Wall Street Brief: Bed Bath & Beyond Winning, Greece Extends Deadline

For a second time, Greece has pushed back a deadline for private bondholders to accept a debt swap deal. The new deadline for the holdout group is April 20 while authorities continue to determine what to do if these creditors don’t want to participate. For those who are ready, Greece will settle the swap of EUR 20.27 billion bonds (72 percent) on April 11. According to Reuters, the country is unable to fully pay those holding out and that the offer from March is the best one available for the swap deal to bondholders.

Bed Bath & Beyond (NASDAQ:BBBY) offers evidence consumers are still focused on their homes: earnings rose 32% to $1.48 per share versus last year’s earnings of $1.12 a share. BBBY’s earnings jumped 32% year over year to $4.06 per share, beating Wall Street expectations.

DirecTV (NASDAQ:DTV) has come to a five-year agreement to restart the offering of Tribune (TRBCQ.PK) TV stations including local ones and WGN America. The terms of the deal were not disclosed by the parties. Derek Chang, executive vice president of Content, Strategy and Development, DIRECTV said in a press release, “It’s unfortunate that Tribune was willing to hold our customers hostage in an attempt to extract excessive rates, but in the end we reached a fair deal at market rates similar to what we originally agreed to on March 29.”

On Wednesday, hedge fund manager Philip Falcone said he is “seriously considering” filing voluntary bankruptcy for the start-up company LightSquared; his hedge fund is its majority owner. By pursuing bankruptcy, which is just one option,  it would enable the company to buy time and resolve the issues related to communications interference that has been affecting the building out of a national wireless broadband network, reported Reuters.

March unemployment figures come out on Friday while most markets will be closed for Good Friday. Economists have forecast non-farm payrolls increased by 205,000 after rising by 77,000 in February. The jobless rate is estimated to stay the same at 8.3 percent.

To contact the reporter on this story: Debbie Baratz at staff.writers@wallstcheatsheet.com

To contact the editor responsible for this story: Damien Hoffman at editors@wallstcheatsheet.com