CreXus Downgraded at Deutsche, Bank of Ireland Conducts Bond Sale: Financial Business Recap

| + More Articles
  • Like on Facebook
  • Share on Google+
  • Share on LinkedIn

Shares of CreXus Investment Corporation (NYSE:CXS) were downgraded from Buy to Hold at Deutsche Bank on Tuesday, following the offer of $12.50 per share on Monday by Annaly Capital Management (NYSE:NLY) for all outstanding shares of the former, and also, the price target was elevated from $12 to $12.50. No further bidders are expected, and the analyst expects that the offer will be accepted.

Catalysts are critical to discovering winning stocks. Check out our newest CHEAT SHEET stock picks now.

The Bank of Ireland (NYSE:IRE) has conducted its first public bond sale within two years on word that it’s prepared to leave a state guarantee plan, along with saying anew that it anticipates loan losses will shrink. The company is Ireland’s biggest lender by assets, and a statement released Tuesday indicated that it sold 1 billion euros, or $1.27 billion, of three- year, Irish residential mortgage-covered bonds, which was twice its minimum target. The Bank added that “This transaction marks an important step for Bank of Ireland in returning to a more sustainable funding position and reducing reliance on monetary authority borrowings.” Citigroup (NYSE:C) and Morgan Stanley (NYSE:MS), among others, were mandated to carry out the transaction.

Don’t Miss: These 4 Mega Banks Weigh in on the Fiscal Cliff.

More Articles About:

To contact the reporter on this story: staff.writers@wallstcheatsheet.com To contact the editor responsible for this story: editors@wallstcheatsheet.com

Yahoo Finance, Harvard Business Review, Market Watch, The Wall St. Journal, Financial Times, CNN Money, Fox Business