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Stock Market News for August 9, 2010 - Market News
Monday, August 9, 2010 - 5:52pm | 958A greater-than-anticipated drop in July non-farm payrolls sent investors away from stocks Friday, but the losses were modest and stocks managed to close the week firmly in the green. All three major indexes ended at least 1.5% higher on the week. On the week, the Dow industrials and the S&P...
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GS Spinoff Features Tech Issue - Analyst Blog
Monday, August 9, 2010 - 5:52pm | 731Goldman Sachs Group Inc. (GS) is facing an unanticipated technology problem related to its plan of spinning off part of its proprietary trading business, according to a report on CNBC. A particular computer language called "Slang" was developed for internal usage for GS’ traders which play a key...
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Citi Reiterated At Neutral - Analyst Blog
Monday, August 9, 2010 - 5:52pm | 1201We have reiterated our Neutral rating for Citigroup Inc. (C) following the company’s earnings release. Our decision is based on the company’s fundamentals and the current economic scenario. Second Quarter Performance Citi reported second quarter earnings of 9 cents per share, ahead of the...
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Stifel Financial Posts Mixed Earnings (SF)
Monday, August 9, 2010 - 4:38pm | 168Stifel Financial Corp. (NYSE: SF) reports Q2 EPS of $0.69 versus estimates of $0.70. Stifel Financial Corp. reports Q2 revenues of $328 million versus estimates of $321.11 million. Revenues increased 25% year over year; net income increased 34% year over year. "We are very pleased to report record...
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Afternoon Market Update (GOOG, VZ, TSN, GS, JPM)
Monday, August 9, 2010 - 3:32pm | 218Google (NASDAQ: GOOG) and Verizon (NYSE: VZ) have issued a joint proposal for an open internet. "Users should choose what content, applications, or devices they use, since openness has been central to explosive innovation... America must continue to encourage both investment and innovation to...
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Shorebank Goes the Way of Lehman Brothers…(GS)
Monday, August 9, 2010 - 3:03pm | 372…No, not bankruptcy; rather Charlie Gasparino is reporting on Fox Business Network that the bank may be broken up into a “Good Bank-Bad Bank.” While this sounds eerily similar to another troubled firm with toxic assets on its balance sheet, given Shorebank’s size and backing by the FDIC, this plan...
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MediaMind Expects To Raise $73M In IPO
Monday, August 9, 2010 - 2:55pm | 119MediaMind Technologies Inc., the digital advertising company, plans to raise $73 million in its initial public offering later this week. MediaMind, previously called Eyeblaster, plans to offer 5 million shares for $14 to $16 each. The expected proceeds of $73 million are based on the $15 midpoint...
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Schwab Launches New ETFs - Analyst Blog
Monday, August 9, 2010 - 2:42pm | 530Last week, Charles Schwab Corporation (SCHW) announced the launch of three new bond Exchange-Traded Funds (ETFs). This will increase the tally of Schwab’s total ETFs to 11. Previously the company had 8 Equity ETFs. The new bond ETFs are expected to offer coverage to short-term, intermediate-term...
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How the Mighty Have Fallen: Goldman Posts Mediocre Trading Quarter (GS)
Monday, August 9, 2010 - 1:50pm | 168Goldman Sachs (NYSE: GS) experienced an unusual 10 days of trading losses for the second quarter, with three days of more than $100 million in trading losses, according to a report filed Monday. The results contrast sharply with the first quarter, when Goldman Sachs hit trading perfection. Goldman...
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TD Ameritrade Announces 30M Share Repurchase
Monday, August 9, 2010 - 1:26pm | 43Online broker TD Ameritrade (Nasdaq: AMTD) announced a new 30 million share repurchase plan today. The company recently wrapped a 15 million share buyback plan. As of July 31, the company had 576 million shares outstanding, according to Barron's.
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TD Ameritrade Announces Buyback Program (AMTD)
Monday, August 9, 2010 - 9:07am | 38TD Ameritrade (NASDAQ: AMTD) announced this morning it is going to buyback up to 30 million common shares. Shares of the online brokerage house are up 10 cents in pre-market trading, to $16.54.
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Goldman Sachs (GS) - Bear of the Day
Monday, August 9, 2010 - 4:12am | 287We are downgrading our recommendation on Goldman Sachs (GS) to Underperform from Neutral, based on the effects related to Securities and Exchange Commission (SEC) charges and the negative impact of new financial regulatory reform. Litigation issues not only impact a company's reputation but also...
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Goldman May Get Up To 35% Of Revenue From Derivatives
Saturday, August 7, 2010 - 8:15pm | 128Goldman Sachs (NYSE: GS), the largest U.S. investment bank, may get 25% to 35% of its revenue from derivatives. Goldman provided that information to the Financial Crisis Inquiry Commission after exeuctives previously said they weren't sure what portion of the firm's revenue came from derivatives....
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Stocks Stuck in the Red on Jobs
Friday, August 6, 2010 - 2:25pm | 358(TheStreet) -- Stocks were mired in negative territory Friday as seven consecutive months of private sector job growth have done little to offset unexpectedly high job losses in July and a steep downward revision to June's levels. The Dow Jones Industrial Average was down 143 points, or 1.3%, to 10...
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Goldman Maybe Going Private??? (GS)
Friday, August 6, 2010 - 2:01pm | 56There is a rumor out on the trading floor that investment bank Goldman Sachs (NYSE: GS) may be taking itself private fairly soon in order to avoid dealing with increased regulation. Shares of Goldman are spiking up on this rumor, now at $154.69 after having been down more earlier.