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Repsol Plans Brazil IPO
Friday, July 30, 2010 - 10:18pm | 168Repsol (NYSE: REP), Spain's largest oil company, is looking to raise $4 billion in an initial public offering of the company's Brazilian business, valuing the 40% stake Repsol plans to sell at $10 billion. Repsol plans to use the proceeds to fund its expansion plans in Brazil. The company has...
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CME Beats on Higher Top Line - Analyst Blog
Thursday, July 29, 2010 - 6:15pm | 452CME Group Inc.’s (CME) second quarter operating earnings of $4.43 per share were substantially ahead of the Zacks Consensus Estimate of $4.30. Earnings for the reported quarter excluded a $20.5 million writedown of goodwill in relation to the company's subsidiary, Credit Market Analysis Limited (...
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Warren Buffett, Growth Investor?
Thursday, July 29, 2010 - 8:25am | 286NEW YORK (TheStreet) -- Most people consider Warren Buffett a value investor, but his methods aren't so simple. His style has evolved over the years and incorporated strategies of growth investing. For this reason -- having taught his principles for 20 years and benefited from them personally, and...
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Banco Santander Profit Falls
Thursday, July 29, 2010 - 6:48am | 168Banco Santander (NYSE: STD), Spain's biggest bank, said its second-quarter profit dipped 8% to $2.9 billion from over $3 billion a year earlier, missing consensus estimates. The bank said weakness in its home market of Spain was offset by growth in Brazil. Profit at the bank's Brazilian unit is...
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BP May Sell Venezuela Assets To Russian Venture
Thursday, July 29, 2010 - 6:30am | 172BP (NYSE: BP), Europe's largest oil company by production volume, may sell its interest in three Venezuela oil projects to the company's TNK-BP Holding, BP's Russian venture. TNK-BP is the destination for BP CEO Tony Hayward come October 1. Hayward will be replaced by Robert Dudley, the former head...
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Puts Purchased on National Bank of Greece (NBG)
Wednesday, July 28, 2010 - 12:35pm | 124Shares of National Bank of Greece SA (NYSE: NBG) are lower on the session by 3.34%, currently trading at $2.89. The stock has been moving largely lower over the past six months and is currently in a technical downtrend. Options traders are buying puts on the name today. The February 2011 $2.00 put...
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Boeing Beats, but Stock Falls - Analyst Blog
Wednesday, July 28, 2010 - 11:31am | 704The Boeing Company (BA) overcame market pessimism, showing resilience in its core businesses with second quarter fiscal 2010 earnings of $1.06 per share, outpacing the Zacks Consensus Estimate of $1.01. The company’s results reflect solid performance across its core businesses amid lower volumes....
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Charting The -1.0 Correlation Between Stock Prices And Volume
Tuesday, July 27, 2010 - 7:04pm | 561Charting The -1.000 Correlation Between Stock Prices And Volume Courtesy of Tyler Durden In our day and age, when implied correlation is approaching 1 with each passing day, and when nuanced relationships are ignored, as every correlation somehow immediately becomes causation only to be invalidated...
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Company News for July 26, 2010 - Corporate Summary
Monday, July 26, 2010 - 10:20am | 288• Sunday's WSJ reported that GlaxoSmithKline (NYSE: GSK) had made a "very casual approach" to Genzyme (NASDAQ: GENZ) • Reports say embattled BP (NYSE: BP) CEO Tony Hayward is on his way out, as the firm reports results tomorrow, with American executive Bob Dudley expected to replace Hayward • ...
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A Peek Into The Market Before The Trading Starts
Friday, July 23, 2010 - 8:29am | 448Pre-open movers After moving up modestly on strong economic data from the UK and Germany, US stock futures held their gains after Honeywell (NYSE: HON) and Ford (NYSE: F) reported their results. While futures on the Dow Jones Industrial Average added 30 points to 10297, those on the S&P 500...
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Stressed Out Over The Stress Tests? You Should Be
Friday, July 23, 2010 - 8:26am | 188The European Stress tests are set to be announced today at 12 p.m. and it seems like we are being set up to fall after announcement of the tests. Everything I've read about how the tests were conducted makes me think that they were too easy on the European banks and that hardly anyone failed. We...
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Banco Santander S.A. Announces Completion of Tender Offer for Shares of Santander BanCorp
Friday, July 23, 2010 - 8:18am | 196Banco Santander S.A. (NYSE: STD) today announced the completion of the tender offer by its wholly-owned subsidiary, Administracion de Bancos Latinoamericanos Santander, S.L. ("ABLASA"), for all outstanding shares of common stock of Santander BanCorp (SBP) not owned by ABLASA at US$12.69 per share....
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Benzinga's Top ETF Decliners (DRV, TZA, SRTY, DPK)
Thursday, July 22, 2010 - 4:57pm | 198Direxion Daily Real Estate Bear 3X (ETF) (NYSE: DRV) fell 11.41% today, as the real estate sector rebounded. Kimco Realty Corporation (NYSE: KIM) gained 5.49%, and Vornado Realty Trust (NYSE: VNO) added 4.69%. Direxion Small Cap Bear 3X Shares (ETF) (NYSE: TZA) fell 10.70%, as the Russell 2000...
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Dick Bove Upgrades Wells Fargo To Buy (WFC)
Thursday, July 22, 2010 - 10:28am | 137Rochdale Securities analyst Richard Bove raised his rating on Wells Fargo (NYSE: WFC) to buy from hold Thursday on optimism about the banking giant's access to cheap funding. Bove raised his price target on the stock to $30 from $29. Wells Fargo increased its deposits by almost $11 billion to $816...
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Latin American Banks See Improving Trends
Thursday, July 22, 2010 - 8:09am | 257As the trends among the Latin American Banks continues to improve, Goldman Sachs outlines a few summaries involving the progress: Brazil banks maintain a positive path, due to strong GDP growth and high interest rates, and are expected to have loans growth continue from the 1Q reports. Top picks...