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Buffett Bounce Evaporates, All Eyes On The Bernank Tomorrow
Thursday, August 25, 2011 - 10:16am | 288The major stock indexes have declined faster than they rallied after the announcement of the Bank of America deal with angel investor Warren Buffett. At first, many traders and investors thought this was good news, now it is really turning out to be a negative report for the investing public. This...
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Intraday Glance At The S&P
Thursday, August 25, 2011 - 9:36am | 137The pop in equities across the board was, to say the least, short-lived, as the market quickly gave up its gains and went into negative territory. Most of this is do to mini-flash crash in the German markets. We have broken some support on the daily charts with the S&P breaking its trend-line...
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Three Reasons Why The BAC-Buffet Deal Is A Bad Omen
Thursday, August 25, 2011 - 9:34am | 299This morning, the stock market is in jubilee mode over the multi-billion dollar investment in Bank of America Corp.(NYSE: BAC) by Berkshire Hathaway's Warren Buffett. Once again, the man that has profited the most from government bailout's is coming to the rescue of another failing financial...
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Morning Market Movers
Thursday, August 25, 2011 - 8:47am | 100Collective Brands Inc (NYSE: PSS) shares advanced 26.65% to $13.02 at 9:45 am. PSS reported better-than-expected quarterly profit. Bank of America Corporation (NYSE: BAC) climbed 25.18% to $8.75. Warren Buffett's Berkshire Hathaway reported that it would invest $5 billion in Bank of America. John...
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Bank Of America Hits Paydirt For Now
Thursday, August 25, 2011 - 8:45am | 220Once again, it goes to show you how the market always knows the truth. Bank Of America Corp.(NYSE: BAC) gets Warren Buffet as an investor this morning. This investment that was made public around 9:10 am EST, it is causing a massive short squeeze in the Bank of America stock. BAC stock is trading...
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When All Else Fails, Turn To Warren
Thursday, August 25, 2011 - 8:34am | 724Warren Buffett did it again. Bank of America (NYSE: BAC) announced this morning it would be selling 50,000 preferred shares to Warren Buffett and Berkshire Hathaway (NYSE: BRK-A), worth $5 billion. Buffett, as is his customary deal, will also get warrants to purchase 700 million shares at an...
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Pre-Market Gainers; Bank of America up on Buffett Deal
Thursday, August 25, 2011 - 8:27am | 74Collective Brands (NYSE: PSS) +28.89% on upbeat earnings reported yesterday. Bank of America (NYSE: BAC) +20.17% after the announcement that Berkshire Hathaway will invest $5B in the company. Signet Jewelers (NYSE: SIG) +11.49% on upbeat earnings. Citigroup Inc. (NYSE: C) +9.67% on Bank of...
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Warren Buffet Berskshire Hathaway Invest $5 Billion in Bank of America (BAC)
Thursday, August 25, 2011 - 8:19am | 309Bank of America Corp. (BAC) stock is trading sharply higher in the last few minutes after it was announced that Warren Buffet's Berskhire Hathaway would be investing $5 billion into the company. Investors are seeing this move as a major vote of confidence for the company, as well as a much needed...
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Warren Buffet Swoops Down to Invest in Bank of America (BAC)
Thursday, August 25, 2011 - 8:17am | 492Bank of America (BAC) is flying up nearly 25% as it is being reported that Berkshire Hathaway is dropping $5B into the hole. Ironically, Buffet has been talking to Prez Obama the past few days (on 'job creation') - I am sure no coincidence. :) This is similar to the investment in Goldman Sachs (...
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Benzinga's Top Pre-Market Gainers
Thursday, August 25, 2011 - 6:52am | 117Collective Brands Inc (NYSE: PSS) soared 33.27% to $13.70 in the pre-market trading. PSS reported better-than-expected quarterly profit. Bank of America Corporation (NYSE: BAC) rose 2.86% to $7.19 in the pre-market session. BAC shares have dropped 44.79% over the past 52 weeks, while the S&P...
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Benzinga's Top ETF Decliners, August 24th (FSG, AGQ, TMF, FAZ)
Wednesday, August 24, 2011 - 6:30pm | 155FactorShares 2X: Gold Bull/S&P500 Bear (NYSE: FSG) led the decliners among the ETFs on Wednesday, with a decrease of 9.93%. FSG closed at $42.83, and it had a volume of 246K traded shares. ProShares Ultra Silver (ETF) (NYSE: AGQ) traded lower today, along with silver. AGQ fell 9.15%, and...
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Benzinga's Top ETF Gainers, August 24th (DZZ, ZSL, TMV, FAS)
Wednesday, August 24, 2011 - 6:16pm | 164PowerShares DB Gold Double Short ETN (NYSE: DZZ) spiked 10.37% today as gold traded sharply lower. DZZ closed at $4.79, and it had a volume of 20.05M traded shares. ProShares UltraShort Silver (ETF) (NYSE: ZSL) closed its second consecutive trading session higher. Today, it gained 8.88%, and it...
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Benzinga's Political Round Up, August 24, 2011
Wednesday, August 24, 2011 - 11:00am | 145Moody's downgraded Japan's credit rating to Aa3 from Aa2, citing "large budget deficits and the build-up in Japanese government debt since the 2009 global recession." Angela Merkel rejected claims that Greece should provide collateral for its bailout. New York AG Eric Schneiderman has been...
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Morning Gainers; Bank of America up Over 8%
Wednesday, August 24, 2011 - 9:25am | 123Sodastream International (NASDAQ: SODA) +5.42% on heavy volume. MGM Resorts International (NYSE: MGM) +7.46% after touching 52-week lows yesterday. Bank of America Corp (NYSE: BAC) +8.57% after Raymond James reiterates Strong Buy and $16 PT. ATP Oil & Gas Corporation (NASDAQ: ATPG) +6.45 on...
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With Meredith Whitney Defending BofA, Is It Time To Buy?
Wednesday, August 24, 2011 - 9:13am | 824Meredith Whitney, who has been notoriously bearish on the banks in the past, is singing a different tune this morning. Whitney, of Meredith Whitney Advisory Group, said that Bank of America Corp. (NYSE: BAC) does not have to raise capital immediately. In comments captured by Bloomberg, Whitney...