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Call Purchased in Banco Bradesco
Tuesday, May 11, 2010 - 2:05pm | 110Banco Bradesco (NYSE: BBD), a private-sector bank in Brazil, is receiving bullish call buying today as the stock rises 0.55% to $18.23. The January 2011 $22.50 call was purchased on the offer 2,000 times for $0.81 earlier in the session. Open interest on the line is 2,150 contracts, which may...
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Jazz Pharmaceuticals To Raise $58.5M In Secondary Offering
Tuesday, May 11, 2010 - 1:03pm | 66California-based Jazz Pharmaceuticals (Nasdaq: JAZZ) will raise as much as $58.5 million in a secondary share offering. The company plans to sell 7 million shares to the public at a price of $8.35 a share. The stock is currently trading for $8.44. Barclays Capital (NYSE: BCS) is managing the...
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Company News for May 11, 2010 - Corporate Summary
Tuesday, May 11, 2010 - 9:30am | 197• Fluor (NYSE:FLR) reported better-than-expected first quarter earnings of 76 cents. Revenue was $4.9 billion, which fell shy of Street estimates of $5.1 billion. • Legg Mason (NYSE:LM) posted fiscal fourth quarter earnings, which were 4 cents better-than-expected, at 39 cents. Revenue was $671...
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Presidential Election Makes Colombia ETF One To Watch
Tuesday, May 11, 2010 - 6:45am | 239Name an emerging market ETF and the case can be made that there is some element of political risk associated with that ETF. Narrow the focus to Latin America and you really have to pay attention to politics. Such is the case with the Global X/InterBolsa FTSE Colombia 20 ETF (NYSE: GXG) one of the...
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Virgin Money Drops Out Of RBS Race (RBS, STD, BBVA)
Monday, May 10, 2010 - 6:04pm | 151Richard Branson’s Virgin Money has been expelled from the race for RBS' (NYSE: RBS) branch sale. Virgin was among the four remaining bidders along with Santander (NYSE: STD), BBVA (NYSE:BBVA) and National Australia Bank. Part-Nationalized Royal Bank of Scotland (RBS) is selling 318 of its branches...
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Top Performing Industries For May 10 (CRH, STD, BBVA, AFL, TEF)
Monday, May 10, 2010 - 1:51pm | 290At 12:37 pm, Dow added 403.12 points or 3.88%, to 10,783.55, while the broader Standard & Poor's 500 index rose 46.26 points or 4.16%. The Nasdaq composite index too was up 97.88 points or 4.32%. The industries that are helping the market keep afloat today are: Cement: The top gainer of the day...
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Stifel Upgrades US Bancorp, PNC Financial (USB, PNC)
Monday, May 10, 2010 - 9:24am | 128Stifel this morning upgraded shares of US Bancorp (NYSE: USB) and PNC Financial (NYSE: PNC) to Buy from Hold and raised their price targets to $34 and $85 per share, respectively. The firm says they have waited patiently for a pullback in a select few high quality bank stocks to start building...
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Bookkeeping: Weekly Changes to Fund Positions Year 3, Week 40
Monday, May 10, 2010 - 8:15am | 2609Year 3, Week 40 Major Position Changes To see historic weekly fund changes click here OR the label at the bottom of this entry entitled 'fund positions'. Cash: 85.9% (v 68.2% last week)15 long bias: 10.7% (v 24.5% last week)2 short bias: 3.4% (v 7.0% last week) [Includes 1 'long dollar' position]...
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Bulls Target RBS
Friday, May 7, 2010 - 2:45pm | 92Shares of Royal Bank of Scotland Group (NYSE: RBS) are falling today by 3.61% to $13.35, but options traders are betting that the sell off in the names abates soon and are buying calls. Notably, the May $15 call was purchased on the offer 3,000 times; volume far exceeded open interest. Royal Bank...
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Traders Sell Protection on Banco Santander
Friday, May 7, 2010 - 12:59pm | 138Shares of Banco Santander (NYSE: STD) have been falling off a cliff daily for the past few weeks; shares are down from $15.00 on April 15th. The stock is currently flat on today’s session at $9.92. The stock is trading far below the 50-day and 200-day moving averages, so much so that (couple with...
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Cloning 101
Friday, May 7, 2010 - 12:21pm | 4642If I have seen further it is by standing on the shoulders of giants. — Sir Isaac Newton Picking stocks is hard. Most academic research has shown that individuals stink at it. Many investors have painfully (re)learned this lesson in 2008 as stock markets collapsed around the globe. That being said...
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Uncle Sam Makes $181.1M On Comerica Warrants
Friday, May 7, 2010 - 11:00am | 80The federal government has made a tidy $181.1 million profit from the sale of warrants in regional bank Comerica (NYSE: CMA). The Treasury Department said Friday it sold 11.5 million warrants at a price of $16 per warrant, according to the Associated Press. The warrants give the owners the right to...
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Bookkeeping: Stopped Out of 2/3rds of Remaining HDFC Bank (HDB)
Thursday, May 6, 2010 - 12:14pm | 469Despite a wild valuation that seems excessive, I held a material position in HDFC Bank (HDB) as the "no one loses... valuation no longer matters" stock market continued ever upward. I did take half of the position off after a big run 1 month ago in the $145s, and then sat with the rest. Up to...
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RBS Downgrades WBK To Sell
Thursday, May 6, 2010 - 9:04am | 40Analysts at RBS downgrade Westpac Banking (NYSE: WBK) from "hold" to "sell." WBK’s shares dipped 4.85% to close at $116.70 yesterday. More Analyst Ratings here
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This Europe ETF Is Ready For More Of A Tumble
Thursday, May 6, 2010 - 5:05am | 240You don't need the Professor to tell you that if it has to do with Europe, it very well could be worth shorting these days. That said, here's one specific ETF whose best days are clearly not these days: The SPDR STOXX Europe 50 ETF (NYSE: FEZ). A thinly traded issue with no exposure to Greece or...