Market News

State Street (STT)

Keefe BruyetteState Street Corp from Perform to Outperform.

Dec 18 · 1:06:00 PM
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by Rich Pike

Northern Trust (NTRS)

Keefe BruyetteNorthern Trust Corporation from Perform to Outperform.

Dec 18 · 1:03:00 PM
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by Rich Pike

Unum (UNM)

Deutsche BankUnumprovident Corporation from Hold to Buy.

Dec 17 · 8:46:00 PM
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by Rich Pike

PNC Bank (PNC)

JP Morgan initiated coverage for Pnc Bank Corp. with a recommendation of Overweight.

Dec 17 · 8:38:00 PM
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by Rich Pike

Bank of America (BAC)

UBS initiated coverage for Bank of America with a recommendation of Buy.

Dec 17 · 3:21:00 PM
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by Rich Pike

Discover Financial Services (DFS)

Discover Financial Services said Thursday that earnings from continuing operations for the fiscal fourth quarter ended Nov. 30 were $371 million, or 63 cents, compared with $444 million, or 92 cents, a year earlier. The company said its net yield on credit cards fell to 9.37 percent from 9.9 percent in the previous quarter as Discover implemented changes mandated by the Credit Card Accountability Responsibility and Disclosure Act.

Dec 17 · 10:59:00 AM · Source: Company News Release
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by Larry Etter

Citigroup (C)

Citi Wednesday announced the pricing of 5.4 billion common shares and 35 million tangible equity units as part of its agreement with the U.S. government and its regulators to repay U.S. taxpayers for the $20 billion the government holds in TARP trust preferred securities and to terminate the loss-sharing agreement with the government. The common stock priced at $3.15 per share, generating net proceeds of approximately $17 billion. The tangible equity units priced at $100 each, generating net proceeds of approximately $3.5 billion (about $2.8 billion counted as equity.) The combined offering of common stock and tangible equity units is the largest public equity offering in U.S. capital markets history.

Dec 17 · 10:44:00 AM · Source: Company News
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by Larry Etter

Bank of America (BAC)

The Bank of America Board of Directors late Wednesday elected Brian T. Moynihan as CEO and president of the company. He will assume the office and join the Board of Directors following the retirement of Kenneth D. Lewis on December 31, 2009. Moynihan, 50, has held senior leadership positions at Bank of America representing experience across virtually all business lines. He currently is president of Consumer and Small Business Banking.
The naming of Moynihan takes the shroud of uncertainty off BofA.

Dec 17 · 10:21:00 AM · Source: Company News
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by Larry Etter

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