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Lloyds May Cut Another 15,000 Jobs: Report
Monday, June 13, 2011 - 4:33am | 81Lloyds Banking Group PLC (NYSE: LYG) is planning to reduce 15,000 jobs as part of a new 1 billion pounds ($1.6 billion) cost-saving plan, the Sunday Telegraph reported. Lloyds last week reported that it would cut 300 jobs across its retail, wholesale and wealth units. It has cut about 27,500 jobs...
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Benzinga's Top ETF Decliners, June 10th (AGQ, DRN, CZM, EDC)
Friday, June 10, 2011 - 7:29pm | 236ProShares Ultra Silver (ETF) (NYSE: AGQ) led the decliners among the ETFs on Friday, with a 7.73% loss. AGQ closed at $180.29, and it had a volume of 2.18M traded shares. Direxion Daily Real Estate Bull 3X (ETF) (NYSE: DRN) lost 7.63% in the regular trading session, but it added 1.08% in the...
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Options Brief: National Bank of Greece S.A.
Friday, June 10, 2011 - 12:01pm | 95Shares of National Bank of Greece S.A. (NYSE: NBG) are lower on the session by 1.80%, trading at $1.365. Overall call volume is now running at 2.07x the daily average, with 32% of all calls traded being purchases on the offer. 1,251 contracts have traded on the session so far. National Bank of...
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Mad Money Lightning Round: Cramer Dislikes Tata Motors, Applied Materials
Friday, June 10, 2011 - 12:50am | 216On CNBC's Mad Money, Jim Cramer said during the Lightning Round that Whole Foods (NASDAQ: WFM) has “pulled back enough. Some companies can transcend the charts." Cramer said that he is “not a fan of Wells Fargo (NYSE: WFC).” He added, “If you want to own a bank, I'd go with PNC Financial Services...
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Options Brief: Comerica Incorporated
Thursday, June 9, 2011 - 1:19pm | 77Shares of Comerica Incorporated (NYSE: CMA) are higher on the session by 0.89%, trading at $34.10. Overall call volume is now running at 2.43x the daily average, with 67% of all calls traded being purchases on the offer. 3,122 contracts have traded on the session so far. Comerica Incorporated is...
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S&P 500 Financial Sector Update 6/9/11
Thursday, June 9, 2011 - 1:07pm | 396The Financial Sector is one of the strongest areas of the S&P 500 in today's session, currently trading up 1.3% from yesterday's close. Today's best performing stocks in that sector are: 1) Moody's (NYSE: MCO): Shares of Moody's are currently trading up 3.5% from yesterday's close to $40.80....
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Financial Stocks Lead Markets Higher
Thursday, June 9, 2011 - 11:01am | 187The major financial stocks have been one of the weakest sectors for most of 2011. Nearly every trading day since early May, which was the start of the stock market correction, the financial stocks have come under severe selling pressure. This morning, the financial stocks are actually catching a...
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New Guggenheim Funds Are Not New
Wednesday, June 8, 2011 - 2:36pm | 859Despite what you may have read, Guggenheim did not launch any new ETFs last week. You can safely ignore the headline in the Guggenheim press release. What really happened is buried deep within that press releasewhose headline is totally wrong: as of June 1, 2011, some already-existing ETFs...
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UPDATE: Morgan Stanley Lowers Price Target On Wells Fargo & Co.
Wednesday, June 8, 2011 - 7:38am | 144Morgan Stanley has an Overweight rating and a $39 price target on shares of Wells Fargo & Co. (NYSE: WFC). In a note to clients, Morgan Stanley writes, "WFC expects to retain profitability in mortgage banking despite all the changes taking place in the industry. Why? Originators have...
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Morgan Stanley Lowers PT On Wells Fargo To $39
Wednesday, June 8, 2011 - 6:06am | 27Morgan Stanley has lowered the price target on Wells Fargo (NYSE: WFC) from $40 to $39 and maintains its Overweight rating.
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Benzinga's Top ETF Decliners, June 7th (DRV, BAL, TVIX, EDZ)
Tuesday, June 7, 2011 - 6:10pm | 181Direxion Daily Real Estate Bear 3X (ETF) (NYSE: DRV) fell 3.40% on Tuesday as Equity Residential (NYSE: EQR) gained 1.61%, and Boston Properties, Inc. (NYSE: BXP) added 1.24%. iPath Dow Jones-UBS Cotton Subindex Total Return ETN (NYSE: BAL) dropped 3.37% as cotton futures struggled. BAL closed at...
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To QE-3 Or Not To QE-3, That Is The Question
Tuesday, June 7, 2011 - 3:50pm | 361Almost every investor is standing by waiting for the Federal Reserve Chairman, Ben Bernanke, to make some type of comment regarding another round of quantitative easing. In other words, will there be QE-3 if the markets keep falling. It is important to note that the key bank lending rate, which is...
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Look At Those Banks!
Tuesday, June 7, 2011 - 3:25pm | 167I am almost starting to feel sorry for the management teams at the Too Big To Fail banks. Watching your stock fall day after day after day, no matter what the market does, has got to be difficult. The market is up around 50 points during the session, but TBTF, is falling - like usual. Citigroup (...
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Five ETFs Littered With Takeover Targets
Tuesday, June 7, 2011 - 2:33pm | 630Mergers and acquisitions activity has been on the upswing for over a year now and if you're looking for an ETF with which to play this theme, there is a specific fund devoted to M&A arbitrage, but the better bet is to identify sectors ripe for consolidation and use the relevant ETFs to isolate...
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Markets Float Ahead Of Bernanke Speech
Tuesday, June 7, 2011 - 12:02pm | 258The markets are floating slightly higher today as the Dollar has fallen sharply once again. Federal Reserve Chairman Ben Bernanke is set to speak at 3:35pm ET today. Knowing this, gave Wall Street a good idea that the markets would most likely see weakness in the Dollar and an up market. The...