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Benzinga’s News Roundup (PKE, PRGS, AOL, STT, SNTS, AMTD)
Tuesday, December 22, 2009 - 8:54am | 360Park Electrochemical Corp. (NYSE: PKE) today reported its third quarter net earnings of $7.16 million, or $0.35 a share, as compared to $2.93 million, or $0.14 a share, in the year-ago period. Sales were $46.08 million, from $49.16 million in the year ago period. Analysts on an average expected PKE...
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Holiday Party May Be Starting As Alcoa Inc (NYSE: AA), Amazon.com, Inc. (NasdaqGS: AMZN) Jump
Monday, December 21, 2009 - 3:41pm | 565The markets are moving higher today on the back of solid moves from Alcoa Inc (NYSE: AA), Amazon.com, Inc. (NasdaqGS: AMZN), Intel Corporation (NasdaqGS: INTC) and JP Morgan Chase Co (NYSE: JPM). Volume has started to trail off and is expected to starting around 10:30am ET each day this week. This...
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DirecTV (DTV) In Control
Monday, December 21, 2009 - 3:32pm | 151Morgan Stanley (NYSE: MS) resumed coverage of DirecTV Group (NASDAQ: DTV) with an Overweight rating, given the company’s strong position with the consumer and its distribution relationships. A price target of $39 has been assigned with a bull case target of $49, based on expected ARPU growth,...
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20 Predictions For 2010 By Doug Kass
Monday, December 21, 2009 - 3:10pm | 449Doug Kass of Seabreeze Partners released his 20 market/political/economic surprises for 2010. He covered the wide areas of people’s interests, he covered GDP to U.S. Dollars, Obama to Israel, gold to SEC. If his predictions are to be true, the world is going to see quite a striking bunch of...
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Goldman Sachs (GS) Lifts CarMax Inc (KMX)
Monday, December 21, 2009 - 2:34pm | 129Goldman Sachs (NYSE: GS) raised its earnings estimates for CarMax Incorporation (NYSE: KMX) as the company’s 3Q2009 results showcased resilient used car profitability and strong cost controls. The EPS of $0.33 vs. a loss of $0.09 a year earlier sharply exceeded expectations, with the beat driven...
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New PBM President Good For Caremark (CVS)
Monday, December 21, 2009 - 2:26pm | 146CVS Caremark (NYSE: CVS) has announced a new PBM President in Per Lofberg and Morgan Stanley (NYSE: MS) expects share prices to react positively to this news. Lofberg has over 30 years of relevant experience, including at Medco (NYSE: MHS) which was spun off by Merck (NYSE: MRK). In addition, the...
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OncoGenex (OGXI) Deal With Teva (TEVA) Matters
Monday, December 21, 2009 - 2:22pm | 115OncoGenex Pharmaceuticals has announced its global license and collaboration agreement with Teva (NASDAQ: TEVA) to develop and commercialize OGX-011. The agreement makes OncoGenex eligible for $60 million upfront and up to $370 million in milestone payments related to regulatory targets, apart from...
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Near Term Price Weakness in Goldman Sachs (GS)
Monday, December 21, 2009 - 1:30pm | 98Atlantic Equities reduced its Q4 revenue estimate for Goldman Sachs (NYSE: GS) to $9.3bn from $11.6bn and EPS estimates to $5.3 from $6.0. The fall in revenues by 25% in Q4 can be attributed to a sharp slowdown in fixed income and equity trading activities. The recent slowdown has left Goldman’s...
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Dick Bove Says Goldman Sachs Will Be Subject of A Negative Bloomberg Magazine Story
Monday, December 21, 2009 - 11:33am | 53Rochdale Securities' Dick Bove is saying that Goldman Sachs (NYSE: GS) will be the subject of a cautious story in the upcoming edition of Bloomberg magazine. Bove says the story will attack Goldman Sachs for how it uses various strategies and tactics to avoid taxes.
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Company News for December 21, 2009 - Corporate Summary
Monday, December 21, 2009 - 10:17am | 205• Pfizer (NYSE:PFE) purchased rights to Athersys' (NASDAQ:ATHX) stem-cell therapy for treatment of inflammatory bowel disease • Terex (NYSE:TEX) plans to sell its mining business for $1.3 billion in cash to Bucyrus International (NASDAQ:BUCY) • Sanofi-Aventis (NYSE:SNY) said it agreed to buy...
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E*TRADE FINANCIAL Names Robert Druskin Chairman and Interim CEO
Monday, December 21, 2009 - 9:21am | 222The Board of Directors of E*TRADE FINANCIAL Corporation (NASDAQ: ETFC) today announced that it has named Lead Independent Director Robert Druskin Chairman and interim Chief Executive Officer of the Company effective December 31, 2009. Mr. Druskin, who has served on E*TRADE FINANCIAL Corporation’s...
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Revlimid To Boost Celgene (CELG) EPS In 2010-12
Friday, December 18, 2009 - 4:59pm | 85Analysts at Morgan Stanley (NYSE: MS) have rated Celgene Corporation (NASDAQ: CELG) as overweight. The main catalyst for this view is trial results of Revmilid in post transplant settings. Celgene also may reap benefits of pomalidomide’s potential in refractory myeloma. Celgene is focused on the...
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Mortimer To Oversee Hedge-Fund Relationships At UBS (UBS)
Friday, December 18, 2009 - 4:40pm | 74UBS AG (NYSE: UBS) has hired Patrick Mortimer, a former Morgan Stanley (NYSE: MS) US prime-brokerage head, to oversee hedge-fund relationships. Patrick will join as a senior relationship manager in the bank’s prime brokerage unit, the unit that loans securities and cash to hedge funds. Mortimer...
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Constellation Brands, Inc (STZ) Removed from Americas Sell List
Friday, December 18, 2009 - 3:56pm | 135Goldman Sachs Group, Inc. (NYSE: GS) upgrades Constellation Brands, Inc. (NYSE: STZ) to Neutral from Sell as they believe US wine challenges are now appropriately discounted. Analyst Lindsay Drucker Mann of Goldman Sachs Group, Inc says she continues to expect that Constellation Brands, Inc. will...
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Leading Indicators Confirm Improved Performance From Accenture (ACN)
Friday, December 18, 2009 - 3:27pm | 119Goldman Sachs (NYSE: GS) is upbeat about Accenture’s (NYSE: ACN) prospects as leading indicators confirm an improved environment. The macro background and IT spending environment are also favorable. Accenture has increased its pipeline and headcount plan for 2010, apart from seeing an increase in...