 million in total revenue reported for 2009.
The bookrunning managers of the offering were Morgan Stanley (NYSE:MS), Bank of America's (NYSE:BAC) Merrill Lynch, and J.P. Morgan (NYSE:JPM). Allen & Company LLC and UBS (NYSE:UBS) are the co-managers.
LinkedIn's CEO Jeff Weiner said in an interview with Bloomberg, "We spent a lot of time with the right kind of investors -- folks who understand the story, the fundamentals, who are in it for the long haul. That's our focus. We're in it for the long haul in terms of realizing the potential and opportunity of this platform. In terms of today's initial trades, we'll leave that to the marketplace. I wouldn't read too much into any one day of trading. We're in this for the long-term. As we continue to focus on executing our business, the fundamentals will be there and the stock price will take care of itself."
"On the acquisition front, we will probably stay toward the smaller end of that range, looking for talent and for technology that can accelerate our product roadmap. If we find potential tuck-ins that could be accretive on a top and bottom line basis, we would obviously consider those as well," he added.
LinkedIn is the world's largest professional network on the Internet with more than 100 million members in over 200 countries and territories, which currently includes executives from every Fortune 500 Company. The company has a diversified business model with revenues coming from member subscriptions, advertising sales and hiring solutions. LinkedIn was founded in 2003 and is headquartered in Mountain View, California.
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turipillitteri favorited a video
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Oli Garch lauds the Fed's backing of Bank of America's strategy to shift $55 trillion dollars in derivatives from their Merrill Lynch subsidiary to...
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Oli Garch lauds the Fed's backing of Bank of America's strategy to shift $55 trillion dollars in derivatives from their Merrill Lynch subsidiary to the retail bank which houses trillions in deposits from ordinary Americans-- and is insured by the FDIC. It puts the taxpayer on the hook for the losses-- smart financial planning!
The Federal Deposit Insurance Corporation. FDIC—now that is a four letter word. They have been going around shutting down all these banks that were making everybody a lot of money. They said they were saving Americans their deposits from getting lost in these "creative financial products."
Imagine if they had done that to wall Street? Nobody would be in business. So thank God we got the Fed. A 3 letter word that trumps that 4 letter word.
Case in point. Brilliant idea from the boys at Bank of America.
They shifted $55 Trillion in derivatives from their Merrill Lynch subsidiary to the retail bank which houses trillions in deposits from ordinary Americans-- and is insured by the FDIC.
The ratings agencies had downgraded Merrill and by shifting the derivatives to the retail bank the Merrill Lynch section saved a ton because they won't have to fork over more money as collateral for their exposure to the derivatives. And they can now go out and write even more derivatives—as well as collect BIGGER BONUSES!
Now the FDIC is squawking some bullshit about how this puts the taxpayers at risk rather than the "too big to fail".
Well, not according to the Fed.
The Fed has no obligation to the taxpayers. Its only obligation is to Wall Street.
So they have the proper perspective to analyze this from a cost/benefit analysis, rather than the sky is falling sky is falling perspective of the FDIC.
The Fed understands how much money can be made here.
And even if those guys at the FDIC are right and the sky will fall, it isn't going to fall on the boys at Merrill Lynch...
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