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CCRT Downgraded To Underperform At Keefe Bruyette
Wednesday, May 19, 2010 - 6:57am | 51Analysts at Keefe Bruyette downgrade CompuCredit Holdings Corp (NASDAQ: CCRT) from "market perform" to "underperform." The target price for CCRT is set to $3. CCRT’s shares dipped 5.92% to close at $5.56 yesterday. More Analyst Ratings here
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It Takes Two to Contango 05-18-2010
Tuesday, May 18, 2010 - 6:26pm | 786Cusick’s Corner The market closed well off the initial pace of the open. While the EU is the driving force behind this market pressure, I do not want to lose sight that this is expiration week. We have already seen what the impact has been so far with June Crude expiring today. Why would something...
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Paulson Retains Large Bank Stakes (BAC, C, JPM, WFC)
Tuesday, May 18, 2010 - 4:55pm | 207Noted hedge fund manager John Paulson added 16.8 million Bank of America (NYSE: BAC) shares to his kitty during the period ended on March 31. He is among Bank of America’s (NYSE: BAC) biggest shareholders. According to a statement filed with the regulatory authorities, Paulson also bought 17...
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Consumer Stocks Led To Gains In The US Market Yesterday
Tuesday, May 18, 2010 - 5:16am | 283US stocks witnessed an upside yesterday, with the consumer stocks leading the gains. However, Eurozone worries kept investors away from the energy and materials firms and the industrial stocks that are dependent on global growth. While the Dow Jones Industrial Average spent most of the yesterday’s...
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American Express To Bid For WorldPay (RBS, AXP)
Monday, May 17, 2010 - 11:17am | 154American Express Co. (NYSE: AXP) has entered the race for Royal Bank of Scotland’s (NYSE: RBS) payment processing arm. The bank is collaborating with British private equity firm Permira for the bid. The Financial Times has reported that French software firm Atos Origin has also teamed up with the...
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Puts Purchased in Discover Financial (DFS)
Monday, May 17, 2010 - 11:10am | 95Shares of Discover Financial Services (NYSE: DFS) are flat on the session, currently trading $14.24, after the stock made a hard slide on Friday along with all the other credit card names. DFS is now sitting on the 200-day moving average. It is still unclear if there is enough support for the...
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Bookkeeping: Weekly Changes to Fund Positions Year 3, Week 41
Monday, May 17, 2010 - 8:15am | 2193Year 3, Week 41 Major Position Changes To see historic weekly fund changes click here OR the label at the bottom of this entry entitled 'fund positions'. Cash: 75.0% (v 85.9% last week)20 long bias: 18.2% (v 10.7% last week)4 short bias: 6.8% (v 3.4% last week) [Includes 1 'long dollar' position; 1...
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Keefe Bruyette Upgrades ACF To Market Perform
Monday, May 17, 2010 - 7:30am | 41Analysts at Keefe Bruyette upgrade AmeriCredit (NYSE: ACF) from "underperform" to "market perform." ACF moved down 2.31% to close at $21.96 on Friday. More Analyst Ratings here
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Ladenburg Thalmann Credit Card Update (AXP, BAC, COF, DFS, JPM)
Friday, May 14, 2010 - 12:42pm | 225In a monthly credit card preview, Ladenburg Thalmann analysts wrote that "for card issuers that we cover, our analysis points to lower net charge-offs and delinquencies for all issuers." The firm said that it expects net charge-offs at American Express (NYSE: AXP) to be 7.2%, which is down 30 bps...
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Card Issuers Drop On News About A New Regulation (V, MA, AXP, DFS)
Friday, May 14, 2010 - 10:25am | 114A new addition in the financial reform bill will affect card issuers like Visa (NYSE: V) and MasterCard (NYSE: MA). The proposed regulation will limit the interchange fee on debit and credit card transactions. This would mean more control in hands of the merchants. The news brought down the shares...
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Visa Plummets on Reform Vote
Friday, May 14, 2010 - 9:03am | 146Shares of Visa Inc. (NYSE: V) are plummeting in the pre-market, currently off 8.43% to $79.31 after U.S. Senate lawmakers handed a victory to retailers over the issue of so-called "swipe fees" for card transactions. Senators voted 64-33 in favor of Sen. Richard Durbin’s (D., Ill.) bill that would...
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US Stocks Tumbled Yesterday, Led By The Consumer-Discretionary Sector
Friday, May 14, 2010 - 5:13am | 273US stocks plunged yesterday in the wake of disappointing earnings guidance and results reported by the consumer-discretionary sector retailers Kohl's (NYSE: KSS) and Urban Outfitters (NASDAQ: URBN). Additionally, a positive outlook from Cisco Systems (NASDAQ: CSCO) could not revive investor...
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COF Downgraded To Neutral At Macquarie
Thursday, May 13, 2010 - 6:49am | 48Analysts at Macquarie Capital Markets downgrade Capital One (NYSE: COF) from "outperform" to "neutral." The target price for COF is set to $49. COF gained 4.09% to close at $46.61 yesterday. More Analyst Ratings here
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Bookkeeping: Closing Discover Financial Services (DFS), Replacing with Capital One Financial (COF)
Tuesday, May 11, 2010 - 12:01pm | 959One problem with the markets the past 3 years has been it's been a 'student body left' environment where almost everything rises or falls together. Very little value add by picking individual equities as the market direction (or sector) is almost everything. This might not change in the near...
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Stock Market News for May 10, 2010 - Market News
Monday, May 10, 2010 - 10:06am | 421US stock futures were sharply up earlier today, and major European bourses surged, after European leaders agreed to a nearly $ 1 trillion rescue plan to avoid a major debt crisis and the Fed said it would provide loans overseas. Stocks tumbled in the US amid heavy volume on Friday, capping their...