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John Paulson Ups Stake In SunTrust While Warren Buffet Sells (STI, BRK.A, BAC, WFC, RF)
Wednesday, February 17, 2010 - 7:41pm | 157John Paulson, who bet against the US mortgage markets during the bubble, and made a fortune in the process increased his stake in SunTrust Banks, Inc. (NYSE: STI) to 6.1% through his hedge fund Paulson & Co., thus becoming the troubled bank’s biggest stakeholder. Warren Buffet’s Berkshire...
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More Banks Possibly Linked To Tax Evasion (HBC) (UBS) (CS)
Wednesday, February 17, 2010 - 1:00am | 202According to the New York Times, HSBC Holdings Plc (NYSE: HBC) may be the latest banking giant accused of helping U.S. investors avoid paying taxes. The New York Times reported that investor Andrew Silva inherited $250,000 from his mother and deposited the money in a Swiss bank account in 1997 in...
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HSBC Is Said To Be Involved In Tax Evasion Inquiry (HBC, CS, UBS)
Tuesday, February 16, 2010 - 9:42pm | 127Investor Andrew Silva has pleaded guilty to the charges of non-disclosure of $250,00 held at a bank under a fictitious name. Although the bank has not been named in the documents, however, according to the rumors the bank in question is HSBC (NYSE: HBC). HSBC (HBC) Bank has declined to comment. In...
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Rigel Pharmaceuticals, Inc. (RIGL) Maintains An 1-Overweight Rating
Tuesday, February 16, 2010 - 2:22pm | 110Analysts Jim Birchenough, and Ryan Martins at Barclays Capital (ADR) (NYSE: BCS) have maintained a 1-Overweight rating for Rigel Pharmaceuticals, Inc. (NASDAQ: RIGL) on the back of a better-than-expected deal with AstraZeneca plc (ADR) (NYSE: AZN). According to analysts, the deal is one of the...
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Earnings Roundup (ANF, BCS, TEVA)
Tuesday, February 16, 2010 - 1:39pm | 253Abercrombie & Fitch Co (NYSE: ANF) said its fourth-quarter earnings came at $48 million, or $0.53 a share, up from $68 million, or $0.78, in the same period a year ago. ANF’s adjusted earnings per share stood at $0.91 versus $1.06 in the same period a year ago. The company’s sales, however,...
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Is RBS Sempra’s Deal With JP Morgan Nearing Closure? (JPM, RBS, SRE)
Tuesday, February 16, 2010 - 10:40am | 128Royal Bank of Scotland (ADR) (NYSE: RBS), and Sempra Energy (NYSE: SRE) are in talks with JPMorgan Chase & Co. (NYSE: JPM) for a deal to sell the non-US assets of the commodities joint venture RBS Sempra. The deal was expected to be closed for around $1.7 billion, as early as Tuesday. RBS has...
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US Stock-Index Futures Rise On Higher Commodity Prices, Better Earnings Results
Tuesday, February 16, 2010 - 9:58am | 218US stock-index futures advanced today, indicating that the Standard & Poor’s 500 Index may continue its upward trend as commodity prices pushed raw-material stocks higher. The index had seen its first rally in five weeks last week. Newmont Mining Corp (NYSE: NEM) and Alcoa Inc (NYSE: AA)...
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Profit Doubles At Barclays; Share Price Soars (BCS, BLK)
Tuesday, February 16, 2010 - 9:04am | 183Barclays Plc (ADR) (NYSE: BCS) has reported higher-than-expected profits. The sale of a fund management unit, and investment banking performance are believed to be responsible for this increase in profits. The net income of the bank, which is the second largest in UK, increased to 7.5 billion...
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Royal Bank of Scotland To Sell Colombian Operations (RBS, BNS)
Monday, February 15, 2010 - 11:36pm | 132According to Reuters, Royal Bank of Scotland (NYSE: RBS) is planning to sell off its Colombian operations. The bank is trying to refocus on its core businesses. According to an RBS (RBS) spokesperson, the bank is in talks with a potential buyer. However, RBS refused to name the buyer. Bank of Nova...
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JP Morgan (JPM) Moves Closer To Buying RBS Sempra
Monday, February 15, 2010 - 6:41pm | 158JP Morgan (NYSE: JPM) has moved closer to buying RBS Sempra’s non-US units for $1.7 billion, according to a Bloomberg report. RBS Sempra is a joint venture between Royal Bank of Scotland (ADR) (NYSE: RBS), and Sempra Energy (NYSE: SRE). The acquisition will help JP Morgan in building its energy,...
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Freddie And Fannie See Spreads Narrow To Their Lowest In 17 Years (FNM, FRE, RBS)
Friday, February 12, 2010 - 8:39am | 207Freddie Mac (NYSE: FRE), and Fannie Mae (NYSE: FNM) mortgage bonds have seen relative yields fall to their lowest levels in 17 years, as traders speculate that the cash used by the companies to buy loans that are delinquent will be recycled back into securities. The spread between Fannie Mae’s 30-...
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Top 6 Stocks You Need To Know For February 12, 2010 (IR, FE, AYE, ELON, C)
Friday, February 12, 2010 - 8:28am | 189Ingersoll-Rand Company (NYSE: IR) is scheduled to report its results for the latest quarter prior to the market open. Analysts expect IR to earn $0.53 per share. IR’s shares rose 1.77% to close at $33.98 yesterday. Power company First Energy (NYSE: FE) has placed a $4.7 billion takeover bid to...
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Brian Kelly Likes NBG And EWP
Thursday, February 11, 2010 - 6:57pm | 155Brian Kelly of Kanundrum Research said on CNBC's Fast Money that European Union's bailout of Greece is similar to US TARP. He believes that government won't allow big banks to fail and wants to profit on that by buying National Bank of Greece (ADR) (NYSE: NBG) and iShares MSCI Spain Index (ETF) (...
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Apollo Investment Corp. (AINV) Shares Rise 5% After Analyst Upgrade
Wednesday, February 10, 2010 - 3:05pm | 108Shares of Apollo Investment Corporation (Nasdaq: AINV) are up nearly 5% today after Wells Fargo (NYSE: WFC) upgraded them from Market Perform to Outperform. Wells Fargo said that "our more favorable outlook is based on our view that AINV remains well positioned to capitalize on a growing set of...
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Macquarie (MQBKY) Slips On Poor Outlook
Tuesday, February 9, 2010 - 10:20am | 132Macquarie Group’s (OTC: MQBKY) shares slipped 7% on a weak outlook, and concerns over the performance of its equity capital markets business. Macquarie, which is known for high pay packets, forecast that its second half profits could be in line with popular consensus of $926 million for the year...