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NASDAQ Valuation To Improve With Resumption Of M&A And Share Buyback
Tuesday, March 23, 2010 - 3:22pm | 166Analysts at Susquehanna Financial maintain their "positive" rating on NASDAQ OMX Group (NASDAQ: NDAQ). The target price for NDAQ has been raised from $22 to $23. According to Susquehanna Financial, current cash equity trading at NDAQ stands at 8.6 billion shares per day for 1Q, which is short of...
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KFN Has Opportunities To Consistently Expand Its Earnings Stream
Tuesday, March 23, 2010 - 3:17pm | 142Analysts at FBR Capital Markets reiterate their "outperform" rating on KKR Financial Holdings (NYSE: KFN). The target price for KFN has been raised from $8 to $10. According to FBR Capital Markets, KFN may retain its focus on returning CLO 2007-1 to compliance by late-spring/early-summer. With an...
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Steel Dynamics Raises Debt - Analyst Blog
Friday, March 19, 2010 - 6:46pm | 812Steel Dynamics Inc. (STLD), the fifth largest US steel producer, has raised $350 million by issuing 8% senior notes due 2020 through a private offering. The company intends to use the proceeds from the notes to finance capital expenditure and acquisitions as well as debt repayment. As of December...
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John Thain Plans To Retain CIT Group’s (CIT) Aircraft Finance Unit
Thursday, March 18, 2010 - 5:52pm | 156Bloomberg reports that CIT Group Inc. (NYSE: CIT) CEO, John Thain, plans to retain the company’s aircraft finance unit during the next round of asset sales. Earlier, C. Jeffrey Knittel, President of CIT’s transportation finance business, said, “CIT Aerospace is going to be a core piece of CIT for...
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Are Investors Getting Ahead Of Themselves Investing In The Palladium ETF?
Thursday, March 18, 2010 - 1:10pm | 856Call me a worrywart, but palladium’s got me fretting. Platinum’s poorer relation has boomed since December 2008, when spot prices bottomed at $160 an ounce. But earlier this month, palladium’s parabolic rally stalled at $480. That’s what’s got me worried. Not the stall—it’s all about the word “...
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Strategists Warn About The Financial Sector As The Financial ETF Sets A New 52-Week High
Wednesday, March 17, 2010 - 6:49pm | 2087The rally in the Financial Select Sector SPDR Fund (XLF) on Wednesday means the exchange-traded fund has more than doubled in value from a year ago. The ETF set a new 52-week high of $15.97 a share on Wednesday. One year ago on March 17, 2009, the fund touched a session low of $7.87, according to...
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CIT Group Inc. (CIT) Maintains Buy Rating
Wednesday, March 17, 2010 - 3:43pm | 120Analysts Chris Brendler and Matthew Heinz at Stifel Nicolaus have released an update on CIT Group Inc. (NYSE: CIT). The company released its 10k after market close on Tuesday. According to analysts, there is a lot of new information in the company’s 10K and the financials are greatly complicated...
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TARP Repayments, Rating Upgrades Give Financials A Facelift (HIG, DFS, UNM, LNC, GGP, SPG, CIT)
Wednesday, March 17, 2010 - 3:06pm | 349The financial sector stood out in the Standard & Poor's 500 as it led the gains today. The sector was propelled by upgrades in rating for some insurers and the repayment of government bailouts. Some of the financial stocks that outshone today are: Hartford Financial Services Group (NYSE: HIG)...
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Jim Cramer Shares His Thoughts On FIRE, MO, NYX, GSM
Tuesday, March 16, 2010 - 8:24pm | 193CNBC Mad Money's Jim Cramer answered the questions of his fans, in front of the live audience, in the segment of his show called Lightning Round OT. Cramer said that he likes Sourcefire, Inc. (NASDAQ: FIRE) because it is a great company, and it had a good revenue growth. He likes the future of...
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Senator Dodd’s Newly Proposed Bill Will Hurt Financial ETFs
Tuesday, March 16, 2010 - 1:10pm | 2088“Although the future of reform legislation remains unclear, a recent bill proposed by Senator Christopher Dodd (D., Conn.) could potentially hinder the financial sector and its exchange traded funds,” Kevin Grewal Reports From The Street. Grewal goes on to say, “This new proposed reform, which is...
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Stock Market News for March 16, 2010 - Market News
Tuesday, March 16, 2010 - 9:58am | 426Nagging worries about the world economy kept buyers from making big moves yesterday but stocks managed to inch higher towards the close as Wal-Mart shares received a Citigroup analyst upgrade and financials strengthened after Christopher Dodd’s unveiling of a less-harsher-than-anticipated...
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Interactive Brokers Downgraded (IBKR)
Monday, March 15, 2010 - 2:43pm | 125Keefe Bruyette & Woods analyst Niamh Alexander downgraded shares of Interactive Brokers (NASDAQ: IBKR) today from "market perform" to "underperform." He cited the electronic broker's exposure to market volatility for the downgrade. Alexander also lowered his price target from $17 to $15....
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Market Roundup (PSYS, MHP, MCO, KCI, C, ZION, RF, HBAN, BCS)
Wednesday, March 10, 2010 - 3:29pm | 309Psychiatric Solutions (NASDAQ: PSYS) is said to be in talks to be acquired by Bain Capital, with the mental health facilities operator seeking a 25% premium. Although the talks are in an advanced stage, they could still fall apart. If all goes well, the deal is likely within a week. Connecticut has...
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CIT Group Receives “Outperformer” Rating (CIT)
Wednesday, March 10, 2010 - 2:06pm | 92Equity research firm Boenning & Scattergood has initiated coverage for CIT Group (NYSE: CIT). The company has been given an “Overachiever” rating by the research firm. CIT Group is expected to have EPS of 22 cents for 2010. The EPS estimates for 2011 and 2012 have been estimated at 50 cents,...
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Chinese Yuan v The U.S. Dollar: In The Case of Global Reserve Currency
Wednesday, March 3, 2010 - 11:00am | 2422By Dian L. Chu, Economic Forecasts & Opinions The practice of accumulating dollar reserves by the central banks has become more pronounced after the 1997 Asian financial crisis, when currency speculators hastened a balance of payments crisis in Thailand, Indonesia and South Korea by demanding...