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Calls Purchased on TCF Financial Corporation (TCB)
Monday, December 6, 2010 - 4:23pm | 129Shares of TCF Financial Corporation (NYSE: TCB) are lower on the session by 0.14%, currently trading at $14.32. The stock has been moving largely lower over the past six months, and is currently trading below the 200-day moving average. Options traders are buying calls on the name today. A short...
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TowneBank CompletesThe Bank of Currituck Acquisition for $8M
Monday, December 6, 2010 - 1:06pm | 168Hampton Roads based TowneBank (Nasdaq: TOWN) announced that, at the close of business on December 3, 2010, it completed the previously announced acquisition of the six banking offices of The Bank of Currituck, including all deposit accounts representing approximately $155 million. Selected loans...
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Intrigue in the Copper Market
Monday, December 6, 2010 - 12:38pm | 178I have a piece up at CNBC this morning about copper's recent run up and the sizable mystery buyer behind it. We're about to get not one, but two physically-backed copper ETFs. The speculator class is already abuzz with how these two instruments may affect the metal's pricing. Here's the story:...
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WSFS Acquires Christiana Bank & Trust From National Penn Bancshares
Monday, December 6, 2010 - 9:50am | 91WSFS Financial Corporation (Nasdaq: WSFS) today announced that it has completed the previously announced acquisition of Christiana Bank & Trust Company from National Penn Bancshares, Inc (Nasdaq: NPBC). In addition, all Christiana banking customers have been successfully converted to WSFS Bank'...
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First BanCorp Rejects Unsolicited Proposal from Doral
Monday, December 6, 2010 - 9:39am | 49First BanCorp (NYSE: FBP) announced today its rejection of an unsolicited acquisition proposal received from Doral Financial Corporation. On December 2, 2010, the Corporation received a letter from Doral proposing a stock-for-stock exchange valued at $0.30 for each share of the Corporation's common...
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A Peek Into The Market Before The Trading Starts
Monday, December 6, 2010 - 9:22am | 448Pre-open movers US stock futures are lower, this morning following the strong rise in stocks last week. Futures on the Dow Jones Industrial Average lost 11 points to 11,353 and S&P 500 futures slipped 3.4 points to 1,220. Nasdaq 100 futures dropped 7 points at 2,180. A Peek Into Global Markets...
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Synovus Announces Dividend of $.01
Monday, December 6, 2010 - 9:01am | 46Synovus Financial Corp. (NYSE: SNV) today announced that its Board of Directors has declared a dividend of $0.01 per share on the company's common stock. The dividend will be payable on January 3, 2011 to shareholders of record as of December 16, 2010.
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Seven Buffett Stocks Yielding Over 3%
Monday, December 6, 2010 - 2:01am | 452Warren Buffett doesn't believe in the proliferation of weapons of mass destruction, and is willing to put his mouth where his money is. He has put up $50 million in support of a proposal to set up an atomic fuel bank authorized by the United Nations nuclear agency. These funds are just a small...
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Shareholders of Comm Bancorp, Inc. Approve Merger With F.N.B. Corporation
Friday, December 3, 2010 - 5:02pm | 54F.N.B. Corporation (NYSE: FNB) and Comm Bancorp, Inc. (NASDAQ: CCBP) today announced that the shareholders of Comm Bancorp, Inc. have approved the Agreement and Plan of Merger between F.N.B. Corporation and Comm Bancorp, Inc.
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Lower Home Sales: The Tax Credit Dent - Analyst Blog
Friday, December 3, 2010 - 6:30am | 925So paperwork flaw can be let off the hook, it seems. We had earlier been worried that the chaos in foreclosure documentation would lead to lower home sales. Data brought out by RealtyTrac, the leading online marketplace for foreclosure properties, discloses that the sale of U.S. foreclosed...
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Lower Home Sales: The Tax Credit Dent - Analyst Blog
Friday, December 3, 2010 - 6:03am | 925So paperwork flaw can be let off the hook, it seems. We had earlier been worried that the chaos in foreclosure documentation would lead to lower home sales. Data brought out by RealtyTrac, the leading online marketplace for foreclosure properties, discloses that the sale of U.S. foreclosed...
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Some Long Positions May Need to Marry Puts 12-02-2010
Thursday, December 2, 2010 - 3:48pm | 1003Cusick's Corner The market continues to chug along and the Finance sector, XLF, continues to be the offensive leader. While the underlying action has been quite bullish, the option activity has been shifting to a 50/50 puts to calls positioning. What is notable and worth discussing again is that...
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Lower Home Sales: The Tax Credit Dent - Analyst Blog
Thursday, December 2, 2010 - 2:30pm | 925So paperwork flaw can be let off the hook, it seems. We had earlier been worried that the chaos in foreclosure documentation would lead to lower home sales. Data brought out by RealtyTrac, the leading online marketplace for foreclosure properties, discloses that the sale of U.S. foreclosed...
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Lower Home Sales: The Tax Credit Dent - Analyst Blog
Thursday, December 2, 2010 - 2:30pm | 925So paperwork flaw can be let off the hook, it seems. We had earlier been worried that the chaos in foreclosure documentation would lead to lower home sales. Data brought out by RealtyTrac, the leading online marketplace for foreclosure properties, discloses that the sale of U.S. foreclosed...
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Bullish Bank Breakout! (MI, FITB, RF, BAC)
Thursday, December 2, 2010 - 12:09pm | 143Banking names have been loathed by investors for practically all of 2010. But today, at least for one day, things are different. Banking stocks are surging today after pending home sales came in better than expected and the four-week average of new jobless claims fell to its lowest level since...