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Jefferies Announces Head of Ratings Advisory Group (JEF)
Monday, July 19, 2010 - 9:03am | 134In a further expansion of the firm’s Debt Capital Markets business, Jefferies (NYSE: JEF) announced today the addition of Paul D. Sandoli as a Managing Director and Head of its Ratings Advisory Group. In this role Mr. Sandoli will be responsible for leading the firm’s efforts in providing credit...
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Rodman & Renshaw Announces Analyst Discussion with Cleveland BioLabs, Inc. (RODM)
Monday, July 19, 2010 - 9:01am | 69Rodman & Renshaw, LLC, a subsidiary of Rodman & Renshaw Capital Group, Inc. (NASDAQ: RODM), a leading full service investment bank for growth companies today announced that on August 10, 2010, Rodman will host an analyst discussion in its media center with Michael Fonstein, Ph.D., President...
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24/7 Wall St. CEOs Who Need to be Fired: Nine for 2010
Monday, July 19, 2010 - 8:03am | 481Public companies dismiss CEOs all the time. The firings can be due to incompetence, malfeasance, or tensions with boards of directors or founders. 24/7 Wall St. has chosen nine sitting CEOs who should be let go by their boards. All the CEOs are on this list for simple reasons. The first is that...
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All it takes is one bad day and advantage goes to the bears
Sunday, July 18, 2010 - 10:14pm | 1627Friday stocks staged another retreat just when bulls were looking for upside follow-through. Instead of a nice push above the 50-day moving average, confirming the bullish trend, we got a 3% drop that wiped out more than a week's worth of gains. Now, charts are shaping to show lower highs and lower...
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Downward Slope Still in Place 07-16-2010
Friday, July 16, 2010 - 7:06pm | 773Cusick’s Corner The market affirmed today that the downward slope is still in place with no bounce into the After Hours. Folks, this is a traders market. This move today was based on higher volume and involved a larger number of sectors on the downside. We again want to see if the 1050-1040...
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Dow Tumbles 1% For Week, Bank Of America Skids (DJI, BAC, GS)
Friday, July 16, 2010 - 4:52pm | 132The Dow Jones Industrial Average (DJI) lost 261 points Friday, or 2.5%, to close at 10,098. For the week the blue chip index was down 1%. Disappointing earnings reports and a weak reading on consumer sentiment helped ignite today's selloff. The University of Michigan consumer sentiment index fell...
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Bookkeeping: Ending Affair with Citigroup (C), Added some TNA Short
Friday, July 16, 2010 - 3:46pm | 522We had a very quick fling that started Tuesday with Citigroup (C) that I am now breaking off. Needless to say, it was unsatisfying. I bought on the "breakout" earlier this week, hoping the JPMorgan (JPM) report would propel it, as well as Citi's report this morning. Neither caught the market's...
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Bears Grab Control on Heavier Volume 07-16-2010
Friday, July 16, 2010 - 3:12pm | 758Cusick’s Corner The bears grabbed control this expiration Friday. The volume is much higher today, a potential distribution into expiration, plus Gold (GLD -1.90) is getting whacked. This might be more of a technical pullback in the shiny metal but it also has dismissed my hypothesis that we are...
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A Look Ahead at Earnings Next Week
Friday, July 16, 2010 - 2:23pm | 970With the S&P 500 grasping at 1070, and yet another "90% day" as the student body has run back to the left ("risk off" stampede), let's take a look ahead at the key reports next week; both for the greater market and what we have our eyes on. The next 3 weeks are the heart of the earnings season...
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Calls Purchased on TD Ameritrade (AMTD)
Friday, July 16, 2010 - 1:20pm | 139Shares of TD Ameritrade (NASDAQ: AMTD) are higher on the session by 0.83%, currently trading at $15.83. The stock has been moving largely lower over the past six months, off from recent highs near $20.50. Options traders are betting that the stock may have bottomed. The August $16 call was...
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Options Expiration Comes To A Close, Markets Drop
Friday, July 16, 2010 - 12:09pm | 318A minor pivot day was alerted for today and the market dropped accordingly. Options expiration has come to a close and the institutions no longer have a reason to hold the market up. The massive rally late yesterday was a perfect fake out as called. The obvious timing of the Goldman Sachs Group,...
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Reform or Not, Bank Creditors Are Scared
Friday, July 16, 2010 - 11:55am | 227NEW YORK (TheStreet) -- It's hard to find anyone really fired up about the Dodd-Frank Wall Street Reform and Consumer Protection Act, but at least one of the legislation's goals appears to be being met: Bank creditors are scared. Scaring creditors of big, systemically important banks like Citigroup...
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24/7 Wall St. CEOs Who Need to be Fired: Nine for 2010
Friday, July 16, 2010 - 11:34am | 168Public companies dismiss CEOs all the time. The firings can be due to incompetence, malfeasance, or tensions with boards of directors or founders. 24/7 Wall St. has chosen nine sitting CEOs who should be let go by their boards. All the CEOs are on this list for simple reasons. The first is that...
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Oppenheimer Upgrades Goldman Sachs To Outperform, Following Settlement
Friday, July 16, 2010 - 9:57am | 124Oppenheimer upgrades Goldman Sachs (NYSE: GS) from “perform” to “outperform.” The 12-18 month target price for GS is set to $213. The upgrade in rating follows the company's settlement with the SEC for $550 million. The settlement should enable the stock to trade on the underlying earnings...
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Charles Schwab Trading Up Pre-Market On Strong Results
Friday, July 16, 2010 - 8:12am | 162Charles Schwab (Nasdaq: SCHW) reports Q2 EPS 17c versus consensus of 15c. SCHW Q2 reports revenues of $1.08 billion bs consensus of $1.06 billion. Chairman Charles Schwab said, “As we expected, our financial performance rebounded strongly in the second quarter – the company’s revenues were up $102...