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Will Wall Street Ever Be the Same?
Friday, July 1, 2011 - 10:27am | 753By Todd Harrison The leaders coming out won't be the same as the leaders we're used to. The Wall Street Journal had an interesting article yesterday entitled Wall Street Turns the Gun on Itself, and I would like to add some observations from my perch. We've seen a seismic shift in the DNA of...
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Treasury Secretary Geithner Considering Exit at the End of the Year
Friday, July 1, 2011 - 6:21am | 232United States Treasury Secretary Timothy Geithner is considering an exit from his post later this year, people familiar with his thinking said on Thursday. Geithner is widely reported as being exasperated by grueling debt negotiations. The country faces a looming August 2 deadline to lift the debt...
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Complete Preparation for Summer Earnings Season 2011
Thursday, June 30, 2011 - 6:10pm | 545Is it really summer earnings season already? It seems like just yesterday we were navigating all the numbers and steering our portfolios into profitable waters. Yet, here we are! Alcoa (NYSE: AA) has been batting lead-off in New York seemingly since Bernie Williams was in diapers, and that's not...
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Market Teeming With Contrarian Opportunities
Thursday, June 30, 2011 - 4:16pm | 908For traders who are willing to take on substantial risk in order to score a huge payday, the recent volatility in financial markets along with whipsawing sentiment has provided a myriad of opportunities to take contrarian positions with huge upside. Let's start with the most obvious. Financials...
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Tim Geithner To Consider Leaving Post
Thursday, June 30, 2011 - 3:56pm | 92A report from Bloomberg just crossed that has sent shock-waves across Wall Street and one, quite frankly, no one expected, at least right now. U.S. Treasury Secretary Tim Geithner is said to be leaving the Treasury after the deal on the U.S. budget is done. No word on who would replace him, but...
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Thursday's Mid-Day Options Volume Leaders
Thursday, June 30, 2011 - 1:06pm | 84Here are today's mid-day options volume leaders… 1. Bank of America (NYSE: BAC) 125,541 contracts, 61.0% calls, 39.0% puts 2. Apple Inc. (NASDAQ: AAPL) 116,836 contracts, 49.0% calls, 51.0% puts 3. Ford Motor Co. (NYSE: F) 74,298 contracts, 82.9% calls, 17.1% puts 4. eBay Inc. (NASDAQ: EBAY) 71,...
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HomeAway Down Slightly After Sizzling Debut
Thursday, June 30, 2011 - 1:00pm | 104HomeAway, Inc. (NASDAQ: AWAY) shares are down slightly today, almost 2% after the company soared in its debut yesterday, gaining some 50% from its initial public offering price. Shares opened for trading yesterday at $36.10, after pricing its IPO at $27. This was at the high end of the range....
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Most Americans Still Want To Own A Home But Concerns Remain
Thursday, June 30, 2011 - 12:31pm | 608According to a New York Times article, Americans still remain committed to the dream of owning a home, but many doubt that the housing market represents a good investment anymore. Around 9 in 10 Americans say that homeownership is an important part of the American dream according to a new New York...
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CNBC Reporting Paulson Dumps Bank of America Block
Thursday, June 30, 2011 - 12:20pm | 51CNBC's Kate Kelly is reporting that John Paulson's Paulson & Co hedge fund has sold a large chunk of its Bank of America (NYSE: BAC) stock. At last check, shares of Bank of America were off 14 cents to $11.00, a loss of 1.4% on 130 million shares.
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Goldman Sachs Reiterates Buy and PT of $15 on Bank of America
Thursday, June 30, 2011 - 8:59am | 57Goldman Sachs reiterated its Buy rating on bank of America (NYSE: BAC). At the same time, Goldman left its price target on the company's stock unchanged at $15. On Wednesday, Bank of America ended the day at $11.14. In today's pre-market trading, its shares added 0.45% to their value to trade...
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UPDATE: Morgan Stanley Color on Bank of America PT Decrease
Thursday, June 30, 2011 - 8:31am | 140Morgan Stanley, which lowered its PT on shares of Bank of America (NYSE: BAC), is providing some color on the stock. “BAC's action to recognize private label reps & warranties losses is a large step towards cutting tail risk,” Morgan Stanley writes. “Yes, total estimated PL losses at $19B are...
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Citi Maintains Buy on Bank of America
Thursday, June 30, 2011 - 8:29am | 124Citi is out with its report today on Bank of America (NYSE: BAC), maintaining Buy. In a note to clients, Citi writes, "We rate the shares of Bank of America Buy/High Risk (1H). We believe BAC represents the best value in the group trading at a discount to the group on normalized earnings. BAC is...
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Morgan Stanley Lowers PT On Bank of America To $19
Thursday, June 30, 2011 - 6:18am | 28Morgan Stanley has lowered the price target on Bank of America (NYSE: BAC) from $20 to $19 and maintains its Overweight rating.
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Benzinga's Top ETF Decliners, June 29th (TVIX, FAZ, ZSL, SCO)
Wednesday, June 29, 2011 - 7:39pm | 196VelocityShares Daily 2x VIX Short Term ETN (NYSE: TVIX) dropped 9.84% on Wednesday, and it closed at $19.33. This was the third trading session in a row that TVIX closed lower. Direxion Daily Financial Bear 3X Shares(ETF) (NYSE: FAZ) traded 7.19% lower on the news that Bank of America Corporation...
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Benzinga's Top ETF Gainers, June 29th (FAS, AGQ, UCO, NUGT)
Wednesday, June 29, 2011 - 7:23pm | 204Direxion Daily Financial Bull 3X Shares(ETF) (NYSE: FAS) gained 6.89% on Wednesday, and it closed at $25.43. Citigroup Inc. (NYSE: C) traded 3.36% higher, and Bank of America Corporation (NYSE: BAC) added 2.96% in today's trading session. ProShares Ultra Silver (ETF) (NYSE: AGQ) traded higher...