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Nike (NKE) Reaps Currency Benefit With Higher Sales
Friday, December 18, 2009 - 4:49pm | 124Nike (NYSE: NKE) has reported an EPS of $0.76, which is $0.12 higher than Barclays’ (NYSE: BCS) estimate. Revenue has declined by just 4% compared to the estimate of a 5.3% decline. Western Europe showed an improved sales trend, as well as a 2% currency benefit. In-line product margins have...
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Lower 4Q Estimates For J. Crew (JCG)
Friday, December 18, 2009 - 4:43pm | 121Barclays Capital (NYSE: BCS) has lowered its 4Q estimates for apparel company J. Crew (NYSE: JCG) as there is less room for upside in 4Q09. The estimate has been lowered to $0.40 compared to a consensus of $0.48. Analyst Jeff Black is not very optimistic about J. Crew’s gross margin performance....
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FDIC Chief Fights To Save Its Might
Friday, December 18, 2009 - 2:08pm | 146The FDIC was set up in 1993 to rescue the banking system, and its deposit guarantees saved the industry in the present crisis. The Senate Banking Committee under Senator Christopher Dodd has proposed to revoke all the supervisory powers of FDIC. If the committee succeeds, FDIC would end up...
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Did Citi (C) Exit The Fed Bailout Program Too Soon?
Friday, December 18, 2009 - 1:11pm | 199The last several days have seen financial bellwethers Citi (NYSE: C), JPMorgan (NYSE: JPM) and Wells Fargo (NYSE: WFC) exit the Federal bailout program. However, the struggle that Citi faced while offloading shares in the market seems to have raised questions on whether the venerable banking giant...
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Guy Adami Wants To Go Long On BAC And Short WFC
Thursday, December 17, 2009 - 8:57pm | 70CNBC's Fast Money Guy Adami thinks that it would be good to buy Bank of America (NYSE: BAC) now that it trades below $15, and short Wells Fargo (NYSE: WFC) against it as it currently trades above $20. Bank of America (BAC) fell 2.75% to $14.86, and Wells Fargo (WFC) added 0.89% and closed at $26.07.
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Citi (C) Gets Banged On The Bourses, Govt To Delay Stake Sale (WFC, JPM)
Thursday, December 17, 2009 - 1:33pm | 184Citigroup Inc (NYSE: C)(FREE stock trend analysis), looking to follow in the footsteps of peers like Wells Fargo (NYSE: WFC)(FREE stock trend analysis) and JPMorgan (NYSE: JPM)(FREE stock trend analysis) by exiting a taxpayer bail-out handed over last year, raised $17 billion in the markets....
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Bookkeeping: Taking Some Long Exposure Off the Table
Thursday, December 17, 2009 - 11:16am | 681Go King Dollar! I am taking some long exposure down as some stocks break support, and others I want to lock in profits. We are simply unable to break out of this range on the S&P 500.... HDFC Bank (HDB) I have been adding in small increments of late, but today it has broken support - this...
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Company News for December 17, 2009 - Corporate Summary
Thursday, December 17, 2009 - 10:00am | 366• UBS (NYSE:UBS) began coverage of Bank of America (NYSE:BAC) with a "buy" rating after the company named Brian Moynihan as its new CEO • General Mills (NYSE:GIS) posted fiscal second quarter earnings of $1.54 a share, versus Zacks estimates of $1.45 a share on sales of $4.08 billion. Citing first...
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$1.5 Billion Gain Expected From Minority Stake Sale In Wachovia Securities, (PRU, TSV, WFC)
Thursday, December 17, 2009 - 7:56am | 102Prudential Financial Inc. (NYSE: PRU) is expected to make an after-tax gain of $1.5 billion from the sale of its minority stake in Wachovia Securities (AMEX: TSV) to Wells Fargo & Company (NYSE: WFC). Wells Fargo & Company said earlier this week that it would pay about $4.5 billion in cash...
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Prudential (PRU) Surges On Expected Gains From Divesture In JV
Wednesday, December 16, 2009 - 3:25pm | 69The shares of Prudential Financial, Inc. (NYSE: PRU) increased 5.11% to $51.16, after it announced that it expects a $1.5 billion after-tax gain on selling its minority stake of a brokerage joint venture with Wells Fargo & Company (NYSE: WFC). The gain will be reflected in net income, but not...
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Wells Fargo (WFC) Raises $12.25 Billion On Expanded Share Offering
Wednesday, December 16, 2009 - 2:27pm | 138Wells Fargo & Co. (NYSE: WFC)(FREE stock trend analysis) has raised about $12.25 billion in a stock offering to repay a $25 billion bail-out received from the U.S. government last year. Wells Fargo sold 489.9 million shares at $25 each, about 2% below its closing share price on the previous...
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Prudential To Sell Stake In Retail Brokerage Unit To Wells Fargo (WFC, PRU)
Wednesday, December 16, 2009 - 10:41am | 137After announcing the repayment of $25 billion in government bail-out money, Wells Fargo & Co. (NYSE: WFC)(FREE stock trend analysis) said it would buy out Prudential Financial Inc.'s (NYSE: PRU)(FREE stock trend analysis) stake for a $4.5 billion in cash in its retail brokerage joint venture....
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Stocks to Watch (CF, BRCM, ING, LYG, FGXI)
Wednesday, December 16, 2009 - 9:44am | 357CF Industries Holdings, Inc. (NYSE: CF)(FREE stock trend analysis) on Tuesday said it will not seek to extend its financing commitments for its proposed acquisition of Terra Industries Inc. (NYSE: TRA)(FREE stock trend analysis) and made no assurance that it will take more action to buy the...
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Top 5 Large-Cap Stocks with Highest Cash Per Share (BRK-A, GS, BCS, CS, MS)
Wednesday, December 16, 2009 - 8:48am | 160Below are the top 5 large-cap stocks on the NYSE and the NASDAQ in terms of the highest cash per share. Berkshire Hathaway Inc (NYSE: BRK-A) has cash per share of $17,350. BRK-A’s market capitalization is $154.32 billion. Credit Suisse upgraded CM from “underperform” to “neutral.” Goldman Sachs...
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Barclays Retained Its Rating For Wells Fargo (WFC)
Tuesday, December 15, 2009 - 4:11pm | 86Barclays retained its Overweight rating and price target of $34 for Wells Fargo & Company (NYSE: WFC)(FREE stock trend analysis). Wells Fargo has announced that it will redeem its $25 billion of TARP and will pay cash to purchase the stake of Prudential Financial (NYSE: PRU)(FREE stock trend...