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Jefferies Group, Inc. (JEF)

Jefferies Group, Inc. (NYSE: JEF) today announced record net revenues for the third quarter of $700 million, up 155% from the prior year. The company also recorded net income to common shareholders of $86 million, versus a loss of $31 million in the prior year
Net earnings per common share (diluted)were $0.42, which matches a record, versus a loss of $0.18 per share in the prior year.

Oct 20 · 10:17:00 AM · Source: Business Wire
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by Larry Etter

Prudential Financial (PRU)

Prudential Financial, Inc. (NYSE:PRU) announced today that it is launching a major advertising campaign highlighting the company’s solutions for businesses facing a variety of challenges in the post-financial crisis environment. The multimillion dollar advertising campaign centers around Prudential answering an “SOS” call from corporations looking for a partner with the financial strength and solutions for their retirement plans, asset management and group life insurance needs.

Oct 16 · 2:01:00 PM · Source: Business Wire
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by Larry Etter

American Express (AXP)

American Express reported on Thursday through a regulatory filing that for the quarter that ended September 30, the 30-day delinquency rate was 4.1%, according to preliminary data, down from 4.4% in the second quarter.
The 30-day delinquency rate measures borrowers at least a month behind their card payments. The 30-day delinquency rate, a key gauge of future losses, is important because higher delinquencies force issuers to squirrel away capital to reserve for potential losses; ultimately, companies must write off loans if customers can't pay.

Oct 16 · 11:07:00 AM
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by Michael Oliveto

Bank of America (BAC)

Bank of America today reported a third-quarter 2009 net loss of $1.0 billion. After deducting preferred dividends of $1.2 billion, including $893 million related to dividends paid to the U.S. government, the diluted loss per share was $0.26. Those results compared with net income of $1.2 billion, or diluted earnings per share of $0.15, during the year-ago period. Through the first nine months of the year, the company had net income of $6.5 billion, or $0.39 per share after preferred dividends, compared with $5.8 billion, or $1.09 per share a year earlier.
"The company's core performance was impacted by a number of non-core items," said Chief Executive Officer and President Kenneth D. Lewis. "The market's improved view of Bank of America's credit cost the company due to non-cash marks on liabilities. "Excluding those items, our revenue continued to hold up well," Lewis said. "Obviously, credit costs remain high, and that is our major financial challenge going forward. However, we are heartened by early positive signs, such as the leveling of delinquencies among our credit card customers."

Oct 16 · 8:08:00 AM · Source: Press Release
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by Rich Pike

Travelers (TRV)

Travelers was downgraded to Market Perform from Outperform at Keefe Bruyette with a price target set at $51.

Oct 15 · 8:21:00 PM
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by Rich Pike

PEAPACK GLADSTONE FI (PGC)

Peapack-Gladstone Financial Corporation (NASDAQ Global Select Market:PGC) announced today that its Board of Directors has declared a regular quarterly cash dividend of $0.05 per share on its common stock. The dividend will be paid to shareholders on November 13, 2009, to shareholders of record on October 29, 2009.

Oct 15 · 2:30:00 PM · Source: Business Wire
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by Larry Etter

Charles Schwab (SCHW)

The Charles Schwab Corporation announced today that its net income was $200 million for the third quarter of 2009, down 34% from the third quarter of 2008. For the nine months ended September 30, 2009, the company`s net income was $623 million, down 31% from the year-earlier period. Third quarter revenue was 1,011,000 vs. 1,251,000 in last year's comparable period.
Chairman Charles Schwab said: "Here at Schwab, we have seen the fear that gripped investor sentiment in 2008 and early 2009 begin to subside, with branch, website, and phone traffic all showing signs that more individuals are reexamining their investing strategies and looking for direction in managing their investments for the future."

Oct 15 · 11:36:00 AM · Source: Business Wire
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by Larry Etter

Suffolk Bancorp (SUBK)

Suffolk Bancorp (NASDAQ:SUBK) Thursday released the results of its operations during the third quarter of 2009. Earnings-per-share were $0.63, an increase of 6.8 percent from $0.59 during the comparable period of 2008. Net income was $6,028,000, up 6.3 percent from $5,673,000 during the same quarter last year. Earnings-per-share for the year to date were $1.81, down 8.6 percent from $1.98 a year ago.
Suffolk CEO says Suffolk’s performance this past quarter "would be gratifying in any economy, and is even more so considering the ongoing sluggishness both regionally and nationally."

Oct 15 · 11:24:00 AM · Source: Business Wire
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by Larry Etter

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