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CIT Group (CIT) Rebounds; Reports First-Quarter Profit After Bankruptcy
Tuesday, April 27, 2010 - 8:30am | 113CIT Group Inc. (NYSE: CIT), led by John A. Thain, posted a surprise profit in its first-quarter. The company surprised analysts, who expected a loss in the first-quarter, with a net income of $97 million, or $0.49 per share. The company attributes the positive performance to its focus on reducing...
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Fast Money Picks For April 27th (TKC, NDAQ, CMA, MCD)
Monday, April 26, 2010 - 7:20pm | 169Pete Najarian said on CNBC's Fast Money that McDonald's Corporation (NYSE: MCD) is a buy. McDonald's (MCD) reached a 52-week high, but it will continue to move up, thinks Pete Najarian. He owns call options in this stock. MCD fell today 0.18% and closed at $71.02. Joe Terranova said that investors...
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Stifel Nicolaus Lowers Estimates On NYSE Euronext, Reiterates Buy Rating (NYX)
Monday, April 26, 2010 - 2:41pm | 177Analysts from Stifel Nicolaus said that they are lowering their earnings estimates slightly for NYSE Euronext (NYSE: NYX) to reflect March volume trends. They lowered their 1Q10 EPS estimate by $0.01 to $0.55 (vs. consensus of $0.53). The firm reiterated their BUY recommendation on the shares and $...
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Stifel Nicolaus Lowers Estimates On Nasdaq OMX Group (NDAQ)
Monday, April 26, 2010 - 2:21pm | 125Analysts at Stifel Nicolaus released a client note today saying that they are lowering estimates for Nasdaq OMX Group (NASDAQ: NDAQ) prior to the company's earnings release on Friday of this week. Stifel reduced their 1Q10 estimates by a penny to $0.46 (consensus is $0.47) to reflect March volume...
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Interactive Brokers Offer Attractive Margin Loans; Barron’s (IBKR)
Monday, April 26, 2010 - 1:10pm | 100Interactive Brokers (NASDAQ: IBKR) is breaking the mould by advertising margin-lending rates as low as 0.5%. These rates are considerably below the published margin rates of other prominent online brokers. According to Barron’s, Interactive Brokers currently has $4.4 billion in outstanding margin...
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Financial Sector Inches Up To Add To Early Weekly Gains
Monday, April 26, 2010 - 5:21am | 449US financial stocks were nudged higher on Friday with the help of bank shares, exchange operators and impressive credit card earnings. Both the Financial Select Sector SPDR Fund and the SPDR KBW Bank Fund swung back and forth between negative and positive territory on Friday. While the Financial...
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Former Moody’s (MCO) Director Says That Firm Was Not Aware About Paulson Shorting Abacus
Saturday, April 24, 2010 - 11:33am | 114Eric Kolchinsky, a former Moody’s (NYSE: MCO) managing director, said that the firm was not aware that hedge fund manager John Paulson was taking short positions in derivative products, which were created by Goldman Sachs (NYSE: GS), rated by the agency. According t0 Reuters, the former Moody’s...
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Afternoon Market Roundup Palm (NASDAQ: PALM), Moody's (NYSE: MCO), Goldman (NYSE: GS), Morgan Stanley (NYSE: MS), Citigroup (NYSE: C)
Friday, April 23, 2010 - 3:21pm | 242Palm loses a suitor. Taiwan's HTC, which was reviewing the company books of Palm (NASDAQ: PALM), has reportedly decided not to place a bid for the company. The source close to HTC said that "there weren’t enough synergies to take the deal forward." This leave PALM with Lenovo (OTC: LNVGY.PK), which...
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ICE & CME Options Active On Rumors of CDO Trading (CME,ICE)
Thursday, April 22, 2010 - 2:21pm | 109Shares of Intercontinental Exchange and CME Group are surging in early afternoon trading on rumors CDO trading will be cleared on their exchanges. ICE (NYSE: ICE) is currently up 5 points on slightly higher than average volume, CME (NYSE: CME) is up 18 points on similar average volume. Options are...
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Pairs Trading Opportunity In The Exchange Stocks (CME, ICE, NDAQ, NYX)
Thursday, April 22, 2010 - 1:14pm | 383The looming specter of financial regulation, and in particular, the push for OTC derivatives to be traded on exchanges has offered up a very compelling pairs trade. If you are interested in taking advantage of this situation, consider buying shares of CME Group (NASDAQ: CME), while simultaneously...
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Subpoena To Moody's Triggers Fall In Financials (MS, MCO, WFC, STT, HBAN, KEY, FITB, MI, ZION, CMA)
Thursday, April 22, 2010 - 7:37am | 305Financial stocks, which had moved up in early trading on upbeat results from Morgan Stanley (NYSE: MS), closed lower yesterday, after a congressional panel probing the financial crisis subpoenaed credit rating agency Moody's Corp (NYSE: MCO). MCO had allegedly failed to comply with a request for...
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Subpoena To Moody's Triggers Fall In Financials (MS, MCO, WFC, STT, HBAN, KEY, FITB, MI, ZION, CMA)
Thursday, April 22, 2010 - 7:36am | 305Financial stocks, which had moved up in early trading on upbeat results from Morgan Stanley (NYSE: MS), closed lower yesterday, after a congressional panel probing the financial crisis subpoenaed credit rating agency Moody's Corp (NYSE: MCO). MCO had allegedly failed to comply with a request for...
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Top Narrow Based Indexes for April 21 (CYBS, ECPG, SHO)
Wednesday, April 21, 2010 - 3:47pm | 281US stocks were unsteady today after a rise of two days despite strong earnings from industry giants Apple Inc (NASDAQ: AAPL) and Morgan Stanley (NYSE: MS). At 12:32 p.m., Dow shed 30, or 0.27%, to 11,087.06, while the broader Standard & Poor's 500 index lost 6.74 or 0.56%. The Nasdaq composite...
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Stifel Nicolaus Says Goldman Fallout Could Help Exchanges (GS, ICE, CME)
Wednesday, April 21, 2010 - 2:46pm | 116In a client note released today, Stifel Nicolaus analysts wrote that "Friday's announcement of formal SEC charges being brought against Goldman Sachs (NYSE: GS) sent shockwaves through the markets, rekindling fears over regulatory and legal risk in the financial sector. In our view, any additional...
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Moody’s Corporation (MCO) Reports 26% Increase In First-Quarter Profit
Wednesday, April 21, 2010 - 8:11am | 137Moody’s Corporation (NYSE: MCO) reported today that its first-quarter profit increased by 26%. The rating agency reported a profit of $113.4 million, or $0.47 per share in the first-quarter, compared with a profit of $90.2 million, or $0.38 per share it reported for the same period last year....