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Financial Stocks Play Leader Of The Pack
Monday, August 8, 2011 - 10:08am | 268This morning, the major stock indexes have opened sharply lower to start the day. All of the leading sectors are trading down except the large financial stocks. The too big to fail financial stocks have actually rallied right from the opening bell. Traders should remember that the financial stocks...
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Citi Reiterates Buy on Bank of America
Monday, August 8, 2011 - 7:48am | 122Citi is out with its report today on Bank of America (NYSE: BAC), reiterating Buy. In its report, 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 highly...
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The Headache Continues: AIG to Sue Bank of America Over Mortgage Bonds
Monday, August 8, 2011 - 6:09am | 278Further extending a tiresome issue in many shareholders minds, American International Group (NYSE: AIG) is expected to file a civil lawsuit against Bank of America (NYSE: BAC) over hundreds of mortgage-backed securities. Citing three people familiar with the matter, the New York Times is reporting...
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Benzinga's Political Round Up, August 5, 2011
Friday, August 5, 2011 - 3:22pm | 72The California Attorney General has subpoenaed Citigroup (NYSE: C) over the selling and marketing of mortgage-backed securities in the state. The Federal Aviation Administration brought back 4,000 furloughed workers as the U.S. Senate voted to end the standoff over the agency's funding.
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Friday's Mid-Day Options Volume Leaders
Friday, August 5, 2011 - 12:09pm | 84Here are today's mid-day options volume leaders… 1. Bank of America (NYSE: BAC) 279,274 contracts, 47.8% calls, 52.2% puts 2. Apple Inc. (NASDAQ: AAPL) 194,925 contracts, 61.2% calls, 38.8% puts 3. Citigroup Inc. (NYSE: C) 186,318 contracts, 52.3% calls, 47.7% puts 4. Freeport McMoran (NYSE: FCX)...
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Financials and Technology Stocks Lead Market Decline in Early Trading
Friday, August 5, 2011 - 11:44am | 625Despite an early pop in all major U.S. Indexes on the heels of a better-than-expected jobs report, the market has given up its early gains and has sunk, once again, deep into negative territory. The S&P 500 (SPX), which had traded as high as 1218.11, is currently down 12.82 points (1.1%) to 1...
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Earnings Roundup
Thursday, August 4, 2011 - 8:58am | 1365General Motors Co (NYSE: GM) reported a strong rise in its second-quarter earnings. GM reported its quarterly earnings at $2.5 billion, or $1.54 per share, up from $1.3 billion, or $0.85 per share, in the year-earlier period. Its revenue surged to $39.4 billion from $33.2 billion. However, analysts...
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UPDATE: ING Reports 24% Rise In Q2 Net Profit
Thursday, August 4, 2011 - 4:37am | 47ING Groep NV (NYSE: ING) reported a 24% rise in its second-quarter net profit. ING's quarterly net profit surged to 1.51 billion euros ($2.16 billion). However, analysts were expecting a net profit of 1.44 billion euros. ING shares fell 0.51% to $9.85 in after-hours trading.
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Markets Close Green, These Are The Plays
Wednesday, August 3, 2011 - 1:23pm | 195The markets are attempting to recover from massive losses today. If the markets are able to squeeze out a flat close or slightly positive, many major stocks look to be amazing buys. The key to going long is the massive fear in the markets and the reversal signal of capitulation in the markets today...
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Benzinga's Political Round Up, August 3, 2011
Wednesday, August 3, 2011 - 12:29pm | 100The United States had its AAA rating confirmed by Moody's & Fitch yesterday after a deal was done to avoid a default. Bank of America (NYSE: BAC) is discussing a potential mass settlement for some of its struggling homeowners and providing a write down of principal. Congress has gone on...
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Which Goldman Stooge Will Replace Treasury Secretary Geithner?
Wednesday, August 3, 2011 - 12:13pm | 785What if the answer is "none of the above"? For the first time in millennia, it appears that the Treasury Secretary might (just might) come from somewhere other than Goldman Sachs (NYSE: GS). The history of ties between governments, in particular the Treasury Department, and Goldman Sachs goes back...
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Could Bank of America Actually Be Close To A Bottom?
Wednesday, August 3, 2011 - 12:08pm | 538Could Bank of America (NYSE: BAC) actually be close to to settling all of the mortgage issues that has plagued the Charlotte-based bank for years? Perhaps so, if you believe the Wall Street Journal. What has been rumored for weeks, may now actually start to take shape. Bank of America is having...
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Tuesday's Mid-Day Options Volume Leaders
Tuesday, August 2, 2011 - 12:30pm | 83Here are today's mid-day options volume leaders… 1. Bank of America (NYSE: BAC) 98,351 contracts, 82.3% calls, 17.7% puts 2. Apple Inc. (NASDAQ: AAPL) 96,064 contracts, 58.7% calls, 41.3% puts 3. General Electric (NYSE: GE) 51,094 contracts, 38.5% calls, 61.5% puts 4. NVIDA Corp. (NASDAQ: NVDA) 46...
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Georgia Peaches Bruised by Budget Cuts
Tuesday, August 2, 2011 - 10:52am | 463By Justin Rohrlich If Detroit couldn't have survived without General Motors (GM), if the failure of Merrill Lynch (BAC) or Citi (C) would have threatened the very existence of Wall Street and tax breaks for Exxon Mobil (XOM) and ConocoPhilips (COP) are “in the national interest,” then what to make...
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Austerity and the Economy
Tuesday, August 2, 2011 - 9:45am | 1163The debt deal in Congress is as good as passed. And yet stocks sold off hard yesterday. And today isn't shaping up to be much better. The reason, in my opinion, has to do with government spending cuts, austerity and what that means for economic growth. Yesterday, I asked the question "where will...