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News Summary (PNC, FFIV, MS, BX, STI, BBT)
Thursday, July 22, 2010 - 10:42am | 237Regional banks are generally holding up better as compared to their bigger counterparts as their business is not impacted by new financial regulations. Regional banks such as SunTrust (NYSE: STI), BB&T (NYSE: BBT) and PNC Financial Services (NYSE: PNC) are paying less for deposits, which has...
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United Biscuits To Be Sold In Private Equity Deal (BX)
Thursday, July 22, 2010 - 8:57am | 109Private Equity firm BlackRock (NYSE: BX) is looking to sell United Biscuits, the iconic UK consumer goods company, which could raise more than 2 billion pounds after the sale is completed, according to this report. United Biscuits, which also makes McVitie's Digestives, Penguin and Twiglets, is...
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State Street Corporation Maintains Outperform Rating
Wednesday, July 21, 2010 - 8:37am | 66Keefe, Bruyette & Woods raises its confidence in State Street Corporation (NYSE: STT) due to their solid 2Q earnings. Even though State Street Corporation pre-announced their 2Q results on July 7, the operating results remain strong, and resulted in raising EPS estimates and the price target to...
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BlackRock Income And Revenue Nearly Double (BLK)
Wednesday, July 21, 2010 - 7:34am | 179BlackRock, Inc. (NYSE: BLK) announced on Wednesday morning that it beat consensus Wall Street estimates. BlackRock, Inc. (BLK) reported that its 2nd quarter net income jumped 98% to $432 million, or $2.21 per share, up from $218 million, or $1.59 per share, a year earlier. Excluding special items,...
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Trading Plan for July 21, 2010
Wednesday, July 21, 2010 - 7:24am | 394Current Long Positions (stop-losses in parentheses): None Current Short Positions (stop-losses in parentheses): ESV (42.84), WTFC (37.71), SLAB (44.80), CERN (82.08), ALB (43.59), HIBB (26.65), WRC (40.95), QQQQ (45.83), SCHN (44.33), NSIT (14.79) BIAS: 106% Short Economic...
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Calls Purchased on Fortress Investment Group (FIG)
Tuesday, July 20, 2010 - 3:15pm | 131Shares of Fortress Investment Group LLC (NYSE: FIG) are higher on the session by 1.01%, currently trading at $3.99. The stock has been moving largely lower over the past six months and is currently in a technical downtrend. Options traders are buying calls on the name today. The August $4.00 call...
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I Have A Question
Tuesday, July 20, 2010 - 12:53pm | 865I Have A Question Courtesy of Sam Antar at White Collar Fraud Nice timing. NBTY Inc. (NYSE: NTY) Directors Michael L. Ashner and Peter J. White May purchased company stock just about two months before last week’s announcement that NBTY is being acquired by the Carlyle Group, according to publicly...
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RadioShack Lower as Buyout Looks Less Likely (RSH, BX)
Tuesday, July 20, 2010 - 12:41pm | 185Shares of RadioShack Corp. (NYSE: RSH) are lower on the session by 6.30%, currently trading at $20.10. The stock hit a low of $19.11 earlier in the day, right at the opening bell. Dow Jones is reporting that private-equity firms Blackstone Group LP (NYSE: BX) and TPG Capital LP are likely to drop...
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Calls Sold on Legg Mason (LM)
Tuesday, July 20, 2010 - 12:25pm | 144Shares of Legg Mason Inc. (NYSE: LM) are lower on the session by 1.98%, currently trading at $27.21. The stock has been moving largely lower over the past three months, off from a recent high near $34.75. Options traders are selling calls on the name today. The August $35.00 call was sold 5,400...
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Company News for July 20, 2010 - Corporate Summary
Tuesday, July 20, 2010 - 9:58am | 155• State Street(NYSE:STT) posted in-line second quarter earnings of 93 cents on in-line revenues of $2.3 billion, up 8.6% from a year ago • Biogen Idec (NASDAQ:BIIB) reported estimate-topping earnings of $1.31, above Zacks estimates of $1.08, on an 11% increase in revenues to $1.2 billion, up from...
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Jefferies Lowers Estimates/Price Target on Blackstone Group (BX)
Tuesday, July 20, 2010 - 9:21am | 269Jefferies & Company is out with a research report this morning, where it lowers its estimates on Blackstone Group (NYSE: BX); it also lowered the company’s price target to $11.50, from $14.50. The stock is currently rated Hold. The Jefferies analysts said, “We are reducing our 2Q10 EPS...
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State Street's Q2 Revenue Exceeds Targets
Tuesday, July 20, 2010 - 8:10am | 52State Street Corp (NYSE: STT) reported its Q2 operating EPS of $0.93, hitting the analyst estimate of $0.93. STT's revenue for the quarter was $2.304 billion, exceeding the Street view of $2.25 billion. Read more from Benzinga's Company news.
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BNY Mellon Second Quarter Earnings Jump (BK)
Tuesday, July 20, 2010 - 7:54am | 90Bank of New York Mellon (NYSE: BK) said net income for the second quarter was $658 million, or 54 cents a share, up from $176 million, or 15 cents a share in the year-ago period. Analysts polled by FactSet Research, on average, expected earnings of 55 cents a share. For the quarter, revenue grew...
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Bank of New York Mellon (BK) More Than Triples Earnings
Tuesday, July 20, 2010 - 7:02am | 125Bank of New York Mellon Corporation (NYSE: BK) released financial results on Tuesday morning that were in line with Wall Street estimates. Bank of New York Mellon Corporation (BK) reported that its 2nd quarter profit surged to $658 million, or 54 cents per share, up from $176 million, or 15 cents...
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Rand Capital Announces Sale of Its Innov-X Systems, Inc.
Monday, July 19, 2010 - 4:33pm | 145Rand Capital Corporation (Nasdaq: RAND) ("Rand"), a business development company (BDC) that provides capital for small to medium-sized private companies, announced that it has sold/redeemed its investment holdings in Innov-X Systems, Inc., (Woburn, MA) (www.innovx.com). Innov-X had been acquired on...