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Eaton Vance (EV) Beats Analyst Expectations
Wednesday, February 24, 2010 - 10:24am | 70Eaton Vance Corp. (NYSE: EV) on Wednesday reported a 1st quarter profit of $46.2 million, or 37 cents per share, compared to a profit of $24.7 million, or 21 cents per share, during the same quarter a year earlier. The asset manager's revenue rose 30%, to $272 million. According to a FactSet...
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American Capital Ltd Price Target Of $5.50 (ACAS)
Wednesday, February 24, 2010 - 10:22am | 136American Capital Ltd (Nasdaq: ACAS) shares are slightly off in the pre-market to $3.80 after it reported Q4 earnings. Macquarie analyst Matt Howlett set a price target of $5.50 per share. Mr. Howlett maintains his Neutral rating on American Capital Ltd. He states, "We believe that ACAS should rally...
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Benzinga’s Top Pre-Market Losers (STEC, CENX, ACAS, GOLD, SBIB)
Wednesday, February 24, 2010 - 9:53am | 283STEC, Inc. (NASDAQ: STEC) decreased 29.43% to $9.47 in the pre-market session. STEC reported yesterday that it expects to report an adjusted per-share loss of $0.11 to $0.13 per share for the first quarter and revenue is expected to come in between $33 million to $35 million. The 52-week trading...
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Eaton Vance Corp.’s (EV) First-Quarter Earnings Preview
Tuesday, February 23, 2010 - 8:50pm | 102Analysts Roger Smith and Campbell Anthony at Macquarie (ADR) (OTC: MQBKY) have released a report previewing the first-quarter earnings at Eton Vance Corp. (NYSE: EV). The company will report earnings for the first-quarter tomorrow. Analysts expect the company to report EPS of $0.36, which is in-...
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Legg Mason To Join Actively Managed ETF Fray
Tuesday, February 23, 2010 - 4:28pm | 132Legg Mason (NYSE: LM), the mutual fund issuer and asset manager with $680 billion in assets under management, has announced plans to launch actively managed ETFs, becoming the latest mutual fund firm to declare its intention to join the actively managed ETF party. Legg Mason would not comment...
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Commercial Metals Flying On Takeover Rumors (CMC, NUE)
Monday, February 22, 2010 - 12:26pm | 120CNBC reported in its real time flash that Commercial Metals (NYSE: CMC) is up over 10.27% on significant volume. Commercial Metals is reported to be number one on the Russell 1000. The volume is more than its current 10 day average. Even the call to put ratio is huge at 20 to 1 as of right now....
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Blackstone To Restructure Hilton’s Debt (BX)
Friday, February 19, 2010 - 9:50pm | 104Blackstone Group (NYSE: BX) has struck a deal to revamp Hilton Worldwide’s debts. Hilton Worldwide is Blackstone’s (BX) single largest investment. The deal is likely to shave approximately $4 billion off the total debt load of $20 billion. Blackstone will inject additional $800 million through new...
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John Cahill Joins Legg Mason’ Board (LM)
Friday, February 19, 2010 - 8:10pm | 86John Cahill has been elected a member of Legg Mason’s (NYSE; LM) board. Cahill will replace Roger Schipke, who is retiring in July. Cahill was the chief executive officer of Pepsi Bottling Group Inc. (PBG) from 2001 to 2006. Currently, he is a partner at private equity firm Ripplewood Holdings....
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Fortress (FIG) Requires To Pay $150 Million To Stave Off Auction Of Intrawest’s Assets
Friday, February 19, 2010 - 6:20pm | 250Bloomberg reported that Fortress Investment Group LLC (NYSE: FIG) may have to contribute at least $150 million to Intrawest ULC, to avert bankruptcy or foreclosure. Fortress bought Intrawest in 2006, which is the owner of the Olympics’ Alpine skiing venue. Yesterday, Intrawest’s creditors...
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Appointments At Financial Services Institutions (CS, BAC, AMP)
Wednesday, February 17, 2010 - 8:11pm | 132Credit Suisse Group AG (ADR) (NYSE: CS), the Swiss based bank, named Jon Kinol as the global head of interest rate products. Kinol will take charge in May, 2010, and he will be based in New York. Bank of America Merrill Lynch (NYSE: BAC) appointed London-based Paul Donofrio as the head of global...
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Man Group Gains From BlackRock Talk (BLK, C)
Wednesday, February 17, 2010 - 6:07pm | 126Man Group shares gained 6.5% backed by the rumors that BlackRock, Inc. (NYSE: BLK) is interested in buying a stake in it. According to the Daily Mail’s market column, BlackRock was keen on another large deal after its purchase of Barclays’ funds business last year as it looks to expand its hedge...
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Fortress Investment Group To Acquire Logan Circle Partners (FIG)
Tuesday, February 16, 2010 - 10:00pm | 95Fortress Investment Group (NYSE: FIG) is close to sign a deal for acquiring bond investor Logan Circle Partners. Fortress Group (FIG) is looking to break into traditional asset management. Logan Circle acts as a portfolio manager for institutional clients. It currently has $12 billion in assets...
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Movement Expected In The Shares Of These Companies Amid Significant Events (BRK.B, BX, JPM, ORCL,YHOO)
Tuesday, February 16, 2010 - 5:32pm | 524According to a Bloomberg report, the shares of the following companies may see some unusual trading moves today. After the close of Friday’s trading, Berkshire Hathaway, Inc. (NYSE: BRK.B), the insurance and investment company owned by Warren Buffet, became part of the S&P 500 index....
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Profit Doubles At Barclays; Share Price Soars (BCS, BLK)
Tuesday, February 16, 2010 - 9:04am | 183Barclays Plc (ADR) (NYSE: BCS) has reported higher-than-expected profits. The sale of a fund management unit, and investment banking performance are believed to be responsible for this increase in profits. The net income of the bank, which is the second largest in UK, increased to 7.5 billion...
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XLF To Rebalance To Reflect Addition Of Berkshire "B" Shares
Friday, February 12, 2010 - 3:09pm | 89State Street Global Advisors, the ETF issuing business of State Street (NYSE: STT), said it will rebalance the popular and heavily traded Financial Select SPDR ETF (NYSE: XLF) on or about Feb. 16, 2010 to reflect the addition of Berkshire Hathaway's Class B shares (NYSE: BRK-B). Berkshire recently...