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Stock Market News for July 19, 2010 - Market News
Monday, July 19, 2010 - 9:46am | 497Consumers’ growing pessimism about the economic recovery shook investors’ confidence on Friday, sending major averages off at least 2%, even as some companies reported better-than-anticipated quarterly numbers. Financials led on the downside after some big names from the sector posted weaker-than-...
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Piper Jaffray Looks For Credit to Improve (AGO, MTG, RDN)
Monday, July 19, 2010 - 9:36am | 241Piper Jaffray is out with a research report this morning, where it looks for credit to improve this month. They said, “Looking ahead to earnings for the mortgage insurance and financial guaranty space, results hinge on June's credit performance within the portfolios of risk at each of the companies...
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Basic (But Dismal) Math - Analyst Blog
Monday, July 19, 2010 - 8:45am | 1765Let’s start with the basic definition of GDP (Y). It is equal to the sum of spending by the consumer (C), business investment (I), government (G) and the difference between exports (X) and Imports (M). The last two items taken together are the trade deficit (X-M). Thus the change in GDP, or...
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Nymagic Moves Up 21% On Acquisition News
Thursday, July 15, 2010 - 1:40pm | 80Nymagic Inc (NYSE: NYM) shares were up more than 21% after the company announced that it will be acquired by ProSight Specialty Insurance Holdings Inc for $25.75 a share, or $230 million. The New York insurance-holding company’s shares have fallen 5.36% over the past quarter and gained 26.98% so...
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Nymagic Posting Huge Gains (NYM, VRNM, CLNE)
Thursday, July 15, 2010 - 10:31am | 105Currently, the Dow Jones Industrial Average has fallen 121 points during Thursday's trading session. A number of stocks, however, are rising on heavy volume. Verenium Corporation (NASDAQ: VRNM) has gained 72.76% after the company announced that it has extended a joint development program with BP (...
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Market Waiting On JPM Earnings 07-14-2010
Wednesday, July 14, 2010 - 6:11pm | 873Cusick’s Corner The market stayed in a choppy consolidation range after the release of mixed economic data and FOMC revisions on GDP. The market is waiting for JPM earnings tomorrow which are due out around 7:30am ET. One important note -- the last time both Intel and JPM Chase beat earnings was...
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MBIA Jumps Over 10% As Bruce Takes Stake
Tuesday, July 13, 2010 - 9:48am | 79Shares of MBIA Inc (NYSE: MBI) moved up about 10% today in early market trade after the news of top fund manager Bruce Berkowitz taking an 11% stake in the company hit the market. While MBI’s shares have lost 20.62% over the past three months, they have gained 14.62% over the past week. MBI was...
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Benzinga's After Hours Gainers (MBI, AA, ESV, FCX)
Monday, July 12, 2010 - 6:42pm | 211Among the notable stocks that are moving higher in the after hours trading session are MBIA (NYSE: MBI), Alcoa (NYSE: AA), Ensco (NYSE: ESV) and Freeport-McMoran (NYSE: FCX). MBIA (MBI) shares have risen 7.31% to $6.90 after Bruce Berkowitz's Fairholme Capital Management disclosed an 11.1% stake...
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Protection Purchased on XL Group (XL)
Monday, July 12, 2010 - 4:30pm | 148Shares of XL Group plc (NYSE: XL) ended the session higher by 0.29%, trading at $17.45. The stock has been trading largely lower over the past three months and is in a technical downtrend. The stock is now sitting at the technical sell signal. Options traders were echoing that bearish tone today...
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Proassurance Corp. To Perform Well: Receives Buy Rating (PRA, ACAP)
Friday, July 9, 2010 - 2:39pm | 124Proassurance Corp. (NYSE: PRA) is likely to benefit from the acquisition of its competitor American Physicians Capital Inc. (NASDAQ: ACAP). In a report released by Wunderlich Securities, the research firm has claimed that Proassurance Corp. (PRA) is among the best underwriters in the medical...
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ACE Climbs On Inclusion In S&P 500 Index
Friday, July 9, 2010 - 10:33am | 81ACE Limited (NYSE: ACE) shares jumped after Standard & Poor's 500 posted that the company will be replacing Millipore Corp. (NYSE: MIL) in the S&P 500 Index. While the Swiss insurance holder has lost 2.03% over the past six months, it has gained 1.44% over the past week. ACE’s shares were...
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Stocks Hitting 52-Week Highs (ACAP, STST, STAA, ROVI)
Thursday, July 8, 2010 - 2:44pm | 179American Physicians Capital Inc (NASDAQ: ACAP) shares surged 28.02% to create a new 52-week high of $40.66. The Doctors Company has signed a deal to acquire ACAP for a total price of about $386 million, or $41.50 per share, in cash. Argon ST Inc (NASDAQ: STST) shares gained 0.14% to create a new 52...
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ACAP Climbs On Its Acquisition Deal
Thursday, July 8, 2010 - 1:31pm | 104Shares of American Physicians Capital Inc (NASDAQ: ACAP) jumped after The Doctors Company signed a deal to acquire ACAP. The East Lansing, Michigan-based company will be acquired by The Doctors Company for a total price of about $386 million, or $41.50 per share, in cash. The deal price represents...
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Mid-Day Market Movers (BYFC, SNBC, INS, ACAP)
Thursday, July 8, 2010 - 11:44am | 138Broadway Financial Corporation (NASDAQ: BYFC) jumped 47.27% to $3.24 by 10:44 am. BYFC has reported a 49% year/year rise in its Q1 earnings. Sun Bancorp Inc (NASDAQ: SNBC) shares surged 38.23% to $4.99. Ross will acquire a 24.9% stake in the parent company of Sun National Bank by buying $100...
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Stocks To Watch For July 7 (LCC, TSLA, DAL, ABK)
Wednesday, July 7, 2010 - 6:31am | 202Some of the stocks that may grab investor focus today are: US Airways (NYSE: LCC) reported a 2.9% rise in its June traffic to 5.59 billion revenue passenger miles, up from 5.43 billion revenue passenger miles in the year-ago period. LCC’s capacity also gained 2.8% y/y to 6.43 billion available seat...