Kass: 10 Rumors on Wall Street - TheStreet

This blog post originally appeared on RealMoney Silver on Aug. 4 at 8:09 a.m. EDT.

1. Another large spate of job cutbacks could be announced by

Citigroup

(C) - Get Report

.

2.

Apple

(AAPL) - Get Report

will allegedly announce a problem with its batteries, one that is so serious that the company is considering a massive product recall. Additionally, it is rumored that

AT&T

(T) - Get Report

will be awarded another year to be the exclusive carrier of the iPhone in the U.S. and that Apple will be refreshing its notebook line in time for the back-to-school season.

3.

Berkshire Hathaway

(BRK.A) - Get Report

could be in the process of making a transformative acquisition in the wobbly financial sector. Several large banks, which are targeting Middle Eastern and Chinese Sovereign Funds, are queuing up for capital raises -- some of which could be announced as early as this week.

4. Two homebuilding takeovers will allegedly be announced in the next several weeks, the acquired companies will likely be two merchant builders that are on "death's doorstep." The buyers are the better capitalized homebuilders.

5.

Microsoft

(MSFT) - Get Report

is over

Yahoo!

(YHOO)

- but has an appetite for

Opera

, the Norwegian browser vendor, as well as a number of other small to medium-sized deals. In other rumored technology deals:

IBM

(IBM) - Get Report

is eyeing

Citrix

(CTXS) - Get Report

, and

Cisco

(CSCO) - Get Report

might be looking at

EMC

(EMC)

.

6.

Goldman Sachs

(GS) - Get Report

is considering a bank acquisition, but the target isn't

Wachovia

(WB) - Get Report

.

Lehman Brothers

(LEH)

is in serious talks to spin off a portion of

Neuberger Berman

.

7. The backlog of M&A deals has expanded in recent weeks -- particularly of a strategic kind.

8.

Nvidia

(NVDA) - Get Report

is allegedly going to drop its chipset business to focus on graphics processing units.

9. Virginia representative Eric Cantor is now on the short list to be Senator McCain's running mate. Senator Obama's top pick is allegedly another Virginian, Governor Tim Kaine.

10. Two major hedge funds will be closing their doors at year-end.

Doug Kass writes daily for

RealMoney Silver

, a premium bundle service from TheStreet.com. For a free trial to

RealMoney Silver

and exclusive access to Mr. Kass' daily trading diary, please click here.

At the time of publication, Kass and/or his funds were long Berkshire Hathaway and short Apple and Wachovia, although holdings can change at any time.

Doug Kass is founder and president of Seabreeze Partners Management, Inc., and the general partner and investment manager of Seabreeze Partners Short LP and Seabreeze Partners Short Offshore Fund, Ltd.