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CBO: Deficits on Budget, Surplus Off - Analyst Blog
Friday, August 20, 2010 - 11:25am | 2288The Congressional Budget Office projects that the budget deficit will total $1.342 trillion in fiscal 2010 (which is a pretty firm projection since the year ends on September 30th). That is $71 billion less than fiscal 2009, and $27 billion lower than what it projected last time it did the numbers...
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Car Charging Group, Inc. Partners With Icon Parking in Manhattan to Offer Electric Vehicle (EV) Charging Stations
Friday, August 20, 2010 - 10:10am | 2789New York City Area Parking Company to Provide Electric Vehicle Charging Services MIAMI BEACH, Fla., Aug. 19, 2010 (GLOBE NEWSWIRE) — Car Charging Group, Inc. (OTCBB:CCGI) today announced it has entered into a pilot agreement with Icon Parking Systems, the premier provider of parking services in...
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American Cap Reiterated at Neutral - Analyst Blog
Thursday, August 19, 2010 - 4:04pm | 600We are reiterating our recommendation on American Capital Ltd. (ACAS) following the company’s earnings release. The reaffirmation takes into account the company’s business model, strategic initiatives, opportunities and challenges. American Capital’s 5 cent shortfall in the second quarter...
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Jefferies Adjusts Estimates And PT On Eaton Vance (EV)
Thursday, August 19, 2010 - 11:33am | 254Jefferies & Company is out with a report, where it maintains its “hold” rating on shares of Eaton Vance (NYSE: EV); it also has lowered its target price to $31.00 from $32.00 on the stock. Eaton Vance is a traditional asset manager focusing on equity, fixed income and bank loan securities....
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Benzinga’s Top Downgrades (COG, CHNG, EV, MOT)
Thursday, August 19, 2010 - 7:47am | 157Cabot Oil & Gas Corporation (NYSE: COG) was downgraded by Morgan Stanley from “equal weight” to “underweight.” COG’s shares closed at $30.15 yesterday. Cabot Oil & Gas’ quarterly earnings dropped 15.10% y/y. Roth Capital downgraded China Natural Gas Inc (NASDAQ: CHNG) from "hold" to "sell...
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Cypress Rejects Ramius Again - Analyst Blog
Wednesday, August 18, 2010 - 3:37pm | 384Cypress Bioscience Inc. (CYPB) recently announced that its Board of Directors rejected Ramius LLC’s acquisition proposal, terming it as inadequate and not in the best interest of shareholders. Ramius had initially offered to acquire Cypress Bioscience for $4 per share in cash. However, following...
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News Summary (DAL, CAL, UAUA, JBLU, LUV, EV)
Wednesday, August 18, 2010 - 11:36am | 192US Airlines showed mixed results today with 6 of its 13 components trading reasonably higher. Some of the shares in positive territory were Delta Air Lines (NYSE: DAL), Continental Airlines (NYSE: CAL) and UAL Corp (NASADQ: UAUA). The shares showing slight losses were JetBlue Airways (NASDAQ: JBLU...
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Earnings Scheduled For August 18 (DE, TGT, AMAT, BJ, LTD, NTAP, PETM, EV, NTES, BRCD)
Wednesday, August 18, 2010 - 5:59am | 273Deere & Co (NYSE: DE) is expected to report its FQ3 profit of $1.23 per share on $6.52 billion in revenue. Target Corp (NYSE: TGT) is estimated to post its Q2 EPS at $0.92 on revenue of $15.62 billion. Applied Materials Inc (NASDAQ: AMAT) is projected to report its FQ3 profit of $0.25 per share...
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BofA to Reduce BlackRock Holding - Analyst Blog
Tuesday, August 17, 2010 - 7:04pm | 875On Sunday, the Wall Street Journal reported that Bank of America Corporation (BAC) is planning to sell its 34.1% (64.7 million common and preferred shares) stake in BlackRock Inc. (BLK). BofA is considering this sale as it does not view the BlackRock stake as a core earnings asset. However, no...
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Janus Capital Reiterated At Neutral - Analyst Blog
Tuesday, August 17, 2010 - 5:07pm | 495We have reiterated our recommendation on Janus Capital Group Inc. (JNS) at Neutral following the company’s earnings release. Our decision is based on the company’s fundamentals and the current economic scenario. Second Quarter Performance Janus Capital’s earnings per share came in at 17 cents...
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Company News for August 16, 2010 - Corporate Summary
Tuesday, August 17, 2010 - 10:43am | 504• Dell (NASDAQ: DELL) said it will buy Fremont, California-based storage company 3Par (NYSE: PAR) in an all-cash deal valued at $18 per share, representing an 86% premium over its Friday close • Lowe's (NYSE: LOW) reported second-quarter earnings of $0.58 per share, on revenues of $14.4 billion, vs...
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Blackstone to Acquire Dynegy - Analyst Blog
Tuesday, August 17, 2010 - 10:04am | 620On Friday, Blackstone Group (BX) announced that it will acquire Houston-based energy company Dynegy Inc. (DYN) for $4.7 billion (including debt). Under the deal, Blackstone will pay $4.50 per share (a 62% premium on the closing price of $2.78 on August 12) in cash for about 120.6 million...
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Keefe Bruyette & Woods Has $31 Target On Alliance Bernstein (AB)
Tuesday, August 17, 2010 - 9:53am | 80Keefe Bruyette & Woods has a $31 price target on shares of Alliance Bernstein (NYSE: AB) after the asset manager reported quarterly earnings. Keefe Bruyette & Woods describes risk to this price target as, "AllianceBernstein's assets, revenues, and earnings are leveraged to the performance...
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Cypress Bioscience Loss Narrows - Analyst Blog
Monday, August 16, 2010 - 3:38pm | 628Cypress Bioscience, Inc. (CYPB) reported a net loss of 5 cents per share in the second quarter, six cents narrower than the Zacks Consensus Estimate and well below the year ago loss of 23 cents, mainly due to higher revenues and a significant decline in operating expenses. Quarter in Detail Second-...
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Blackstone Group To Buy Dynergy With NRG Energy
Monday, August 16, 2010 - 11:00am | 135Dynergy, Inc. (NYSE: DYN) is having its Neutral rating reiterated by Ladenburg Thalmann, but is having its price target lowered from $7.50 to $4.50 (excluding dividends) due to the purchasing of DYN by The Blackstone Group, LP (NYSE: BX) for $4.50 p/s in cash, an purchase totaling $4.7B. Dynergy...