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MF Global Rallying In After Hours; Corzine Named New CEO (MF)
Tuesday, March 23, 2010 - 5:38pm | 152Shares of MF Global (NYSE: MF) are moving appreciably higher in the after hours after an announcement that former co-chairman of Goldman Sachs and New Jersey governor, Jon Corzine will take over as Chairman and CEO of the company. In the press release, MF Global (MF) said that Corzine will replace...
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Market Roundup (VALE, LGF, BHP, RTP, CVC, SKS, SCHW, SQNM)
Tuesday, March 23, 2010 - 3:13pm | 346According to Credit Suisse, with Vale (NASDAQ: VALE) pushing for shorter quarterly contracts with steel-mill customers, ore prices could jump 90% by next month. VALE has made a move to index pricing after BHP Billiton (NYSE: BHP) and Rio Tinto (NYSE: RTP) have moved away from annual negotiations....
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UBS Equities Head Quits (UBS)
Tuesday, March 23, 2010 - 1:50pm | 153Daniel Coleman, head of global equities at UBS (NYSE: UBS), has stepped down. The move is considered to be a part of an across-the-board reorganization process undertaken by the financial services giant. UBS’s (UBS) global securities Chief Neal Shear will be the interim global equities head. Shear...
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Jefferies Rates GFI Group A Buy (GFIG)
Tuesday, March 23, 2010 - 11:15am | 163In a research report issued today, Jefferies & Company reiterated their Buy rating on shares of GFI Group (NASDAQ: GFIG). The analysts wrote that "2010 will be highlighted by year/year revenue growth and modest margin expansion. While current trends have moderated from January levels, we...
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Market Update – Ford Motor Company (NYSE:F), American International Group (NYSE:AIG), Morgan Stanley (NYSE:MS), Goldman Sachs Group (NYSE:GS), Intel Corporation (NASDAQ:INTC)
Tuesday, March 23, 2010 - 10:20am | 1015The Congressional committee on housing, the Federal Housing Committee, is meeting today to decide what the next move is with Fannie Mae and Freddie Mac. The government nationalized the two massive companies during the housing crisis and they have helped stabilize the housing market since then, in...
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Market Update – Ford Motor Company (NYSE:F), American International Group (NYSE:AIG), Morgan Stanley (NYSE:MS), Goldman Sachs Group (NYSE:GS), Intel Corporation (NASDAQ:INTC)
Tuesday, March 23, 2010 - 10:20am | 1015The Congressional committee on housing, the Federal Housing Committee, is meeting today to decide what the next move is with Fannie Mae and Freddie Mac. The government nationalized the two massive companies during the housing crisis and they have helped stabilize the housing market since then, in...
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Volume Talks Monday: A Sirius Reversal
Tuesday, March 23, 2010 - 9:39am | 2912As the market traded higher across the board Monday on lighter volume, there were many stocks which traded higher/lower on above average volume. Today's breakout report is for Monday March 22, 2010. If this is your first time reading one of my breakout reports you'll want to read the section...
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Company News for March 23, 2010 - Corporate Summary
Tuesday, March 23, 2010 - 9:21am | 217• Walgreens (NYSE:WAG) posted fiscal second-quarter earnings of 70 cents, one cent below Zacks projections, on revenues of $16.99 billion, which was below Zacks projections of $17.23 billion • A. O. Smith (NYSE:AOS) said it sees first-quarter earnings of $0.95 to $1.00 a share • Piper Jaffray (NYSE...
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E*Trade Financial Corp. Appoints New CEO (ETFC, C)
Monday, March 22, 2010 - 7:54pm | 157E*Trade Financial Corp. (NASDAQ: ETFC) has appointed Steve Freiberg as its new Chief Executive Officer. Freiberg is an Ex-Citigroup (NYSE: C) executive with consumer finance experience. Freiberg will replace interim Chief Executive Officer Robert Druskin. He is likely to join E*Trade Financial Corp...
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Joe Terranova Is Short Goldman (GS)
Monday, March 22, 2010 - 5:34pm | 137Tonight on Fast Money, Joe Terranova said that he is shorting Goldman Sachs (NYSE: GS) in expectation that Financial Reform will be passed by the U.S. congress. He said that he is both short the equity and long the $175 puts in the name. Pete Najarian said that he thinks Terranova should buy some...
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E*TRADE (ETFC) Approves Reverse Stock Split
Monday, March 22, 2010 - 5:16pm | 145Today was a busy day for E*TRADE Financial. E*TRADE (ETFC) named a new CEO and announced plans for a reverse stock split. Steven Freiberg was picked as the new CEO of E*TRADE. The former Citigroup executive will officially take over April 1st. Freiberg will have his hands full trying to turn the...
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Citigroup Nabs Nomura Executive (C, NMR)
Monday, March 22, 2010 - 2:29pm | 142Citigroup Inc. (NYSE: C) has appointed Colin Banfield has its new head of merger and acquisitions for the Asia-Pacific region. He will replace Steven Wallace, who left the firm in 2009. Banfield had recently resigned from Nomura Holdings Inc. (NYSE: NMR). He also has worked with Lehman Brothers....
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Financials Under Pressure, Sights On Financial Reform.
Monday, March 22, 2010 - 1:21pm | 299Financial stocks are weaker today as many investors fear the bulls eye is directly on stocks like Goldman Sachs Group, Inc. (NYSE: GS), JPMorgan Chase & Co. (NYSE: JPM), Wells Fargo & Company (NYSE: WFC), Morgan Stanley (NYSE: MS) and others. Why you may ask? President Obama has just...
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Market News – Johnson & Johnson (NYSE:JNJ), Bank of America (NYSE:BAC), Citigroup (NYSE:C)
Monday, March 22, 2010 - 11:59am | 841The United States’ House of Representatives approved the long awaited and highly controversial Health Care reform bill late Sunday by a vote of 219-212. The bill, which will cost an estimated $940 billion over ten years, will extend health care insurance to 32 million uninsured and underinsured...
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Market News – Johnson & Johnson (NYSE:JNJ), Bank of America (NYSE:BAC), Citigroup (NYSE:C)
Monday, March 22, 2010 - 11:59am | 841The United States’ House of Representatives approved the long awaited and highly controversial Health Care reform bill late Sunday by a vote of 219-212. The bill, which will cost an estimated $940 billion over ten years, will extend health care insurance to 32 million uninsured and underinsured...