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Bank Layoffs Continue: UBS Cuts 3,500 Jobs
Tuesday, August 23, 2011 - 6:28am | 229Swiss bank UBS (NYSE: UBS) announced plans Tuesday to cut approximately 3,500 jobs in its global workforce, as the wave of cost-cutting initiatives continues through Wall Street. The layoffs are part of a measure to save the bank 2 billion Swiss francs, or about $2.5 billion. UBS expects to see...
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Earnings Scheduled For August 23
Tuesday, August 23, 2011 - 3:23am | 481Williams-Sonoma Inc (NYSE: WSM) is expected to report its Q2 EPS at $0.36 on revenue of $823.97 million. American Woodmark Corporation (NASDAQ: AMWD) is estimated to post a Q1 loss at $0.17 per share on revenue of $116.18 million. La-Z-Boy Incorporated (NYSE: LZB) is projected to report its FQ1...
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Another Early Rally Goes Up In Smoke
Monday, August 22, 2011 - 3:29pm | 308Traders should remember the old market adage, it is not how they open them, it is how they close them. This morning, the major stock indexes started the morning sharply higher, however, that rally began to fade once the opening bell rang at the New York Stock Exchange. Traders are really showing...
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What Would You Rather Have? All The Money In Europe, Or Apple?
Friday, August 19, 2011 - 2:02pm | 172You know you are great when you are worth as much as all the banks in Europe. Apple (NASDAQ: AAPL) is now worth as much as the 32 largest banks in the Euro zone, according to Reuters. As a result of the sharp increase in volatility over the past few weeks, and recent share prices declines in some...
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Notable Put Options Activity in The Royal Bank of Scotland Group
Friday, August 19, 2011 - 12:20pm | 116Shares of The Royal Bank of Scotland Group (NYSE: RBS) are lower on the session by 4.64%, currently trading at $6.98. The stock has been moving largely lower over the past three months and is currently trading below the 50-day moving average. Options traders are focusing on puts today. A short...
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Dr Faessel - ON THE MARKET -- 8-19-2011
Friday, August 19, 2011 - 7:56am | 876Global Panic! Recession? Tremendous Value... S&P futures are down 20 points at this posting. Banks are getting slammedagain in European trading; Barclays (BCS) -6%, RBS (RBS) -3.7%, Lloyds (LYG) -6%, SocGen (SCGLY.PK) -3.4%, Deutsche Bank (DB) -3.2%, and UniCredit (UNCIF.PK) -5.3%....
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Bank of America to Cut 3,500 Jobs, with Possibility of More Layoffs: Report
Friday, August 19, 2011 - 6:18am | 207Bank of America (NYSE: BAC) is considering a cut to its workforce of 3,500 jobs, with the possibility of more, according to a report Friday from the Wall Street Journal. The restructuring would remove numerous positions across the bank, in an initiative call "Project New BAC." According to The...
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Mad Money Lightning Round: Cramer Likes Sanofi-Aventis
Friday, August 19, 2011 - 3:48am | 116On CNBC's Mad Money, Jim Cramer said during the Lightning Round that Sanofi-Aventis (NYSE: SNY) has a “great yield.” He advises investors to buy the stock. Cramer remains “bullish on EOG Resources (NYSE: EOG).” For Bank of Montreal (NYSE: BMO), he said, “Although I do not like U.S. banks right...
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Banks Will Tell Us Everything We Need To Know
Thursday, August 18, 2011 - 11:02am | 374The large financial Stocks have lead the markets lower throughout 2011. This morning, bank stocks around the world are declining sharply lower. The leading bank stock in the United States is J.P. Morgan Chase & Co.(NYSE: JPM). This market leading financial stock is declining lower by $1.92 to $...
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Banks And Oil Keep Market From Collapsing
Wednesday, August 17, 2011 - 1:58pm | 260After early strong gains, the stock markets started to sell. This was driven by a stronger Dollar in late morning trading and continued fear from Europe. The markets are hovering in a range over the last three trading days. This is known as consolidation and bullish as long as the pattern does not...
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Was Wells Fargo Joking When It Said Gold Is In A Bubble?
Wednesday, August 17, 2011 - 1:20pm | 480Some holders of gold must have been spooked out of their gold Tuesday when the analysts at Wells Fargo Private Bank (NYSE: WFC) said gold was in a bubble. Not only did they say gold was in a bubble, but it was in a "bubble that is poised to burst." You have to wonder if it was a cruel joke to get...
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Financial Stocks On Fire, This Is All You Need To Follow
Wednesday, August 17, 2011 - 10:42am | 201This morning, the too big to fail financial institutions are surging higher. When the large financial stocks rally it is a sign that investors are willing to take on risk. After all, it has been the financial stocks that have lead the markets lower since May 2011. As long as this sector shows...
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Mizuho Financial Group to Acquire Balimor Finance for $52M -Nikkei
Tuesday, August 16, 2011 - 1:21pm | 34Mizuho Financial Group (NYSE: MFG) is planning to acquire Balimor Finance, an Indonesian auto loan provider, by purchasing $52 million in Balimor Stock through a private placement.
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Sterne Agee Lowers PT On Comerica To $35
Tuesday, August 16, 2011 - 7:49am | 26Sterne Agee has lowered the price target on Comerica (NYSE: CMA) from $43 to $35 and maintains its Buy rating.
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News Summary for August 16, 2011
Tuesday, August 16, 2011 - 7:44am | 642This is your Benzinga news summary and traders' outlook for Tuesday, August 16, 2011, covering headlines from overnight and Tuesday's pre-market session. Today in domestic pre-market trading, U.S. equity futures are trading lower. At last check, Dow futures are down over 100 points and the U.S....