Oaktree Capital Acquires Stake in Dynegy and 2 Hot Stocks Changing Hands
A 13 G filing by Oaktree Capital (NYSE:OAK) reveals it has acquired a 7.23% holding in energy company Dynegy (DYNIQ.PK), which has just emerged from bankruptcy protection. The company reported a loss of $41 million during its third-quarter, primarily due to low prices for electricity.
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A now-defunct online store called Kozmo.com offered “free delivery in under one hour” in 1998. Major online sellers such as Wal-Mart (NYSE:WMT) and Amazon (NASDAQ:AMZN) are trying to beef up their delivery schedules, though they are hardly likely to match the one offered by Kozmo.com. Their objective: same-day service for a fee. Also experimenting with the concept is the United States Postal Service, which is trying it out in San Francisco.
General Motors (NYSE:GM) is reported to be discussing a deal to acquire some portions of the international automotive finance operations of Ally Financial. According to a report in The Detroit News, Ally Financial is considering the sale in order to raise funds to repay bailout dues of the US government.