Motorola

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Frontrunning: February 23





  • IMF Official: 'Huge' Greek Program Implementation Risks In Next Few Days (WSJ)
  • European Banks Take Greek Hit After Deal (Bloomberg)
  • Obama Urged to Resist Calls to Use Oil Reserves Amid Iran Risks (Bloomberg)
  • Hungary hits at Brussels funds threat (FT)
  • Bank Lobby Widened Volcker Rule Before Inciting Foreign Outrage (Bloomberg)
  • Germany fights eurozone firewall moves (FT)
  • New York Federal Reserve Said to Plan Sale of AIG-Linked Mortgage Bonds (Bloomberg)
  • G-20 Asks Europe to Beef Up Funds (WSJ)
  • New Push for Reform in China (WSJ)
 
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Frontrunning: February 14





  • BOJ Adds to Monetary Easing After Contraction (Bloomberg)
  • EU to punish Spain for deficits, inaction (Reuters)
  • Obama, China's Xi to tread cautiously in White House talks (Reuters)
  • Global suicide 2020: We can’t feed 10 billion (MarketWatch)
  • Greece rushes to meet lender demands (Reuters)
  • Obama Budget Sets Up Election-Year Tax Fight (Reuters)
  • Foreign Outcry Over ‘Volcker Rule’ Plans (FT)
  • Moody’s Shifts Outlook for UK and France (FT)
  • France to Push On With Trading Tax (FT)
 
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Near Record Institutional Short Interest Caught With Pants Down In Motorola Mobility Acquisition





As if hedge funds did not have enough to worry about with redemption requests galore after last week's epic rout and vol surge, today's Google stunner acquisition of MMI caught a near record number of them with their pant down. The company, which had over the past year, ever since its spin off, become one of the most despised public companies, saw a 250% increase in its short interest since December, peaking at 25 million shares short, dropped to just under 20 million shares, or essentially the second highest to date. These are precisely the institutional shorts who are hating their live right now as they are sitting on a $260 million paper loss, enough to wipe out several mid-size hedge funds. Speaking of, following rampant rumors spread by CNBC's strategy session last week that various funds were blowing up left and right (in addition to perennial bete noire Paulson & Co of course), we have yet to hear of even one casualty. Just how tight of a lid are prime brokers keeping on their hedge fund client casualties if not one peep has been uttered about who blew up? Following today's trouncing in MMI, we doubt this secret will be such a secret for much longer.

 
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More Heat On iPhone As Google Acquires Motorola Mobility For $12.5 Billion





Why did Google just pay a 60% premium for MMI? One word: iPhone - "Motorola Mobility's total commitment to Android has created a natural fit for our two companies. Together, we will create amazing user experiences that supercharge the entire Android ecosystem for the benefit of consumers, partners and developers. I look forward to welcoming Motorolans to our family of Googlers....We expect that this combination will enable us to break new ground for the Android ecosystem. However, our vision for Android is unchanged and Google remains firmly committed to Android as an open platform and a vibrant open source community. We will continue to work with all of our valued Android partners to develop and distribute innovative Android-powered devices."

 
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