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Northern Trust Names Industry Veteran Peter Sanchez as CEO of Northern Trust Hedge Fund Services
Thursday, June 2, 2011 - 8:00am | 148Northern Trust (Nasdaq: NTRS) announced today that R. Peter Sanchez will serve as Chief Executive Officer of Northern Trust Hedge Fund Services LLC upon the closing of Northern Trust's acquisition of Omnium LLC, a leading hedge fund administrator. Sanchez currently is Global Head of Business...
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Oppenheimer Maintains Estimates, Outperform Rating, and $29 PT on SEI Investments
Thursday, June 2, 2011 - 7:39am | 117In a report focusing on SEI Investments Co. (NASDAQ: SEIC), Oppenheimer said that it remains optimistic about long-term GWP prospects “but suspect positive returns remain a ways away.” “SEI expects ~$20M in GWP-related revenue during FY11, representing a relatively nominal percentage of signed...
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Bank of America Lowers PO On Janus Capital Group To $11
Thursday, June 2, 2011 - 7:01am | 29Bank of America has lowered the price objective on Janus Capital Group (NYSE: JNS) from $14 to $11 and maintains its Underperform rating.
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Citigroup Lowers PT on Federated Investors To $24
Thursday, June 2, 2011 - 6:03am | 26Citigorup has lowered the price target on Federated Investors (NYSE: FII) from $25 to $24 and maintains its Hold rating.
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Comcast to Buy Blackstone's Stake in Universal Orlando
Wednesday, June 1, 2011 - 11:45am | 202Comcast Corp. (NASDAQ: CMCSA) plans to purchase Blackstone Group's (NYSE: BX) stake in Universal Orlando, sources familiar with the situation said Tuesday. Comcast is expected to pay between $1 billion and $1.5 billion for Blackstone's half of the theme park. In March, Blackstone offered to sell...
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J.P. Morgan Maintains Underweight on Federated Investors
Wednesday, June 1, 2011 - 8:31am | 127J.P. Morgan is out with its report today on Federated Investors (NYSE: FII), maintaining Underweight. In a note to clients, J.P. Morgan writes, "We see the potential for Federated to outperform peers if equity markets become unstable. A flight from risk assets could send investors back to money...
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Benzinga's Top Upgrades
Wednesday, June 1, 2011 - 8:22am | 106Goldman Sachs upgraded BlackRock (NYSE: BLK) from “neutral” to “buy.” BLK's shares closed at $205.56 yesterday. BlackRock's trailing-twelve-month operating margin 35.73%. Analysts at Sterne Agee upgraded Concur Technologies Inc (NASDAQ: CNQR) from “neutral” to “buy.” CNQR's shares closed at $49.97...
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Northern Trust Completes Acquisition of Bank Of Ireland Securities Services
Wednesday, June 1, 2011 - 7:39am | 188Northern Trust (Nasdaq: NTRS) announced today the closing of its acquisition of Bank of Ireland Securities Service from the Bank of Ireland Group. Northern Trust had announced its intention to acquire the fund administration, investment operations outsourcing and custody business of the Bank of...
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Goldman Sachs Upgrades BLK To Buy, Downgrades TROW To Neutral
Wednesday, June 1, 2011 - 7:09am | 49Goldman Sachs has upgraded BlackRock (NYSE: BLK) from Neutral to Buy with a $240 price target and has also downgraded T. Rowe Price Group (NASDAQ: TROW) from Buy to Neutral with a $70 price target.
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MICROCAPITAL BRIEF: Rwanda's Bank of Kigali Announces Three Microfinance Products Targeting Rural Financial Inclusion
Tuesday, May 31, 2011 - 5:09pm | 160The Bank of Kigali (BK), a commercial bank based in the Rwandan capital, has announced the development of three microfinance products that will allow rural populations to acquire loans without collateral. BK expects to introduce a women's entrepreneurship account, a youth entrepreneurship savings...
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Leveraged BDC ETN With 14.6% Yield Launched
Tuesday, May 31, 2011 - 2:06pm | 688Just a month ago, UBS introduced the first ETP focusing on Business Development Companies. Now they are upping the ante with a leveraged version. The UBS ETRACS 2x Leveraged Long Wells Fargo Business Development Company ETN (BDCL) began trading 5/25/11, will reset its leverage monthly, and will...
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Options Brief: Franklin Resources, Inc.
Tuesday, May 31, 2011 - 10:59am | 93Shares of Franklin Resources, Inc. (NYSE: BEN) are higher on the session by 1.89%, trading at $129.16. Overall put volume is now running at 2.72x the daily average, with 62% of all puts traded being purchases on the offer. 2,071 contracts have traded on the session so far. Franklin Resources,...
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Bloomberg: Buyout Firms Turn into Asset Managers as Takeovers Become Scarce
Tuesday, May 31, 2011 - 9:55am | 211As takeover targets become scarce, Carlyle Group, KKR (NYSE: KKR) and other buyout specialists are becoming asset managers that run hedge funds and strip malls, according to a report in Bloomberg. Blackstone Group (NYSE: BX), the largest private-equity firm, earns twice as much from owning office...
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UPDATE: Jefferies Lowers PT on Fortress Investment Group to $5.75
Tuesday, May 31, 2011 - 8:30am | 101Jefferies is out with its report today on Fortress Investment Group (NYSE: FIG), lowering its PT from $7 to $5.75. In a note to clients, Jefferies writes, "Last week we spent time with the management of Fortress. Overall, the capital raising environment is improving and YtD investment performance...
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Bank of America Merrill Lynch Reports on Franklin Resources
Tuesday, May 31, 2011 - 8:18am | 134Bank of America Merrill Lynch commented on Franklin Resources (NYSE: BEN) in a report released today. In the report, Bank of America Merrill Lynch was positive in its assessment. Bank of America Merrill Lynch writes, "We are raising BEN to Buy from Neutral on a combination of 1) valuation; 2)...