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Susquehanna Bancshares to Expand Pennsylvania Presence with Acquisition of Tower Bancorp
Monday, June 20, 2011 - 3:00pm | 195Susquehanna Bancshares, Inc. (Susquehanna) (NASDAQ: SUSQ) and Tower Bancorp, Inc. (Tower) (NASDAQ: TOBC) announced the signing of a definitive agreement under which Susquehanna will acquire all outstanding shares of Tower common stock in a stock and cash transaction. The transaction, unanimously...
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Financial Sector Dragging the Market
Monday, June 20, 2011 - 1:50pm | 449The Financials Sector is the weakest area of the S&P 500 in today's session, currently down 0.2% on the day. The weakest stocks currently in the S&P 500 Financials Sector are: 1) Goldman Sachs (NYSE: GS): Shares of Goldman Sachs are currently trading down 1.9% from Friday's close to $134....
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Puts Purchased on TriQuint Semiconductor, Inc.
Monday, June 20, 2011 - 12:50pm | 142Shares of TriQuint Semiconductor, Inc. (NASDAQ: TRQT) are lower on the session by 1.96%, currently trading at $10.52. The stock has been moving largely lower over the past four months and is currently trading below the 200-day moving average. Options traders are buying puts on the name today. A...
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Doug Kass Expects News From PNC
Monday, June 20, 2011 - 11:23am | 59Doug Kass tweeted that he expects PNC Financial (NYSE: PNC) to monetize its stake in Blackrock (NYSE: BLK) to deal with the new Basel III capital requirements. Shares of PNC are trading at $56.33, down $1.46 today.
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Puts Purchased on First Horizon National Corporation
Monday, June 20, 2011 - 10:44am | 122Shares of First Horizon National Corporation (NYSE: FHN) are lower on the session by 1.08%, currently trading at $10.11. The stock has been moving largely lower over the past six months and is currently trading below the 50-day and 200-day moving averages. Options traders are buying puts on the...
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News Summary
Monday, June 20, 2011 - 8:34am | 234Shares of PNC Financial Services Group Inc (NYSE: PNC) fell about 0.5% after the company announced its plans to acquire RBC Bank (USA), the US retail banking subsidiary of Royal Bank of Canada (NYSE: RY), for $3.45 billion, or $112 million discount to tangible book value. PNC projects the deal to...
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Hanmi Financial Corporation Announces $75M Common Stock Offering
Monday, June 20, 2011 - 7:31am | 124Hanmi Financial Corporation (Nasdaq: HAFC) today announced that it has commenced an underwritten public offering of approximately $75 million of its common stock. FBR Capital Markets & Co. will act as sole book-running manager in connection with this public offering. The Company expects to...
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Benzinga's Top Upgrades
Monday, June 20, 2011 - 7:11am | 140Ticonderoga upgraded LG Display Co Ltd (NYSE: LPL) from “sell” to “neutral.” LPL's shares closed at $13.12 on Friday. LG Display's trailing-twelve-month revenue is $23.00 billion. Analysts at Morgan Stanley upgraded BOK Financial Corporation (NASDAQ: BOKF) from “underweight” to “equal-weight.”...
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A Peek Into The Market Before The Trading Starts
Monday, June 20, 2011 - 6:24am | 441Pre-open movers US stock futures are lower this morning, after euro zone finance ministers postponed a decision on a Greek bailout package. Futures on the Dow Jones Industrial Average dipped 52 points to 11,886.00 and futures on the S&P 500 stock index fell 5.60 points to 1,260.40. Nasdaq 100...
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Morgan Stanley Upgrades BOK Financial Corporation to Equal-Weight, Raises PT to $60
Monday, June 20, 2011 - 6:09am | 109Morgan Stanley upgraded its rating on BOK Financial Corporation (NASDAQ: BOKF) to Equal-weight from Underweight. At the same time, Morgan Stanley raised its price target on the company's stock from $57 to $60. In a research report published today, Morgan Stanley states, "BOK Financial is a...
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PNC To Acquire RBC Unit For $3.45B
Monday, June 20, 2011 - 6:00am | 165PNC Financial Services Group Inc (NYSE: PNC) announced its plans to acquire RBC Bank (USA), the US retail banking subsidiary of Royal Bank of Canada (NYSE: RY), for $3.45 billion, or $112 million discount to tangible book value. PNC projects the deal to be accretive to earnings by 2013, or sooner...
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PNC Announces Agreement to Buy RBC Bank (USA)
Monday, June 20, 2011 - 5:51am | 259The PNC Financial Services Group, Inc. (NYSE: PNC) and Royal Bank of Canada (NYSE: RY) today announced that they have signed a definitive agreement for PNC to acquire RBC Bank, the U.S. retail banking subsidiary of Royal Bank of Canada, for $3.45 billion, or $112 million discount to tangible book...
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US Stock Futures Down On Greek Rescue Delay
Monday, June 20, 2011 - 5:34am | 345US stock futures are lower this morning, after euro zone finance ministers postponed a decision on a Greek bailout package. Futures on the Dow Jones Industrial Average dipped 60 points to 11,878.00 and futures on the S&P 500 stock index fell 6.60 points to 1,259.40. Nasdaq 100 futures dropped...
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Sterne Agee Reiterates Neutral and PT of $10 on CVB Financial Corporation
Monday, June 20, 2011 - 5:31am | 140Sterne Agee reiterated its Neutral rating on CVB Financial Corporation (NASDAQ: CVBF). At the same time, Sterne Agee left its price target on the company's stock unchanged at $10. In a research report published today, Sterne Agee states, "Although the company's fundamentals continue to...
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Morgan Stanley Upgrades BOK Financial To Equal-weight, Raises PT To $60
Monday, June 20, 2011 - 4:59am | 29Morgan Stanley has upgraded BOK Financial Corporation (NASDAQ: BOKF) from Underweight to Equal-weight and has raised the price target from $57 to $60.