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Barclays' President Hits Out At Failed Banks (BCS)
Wednesday, January 27, 2010 - 9:00am | 154The Wall Street Journal reports that Robert Diamond, President of Barclays Plc (NYSE: BCS) has spoken out against banks that fell during the financial downturn, while speaking at Davos in the World Economic Forum. Diamond mentioned that the failures and gaps in management of these banks had raised...
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Analyst Upgrades Rosetta Resources, Shares Jump 5%
Monday, January 25, 2010 - 7:58pm | 137Shares of Rosetta Resources, Inc. (Nasdaq: ROSE) surged more than 5% today as Wells Fargo & Company (NYSE: WFC) upgraded the stock from Market Perform to Outperform. Rosetta Resources is an independent oil and gas company engaged in the acquisition, exploration, development and production of...
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HSBC (HBC) To Invest In Electric Car Project
Monday, January 25, 2010 - 2:15pm | 122HSBC Holdings (ADR) (HBC) is all set to lead an international team of investors in Project Better Place, according to a report by the Wall Street Journal. Project Better Place is an electric car venture founded by software entrepreneur Shai Aggasi. The project, which intends to build a network of...
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Government Exit From Mortgage Market: A Risky Proposition
Monday, January 25, 2010 - 2:05pm | 370The U.S Government stepped in at the start of the economic crisis to drive down mortgage rates and do whatever it took to keep the economy afloat. Now, federal support for mortgage rates is set to end in two months, and it is still unclear whether the market will be able to stand on its own after...
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T. Rowe Price Enters India - Analyst Blog
Monday, January 25, 2010 - 1:17pm | 483On Jan 20, T. Rowe Price Group Inc. (TROW) announced the purchase of the 26% share of the Unit Trust of India Asset Management Company Ltd. (UTI AMC) and UTI Trustee Company Pvt. Ltd., for INR 6.5 billion or US$142.4 million. The deal was being mulled over by the management since Nov, 2009. The...
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Barclays (BCS) To Defer Bonuses Up To 3 Years
Monday, January 25, 2010 - 12:16pm | 153The Financial Times reports that Barclays (NYSE: BCS) is planning to defer paying bonuses, up to 100% for its top staff, in an attempt to smooth over controversial pay issues. Deferment could amount to anything from 50% to 100% of the bonus amount for a period of three years. Credit Suisse (NYSE:...
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Barron's Value Pick : ICICI Bank (IBN)
Monday, January 25, 2010 - 10:46am | 133According to Barron’s, India’s ICICI Bank (ADR) (NYSE: IBN) is an exciting prospect for value investors. The company is currently valued at 1.6 times forward book value, making it much cheaper than the sector average of 2.3 times forward book value. This low valuation is despite ICICI Bank’s share...
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Benzinga's Top ETF Gainers (SKF, SSG, FAZ, ZSL)
Friday, January 22, 2010 - 3:34pm | 286ProShares UltraShort Semiconductors(ETF) (NYSE: SSG) is trading on the upside today because of the weakness of the Dow Jones U.S. Semiconductors Index, whose components, among others, include Intel Corporation (NASDAQ: INTC), Texas Instruments Incorporated (NYSE: TXN) and Applied Materials, Inc. (...
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Buckingham Reaffirms Neutral Rating On Wells Fargo (WFC)
Thursday, January 21, 2010 - 1:40pm | 115Buckingham Research released a report today in which they reaffirmed their Neutral rating on Wells Fargo (NYSE: WFC). Although Wells Fargo (WFC) beat the firm's earnings expectations, they were disappointed by higher expenses. Furthermore, Buckingham says that WFC's credit trends continue to lag...
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First Horizon National Corp. (FHN) Receives Lower Estimates
Thursday, January 21, 2010 - 10:28am | 108First Horizon National Corp. (NYSE: FHN) recently announced its Q4 results, which were below market estimates. FHN reported an EPS of ($0.32) in comparison to consensus of ($0.22). Wells Fargo (NYSE: WFC) reported that it had estimated the EPS figure at ($0.25). FHN also reported the 16% QoQ drop...
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Stock Market News for January 21, 2010 - Market News
Thursday, January 21, 2010 - 10:26am | 554Disappointing earnings reports in the U.S. and concerns that a tighter lending in China would hurt the global economic recovery led to a broad sell-off on the Street Wednesday. A stronger dollar hurt commodities, sending energy and material companies lower. Investors also had their focus on an...
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Stop Selling AIB - UBS Says
Wednesday, January 20, 2010 - 1:56pm | 58UBS upgraded Allied Irish Bank (NYSE: AIB) from “sell” to “neutral.” AIB’s shares have lost 45.09% over the past three months. Allied Irish Bank’s 52-week trading range is $0.72-$10.42. AIB’s shares were up 1.83% to $4.44 in morning trade. Analyst Ratings here
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U.S Futures Slip Despite Optimism in the Economy (BAC, MS, WFC)
Wednesday, January 20, 2010 - 10:28am | 168U.S stock futures slipped ahead of a series of earnings reports from the financial sector and after the news of Chinese banks restricting their lending. Dow Jones Industrial Average futures were 38 points lower at 10632. The S&P 500 futures fell 5.3 points to 1140.4 and Nasdaq 100 futures lost...
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USB Exceeds Expectations Despite Charges
Wednesday, January 20, 2010 - 10:02am | 116US Bancorp (NYSE: USB) managed to beat the consensus expectations for 1Q on both net income and revenues. The Minneapolis-based regional bank’s net income rose to $602 million, or $0.30 a share, from $330 million, or $0.15 a share, in 1Q08. Meantime, the company’s net revenues jumped 21% to $4.4...
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US Bancorp (USB) Profit Nearly Doubles
Wednesday, January 20, 2010 - 9:54am | 161U.S. Bancorp (NYSE: USB) today announced that its fourth-quarter profit nearly doubled, helped by a rise in fee income. US Bank reported a profit of $602 million, or $0.30 per share, up from $330 million, or $0.15 per share a year earlier. Analysts on average were expecting US Bank to post profits...