NEW YORK (AP) -- Lehman Brothers Holdings (NASDAQOTH: LEHMQ ) said Friday that it will receive about $474.4 million for selling some of the IOUs of its brokerage arm as the former investment bank seeks to repay billions to creditors.
The general unsecured claims are being sold for 44.75 percent of their face value of $1.06 billion. Earlier this month, Lehman Brothers agreed to sell $4.22 billion in claims against Lehman Brothers for proceeds of $1.88 billion -- 44.5 percent of face value.
A bankruptcy court judge in April approved settlements that cleared the way for the remnants of Lehman to repay its customer claims in full. Holders of unsecured claims will be repaid based on whatever is left following the completion of customer claims.
Lehman's $639 billion bankruptcy in September of 2008 was the largest ever in U.S. history. Lehman's individual retail customers were repaid in the first few days of the brokerage's liquidation. But it took several years of talks before Lehman, its holding company and its European arm could agree on how claims for larger customers of each unit, such as hedge funds or institutional investors, would be paid.
Top 5 Retail Companies For 2014: Bed Bath & Beyond Inc.(BBBY)
Bed Bath & Beyond Inc., together with its subsidiaries, operates a chain of retail stores. It sells a range of domestic merchandise, such as bed linens and related items, bath items, and kitchen textiles; and home furnishings, including kitchen and tabletop items, fine tabletop, basic housewares, general home furnishings, consumables, and certain juvenile products. The company also offers giftware, household products, and health and beauty care items; and infant and toddler merchandise. It operates stores under the names of Bed Bath & Beyond (BBB), Christmas Tree Shops (CTS), Harmon and Harmon Face Values (Harmon), and buybuy BABY. As of August 27, 2011, the company had a total of 1,155 stores, including 986 BBB stores, 70 CTS stores, 54 buybuy BABY stores, and 45 Harmon stores in 50 states, the District of Columbia, Puerto Rico, and Canada. It also operates two stores under the name of Home & More in the Mexico City through a joint venture. Bed Bath & Beyond Inc. was foun ded in 1971 and is based in Union, New Jersey.
Advisors' Opinion:- [By Fitz Gerald]
Matthew Fiorilli, who is Senior VP – Stores at Bed Bath & Beyond, Inc. (NASDAQ:BBBY), sold 5,600 shares on Sep 26 at $58.53 per share for a total value of $327,757. About the company: Bed Bath & Beyond Inc. operates a nationwide chain of retail stores. The Company, through its retail stores, sells a wide assortment of merchandise principally including domestics merchandise and home furnishings as well as food, giftware, health and beauty care items and infant and toddler merchandise.
- [By Scott Rothbort]
The stock that best fits this thesis is Bed Bath & Beyond (BBBY). After the housing-led recession resulted in earnings declines for the company in fiscal 2008 and 2009 (the company’s fiscal year ends in April), the company came roaring back in fiscal 2010 and 2011. Earnings are expected to rise 27% for fiscal 2012 and 14% in fiscal 2013.
I believe that the 2013 estimates are too low because of comments made by management in its recent conference call. Bed Bath & Beyond is a company that could rise 15% to 20% in 2012.
Bed Bath & Beyond, which showed up on a December list from Jim Cramer of 7 Stocks for Your Buy List, was also featured recently in "7 Hot Stocks on Traders' Radars."
Consumer Staples
Top 5 Retail Companies For 2014: Macy’s Inc (M)
Macy�s, Inc., together with its subsidiaries, operates stores and Internet Websites in the United States. Its retail stores and Internet Web sites sell a range of merchandise, including apparel and accessories for men, women, and children; cosmetics; home furnishings; and other consumer goods. The company also operates Bloomingdale�s Outlet stores that offer a range of apparel and accessories, including ready-to-wear, shoes, fashion accessories, jewelry, handbags, and intimate apparel products. As of January 28, 2012, it operated approximately 840 stores under the names of Macy�s and Bloomingdale�s; and 7 Bloomingdale�s Outlet stores, as well as macys.com and bloomingdales.com. The company was formerly known as Federated Department Stores, Inc. and changed its name to Macy�s, Inc. in June 2007. Macy�s, Inc. was founded in 1820 and is based in Cincinnati, Ohio.
Advisors' Opinion:- [By Dividend Stocks Online]
Rating: 95/100. Mattel has a dividend yield of 3.1% and a 5 year dividend growth rate of 10.2%. It has raised its dividend for the last 3 years and has a payout ratio of 46%. Mattel has a 3 year net income growth rate of 26.5% and the stock is up 31% over the last 12 months. We would like to see a higher dividend yield and consistent annual dividend increases from Mattel before we can rate the stock higher.
Top 5 Healthcare Technology Stocks To Invest In 2014: Caseys General Stores Inc.(CASY)
Casey?s General Stores, Inc., together with its subsidiaries, operates convenience stores under the Casey?s General Store, HandiMart, and Just Diesel names in 11 Midwestern states, primarily Iowa, Missouri, and Illinois. Its stores offer foods, beverages, dairy and bakery products, sandwiches, fountain drinks, donuts, cookies, brownies, Danish rolls, ham and cheese sandwiches, pork and chicken fritters, sausage sandwiches, chicken tenders, popcorn chicken, breakfast croissants and biscuits, breakfast pizza, hash browns, quarter-pound hamburgers and cheeseburgers, and potato cheese bites. The company?s stores also provide nonfood items, which include tobacco products, health and beauty aids, school supplies, house wares, pet supplies, photo supplies, and automotive products. In addition, it offers gasoline or gasohol for sale on a self-service basis. As of July 31, 2011, the company operated 1,665 stores. The company was founded in 1959 and is headquartered in Ankeny, Iowa.
Top 5 Retail Companies For 2014: Tim Hortons Inc.(THI)
Tim Hortons Inc. develops, franchises, and operates quick service restaurants primarily in Canada and the United States. Its restaurants serve coffee and other hot and cold beverages, baked goods, sandwiches, soups, and other food products. As of April 03, 2011, the company and its restaurant owners operated 3,169 restaurants in Canada and 613 restaurants in the United States under the Tim Hortons name; and had 274 primarily self-serve licensed locations in the Republic of Ireland and the United Kingdom Tim Hortons Inc. was founded in 1964 and is based in Oakville, Canada.
Top 5 Retail Companies For 2014: PetSmart Inc(PETM)
PetSmart, Inc., together with its subsidiaries, operates as a specialty retailer of products, services, and solutions for pets in the United States, Puerto Rico, and Canada. The company offers consumables, such as pet food, treats, and litter; and hardgoods, which include pet supplies and other goods comprising collars, leashes, health care supplies, grooming and beauty aids, toys, apparel, and pet beds and carriers, as well as aquariums and habitats, accessories, d�or, and filters for fish, birds, reptiles, and small pets. It also provides fresh-water fish, small birds, reptiles, and small pets; and pet services, such as grooming, including precision cuts, baths, nail trimming and grinding, and teeth brushing, as well as training, boarding, and day camp services. In addition, the company operates PetsHotels that offer boarding for dogs and cats; provides personalized pet care, an on-call veterinarian, temperature controlled rooms and suites, daily specialty treats and p lay time, and day camp services for dogs; and operates veterinary hospitals, which offer services comprising routine examinations and vaccinations, dental care, a pharmacy, and surgical procedures. As of January 29, 2012, it operated 1,232 retail stores; 192 PetsHotels; 791 veterinary hospitals under the trade name of Banfield, The Pet Hospital; and 8 hospitals operated through other third parties in Canada. The company also offers its products through an e-commerce and community site, PetSmart.com. PetSmart, Inc. was founded in 1986 and is based in Phoenix, Arizona.
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