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Goldman Sachs Leads The Financial Stocks Lower
Tuesday, June 7, 2011 - 10:51am | 194Goldman Sachs Group Inc.(NYSE: GS) has been one of the weakest stocks in the stock market as of late. The stock topped out in mid-January 2011 at $175.43 a share and has been steadily declining. The stock is trading below its daily chart 20, 50, and 200 moving averages which put the stock in a...
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The Greek Tragedy: The Headlines Just Keep On Coming
Tuesday, June 7, 2011 - 8:31am | 397Not hours after the IMF said that it would be open to delaying payments from Greece, Moody's is out with some comments on the situation and said that a Greek debt roll-over would be considered a default. The sovereign head of Moody's said that a Greek debt roll-over would be a credit event, and...
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Stocks Pare Losses but Remain Pressured
Monday, June 6, 2011 - 2:13pm | 121(TheStreet) -- Stocks were holding mild losses Monday, weighed down by financial and energy stocks, as investors continue to question the strength of the global economic recovery. The Dow Jones Industrial Average was down by 13 points, or 0.1%, at 12,138. The S&P 500 was lower by 5 points, or...
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Wells Fargo & Company Bouncing Back From Dick Bove Cut
Monday, June 6, 2011 - 12:50pm | 70Wells Fargo & Company (NYSE: WFC) shares are well off session lows, down just 1% after Dick Bove of Rochdale Securities downgraded the stock to Sell. Bove cut the rating to Sell and cut the price target to $22, citing rising unemployment, ongoing weakness in the housing market and slowdown in...
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Credicorp Shares Plunged 14% Lower after Analyst Downgrade
Monday, June 6, 2011 - 10:03am | 42Credicorp Ltd (NYSE: BAP) shares moved down 14.68% to $86.75 at 9:55 am. Analysts at Raymond James downgraded BAP from “outperform” to “underperform.” Read more here.
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Morning Market Losers
Monday, June 6, 2011 - 9:56am | 119Credicorp Ltd (NYSE: BAP) shares moved down 14.68% to $86.75 at 9:55 am. Analysts at Raymond James downgraded BAP from “outperform” to “underperform.” YM BioSciences Inc (AMEX: YMI) dipped 11.44% to $3.25. YM BioSciences announced positive interim safety and efficacy results from the Phase I/II...
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J.P. Morgan Maintains Overweight on U.S. Bancorp
Monday, June 6, 2011 - 7:21am | 129J.P. Morgan is out with its report today on U.S. Bancorp (NYSE: USB), maintaining Overweight. In a note to clients, J.P. Morgan writes, "We continue to rate U.S. Bancorp shares Overweight relative to the large cap peer group of bank stocks due to our expectations for lower impact from the...
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The Big Picture for the Week of June 5, 2011
Saturday, June 4, 2011 - 8:06am | 477The jobs report printed yesterday and it stunk in every direction. There is a lot to digest right now in terms of whether there is an honest recovery or not, all aspects of QE are being second guessed and dissected, the housing market has legitimately double dipped, at the very least there is...
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Benzinga's Top ETF Decliners, June 2nd (TMF, AGA, EDZ, AGQ)
Thursday, June 2, 2011 - 7:18pm | 175Direxion Daily 30-Year Treasury Bull 3X Shares (NYSE: TMF) lost 5.70% on Thursday, and it closed at $37.47. TMF broke its two day winning streak today. PowerShares DB Agriculture Double Short ETN (NYSE: AGA) fell 4.36% today as wheat futures, corn futures and sugar futures traded lower. AGA...
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Market is Damaged -- Levels to Watch 06-02-2011
Thursday, June 2, 2011 - 6:32pm | 911Cusick's Corner No surprise that the market finished at breakeven. The data tomorrow, Unemployment, will be scrutinized and a lot of investors will then find out how much of that selling from the previous session was in front of what could be a bad number. The reality is that this market is...
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Puts Purchased on Bank of Ireland
Thursday, June 2, 2011 - 11:23am | 131Shares of Bank of Ireland (NYSE: IRE) are higher on the session by 1.89%, currently trading at $1.62. The stock has been moving largely lower over the past six months and is currently trading below the 50-day and 200-day moving averages. Options traders are buying puts on the name today. A short...
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Banks Stocks Remain Weak
Thursday, June 2, 2011 - 10:15am | 210As we all know, the major stock indexes plummeted yesterday. The financial stocks lead the decline as every major bank and financial institution came under heavy selling pressure. This morning, the major financial stocks are once again coming under early selling pressure. It is important to note...
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Financials Dropping On Goldman Sachs Subpoena, Moody's Watch
Thursday, June 2, 2011 - 9:55am | 124Just what the market needed was more bad news. Goldman Sachs (NYSE: GS) shares are dropping on news that a Manhattan Prosecutor is subpoenaing the company. In addition to this bad news, Moody's has put the debt of Citigroup, Bank of America and Wells Fargo (NYSE: WFC) on credit watch. As a...
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Bank of America Reiterates Buy Rating on Comerica
Thursday, June 2, 2011 - 9:25am | 143Bank of America is reiterating its Buy rating on shares of Comerica (NYSE: CMA). “Following mgmt meetings, we reiterate our Buy rating on CMA. Our discussion confirmed our view that: 1) not only is CMA the most highly tethered regional bank to a broad economic recovery, but company-specific...
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Benzinga's Top ETF Decliners, June 1st (AGQ, FAS, TNA, SOXL, DRN)
Wednesday, June 1, 2011 - 7:06pm | 254ProShares Ultra Silver (ETF) (NYSE: AGQ) led the decliners among the ETFs on Wednesday, with a loss of 9.69%. AGQ closed at $187.12, and it had a volume of 3.01M traded shares. Direxion Daily Financial Bull 3X Shares(ETF) (NYSE: FAS) dropped 9.53% today as Bank of America Corporation (NYSE: BAC)...