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Cutting Taxes to Create Jobs is a Lie
Friday, July 29, 2011 - 12:39pm | 1441For thirty years, Republicans have behaved exactly like dolls with pull strings. Tug on the back, and they repeat, without fail, "we need to cut taxes on businesses so they can create jobs". Likewise, for thirty years, Democrats have tried to tell Republicans that this is a terrible idea. "Reality...
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3M Files Lawsuit Against Group of Its Former Distributors for False Rebate Claims
Thursday, July 28, 2011 - 2:00pm | 1043M (NYSE: MMM) filed a lawsuit today in the U.S. District Court of Minnesota against a group of its former distributors doing business as Universal Medical Distributors for Racketeer Influenced and Corrupt Organizations Act (RICO) violations, fraud, civil conspiracy, negligent misrepresentation,...
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Earnings Roundup
Thursday, July 28, 2011 - 8:42am | 1660Kellogg Co (NYSE: K) reported a 14% rise in its second-quarter profit. Kellogg reported its quarterly profit at $343 million, or $0.94 per share, up from $302 million, or $0.79 per share, in the year-ago period. Its sales climbed 11% to $3.39 billion. However, analysts were expecting a profit of $0...
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UPDATE: Morgan Keegan Raises PT on Teleflex to $65
Thursday, July 28, 2011 - 8:15am | 59Morgan Keegan is out with its report today on Teleflex (NYSE: TFX), raising its PT from $64 to $65. In a note to clients, Morgan Keegan writes, "We maintain our Market Perform rating, although our price target moves to $65 from $64 following the increase in our 2012 EPS estimate." Shares of TFX...
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Morgan Keegan Raises PT On Teleflex To $65
Thursday, July 28, 2011 - 7:06am | 28Morgan Keegan has raised the price target on Teleflex Incorporated (NYSE: TFX) from $64 to $65 and maintains its Market Perform rating.
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UPDATE: Tyco Reports Stronger-Than-Expected FQ3 Profit
Thursday, July 28, 2011 - 6:48am | 76Tyco International Ltd (NYSE: TYC) reported upbeat fiscal third-quarter profit on Thursday. Tyco's quarterly net income surged to $358 million, or $0.76 per share, from $256 million, or $0.51 per share, in the year-earlier period. Its adjusted earnings from continuing operations came in at $0.85...
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UPDATE: Siemens Reports 67% Drop In FQ3 Profit
Thursday, July 28, 2011 - 5:33am | 64Siemens AG (NYSE: SI) reported a 67% decline in its fiscal third-quarter profit. Siemens reported its quarterly profit at 462 million euros. Its total revenue climbed 2.4% to 17.84 billion euros. Its new orders climbed 20% to 22.9 billion euros. Analysts were expecting a net profit of 949 million...
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Earnings Scheduled For July 28
Thursday, July 28, 2011 - 5:02am | 559Astrazeneca PLC (NYSE: AZN) is expected to report its Q2 EPS at $1.80 on revenue of $8.19 billion. Exxon Mobil Corporation (NYSE: XOM) is projected to report its Q2 EPS at $2.33 on revenue of $121.39 billion. Bristol-Myers Squibb Company (NYSE: BMY) is estimated to report its Q2 EPS at $0.55 on...
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Mad Money Lightning Round: Cramer Likes Freeport-McMoRan
Thursday, July 28, 2011 - 4:31am | 227On CNBC's Mad Money, Jim Cramer said during the Lightning Round that Alcoa (NYSE: AA) is an “undervalued company that's running on multiple cylinders. It's cheap." Cramer believes that Walter Industries (NYSE: WLT) “wants to bring out value; so it might be a takeover target. I like it." For...
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UPDATE: United Capital Corp. Announces Transition to the OTC Pink Tier
Wednesday, July 27, 2011 - 4:49pm | 61United Capital Corp. (NYSE: AFP) announced today that its common stock will cease trading on the NYSE Amex and transition to the OTC Pink tier, operated by OTC Markets Group, effective with the opening of business on Thursday, July 28, 2011. The Company's new symbol for trading on the OTC Pink tier...
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Options Brief: Tyco International
Wednesday, July 27, 2011 - 10:27am | 78Shares of Tyco International (NYSE: TYC) are lower on the session by 2.80%, trading at $45.08. Overall put volume is now running at 3.04x the daily average, with 2% of all puts traded being purchases on the offer. 3,234 contracts have traded on the session so far. Tyco International Ltd. is a...
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Playing Chicken 07-26-2011
Tuesday, July 26, 2011 - 6:46pm | 1029Cusick's Corner We finished right on the lows and the bureaucrats in Washington still think that it is ok to continue to play Deficit Chicken. The pullback in the Buck was something that caught my eye and explained the run in the Commodities, XLE/DBC/FCX, so these are the sectors that investment...
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What's The Dealio? 07-26-2011
Tuesday, July 26, 2011 - 3:08pm | 1112Cusick's Corner This is frustrating, choppy action in the markets today and when they start acting like this you really want to keep your focus and patience on positioning. Gold traders, GLD, are the most frustrated, this market looks like it should just turn over but just has not turned south,...
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General Electric Cites Rare Earth Shortage
Tuesday, July 26, 2011 - 10:50am | 75According to a tweet by @markflowchatter, General Electric (NYSE: GE) is citing a shortage of rare earths. The General Electric report, which can be accessed here, is considered bullish for MolyCorp (NYSE: MCP).
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Earnings Roundup
Tuesday, July 26, 2011 - 9:32am | 1635Lockheed Martin Corp (NYSE: LMT) reported a 10% decline in its Q2 profit. Lockheed Martin's quarterly net earnings dropped to $742 million, or $2.14 per share, from $824 million, or $2.22 per share, in the year-earlier quarter. Its net sales increased to $11.55 billion from $11.28 billion....