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State Street Appoints Joseph L. Hooley as Chairman
Thursday, December 16, 2010 - 5:47pm | 67State Street Corporation (NYSE: STT) today announced that its board of directors has appointed Joseph L. Hooley as chairman, effective January 1, 2011, following Ronald E. Logue's planned retirement as a director. Hooley, who has served as chief executive officer since March 2010, will remain in...
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State Street Appointed to Provide Custody Services for CAD $600 Million in Assets
Thursday, December 16, 2010 - 1:01pm | 48State Street Corporation (NYSE: STT) announced today that it has been appointed by the General Synod Pension Plan of the Anglican Church of Canada to provide custody, fund accounting, securities lending and foreign exchange services for CAD $600 million in assets.
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Broadridge Financial Ticking Higher On CNBC Mention (BR)
Thursday, December 16, 2010 - 11:52am | 81Broadridge Financial (NYSE: BR) moved higher today as a portfolio manager from West Coast Asset Management on CNBC discussed Broadridge Financial as a potential takeover tgt. The manager said State Street Corporation (NYSE: STT) of Fiserv (NASDAQ: FISV) could be potential buyers. At last check...
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Citigroup Comments On Bank of America Extension (BAC, BK)
Thursday, December 16, 2010 - 11:43am | 214This morning, Citigroup said that press reports indicate Bank of America (NYSE: BAC) has entered talks with the parties that sent a letter in October relating to breaches of servicing responsibilities on 115 private label MBS deals, which gave BAC 60 days to respond in order to avoid an event of...
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KBW Raises NTRS Target From $47 To $53
Thursday, December 16, 2010 - 10:21am | 96KBW said that it is raising its PT on Northern Trust Corporation (NASDAQ: NTRS) from $47 to $53. “Heading into 2011, we expect each of the Trust and Custody (T&C) banks should exhibit modestly improved fee revenue trends but the ongoing ultra-low interest rate environment continues to weigh on...
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KBW Raises BK Target From $31 To $33
Thursday, December 16, 2010 - 10:19am | 36KBW said that it is raising its PT on Bank of New York Mellon Corp. (NYSE: BK) from $31 to $33. Bank of New York Mellon Corp. closed Wednesday at $29.16.
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Icahn To Acquire Dynegy - Analyst Blog
Thursday, December 16, 2010 - 10:03am | 490Icahn Enterprises L.P. (IEP) announced that it will acquire Houston-based merchant generator, Dynegy Inc. (DYN) for $5.50 per share in cash, or approximately $665 million. Under the terms of the agreement, Dynegy stockholders will receive $5.50 in cash for each outstanding share of Dynegy...
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Icahn To Acquire Dynegy - Analyst Blog
Thursday, December 16, 2010 - 9:30am | 490Icahn Enterprises L.P. (IEP) announced that it will acquire Houston-based merchant generator, Dynegy Inc. (DYN) for $5.50 per share in cash, or approximately $665 million. Under the terms of the agreement, Dynegy stockholders will receive $5.50 in cash for each outstanding share of Dynegy...
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J.P. Morgan Overweight On Bank of New York Mellon (BK)
Thursday, December 16, 2010 - 8:08am | 206J.P. Morgan Chase & Co. has an Overweight rating and a $36 price target on shares of Bank of New York Mellon Corp. (NYSE: BK). In a note sent to investors J.P. Morgan writes, "Lower rated securitization exposures subject to interpretation. The uncertainty relates to whether the higher capital...
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Doug Kass Expanding Short Book (TROW, SPY, QQQQ)
Wednesday, December 15, 2010 - 1:14pm | 83Doug Kass of Seabreeze Partners tweeted that he is expanding his short book, by adding positions in T. Rowe Price (NASDAQ: TROW), the S&P 500 ETF (NYSE: SPY) and Retail HOLDRs ETF (NYSE: RTH). Kass is a notorious bear, and is the president of Seabreeze Partners, a Florida based hedge fund.
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Company News for December 15, 2010 - Corporate Summary
Wednesday, December 15, 2010 - 11:33am | 638• Joy Global (NASDAQ:JOYG) reported fiscal fourth quarter earnings of $1.39, ahead of the Zacks Consensus Estimate of $1.16, on revenues of $1.05 billion that topped the Zacks Consensus Estimate of $925.0 million. The firm provided upside 2011 guidance of $5.00-$5.30, above the Zacks Consensus...
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Company News for December 15, 2010 - Corporate Summary
Wednesday, December 15, 2010 - 11:10am | 638• Joy Global (NASDAQ:JOYG) reported fiscal fourth quarter earnings of $1.39, ahead of the Zacks Consensus Estimate of $1.16, on revenues of $1.05 billion that topped the Zacks Consensus Estimate of $925.0 million. The firm provided upside 2011 guidance of $5.00-$5.30, above the Zacks Consensus...
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Goldman Sachs Moves EV To Sell; JNS Goes To Neutral
Wednesday, December 15, 2010 - 9:15am | 78Goldman Sachs is moving Eaton Vance Corp. (NYSE: EV) to Sell and upgrading Janus Capital Group, Inc. (NYSE: JNS) to Neutral. EV's equity mix is 59% compared to 90% for JNS. “We believe JNS is a high-risk reward way to express a positive market view, but a lower multiple is warranted given relative...
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Goldman Sachs Upgrades TROW To CL-Buy
Wednesday, December 15, 2010 - 9:15am | 45Goldman Sachs is moving T. Rowe Price Group, Inc. (NASDAQ: TROW) to CL-Buy from Neutral “given the firm's equity mix (73% of AuM), strong performance and robust and reliable flow trends.” T. Rowe Price Group closed Tuesday at $62.78.
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Goldman Sachs Upgrades EV To Neutral
Wednesday, December 15, 2010 - 9:05am | 49Analysts at Goldman Sachs upgrade Eaton Vance Corp (NYSE: EV) from "sell" to "neutral." The target price for EV is set to $31. EV's shares lost 0.29% to close at $31.39 yesterday. More Analyst Ratings here