All Posts Tagged With: "BLK"
(AAPL) A Busy Week Ahead – Earnings Preview
Earnings Preview 10/14/11 While the earnings season kicked off this past week, only 38 firms reported. The game really gets under way next week, when we will get reports from 336 firms, including 99 members of the S&P 500. Thus, by the end of the week we will have a very...
17Oct2011 | vitalstocks | 0 comments | Continued(BAC) Company News for August 29, 2011 – Corporate Summary
• According to reports, Bank of America Corporation (NYSE:BAC) has planned to sell at least half of its 10% stake in China Construction Bank • Dell Inc. (NASDAQ:DELL) announced the finalization of its acquisition of Force10 Networks, and Dell expects the purchase...
29Aug2011 | vitalstocks | 0 comments | Continued(BAC) Bank of America Announces Significant Lay offs
Bank of America Corp. (BAC) is planning to retrench 3,500 workers this quarter as the company is fraught with its $1 trillion problem-loan portfolio. The ongoing economic and market instability further compounded the quandary. Thousands of additional layoffs could ensue in the...
20Aug2011 | vitalstocks | 0 comments | Continued(AAPL) 2011 Second Quarter Earnings Preview – Detailed
Earnings Preview 7/15/11 Second quarter earnings season is now under way, but things really start to move into high gear next week. There will be 348 firms reporting, and 108 of those are in the S&P 500. By next Friday we should have a very good handle on how the overall...
18Jul2011 | vitalstocks | 0 comments | Continued(LM) Legg Mason Analyst Reiterates Shares at Neutral
We maintain our Neutral recommendation on Legg Mason Inc. (LM) based on strong fourth-quarter results. However, Legg Mason experienced a decline in its assets under management (AUM) in May on a sequential basis. This was preceded by a slight decline in April, but a modest increase...
3Jul2011 | vitalstocks | 0 comments | Continued(BAC) Bank of America Settlement to Hurt Second Quarter Earnings
Bank of America Corp. (BAC) has finally reached an agreement to pay $8.5 billion for its legacy Countrywide mortgage repurchase and servicing claims. The settlement is for a group of 22 investors who had suffered substantial losses for their investments in mortgage-backed securities...
30Jun2011 | vitalstocks | 0 comments | Continued(BAC) Bank of America Mortgage Claims Cost $8.5 Billion?
Bank of America Corp. (BAC) has hit the headlines again and this time for a wrong reason. The company is said to be reaching an agreement to pay $8.5 billion to a group of investors who had suffered substantial losses for their investments in mortgage-backed securities sold by...
29Jun2011 | vitalstocks | 0 comments | Continued(BAC) Bank of America Eyes Divesting CCB Stake
On Monday, Bloomberg reported that Bank of America Corporation (BAC) would sell a part of its holdings in China Construction Bank (CCB) later this year, in order to strengthen its capital. However, the company will continue to be a strategic investor in CCB, the world’s second...
22Jun2011 | vitalstocks | 0 comments | Continued(AMP) Ameriprise Financial Authorizes Share Buyback
Ameriprise Financial Inc. (AMP) announced that its board of directors has authorized a new share repurchase program, under which the company will be able to buyback its common shares worth $2 billion through June 28, 2013. Ameriprise stated that this new share repurchase authorization...
20Jun2011 | vitalstocks | 0 comments | Continued(ACOR) Company News for May 23, 2011 – Corporate Summary
• Shares of Morgan Stanley (NYSE:MS) were guided lower after FrontPoint Partners LLC decided to close some of its hedge funds in which Morgan Stanley holds a minor stake by this month • After a regulatory filing disclosed that the chief scientist of Akamai Technologies...
23May2011 | vitalstocks | 0 comments | Continued(AMP) Ameriprise Financial Earnings Beat on Higher Revenue
Ameriprise Financial Inc.’s (AMP) first quarter 2011 operating earnings of $1.35 per share beat the Zacks Consensus Estimate of $1.33. This also fared well against the prior-year quarter’s earnings of 85 cents per share. Operating results exclude after-tax market impact on...
3May2011 | vitalstocks | 0 comments | Continued(AIG) American International Group Buys Assets in Fed Auction
American International Group, Inc. (AIG) has bought assets in the New York Federal Reserve’s auction of mortgage backed securities, which was acquired by Fed from the AIG during the height of the financial crisis. Further, BlackRock Inc. (BLK) managed the sales, though...
13Apr2011 | vitalstocks | 0 comments | Continued(BX) Money Management Stocks Gaining Momentum – Investment Ideas
The big stock market rally of the last two years has been driven by massive capital inflows into equities. But a good portion of that volume has come on the back of large institutional players like hedge fund and pension managers that control big blocks of cash. But now, with...
1Apr2011 | vitalstocks | 0 comments | Continued(AIG) American International Group Denied RMBS Purchase by Federal Reserve Bank of New York
Finally, the Federal Reserve Bank of New York (FRBNY) turned down American International Group Inc.’s (AIG) offer to repurchase its $15.7 billion residential mortgage-backed securities (RMBS) on Maiden II. This is a special-purpose investment vehicle that the company had handed...
1Apr2011 | vitalstocks | 0 comments | Continued(ACXM) Company News for March 31, 2011 – Corporate Summary
• According to a report from Bloomberg, Valeant Pharmaceuticals (NYSE:VRX) made a hostile bid to acquire Cephalon (NASDAQ:CEPH) for about $73 a share in cash or about $5.7 billion, after earlier bids were rejected • Standard & Poor’s said the world’s biggest asset...
31Mar2011 | vitalstocks | 0 comments | Continued(ALL) Allstate Sues Bank of America on Mortgage-Backed Securities Purchase
On Monday, Allstate Corp. (ALL) filed a federal complaint against the mortgage giant, Countrywide Financial Corp., and 17 other defendants, alleging that the latter have sold $700 million of toxic investments in lieu of safe investments to Allstate in 2005, which later experienced...
30Dec2010 | vitalstocks | 0 comments | Continued(BAC) Bank of America and PNC Financial Services Group Sell BlackRock Stake
Bank of America Corporation (BAC) and PNC Financial Services Group Inc. (PNC) sold $8.3 billion of stock in the world’s largest money manager, BlackRock Inc. (BLK), on November 9. The largest stakeholders of BlackRock disposed of their share as this was not vital to their...
15Nov2010 | vitalstocks | 0 comments | Continued(AKS) Company News for November 9, 2010 – Corporate Summary
• Chevron (NYSE:CVX) announced plans to buy Atlas Energy (NASDAQ:ATLS) for $4.3 billion, or $43.35 per share • Bank of America (NYSE:BAC) and PNC (NYSE:PNC) sold $8.3 billion of BlackRock (NYSE:BLK) shares in a secondary offering priced at $163 per share, a 3.6% discount...
9Nov2010 | vitalstocks | 0 comments | Continued(AET) Company News for November 3, 2010 – Corporate Summary
• WellPoint (NYSE:WLP) reported estimate-topping third quarter earnings of $1.74 a share, up from Zacks estimates of $1.58, on revenues of $14.33 billion, above Zacks estimates of $14.22 billion • Aetna (NYSE:AET) topped projections with third quarter results of $0.84 a...
3Nov2010 | vitalstocks | 0 comments | Continued(CME) CME Group Adds Transparency – Begins OTC Swaps Clearing
In order to guard the financial system from defaults and ensure more transparency, CME Group Inc. (CME) has launched a new service for providing clearing services to the $400 million over-the-counter (OTC) interest rate swaps through its CME Clearing. Until now, such derivatives...
21Oct2010 | vitalstocks | 0 comments | Continued(AA) Stock Market News for October 20, 2010 – Market News
China’s surprise decision to raise interest rates took a toll on global markets as concerns mounted the move would slow the country’s economy and have a ripple-down effect. With the foreclosure crisis keeping investors on tenterhooks, Beijing’s decision to tighten rates...
20Oct2010 | vitalstocks | 0 comments | Continued(ABT) Company News for October 20, 2010 – Corporate Summary
• BlackRock (NYSE:BLK) topped sales and earnings projections with third quarter results of $2.75, $0.30 above Zacks estimates on revenues of $2.09 billion, up 83.5% and above Zacks estimates of $2 billion • Morgan Stanley (NYSE:MS) reported earnings of $0.23 ex-items, ahead...
20Oct2010 | vitalstocks | 0 comments | Continued(BLK) Company News for October 11, 2010 – Corporate Summary
• Microsoft (NASDAQ:MSFT) will unveil its Windows Phone 7 at a NY press event, initially thought to be offered on AT&T’s (NYSE:T) network • Reports say Google (NASDAQ:GOOG) is testing its driverless car • China’s CNOOC (NYSE:CEO) is undertaking its first...
12Oct2010 | vitalstocks | 0 comments | Continued(BA) Stock Market News for August 24, 2010
U.S. stocks dropped on Monday as economic worries prevailed over early-morning enthusiasm resulting from Hewlett’s Packard’s bid for 3Par. The takeover tussle for 3Par sent technology shares almost to the bottom of the decliners’ list as investors rushed to safe havens...
24Aug2010 | vitalstocks | 0 comments | Continued(BAC) Bank of America Announces Plan to Reduce BlackRock Holding Stake
On Sunday, the Wall Street Journal reported that Bank of America Corporation (BAC) is planning to sell its 34.1% (64.7 million common and preferred shares) stake in BlackRock Inc. (BLK). BofA is considering this sale as it does not view the BlackRock stake as a core earnings...
18Aug2010 | vitalstocks | 0 comments | Continued(LM) Legg Mason’s July Assets Under Management Higher
Legg Mason Inc. (LM) reported preliminary month-end assets under management (AUM) of $659.3 billion for the month of July, up 2.0% from $645.4 billion at the end of the prior month having declined marginally in June from May. The company has recorded a rise in AUM after two consecutive...
13Aug2010 | vitalstocks | 0 comments | Continued(SCHW) Charles Schwab Keeps ETFs Commission-Free
Charles Schwab Corp. (SCHW), a big player in the fast-growing exchange traded fund (ETF) market, does not intend to change its commission-free trading policy on its ETFs, Reuters reported on Tuesday. This commission-free trading along with low expense ratio-based core assets...
11Aug2010 | vitalstocks | 0 comments | Continued(SCHW) Schwab Schwab Launches New ETFs
Last week, Charles Schwab Corporation (SCHW) announced the launch of three new bond Exchange-Traded Funds (ETFs). This will increase the tally of Schwab’s total ETFs to 11. Previously the company had 8 Equity ETFs. The new bond ETFs are expected to offer coverage to short-term,...
9Aug2010 | vitalstocks | 0 comments | Continued(BLK) BlackRock Announces Plans to Double Mexican Asset Portfolio
On Wednesday, BlackRock, Inc. (BLK) said that the company intends to double its $13 billion asset portfolio in Mexico in the next three years. The company enjoys huge demand for Exchange Traded Funds (ETFs) by many foreign and institutional investors. Black Rock’s major business...
18Jun2010 | vitalstocks | 0 comments | Continued(LM) Legg Mason Plans $300 Million Stock Buyback
Baltimore-based money manager Legg Mason, Inc. (LM) announced on Monday that it will buy back its $300 million common stock in an accelerated share repurchase transaction. As a result, the transaction is expected to be completed earlier before the previously scheduled time. The...
26May2010 | vitalstocks | 0 comments | Continued