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Piper Jaffray Reiterates Overweight On Cardtronics
Wednesday, June 22, 2011 - 7:44am | 170Piper Jaffray is reiterating its Overweight rating and $24 price target on shares of Cardtronics Inc. (NASDAQ: CATM). In a note to clients, Piper Jaffray writes, "CATM announced an agreement to acquire EDC for about $145m. The deal will be financed with availability under its $220M credit facility...
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Goldman Sachs Reiterates Neutral on Discover Financial Services
Wednesday, June 22, 2011 - 6:43am | 129Goldman Sachs reiterated its Neutral rating on Discover Financial Services (NYSE: DFS). At the same time, Goldman stressed its optimism about the company's near-term performance. In a research report published today, Goldman states, "While we remain Neutral rated, we do believe the shares could...
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Cardtronics to Acquire EDC ATM Business for $145M
Tuesday, June 21, 2011 - 4:42pm | 155Cardtronics, Inc. (Nasdaq: CATM) today announced that its wholly-owned subsidiary, Cardtronics USA, Inc. has entered into a definitive agreement under which it will acquire EDC ATM Subsidiary, LLC and Efmark Deployment I, Inc. Under the terms of the agreement, and upon closing, Cardtronics will...
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UPDATE: J.P. Morgan Color on Discover Financial PT Increase
Tuesday, June 21, 2011 - 8:58am | 101J.P. Morgan, which raised its PT on shares of Discover Financial (NYSE: DFS), is providing some color on the stock. “Despite an improved risk profile, shares of DFS appear fully valued,” J.P. Morgan writes. “We remain skeptical with respect to the company's ability to generate organic asset growth...
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Citi Raises Q2 Estimates On Discover Financial Services To $0.73
Tuesday, June 21, 2011 - 8:02am | 112According to Citi, Discover Financial Services (NYSE: DFS) Q2 estimate is raised to $0.73. Citi said that it is raising its Q2 est to $0.73 to reflect better credit (consensus is $0.69). “As of Q1, mgt noted their 10.2% TCE/TMA vs. their long-term 8% target, which left them with $1.4 B of excess...
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Bank Of America Comments On Discover Financial's Positive Trends
Tuesday, June 21, 2011 - 7:55am | 123According to Bank of America, Discover Financial Services (NYSE: DFS) currently trades at 7x its 2012 EPS estimate, below its historical average multiple, as its credit leverage and earning potential remain under-appreciated by the Street. Bank of America said that it expects investors to focus on...
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JP Morgan Raises PT On Discover Financial To $24
Tuesday, June 21, 2011 - 5:56am | 27JP Morgan has raised the price target on Discover Financial (NYSE: DFS) from $21 to $24 and maintains its Neutral rating.
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Cash America Hits New 52 Week High
Monday, June 20, 2011 - 3:47pm | 78Cash America International, Inc. (NYSE: CSH) shares have hit a new 52 week high, as pawn shops continue to see strong demand for their services. At last check, shares of Cash America were up $2.00 to $52.86, a gain of 3.93% on 300,000 shares today. Cash America International, Inc. provides...
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Financial Sector Dragging the Market
Monday, June 20, 2011 - 2:50pm | 449The Financials Sector is the weakest area of the S&P 500 in today's session, currently down 0.2% on the day. The weakest stocks currently in the S&P 500 Financials Sector are: 1) Goldman Sachs (NYSE: GS): Shares of Goldman Sachs are currently trading down 1.9% from Friday's close to $134....
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PNC Moves On RBC Unit For $3.45B
Monday, June 20, 2011 - 1:19am | 214PNC Financial Services (NYSE: PNC), the Pennsylvania-based regional banking giant, may announce as early as Monday that it will acquire the retail banking business of Royal Bank of Canada (NYSE: RY) for $3.45 billion in cash and stock, Bloomberg News reported, citing sources with knowledge of the...
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Credit Acceptance Announces Extension and Increase of Revolving Secured Line of Credit Facility
Friday, June 17, 2011 - 4:06pm | 49Credit Acceptance Corporation (NASDAQ: CACC) announced today that we have extended the maturity and increased the amount of our revolving secured line of credit facility and extended the date on which our $325.0 million revolving secured warehouse facility will cease to revolve.
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News Summary
Friday, June 17, 2011 - 9:36am | 238Shares of Amdocs Ltd (NYSE: DOX) rose about 0.5% after the company agreed to acquire Bridgewater Systems Corp for C$8.20 per share in cash, or about C$211 million ($214 million) in total. The Boards of Directors of both the companies have each unanimously approved the deal. The deal is likely to be...
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J.P. Morgan Suspends Rating And Price Target On Capital One
Friday, June 17, 2011 - 8:49am | 74According to J.P. Morgan, Capital One (NYSE: COF) price target and rating is suspended. J.P. Morgan said that, due to its involvement in the transaction announced on June 16, 2011, it is suspending its rating and price target on Capital One (COF). “Our prior rating and price target should no...
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Piper Jaffray Reiterates Neutral and PT of $40 on Capital One Financial
Friday, June 17, 2011 - 7:48am | 182Piper Jaffray reiterates its Neutral rating on Capital One Financial (NYSE: COF). At the same time, Piper Jaffray left its price target on the company's stock unchanged at $40. In a research report published today, Piper Jaffray commented on the company's acquisition of ING Direct. In the report,...
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KBW Has Market Perform On Capital One Financial
Friday, June 17, 2011 - 7:38am | 45KBW has a Market Perform rating and a $59 price target on shares of Capital One Financial (NYSE: COF) after it agreed to buy ING Direct yesterday. Shares of COF gained $1.13 yesterday to close at $49.00, a gain of 2.36%.