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Dynegy Soars On Its Acquisition News
Friday, August 13, 2010 - 11:15am | 81Shares of Dynegy Inc (NYSE: DYN) are jumping after Blackstone Group (NYSE: BX) agreed to buy DYN in a $4.7 billion deal. DYN’s shares gained 58.99% to $4.42 at 9:53 am. DYN will go private following the deal. Dynegy’s shares have lost 26.46% over the last month and dropped 69.28% so far this year...
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Levi & Korsinsky, LLP investigates the Board of Dynergy Inc (DYN, BX)
Friday, August 13, 2010 - 10:45am | 185Levi & Korsinsky is investigating the Board of Directors of Dynergy Inc. (NYSE: DYN) for possible breaches of fiduciary duty and other violations of state law in connection with their attempt to sell the Company to The Blackstone Group L.P. (NYSE: BX). Under the terms of the transaction,...
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A Peek Into The Market Before The Trading Starts
Friday, August 13, 2010 - 9:42am | 417Pre-open movers US stock futures continued to move down today as well, indicating weaker opening of the market. Futures on the Dow Jones Industrial Average dropped 10.00 points to 10,261, those on the S&P 500 fell 1 points to 1,078. Meanwhile, Nasdaq 100 futures lost 2.50 points to 1,825. A...
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Dynergy to be Acquired by Blackstone for $500M+ (DYN, BX)
Friday, August 13, 2010 - 8:59am | 121Dynergy Inc. (NYSE: DYN) announced Friday that it was to be acquired by the Blackstone Group (NYSE: BX) for $542.7 million. Dynergy said its shareholders would receive $4.50 per share in cash for the nearly 121 million shares outstanding, representing a 62% premium from the $2.78 closing price on...
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Dynegy To Be Acquired By Blackstone (DYN)
Friday, August 13, 2010 - 8:28am | 186Dynegy Inc. (NYSE: DYN) today announced that it has entered into a definitive merger agreement pursuant to which it will be acquired by an affiliate of The Blackstone Group L.P. (NYSE: BX) in a transaction valued at approximately $4.7 billion, including the assumption of existing debt. Under the...
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Keefe Bruyette: Quantitative Analysis Of S&P Weekly Financial Share Changes
Thursday, August 12, 2010 - 2:15pm | 171Keefe Bruyette says, “After the close on Wed. 8/11, S&P announced weekly sharecount changes that will be effective after the close on Wed, 8/18. S&P is decreasing the sharecounts of Legg Mason Inc. (NYSE: LM) in the S&P 500 Index and Fair Isaac Corp. (NASDAQ: FICO) in the S&P 400...
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Legg Mason's July AUM Higher - Analyst Blog
Thursday, August 12, 2010 - 1:07pm | 448Legg Mason Inc. (LM) reported preliminary month-end assets under management (AUM) of $659.3 billion for the month of July, up 2.0% from $645.4 billion at the end of the prior month having declined marginally in June from May. The company has recorded a rise in AUM after two consecutive months of...
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What's Hot On TheStreet
Thursday, August 12, 2010 - 10:35am | 280Here's what Benzinga's reading on our friend, TheStreet.com. What's Hot On TheStreet 5 Don'ts of Debt Management Debt is daunting. Fortunately, there are many debt-management counselors there to help when you're in over your head. Unfortunately, there are some debt-settlement companies out to...
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Goldman Sachs Makes Adjustment To its Conviction Buy List (CME, CBG, BKD, BX, SPG)
Thursday, August 12, 2010 - 10:19am | 167Goldman Sachs (NYSE: GS) is out with a research report this morning, where it makes adjustments to its Conviction Buy List. Some of the companies added to the list, solidifying GS’s bullishness on the names, include: • Brookdale Senior Living Inc. (NYSE: BKD): note that this stock was seeing...
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BNY Mellon To Double China Staff
Wednesday, August 11, 2010 - 8:42pm | 117Bank of New York Mellon (NYSE: BK), the world's largest custodian bank, plans to double the staff at its BNY Mellon Western Fund Management Co. unit, the company's China venture, after winning approval to do business in the world's biggest country. In July, BNY Mellon became the first fund...
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Schwab Keeps ETFs Commission-Free - Analyst Blog
Wednesday, August 11, 2010 - 3:37pm | 580Charles Schwab Corp. (SCHW), a big player in the fast-growing exchange traded fund (ETF) market, does not intend to change its commission-free trading policy on its ETFs, Reuters reported on Tuesday. This commission-free trading along with low expense ratio-based core assets will continue to...
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US Stocks Are Having A Free Fall; Financial, Tech, Retail Most Affected
Wednesday, August 11, 2010 - 2:59pm | 306The US market is seeing a sharp fall, with the tech, financial and retail sectors losing their battle to stay afloat primarily as a result of the stance taken by the Fed on the US economy. By 2:32 pm, the Dow has plunged 229.85 points to 10,414.40, the Nasdaq slipped 63.92 and S&P 500 lost 28....
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J.P. Morgan Raising Price Target On Eaton Vance (EV)
Wednesday, August 11, 2010 - 8:17am | 154J.P.Morgan Chase & Co. is raising its price target to $34 from $30 on Eaton Vance (NYSE: EV) given strong market returns in the third quarter, and it is raising earnings estimates as well. In the report J.P.Morgan Chase & Co. notes, "We think that Eaton Vance generated about $3.0 bn of...
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Franklin's July AUM Improves - Analyst Blog
Tuesday, August 10, 2010 - 2:34pm | 596Franklin Resources Inc. (BEN) reported preliminary month-end assets under management (AUM) of $602.9 billion by the company's subsidiaries for the month of July, up 5.7% from $570.5 billion as of June 30, 2010. Assets under management improved 25.0% from $482.4 billion on a year-over-year basis...
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Financial Advisor Survey by iShares and Market Strategies International Finds “Flash Crash” Caused by Issues Related to Market Structure
Tuesday, August 10, 2010 - 2:16pm | 198BlackRock, Inc. (NYSE: BLK) released research findings on financial advisors’ perceptions of and impact from the May 6th market event known as the “Flash Crash,” along with advisors’ views of(...)Read the rest of Financial Advisor Survey by iShares and Market Strategies International Finds “Flash...