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PNC Unit To be Bought By BNY Mellon (BK, PNC)
Tuesday, February 2, 2010 - 12:02pm | 132Bloomberg reports that the Bank of New York Mellon Corp (NYSE: BK) has decided to purchase the global investment servicing business of PNC Financial Services Group (NYSE: PNC) for $2.31 billion. "This acquisition significantly strengthens our service offering and market share with asset managers...
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Bank of New York Mellon (BK) To Purchase PNC Services Unit
Tuesday, February 2, 2010 - 10:52am | 115Bank of New York Mellon Corp. (NYSE: BK) has made a deal with PNC Financial Services Group Inc. (NYSE: PNC) to acquire PNC Global Investment Servicing, PNC's back office operations unit, for $2.31 billion. PNC Financial Services Group Inc. put the unit up for sale months ago in an effort to raise...
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Bank Bonds Become Attractive While Stocks Decline (AB)
Tuesday, February 2, 2010 - 10:27am | 162A report in Bloomberg says that bank bonds have become attractive to large investors, after President Obama’s resolve to limit US Bank sizes reduced the market cap of financial sector firms by $430 billion. The MSCI World Index saw bank stock fall by 5.1% while investors started to demand higher...
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Company News for January 29, 2010 - Corporate Summary
Friday, January 29, 2010 - 10:28am | 172• Honeywell (NYSE:HON) reported a one penny fourth quarter earnings beat of 91 cents on revenues of $8.1 billion, just below Zacks estimates of $8.16 billion. The firm said it expects for 2010 earnings of $2.20 to $2.40 • Dover (NYSE:DOV) reported estimate-topping fourth quarter earnings of 55...
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Benzinga’s Top Downgrades (FII, NPBC, TX, TII, ABFS)
Friday, January 29, 2010 - 10:13am | 278Federated Investors, Inc. (NYSE: FII) declined 2% to $25.50 in the pre-market session after Federated Investors was downgraded by FBR Capital to Underperform from Market Perform and the price target set to $23. The 52-week trading range for Federated Investors is $16.18 - $28.31. FII closed at $26....
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Janus (JNS) 4th Quarter Profits Surge
Thursday, January 28, 2010 - 5:18pm | 118Janus Capital Group Inc. (NYSE: JNS) reprorted Thursday that its 4th quarter net income rose to $37 million, or 20 cents per share, up from $7.8 million, or 5 cents per share, during the same period a year ago. Janus saw 4th quarter revenues of $250.6 million, up from $177.1 million in the 4th...
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Banks To Control Lending? (BX)
Thursday, January 28, 2010 - 8:21am | 151Steven Schwarzman, CEO of Blackstone Group LP (NYSE: BX), has said that banks may have to control and restrict their level of lending in the face of attacks by regulators and the government. This could hinder and hamper efforts to bring back economic recovery. “Banks, starting in the United...
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Earnings Preview: Federated Investors Inc. (FII)
Thursday, January 28, 2010 - 5:00am | 57Federated Investors Inc. (NYSE: FII) will post last quarter’s earning results after the market closes on Thursday. The asset management company is expected to earn $0.53 per share versus $0.51 for the same quarter a year ago. Federated Investors Inc. has beat estimates in each of its last four...
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Earnings Preview: Franklin Resources (BEN)
Wednesday, January 27, 2010 - 12:58pm | 66Franklin Resources (NYSE: BEN) will announce its prior fiscal quarter’s results before the market opens on Thursday. The asset management company is expected to earn $1.46 per share, versus an EPS of $0.52 for the same quarter last year. Franklin Resources has beat estimates in its last two...
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BlackRock Posts Good Earnings (BLK)
Wednesday, January 27, 2010 - 12:24pm | 89Investment management firm, BlackRock (NYSE: BLK) reported adjusted net income of $379 million, or $2.39 per share, this morning before the opening bell. This was a significant jump over last year's period when the company earned $52 million or $0.39 per share. In part, BlackRock's (BLK)...
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Company News for January 27, 2010 - Corporate Summary
Wednesday, January 27, 2010 - 10:29am | 266• After the close, Yahoo (NASDAQ:YHOO) reported earnings of 15 cents for the quarter, 4 penny ahead of Zacks estimates, on revenues of $1.26 billion, which bettered Zacks estimates of $1.23 billion. For the current quarter, the firm expects sales of $1.575-$1.675 billion, and income of $90-$100...
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BlackRock (BLK) Earnings Soar
Wednesday, January 27, 2010 - 9:02am | 120BlackRock Inc.(NYSE: BLK), the world’s biggest asset manager, gave investors a very pleasant surprise with its 4Q earnings announcement. Net income, at $256 million, saw an increase of nearly fivefold from last year’s $52 million. This translates into $1.62 per share from $0.39 per share last year...
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Benzinga’s Earnings Roundup (WLP, PX, RGS, BLK, ROK)
Wednesday, January 27, 2010 - 8:25am | 350WellPoint, Inc. (NYSE: WLP) today reported a fourth-quarter net income of $2.7 billion, or $5.96 per share, as compared to $331.4 million, or $0.65 per share, for the same quarter last year. Adjusted net income was $1.16 a share. Analysts had expected WellPoint to report earnings of $1.02 per share...
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Benzinga’s Top Upgrades (LTD, ETN, NVLS, DIOD, STT)
Tuesday, January 26, 2010 - 10:23am | 282Limited Brands, Inc. (NYSE: LTD) was upgraded today by BMO Capital Markets from Market Perform to Outperform with a price target of $25. Limited Brands closed at $18.60 in the previous trading session. In the last year, LTD has gained over 117%. The 52 week trading range for LTD is $5.98 - $20.90...
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NYC Housing Project Under Heavy Stress (BLK)
Monday, January 25, 2010 - 3:29pm | 122According to Reuters, a group of investors including Tishman Speyer Properties and an unit of BlackRock Inc. (NYSE: BLK) has given up control of Stuyvesant Properties and Peter Cooper Village apartment complex to creditors. This marks a dramatic jump from zenith to nadir for the housing project...