-
Oppenheimer Maintains Perform on Capital One Financial
Friday, June 17, 2011 - 7:34am | 159Oppenheimer is out with its report today on Capital One Financial (NYSE: COF), maintaining Perform. In a note to clients, Oppenheimer writes, "Although we like the business model and believe that COF has a valuable franchise, revenue and pre-provision earnings comparisons will be very difficult...
-
Capital One To Buy ING Direct, ING Shares Rise In Pre-Market Trading
Friday, June 17, 2011 - 6:50am | 105Shares of ING Groep NV (NYSE: ING) gained more than 4% in pre-market trading after Capital One Financial Corp (NYSE: COF) agreed to purchase ING Direct from ING Groep for $9 billion in cash and stock. Capital One will pay $6.2 billion in cash and $2.8 billion in stock. As a part of the deal, ING...
-
US Stock Futures Up, RIM Shares Tumble In Pre-Market Trading
Friday, June 17, 2011 - 6:13am | 467US stock futures are higher this morning. Shares of Research in Motion Ltd (NASDAQ: RIMM) dropped in pre-market trading after the company cut its earnings forecast. Futures on the Dow Jones Industrial Average gained 21 points to 11,920.00 and futures on the S&P 500 stock index rose 2.30 points...
-
Stocks To Watch For June 17
Friday, June 17, 2011 - 12:02am | 406Some of the stocks that may grab investor focus today are: Research In Motion Limited (NASDAQ: RIMM) cut its earnings forecast for the year and announced its plans to cut an unspecified number of jobs. RIMM reported its quarterly net income at $695 million, or $1.33 per share, versus a net income...
-
Paulson's Biggest Fund Loses 20% In 2011
Thursday, June 16, 2011 - 12:39pm | 176According to reports in Reuters, Paulson & Co.'s Advantage Plus hedge fund is down around 20% for 2011 after losing 13% in the first two weeks of June. The fund was hit hard by the implosion of Sino-Forest (PINK:SNOFF), which has lost 83.66% in the last month, after a short-seller's report...
-
News Summary for June 16, 2011
Thursday, June 16, 2011 - 8:22am | 302This is your Benzinga news summary and traders' outlook for Thursday, June 16, 2011, covering headlines from overnight and Thursday's pre-market session. Today in domestic pre-market trading, U.S. equity futures are trading flat after the markets posted over a 1.5% loss yesterday. The U.S. dollar...
-
Positive Signs Point to Credit Growth in 2H11, J.P. Morgan Reports
Thursday, June 16, 2011 - 8:07am | 120J.P. Morgan believes the most notable development from the managed data releases – American Express Company (NYSE: AXP) and Capital One Financial Corp. (NYSE: COF) – is a positive indication that growth may resume for certain issuers in 2H11. “AXP reported its second consecutive month of Y/Y...
-
Citi Updates 6/16
Thursday, June 16, 2011 - 8:02am | 742Citi made a number of updates in a research report published today. Solar Capital (NASDAQ: SLRC) has been downgraded from Hold to Buy. At the same time, Citi reduced its price target on the companies stock from $28 to $26. In the report, Citi states, "We are downgrading the shares of SLRC to a...
-
Bank of America Merrill Lynch Maintains Buy on Discover Financial Services
Thursday, June 16, 2011 - 7:41am | 127Bank of America Merrill Lynch is out with its report today on Discover Financial Services (NYSE: DFS), maintaining Buy. In a note to clients, Bank of America Merrill Lynch writes, "Capital generation should remain robust, in our view, with stable margins and improving credit. That said, DFS...
-
Stocks to Watch for 6/16/11: Fresh 52-Week Highs and Lows
Thursday, June 16, 2011 - 2:28am | 2229The following stocks hit new 52-week highs in Wednesday's trading session 1) Ulta Salon, Cosmetics & Fragrances (NASDAQ: ULTA): Shares of Ulta hit a 52-week high of $59.40 in Wednesday's trading session. The stock closed at $57.03. The year-to-date performance of Ulta has been a gain of 67.7...
-
Discover Financial Services Announces $1B Share Repurchase Program
Wednesday, June 15, 2011 - 5:08pm | 50Discover Financial Services (NYSE: DFS) today announced that its Board of Directors has approved a share repurchase program, authorizing the company to purchase up to $1 billion of its common stock. The program expires on June 14, 2013, and may be terminated at any time.
-
What's Hot On TheStreet
Wednesday, June 15, 2011 - 2:11pm | 219Here's what Benzinga's reading on our friend, TheStreet.com. What's Hot On TheStreet Pricey Car Loan? Blame the Dealer Any time you go to buy a car -- new or used -- when you're done haggling you know just what your new baby (and all the trimmings you chose) will cost. Best, Worst E-Retailers for...
-
American Express May Credit Data
Wednesday, June 15, 2011 - 11:11am | 34American Express (NYSE: AXP) reports May U.S. Managed Net write-off rate of 3.2% vs 3.5% in April and May loans 30-days past due of 1.6% vs 1.7% in April.
-
Bank of America Reiterates Buy on Capital One Financial Corporation
Wednesday, June 15, 2011 - 9:01am | 106Bank of America reiterated its Buy rating on Capital One Financial Corporation (NYSE: COF). In a research report published today, Bank of America states, "We remain bullish on COF shares, as we continue to believe the market under- appreciates the earnings leverage from improving credit. Deal risk...
-
Citi Has Buy On Capital One
Wednesday, June 15, 2011 - 8:45am | 104Citi Investment Research has a Buy rating and a $60 price target on shares of Capital One Financial (NYSE: COF). In a note to clients, Citi writes, "COF May monthly managed credit data showed a -10 bps decline in the Nat'l Lending net charge-off (NCO) rate to 4.15% while delinquencies were up 5...