Wall Street Watch: RIMM Execs Surrender, Halliburton Earnings, Greek Debt
On Friday, private creditors of Greek debt made their “maximum offer” on losses they’re willing to accept, according to the creditor’s lead negotiator, Institute of International Finance’s Charles Dallara. He said the deal included losses of 65 percent to 70 percent of the value of creditors’ Greek debt holdings. The deal will be discussed by Eurozone finance ministers in Brussels today.
France (NYSEARCA:EWQ) and Germany (NYSEARCA:EWG) will ask for a “relaxation” of global bank capital rules so lending isn’t stopped, according to the Financial Times. German finance minister Wolfgang Schauble and French finance minister Francois Baroin are leading the charge and will suggest banks who own insurance companies, obtain special treatment. They will also ask for capital requirements to be simplified to lessen any “negative effect” on growth and request a three-year delay to disclose leverage ratios.
Hot Feature: Investors Await Apple’s Earnings on Tuesday.
Research in Motion (NASDAQ:RIMM) co-CEOs, Mike Lazaridis and Jim Balsillie, resigned on Saturday; COO Thorsten Heins replaced them. The two had faced a lot of criticism as the company’s market share tanked and its stock price fell to multi-year lows last year, according to Reuters. Rumors are now swirling whether Heins will try to turnaround the company or prepare to sell it.
Halliburton (NYSE:HAL) announced its fourth quarter earnings report pre-market today and said its earnings per share beat expectations with its increase to $1.00 from $0.94 in the third quarter. Revenue was $7.06 billion, a 37 percent rise when compared on a year over year basis. According to Hallburton’s CEO David Lesar, the company saw record sales for all of 2011.
Don’t Miss: EU Adopts Iranian Oil Sanctions.