Investment Weekly News back issues from August 2008:
Petroflow Energy Ltd. Grants Stock Options.
Aug 04, 2008 ... Petroflow Energy Ltd. ("Petroflow") (TSX VENTURE:PEF)(AMEX:PED) announces it has granted an aggregate of 292,000 options to its officers and employees pursuant to Petroflow's existing Stock Option Plan effective July 10, 2008. Of the 292,000 options granted, an aggregate of 69,800 options ...
Wells Fargo Increases Dividend 10 Percent.
Aug 04, 2008 ... Wells Fargo & Company (NYSE:WFC) announced a quarterly common stock dividend of 34 cents per share, up 10 percent from the previous dividend of 31 cents per share - the 21st consecutive year Wells Fargo has increased its dividend. The dividend is payable September 1, 2008, to stockholders ...
Audit Integrity Publishes List of 30 Companies Most Likely to be Sued by Shareholders.
Aug 04, 2008 ... Audit Integrity announced the launch of the AGR Litigation Model 2.0, a newly upgraded version of its shareholder litigation risk assessment model, which is widely used by insurance companies and financial institutions to identify corporations at greatest risk of shareholder class action ...
MSCI Inc. Announces Pricing of Secondary Offering of its Common Stock.
Aug 04, 2008 ... MSCI Inc. (NYSE: MXB) announced that the secondary offering of 23,000,000 shares of its class A common stock by Morgan Stanley was priced at a public offering price of $32.00 per share. The secondary offering is pursuant to a Registration Statement on Form S-1 filed with the Securities and ...
Financial Insights Releases First Global Benchmark Comparison of Bank Financial Supply Chain Offerings.
Aug 04, 2008 ... Leading independent research and advisory firm, Financial Insights, an IDC company, announced a new benchmark study, Corporate Payments and Financial Supply Chain: Which Banks are Best (Doc #FIN212936), which evaluates how seven leading financial institutions have extended their corporate ...
Towergate Financial Raises Over GBP100 Million to Launch a New Personal Financial Advisory Model.
Aug 04, 2008 ... Towergate Financial, a new financial advisory business launched under the Towergate brand, announces that it has raised over GBP100 million to pursue its plans to acquire regional IFAs. Funding for the deal has largely been provided by The Royal Bank of Scotland ("RBS"), Lloyds ...
EXCO Resources Announces Automatic Conversion of Preferred Stock.
Aug 04, 2008 ... EXCO Resources, Inc. (NYSE: XCO) announced that it will convert all outstanding shares of its Series A-1, Series B and Series C 7.0% Cumulative Convertible Perpetual Preferred Stock, par value $0.001 per share, and Series A-1 Hybrid Preferred Stock, par value $0.001 per share ...
Omega Announces Common Stock Dividend and Declares Regular Quarterly Dividend on Preferred Stock.
Aug 04, 2008 ... Omega Healthcare Investors, Inc. (NYSE:OHI) announced the Company's Board of Directors declared a common stock dividend of $0.30 per share and declared its regular quarterly dividend for the Company's Series D preferred stock. Common Dividend The Company's Board of ...
Citizens Financial Services, Inc. Declares Cash & Stock Dividend.
Aug 04, 2008 ... The Board of Directors of Citizens Financial Services, Inc. (BULLETIN BOARD: CZFS) the bank holding company for First Citizens National Bank, recently declared a cash and stock dividend for Citizens Financial Services, Inc. shareholders. The cash dividend declared is $.235 per ...
Southern Trust Securities Partners with IPWM and Opens New Offices in Spain.
Aug 04, 2008 ... Southern Trust Securities Holding Corp. ("STSHC") (BULLETIN BOARD: SOHL) , a financial services company offering broker-dealer, investment banking, investment advisory and wealth management services, announced that it has opened offices in Spain. The opening is part of a new joint venture ...
Experienced Local Team Launches New Independent Wealth Management Firm to Service Washington, D.C. Area.
Aug 04, 2008 ... One of the area's most experienced wealth management teams announced the formation of Monument Wealth Management, a boutique independent wealth management firm that will offer true unbiased financial planning, investment advice and asset management to high-net-worth clients in the greater ...
Financial Network Investment Corporation Celebrates 25th Anniversary.
Aug 04, 2008 ... Financial Network Investment Corporation (Financial Network) celebrates its 25th anniversary this month at its national planning conference, which began yesterday in Washington, D.C. More than 1,000 Financial Network representatives are attending the conference. "Financial ...
Orrstown Financial Services, Inc. Announces Second Quarter Earnings Up 11.9% and Third Quarter Dividend.
Aug 04, 2008 ... Orrstown Financial Services, Inc. (BULLETIN BOARD: ORRF) is pleased to announce the net operating results for the second quarter and the six months ended June 30, 2008. Second quarter 2008 earnings of $3,603,000 grew by $383,000 over the same period last year, representing an ...
GE Healthcare Financial Services Closes $3.5 Million Financing With VisEn Medical.
Aug 04, 2008 ... VisEn Medical, a leading developer of fluorescence-based agents and system solutions that enable non-invasive in vivo imaging, has received $3.5 million in venture debt financing from GE Healthcare Financial Services. VisEn will use the credit facility to support its working capital needs ...
Bank of the Ozarks Joins Wolters Kluwer Financial Services' AppOne Platform.
Aug 04, 2008 ... AppOne, a part of Wolters Kluwer Financial Services, announced that Bank of the Ozarks, an Arkansas-based bank that offers commercial equipment financing and leasing through Bank of the Ozarks Leasing, joined AppOne's lender network. AppOne provides Internet-based risk mitigation and ...
TA Associates Completes Minority Recapitalization of Keeley Asset Management Corp.(Company overview)
Aug 04, 2008 ... TA Associates, a leading growth private equity and buyout firm, announced it has completed a minority recapitalization of Keeley Asset Management Corp. ("KAMCO"), a boutique value manager based in Chicago, and its sister company Keeley Investment Corp. Founded by John L. Keeley, ...
Transamerica Financial Advisors Adds Commodity Exposure To Its Fast-Growing Managed ETF Platform.
Aug 04, 2008 ... Transamerica Financial Advisors, Inc. is launching 13 new managed Exchange Traded Funds (ETFs) portfolios as part of its Transamerica I-Series(SM) platform. The new portfolios will include allocations to commodities Exchange Traded Notes (ETNs) as well as municipal bond ETFs. With the ...
Integrated Healthcare Holdings Receives New Equity Investment to Pay Down Debt.
Aug 04, 2008 ... On July 18, 2008, Integrated Healthcare Holdings, Inc. (IHHI), a hospital management company that owns four hospital facilities in Orange County, California, entered into a Securities Purchase Agreement with Kali P. Chaudhuri, M.D. to provide additional equity investment in the company. ...
Sadis & Goldberg LLP Welcomes Partner to Its San Francisco Office.
Aug 04, 2008 ... Sadis & Goldberg LLP is proud to announce the addition of David A. Riley to its San Francisco office as a Partner in the Corporate and Financial Services Group. He will concentrate his practice in the formation of and ongoing servicing to private equity funds and hedge funds, and corporate ...
The Principal Financial Group Partners with CIMB Group for Islamic Asset Management.
Aug 04, 2008 ... The Principal Financial Group(R) and CIMB Group today launched CIMB-Principal Islamic Asset Management Sdn Bhd, their signature global Islamic asset management company that will operate from the Malaysia International Islamic Financial Centre (MIFC). CIMB-Principal Islamic will ...
Guaranty Financial Group Inc. Announces OTS Approval for Private Placement Transactions.
Aug 04, 2008 ... Guaranty Financial Group Inc. (NYSE: GFG) ("Guaranty" or the "Company"), the parent company of Guaranty Bank, announced that the United States Office of Thrift Supervision has provided all remaining regulatory approvals necessary for the Company and Guaranty Bank's recently announced $600 ...
First Trust Announces Partial Redemption of First Trust Tax-Advantaged Preferred Income Fund Series M Auction Preferred Shares.
Aug 04, 2008 ... First Trust Advisors L.P. ("FTA") announced that First Trust Tax-Advantaged Preferred Income Fund (AMEX: FPI), a closed-end fund managed by FTA, intends to redeem $2 million of its $22 million outstanding Series M Auction Preferred Shares ("Series M Shares"). The Fund expects to effect ...
Typhoon Responds to Trading Suspension by the SEC.
Aug 04, 2008 ... Typhoon Touch Technologies, Inc. (OTCBB:TYTT) (www.typhoontouchtech.com), confirms that on July 18, 2008, the Securities and Exchange Commission ("SEC") temporarily suspended the trading of the common stock of Typhoon. In response to the SEC's temporary suspension of trading in ...
Jackson Fund Services Announces the Addition of Four Executives to Senior Management Team.
Aug 04, 2008 ... Jackson Fund Services (JFS; www.JacksonFundServices.com), a division of Jackson National Asset Management, LLC(R), announced the addition of four new executives to its senior management team. The new positions were created in response to the firm's tremendous growth over the past 18 months ...
Eagle Financial Services, Inc. Announces Second Quarter Results and Quarterly Dividend.
Aug 04, 2008 ... Eagle Financial Services, Inc. (BULLETIN BOARD: EFSI) , the holding company for Bank of Clarke County, whose divisions include Eagle Investment Group, announces financial results for the quarter ended June 30, 2008 and a quarterly dividend. The Company's common stock is listed for trading ...
GXS and TDI Consulting Break Down Barriers to Corporate Banking Integration.
Aug 04, 2008 ... GXS, a leading provider of business-to-business (B2B) e-commerce solutions, announced that it has formed a new partnership with TDI Consulting to simplify integration between banks and their corporate clients. TDI provides banking integration implementation services to corporations to ...
Notify Technology Reports Expiration of Warrants and Preferred Unit Options.
Aug 04, 2008 ... Notify Technology Corporation (BULLETIN BOARD: NTFY) announced the expiration of certain securities issued in connection with its July 2001 offering. In July 2001, the Company's shareholders authorized and the Company completed an offering of Series A convertible redeemable ...
Schwab Appoints Walter W. Bettinger II President and CEO.
Aug 04, 2008 ... The Board of Directors of The Charles Schwab Corporation (Nasdaq:SCHW) today appointed Walter W. Bettinger II as president and chief executive officer and a member of the board of directors effective Oct. 1, 2008. Mr. Bettinger had previously served as president and chief operating ...
American Biosurgical Adds David Brazeal, CPA as Chief Financial Officer.(Company overview)
Aug 04, 2008 ... American Biosurgical, a global leader in the custom medical cable market announced that David Brazeal, CPA has joined the company as Chief Financial Officer. As CFO, David will report to Joe McGhee, Chairman and Chief Executive Officer and will have responsibility for leading the finance ...
Deloitte Poll: Nearly One-Quarter of Execs Polled Say Their Investment Management Firms Have no Monitoring Systems for 'Suspicious Transactions'.
Aug 04, 2008 ... As anti-fraud enforcement levels have surged to an all-time high in the investment management industry, a recent online poll, conducted by Deloitte, found that nearly one-quarter (23.8 percent) of respondents' companies do not have a "suspicious transaction" monitoring system and an ...
WellCare Names Thomas L. Tran Senior Vice President and Chief Financial Officer.
Aug 04, 2008 ... WellCare Health Plans, Inc. (NYSE:WCG) announced that Thomas L. Tran will join the Company as senior vice president and chief financial officer on July 21, 2008. Most recently, Mr. Tran was president, chief operating officer and chief financial officer for health care management ...
CareGuide Announces Intent to Go Private; Realigns Executive Ranks.
Aug 04, 2008 ... CareGuide, Inc. (OTCBB:CGDE), a total population health management company, announced its intent to cease its public company status, as well as a realignment of its executive management team. A special committee of the company's board of directors, comprised of independent ...
The South Financial Group Shareholders Approve Conversion Terms and General Voting Rights of Preferred Stock.
Aug 04, 2008 ... The South Financial Group, Inc. (NASDAQ: TSFG) held a Special Meeting of Shareholders today at the Company's Greenville headquarters. Shareholders approved the conversion terms and general voting rights for the Mandatory Convertible Non-cumulative Preferred Stock (Series 2008ND-V, Series ...
Gerard & Associates Files Class Action Suit Against First Command Financial Planning, et al.
Aug 04, 2008 ... The law firms of Gerard & Associates, Blumenthal & Nordrehaug, Fowler White Boggs Banker, P.A., and Robert Fellmeth announced, that on July 2, 2008, a class action pending in the United States District Court for the District of Nevada was amended to add claims for violations of the ...
CoBiz Financial Announces $0.07 Dividend.
Aug 04, 2008 ... The Board of Directors of CoBiz Financial (NASDAQ:COBZ) today declared a $0.07 cash dividend on its common stock for the third quarter of 2008. This dividend will be paid on August 11, 2008 to shareholders of record on August 4, 2008. CoBiz Financial ...
Credit Union Streamlines Operations Through Outsourcing Partnership With Diebold.
Aug 04, 2008 ... Diebold, Incorporated (NYSE:DBD), the global leader in integrated self-service delivery, recently partnered with OnPoint(R) Community Credit Union to provide a comprehensive outsourcing solution. OnPoint Community Credit Union, the largest credit union in Oregon serving approximately ...
First Place Financial Corp. Reports Quarterly Net Income of $2.9 Million.(Financial report)
Aug 04, 2008 ... First Place Financial Corp. (NASDAQ:FPFC) reported net income of $2.9 million for the quarter ended June 30, 2008, a decrease of $2.7 million compared with net income of $5.6 million for the quarter ended June 30, 2007. The decrease was primarily due to an increase of $1.5 million in the ...
Movie Gallery Names Cindy Baier as Chief Financial Officer.
Aug 04, 2008 ... Movie Gallery, Inc. ("Movie Gallery") announced that Lucinda ("Cindy") M. Baier has been named Executive Vice President and Chief Financial Officer of Movie Gallery, effective July 28, 2008. Ms. Baier will report directly to C.J. ("Gabe") Gabriel, Jr., the Company's President and Chief ...
Watson Wyatt Worldwide Names Roger Millay Chief Financial Officer.
Aug 04, 2008 ... Watson Wyatt Worldwide, a leading global consulting firm, announced that Roger Millay has been named chief financial officer, effective August 18. Millay will report to president and chief executive officer John Haley. The retirement of current chief financial officer Carl Mautz was ...
BATS Promotes Jessi Kingsbury to Chief Financial Officer.
Aug 04, 2008 ... BATS Trading Inc., an innovative and technology-leading U.S. market center, promotes Jessi Kingsbury to chief financial officer. Ms. Kingsbury, a founding employee of BATS, was previously controller. As CFO, she continues to be responsible for all financial functions at the ...
Cousins Properties Declares Third Quarter Preferred and Common Stock Dividends.
Aug 04, 2008 ... Cousins Properties Incorporated (NYSE: CUZ) announced that its Board of Directors has declared a regular quarterly cash dividend on its Series A Cumulative Redeemable Preferred Stock. The dividend of $0.484375 per share, or $1.9375 on an annualized basis, is payable August 15, 2008, to ...
Comdata Promotes Keela Wofford to Senior Vice President, Financial Services.
Aug 04, 2008 ... Comdata(R) Corporation, a leader in payment innovation, has promoted Keela Wofford to senior vice president, financial services. Wofford is responsible for managing all sales and operations aspects of the receivables financing portfolio at Comdata. Since joining the company in 1993, ...
New Davlin Funds Turn Investors into Philanthropists While Providing Long-Term Capital Appreciation.
Aug 04, 2008 ... The Davlin Philanthropic Fund, the first no-load mutual fund that allows investors to donate to charity a significant portion of the fees typically paid for fund management, is now open to investors. As with any SEC registered, open-end mutual fund, investors maintain control ...
Murray, Frank & Sailer LLP Announces Investigation of Ambac Financial Group, Inc. on Behalf of Purchasers of Directly-Issued Subordinated Capital Securities DISCS.
Aug 04, 2008 ... To Purchasers of Ambac Financial Group, Inc. ("Ambac" or the "Company") (NYSE: ABK) Directly-Issued Subordinated Capital Securities issued 2/7/07 and due 2/7/87 ("DISCS"). Murray, Frank & Sailer LLP is investigating a class action on behalf of shareholders who purchased or otherwise ...
Revenue Growth Drives Strong 2008 Second Quarter Earnings for Ledyard Financial Group.(Financial report)
Aug 04, 2008 ... Ledyard Financial Group, Inc. (ticker symbol LFGP), reported total revenue for the quarter ended June 30, 2008 of $4,880,524, which was up $112,236 compared to the first quarter of 2008. Net Interest Income for the quarter ended June 30, 2008 of $3,175,099 was a record high for the Company ...
First Commonwealth Financial Corporation to Participate at KBW Community Bank Investor Conference.(Conference news)
Aug 04, 2008 ... John J. Dolan, President and CEO of First Commonwealth Financial Corporation (NYSE:FCF), and Edward J. Lipkus, Executive Vice President and Chief Financial Officer, will speak at the Community Bank Investor Conference sponsored by KBW (Keefe, Bruyette & Woods) on Tuesday, July 29 in New ...
Keeley Asset Management Corp. Announces Minority Investment From TA Associates and Employee Equity Participation Plan.(Company overview)
Aug 04, 2008 ... Keeley Asset Management Corp., a leading mutual fund and investment advisory firm, and its sister company Keeley Investment Corp. announced a minority investment from Boston based TA Associates, one of the oldest and largest private equity firms in the U.S. with a long history of investing ...
Mothers Work Announces Promotion of Judd Tirnauer to Senior Vice President-Chief Financial Officer.
Aug 04, 2008 ... Mothers Work, Inc. (NASDAQ:MWRK), the world's leading maternity apparel retailer, announced that Judd P. Tirnauer, the Company's current Vice President-Finance, has been promoted to the position of Senior Vice President-Chief Financial Officer. Mr. Tirnauer has served as Vice ...
MutualFirst Financial, Inc. Completes Acquisition of MFB Corp.
Aug 04, 2008 ... MutualFirst Financial, Inc. (NASDAQ:MFSF) announced that its acquisition of MFB Corp. (NASDAQ:MFBC) was completed today. In connection with the acquisition, MFB Financial, the bank subsidiary of MFB Corp., was merged into MutualFirst's bank subsidiary, Mutual Bank. MutualFirst ...
Provident Financial Services, Inc. Announces Quarterly Earnings and Declares Quarterly Cash Dividend.
Aug 04, 2008 ... Provident Financial Services, Inc. (NYSE:PFS) (the "Company") reported basic and diluted earnings per share of $0.18 for the quarter ended June 30, 2008, compared to basic and diluted earnings per share of $0.22 for the quarter ended June 30, 2007. Basic and diluted earnings per share were ...
U.S. Venture Capital Investment Drops 12% from 2007 Highs with $6.64 Billion Invested in 2Q08.(Report)
Aug 04, 2008 ... In the second quarter of 2008, quarterly venture capital investment in U.S. companies slipped below the $7 billion mark for the first time in 18 months. According to the Quarterly U.S. Venture Capital Report released by Dow Jones VentureSource (www.venturecapital.dowjones.com), investment ...
Vast Majority of Affluent Investors Rank Investment Research as Important.
Aug 04, 2008 ... Just six years after the Wall Street research scandal ran its course, affluent investors are acknowledging the importance of investment research. Nearly three-quarters (73%) of affluent investors, those with $500,000 or more in investable assets, "agree" or "strongly agree" ...
BlackRock Reports Second Quarter Diluted EPS of $2.05.(Financial report)
Aug 04, 2008 ... BlackRock, Inc. (NYSE:BLK) reported net income for the 2008 second quarter of $274 million, or $2.05 per diluted share, an increase of 23% compared to the second quarter of 2007. Net income for the first half of 2008 totaled $516 million, or $3.87 per diluted share, an increase of 23% ...
Intertek and CCIC announce enhanced China trade security program.
Aug 04, 2008 ... Intertek, the leading provider of quality, safety, and international trade solutions to industries worldwide has formed a partnership with China Certification & Inspection Group Co., Ltd.(CCIC), a transnational inspection, surveying, certification and testing services company, to drive the ...
PHAZAR CORP Announces FINRA Arbitration Claim and Suit Against UBS Financial Services, Inc.
Aug 04, 2008 ... PHAZAR CORP, (Nasdaq: ANTP) announced, that on June 26, 2008, the Company filed a claim in arbitration against UBS Financial Services, Inc. ("UBS") with the Financial Industry Regulatory Authority, Inc. ("FINRA" formerly called the NASD) for fraud, breach of fiduciary duty, breach of ...
Dollar Financial Corp Announces Stock Repurchase Plan.
Aug 04, 2008 ... Dollar Financial Corp (NASDAQ:DLLR - News), a leading international financial services company serving under-banked consumers, announced that its Board of Directors has approved a stock repurchase plan, authorizing the Company to repurchase in the aggregate up to $7.5 million of its ...
Zhone Technologies Reports Second Quarter 2008 Financial Results.(Company overview)(Financial report)
Aug 04, 2008 ... Zhone Technologies, Inc. (NASDAQ:ZHNE), a global leader in multi-service access solutions, reported its financial results for the second quarter ended June 30, 2008. Revenue for the second quarter of 2008 was $40.1 million compared with $43.0 million for the first quarter of ...
Cat Financial Announces Second Quarter 2008 Results.(Financial report)
Aug 04, 2008 ... Caterpillar Financial Services Corporation (Cat Financial) reported record second-quarter revenues of $785 million, an increase of $38 million, or 5 percent, compared with the second quarter of 2007. Second-quarter profit after tax was $130 million, a $7 million, or 6 percent, increase ...
Centralized Counterparty Data Recognized by Financial-Services Firms as an Asset to Fuel Business Growth.
Aug 04, 2008 ... With financial risk management a top priority, the need to obtain a complete view of credit exposure by counterparty, is essential. In this environment, the management of counterparty data is reaching its next frontier and is fueling business growth finds a new white paper ...
Wanger Investment Management, Inc. Expands With the Appointment of Two Executives.
Aug 04, 2008 ... Wanger Investment Management, Inc. announces the addition of two executives to its team. William Andersen joins as Portfolio Manager and Director of Research. In this capacity, Andersen will lead the research process for the entire Wanger product line and oversee the expansion ...
Sugar Creek Financial Corp. Announces Open Market Stock Purchases to Fund 2007 Equity Incentive Plan.
Aug 04, 2008 ... Sugar Creek Financial Corp. (OTCBB:SUGR; the "Company") announced that the Company has authorized the funding of a trust that will purchase up to 17,774 shares, or approximately 1.96%, of the Company's outstanding common stock. The shares acquired by the trust will be used to fund ...
OptiMedica Appoints Mark A. Murray to Chief Financial Officer.
Aug 04, 2008 ... Global ophthalmic company OptiMedica Corp. has named Mark A. Murray its chief financial officer, a newly created position. Murray brings to OptiMedica more than twenty-five years of senior financial experience in the medical device sector, with a wealth of knowledge and expertise in ...
Medallion Financial Announces Agreement for Purchase of $31.1 Million Taxicab Medallion and Commercial Loan Portfolio.
Aug 04, 2008 ... Medallion Financial Corp. (NASDAQ:TAXI), a specialty finance company with a leading position servicing the taxicab industry and other niche markets, announced that its wholly owned subsidiary, Medallion Bank, has agreed to purchase substantially all of Elk Associates Funding Corporation's ...
Marchex Announces Regular Quarterly Dividend for Common Stock.
Aug 04, 2008 ... Marchex, Inc. (NASDAQ:MCHX) (NASDAQ:MCHXP), a local search and advertising company, announced that the company's Board of Directors has declared a regular quarterly dividend in the amount of $0.02 per share on its common stock. Marchex will pay these dividends on August 15, 2008, to the ...
Rodman & Renshaw Once Again Ranked #1 Investment Bank In PIPE Market by Deal Volume.
Aug 04, 2008 ... Rodman & Renshaw Capital Group, Inc (NASDAQ: RODM), announced that its Rodman & Renshaw, LLC subsidiary has maintained its leading position in PIPE transaction deal volume for the first half of 2008, garnering the top spot in PlacementTracker's First Half 2008 PIPE Market League Tables, ...