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One of the bidders for AEG could likely be Oracle (NASDAQ:ORCL) CEO Larry Ellison, according to a Reuters report. Anschutz’ pricetag of about $ 10 billion for the sports conglomerate is not likely to intimidate Ellison who recently set up a credit facility by pledging 139 million shares in Oracle. What he plans to do with that money is not yet clear but he is reported to have said it was “just in case I go shopping and something catches my eye”.
Certain bondholders in AMR (AAMRQ.PK) which include JPMorgan (NYSE:JPM), Pentwater and Litespeed, have proposed to provide financing from $ 1 billion-$ 2 billion to the airline company in return for sizeable holdings in the restructured organisation.
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JPMorgan (NYSE:JPM) reports third Quarter EPS of $ 1.40 which is ahead of expectations by $ .18 and revenues of $ 25.9 billion which beats by $ 1.9 billion. Return on equity is 12% compared to 9% last year. Net interest margin falls to 2.43% from 2.47% while new mortgages total $ 47 billion, higher by 29% on a year-on-year basis. Revenue from investment banking operations is up 44.4% year-on-year. The corporate office, which reported a $ 1.78 billion loss in the second quarter, swung into the black with a quarterly profit of $ 221 million. Reduced markets loan loss reserves contributed a $ 900 million gain. Chief Jamie Dimon turns bullish on the housing market.
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