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FelixSalmon.com (Free subscription) | 12/04/2009
Banks' public disclosures have always been on the opaque side. But now things are worse than ever, according to Nomi Prins , who should know: In the cases of Bank of America, Citigroup and Wells Fargo, the preferred tactic is re-classification and opaqueness. These moves make it virtually impossible to get an accurate, or consistent picture of banks ‘real money’ (from commercial or customer...
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BloggingStocks (Free subscription) | 12/03/2009
Filed under: Bank of America (BAC) , Wells Fargo (WFC) It seems that the TARP-related news from Bank of America ( BAC ) Thursday morning has many thinking about how much capital other banks will need to raise in order to pay back taxpayers. One of those banks that some have speculated about is Wells Fargo ( WFC ). According to Keefe, Bruyette & Woods (KBW), Wells Fargo may need to raise as much...
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BloggingStocks (Free subscription) | 12/03/2009
Filed under: Citigroup Inc. (C) , Bank of America (BAC) , Wells Fargo (WFC) , Recession , Financial Crisis Bank of America ( BAC ) surprised the market on Wednesday by announcing that it would repay the $45 billion in TARP money it received over the next few days. This gives the company much more flexibility in compensating its employees, but it could leave the bank exposed to future economic shocks....
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Market Wire (Free subscription) | 12/02/2009
SALT LAKE CITY, UT (MARKET WIRE) Extra Space Storage Inc. (NYSE: EXR) announced today that Spencer F. Kirk, Chairman and CEO of Extra Space Storage, will present an overview of the Company followed by a question and answer period at the Wells Fargo 13th Annual Real Estate Securities Conference in New York City at The Waldorf=Astoria. The presentation is scheduled to begin on Wednesday, December 9,...
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PR News Wire (Free subscription) | 11/30/2009
DALLAS, Nov. 30 /PRNewswire-FirstCall/ -- Ashford Hospitality Trust, Inc. (NYSE: AHT) today announced that it will participate in a hotel industry panel presentation at the Wells Fargo Global Real Estate Conference on December 8-9, 2009, in New York City at The Waldorf=Astoria. The panel presentation will take place on Wednesday, December 9, 2009, at 9:05 a.m. to 9:45 a.m. ET. The Company will also...
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BloggingStocks (Free subscription) | 11/24/2009
Filed under: Analyst reports , Analyst upgrades and downgrades , Analyst initiations Analyst upgrades: Wells Fargo upgraded Prudential ( PRU ) to outperform from market perform. The firm thinks the company is in a better position than its peers and will be able to more effectively exploit M&A opportunities. UBS upgraded Reliance Steel ( RS ) to buy from neutral based on potential growth through...
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Market Watch (Free subscription) | 11/24/2009
LONDON (MarketWatch) -- Prudential Financial was upped to outperform from market perform by Wells Fargo, as the broker said the insurer is emerging from the financial crisis better capitalized and with a higher degree of financial flexibility than many of its peers. "Prudential looks much as it did prior to the financial crisis, in our opinion; with a business mix oriented toward higher returning...
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Business Wire (Free subscription) | 11/23/2009
NEW YORK--(BUSINESS WIRE)--Transatlantic Holdings, Inc. (NYSE: TRH) (the “Company”) announced today the closing of a previously announced registered offering (the “Offering”) of $350,000,000 aggregate principal amount of its 8.00% Senior Notes due 2039. Goldman, Sachs & Co. and Wells Fargo Securities, LLC were underwriters for the Offering. Transatlantic Holdings, Inc. is...
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BloggingStocks (Free subscription) | 11/19/2009
Filed under: Analyst reports , Analyst upgrades and downgrades , Intel (INTC) , Texas Instruments (TXN) , Analyst initiations Analyst upgrades: Oppenheimer upgraded Momenta Pharmaceuticals ( MNTA ) to outperform from perform as it finds the stock attractive ahead of FDA's decision on M-enoxaparin. The firm has a $15 price target on the stock. Wells Fargo upgraded Symmetry Medical ( SMA ) to market...
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The Street (Free subscription) | 11/18/2009
Wells Fargo reached a settlement with regulators to resolve questions about its marketing of auction rate securities, agreeing to buy back roughly $1.4 billion of the securities from eligible investors.
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USA Today (Free subscription) | 11/18/2009
Three subsidiaries of Wells Fargo(WFC) have agreed to repay customers about $1.4 billion to settle a lawsuit alleging the company ...
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BloggingStocks (Free subscription) | 11/18/2009
Filed under: Analyst reports , Analyst upgrades and downgrades , Target Corp. (TGT) , Research in Motion (RIMM) , Analyst initiations Analyst upgrades: RBC Capital upgraded Fidelity National ( FIS ) to outperform from sector perform. The firm upgraded the stock due to valuation, and its belief that the company will clear up issues related to its merger on its Analyst Day, scheduled for Dec. 7. The...
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Business Week (Free subscription) | 11/18/2009
Plus Wall Street analyst opinions on Autodesk and Salesforce.com
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Business Wire (Free subscription) | 11/17/2009
SAN FRANCISCO--(BUSINESS WIRE)--Wells Fargo & Company (NYSE:WFC) announced today that its team members pledged a record $41.9 million to more than 25,000 nonprofits and schools through its annual Community Support and United Way Campaign. This was a 21 percent increase over the combined Wells Fargo and Wachovia campaigns in 2008. It was also the Company’s most “green” Campaign...
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