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Meredith Whitney May Be Talking Up Goldman Sachs
Friday, January 29, 2010 - 11:43am | 93Meredith Whitney may be back at it again. There was some noise this morning that Meredith Whitney Advisory Group is speculating that Goldman Sachs (NYSE: GS) will give up its bank charter status soon to avoid new stricter rules on banks. This could be seen as a net positive for the company, but...
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Large Call Trade in Goldman Sachs
Friday, January 29, 2010 - 11:29am | 120Goldman Sachs (NYSE: GS) is seeing a large call trade this morning. The July $200 strike calls have been purchased, on the offer, for $1.65 10,380 times. The volume matched existing open interest, however, indicating that this was a closing transaction (more than likely) on that strike. If this...
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Company News for January 29, 2010 - Corporate Summary
Friday, January 29, 2010 - 10:28am | 172• Honeywell (NYSE:HON) reported a one penny fourth quarter earnings beat of 91 cents on revenues of $8.1 billion, just below Zacks estimates of $8.16 billion. The firm said it expects for 2010 earnings of $2.20 to $2.40 • Dover (NYSE:DOV) reported estimate-topping fourth quarter earnings of 55...
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LaBranche & Co Inc. To Buy 15M Shares At $4.60 A Share
Friday, January 29, 2010 - 9:08am | 113LaBranche & Co Inc. (NYSE: LAB) announced that it expects to commence a tender offer later today to purchase up to 15 million shares of its common stock at a price of $4.60 per share. The tender offer is expected to begin today, January 29, 2010, and to expire at 5:00 p.m., New York City time,...
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E*Trade to Report After the Bell
Wednesday, January 27, 2010 - 3:20pm | 173E*Trade Financial Corporation (NASDAQ: ETFC) is scheduled to report earnings after the bell today; analysts are expecting a loss of 4 cents a share on a revenue of $240.5 million. The other key metric that traders will be looking at is the performance of their loan portfolio, as this book of...
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Three Ring Circus
Wednesday, January 27, 2010 - 12:09pm | 407What a day in the market! This morning Treasury Secretary Tim Geithner and former Treasury Secretary Hank Paulson will be on the hot seat regarding the bailout of American International Group (NYSE: AIG). The members on Capital Hill are wondering and asking why AIG was bailed out? The perception...
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Benzinga’s Top Upgrades (MS, BBY, VPFG, CBE, VCBI)
Wednesday, January 27, 2010 - 10:00am | 264Morgan Stanley (NYSE: MS) was upgraded today by William Blair & Company from Market Perform to Outerform. Morgan Stanley is now trading at $27.50, 0.62% up in the pre-market session. Morgan Stanley closed at $27.33 in the previous trading session. In the last year, MS has gained over 46%....
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PJC Q4 Results Beats Consensus
Wednesday, January 27, 2010 - 9:24am | 44Piper Jaffray (NYSE: PJC) reported its Q4 EPS at $0.63 vs the consensus expectations of $0.53. The Q4 revenues for the quarter came at $132.9 million vs the consensus of $124.81 million. PJC’s shares moved up 1.11% to close at $48.14.
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More Checks for Biogen's Tysabri - Analyst Blog
Tuesday, January 26, 2010 - 6:26pm | 506Last week, the European Medicines Agency (EMEA) finalized a review of Biogen Idec’s (BIIB) Tysabri (natalizumab) and the risk of progressive multifocal leukoencephalopathy (PML) associated with the prolonged use of the drug. PML is a rare brain infection caused by the JC virus. The agency’s...
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January 27, 2010: Big Banks' New Money Pit
Tuesday, January 26, 2010 - 5:06pm | 428If you thought the recent tax juggernaut against Big Banks was huge, how about this? According to a New York Times article, e-mailed to me in part: The IRS is set to claim that "equity swaps" are in effect tax avoidance tactics leading to tax evasion schemes. The feds are scrutinizing financial...
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E.I. DuPont De Nemours & Company (DD) Update
Tuesday, January 26, 2010 - 3:26pm | 137Analysts at Morgan Stanley (NYSE: MS) have released a report on E.I. DuPont de Nemours & Company (NYSE: DD). Analysts see a 5% upside to the consensus 2010 EPS forecasts driven mainly by a strong global recovery. DuPont has raised the FY10 EPS guidance from $2.10-$2.40 to $2.15-$2.45 as the...
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Community Bank System Inc. (CBU) Price Target Raised
Tuesday, January 26, 2010 - 1:40pm | 157Analysts at Raymond James (NYSE: RJF) have raised their estimates and target price for Community Bank System Inc. (NYSE: CBU). Community Bank reported Q4 2009 EPS of $0.37 which was above the analysts’ estimate of $0.34. The bank posted strong revenue growth driven mainly by net interest margin...
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Dress Barn Inc. (DBRN) Price Target Raised
Tuesday, January 26, 2010 - 12:43pm | 215Analysts at Raymond James (NYSE: RJF) have raised the FY10 and FY11 EPS estimates and price target for Dress Bern Inc. (NASDAQ: DBRN). Dress Barn announced that 100% of its debt holders tendered their convertible notes to the offer made on December 23, 2009. The purchase of outstanding...
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MS And Orascom Construction Industries Form Infrastructure JV
Tuesday, January 26, 2010 - 11:37am | 141Morgan Stanley (NYSE: MS) has formed a joint venture with Orascom Construction Industries to develop and invest in infrastructure-related assets across the Middle East and Africa. Orascom Construction Industries has been focusing on projects such as transport and water treatment ever since Egypt...
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Acorda Drug Gets FDA Clearance - Analyst Blog
Monday, January 25, 2010 - 5:40pm | 530Recently, Acorda Therapeutics Inc. (ACOR) announced that the U.S. Food and Drug Administration (FDA) has cleared its oral drug Ampyra (dalfampridine) which aims to improve walking speed in patients suffering from multiple sclerosis (MS). The company expects to launch the drug in the United States...