(GuruFocus, December 14, 2009) Among Today’s most traded stock stocks are: Citigroup Inc. (C, Financial), Sun Microsystems Inc. (JAVA, Financial), Bank of America (BAC, Financial), XTO Energy Inc. (XTO, Financial), and Exxon Mobil Corp. (XOM, Financial).
Citigroup Inc. (C)
Citigroup Inc. is down $0.25 per share or 6.33% for the day, and 834 million shares changed hands. That much volume for one stock!
Citigroup's announced today that it is offering common shares to repay the money it owes to the U.S. government. It would issue about $20 billion of capital -- $17 billion worth of common stock, which it would immediately sell, and about $3.5 billion of securities that will turn into common shares in three years.
Citigroup Inc. the underdog of the financial crisis is seeing a return of buyers among the Investment Gurus recently. During 3Q09, eight Gurus initiated positions in the stock. David Tepper, John Paulson, Andreas Halvorsen, Ken Heebner, Richard Perry are among the high profile buyers of the stock.
Company insiders also pitched in to show the confidence. Company executives such as CEO, Citibank, N.A. Eugene M Mcquade bought 1,000,000 shares of C stock on 08/05/2009 at the average price of 3.41 and CEO of Latin America & Mexico Manuel Medina-mora bought 1,000,000 shares of C stock on 08/04/2009 at the average price of 3.21.
Several company insiders also bought stocks recently, including Directors Robert L Joss , William S Thompson, and Richard D Parsons.
SUN MICROSYSTEMS, INC. (JAVA)
Sun Microsystems is up $.92 per share and 144million shares changed hands.
Sun Microsystems shares got a boost because Oracle on Monday appeared close to resolving the issues that have delayed its $7.4bn purchase of Sun Microsystems for months with Europe’s antitrust watchdog. Oracle had agreed to acquire Sun for $9.50 per share.
Sun Microsystems is owned by several Gurus, among them, HOTCHKIS & WILEY, John Paulson own a heavy position.
The Oracle/Sun deal price was set, the process was stalked by European regulators. However, some company insiders were not certain whether the deal will eventually go through. CFO & EVP, Corporate Resources Michael E Lehman sold 15,000 shares of JAVA stock on 08/26/2009, and several other directors also sold shares.
Bank of American Corp. (BAC)
BAC closed at $15.63, unchanged from Friday. 128 million shares changed hand.
There has been no dramatic business news today for BAC other than the Citigroup news. The stock has been frequently changing hands, making most traded stock list almost daily.
Bank of America Corp. is owned by many Gurus. Charles Brandes, HOTCHKIS & WILEY, and especially John Paulson own large positions.
Company insiders have been confident about the company’s stock: Director Robert W Scully bought 62,000 shares on 10/21/2009 and Pres, Glbl Wealth and Inv Mgmt Sallie Krawcheck bought 63,000 shares of BAC stock.
XTO Energy Inc. (XTO)
XTO Energy Inc is up $6.37 per share or 15.35%. 125 million shares changed hands.
XTO Energy Inc. today is been bought out by Exxon Mobile for $41 billion, including $10 billion in assumed debt.
XTO Energy Inc. is owned by several Gurus. Andreas Halvorsen, Bill Gates, Ruane & Cunniff & Goldfarb Inc., and Lee Ainslie, each own a large position in the stock and they should be happy with today’s price popup.
Exxon Mobil Corp. (XOM)
XOM was down $3.14 (4.31%) for the day and 91 million shares changed hands. This is the mirror trade for XTO. The term for XTO acquisition is for 0.7098 shares of XOM for each share of XTO. Right now there is a little over 3% profit if one buys one share of XTO and sell 0.7098 shares of XOM short. The arbitrage trading will eventually eliminate the arbitrage gap.
Exxon Mobil Corp. is owned by many Gurus. Warren Buffett, Bill Gates, Brian Rogers are among large position owners.
Insiders have been busy selling, recently, Vice President Richard Michael Kruger , Vice President Harold R Cramer, Vice President A Timothy Cejka are among the sellers.
GuruFocus provides real time information and insights of Investment Gurus such as Warren Buffett and Company CEOs, CFOs, and Directors, for Premium Members. If you are not a premium member, click here to sign up or upgrade. 7-Day Free Trial is available.
Citigroup Inc. (C)
Citigroup Inc. is down $0.25 per share or 6.33% for the day, and 834 million shares changed hands. That much volume for one stock!
Citigroup's announced today that it is offering common shares to repay the money it owes to the U.S. government. It would issue about $20 billion of capital -- $17 billion worth of common stock, which it would immediately sell, and about $3.5 billion of securities that will turn into common shares in three years.
Citigroup Inc. the underdog of the financial crisis is seeing a return of buyers among the Investment Gurus recently. During 3Q09, eight Gurus initiated positions in the stock. David Tepper, John Paulson, Andreas Halvorsen, Ken Heebner, Richard Perry are among the high profile buyers of the stock.
Company insiders also pitched in to show the confidence. Company executives such as CEO, Citibank, N.A. Eugene M Mcquade bought 1,000,000 shares of C stock on 08/05/2009 at the average price of 3.41 and CEO of Latin America & Mexico Manuel Medina-mora bought 1,000,000 shares of C stock on 08/04/2009 at the average price of 3.21.
Several company insiders also bought stocks recently, including Directors Robert L Joss , William S Thompson, and Richard D Parsons.
SUN MICROSYSTEMS, INC. (JAVA)
Sun Microsystems is up $.92 per share and 144million shares changed hands.
Sun Microsystems shares got a boost because Oracle on Monday appeared close to resolving the issues that have delayed its $7.4bn purchase of Sun Microsystems for months with Europe’s antitrust watchdog. Oracle had agreed to acquire Sun for $9.50 per share.
Sun Microsystems is owned by several Gurus, among them, HOTCHKIS & WILEY, John Paulson own a heavy position.
The Oracle/Sun deal price was set, the process was stalked by European regulators. However, some company insiders were not certain whether the deal will eventually go through. CFO & EVP, Corporate Resources Michael E Lehman sold 15,000 shares of JAVA stock on 08/26/2009, and several other directors also sold shares.
Bank of American Corp. (BAC)
BAC closed at $15.63, unchanged from Friday. 128 million shares changed hand.
There has been no dramatic business news today for BAC other than the Citigroup news. The stock has been frequently changing hands, making most traded stock list almost daily.
Bank of America Corp. is owned by many Gurus. Charles Brandes, HOTCHKIS & WILEY, and especially John Paulson own large positions.
Company insiders have been confident about the company’s stock: Director Robert W Scully bought 62,000 shares on 10/21/2009 and Pres, Glbl Wealth and Inv Mgmt Sallie Krawcheck bought 63,000 shares of BAC stock.
XTO Energy Inc. (XTO)
XTO Energy Inc is up $6.37 per share or 15.35%. 125 million shares changed hands.
XTO Energy Inc. today is been bought out by Exxon Mobile for $41 billion, including $10 billion in assumed debt.
XTO Energy Inc. is owned by several Gurus. Andreas Halvorsen, Bill Gates, Ruane & Cunniff & Goldfarb Inc., and Lee Ainslie, each own a large position in the stock and they should be happy with today’s price popup.
Exxon Mobil Corp. (XOM)
XOM was down $3.14 (4.31%) for the day and 91 million shares changed hands. This is the mirror trade for XTO. The term for XTO acquisition is for 0.7098 shares of XOM for each share of XTO. Right now there is a little over 3% profit if one buys one share of XTO and sell 0.7098 shares of XOM short. The arbitrage trading will eventually eliminate the arbitrage gap.
Exxon Mobil Corp. is owned by many Gurus. Warren Buffett, Bill Gates, Brian Rogers are among large position owners.
Insiders have been busy selling, recently, Vice President Richard Michael Kruger , Vice President Harold R Cramer, Vice President A Timothy Cejka are among the sellers.
GuruFocus provides real time information and insights of Investment Gurus such as Warren Buffett and Company CEOs, CFOs, and Directors, for Premium Members. If you are not a premium member, click here to sign up or upgrade. 7-Day Free Trial is available.
