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Bank Of Nova Scotia Agrees To Buy A Stake In Siam City Bank (BNS)
Thursday, March 11, 2010 - 4:10pm | 105Bank of Nova Scotia (NYSE: BNS) has agreed to buy a 47.6 percent stake in Siam City Bank. The deal is expected to be worth $1 billion. Bank of Nova Scotia will buy the stake through Thanachart Bank. Nova Scotia has a 49 percent stake in Thanachart Bank. The deal will help the Canadian Bank in...
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Market Roundup (HBC, TM, JPM, BUD, XOM)
Thursday, March 11, 2010 - 2:54pm | 284HSBC (NYSE: HBC) has disclosed that up to 24,000 accounts were affected when a former employee stole customer data three years ago and submitted it to French tax authorities. The bank had previously said the number of clients affected by this data theft was less than 10. An increase in complaints...
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Stock Market News for March 11, 2010 - Market News
Thursday, March 11, 2010 - 10:13am | 458Renowned banking analyst Dick Bove's positive comments on Citigroup and strength in technology shares helped lift stocks Wednesday even as buying remained subdued in the absence of market-moving catalysts. The Dow Jones industrial average advanced 3 points, or about 0.03%, to close at 10,567. ...
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Jim Cramer’s 10 Reasons Financials Will Rally (C, JPM, HBAN, WFC, ZION, CMA, USB)
Thursday, March 11, 2010 - 8:32am | 336Although the financial sector has been underperforming for the past few months, Cramer believes that financials may rally just like last year. The reasons that make Cramer feel so strongly about financials are: 1. Financial institutions are not suffering from huge credit losses and JP Morgan (NYSE...
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Regional Bank Stocks Rally (BCS, CMA, FITB, STI)
Wednesday, March 10, 2010 - 7:56pm | 139Regional bank stocks surged in trading on Wednesday as speculations about possible M&As in the industry grew. The Wall Street Journal had reported on Tuesday that U.K. based Barclays PLC (ADR) (NYSE: BCS) was looking to buy a retail bank in the U.S. as it plans to build operations in the...
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Market Roundup (PSYS, MHP, MCO, KCI, C, ZION, RF, HBAN, BCS)
Wednesday, March 10, 2010 - 3:29pm | 309Psychiatric Solutions (NASDAQ: PSYS) is said to be in talks to be acquired by Bain Capital, with the mental health facilities operator seeking a 25% premium. Although the talks are in an advanced stage, they could still fall apart. If all goes well, the deal is likely within a week. Connecticut has...
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Benzinga’s Top Downgrades (DKS, XL, AVAV, PSS, BCS)
Wednesday, March 10, 2010 - 2:34pm | 260Dick's Sporting Goods Inc (NYSE: DKS) was downgraded by Sterne Agee from “buy” to “neutral.” DKS’ stock had gained 1.02% to $25.71 by 12:19 a.m. DKS has a 52-week trading range of $10.26 - $26.28. Read more about this company here. Janney Mntgmy Scott downgraded XL Capital Ltd (NYSE: XL) from “buy...
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U.S. Regional Banks Update (FHN, KEY, FITB, STI, CMA)
Wednesday, March 10, 2010 - 12:32pm | 167Analysts Matthew H. Burnell and Herman Chan at Wells Fargo Securities have released an update on the U.S. regional banks. Following Comerica Incorporated’s (NYSE: CMA) equity issuance, which is a signal to exit TARP, analysts at Wells Fargo have re-analyzed the regional banks in their coverage to...
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Barclays (BCS) Looking To Buy A Retail Bank In The U.S.
Wednesday, March 10, 2010 - 10:29am | 131U.K. based Barclays PLC (ADR) (NYSE: BCS) is looking to buy a retail bank in the U.S. as the bank to seeks to build up operations in the country. Barclays’ investment banking arm Barclays Capital, which acquired the operations of Lehman Brothers in North America, already has sizable operations in...
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Comerica Incorporated´s (CMA) Estimates Raised
Tuesday, March 9, 2010 - 4:35pm | 124Analysts at Stifel Nicolaus have released an update on Comerica Incorporated (NYSE: CMA). The company announced after market close on Monday that it will raise $800 million in common stock presumably to repay the TARP money. However, management has not given any information on whether it has...
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Market Roundup (AAPL, CSCO, VZ, T, S, WRC, PVH, BCS)
Tuesday, March 9, 2010 - 3:11pm | 305In a behind-the-scenes look at efforts initiated by Apple (NASDAQ: AAPL) to block handset makers from infringing on its patents, Oppenheimer's Yair Reiner said that the company’s lawsuit against HTC is one of several warning shots that is meant for would-be iPhone killers. Cisco (NASDAQ: CSCO) has...
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Royal Bank Of Canada (RY) Keen To Buy U.S. Banks
Tuesday, March 9, 2010 - 2:54pm | 103The Royal Bank of Canada (USA) (NYSE: RY) is looking to acquire banks in the U.S with $10 billion, or more in assets as it looks to grow in the U.S market. However, Canada’s largest bank is in no hurry to pursue takeovers until the regulatory environment is cleared. The Toronto-based bank refused...
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DOW Divests Styron Business - Analyst Blog
Tuesday, March 9, 2010 - 2:49pm | 570Dow Chemical Company (DOW) has recently announced the divestiture of the Styron business to a private equity firm, Bain Capital, for a total of $1.63 billion. As a part of the sale agreement, Dow Chemical has an option to purchase 15% of the equity of Styron. The transaction, which is expected to...
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Comerica Inc.(CMA) All Set To Test Lower Levels
Tuesday, March 9, 2010 - 2:07pm | 130Comerica Inc. (NYSE: CMA) fell 1.7 percent to $35.66, after BMO Capital Markets cut its rating on the shares to “market perform” from “outperform.” The regional bank Comerica Inc. (CMA) said it started a public offering of about $800 million of its common stock. Comerica Inc. (CMA) also said it...
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CMA To Raise Capital To Redeem TARP
Tuesday, March 9, 2010 - 9:43am | 71Analysts at BMO Capital Markets downgrade Comerica (NYSE: CMA) from "outperform" to "market perform." The target price for CMA is set to $35. According to BMO Capital Markets, the downgrade in the rating follows Comerica's decision to raise capital worth $800 million in order to redeem TARP. CMA’s...