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U.S. Attorney Aims Low With Trading Probe
Monday, November 29, 2010 - 12:22pm | 338If I were a fly on the wall at Preet Bharara household's Thanksgiving dinner, I can imagine what I'd have seen amid the turkey, cranberry sauce and fixings. I can see it now: The U.S. attorney for the southern district of New York, having taken absolutely no steps against any of the major players...
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Merck KGaA MS Drug Faces Glitch - Analyst Blog
Monday, November 29, 2010 - 11:18am | 526Merck KGaA (MKGAF) recently announced that the US Food and Drug Administration (FDA) extended the review period of cladribine by three months. The prescription drug user free act date, which was earlier set for November 28, 2010, has now been postponed to February 28, 2011. The regulatory body...
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Wal-Mart to Buy 51% of Massmart - Analyst Blog
Monday, November 29, 2010 - 11:00am | 569Wal-Mart Stores Inc (WMT) today announced its intention to acquire a 51% stake in the South African based consumer goods distributor Massmart Holdings Ltd. Wal-Mart has offered Massmart $2.4 billion (17 billion rand) or 148 rand per Massmart share, reflecting a 19.2% premium over the company's 30...
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optionsXpress Declares Special Dividend of $4.50
Monday, November 29, 2010 - 9:40am | 57optionsXpress Holdings, Inc. (Nasdaq: OXPS) today announced that its Board of Directors has declared a cash dividend of $4.50 per share on the Company's outstanding shares of common stock. The total amount of the dividend is approximately $259 million. The dividend is payable on December 27, 2010...
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Mary Meeker Moving To Kleiner Perkins
Monday, November 29, 2010 - 9:38am | 51Business Insider reports that Morgan Stanley (NYSE: MS) tech analyst Mary Meeker is leaving the New York based investment bank to go to Kleiner Perkins. The report first appeared in the Wall Street Journal.
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Jefferies Adds James P. Fadel As Head of European Structured Debt Capital Markets
Monday, November 29, 2010 - 9:23am | 237Jefferies Group (NYSE: JEF) today announced the addition of James P. Fadel, who joins as a Managing Director and Head of European Structured Debt Capital Markets in London. He will be responsible for the origination, execution and syndication of structured products, including mortgage- and asset-...
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Paul Deninger to Join Evercore Partners as a Senior Managing Director
Monday, November 29, 2010 - 9:21am | 325Evercore Partners Inc. (NYSE: EVR) announced today that Paul Deninger has agreed to join the firm's Investment Banking business as a Senior Managing Director. Mr. Deninger, who will be based in Boston and San Francisco, will focus on advising companies in the Technology and Clean Technology Sectors...
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Wal-Mart to Buy 51% of Massmart - Analyst Blog
Monday, November 29, 2010 - 5:31am | 569Wal-Mart Stores Inc (WMT) today announced its intention to acquire a 51% stake in the South African based consumer goods distributor Massmart Holdings Ltd. Wal-Mart has offered Massmart $2.4 billion (17 billion rand) or 148 rand per Massmart share, reflecting a 19.2% premium over the company's 30...
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Chasing Value: Banks, Barron's & Buffett
Friday, November 26, 2010 - 11:08am | 247Banks could face another mortgage crisis, according to Barron's, if they are forced to buy back subprime, Alt-A and options adjusted home mortgage securities they've sold prior to the financial crisis, mostly as mortgage-backed securities. Already some buyers, like Fannie Mae (FNMA) and Freddie Mac...
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Janus Faces Insider Trading Probe - Analyst Blog
Wednesday, November 24, 2010 - 6:34pm | 614Janus Capital Group Inc. (JNS) has hogged the headlines for the wrong reason. In a filing with the Securities and Exchange Commission (SEC), the company has revealed that it has received an enquiry from the authorities in an insider trading investigation on Wall Street. While Janus has expressed...
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Janus Faces Insider Trading Probe - Analyst Blog
Wednesday, November 24, 2010 - 12:54pm | 614Janus Capital Group Inc. (JNS) has hogged the headlines for the wrong reason. In a filing with the Securities and Exchange Commission (SEC), the company has revealed that it has received an enquiry from the authorities in an insider trading investigation on Wall Street. While Janus has expressed...
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Company News for November 24, 2010 - Corporate Summary
Wednesday, November 24, 2010 - 10:30am | 777• Eli Lilly (NYSE: LLY) received FDA approval for its topical solution drug Axiron, for testosterone replacement therapy in men • Tiffany (NYSE: TIF) reported estimate-beating third quarter earnings of $0.43 a share, ahead of Zacks projections of $0.37, on a 14% revenue jump to $681.7 million that...
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Benzinga's Top Downgrades (JCG, ROVI, SWS, BHP)
Wednesday, November 24, 2010 - 9:59am | 146J Crew Group Inc (NYSE: JCG) was downgraded by Robert W Baird from "outperform" to "neutral." JCG's stock closed at $43.99 yesterday. J Crew's 52-week trading range is $30.06-$50.96. Rovi Corporation (NASDAQ: ROVI) was downgraded by JP Morgan from "overweight" to "neutral." ROVI's shares closed at...
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Company News for November 24, 2010 - Corporate Summary
Wednesday, November 24, 2010 - 5:15am | 777• Eli Lilly (NYSE: LLY) received FDA approval for its topical solution drug Axiron, for testosterone replacement therapy in men • Tiffany (NYSE: TIF) reported estimate-beating third quarter earnings of $0.43 a share, ahead of Zacks projections of $0.37, on a 14% revenue jump to $681.7 million that...
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Positive Data on Acorda's Ampyra - Analyst Blog
Tuesday, November 23, 2010 - 6:36pm | 450Acorda Therapeutics Inc. (ACOR) recently published late-stage data on its multiple sclerosis (MS) treatment Ampyra (dalfampridine) in Annals of Neurology. The trial data demonstrated that a significant proportion (42.9%) of MS patients on Ampyra experienced an improvement in walking speed as...