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Market Morning – Citigroup (NYSE:C), JP Morgan Chase (NYSE:JPM), Sprint Nextel Corporation (NYSE:S), Verizon (NYSE:VZ), Rite Aid (NYSE:RAD)
Wednesday, March 31, 2010 - 10:25am | 1123Disappointingly, job figures released today from the ADP indicated that the economic recovery is as fragile as has been feared. March showed a net loss of 23,000 jobs in the private sector. February’s figures were also revised, and showed the month had a net loss of approximately 24,000 jobs (up...
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Market Morning – Citigroup (NYSE:C), JP Morgan Chase (NYSE:JPM), Sprint Nextel Corporation (NYSE:S), Verizon (NYSE:VZ), Rite Aid (NYSE:RAD)
Wednesday, March 31, 2010 - 10:25am | 1123Disappointingly, job figures released today from the ADP indicated that the economic recovery is as fragile as has been feared. March showed a net loss of 23,000 jobs in the private sector. February’s figures were also revised, and showed the month had a net loss of approximately 24,000 jobs (up...
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Stock Market News for March 31, 2010 - Market News
Wednesday, March 31, 2010 - 9:16am | 459U.S. stocks ended with modest gains Tuesday, with the blue-chip Dow average ending the day at fresh 18-month highs, as investors bought technology and industrial stocks even as confidence in Greece's ability to access credit markets showed signs of deterioration. Technology shares led the broader...
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Athabasca Oil Sands Seeks $1.32B In IPO
Wednesday, March 31, 2010 - 3:21am | 127Athabasca Oil Sands may raise up to $1.32 billion in Canada's largest IPO since 2006 after initially forecasting an IPO that would deliver $736 million. The IPO will be the largest in North America thus far in 2010. Athabasca will sell 75 million shares at $17.66 each and if the allotment is...
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Financial Sector Moves Lower (XLF)
Tuesday, March 30, 2010 - 7:29pm | 178Financial stocks moved lower today as Bank of America (BAC), Citigroup (C), and Goldman Sachs (GS) all declined today. The financial sector as a whole was lower on tepid volume. On CNBC's Halftime Report traders blamed profit taking for the decline in the sector. Pete Najarian believes that...
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Subprime Debt Rallies (JPM, MS, BCS)
Tuesday, March 30, 2010 - 4:33pm | 227Bloomberg reports that as the U.S. begins to give encouragement for reduction of homeowner’s balances, subprime – mortgage securities are seeing a rise at an accelerated pace. It is estimated that this will result in fewer foreclosures and a faster end to the housing slump. According to Markit...
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Fink Finally Gets Wilson On Board (BX, BLK, GS)
Tuesday, March 30, 2010 - 4:20pm | 337Bloomberg reports that Laurence D. Fink talks of the time in 1994 when he was unsuccessfully trying to convince Stephen A. Schwarzman, Blackstone’s (NYSE: BX) CEO, to sell BlackRock, Inc. (NYSE: BLK), Fink’s asset management business, to enable him to raise capital for pursuing growth. Ultimately...
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A New Neighbor Has Moved In, Duran Ventures (DRV.TSXV)
Tuesday, March 30, 2010 - 11:21am | 1985It is a well known truism that the best way to find a new resource is amidst the workings of an old mine – something our Featured Company, Duran Ventures (DRV:TSXV), continues to prove as it consistently develops its 100% owned Aguila flagship asset located in Peru. Aguila is a copper – moly...
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A New Neighbor Has Moved In, Duran Ventures (DRV.TSXV)
Tuesday, March 30, 2010 - 11:21am | 1985It is a well known truism that the best way to find a new resource is amidst the workings of an old mine – something our Featured Company, Duran Ventures (DRV:TSXV), continues to prove as it consistently develops its 100% owned Aguila flagship asset located in Peru. Aguila is a copper – moly...
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Market News – Bank of America (NYSE:BAC), American International Group (NYSE:AIG), Verizon (NYSE:VZ), Mitsubishi Financial Group (NYSE:MTU), Morgan Stanley (NYSE:MS)
Tuesday, March 30, 2010 - 10:54am | 973To start the news day, reports indicate that the housing market has continued to struggle early this year, but there’s some hope on the horizon. The S&P/Case-Shiller 20-city home-price index is reporting a 0.7% decline for January of this year (compared to last year). But this also means a...
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Market News – Bank of America (NYSE:BAC), American International Group (NYSE:AIG), Verizon (NYSE:VZ), Mitsubishi Financial Group (NYSE:MTU), Morgan Stanley (NYSE:MS)
Tuesday, March 30, 2010 - 10:54am | 973To start the news day, reports indicate that the housing market has continued to struggle early this year, but there’s some hope on the horizon. The S&P/Case-Shiller 20-city home-price index is reporting a 0.7% decline for January of this year (compared to last year). But this also means a...
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Teun Draaisma Of Morgan Stanley Believes The Rally Will End Soon
Tuesday, March 30, 2010 - 8:27am | 371According to an article by Teun Draaisma of Morgan Stanley (NYSE: MS) published on Seeking Alpha, the rally has moved ahead of itself and a correction is due in the market “as good news becomes bad news.” Draaisma, who is famous for making correct buy or sell calls and is one of those few...
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Financial Sector Ended In Slightly Positive Frame, With C Feeling The Heat Of Treasury Selloff (XLF, SPX, KBE, C, CBG, ETFC, JNS, MS)
Tuesday, March 30, 2010 - 6:33am | 273The financial sector ended in positive territory on Monday, with The Financial Select Sector SPDR Fund (NYSE: XLF), a barometer for the financial sector, adding 0.1%. However, the SPDR KBW Bank ETF (NYSE: KBE) closed down 0.5%, while the broader S&P 500 Index (NYSE: SPX) fared better and gained...
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Citigroup Strengthens Its Hedge Fund Team (C, MS)
Monday, March 29, 2010 - 7:57pm | 133Citigroup (NYSE: C) is augmenting its hedge fund servicing team. It has hired 13 new personnel to join its offices in London and New York. These new recruits specialize in trading and risk management. Citi has poached seven of its new hires from Barclays Capital. Five of the newcomers are from...
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There Are Still Some Bargains In The Market; Barron’s (LLY, PFE, GS, MS, CVX)
Monday, March 29, 2010 - 6:41pm | 496According to a report by Barron’s, despite the rally in the S&P 500, which has been up 70% since March 2009, there are still some bargains in the market. There still some companies trading at a multiple of less than 10 times their projected 2010 earnings. Barron’s list includes 19 such stocks...