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Federal Reserve's Bailout of the Rich and Well-Connected
Tuesday, December 7, 2010 - 2:20pm | 202The conflicts of interest and policy controversies in the Federal Reserve's bailout of the financial system now include helping out millionaires, billionaires, foreign automakers, and companies whose executives sit on the board of directors of the U.S. central bank. General Electric (NYSE: GE),...
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GE Capital Not Expecting to Need Additional Capital from Parent Company
Tuesday, December 7, 2010 - 1:59pm | 26GE Capital says it is not expecting to need additional capital from its parent company, GE (NYSE: GE).
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Tuesday's Mid-day Options Volume Leaders (C, BAC, AAPL, MSFT, GE)
Tuesday, December 7, 2010 - 12:11pm | 116The overall market is moving to the upside this morning on the back of favorable tax concessions by the White House; currently, the S&P 500 (CBOE: SPX) is trading at $1,229.85, up by 6.73 points. Here are your mid-day options volume leaders… 1. Citigroup (NYSE: C) 1,234,265 contracts, 86.3%...
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News Summary (AET, AZO, MMM)
Tuesday, December 7, 2010 - 10:39am | 160Shares of Aetna Inc (NYSE: AET) gained about 0.2% after the company announced its plans to purchase Medicity for $500 million. Aetna said, “Medicity offers a broad range of products and services that enable health systems, hospitals, physician practices and health information exchanges to securely...
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GE to Invest in High Speed Rail - Analyst Blog
Tuesday, December 7, 2010 - 10:33am | 453General Electric Company(GE) announced an agreement with CSR Corporation Limited (CSR) to advance high-speed and other rail technologies in the U.S. The investment is of $50 million with the capacity to create 250 jobs by 2012, at the end of the first phase of the agreement. The collaboration...
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Walter Energy Plans To Acquire Western Coal
Tuesday, December 7, 2010 - 10:04am | 168Goldman Sachs has published a research report on Walter Energy, Inc. (NYSE: WLT) after the company announced on 12/3 its plans to acquire Western Coal. In the report, Goldman writes "The proposed acquisition could, at least partly: (1) reduce mine concentration risk; (2) improve WLT's 2011E reserve...
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3M Begins Market Purchases of Shares in Winterthur Technologies
Tuesday, December 7, 2010 - 9:47am | 79In connection with its previously announced agreement to acquire Winterthur Technologies AG pursuant to a public tender offer, 3M (NYSE: MMM) noted that, to the extent permissible under applicable law or regulation, 3M, its affiliates or brokers may from time to time directly or indirectly purchase...
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GE to Invest in High Speed Rail - Analyst Blog
Tuesday, December 7, 2010 - 9:46am | 453General Electric Company(GE) announced an agreement with CSR Corporation Limited (CSR) to advance high-speed and other rail technologies in the U.S. The investment is of $50 million with the capacity to create 250 jobs by 2012, at the end of the first phase of the agreement. The collaboration...
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Credit Suisse Comments On 3M Acquisition Of Winterthur
Tuesday, December 7, 2010 - 9:38am | 1513M (NYSE: MMM) announced that it was acquiring Winterthur Technologies through a public tender offer for CHF $62.00/share, or $448 mil and close to a 7% premium to its previous closing price. Winterthur is a leading player in the $14+ bil global abrasives market, providing abrasive grinding wheels...
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A Peek Into The Market Before The Trading Starts
Tuesday, December 7, 2010 - 8:48am | 548Pre-open movers US stock futures are higher, this morning as President Barack Obama agreed on a deal with the Republican Party in order to extend tax cuts for the coming two years for all Americans. Futures on the Dow Jones Industrial Average advanced 76 points to 11,429 and S&P 500 futures...
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3M Sees FY 2011 EPS of $5.90 to $6.10
Tuesday, December 7, 2010 - 8:19am | 1013M (NYSE: MMM) provided its 2011 sales and earnings outlook. The company anticipates sales of $29 billion to $30.5 billion, with organic sales volumes growing 5.5 to 7.5 percent, currency effects adding 1 to 2 percent and acquisitions adding 4 to 6 percent to sales for the year. 3M also expects...
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Hawk Corporation Acquired by Carlisle Companies, Inc. for $50 per Share
Monday, December 6, 2010 - 12:22pm | 82Harris Williams & Co. announces that Hawk Corporation (NYSE: HWK) has been acquired by Carlisle Companies, Inc. (NYSE: CSL) for $50.00 per share in an all-cash transaction, representing an equity value of approximately $413 million. Hawk was advised by a Harris Williams & Co. team led by...
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GE Announces Gas Turbine Agreement with Mass Global Investment
Monday, December 6, 2010 - 12:14pm | 65GE (NYSE: GE) today announced that it will provide gas turbine technology to Mass Global Investment Company, an independent power producer, to help meet northern Iraq's growing demand for electricity. Under the agreement, GE will supply three Frame 9E gas turbines and generators for the 375-...
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Walter Energy and Western Coal Reach Merger Agreement (WLT)
Monday, December 6, 2010 - 11:02am | 130Dahlman Rose issued its research report today on Walter Energy (NYSE: WLT) after WLT and Western Coal agreed to merget at the original proposed WTN price of CAD$11.50/share. In a note to clients, Dahlman Rose writes, "Walter will pay its original bid price of CAD $11.50 per WTN share consisting off...
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Vantage Data Centers Selects GE Intelligent Platforms for Building Management
Monday, December 6, 2010 - 10:35am | 84GE (NYSE: GE) Intelligent Platforms today announced that Vantage Data Centers, a new wholesale data center operator, has chosen the company's high availability mission critical solution to enable Vantage to deliver energy-efficient, scalable, data center solutions to enterprise customers. Vantage...