Time 8:48

Stocks in the News:

SWKS:


SWKS Skyworks introduces industry's first BAW filters to enable WiMAX and WLAN co-existence (10.33 )
Co introduces the industry's first bulk acoustic wave filters for customer premise equipment to allow co-existence between wireless local area networks in the home and enterprise, and WiMAX networks which cover wider areas including neighborhoods and cities. As both networks operate at very closely spaced frequency bands, these unique BAW filters reject the interfering frequencies while allowing the desired signals to pass for the selected network.

ICE:


ICE IntercontinentalExchange announces acquisition of Creditex Group; expected to be accretive in 12 to 18 months from closing (134.15 )
Co announced that it has entered into a definitive merger agreement to acquire Creditex Group, an processor of credit default swaps with markets spanning the U.S., Europe and Asia. The transaction consideration will total $625 million comprising approximately $565 million in ICE common stock and $60 million in cash, as well as a working capital adjustment to be finalized at closing. The transaction is expected to be accretive in 12 to 18 months from closing. Based on recent results and expected synergies, the transaction would yield $9 million to $14 million in total pretax synergies in 2009, comprising incremental revenues and expenses.


ICE IntercontinentalExchange reports May average daily volume in futures during May rose 20%, and OTC commissions increased 68% over May 2007 (138.20 ) -Update-
Co reports solid growth in volume and commissions for the month of May. Average daily volume in futures during May rose 20%, and OTC commissions increased 68% over May 2007. The three-month rolling average rate per contract for the period ended May 2008 was $1.21 in Europe. Total futures and options volume at ICE Futures U.S. increased 7% y/y. The three-month rolling average rate per contract for the period ended May 2008 was $2.13 for agricultural futures and options in North America.

LEH:


LEH Losses push Lehman to weigh raising new capital - WSJ (33.83 )
The Wall Street Journal reports Lehman Brothers (LEH) is considering raising billions of dollars in fresh capital to help shore up its balance sheet, according to people familiar with the matter. The exact amount of the capital hike isn't known, but analysts and Wall Street executives estimate it is likely to be $3 bln to $4 bln. They said Lehman would probably announce the capital raising in conjunction with its quarterly results, due the week of June 16. The amount of new capital under consideration suggests Lehman's quarterly loss could be larger than the $300 mln or so that some analysts have been expecting. The new capital would likely be raised by issuing common shares, diluting current shareholders, people familiar with the matter said. Lehman still has a lot of exposure to the mortgage market, and they are going to need capital to get through it," said UBS analyst Glenn Schorr.