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Jefferies & Company's Take on Trust Banks (BK, NTRS, STT)
Friday, December 10, 2010 - 10:23am | 147Jefferies & Company is out with a research report this morning, where it looks at the Trust Bank sector. The analysts' key point was that they are comfortable with 4Q estimates, with higher equity market levels and improving FX volume/volatility proxies likely to offset lower securities lending...
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AllianceBernstein Assets Under Management Decrease to $485B
Friday, December 10, 2010 - 10:05am | 48AllianceBernstein L.P. and AllianceBernstein Holding L.P. (NYSE: AB) today announced that preliminary assets under management decreased to $485 billion from $499 billion during November 2010. The 2.8% decline was due to negative investment returns and net asset outflows, mainly from institutional...
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Jefferies Comments On Invesco's Novermber AUM Report
Friday, December 10, 2010 - 9:52am | 149Invesco's (NYSE: IVZ) core business trends are stable-to-improving and the opportunity for acceleration through the VK acquisition remains significant. The combination of solid investment performance, enhanced distribution capabilities, and stringent expense management should accelerate IVZ's...
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J.P. Morgan Expects Basel III To Hurt State Street
Friday, December 10, 2010 - 8:58am | 106J.P. Morgan expects State Street (NYSE: STT) to take a hit from Basel III. In a note to clients, J.P. Morgan writes, "STT expects Basel III to hurt Tier 1 common ratio by over 700 bp, far larger than expected by the market after the benefit of selling $11 bil of low rated securities at a loss. If...
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Mad Money Lightning Round: Cramer Advises Investors To Buy BlackRock (LLY, DECK, CMI, OXPS, AXP, V, MRK, ABT, BLK)
Friday, December 10, 2010 - 4:21am | 265On CNBC's Mad Money, Jim Cramer said during the Lightning Round that Eli Lilly (NYSE: LLY) is a “dividend play. I'll put it in the don't-buy camp. We need a bug drug from Lilly and they don't have it." For Deckers Outdoor (NASDAQ: DECK), he mentioned, "I think in light of what others are doing, I...
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Nostradamus Effect Lifts Freeport, United Airlines and Waddell & Reed
Friday, December 10, 2010 - 1:54am | 1195Model Portfolio Daily Update: December 9, 2010 Subscribers log in for the full report:This content is for members only. New Actions Required:This content is for members only. Of Note: How can anyone not continue to be impressed, and impressed again, by the Freeport McMoran Copper & Gold Inc. (...
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BEN's November-End AUM Results - Analyst Blog
Thursday, December 9, 2010 - 8:03pm | 386California-based Franklin Resources Inc. (BEN) reported impressive year-over-year growth in its preliminary month-end assets under management (AUM) by its subsidiaries on December 8. The company's AUM of $642.3 billion at the end of November 30, 2010 registered an increase of 19.0% year over year...
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BEN's November-End AUM Results - Analyst Blog
Thursday, December 9, 2010 - 7:33pm | 386California-based Franklin Resources Inc. (BEN) reported impressive year-over-year growth in its preliminary month-end assets under management (AUM) by its subsidiaries on December 8. The company's AUM of $642.3 billion at the end of November 30, 2010 registered an increase of 19.0% year over year...
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BlackRock Announces Further Refinement To iShares Gold Trust (IAU)
Thursday, December 9, 2010 - 1:56pm | 139BlackRock, Inc. (NYSE: BLK) today announced that the iShares Exchange Traded Funds (ETFs) business, the world's largest ETF manager, has completed the final stage of planned refinements(...)Read the rest of BlackRock Announces Further Refinement To iShares Gold Trust (IAU) Copyright 2010...
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Afternoon Market Update (BTU, NOV, CIEN, JNS, STT)
Thursday, December 9, 2010 - 1:01pm | 217Shares of Ciena Corp (NASDAQ: CIEN) surged about11.8% after the company reported mixed Q4 results, but issued upbeat Q1 sales guidance. Ciena reported Q4 loss at $0.86 per share, versus a loss of $0.29 per share, in the year-ago period. The company's revenue increased to $418 million from $176...
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Good News for Alkermes' Pipeline - Analyst Blog
Thursday, December 9, 2010 - 12:33pm | 655Alkermes Inc.'s (ALKS) pipeline received a boost with its candidate ALKS 33 faring well in a mid-stage study (n=400) in alcohol dependent patients. The candidate is being developed for treating patients suffering from reward disorders and other central nervous system (CNS) problems. The study...
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Good News for Alkermes' Pipeline - Analyst Blog
Thursday, December 9, 2010 - 11:47am | 655Alkermes Inc.'s (ALKS) pipeline received a boost with its candidate ALKS 33 faring well in a mid-stage study (n=400) in alcohol dependent patients. The candidate is being developed for treating patients suffering from reward disorders and other central nervous system (CNS) problems. The study...
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Citi Revises Estimates on Franklin Resources (BEN)
Thursday, December 9, 2010 - 10:59am | 78Citi published its report on Franklin Resources (NYSE: BEN)updating its EPS estimates. In a note to clients, Citi writes, "We lower our F2011-13 estimates to $8.12/$9.38/$10.77 from $8.36/$9.71/$11.03 reflecting lower NAVs + FX. F1Q11 (Dec) EPS is reduced $0.04 to $1.93 on lower flow assumptions (...
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Jefferies Reports Weak Equity Flows on Franklin Resources (BEN)
Thursday, December 9, 2010 - 10:46am | 128Jefferies is out with its report on Franklin Resources (NYSE: BEN) after BEN reported relatively weak equity flows. In a note to clients, BEN writes, "BEN reported Nov 30 total AUM of $642.3bn, down $22.0bn or 3.3% from Oct 31 levels. The $22.0bn includes the previously announced redemption of...
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State Street Sells $11.0B in Securities
Thursday, December 9, 2010 - 9:47am | 64State Street (NYSE: STT) announced today that it has taken actions to strategically reposition its investment portfolio by selling investment securities of approximately $11 billion. The primary asset classes and approximate amounts included in this transaction were U.S. non-agency mortgage-backed...