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Michael Lewitt At The Value Investing Congress
Tuesday, October 12, 2010 - 3:16pm | 280Michael Lewitt spoke at the Value Investing Congress and said to go long gold, shorting bonds, and buying bank loans are the best ways to profit in this market. He recommended using (NYSE: TBT) to short bonds, and KKR Financial Holdings LLC (NYSE: KFN) as a way to play bank loans. Lewitt went on...
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Michael Lewitt Is Bullish On KKR Financial Holdings
Tuesday, October 12, 2010 - 3:07pm | 43At the Value Investing Congress, Michael Lewitt, Harch Capital Management said he is bullish on KKR Financial Holdings (NYSE: KFN). He believes in KKR Financial's strong management, its business model and KKR's ability to execute.
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Trading and Banking Trends Mixed in October, Deutsche Bank Reports
Tuesday, October 12, 2010 - 9:26am | 229In this week's Capital Markets Compass, Deutsche Bank reports that thus far the overall banking trends in October have been mixed. And that's just the beginning of the less-than-stellar news. “Trading has also been mixed thus far in October with a pickup in U.S. options, Euro Cash, and U.S. cash...
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Moody's Says GM Is Junk
Monday, October 11, 2010 - 2:39pm | 105Moody's Investors Service, a division of Moody's Corporation (NYSE: MCO) has joined Fitch and S&P, rating the debt of General Motors at junk, just weeks before the company is set to come back to the public markets. GM had filed for bankruptcy and was bailed out by the U.S. government, and...
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Third Quarter Ends on a Strong Note for Business & Learning Services, Piper Jaffray Reports
Monday, October 11, 2010 - 10:50am | 153In a report on Business & Learning Services, Piper Jaffray states that September topped off a very strong quarter in the debt markets, with near record issuance volumes in the high yield market and investment grade volumes that made two year highs. “These trends suggest to us upside in 3Q...
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ICE Announces Launch of 35 New Energy and Emissions Contracts
Monday, October 11, 2010 - 10:43am | 119IntercontinentalExchange (NYSE: ICE) today announced the launch of 30 new cleared OTC energy contracts for North American power, natural gas liquids and global oil products. ICE also announced the introduction of five new futures and options contracts on ICE Futures Europe, including ICE ECX ERU...
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Jefferies Reiterates Hold Rating on NYSE Euronext (NYX)
Monday, October 11, 2010 - 9:50am | 132Jefferies & Company is out with a research report this morning, where it reiterates its Hold rating on NYSE Euronext (NYSE: NYX); it has a $32.00 price target on the stock. The analysts cited the company's recent announcement of Q3 volumes, which has forced them to lower EPS estimates across...
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Deutsche Bank Expects Good Things From NASDAQ OMX (NDAQ)
Monday, October 11, 2010 - 7:01am | 158Deutsche Bank expects strong results from NASDAQ OMX Group, Inc. (NASDAQ: NDAQ), as the exchange operator reports earnings. It has a Hold rating on shares. In the research note sent to clients, Deutsche Bank states, "We expect mostly weak results for the exchanges this quarter, with weakness...
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Volkswagen AG (ETR:VOW) – Bringing Sexy Back?
Thursday, October 7, 2010 - 12:22pm | 2157Volkswagen may not be all “sexy” just yet, but the German car maker is making an impressive push. VW hopes to not only conquer America's GM and Ford Motor (NYSE:F) (Ford has been gaining ground in 2010) but to surpass Toyota Motor (NYSE:TM) as the number-one selling vehicle in the world by 2018,...
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Afternoon Market Update (FITB, NYX, BKE, ALK, JBLU, LUV)
Thursday, October 7, 2010 - 10:56am | 225The Financial Select Sector SPDR Fund (XLF) moved up about 0.26% after the Labor Department reported better-than-expected data on US jobless claims. Shares of Fifth Third Bancorp (NASDAQ: FITB) moved up after analysts at Oppenheimer initiated coverage of FITB with an “outperform” rating. Shares of...
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Citigroup Reiterates Buy Rating on CME Group Inc. (CME)
Thursday, October 7, 2010 - 10:02am | 182Citigroup is out with a research report this morning, where it reiterates its Buy rating on CME Group Inc. (NASDAQ: CME); it has a $350.00 price target on the stock. The Citi analysts cited a recent meeting with company management, where they found that management's tone was positive on the long-...
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CME Group Reports Slow Summer, Volume Rebounds Late
Tuesday, October 5, 2010 - 9:23am | 119CME Group (NYSE: CME) reported slow trading volumes over the summer but have recently picked up. Jefferies released a report that discussed trading volumes across the majority of product segments continue to exhibit positive year-over-year growth and open interest remains elevated. Longer term, a...
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CIT to Redeeml $860 Million in Series B Notes
Tuesday, October 5, 2010 - 8:30am | 99CIT Group Inc. (NYSE: CIT) today announced that it will redeem all of its outstanding 10.25% Series B Second Lien Notes maturing in 2015 and 2016. The Company has provided a redemption notice to the trustee and intends to complete the redemption on November 4, 2010. The aggregate principal amount...
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Intercontinental Exchange Higher On Futures Volumes, Raises Estimates
Tuesday, October 5, 2010 - 8:19am | 135While Intercontinental Exchange's (NYSE: ICE) trading volumes within ICE's core futures markets continue to grow y/y, the growth rates are moderating. Jefferies views the company as well positioned to benefit from the changing regulatory environment. However, at ~17x our 2011 EPS, the shares are...
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CME Reports 15% Decline In 3Q
Tuesday, October 5, 2010 - 7:59am | 134JP Morgan has published a research report for CME Group, Inc. (NASDAQ: CME) reporting on September volumes and August results. In the report, JP Morgan writes "CME generated overall q-o-q volume decline of 15% in 3Q10, with particular weakness in equities (19%), interest rates (17%), and FX (16%)...