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Stansberry's "Next Boom" Portfolio And "Victims" List For 7/21
Thursday, July 21, 2011 - 7:07am | 82In its latest letter, Stansberry's Investment Advisory adds Cheniere Energy (NYSE: LNG) and Dominion Resources (NYSE: D) to its "Next Boom" portfolio list at a Buy rating. It also adds Royal Bank of Scotland (NYSE: RBS) and Deutsche Bank (NYSE: DB) to its "Victims" list at a Sell Short rating.
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Stocks Took a Breather 07-20-2011
Wednesday, July 20, 2011 - 7:37pm | 992Cusick's Corner Stocks took a breather, a little profit taking after yesterday's rally. Financials led the day on news from E-Trade (ETFC) and US Bancorp (USB). The Financial Select Sector ETF (XLF) was up +1.14% to close at 15 and the option volume was almost 80% higher than the average daily...
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Comerica Announces Resignation of Paul E. Burdiss, Treasurer
Wednesday, July 20, 2011 - 4:05pm | 61Comerica Incorporated (NYSE: CMA) today announced the resignation of Paul E. Burdiss, executive vice president and Treasurer, effective immediately. Michael H. Michalak, executive vice president, Corporate Planning, Development and Risk Management, has been named Interim Treasurer and in this role...
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UPDATE: Wells Fargo Settles Allegations with Federal Reserve Regarding Former Business Unit
Wednesday, July 20, 2011 - 4:04pm | 206Wells Fargo & Company (NYSE: WFC) announced today an agreement with the Board of Governors of the Federal Reserve that resolves allegations arising from an investigation into internal controls at its former Wells Fargo Financial unit. The Federal Reserve alleged that Wells Fargo Financial did...
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Chop & Pop 07-20-2011
Wednesday, July 20, 2011 - 2:38pm | 1108Cusick's Corner This market pops on bad news, chop and then pop in spite of negative sentiment for fear of missing the next leg up. This is the grinding, choppy segment after the poor data and continued debt fears here and across the Pond. So what to do? Well volatility has pulled back this week...
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Bank Stocks Jump Higher On Valuation
Wednesday, July 20, 2011 - 1:11pm | 220The bank stocks are surging today on the back of cheap valuations. Since the beginning of 2011, most financial stocks are down dramatically, continually hitting new 52 week lows. This past week, earnings have come from all the major players. Solid earnings were reported by JPMorgan Chase & Co...
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KBW Reiterates Market Perform and PT of $39 on Comerica
Wednesday, July 20, 2011 - 9:14am | 42KBW reiterated its Market Perform rating on Comerica (NYSE: CMA). At the same time, the rating agency left its price target on the company's stock unchanged at $39. On Tuesday, CMA closed the day at $32.48.
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KBW Reiterates Outperform and PT of $33 on Wells Fargo
Wednesday, July 20, 2011 - 8:52am | 55KBW reiterated its Outperform rating on Wells Fargo (NYSE: WFC). At the same time, the rating agency left its price target on the company's stock unchanged at $33. On Tuesday, WFC closed the day at $28.41. Its shares added 0.56% to their value in today's pre-market trading to stand around $28.57.
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Morgan Keegan Maintains Market Perform On CMA
Wednesday, July 20, 2011 - 8:39am | 82Morgan Keegan has issued a report reiterating the Market Perform Rating on Comerica Incorporated (NYSE: CMA). According to the report, "CMA reported $0.55 in 2Q11 EPS (ex $0.02 in merger expenses), versus our $0.47 and consensus $0.53 estimates. Beat was driven by better expense control (+$0.08),...
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UPDATE: U.S. Bancorp Reports 57% Surge In Q2 Profit
Wednesday, July 20, 2011 - 8:33am | 65U.S. Bancorp (NYSE: USB) reported a 57% rise in its second-quarter profit. U.S. Bancorp reported its quarterly profit at $1.2 billion, or $0.60 per share, up from $766 million, or $0.45 per share, in the year-ago period. Its net revenue rose 3.8% to $4.69 billion. Analysts were expecting a profit...
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Evercore Partners Reiterates Overweight on WFC
Wednesday, July 20, 2011 - 8:29am | 79Evercore Partners Reiterates overweight Rating on Wells Fargo & Company (NYSE: WFC). According to the report, "At 1.7x TBV, WFC trades at a premium to largecap peers (1.2x TBV), reflecting the strength and higher quality of its franchise. We expect WFC to retain its premium valuation as it...
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JP Morgan Reiterates Overweight and PT of $43 on Wells Fargo
Wednesday, July 20, 2011 - 7:15am | 61JP Morgan reiterated its Overweight rating on Wells Fargo (NYSE: WFC). At the same time, the rating agency left its price target on the company's stock unchanged at $43. On Tuesday, WFC added 5.69% to its value to finish the day at $28.41. Its shares continued to climb in today's pre-market trading...
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Comerica Hits New 52-Week Low at $31.92
Tuesday, July 19, 2011 - 12:48pm | 75Many traders and investors see the 52-week high or low as an important indicator. Stocks that have a long-term trend in a certain direction are likely to continue, as that trend is the path of least resistance. In this case, shares of Comerica (NYSE: CMA) are hitting new 52-week low. Traders and...
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Trade Alert: Markets Rally As Fear Fades
Tuesday, July 19, 2011 - 12:14pm | 206The markets are in rally mode as fear is fading around the globe. Earnings are giving investors a fresh reason to buy the markets and the Dollar is dropping. Yesterday, International Business Machines Corp. (NYSE: IBM) reported solid quarterly results. This morning, more great reports emerged from...
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Some Financial Stocks See Sunlight
Tuesday, July 19, 2011 - 11:02am | 245This morning, some of the leading financial stocks have caught bids higher and some are still looking like fish out of water. Goldman Sachs Group Inc.(NYSE: GS), and Bank of America Corp.(NYSE: BAC) both reported earnings today before the opening bell. These two financial giants have been very weak...