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JNC Analysis & Videos »
JNC: Bull or Bear?
Oil Prices Dip, Helps Support Stock Prices
JNC
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The market opened under a bit of selling pressure, but that has since reversed. The oil inventory data released this morning showed a build in supplies. That pushed oil prices lower, and helped lift stocks.
The market also got a boost from Home Depot (HD) seeling its supply business and announcing a $22.5 billion stock buyback. Morgan Stanley (MS) reported strong earnings and revenues, while FedEx (FDX) reported disappointing earnings results. But FDX stock is trading higher on the news, which implies the stock had already priced in this report.
Also, <> Nuveen ...
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Nuveen Takeover-Think aBout Legg and Federated
JNC
Nuveen Investments ( JNC ) announced this morning that it was being taken over by Madison Dearborn for $65 per share. JNC has assets under management (AUM) of about $165 billion roughly half of which is equities. The takeout valuation is 16 times trailing EBITDA and about 3.4% of AUM.
I think other asset management companies look starkly cheap in the light of this transaction.
Readers are aware of our positive views on Legg Mason ( LM ) It is trading at only 11 times TTM EBITDA and about 1.4% of AUM.
Janus Capital ( JNS ) though frequently rumored as a potential t...
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About Nuveen Investments Inc.
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