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Good Profits From Wells Fargo And Morgan Stanley Support Rise In The Market (WFC, MS, INDU, SPX, COMP)
Wednesday, October 21, 2009 - 12:30pm | 107As Wells Fargo (NYSE: WFC) and Morgan Stanley (NYSE: MS) start showing signs that the administration’s Economic Stimulus Plan is working as the market is showing signs of recovery. Market Indices gained as they were backed by better than expected earnings from banks. The Dow Jones industrial...
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Financial stocks in Focus (MS, WFC, USB, SLM)
Wednesday, October 21, 2009 - 10:18am | 219Morgan Stanley (NYSE: MS) rallied 5.84% to $34.42 after it reported income for the third quarter ended September 30, 2009 of $757 million, or $0.38 per diluted share, compared with a loss of $159 million, or $1.37 per diluted share for the second quarter. Investment banking helped beat street...
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Wells Fargo (WFC) Tops Q3 Street View; Wachovia Merger Exceeding Expectations
Wednesday, October 21, 2009 - 8:02am | 63Wells Fargo (NYSE: WFC) reports Q3 EPS of 56c versus Street view of 36c. WFC reports Q3 revenue of $22.47 billion versus Street view of $21.63 billion. Wells Fargo says level of non-performing losses is expected to stay elevated for some period of time. WFC says Wachovia merger exceeding all...
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FBR Capital Initiates Barclays (BCS) At Outperform
Wednesday, October 21, 2009 - 7:04am | 15FBR Capital initiates Barclays (NYSE: BCS) with an Outperform rating.
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Why Bank Of England Wants Banks' Business Split
Wednesday, October 21, 2009 - 5:03am | 152Bank of England (The Central Bank Of The Uk) Governor Mervyn Allister King who is also the head of Monetary Policy Committee, says that, we need to rethink how our financial institutions should be "structured and regulated" in order to prevent the emergence of another economic crisis in future....
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Today’s Earnings Preview (BA, MS, WFC, EBAY, LLY, MO)
Wednesday, October 21, 2009 - 4:31am | 168The Boeing Company (NYSE: BA) is expected to report a loss of $2.12 a share in the third quarter, according to analysts surveyed by Thomson Reuters. Morgan Stanley (NYSE: MS) is expected to report third-quarter earnings of 29 cents a share, according to analysts surveyed by Thomson Reuters. Wells...
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Galleon Funds Get Hit By Massive Redemptions After Founder’s Arrest (IBM, JAVA, GOOG, AMD, BAC, BCS,ANAD, EBAY, AAPL)
Tuesday, October 20, 2009 - 12:39am | 220According to the Wallstreet Journal, Galleon Group, has been experiencing an increased amount of redemption requests after the arrest of their co-founder, Raj Rajarantam for allegedly getting insider information on several companies including IBM (NYSE: IBM), Sun Microsystems (NASDAQ: JAVA), Google...
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5 NASDAQ Stocks with Lowest P/B ratio and high growth estimates (IBCA, YAVY, IBCP)
Monday, October 19, 2009 - 10:20am | 186Below are interesting stocks on the NASDAQ with the lowest P/B ratio. Intervest Bancshares Corp (NASDAQ: IBCA) has a price to book ratio of 0.142. The sales growth estimate for this quarter is 44.6%. IBCA shares have declined by 48.41% over the past 52 weeks. Yadkin Valley Financial Corp (NASDAQ...
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Royal Bank of Canada (RBC) Sets Aside C$ 1 Billion for Buy-backs
Monday, October 19, 2009 - 7:57am | 129With the economy showing positive signs of recovery, Royal Bank of Canada (NYSE: RY) is expected to spend over $965 million on share buy-backs. This is mainly due to their preemptive efforts to protect themselves from loan losses due to the recession by preferred-share issues and purchasing of new...
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Sunstone Hotel (SHO) Files To Sell 14M Shares of Stock
Thursday, October 15, 2009 - 4:03pm | 43Sunstone Hotel (NYSE: SHO) files to sell 14 million shares of stock. The underwriters on the Sunstone Hotel offering are BofA/Merrill (NYSE: BA) and Wells Fargo (NYSE: WFC).
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Even Alan Greenspan Thinks the Banks Have Become Too Large
Thursday, October 15, 2009 - 12:57pm | 1483You know we've reached code red "Outrageous" when even "hands off" Alan Greenspan believes the top banks have become too large. As many sensible people have said, anything that is "too big to fail" is TOO big period. At least if you are trying to back up your national dogma and run a "capitalist...
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HDFC Bank's (HDB) Earnings Propel Upward 30%
Thursday, October 15, 2009 - 10:38am | 1055While everyone obsesses with the US oligarchs and their money printing presses courtesy of the Federal Reserve reducing their cost of capital to nearly nil, HDFC Bank (HDB) reported overnight in India. Yet another impressive quarter although as I said this weekend, it's been difficult for me to...
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U.S. Bancorp (USB) Announces Acquisition of Banking Operations from BB&T Corporation (BBT)
Wednesday, October 14, 2009 - 2:27am | 57U.S. Bancorp (NYSE: USB) and BB&T Corporation (NYSE: BBT) announced the signing of a definitive agreement for U.S. Bank National Association, U.S. Bancorp’s lead bank, to purchase approximately $800M in deposits and certain branch locations of BB&T’s Nevada banking operations.
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Cramer Says Buy VZ, AEM, BP and Sell RBS, AEP
Monday, October 12, 2009 - 6:03am | 166CNBC’s Mad Money Jim Cramer is bullish on Verizon Communications Inc. (NYSE: VZ) sating that he likes its 6.5% dividend yield. Agnico-Eagle Mines Limited (USA) (NYSE: AEM) is a buy call by Cramer. Shares of AEM have already risen over 240% from its 52-week lows of $20.87. BP plc (ADR) (NYSE: BP) is...
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Bookkeeping: Weekly Changes to Fund Positions Year 3, Week 10
Monday, October 12, 2009 - 12:53am | 2824Year 3, Week 10 Major Position Changes To see historic weekly fund changes click here OR the label at the bottom of this entry entitled 'fund positions'. Cash: 72.4% (v 73.8% last week)26 long bias: 22.2% (v 21.1% last week) [includes 1 call option position]5 short bias: 5.4% (v 5.1% last week) 31...