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AllianceBernstein Announces July 31, 2011 Assets Under Management
Wednesday, August 10, 2011 - 3:00pm | 52AllianceBernstein L.P. and AllianceBernstein Holding L.P. (NYSE: AB) today announced that preliminary assets under management decreased to $456 billion from $461 billion during July 2011. The 1.1% decline was due to negative investment returns, as well as net asset outflows across the firm's three...
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Market Update
Wednesday, August 10, 2011 - 8:54am | 185Shares of Cisco Systems Inc (NASDAQ: CSCO) fell about 1.4% as the company is all set to report its quarterly earnings after the closing bell. Cisco is projected to report its Q4 EPS at $0.38 on revenue of $10.98 billion. Shares of Lions Gate Entertainment Corp (NYSE: LGF) dropped about 1.9% after...
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Legg Mason Reports Assets Under Management of $655B For July 2011
Wednesday, August 10, 2011 - 6:56am | 23Legg Mason, Inc. (NYSE: LM) reported preliminary assets under management of $655 billion as of July 31, 2011.
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UPDATE: Citi Downgrades Federated Investors and Lowers the PT from $21 to $16
Wednesday, August 10, 2011 - 6:55am | 113Citi has published a report on Federated Investors (NYSE: FII) downgrading the company and lowering the price target. In the report, Citi wrote, "FII is by far the most reliant on money markets (45% of 2Q revenues vs. median 3% for traditionals) and Fed commentary around keeping Fed Funds low...
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Benzinga's Top Downgrades
Wednesday, August 10, 2011 - 6:37am | 122Federated Investors Inc (NYSE: FII) was downgraded by Citigroup from "hold" to "sell." FII's shares closed at $18.46 yesterday. Federated Investors' trailing-twelve-month ROA is 15.30%. Wunderlich Securities downgraded Walt Disney Company (The) (NYSE: DIS) from “buy” to “hold.” DIS's stock closed...
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Investing For Expected Value?
Wednesday, August 10, 2011 - 5:46am | 700Last week, a reader brought up an interesting point with respect to investment decisions: "I disagree with the idea that an investment that has a non-trivial probability of a large loss is necessarily a bad one. I would claim that the key metric is the investment's Expected Value (EV)."...
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Citigroup Downgrades Federated Investors To Sell, Lowers PT To $16
Wednesday, August 10, 2011 - 4:49am | 27Citigroup has downgraded Federated Investors (NYSE: FII) from Hold to Sell and has lowered the price target from $21 to $16.
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AllianceBernstein Adopts Rule 10b5-1 Stock Repurchase Plan
Tuesday, August 9, 2011 - 3:46pm | 133AllianceBernstein L.P. and AllianceBernstein Holding L.P. (NYSE: AB) today announced that they have adopted a plan to repurchase AllianceBernstein Holding Units pursuant to Rule 10b5-1 under the Securities Exchange Act of 1934. A plan under Rule 10b5-1 allows a company to repurchase its shares at...
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Odd Timing: PowerShares Files Plans For 4 Financial Services ETFs
Tuesday, August 9, 2011 - 1:19pm | 230Invesco's (NYSE: IVZ) PowerShares, the fourth-largest U.S. ETF issuer, has filed plans with the Securities and Exchange Commission for four new ETFs focusing on the financial services sector, a move that might be considered odd as the environment for financial services stocks is less than welcoming...
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Calls Purchased on Federated Investors
Tuesday, August 9, 2011 - 11:13am | 107Shares of Federated Investors (NYSE: FII) are higher on the session by 1.13%, currently trading at $18.84. The stock has been moving largely lower over the past three months and is currently trading below the 50-day moving average. Options traders are buying calls on the name today. A short while...
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Westwood Holdings Group, Inc. Board of Directors Authorizes $10M Share Repurchase
Tuesday, August 9, 2011 - 10:35am | 80Westwood Holdings Group, Inc. (NYSE: WHG) today announced that its Board of Directors has authorized a share repurchase of up to $10 million of its outstanding common stock. The repurchases will occur at such times and at such prices as the management of the Company determines and may be effected...
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Jefferies Reiterates Hold and PT of $135 on Franklin Resources
Tuesday, August 9, 2011 - 5:24am | 47Jefferies reiterated its Hold rating on Franklin Resources (NYSE: BEN). At the same time, the rating agency left its price target on the company's stock unchanged at $135. On Monday, BEN lost 9.37% of its value to finish the day at $106.63.
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Franklin Resources Month-End Assets Under Management $747.2B
Monday, August 8, 2011 - 3:32pm | 37Franklin Resources, Inc. (NYSE: BEN) today reported preliminary month-end assets under management by the company's subsidiaries of $747.2 billion at July 31, 2011, compared to $734.2 billion at June 30, 2011, and $602.9 billion at July 31, 2010.
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Sterne Agee Upgrades Waddell & Reed Financial to Buy, Reduces PT to $42
Monday, August 8, 2011 - 7:23am | 51Sterne Agee upgraded its rating on Waddell & Reed Financial (NYSE: WDR) from Neutral to Buy. At the same time, the rating agency reduced its price target on the company's stock to $42. On Friday, WDR lost 5.62% of its value to finish the day at $31.71.
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Sterne Agee Upgrades Waddell & Reed To Buy, $42 PT
Monday, August 8, 2011 - 6:52am | 27Sterne Agee has upgraded Waddell & Reed Financial (NYSE: WDR) from Neutral to Buy and has established a $42 price target.