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News Summary (MS, GS, C)
Friday, April 30, 2010 - 9:24am | 242The day started on a bright note after EC President Jose Manuel Barroso announced that a Greek rescue package that will be sufficient to prevent a European debt contagion will be finalized within a few days. According to sources, Greece has agreed to the plan for €24 billion ($31.9 billion) worth...
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US Stock Futures Move Up On Fresh Optimism
Friday, April 30, 2010 - 9:18am | 310US stock futures moved up with investors expecting first quarter GDP to support the positive outlook delivered by several companies during the earnings season. Moreover, hopes have risen of an aid package for Greece being finalized by the end of the weekend. While futures on the S&P 500 added 1...
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Consider Selling A Put Spread On The SPDR Gold ETF (NYSE:GLD) To Take Advantage Of A Continued Rise In Gold
Thursday, April 29, 2010 - 4:05pm | 220With Tuesday’s free fall in equities came a rush into the supposed safety zone of gold. After lying dormant for five months, gold is knocking on the door of a potential breakout. Since December 2009, gold has found a home within the $100 point range between 1060 and 1160. Will this base serve as a...
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Afternoon Market Update Goldman Sachs (NYSE: GS), Sears Holdings (NASDAQ: SHLD)
Thursday, April 29, 2010 - 3:36pm | 311According to German officials, IMF chief Dominique Strauss-Kahn has pledged to increase Greece's aid package, currently at €45 billion, to as much as €120 billion ($158 billion) over the next three years. Meanwhile, Germany's Merkel has commented that talks to provide aid to Greece require fast...
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Market Roundup (AAPL, ADBE, NDAQ, NYX, ICE, CME, GS, PG)
Thursday, April 29, 2010 - 1:58pm | 309Apple's (NASDAQ: AAPL) Steve Jobs has posted a scathing letter in which he has criticized Adobe's Flash technology(NASDAQ: ADBE). Steve said that the technology has "major technical drawbacks" and mentioned that both companies have "few joint interests." ADBE has drawn fire for the absence of...
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Calls Sold on E*Trade…Again
Thursday, April 29, 2010 - 12:55pm | 157E*Trade Financial Corporation (NASDAQ: ETFC) is selling off this morning to $1.71, down 7.07% on the session in reaction to the pricing of 172 million shares at $1.75. See this morning’s article entitled “Citadel Sells 172 Million Shares of E*Trade” for more information on the sale. A short...
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KBW Announces Change to KBW Regional Banking Index (KRX)
Thursday, April 29, 2010 - 11:48am | 141Keefe, Bruyette & Woods, Inc., a full-service investment bank that specializes in the financial services sector, and a wholly owned subsidiary of KBW, Inc. (NYSE: KBW), today announces upcoming changes to the KBW Regional Banking Index (Index Symbol: KRX(SM), ETF Symbol: KRE(SM), KRS(SM), (...)...
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Goldman Not Currently Negotiating A Settlement With SEC (GS)
Thursday, April 29, 2010 - 11:47am | 198Although most observers believe that Goldman Sachs (NYSE: GS) will eventually settle the civil fraud charges that the SEC has brought against the firm, published reports that the firm is currently negotiating a settlement are not true. According to the FOX Business Network, there are "no...
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Stock Market News for April 29, 2010 - Market News
Thursday, April 29, 2010 - 9:30am | 580After Tuesday’s drubbing, stocks rebounded and closed with modest gains as the U.S. Federal Reserve’s two-day policy meeting concluded on expected lines. The U.S. central bank’s decision to keep interest rates low for “an extended period" gave markets a much-needed boost after Greece and Portugal’...
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Goldman Sachs (GS) Says Its Primary Role IS To Arrange And Sell Securities
Thursday, April 29, 2010 - 8:17am | 115During their 11 hours testimony before the Senate Permanent Subcommittee on Investigations, Goldman Sachs (NYSE: GS) executives reiterated time and again that they acted as mere market makers, whose primary responsibility was to arrange and sell securities backed by mortgages to investors....
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Goldman Sachs May Touch $200: Analyst Tells CNBC (GS)
Thursday, April 29, 2010 - 7:08am | 117Goldman Sachs (NYSE: GS) is under fire, but according to Rochdale Securities, the stock is a good buy. Richard Bove, banking analyst with Rochdale Securities, shared his insight with CNBC. He siad, “I think the SEC suit will be thrown out of court, I think Goldman’s (GS) reputation will improve. I...
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Brazilian Economy Shows Signs Of Overheating (GS)
Wednesday, April 28, 2010 - 6:47pm | 427The excitement, which was built by Brazil’s fast economic recovery from the global slowdown, has now turned into a concern. According to the Wall Street Journal, analysts are worried that the giant South American economy has started to overheat. Worried over inflation, the Central Bank of Brazil is...
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Current Market Conditions
Wednesday, April 28, 2010 - 5:13pm | 674Over the last few days the overall complexion of the market has seemed to change a bit. The price action has seemed heavy with some very strong down moves in previously strong stocks and sectors. Now obviously I’m no expert on where the market is going. For all I know the market may keep...
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Market Roundup (PPL, GS, FNM, DUK, FRE, MCD, WMT)
Wednesday, April 28, 2010 - 2:37pm | 283PPL (NYSE: PPL) has agreed to buy the US assets belonging to E.On (OTC: EONGY.PK) in a deal worth $7 billion, according to David Faber. This comes as a surprise to those who thought that Duke Energy (NYSE: DUK) was prevailing in the three-company competition. According to the Wall Street Journal,...
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Dawn Rises After The Blood Bath Yesterday Ahead Of Federal Reserve
Wednesday, April 28, 2010 - 12:17pm | 445The sun rose again, after the dramatic sell off yesterday. The markets dropped over 2% on the back of ugly news out of Europe on Greece and Portugal while back in the United States, Goldman Sachs Group, Inc. (NYSE: GS) was getting grilled by the Senate on Capitol Hill. The markets had their...