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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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Markets Continue Their Upward Swing
Thursday, September 23, 2010 - 12:27pm | 336The markets opened sharply lower today, only to reverse and head higher. After ugly European PMI economic data and U.S. Jobless Claims that came in slightly worse than last week, the markets saw their first major red open in weeks. The SPDR S&P 500 ETF (NYSE: SPY) dropped down to $112.49 after...
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Financials Starting To Strengthen Today
Thursday, September 23, 2010 - 10:41am | 177The financial stocks are beginning to strengthen today, helping push up the major market averages. Shares of JPMorgan Chase & Co. (NYSE: JPM) are still down over 1%, but well off the lows set this morning when the weekly jobless claims put a damper on the futures. Bank of America Corporation (...
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Benzinga's Top Upgrades (PT, EW, ENDP, AMTD)
Thursday, September 23, 2010 - 8:06am | 144Portugal Telecom SGPS SA (NYSE: PT) was upgraded by Nomura from “reduce” to "neutral." PT's shares closed at $12.87 yesterday. Portugal Telecom's quarterly earnings gained 82.50% y/y. Piper Jaffray upgraded Edwards Lifesciences Corp (NYSE: EW) from "neutral" to "overweight." EW's shares closed at $...
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Tumbling Techs Take Down Dow
Thursday, September 23, 2010 - 8:01am | 222The Dow backed away from four-month highs and ended its five-day win streak on Wednesday as traders took risk off the table amid an Adobe-fueled selloff in the tech world and faltering financial stocks. Yesterday's Markets The Dow Jones Industrial Average fell 21.72 points, or 0.20%, to 10739.31,...
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Goldman Downgrades OXPS To Sell
Thursday, September 23, 2010 - 7:31am | 48Analysts at Goldman downgrade optionsXpress Holdings Inc (NASDAQ: OXPS) from "neutral" to "sell." The target price for OXPS is set to $16. OXPS shares dropped 1.53% to close at $15.45 yesterday. More Analyst Ratings here
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SEC Calls Timing Of Goldman Investigation “Suspicious”, But It Doesn't Matter
Thursday, September 23, 2010 - 7:04am | 172The SEC Inspector General said the the timing of a fraud case against Goldman Sachs Group (NYSE: GS) was “suspicious” and may have been used to cover its mistakes in failing to discover a Ponzi scheme by Allen Stanford. SEC Inspector General H. David Kotz said in testimony before Congress that “It...
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Benzinga's Top ETF Decliners (BOM, FAS, BHH, SOXL)
Wednesday, September 22, 2010 - 4:57pm | 215PowerShares DB Base Metals Double Short ETN (NYSE: BOM) led the decliners among ETFs today, with an decrease of 6.39%. BOM struggled as aluminum, copper and zinc traded higher today. Direxion Daily Financial Bull 3X Shares(ETF) (NYSE: FAS) traded lower along with the financial stocks. Morgan...
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Benzinga's Top ETF Gainers (FAZ, SOXS, TZA, DRV)
Wednesday, September 22, 2010 - 4:41pm | 193Direxion Daily Financial Bear 3X Shares(ETF) (NYSE: FAZ) traded higher on Wednesday, as the financial stocks struggled. FAZ added 4.39%, and in the space, Morgan Stanley (NYSE: MS) dropped 4.26% and Wells Fargo & Company (NYSE: WFC) fell 2.16%. Direxion Daily Semiconductor Bear 3X Shares (NYSE...
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Jefferies Group (JEF) Shares Follow Earnings And Revenue Down
Wednesday, September 22, 2010 - 3:29pm | 278Shares of Jefferies Group, Inc. (NYSE: JEF) are trading down 5% at $23.00 per share on Wednesday afternoon. The day's trading range for shares of Jefferies Group, Inc has been between $22.47 and $23.50 per share. Analysts covering the company's stock have a consensus price target of $26.92 per...
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China Will Continue to Drive Gold, Oil Prices
Wednesday, September 22, 2010 - 3:12pm | 110It's been a lively year for both gold and oil investors but the year to remember may be the one ahead. Goldman Sachs (NYSE: GS) is forecasting a 27% jump in energy and a 17% rise in precious metals over the next 12 months. On the oil side, Goldman credits a rebound in industrial production for a...
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Late Market Roundup
Wednesday, September 22, 2010 - 2:39pm | 256US Financial shares performed the worst in the S&P 500 today. The decliners in the list were Morgan Stanley (NYSE: MS), Goldman Sachs (NYSE: GS), Citigroup (NYSE: C) and Bank of America Corp (NYSE: BAC). Shares of regional banks like Zions Bancorp (NASDAQ: ZION) and Marshall & Ilsley Corp (...
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Jefferies Posts Weaker-Than-Expected Q3 Results, Declares Dividend
Wednesday, September 22, 2010 - 9:37am | 214Jefferies & Co (NYSE: JEF) reported weaker-than-expected third-quarter results. JEF reported its Q3 net income at $46.26 million, or $0.23 per share, down from $86.29 million, or $0.42 per share, in the year-ago quarter. The company's revenue came in at $520.1 million, from $700.4 million, in...
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Jefferies Q3 Results Miss Consensus
Wednesday, September 22, 2010 - 9:07am | 55Jefferies Group (NYSE: JEF) reports its Q3 EPS at $0.23, missing the consensus of $0.32. JEF reports its Q3 revenue at $520.1 million, versus the estimates of $573.92 million. JEF's shares dipped 6.43% to $22.69 in pre-market trading. Read more from Benzinga's Company news.
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Jefferies Group (JEF) Revenue And Earnings Plunge
Wednesday, September 22, 2010 - 8:55am | 247New York city based Jefferies Group, Inc. (NYSE: JEF) announced on Wednesday morning that it missed consensus Wall Street earnings estimates. Jefferies Group, Inc reported that its 3rd quarter net earnings to common shareholders fell to $46.3 million, or 23 cents per share, down from $86.3 million...