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Financial Stocks Can Only Lead For So Long
Wednesday, February 9, 2011 - 11:11am | 482Since late November 2010, it has been the large major bank stocks that have taken over as the leading sector. Stocks such as J.P. Morgan Chase & Co.(NYSE: JPM), Wells Fargo & Co.(NYSE: WFC), Bank of America Corp.(NYSE: BAC), and Citigroup Inc.(NYSE: C) have soared higher by more than 20...
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Wells Fargo Down One Point After CFO Unexpectedly Retires (WFC)
Wednesday, February 9, 2011 - 8:18am | 112Wells Fargo (NYSE: WFC) is trading over a point lower today after unexpected news yesterday of the retirement of its CFO. With the drop of over 2%, Wells Fargo has lost over $3.5B in market capitalization overnight. Traders are concerned that the unexpected retirement of a well-informed financial...
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Wells Fargo Announces CFO Howard Atkins to Retire
Tuesday, February 8, 2011 - 5:49pm | 73Wells Fargo & Company (NYSE: WFC) announced today that Timothy J. Sloan, the company's current chief administrative officer and a senior executive vice president, has been named its new chief financial officer, effectively immediately. He succeeds Howard I. Atkins, who turns 60 this week and...
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Zings Of The Day (BIG, HBC, TM)
Tuesday, February 8, 2011 - 4:55pm | 137European banks like HSBC (NYSE: HBC) are slowly moving towards reporting earnings every quarter, in an effort to increase transparency. Under the transparency section in their reports it currently needs: none. Big Lots (NYSE: BIG) is attempting to sell itself, as the stock has underperformed the...
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Benzinga's Political Roundup (FXI, HBC)
Tuesday, February 8, 2011 - 12:57pm | 85China (NYSE: FXI) raised interest rates this morning by 25 basis points in an effort to curb inflation in the country. HSBC Holdings PLC (NYSE: HBC) and Lloyds Banking Group PLC, are going to start reporting performance on a quarterly basis in an effort to make the banks more transparent.
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Financial Stocks Lead Markets Again
Monday, February 7, 2011 - 4:40pm | 135One sector that has lead the stock markets higher has been the financial group or the large major banks. Stocks such as J.P. Morgan Chase & Co.(NYSE: JPM), Wells Fargo & Co.(NYSE: WFC), and Bank of America Corp.(NYSE: BAC), have been leading the markets higher since December 1, 2010. These...
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Spain's Bailing Out Ireland? (STD, AIB)
Monday, February 7, 2011 - 1:40pm | 141According to the New York Times Dealbook, Banco Santander (NYSE: STD) is offering $5.8 billion for Polish bank Bank Zachodni WBK, which is currently controlled by Allied Irish Banks (NYSE: AIB). Santander is trying to expand into Poland, and since Allied Irish is trying to raise capital, it seemed...
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10 Reasons to Be Bullish on Housing
Monday, February 7, 2011 - 1:29pm | 1061By Andrew Jeffery Almost five full years into the housing downturn, it's still cool to be bearish on real estate. But cool isn't always right: Despite headwinds such as looming shadow inventory, a lackluster job market, and geopolitical instability, there are plenty of reasons why rose-colored...
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Canaccord Ups BMO To Buy
Monday, February 7, 2011 - 8:18am | 41Analysts at Canaccord upgrade Bank of Montreal (NYSE: BMO) from “hold” to “buy.” BMO shares fell 0.03% to close at $59.65 on Friday. More Analyst Ratings here
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Barclays Upgrades CM To Overweight
Monday, February 7, 2011 - 7:55am | 44Analysts at Barclays upgrade Canadian Imperial Bank of Commerce (NYSE: CM) from “equal weight” to “overweight.” CM shares gained 0.77% to close at $78.86 on Friday. More Analyst Ratings here
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Deutsche Bank Downs STD To Hold
Friday, February 4, 2011 - 6:51am | 41Analysts at Deutsche Bank downgrade Banco Santander SA (NYSE: STD) from “buy” to “hold.” STD shares fell 1.76% to close at $12.31 yesterday. More Analyst Ratings here
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JP Morgan Downgrades WBK To Underweight
Thursday, February 3, 2011 - 6:57am | 41Analysts at JP Morgan downgrade Westpac Banking Corporation (NYSE: WBK) from “neutral” to “underweight.” WBK shares fell 1.12% to close at $115.92 yesterday. More Analyst Ratings here
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PEG Ratio vs. P/E - Screen of the Week
Tuesday, February 1, 2011 - 2:31pm | 229Kevin Matras talks about the PEG Ratio and explains how to use it for finding undervalued companies. Highlighted stocks include AVT, BTU, CSX, SOL and TD. AVNET (AVT): Free Stock Analysis Report PEABODY ENERGY (BTU): Free Stock Analysis Report CSX CORP (CSX): Free Stock Analysis Report RENESOLA LT-...
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Paul Obermeyer Named Executive VP and CIO for Comerica
Tuesday, February 1, 2011 - 11:33am | 60Comerica Bank (NYSE: CMA) has named Paul R. Obermeyer Executive Vice President and Chief Information Officer for Comerica Incorporated. Obermeyer succeeds John Beran, who retired January 31, 2011, after a 15 year-career with Comerica. Obermeyer is a member of Comerica's Management Policy...
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J.P. Morgan Raises USB Estimates
Tuesday, February 1, 2011 - 9:53am | 151J.P. Morgan is raising its EPS estimates on U.S. Bancorp (NYSE: USB) to $2.10 and $2.58 in 2011 and 2012, respectively, from $2.05 and $2.55. “Our revisions largely reflect faster recovery in deposit service charges, a little faster loan growth, lower loan loss provisions (in 2011), and continued...