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Regional Banks Soar Again (HBAN, CMA, ZION, MI)
Wednesday, April 21, 2010 - 3:20pm | 142Regional banks are posting impressive gains again today as more continue to surpass analyst earnings expectations. Todays big winner is Huntington Bancshares (NASDAQ: HBAN), which is up a whopping 12.69% on the day. The midwest bank swung to a surprise profit and said credit trends continue to...
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CMA Unlikely To Face A Significantly Higher Rate Environment In The Near Term
Wednesday, April 21, 2010 - 1:50pm | 170Analysts at RW Baird reiterate their “neutral” rating on Comerica, Inc (NYSE: CMA). The price target for CMA is set to $35. Comerica reported a loss of $0.46 per share for Q1, which was lower than the estimates and the consensus. TARP related costs/dividends of $123 million adversely impacted CMA’s...
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Morning Market Update (BHP, LEHMQ.PK, JPM, MS, GS, BAC, USB, GOOG, MSFT)
Wednesday, April 21, 2010 - 1:15pm | 434BHP Billiton (NYSE: BHP) may be the subject of a corruption probe. Following an information request from the SEC, BHP said that it has found "possible violations of applicable anti-corruption laws involving interactions with government officials." Although BHP did not disclose the location of the...
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Revealed: The Next Blockbuster Takeover Candidate, NASDAQ:ATPG
Wednesday, April 21, 2010 - 11:48am | 1030There have been billions of dollars in takeovers in the US oilpatch recently, with the most active area by far being the Gulf of Mexico. Apache Corporation (NYSE:APA) made two acquisitions – buying some offshore properties from Devon Energy (NYSE:DVN) for $1 billion, and then spending $3.9...
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Revealed: The Next Blockbuster Takeover Candidate, NASDAQ:ATPG
Wednesday, April 21, 2010 - 11:48am | 1030There have been billions of dollars in takeovers in the US oilpatch recently, with the most active area by far being the Gulf of Mexico. Apache Corporation (NYSE:APA) made two acquisitions – buying some offshore properties from Devon Energy (NYSE:DVN) for $1 billion, and then spending $3.9...
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Boeing Flies Above Zacks Consensus - Analyst Blog
Wednesday, April 21, 2010 - 10:00am | 1012Boeing Company (BA) overcame market pessimism, showing resilience in its core businesses with first quarter fiscal 2010 earnings of 70 cents per share, outpacing the Zacks Consensus Estimate of 64 cents. The company, like its defense Goliath peer Lockheed Martin Corporation (LMT), was affected by...
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Company News for April 21, 2010 - Corporate Summary
Wednesday, April 21, 2010 - 9:45am | 347• Analysts at Deutsche Bank (NYSE:DB), Barclays (NYSE:BCS) and Thomas Weisel raised price targets and iPhone sales estimates for Apple (NASDAQ:AAPL) following last night's blowout earnings and sales report. Apple posted better-than-estimated earnings of $3.33 per share on revenues of $13.5 billion...
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Stock Market News for April 21, 2010 - Market News
Wednesday, April 21, 2010 - 9:45am | 556Better-than-expected profit reports from some big Wall Street names helped overcome concerns that increased financial regulations would limit banks’ lending abilities and eat into their profits. Stocks managed to end higher for a second consecutive day as investors picked up stocks from every...
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US Stock Futures Point To Flat Opening
Wednesday, April 21, 2010 - 9:00am | 251US stock futures were on neutral ground today as investor optimism over blowout earnings by Apple (NASDAQ: AAPL) was tempered by a proposal that could result in banks paying tax to the tune of $2 trillion. While futures on the Nasdaq 100 added 9.25 points to 2033.50, those on the S&P 500 fell a...
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Comerica (CMA) Posts Fifth Quarterly Loss In A Row
Wednesday, April 21, 2010 - 7:52am | 79Comerica Inc. (NYSE: CMA) announced Wednesday morning that it had failed to meet Wall Street estimates, when it reported its fifth consecutive quarterly loss. Comerica Inc. reported a 1st quarter net loss of $71 million, or 46 cents per share, compared with $24 million, or 16 cents per share, a...
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US Stock Futures Rise Marginally Even As GS Is Hit By A Fresh Investigation
Tuesday, April 20, 2010 - 8:46am | 356US stock market futures moved up slightly today, even as nervous investors absorbed reports of a fresh investigation into Goldman Sachs (NYSE: GS) just ahead of the results. While futures for the Dow Jones Industrial Average gained 11 points to 11055, those for the S&P 500 added 1.4 points to...
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Prudential To List On Hong Kong Stock Exchange (PUK, HBC)
Monday, April 19, 2010 - 11:06am | 142Prudential Plc (NYSE: PUK) is working towards getting listed on the Hong Kong stock exchange. According to MarketWatch, advisers to Prudential (PUK) are planning to transfer about 10% of the British insurer’s shares to the Hong Kong stock exchange. The transaction is expected to be worth $2.3...
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Toronto-Dominion Bank (TD) Acquires $3.8 Billion Worth Of Florida Banks’ Assets From FDIC
Friday, April 16, 2010 - 7:29pm | 88Toronto-Dominion Bank (NYSE: TD) has acquired $3.8 billion worth of assets in some Florida banks from FDIC. The acquisition expands Toronto-Dominion’s presence in almost 100 locations in Florida. The bank has entered into a purchase and assumption agreement with the FDIC, which covers Riverside...
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Market Roundup (GOOG, AMD, UBS, HBC, ORCL, PFWD, GE)
Friday, April 16, 2010 - 2:48pm | 335Despite reports showing a rise in home construction and permits for future building, stock futures point to a lower opening. Investor sentiments are being weighed down by lower-than-expected earnings from Google (NASDAQ: GOOG) and Advanced Micro Devices (NYSE: AMD). S&P futures fell 0.47%....
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Shares Of Financial Institutions Drop (GS, MS, JPM, BAC, DB)
Friday, April 16, 2010 - 12:35pm | 166Shares of financial institutions have dropped in trading following the lawsuit filed by the SEC against Goldman Sachs (NYSE: GS). In its lawsuit, the SEC has alleged that Goldman Sachs mislead investors and made profit at their expense. Goldman was down 13.65% to $159.12 in trading. Shares of...