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Goldman Sachs PT Changes For 5/31
Tuesday, May 31, 2011 - 7:59am | 145Goldman Sachs has changed the price targets on the following companies: Affymetrix (NASDAQ: AFFX) from $4.50 to $5, Sell Bank of New York Mellon (NYSE: BK) from $30 to $29, Neutral Baxter International (NYSE: BAX) from $69 to $72, Buy CME Group (NASDAQ: CME) from $345 to $325, Neutral...
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Bank of America Upgrades Franklin resources To Buy, Raises PO To $156
Tuesday, May 31, 2011 - 6:51am | 29Bank of America has upgraded Franklin Resources (NYSE: BEN) from Neutral to buy and has raised the price objective from $141 to $156.
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Jefferies Lowers PT On Fortress Investment Group To $5.75
Tuesday, May 31, 2011 - 6:13am | 28Jefferies & Company has lowered the price target on Fortress Investment Group (NYSE: FIG) from $7 to $5.75 and maintains its Hold rating.
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Crushing Harvard's Mighty Endowment Fund?
Monday, May 30, 2011 - 10:57pm | 3471Before I get into my latest topic, I want to follow-up on my Friday comment on pensions leaping back into hedge funds. I was talking to one of the investment professionals who works at an established hedge fund that received an allocation from the $175 million SARA Fund managed by HR Strategies on...
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Goldman Hires New Head of Asia Mining Team
Monday, May 30, 2011 - 9:22am | 156Goldman Sachs (NYSE: GS) has tapped Johan van Jaarsveld from Blackstone Group (NYSE: BX) to head a newly created team advising mining and metals companies in Asia outside Japan, according to a report in the San Francisco Chronicle. Mergers among metals and mining companies in the Asia-Pacific...
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Citi Maintains Sell on Eaton Vance
Friday, May 27, 2011 - 7:15am | 105Citi is out with its report today on Eaton Vance (NYSE: EV), maintaining Sell. In a note to clients, Citi writes, "Our caution reflects combination of deteriorating flow prospects, elevated consensus expectations, and premium valuation. In turn, with mixed equities flow prospects and what could be...
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Public Companies Giving Out Cash Like They're Oprah on a Coke Binge
Thursday, May 26, 2011 - 5:25pm | 538For all the talk about the recession, one segment of the economy is booming. The corporate world is flush with cash, and the proof is in the dividend pudding. Take a look at the news wire the last few days. It seems like everybody and their grandmother is handing out new dividends, increasing...
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Calls Purchased on Legg Mason, Inc.
Thursday, May 26, 2011 - 3:28pm | 135Shares of Legg Mason, Inc. (NYSE: LM) are higher on the session by 0.94%, currently trading at $33.36. The stock has been moving largely lower over the past six weeks and is currently trading below the 50-day and 200-day moving averages. Options traders are buying calls on the name today. A short...
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Options Brief: Federated Investors, Inc.
Thursday, May 26, 2011 - 2:12pm | 71Shares of Federated Investors, Inc. (NYSE: FII) are lower on the session by 0.04%, trading at $24.95. Overall put volume is now running at 8.13x the daily average, with 48% of all puts traded being purchases on the offer. 1,918 contracts have traded on the session so far. Federated Investors,...
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iShares Adds Global and International TIPs ETFs to Menu
Thursday, May 26, 2011 - 11:13am | 455BlackRock (BLK) introduced two new inflation-protected bond ETFs on 5/20/11 (press release). The iShares Global Inflation-Linked Bond Fund (GTIP) and iShares International Inflation-Linked Bond Fund (ITIP) include exposure to government issued inflation-protected bonds from both developed and...
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Michaels 1Q Profit Nearly Triples
Thursday, May 26, 2011 - 10:13am | 154Privately owned Michaels Stores reported that its fiscal first-quarter earnings nearly tripled due to lower expenses and improved sales and margins. For the three months that ended in April, Michaels posted earnings of $37 million, compared to $13 million a year earlier. Revenues grew 5.7% to $953...
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Deutsche Bank Retains Hold Rating On Franklin Resources
Thursday, May 26, 2011 - 7:38am | 131According to Deutsche Bank, Franklin Resources (NYSE: BEN) held a management meeting. Deutsche Bank said that while most trends at Franklin are favorable (healthy flows & cash levels) and the firm is well positioned given its product, distribution, geographic, long-term performance, and...
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Deutsche Bank Provides Color On Janus Capital Meeting
Thursday, May 26, 2011 - 7:27am | 130According to a recent report, Deutsche Bank recently met with Janus Capital (NYSE: JNS) CEO, Dick Weil, CFO, Greg Frost and incoming CFO, Bruce Koepfgen. Following the meeting, Deutsche Bank has maintained a Hold rating on the company, despite the optimistic valuation and long term strategic growth...
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PowerShares Convertible Securities ETF Debuts Today
Thursday, May 26, 2011 - 3:09am | 209PowerShares, the fourth-largest U.S. ETF issuer, will introduce the PowerShares Convertible Securities Portfolio ETF (NYSE: CVRT) today. With an expense ratio of 0.35%, CVRT will track the BofA Merrill Lynch All U.S. Convertibles Index. The index tracks the performance of dollar-denominated...
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BlackRock Declares Quarterly Dividend of $1.375 on Common Stock
Wednesday, May 25, 2011 - 4:01pm | 43BlackRock (NYSE: BLK) today announced that its Board of Directors has declared a quarterly cash dividend of $1.375 per share of common stock, payable June 23, 2011 to shareholders of record at the close of business on June 7, 2011.