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SWS Group, Inc. Reports First Quarter Fiscal 2011 Results: Loss of $0.64 Per Share
Tuesday, November 2, 2010 - 4:06pm | 109SWS Group, Inc. (NYSE: SWS) today announced financial results for its first fiscal quarter ended September 24, 2010, citing solid performances in its clearing, retail and institutional segments, which each recorded pre-tax profits for the quarter. Elevated loan loss provisioning in the firm's...
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Elan Matches Earnings Ests. - Analyst Blog
Tuesday, November 2, 2010 - 9:35am | 555Elan Corporation plc (ELN) reported loss per share of 7 cents for the third quarter of 2010, in line with the Zacks Consensus Estimate but way below the year-ago earnings of 11 cents per share. The year-ago quarter saw Elan recording a divestment gain of $107.7 million, which is primarily the...
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Certain Lazard Ltd Shareholders to Sell 3M Shares of Common Stock
Monday, November 1, 2010 - 4:40pm | 113Lazard Ltd (NYSE: LAZ) announced today that certain shareholders, including current and former Lazard Managing Directors, have agreed to sell 3,000,000 of their shares of Lazard Ltd Class A common stock in an underwritten public offering. Lazard will not receive any proceeds from the sale of shares...
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Check Out ProPublica's Detailing Of The "Magnetar Trade" (JPM)
Monday, November 1, 2010 - 4:05pm | 178Shares of J.P. Morgan (NYSE: JPM) moved lower on Monday after reports that the bank is being investigated by the SEC for engaging in conduct similar to that of Goldman Sachs (NYSE: GS) in the ABACUS CDO deal. Goldman (GS) paid a $500 million fine after the SEC accused the firm of not disclosing to...
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J.P. Morgan Triggers The Sell Off
Monday, November 1, 2010 - 3:32pm | 156J.P. Morgan Chase & Co.(NYSE: JPM) has being investigated by the Securities and Exchange Commission. The investigation involves a hedge fund manager that was able to hand select mortgage backed securities that he chose to sell short. This sounds very similar to the Goldman Sachs Group(NYSE: GS...
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Stocks Violently Negative Now
Monday, November 1, 2010 - 3:20pm | 95Stocks have moved violently to the downside, after reports came out that J.P. Morgan (NYSE: JPM) is being investigated by the SEC for improperly letting a hedge select investments, similar to what happened with Goldman Sachs (NYSE: GS) Abacus deal. At last check, the Dow was off 46 points, the S...
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Strength Seen In Financials (C, GS, BAC, WFC, JPM, MS)
Monday, November 1, 2010 - 12:14pm | 125Financials are showing some strength on Monday. The Financial Select Sector SPDR ETF (NYSE: XLF) has gained 0.56% to $14.64. Citigroup (NYSE: C) is up 0.36% to $4.18. Goldman Sachs (NYSE: GS) has gained 0.65% to $162.18. Bank of America (NYSE: BAC) has added 0.79% to $11.54. Wells Fargo (NYSE:...
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Brian Kelly Wants To Buy iShares Barclays 20+ Year Treasury Bond (ETF) (TLT)
Friday, October 29, 2010 - 8:49pm | 190Brian Kelly said on CNBC's Fast Money that Goldman Sachs (NYSE: GS) believes that Fed's QE2 might focus more on 30-year bonds and other longer term bonds. This makes him bullish on iShares Barclays 20+ Year Treasury Bond (ETF) (NYSE: TLT), because he wants to buy what Fed is buying. Mr. Kelly...
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Lender Processing Matches Estimates - Analyst Blog
Friday, October 29, 2010 - 11:33am | 589Lender Processing Services Inc. (LPS) reported third-quarter 2010 adjusted earnings per share of 89 cents, in line with the Zacks Consensus Estimate as well as the company's guidance range of 88 cents to 90 cents. Results were also well ahead of the prior-year quarter's earnings of 83 cents. Year...
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Morgan Stanley Upgraded to Buy
Friday, October 29, 2010 - 10:37am | 18Ticonderoga upgrades Morgan Stanley (NYSE: MS) from Neutral to Buy.
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Oppenheimer Holdings Inc. Reports Third Quarter EPS of $.26
Friday, October 29, 2010 - 8:17am | 154Oppenheimer Holdings Inc. (NYSE: OPY) reported a net profit of $3.4 million or $0.26 per share for the third quarter of 2010 compared to a net profit of $7.9 million or $0.60 per share in the third quarter of 2009, a decrease of 56.7% in net profit. Revenue for the third quarter of 2010 was $235.1...
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Keefe Bruyette Downgrades BGCP To Market Perform
Friday, October 29, 2010 - 6:20am | 50Analysts at Keefe Bruyette downgrade BGC Partners Inc (NASDAQ: BGCP) from "outperform" to "market perform." The target price for BGCP is set to $8. BGCP's shares gained 1.27% to close at $7.20 yesterday. More Analyst Ratings here
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James H. Ross Named CEO of SWS Group, Inc.
Thursday, October 28, 2010 - 4:10pm | 112James H. Ross was named president, chief executive officer and member of the board of directors of SWS Group, Inc. (NYSE: SWS) on Tuesday. Mr. Ross had served as interim CEO and member of the board since the August 18 resignation of Donald W. Hultgren. "We are pleased to welcome Jim Ross as the CEO...
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Goldman's POMO Note Was The End Of The Bull Run
Thursday, October 28, 2010 - 11:25am | 255Goldman Sachs (NYSE: GS) released a note last week advising its clients to front run the NY Fed's POMO, and own stocks just on the days that the FRBNY conducted these operations. As Zerohedge correctly pointed out, the top is in. When a note like this is put out, every one and their brother gets...
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MF Global Declares Quarterly Dividend Payments
Thursday, October 28, 2010 - 9:36am | 49MF Global Holdings Ltd. (NYSE: MF) today announced that the company's board of directors has declared a quarterly dividend on MF Global's Series A and Series B Preferred Stock. 6% Cumulative Convertible Preferred Stock, Series A $2.68125 9.75% Non-Cumulative Convertible Preferred Stock,...