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What Bank Makes The Most Money?
Wednesday, September 29, 2010 - 12:23pm | 135What bank made over $70 billion dollars in profit last year alone? It's not Bank of America (BAC), JPMorgan Chase (JPM), US Bancorp (USB), or Citigroup (C). The answer is the Federal Reserve. According to a Yahoo Finance article, the Federal Reserve has nearly $50 billion in profits last year. The...
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The Tea Party Will End The Printing Party
Wednesday, September 29, 2010 - 10:41am | 720As we all know by now most Americans are sick and tired of the Democrats and the Republicans. Just look at President Obama's approval rating which is now around 46 percent. They are certainly not happy with him and the Congress approval rating is even lower. However, as bad as his approval rating...
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Barclay's Diamond: We Don't Need To Raise Capital (BCS)
Wednesday, September 29, 2010 - 8:33am | 127Barclays PLC (NYSE: BCS) does not need to raise additional capital to meet requirements to comply with Basel III, says its CEO Bob Diamond. Diamond believes that the new rules could add $237 billion to its risk-weighted assets, but Barclays will be fine, as it lifted its core tier one capital ratio...
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Benzinga's Political Round Up
Tuesday, September 28, 2010 - 3:09pm | 186Rating agencies pressured Irish debt this morning, after Moody's and Fitch expressed some concerns over the country's austerity measures. This hurt shares of Allied Irish Banks, plc. (ADR) (NYSE: AIB). Aluminum Corp. of China (NYSE: ACH) is investing $1.5 billion in rare earth metals, as China...
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Royal Bank of Scotland Plans To Reduce More Jobs: Media Reports
Tuesday, September 28, 2010 - 7:08am | 150As per the latest media reports, Royal Bank of Scotland (NYSE: RBS) is planning to reduce 500 more positions. RBS will be lowering jobs of back-office operations in its investment banking unit. RBS had already reduced 3,500 back-office jobs, a few weeks earlier. RBS' spokesperson has still not...
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Earnings Scheduled For September 28 (WAG, ZZ, LNDC, SMSC, MLNK, NBG)
Tuesday, September 28, 2010 - 4:38am | 144Walgreen Company (NYSE: WAG) may post its FQ4 EPS at $0.44. Sealy Corp (NYSE: ZZ) is likely to earn $0.05 per share in the third quarter. Landec Corp (NASDAQ: LNDC) is expected to post its Q1 EPS at $0.09. Standard Microsystems Corp (NASDAQ: SMSC) is estimated to report its Q2 earnings of $0.41 per...
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The Wrong Long: How TPG Capital Lost $2.0 Billion at Washington Mutual
Monday, September 27, 2010 - 11:43am | 472A few weeks ago, ahead of the second anniversary of Lehman Brothers collapse, I went back into my files to reread what I'd written during 2008 to see if there were any lessons to be learned that hadn't already been tackled in the book explosion arising from the financial crisis. That led me to ask...
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Stocks Going Ex Dividend the First Week of October
Sunday, September 26, 2010 - 12:28am | 742Here is our latest update on the stock trading technique called 'Buying Dividends'. This is the process of buying stocks before the ex dividend date and selling the stock shortly after the ex date at about the same price, yet still being entitled to the dividend. This technique generally works only...
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Santander-M&T Talks Hit Rough Patch
Saturday, September 25, 2010 - 7:56pm | 148Discussions between Spain's Banco Santander (NYSE: STD) and New York-based M&T Bank (NYSE: MTB) regarding a deal in which M&T would acquire Santander's Sovereign Bancorp(NYSE: SOV) have apparently stalled. The main sticking point is about who gets control of the merged entity, the Wall...
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HSBC Confirms Gulliver, Green as New CEO, Chairman (HBC)
Friday, September 24, 2010 - 2:30pm | 95HSBC Holdings (NYSE: HBC) confirmed Friday that outgoing CEO Michael Geoghegan is going to be replaced by Stuart Gulliver. In addition, Douglas Flint, the finance director as HSBC, is confirmed to be the replacement for Chairman Stephen Green after Green accepted a post in the British government...
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Benzinga's Top ETF Decliners (DRN, FAS, URE, UYG, TNA, EWD)
Thursday, September 23, 2010 - 6:14pm | 229Direxion Daily Real Estate Bull 3X (ETF) (NYSE: DRN) and ProShares Ultra Real Estate (ETF) (NYSE: URE) dropped 7.94% and 4.43% respectively, as the real estate stocks struggled today. Public Storage (NYSE: PSA) dropped 3.34% in today's trading session. Direxion Daily Financial Bull 3X Shares(ETF...
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Benzinga's Top ETF Gainers (DRV, FAZ, TZA, SKF, VXX)
Thursday, September 23, 2010 - 6:00pm | 252Direxion Daily Real Estate Bear 3X (ETF) (NYSE: DRV) continued to move higher on Thursday. Today's trading session was the third consecutive trading session that DRV closed in the positive territory. DRV gained 8.11% today, and closed at $25.05. In the space, Simon Property Group, Inc (NYSE: SPG)...
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This Rally Is Over For Now; Thank The Financials (GS, MS, BAC, C, WFC)
Thursday, September 23, 2010 - 3:26pm | 128I think the financial stocks have killed this rally for now. If the bulls out there are looking for a reason to get nervous and take profits, look no further than Goldman Sachs (NYSE: GS), Morgan Stanley (NYSE: MS), Bank of America (NYSE: BAC), Citigroup (NYSE: C) and Wells Fargo (NYSE: WFC). Below...
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Canada has a Better Housing Market than the US
Thursday, September 23, 2010 - 12:20pm | 428According to a recent article by KIF Capital Management, Canada generally doesn't use 30 year fixed mortgages; most are 25 years and generally reset the interest rate every five years. In addition, there is no Canadian Fannie Mae or Freddie Mac (FMCC.OB). This makes for a more robust housing and...
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Liberty Property Offers Senior Notes - Analyst Blog
Thursday, September 23, 2010 - 10:54am | 518Liberty Property Trust (LRY), a leading real estate investment trust (REIT), has recently announced an offer to sell $350 million worth of 4.75% senior unsecured notes due October 2020. The notes are priced at 99.76% to yield 4.78%. BofA Merrill Lynch, the investment banking and wealth...