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Market Update – Citigroup (NYSE:C), General Electric (NYSE:GE), Bank of America (NYSE:BAC), Apple (NASDAQ:AAPL), JP Morgan Chase (NYSE:JPM)
Thursday, March 25, 2010 - 11:46am | 1122To start our market update, there’s some good news on the unemployment front in America. First time jobless claims in the United States dropped by 14,000 last week, to 442,000 total. The number is above what economists had predicted for the market, as they were expecting the initial unemployment...
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SEC Probing Hedge Fund Trades (WFC)
Thursday, March 25, 2010 - 9:28am | 149The Wall Street Journal has reported that the U.S. Securities and Exchange Commission (SEC) is probing two hedge funds in regards to their trading activities. The SEC is reviewing trades made by the $13 billion Appaloosa hedge fund around the time that Wells Fargo & Company (NYSE: WFC) agreed...
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Stock Market News for March 24, 2010 - Market News
Wednesday, March 24, 2010 - 9:45am | 446It was the turn of the real estate sector Tuesday to send equities higher as a better-than-expected existing home sales report reconfirmed hopes the economy is slowly beginning to rebound. The blue-chip Dow average gained 103 points, its biggest advance in more than two weeks. Healthcare stocks...
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GMAC Planning To Sell U.S. Factoring Unit To Wells Fargo (WFC)
Wednesday, March 24, 2010 - 8:35am | 124Bloomberg reports that GMAC, the home and auto lender, is planning to sell its U.S. factoring unit to Wells Fargo & Company (NYSE: WFC). According to people close to the situation, the two companies may announce the agreement on Wednesday. Detroit-based GMAC is looking to sell assets to...
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US Bancorp May Make More Acquisitions: Credit Suisse (USB, CS, BBT, FITB, FHN)
Tuesday, March 23, 2010 - 6:06pm | 150In a recently released report, Credit Suisse (NYSE: CS) has stated that Merger & Acquisition activities are likely to drive growth in the regional bank segment. The report is focused on banks with assets greater than $4 billion. Credit Suisse has identified US Bancorp (NYSE: USB) as a potential...
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Market Update – Ford Motor Company (NYSE:F), American International Group (NYSE:AIG), Morgan Stanley (NYSE:MS), Goldman Sachs Group (NYSE:GS), Intel Corporation (NASDAQ:INTC)
Tuesday, March 23, 2010 - 10:20am | 1015The Congressional committee on housing, the Federal Housing Committee, is meeting today to decide what the next move is with Fannie Mae and Freddie Mac. The government nationalized the two massive companies during the housing crisis and they have helped stabilize the housing market since then, in...
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Market Update – Ford Motor Company (NYSE:F), American International Group (NYSE:AIG), Morgan Stanley (NYSE:MS), Goldman Sachs Group (NYSE:GS), Intel Corporation (NASDAQ:INTC)
Tuesday, March 23, 2010 - 10:20am | 1015The Congressional committee on housing, the Federal Housing Committee, is meeting today to decide what the next move is with Fannie Mae and Freddie Mac. The government nationalized the two massive companies during the housing crisis and they have helped stabilize the housing market since then, in...
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Dollar Down after Touching 10-Month High vs EUR
Tuesday, March 23, 2010 - 2:37am | 1315Dollar Down after Touching 10-Month High vs EUR The U.S. Dollar turned slightly lower versus the EUR as traders positioned for a big European Union (EU) meeting this week amid signs of a deepening divide among policy-makers over aid to Greece. Economic News USD – USD Weakens as Risk Sentiment...
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Wachovia To Pay $160 Million In Penalty For Aiding Mexican Drug Cartel; Barron’s (WFC)
Monday, March 22, 2010 - 11:34pm | 402According to a report by Barron’s, Wachovia will pay $160 million in money-laundering penalties. Prosecutors in Miami announced the penalty on March 17. This is largest penalty ever under federal anti-money-laundering laws. Wachovia said that it failed to satisfactorily monitor billions of dollars...
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European Markets Have A Mixed Day (GSK, SNN, IRE, CS, AIB)
Monday, March 22, 2010 - 2:27pm | 277The Wall Street Journal reports that European markets ended lower for a third straight session on Monday. Stoxx Europe 600 Index closed 0.07% lower at 259.3. Meanwhile, the FTSE 100 in U.K. fell 0.1% to close at 5,644.54. Germany’s DAX and France’s CAC-40 ended slightly higher, with the DAX rising...
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HSBC To Increase Its Presence In US (HBC)
Monday, March 22, 2010 - 2:24pm | 142HSBC Holding Plc. (NYSE: HBC) is planning to expand its reach in the US market. The bank opened 18 new branches in 2009. It also plans to open six more this year. The company is trying to capture consumers with ties to Asia, Latin America and Europe. The bank now has multilingual employees...
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Financials Under Pressure, Sights On Financial Reform.
Monday, March 22, 2010 - 1:21pm | 299Financial stocks are weaker today as many investors fear the bulls eye is directly on stocks like Goldman Sachs Group, Inc. (NYSE: GS), JPMorgan Chase & Co. (NYSE: JPM), Wells Fargo & Company (NYSE: WFC), Morgan Stanley (NYSE: MS) and others. Why you may ask? President Obama has just...
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Market News – Johnson & Johnson (NYSE:JNJ), Bank of America (NYSE:BAC), Citigroup (NYSE:C)
Monday, March 22, 2010 - 11:59am | 841The United States’ House of Representatives approved the long awaited and highly controversial Health Care reform bill late Sunday by a vote of 219-212. The bill, which will cost an estimated $940 billion over ten years, will extend health care insurance to 32 million uninsured and underinsured...
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Market News – Johnson & Johnson (NYSE:JNJ), Bank of America (NYSE:BAC), Citigroup (NYSE:C)
Monday, March 22, 2010 - 11:59am | 841The United States’ House of Representatives approved the long awaited and highly controversial Health Care reform bill late Sunday by a vote of 219-212. The bill, which will cost an estimated $940 billion over ten years, will extend health care insurance to 32 million uninsured and underinsured...
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Healthcare Stocks Set To Perform Well, Says Legg Mason’s (LM) Miller
Monday, March 22, 2010 - 8:01am | 325Bill Miller, chief investment officer at Legg Mason (NYSE: LM), expects U.S. healthcare stocks to perform well over the coming few months. Miller believes that with uncertainty over legislation for reforming the sector now over, healthcare stocks should see a strong performance. On Sunday, a long...