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Biggest Losers (MI, GAP, BSX, STT, ZION)
Tuesday, October 20, 2009 - 10:50am | 376Marshall & Ilsley Corporation (NYSE: MI) plunged 11.14% to $6.38 huge volume of 4.70 million share after Tuesday that it lost $248 million, or 68 cents a share. In the same period last year Marshall & Ilsley lost $83 million, or 32 cents a share. Analysts polled by FactSet Research...
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Today's Morning Top Gainers (MPS, BK, UAUA, LXK, NVAX)
Tuesday, October 20, 2009 - 10:30am | 363MPS Group, Inc. (NYSE: MPS) is today’s top percentage gainer in morning trade and surged 21.72% today to $13.56 on an unusual huge volume of 10.13 million shares after Adecco , the world's largest staffing company, is buying American rival MPS Group for $1.3 billion, boosting its high-margin and...
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Invesco Reports Results For The Third Quarter
Tuesday, October 20, 2009 - 10:15am | 90Invesco (IVZ) reported diluted third quarter EPS of $0.24, with a revenue of $706M vs. $687M for the last quarter. Its shares sold at +3.6% in premarket session. Invesco has also announced the Morgan Stanley's (MS) retail asset management business and Van Kampen Investments. “As the markets...
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Invesco (IVZ) to Acquire Morgan Stanley’s Asset Management Unit for $1.5B
Tuesday, October 20, 2009 - 8:17am | 66Invesco (NYSE: IVZ) to buy Morgan Stanley asset management business. The deal, which includes $500M in cash and 44.1M shares, will make Morgan Stanley Invesco's largest shareholder, with a 9.4 percent equity stake. It boosts Invesco's assets under management by $119B to about $536B. The...
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Blackstone (BX) Says The Best Is Yet To Come
Wednesday, October 14, 2009 - 8:39am | 300Blackstone Group's (NYSE: BX) CEO Stephen Schwarzman said the worst of the industry's (private-equity) problems were behind it, and dealflow and IPO opportunities are opening up again. Schwarzman said in letter that Reuters obtained that he's seeing "more than green shoots" of economic recovery,...
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Fund Performance Period 10
Tuesday, October 13, 2009 - 4:28pm | 3764As a reminder, if you are interested in this type of fund as a worthwhile consideration for future investment, please consider reading why this blog exists. [Jan 7, 2008: Reader Pledges Toward Mutual Fund Launch] [May 26, 2008: Frequently Asked Questions] Our story in Barron's [A New Kind of Fund...
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Bookkeeping: Taking More Blackstone Group (BX) Profits
Tuesday, October 13, 2009 - 2:48pm | 499I am going to take a second round of profits out of Blackstone Group (BX) in under a week - we had layered in new buys a week ago Friday (in the $13.40s), which were quickly capitalized on last Thursday (in the $14.80s). Now we have had another gap up on yesterday's news that the company is...
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Blackstone Group (BX) Surges on Potential Listing of 8 Portfolio Companies, and Selling of 5 Others
Monday, October 12, 2009 - 12:15pm | 886Good times are back for our financial leaders; the private equity shops now can unload onto the public the companies they took over (and usually loaded with debt), and investment banks can make the big fees for the transaction. If you missed last week's explanation of how public equity works...
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Today's Morning Top Gainers (SNEN, MRNA, BBW, AMD, BX)
Monday, October 12, 2009 - 11:40am | 287Sinoenergy Corporation (NASDAQ: SNEN) is today’s top percentage gainer in morning trade and surged 41.41% today to $1.81 on an unusual huge volume of 1.53 million shares as it has entered into an agreement with Skywide Capital Management Limited, pursuant to which the Company will be merged with...
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Bookkeeping: Making Some Sales While Shaking My Head at Direction of Country
Thursday, October 8, 2009 - 3:03pm | 2088In 4 sessions this week the market has almost completely obliterated the previous 2 weeks of losses. I am laughing at last Friday's employment report now - as if those things mattered. I proclaimed I'd be looking for a bounce and then be adding some short exposure as we got closer to S&P 1070...
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Stocks to Watch (AA, HOTT, SVNT, SCSC, LXRX, BX)
Thursday, October 8, 2009 - 7:55am | 253Alcoa Inc. (NYSE: AA) rallied 7.04% to $15.20 in pre hours following Alcoa Inc. reported third-quarter net income of $77 million or $0.08 per share versus net income of $268 million or $0.33 per share in the same quarter a year before. This was way ahead the street’s estimated as On average, 15...
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Sea World, Busch Gardens Now in the Hands of Private Equity as Blackstone Group (BX) Swoops In
Wednesday, October 7, 2009 - 2:48pm | 1081Fresh off the heels of a magnificent $3 million (ah memories of Tyco's Kozlowski anyone?) birthday bash in 2007.... Some 500 guests toasted Schwarzman on his 60th birthday, hailing him for reeling in the world's biggest buyout just four days earlier: the $39 billion deal involving commercial-...
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Private Equity Skewered in New York Times
Tuesday, October 6, 2009 - 4:08pm | 4357Quite a comprehensive piece in this weekend's New York Times on the world of private equity - using as a proxy the story of Simmons Bedding Company. This is a great topic and something that speaks to our system - the heads we win, tails we win culture in the upper echelons of finance (and one...
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Blackstone Group (BX) Holding 'Team Health Holdings' Files $100M IPO
Tuesday, October 6, 2009 - 1:47pm | 880I have a very negative piece on private equity scheduled to hit at the end of the day, so let me preface that piece by saying I have very little exposure to our financial oligarchy simply because much of it revolts me. I can make money in other ways - and sleep at night. The obvious Russian mafia...
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NOV, BX, ARO, DD Are Fast Money Picks
Monday, October 5, 2009 - 6:43pm | 134CNBC's Fast Money guys gave their picks for October 6th. Joe Terranova would long National-Oilwell Varco (NYSE: NOV), which gained 2.96% on Monday, and closed at $42.10. Guy Adami likes Blackstone (NYSE: BX), and Steve Grasso would long Aeropostale (NYSE: ARO) because he believes that parents will...