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Benzinga’s Top Pre-Market Gainers (TWPG, DRAD, EMMS, PONE, TZOO)
Monday, April 26, 2010 - 9:36am | 170Thomas Weisel Partners Group, Inc (NASDAQ: TWPG) soared 66.51% to $7.26 in the pre-market session. TWPG has agreed to be acquired by rival Stifel Financial Corp (NYSE: SF) in a stock only deal amounting to roughly $300 million.. Digirad Corporation (NASDAQ: DRAD) added 39.32% to $2.87 in pre-market...
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Company News for April 26, 2010 - Corporate Summary
Monday, April 26, 2010 - 9:30am | 238• Charles River (NYSE:CRL) announced plans to acquire China’s WuXi PharmaTech (NYSE:WX) for $21.25 in cash and common shares, a deal valued at $1.6 billion • Hertz (NYSE:HTZ) plans to buy Dollar Thrifty (NYSE:DTG) for $41, 80% in cash and 20% in stock, for $1.2 billion total • Citigroup (NYSE:C)...
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Stock Market News for April 26, 2010 - Market News
Monday, April 26, 2010 - 9:30am | 439A strong report on new home sales and better-than-expected earnings from American Express sent stocks higher Friday and helped the Dow average register its 11th gain in the last 12 trading sessions. On Friday, the Dow average rose 70 points, or about 0.6%, for its eighth straight weekly advance....
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Treasury To Sell Citigroup Shares (C)
Monday, April 26, 2010 - 8:32am | 116The U.S. Treasury Department is planning to sell 1.5 billion Citigroup (NYSE: C) shares. The sale will help the Treasury offload 20% of its total stake in the bank. The government had received these shares in lieu of financial support given to the bank during the financial crisis. Treasury refused...
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Stifel May Buy Thomas Wiesel For $300 Million
Monday, April 26, 2010 - 5:21am | 92Brokerage firm Stifel Nicolaus (NYSE: SF) may acquire smaller rival Thomas Wiesel Partners for $300 million in stock, according to a report in the Wall Street Journal. Based on Stifel's closing price Friday of $55.74, the deal values Weisel at $7.60 a share, or about a 74% premium to the stock's...
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Financial Sector Inches Up To Add To Early Weekly Gains
Monday, April 26, 2010 - 5:21am | 449US financial stocks were nudged higher on Friday with the help of bank shares, exchange operators and impressive credit card earnings. Both the Financial Select Sector SPDR Fund and the SPDR KBW Bank Fund swung back and forth between negative and positive territory on Friday. While the Financial...
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Former Moody’s (MCO) Director Says That Firm Was Not Aware About Paulson Shorting Abacus
Saturday, April 24, 2010 - 11:33am | 114Eric Kolchinsky, a former Moody’s (NYSE: MCO) managing director, said that the firm was not aware that hedge fund manager John Paulson was taking short positions in derivative products, which were created by Goldman Sachs (NYSE: GS), rated by the agency. According t0 Reuters, the former Moody’s...
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Fast Money Picks For April 26th (CMA, GS, SI, AAPL)
Friday, April 23, 2010 - 6:32pm | 168CNBC Fast Money's Joe Terranova thinks that it would be wise to short Comerica Incorporated (NYSE: CMA) on Monday. Comerica Incorporated (NYSE: CMA) fell 0.72% today and it closed the trading session at $44.28. Steve Grasso thinks that you should buy Goldman Sachs (NYSE: GS), but if it starts to...
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Goldman Hid Information: Former Moody Executive (GS)
Friday, April 23, 2010 - 6:29pm | 145A former Moody’s executive said that Goldman Sachs (NYSE: GS) had hid the information about their collaboration with Paulson & Co. Eric Kolchinsky, a former team managing director at Moody’s, said, “I did not know that and I'm fairly sure that my staff did not know either." Kolchinsky was...
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Lehman Disputes Nomura Claims (NMR)
Friday, April 23, 2010 - 6:17pm | 151Lehman Brothers Holdings Inc. has filed a suit against Nomura Holding Inc. (NYSE: NMR) alleging that the Japanese bank owes it money. Nomura Holdings (NMR), on the other hand, has claimed that the failed financial institution owes it $760 million. According to Reuters, Nomura has filed more than $2...
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Paulson & Co. Ready To Pay Any Legal Fees In Connection With Goldman Sachs (GS) Lawsuit
Friday, April 23, 2010 - 6:13pm | 147John Paulson, hedge fund manager and founder of Paulson & Co., who along with his firm has been named by the SEC of being involved with Goldman Sachs (NYSE: GS) in the fraud related to CDOs backed by subprime mortgages, said today that his firm was to ready to bear any legal costs related to...
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Wall Street Not Impressed With Obama’s Arguments (GS)
Friday, April 23, 2010 - 4:17pm | 135On Thursday, President Barack Obama addressed financial firms at Cooper Union in lower Manhattan. However, Obama’s argument for financial sector reform did not go down very well with Wall Street. Frank Clemente, a stock broker, said, “It doesn't seem necessary for him to come down here.” Clemente...
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Other Wall Street Firms Could Also Face Charges From SEC (GS, UBS, MS, BAC)
Friday, April 23, 2010 - 3:41pm | 164Following last Friday’s lawsuit against Goldman Sachs (NYSE: GS), the Securities and Exchange Commission (SEC) is now eying other Wall Street firms also, which turned subprime mortgages into complex securities. According to LA Times, following the Goldman lawsuit, the SEC is now looking at similar...
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The Secular Bull Market In Gold Bullion And Gold ETFs Is Far From Over (NYSE:GLD)
Friday, April 23, 2010 - 3:23pm | 215Let me start off by saying the market should be correcting. Sentiment has reached ridiculous bullish extremes, the kind of extremes that led to the January /February correction(...)Read the rest of The Secular Bull Market In Gold Bullion And Gold ETFs Is Far From Over (NYSE:GLD) Copyright 2010...
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Afternoon Market Roundup Palm (NASDAQ: PALM), Moody's (NYSE: MCO), Goldman (NYSE: GS), Morgan Stanley (NYSE: MS), Citigroup (NYSE: C)
Friday, April 23, 2010 - 3:21pm | 242Palm loses a suitor. Taiwan's HTC, which was reviewing the company books of Palm (NASDAQ: PALM), has reportedly decided not to place a bid for the company. The source close to HTC said that "there weren’t enough synergies to take the deal forward." This leave PALM with Lenovo (OTC: LNVGY.PK), which...