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Minutes. They are raising another 1 billion in capital which we dont want to get lost in the shuffle. 28. 7 conversion premium. A 6 cue ton. Thats pretty rich stuff for a company that many say, jim, didnt necessarily need to raise money or had plenty of cash, that cash being part of it. Any potential appeal that it might have had. As for the process itself, we all know it was a difficult one. I had pointed out many a times, the letter of intent that was signed by fairfax back in late september didnt obligate them to anything and financing a potential deal from them was going to be extraordinarily difficult as we reported right here at squawk on the street at 9 a share. They step up for 250 million of this convertible the company is issuing today. They are becoming the lead director, correct . Correct. Major turnover here. This seems to be one that every month is doing worse. So i know you said they dont need the capital but, to me, i look at it. They said they dont need the capital. Wh ....
Year. So will today make it six in a row in the red for the dow and s p . Maria, we only have two days left. Two trading sessions left in this quarter. A little bit of work to do today. Hanging on to a slight gain. Nike, verizon, visa leading the charge. Keeping the dow above water today. Spoke to a few Money Managers early. They said, look, we think the u. S. Market is fully valued at this level. What are the alternatives . We continue looking at the u. S. As the best house in a tough neighborhood. Thats why were seeing this market continue to streak higher even if we are seeing fractional losses today. My interview coming up with former president bill clinton. He t tells me how he would hand the debt ceiling with republicans. Would he negotiate . What to give on. What about how the president has handled syria. Bill clinton giving me frank answers on that and a lot more coming up on closing bell. I bet he did give you frank answe ....
Eyebrows. The company on the brink of failing, giving its ceo thorsten hines, a golden parachute. A lot of outrage on that. Waiting on the statement. A statement from the president at 3 30 p. M. Eastern. Got to assume its the debt deal, debt showdown or chairman of the fed announcement. One of those. Whats interesting, they havent said. They normally tell you hell make a statement on the budget, a statement on this. This is up in the air. The big question mark. Well find out in 29 minutes. Assuming hes on time. Well take you there live. Also ahead in the program im going to sit down with the Prime Minister of canada, Stephen Harper exclusively. Well talk about blackberry, a source of pride in his country, at least it was. He has direct things to say about the long delayed Keystone Pipeline project. Not happy about tha ....
Losses in about a month. Lets catch up with Mary Thompson and tell us about the tough week thats finally over. Finally over with a broad based decline. The dow and s p with low and nasdaq managing to post a slight gain for the week. Lets take a look at components that contributed to the declines and gains. Within the dow industrials Goldman Sachs was worst performer for the week. Its a new member of the dow but there was a downgrade by gugenheim and in general financials have been under pressure about concerns about a weak quarter this quarter for their fixed income areas. That put pressure on goldman as well as the rest of the large cap banks this week. Jcpenney was the weakest performer in the s p 500. Coming out yesterday with another Equity Offering that will severely dilute outstanding shares. The stock down about 30 ....
Fiveday losing streak yesterday. A lot more fed speak on the way today. Europe got some strong confidence numbers in both the u. K. And in italy, although that italian 10year ticking up yet again this morning. Our road map begins with jcpenney. A potential payout to top execs coming in much bigger than expected. 80 million should a sale to a buyout group be completed. And nike share higher premarket after its Quarterly Results outpace expectations. And on this day in 1993, david faber first clicked on his mick cr microphone on cnbc and the rest is history. I wondered if that was coming. Did you know it was coming . I thought maybe because they sent me a little pin. Did you know that was what happened at ten 20. Oh, 20 thats a fifth of a century. Thanks for reminding me. Jcpenney is offering 84 million shares at 9. 65 apiece. Of course this offering itself someone unexpected given what been a believe that it did not need to rais ....