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GE To Sell Its Stake In Garanti Bank (GE, STD)
Friday, February 26, 2010 - 5:53pm | 149General Electric Company (NYSE: GE) is planning to offload its stake in Turkish company Garanti Bank. GE (GE) currently holds a 20.85% stake in the bank. General Electric is currently in talks with Banco Santander (NYSE: STD) for the deal. The Turkish banking sector is in good health and the deal...
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General Electric (GE) To Sell $3.3 Billion Stake In Turkish Lender
Thursday, February 25, 2010 - 5:22pm | 103According to a Reuters source, General Electric (NYSE: GE) plans to sell its $3.3 billion stake in Turkey's Garanti Bankasi AS. General Electric bought 25.5% of the company from the Dogus Group, a Turkish investment firm, for $1.6 billion in 2005. General Electric lowered its share of the company...
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Ex-CDR Employee Pleads Guilty of Rigging
Thursday, February 25, 2010 - 12:59pm | 106According to Bloomberg, an ex-CDR employee pleaded guilty to charges of rigging investment contracts sold to local governments. CDR's founder David Rubin and two other employees were indicted in October by a federal grand jury for rigging contracts sold to municipalities, cities and other...
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General Electric (GE) Enters Japan's Smart Grid Market
Thursday, February 25, 2010 - 12:58am | 112General Electric Co. (NYSE: GE) said that is entering Japan's market for next generation, IT driven power distribution systems. General Electric, in partnership with Fuji Electric Holdings Co., plans to produce network capable power meters that can measure electricity usage but also have embedded...
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Millipore Corporation (MIL) Looks For A Buyer
Wednesday, February 24, 2010 - 7:13pm | 128Millipore Corporation (NYSE: MIL), the supplier of drug-development equipment, is on a look out for a buyer after it received a $6 billion takeover offer from Thermo Fisher Scientific, Inc. (NYSE: TMO). The company has apparently approached even General Electric Company (NYSE: GE) in its efforts...
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SEC Votes Against Short Sellers (GS, GE, SCHW)
Wednesday, February 24, 2010 - 5:27pm | 159The US Securities and Exchange Commission voted against short sellers today. The SEC commissioners voted 3-2 in favor of a restriction on short selling a stock that has fallen 10% from its previous closing. With this, the SEC has defied Goldman Sachs (NYSE: GS), and hedge funds such as Citadel,...
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Berkshire Hathaway (BRK.A) Credit Risk Drops To 17-Month Low Despite Downgrades
Tuesday, February 23, 2010 - 1:28pm | 293Bloomberg has reported that despite the downgrades to Berkshire Hathaway, Inc. (NYSE: BRK.A), investors showed their faith, and pushed the price of default protection on the firm. Berkshire credit-default swaps fell to their lowest level in 17 months, ending at 128.1 basis points yesterday in New...
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Benzinga's Sector Leaders (AIG, TXT, PACR)
Monday, February 22, 2010 - 12:18pm | 202Today the market is essentially unchanged, but has been swinging back and forth from the green to the red. Hot sectors for today’s trading session include: Financials – - American international Group (NYSE: AIG) up 8.62% - Amtrust Financial (NASDAQ: AFSI) up 5.92% - National Bank of Greece (NYSE...
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NBC (GE) Broadcasts Most Watched Olympics in 16 Years
Friday, February 19, 2010 - 8:53pm | 113According to NBC, the television network owned by General Electric Co. (NYSE: GE), the 2010 Vancouver Olympics have been the most viewed Olympic Games since the 1994 Winter Games. During the first week, more than 152 million American viewers have tuned in at one time or another to watch the...
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Buffet Reduced Stakes In P&G, J&J To Fund Acquisition (BRK.A, PG, JNJ, COP, GS, GE, BNI)
Wednesday, February 17, 2010 - 4:39pm | 157Warren Buffett’s Berkshire Hathaway, Inc. (NYSE: BRK.A) sold stakes in Procter& Gamble (NYSE: PG), and Johnson & Johnson (NYSE: JNJ) to fund the acquisition of Burlington Northern Santa Fe Corporation (NYSE: BNI). The company also sold 34 % of ConocoPhillips (NYSE: COP) to fund the largest...
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Benzinga's Intraday Sector Leaders
Wednesday, February 17, 2010 - 3:19pm | 162Sectors leading the market higher today include Conglomerates, Capital Goods and Healthcare. These leaders show that the market is being lead higher by companies that tend to be considered safer, than those that lead the market yesterday. (Such as the energy and material sectors) The market looks...
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Warner Bros (TWX) and Redbox Reach A Deal (CSTR) (WMT) (GE) (NWS) (NFLX)
Tuesday, February 16, 2010 - 8:44pm | 211The Time Warner Inc (NYSE: TWX) movie studio Warner Bros. has reached a deal with DVD rental service Redbox, owned by Coinstar, Inc. (Nasdaq: CSTR), to wait until 28 days after new DVD titles are released to begin renting them to customers. The deal is similar to the one that Warner Bros. reached...
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Chesapeake Midstream Plans IPO
Tuesday, February 16, 2010 - 3:50pm | 189Chesapeake Midstream Partners, a natural gas limited partnership formed by Chesapeake Energy (NYSE: CHK), is planning an IPO worth up to $345 million. An investment fund founded by Credit Suisse and General Electric (NYSE: GE) are also partners in Chesapeake Midstream. No date was announced for...
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Manufacturing Expands At A Faster Pace In The New York Area (GE)
Tuesday, February 16, 2010 - 2:52pm | 384Bloomberg reported that New York Fed. Bank’s general economic index rose to 24.9 in February from 15.9 in January. It beat expectations as economists estimated the index to reach 18 in February. This signals that manufacturing in the New York region has grown at the fastest pace in the last four...
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Company News for February 16, 2010 - Corporate Summary
Tuesday, February 16, 2010 - 10:38am | 250• Kraft (NYSE:KFT) posted better-than-expected fourth quarter earnings, with results 3 cents ahead of estimates at 48 cents, but revenues of $11 billion were just below $11.07 billion projections • Merck (NYSE:MRK) beat earnings and sales estimates and backed 2010 guidance, with adjusted earnings...