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Piper Jaffray Lowers Its Price Target on Global Payments (GPN)
Thursday, July 8, 2010 - 10:22am | 310Piper Jaffray is out with an analyst note this morning, where it reiterates its Overweight rating on shares of Global Payments Inc. (NYSE: GPN); it also lowered its price target on the stock from $54.00 to $48.00. The Piper Jaffray analysts said, “According to recent commentary from Visa (NYSE: V...
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Stock Market News for July 8, 2010 - Market News
Thursday, July 8, 2010 - 9:42am | 596Stocks rallied sharply on Wednesday, building on to Tuesday’s modest gains, as a better-than-expected earnings outlook from State Street fueled optimism about the approaching earnings season. The Dow Jones industrial average rallied 275 points, closing above the 10,000 threshold for the first time...
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KBW Upgrades Americredit to Outperform (ACF)
Thursday, July 1, 2010 - 10:18am | 102Analysts at Keefe, Bruyette and Woods upgraded their outlook of Americredit Corp. (NYSE: ACF) to Outperform earlier today, citing improving fundamentals following a recent conference. According to the analyst report, "CEO Dan Berce provided some guidance for fiscal 4Q10 results, including favorable...
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Late Market Update
Wednesday, June 30, 2010 - 3:56pm | 189Moody's Investors Service is likely to downgrade Spain’s sovereign ratings due to weakening economic conditions. The ratings agency expects to cut the ratings by a maximum of one or two notches. Moody's vice president and lead analyst for Spain, Kathrin Muehlbronner, mentioned, "Spain's growth...
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15 Stocks the Street is Shorting
Tuesday, June 29, 2010 - 1:31pm | 132Here are 15 stocks that the street is continuing to get more and more bearish on since the beginning of this year. Their short interest has continued to rapidly increase against their historical norms, and should be the leaders to the downside in the continued sell-off by the market....
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Stock Market News for June 28, 2010 - Market News
Monday, June 28, 2010 - 10:20am | 453Banking stocks rallied Friday as the Congress reached an agreement on the contentious financial reform regulation, but the gains were not enough to push the broader markets higher. A downwardly revised first-quarter economic growth added to investors’ jitters and capped a week that saw China...
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Bookkeeping: Weekly Changes to Fund Positions Year 3, Week 47
Monday, June 28, 2010 - 8:19am | 1439Year 3, Week 47 Major Position Changes To see historic weekly fund changes click here OR the label at the bottom of this entry entitled 'fund positions'. Cash: 76.2% (v 70.8% last week) 17 long bias: 21.8% (v 16.8% last week) 2 short bias: 2.0% (v 12.5% last week) [Includes 1 'long dollar'...
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Company News for June 25, 2010 - Corporate Summary
Friday, June 25, 2010 - 9:57am | 243• Oracle (NASDAQ:ORCL) reported better-than-expected fiscal fourth quarter earnings of 60 cents, eight cents better than Zacks expectations, on revenues of $9.6 billion, up from the $9.5 billion expected. The firm noted, "We continue to take large chunks of market share away from SAP." FBR...
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2010 Fund Performance Period 6
Thursday, June 24, 2010 - 3:54pm | 3836If, after reading the blog content you might have an interest in participation for the mutual fund, please consider reading why this blog exists. [Jan 2008: Reader Pledges Toward Mutual Fund Launch] [May 2008: Frequently Asked Questions] Our story in Barron's [A New Kind of Fund Manager] [...
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Monday's "You Got Punked" Short Stop Losses
Thursday, June 24, 2010 - 1:45pm | 808Since the market had been gapping up and down so much the past 4-5 weeks, I decided a few weeks ago to go back to the old fashioned hedging and build up a portfolio of names on the short side of the book, to offset longs. Coming into the week I was net long, and said if the S&P 500 jumped over...
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Puts Sold on SLM Corp (SLM)
Tuesday, June 22, 2010 - 12:08pm | 165Shares of SLM Corp. (NYSE: SLM) are higher on the session by 0.92%, currently trading at $12.11. The stock has been rallying over the past week and has now regained the 50-day and 200-day moving averages after a large sell off in May. Options traders are drawing a line in the sand for SLM. The...
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Discover Earnings Report Due Thursday; Jefferies (DFS)
Tuesday, June 22, 2010 - 10:15am | 110Discovery Financial Services (NYSE: DFS) is releasing its FY2Q earnings report on Thursday, Jun 24th. Jefferies analysts Richard Shane, Jonathan Philpot, and Roman Leal maintained their Buy rating for DFS ahead of the expected earnings report. Their price target is $18.00, based on a 11x multiple...
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Stock Market News for June 22, 2010 - Market News
Tuesday, June 22, 2010 - 9:51am | 608Beijing’s weekend promise of a more flexible renminbi invigorated markets across the globe but absence of clear-cut details in China’s pledge had Wall Street wiping off strong early-morning gains in a late-day slide. The Dow average closed down 8 points, after having risen as much as 143 points in...
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Bookkeeping: Some Stop Losses on Short Side Trigger
Monday, June 21, 2010 - 10:17am | 716As expected with such a large gap up as risk in "on" (wax on, wax off, student body left, student body right) some stop losses on the short side have hit this morning. It goes without saying that now that we are over both the 50 (exponential) and 200 day moving averages - the thought process...
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Bookkeeping: Weekly Changes to Fund Positions Year 3, Week 46
Sunday, June 20, 2010 - 10:14pm | 2482Year 3, Week 46 Major Position Changes To see historic weekly fund changes click here OR the label at the bottom of this entry entitled 'fund positions'. Cash:70.8% (v 84.8% last week) 16 long bias: 16.8% (v 13.1% last week) 8 short bias: 12.5% (v 2.1% last week) [Includes 1 'long dollar'...