-
Jefferies Ups State Street Price Target
Thursday, July 8, 2010 - 8:03am | 92Jefferies & Co. maintained a "hold" rating on State Street (NYSE: STT), but lifted its price target on the custodian bank to $42 to $40 after the company pre-announced bullish second-quarter results. Jefferies also upped its 2Q estimate on State Street to 93 cents a share from 64 cents a share...
-
Top 4 Stocks In The Asset Management Industry With The Highest Sales Growth Estimates (BLK, CNS, EPHC, GLG)
Thursday, July 8, 2010 - 7:00am | 163Below are the top asset management stocks on the NYSE and the NASDAQ in terms of sales growth estimates for the current quarter. BlackRock Inc (NYSE: BLK) is likely to have achieved 97.3% sales growth in the June quarter. Analysts at UBS initiated coverage of BLK with a “buy” rating. Cohn &...
-
I Love This Game 07-07-2010
Wednesday, July 7, 2010 - 6:23pm | 714Cusick’s Corner The market held its ground, something the shorts have conceded at this stage. The day ended with the SPX breaking its second point of resistance 1053. For this to have strength, any pullback here needs to garner more support and get more of the sideline money involved to strengthen...
-
Bid Lacks Conviction 07-07-2010
Wednesday, July 7, 2010 - 2:45pm | 749Cusick’s Corner This is a nice move to the upside that looks to be shaking out some of the shorts going into the Midday -- typical as far as moves go in a bearish trending market. Traders are hard pressed to position on the long side because the bid does not have the conviction that is necessary...
-
Mid-Day Market Update: Following Banks Lead, Markets Rally (STT, JPM, V)
Wednesday, July 7, 2010 - 11:42am | 129A broad market rally is in force this morning, following a surge in bank stocks. State Street Corp. (NYSE: STT) popped more than 10% after the bank announced that it expects 2nd Quarter earnings to beat analyst expectations. The Financial Sector SPDR ETF (NYSE: XLF) is up over 2% today. News that...
-
Top Performing Industries For July 7 (STT, TBH, AUGT, NPK)
Wednesday, July 7, 2010 - 11:37am | 215At 10:55 am, the Dow gained 1.52% to 9,891.81, the broader Standard & Poor's 500 index moved up 1.60% to 1,044.52 and the NASDAQ composite index rose 1.48% to 2,124.81. The industries that are faring well in the market today are: Regional-Northeast Banks: This industry jumped 4.55% by 10:55 am...
-
Calls Sold on State Street Corp. (STT)
Wednesday, July 7, 2010 - 11:36am | 137Shares of State Street Corp. (NYSE: STT) are higher on the session by 10.68%, currently trading at $36.90. The stock has been trading largely lower over the past three months, off from recent highs near $48.50. The stock is surging higher today on better-than-expected earnings, as well as some...
-
Upside Purchased on Bank of New York (BK)
Wednesday, July 7, 2010 - 11:19am | 150Shares of Bank of New York Mellon Corp. (NYSE: BK) are higher on the session by 5.54%, currently trading at $26.11. The stock has been trading largely lower over the past three months, off from highs near $32.70. Options traders are betting that the stock can rally from here. The September $26.00...
-
Double-Dip Fears Overblown - Market Analysis
Wednesday, July 7, 2010 - 9:32am | 1201Economic data has not been helpful to the markets of late. It has created an uncertain picture of the U.S. economy. There are two competing visions that the markets are trying to size up: one calls for a slowdown in growth, while the other is for a relapse into another recessionary bout. The latter...
-
Protection Purchased on Ameriprise Financial (AMP)
Tuesday, July 6, 2010 - 4:20pm | 120Shares of Ameriprise Financial Inc. (NYSE: AMP) ended the session higher by 0.80%, trading at $26.47. The stock has been drifting lower and lower over the past three months, off from recent highs near $50.00. Options traders were bracing for more downside today. The July $35.00 put was purchased 1...
-
Citigroup Reiterates Buy Rating on Och-Ziff Capital Management (OZM)
Wednesday, June 30, 2010 - 9:57am | 270Citigroup is out with a research report this morning, where it reiterates its Buy rating on shares of Och-Ziff Capital Management (NYSE: OZM); it has a $22.00 price target on the stock. The Citi analysts, “Late 6/29, the Senate stripped out the controversial $19B bank assessment in an effort to...
-
US Financial Stocks Tumble As Investor Sentiments Weaken
Tuesday, June 29, 2010 - 4:41pm | 254All leading US financial companies dipped today as investor sentiments frayed over weak economic data from China and a dip in consumer confidence index in the US. The Financial Select Sector SPDR exchange-traded fund, which tracks the financial stocks in the S&P 500 Index, lost 3.24% at 3:33 pm...
-
Benzinga’s Top Downgrades (VIA.B, VOD, AKAM, JNS)
Tuesday, June 29, 2010 - 8:45am | 146Viacom Inc (NYSE: VIA.B) was downgraded by Goldman Sachs from “buy” to “neutral.” VIA.B’s shares closed at $33.97 yesterday. Viacom’s 52-week trading range is $19.95-$37.07. Credit Suisse downgraded Vodafone Group Plc (NASDAQ: VOD) from “outperform” to “neutral.” VOD’s shares closed at $22.02...
-
Benzinga’s Top Upgrades (WDR, JBL, LEN, DIS)
Tuesday, June 29, 2010 - 8:43am | 152Waddell & Reed Financial Inc (NYSE: WDR) was upgraded by Keefe Bruyette from “market perform” to “outperform.” WDR’s shares closed at $23.79 yesterday. Waddell & Reed Financial’s quarterly earnings jumped 130.10%. Thomas Weisel upgraded Jabil Circuit Inc (NYSE: JBL) from “market weight” to...
-
Citi's Top Calls 6/29/10 (AMP, AMD, BRCM)
Tuesday, June 29, 2010 - 8:11am | 272Citi sees little risk to chip companies' 2Q10 consensus estimates. Analysts said, "While orders may have slowed early in the quarter, lead times are sufficiently long to minimize any 2Q10 impact." According to Citi, these chip company are most likely to beat estimates: Advanced Micro Devices (NYSE...