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J.P. Morgan to Pay More than $800 Million to Lehman Brothers (JPM)
Thursday, April 21, 2011 - 10:51pm | 153J.P.Morgan Chase (NYSE: JPM) agreed to pay more than $800 million to Lehman Brothers Holdings, it was announced Thursday. The settlement returns $755 million in cash and about $106 million in securities, a motion filed in the U.S. bankruptcy court in Manhattan shows. "The proposed settlement...
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Earnings preview for Ameriprise Financial (AMP)
Thursday, April 21, 2011 - 4:44pm | 204Ameriprise Financial (NYSE: AMP) is presenting its Q1 earnings results on Monday. Analysts will be expecting earnings per share to reach $1.33, significantly up from $0.81 a year ago. Revenues are projected to stand at $2.7bn. Ameriprise Financial provides financial planning, and products and...
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JPMorgan Chase Announces Resolution to Lawsuit with Military Families
Thursday, April 21, 2011 - 4:40pm | 158JPMorgan Chase (NYSE: JPM) and U.S. Marine Corps Capt. Jonathon Rowles announced today that they have agreed to resolve a class action lawsuit over financial protections due military customers under the Servicemembers Civil Relief Act. This settlement follows the recent announcement of several new...
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Earnings Preview for Kimberly Clark (KMB)
Thursday, April 21, 2011 - 4:32pm | 274Kimberly Clark Corporation (NYSE: KMB) will report its Q1 results on Monday, April 25, before the markets open. Analysts are expecting earnings per share to stand at $1.17, $0.01 below market expectations a week ago. Revenue is estimated at $4.99 billion. Kimberly-Clark Corporation is a global...
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UPDATE: J.P. Morgan and Lehman Brothers Inc. Trustee Reach Agreement on Return More Than $800M of Customer Assets
Thursday, April 21, 2011 - 3:21pm | 57JPMorgan Chase & Co. (NYSE: JPM) announced today that it has reached an agreement with the Lehman Brothers Inc. Trustee to return more than $800 million in Lehman customer assets to the LBI Estate for distribution to its customer claimants. The agreement will have no material financial impact...
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Under The Hood: A Value Proposition
Thursday, April 21, 2011 - 2:27pm | 510There is always going to be some debate in the world of investing between value and growth. Some argue that value stocks outperform growth stocks, but naysayers will question the time periods in which it takes for value plays to outshine growth stars. Years? Decades? Longer? Obviously, growth...
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What's Hot On TheStreet
Thursday, April 21, 2011 - 2:17pm | 289Here's what Benzinga's reading on our friend, TheStreet.com. What's Hot On TheStreet 5 Wedding Costs You Can Save On Weddings are a $74 billion industry in the U.S., but there are a lot of upsells out there just waiting for willing, lovestruck suckers to inflate that take. 10 Companies Going to...
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K Swiss Amend Loan Pact With Bank Of America -Bloomberg (KSWS, BAC)
Thursday, April 21, 2011 - 1:29pm | 31K Swiss (Nasdaq: KSWS) amends loan pact with Bank of America (NYSE: BAC) says Bloomberg.
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Morgan Stanley More Positive On Citigroup
Thursday, April 21, 2011 - 7:42am | 160According to Morgan Stanley, Citigroup (NYSE: C) Price target is up 25c and forward EPS up on faster reserve bleed driven by expectations for faster NPL shrinkage in Holdings vs prior est. Morgan Stanley said that total Citigroup NPLs are down 50% y/y in 1Q11, and down 24% q/q. “Expect decline to...
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Head and Shoulders 04-20-2011
Wednesday, April 20, 2011 - 5:32pm | 792Cusick's Corner The markets into the afternoon could not muster much of a push after today's impressive open. The S&P did chop along in a tight range, this is notable because I do not want to see a market that makes a move and then starts to look over its shoulders. I use the term shoulders...
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Zings Of The Day (BAC, AAPL, INTC)
Wednesday, April 20, 2011 - 3:51pm | 113Bank of America Corp (NYSE: BAC) said it's going to spin off its last large private equity fund, with more than $5 billion in assets. If a tree falls in the forest, and no one is around to hear it, does anyone care? Apple (NASDAQ: AAPL) is expected to report earnings tonight after the bell, and...
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Bad News For Goldman, Still Better Than Expected (GS, MS, MTU, BAC, JPM, LYG, BCS, RBS)
Wednesday, April 20, 2011 - 1:11pm | 497The Goldman Sachs Group (NYSE: GS) reported Q1 EPS of $1.56, nearly doubling the consensus estimate for a $0.82 per share profit. Revenues for the quarter were down 7% year-over-year to $11.89 billion, but were well above the consensus estimate of $10.18 billion. Lloyd C. Blankfein, Chairman and...
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Wells Fargo Clocks The Financial Sector
Wednesday, April 20, 2011 - 12:23pm | 247While the markets are surging higher today, financial stocks are weak on the back of earnings from Wells Fargo & Company (NYSE: WFC). The company reported net income that rose 51% but revenue fell. Revenue dropped to $20.3 billion from $21.5 billion. This was mostly due to lower mortgage fees...
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Swiss Cheese Rally
Wednesday, April 20, 2011 - 10:43am | 347This morning, the major stock indexes are soaring higher. The rally looks to be broad based as almost every stock on my screen is in the green. Most sectors are trading higher including technology, retail, energy, and mining. While everything looks really strong today there are some holes or...
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Bank of America to Spin Off Private Equity Fund (BAC)
Wednesday, April 20, 2011 - 6:09am | 125Bank of America (NYSE: BAC) is planning to spin off its private equity fund, a company spokesman said on Tuesday. BAML Capital Partners, with $5 billion in assets, will be made into its own unnamed firm. Bank of America spokesman Jerry Dubrowski said that it was determined that the business was "...