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Market Bubbles then Fizzes 06-21-2011
Tuesday, June 21, 2011 - 3:30pm | 1058Cusick's Corner Plop, Plop, Fizz, Fizz, - oh what a rally relief it is. The market has bubbled up and now pulled off the highs going into the Midday. The Housing data came in a little better than expected this morning but the market into the Midday hit resistance, 1291 on the S&P Continuous...
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UPDATE: J.P. Morgan Securities Reaches Settlement with SEC Regarding CDOs
Tuesday, June 21, 2011 - 1:27pm | 340JPMorgan Chase & Co. (NYSE: JPM) announced today that one of its U.S. broker-dealer affiliates, J.P. Morgan Securities LLC, has agreed to a settlement with the U.S. Securities and Exchange Commission resolving the SEC's inquiry regarding certain collateralized debt obligations the firm sold...
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Keys: Stock Market Rally Ahead Of Fed
Tuesday, June 21, 2011 - 12:43pm | 274The markets are in rally mode today as positive comments from the Federal Reserve tomorrow afternoon are expected. It appears the markets may even be hoping for some QE3 news. Ben Bernanke and the rest of the Federal Reserve are meeting to discuss policy. They will announce it tomorrow. The SPDR S...
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Tuesday's Mid-Day Options Volume Leaders
Tuesday, June 21, 2011 - 11:59am | 85Here are today's mid-day options volume leaders… 1. Apple Inc. (NASDAQ: AAPL) 171,156 contracts, 63.5% calls, 36.5% puts 2. Research In Motion (NASDAQ: RIMM) 99,984 contracts, 40.8% calls, 59.2% puts 3. Citigroup Inc. (NYSE: C) 68,818 contracts, 73.6% calls, 26.4% puts 4. Bank of America (NYSE:...
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Financial Stocks Hold All The Cards
Tuesday, June 21, 2011 - 10:09am | 216One of the most important sectors in the stock market is the financial stocks. These stocks seem to lead the markets. At this time, J.P. Morgan Chase & Co.(NYSE: JPM) is probably the most important financial stock in the entire stock market. This leading financial stock is trading lower by 0.08...
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Scott Nations Suggests An Option Strategy In Citigroup (C)
Monday, June 20, 2011 - 7:36pm | 141CNBC Options Action's Scott Nations suggested on the show that investors should consider an options strategy in Citigroup Inc. (NYSE: C). He said that he the banks might move sharply soon, but he is not sure in which direction, and that is why he wants to buy the July 38 straddle in Citigroup (C...
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Still A Fragile Market
Monday, June 20, 2011 - 3:43pm | 383In nearly every trading session over the past six weeks, the major stock market indexes have struggled into the close of the trading session. Four out of the past six Friday's have been sell offs. This is a very unusual occurrence and a change in character for the major stock indexes. Even today,...
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2008 Redux: The 2011 Crisis of the Interconnected Sovereign Complex
Monday, June 20, 2011 - 12:46pm | 1056By Peter Atwater Whether it is global leaders, foreign financial institution executives, rating agency professionals, or investors, they are all reading from the same 2008 playbook. Mark Twain was wrong. History really does repeat. Looking at the financial headlines over the past week, it is...
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Monday's Mid-Day Options Volume Leaders
Monday, June 20, 2011 - 12:29pm | 85Here are today's mid-day options volume leaders… 1. Apple Inc. (NASDAQ: AAPL) 216,007 contracts, 57.4% calls, 42.6% puts 2. Research In Motion (NASDAQ: RIMM) 105,851 contracts, 41.1% calls, 58.9% puts 3. Bank of America (NYSE: BAC) 104,560 contracts, 70.9% calls, 29.1% puts 4. Harbin Electric Inc...
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Benzinga's Political Roundup June 20, 2011
Monday, June 20, 2011 - 12:12pm | 111The European Union has postponed its portion of the bailout payment to Greece as it tries to get more conditions attached to it. The Federal Reserve Bank of New York and the Office of the Comptroller of the Currency are increasing the number of examiners who regulate the banks such as J.P....
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Bank of America Down Despite Potential Stake Sale
Monday, June 20, 2011 - 10:14am | 145Shares of Bank of America (NYSE: BAC) are down more than 1% today, despite news that the company may discuss selling part of its $21 billion stake China Construction Bank Corp. to raise its capital before Basel III standards take place. Three people briefed on the plans said that the largest U.S....
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Citi Maintains Buy on JP Morgan Chase
Monday, June 20, 2011 - 8:49am | 145Citi is out with its report today on JP Morgan Chase (NYSE: JPM), maintaining Buy. In a note to clients, Citi writes, "We rate the shares of JP Morgan Chase Buy/Medium Risk (1M). We view JP Morgan as a well-managed franchise and believe its strong capital position and recent acquisitions of Bear...
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Morgan Stanley Changes PT On BAC, C, JPM
Monday, June 20, 2011 - 7:04am | 60Morgan Stanley has changed the price targets on the following companies: Bank of America (NYSE: BAC) Overweight, From $21 to $20 Citi Group (NYSE: C) Overweight, From $60 to $58 J.P. Morgan Chase & Co (NYSE: JPM) Overweight, From $61 to $60
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PNC Moves On RBC Unit For $3.45B
Monday, June 20, 2011 - 1:19am | 214PNC Financial Services (NYSE: PNC), the Pennsylvania-based regional banking giant, may announce as early as Monday that it will acquire the retail banking business of Royal Bank of Canada (NYSE: RY) for $3.45 billion in cash and stock, Bloomberg News reported, citing sources with knowledge of the...
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BRB, just regulating some regulations
Monday, June 20, 2011 - 12:01am | 672Unfortunately, life just isn't fair sometimes, and not getting exactly what you want can really ruin your day. I know I find myself throwing some pretty embarrassing temper tantrums when things don't fall in my favor. Well, that's the way that large banks like JPMorgan Chase (NYSE: JPM) are...