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UPDATE: Bank of America Announces Agreement on Legacy Countrywide Mortgage Repurchase and Servicing Claims
Wednesday, June 29, 2011 - 7:10am | 203Bank of America Corporation (NYSE: BAC) today announced that it has reached an agreement to resolve nearly all of the legacy Countrywide-issued first-lien residential mortgage-backed securitization repurchase exposure, representing 530 trusts with original principal balance of $424 billion. The...
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Words with Billions? Online Social Media Company Zynga to File for IPO
Wednesday, June 29, 2011 - 6:45am | 331Online social media company Zynga, popular for its interactive games like Words with Friends and FarmVille, is looking to raise between $1.5 billion and $2 billion in an initial public offering, a source familiar with the matter said. An IPO filing could be submitted to the SEC as soon as...
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Bank of America Upgrades Citigroup To Buy, $53 PT
Wednesday, June 29, 2011 - 6:34am | 26Bank of America has upgraded Citigroup (NYSE: C) from Neutral to Buy and has established a $53 price target.
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Blowing Bubbles
Wednesday, June 29, 2011 - 1:01am | 628Blowing bubbles is great fun for the young, and young at heart. There is something magical about watching a perfect bubble float off a wand and carelessly meander through the air like a mystical orb. You can lose yourself in that bubble, you can get lost in its beauty, but the magic only lasts for...
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BofA Nears $8.5 Bil Payout
Tuesday, June 28, 2011 - 7:00pm | 594. Bank of America (BAC) rose after hours on a report it has reached a settlement to claims by major investors, including the New York Fed, that they lost money on mortgage-backed securities packaged and sold during the real estate market meltdown. If it receives final approval, the $8.5 bil...
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Benzinga's After Hours Gainers
Tuesday, June 28, 2011 - 5:53pm | 165Among the stocks that are moving higher in the after hours session on Tuesday are Sealy Corp. (NYSE: ZZ), Bank of America (NYSE: BAC), Celanese Corp. (NYSE: CE) and Janus Capital Group (NYSE: JNS), Cirrus Logic (NASDAQ: CRUS), and Glu Mobile (NASDAQ: GLUU). Sealy (ZZ) has jumped 6.40% to $2.66...
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Alert: Stock Market May Fade Ahead Of Greek Vote
Tuesday, June 28, 2011 - 11:28am | 193The markets have floated higher today on the back of a slowly weakening U.S. Dollar. The SPDR S&P 500 ETF (NYSE: SPY) is trading at $129.06, +1.12 (+0.88%). The markets have just put in an intra day topping tail. A topping tail is a bearish signal as it usually signals a reversal. In addition...
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Tuesday's Mid-Day Options Volume Leaders
Tuesday, June 28, 2011 - 11:26am | 85Here are today's mid-day options volume leaders… 1. Apple Inc. (NASDAQ: AAPL) 110,045 contracts, 59.0% calls, 41.0% puts 2. Bristol Myers Squibb Co. (NYSE: BMY) 62,915 contracts, 94.5% calls, 5.5% puts 3. Bank of America (NYSE: BAC) 61,112 contracts, 56.7% calls, 43.3% puts 4. Citigroup Inc. (NYSE...
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Major Financial Stocks Fail To Participate In Rally
Tuesday, June 28, 2011 - 10:46am | 209The large major financial stocks are not rallying higher with the major stock indexes this morning. This leading sector continues to struggle on the charts. Most of the leading financial stocks remain in sharp down trends. Traders can simply look at a chart of the Financial Select Sector SPDR (NYSE...
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Sectors to Watch 06-27-2011
Monday, June 27, 2011 - 8:13pm | 907Cusick's Corner While the market held onto the midday gains, the volume was light and the Greek austerity vote is still a headline risk in the market during this pre-vacation week. So while we watch the potential headlines overseas, do not lose sight of other barometers, .i.e. the offensive...
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Citi exec accused of inside job
Monday, June 27, 2011 - 6:47pm | 67A former vice president is suspected of embezzling $19.2 mil from Citigroup (C) in a series of secret money transfers. From May 2009 to Dec. 2010, Gary Foster illegally transferred Citi cash into his private account at another bank, federal prosecutors said, calling it the "ultimate inside job." He...
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Window Dressing 06-27-2011
Monday, June 27, 2011 - 3:25pm | 1003Cusick's Corner Window dressing -- the grind to the upside could be a combination of some end of the quarter window dressing with a twist of shorts being squeezed. The market has again held critical support, 1256 on the S&Ps, and found legs to bounce, plus Tech is leading again. Now I take...
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More News On Dodgers Bankruptcy
Monday, June 27, 2011 - 1:52pm | 104More news is coming out from the L.A. Dodgers bankruptcy. Michelle Steele, Bloomberg's sports reporter, tweeted that Frank McCourt went to 7 different lenders for debtor-in-possession (DIP) financing before ultimately receiving the $150 million loan from J.P. Morgan's Highbridge Capital. Earlier...
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Stocks Shrug Off Greece, Deficit Uncertainty
Monday, June 27, 2011 - 1:35pm | 149(TheStreet) -- Technology, financials and conglomerates were leading stocks higher as austerity plan negotiations in Greece and deficit reduction talks in Washington heat up. The Dow Jones Industrial Average was up by 105 points, or 0.9%, at 12,040. The S&P 500 was higher by 10 points, or 0.8...
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Mondays Mid-Day Options Volume Leaders
Monday, June 27, 2011 - 12:11pm | 85Here are today's mid-day options volume leaders… 1. Bank of America (NYSE: BAC) 97,850 contracts, 60.7% calls, 39.3% puts 2. Apple Inc. (NASDAQ: AAPL) 96,719 contracts, 55.5% calls, 44.5% puts 3. Microsoft Corp. (NASDAQ: MSFT) 55,021 contracts, 78.1% calls, 21.9% puts 4. General Electric Co. (NYSE...