Investment Weekly News back issues from June 2009:
PGB Trust & Investments Opening New Office in Bethlehem, Pennsylvania.
Jun 06, 2009 ... Peapack-Gladstone Financial Corporation (NASDAQ Global Select Market:PGC) and PGB Trust & Investments announce the opening of a Bethlehem, Pennsylvania regional trust office. PGB Trust & Investments, the financial services division of Peapack-Gladstone Financial Corporation and ...
Capital One Bank and Cypress Hills LDC Announce Opening of New Cypress Hills Development.
Jun 06, 2009 ... Capital One Bank, N.A., and the Cypress Hills Local Development Corporation unveiled the new Cypress Plaza Mews development at a ribbon-cutting ceremony today in Cypress Hills, Brooklyn. Located on Fulton Street, the mixed-use commercial/residential development in the heart of Cypress ...
Georgia Gulf Announces Note Holder Forbearances and Extension of Private Debt Exchange Offers.
Jun 06, 2009 ... Georgia Gulf Corporation (NYSE: GGC) announced it has entered into agreements with the holders of its 9.5% Senior Notes due 2014 and 10.75% Senior Subordinated Notes due 2016 comprising the requisite percentages thereof to ensure that such indebtedness may not be accelerated under the ...
EPIX Pharmaceuticals Announces Receipt of NASDAQ Panel Decision to Delist Common Stock.
Jun 06, 2009 ... EPIX Pharmaceuticals, Inc. (NASDAQ: EPIX), a biopharmaceutical company focused on discovering and developing novel therapeutics through the use of its proprietary and highly efficient in silico drug discovery platform, announced that it has received notification that the NASDAQ Listing ...
URS Corporation Reports First Quarter 2009 Results.(Financial report)
Jun 06, 2009 ... URS Corporation (NYSE: URS) reported its financial results for the first quarter of fiscal 2009, which ended on April 3, 2009. Revenues for the quarter were $2.52 billion, an 11.6% increase from the $2.26 billion recorded during the first quarter of 2008. URS net income was $75.5 million, ...
Michael Babyak of Precision Financial Services, Inc. Invited to Attend Barron's First Annual Top Independent Advisors Summit in Arizona.(Conference notes)
Jun 06, 2009 ... Barron's hosted its first annual Top Independent Advisors Summit as the latest extension of its successful "Winner's Circle" conference franchise May 6-7 in Arizona. The invitation-only summit represented an elite gathering of the nation's pre-eminent independent advisors who were honored ...
Citi's Foreclosure Prevention Successes in Illinois Outnumbered Foreclosures Completed by More Than Eight to One in First Three Months of the Year.
Jun 06, 2009 ... Today, Citi's Office of Homeownership Preservation (OHP) announced that Citi's foreclosure prevention and industry-leading loss mitigation efforts in the first three months of this year have successfully helped thousands of people throughout Illinois and the rest of the country avoid ...
Gradient Financial Group and Donald Trump's Original "Apprentice" Bill Rancic Award Financial Makeovers to Families in Need.
Jun 06, 2009 ... Gradient Financial Group announced that it will award deserving families across America financial makeovers from May 1 - December 31, 2009, through its Gradient Gives Back Community Outreach Program. Donald Trump's original "Apprentice", Bill Rancic, will serve as Gradient's national ...
Lenders One Continues to Increase Membership.
Jun 06, 2009 ... After the addition of 42 new members to its roster in 2008, Lenders One Mortgage Cooperative, a national alliance of mortgage bankers, announced that it is continuing the trend of steady growth by adding seven new members in the first quarter of 2009 and another six members in the month of ...
Sterne Agee Expands their Financial Institutions Investment Banking Group.
Jun 06, 2009 ... Sterne, Agee & Leach, Inc. ("Sterne Agee") is pleased to announce that Michael Perry, Bob Toma, Nathan Strall and Andrew Stager have joined Sterne Agee's Financial Institutions Investment Banking Group. Mr. Perry joins Sterne Agee as a Managing Director in their New York office ...
FBR Capital Markets Initiates Coverage of European Securities.
Jun 06, 2009 ... FBR Capital Markets Corporation (NASDAQ:FBCM), a leading investment bank serving the middle market, announced that Friedman, Billings, Ramsey International, Ltd. (FBRIL), the company's international corporate finance, institutional brokerage and research subsidiary has officially launched ...
Oak Ridge Financial Services Announces Increased First Quarter 2009 Earnings.
Jun 06, 2009 ... Oak Ridge Financial Services, Inc. (NASDAQ CM: BKOR), the holding company for Bank of Oak Ridge, reported first quarter 2009 net income of $100,000, compared with net income of $61,000 for the same period in 2008. First quarter 2009 loss available to common stockholders was $8,000, ...
Bibby Financial Services Appoints Tom Hearne as Vice President of Sales and Marketing.
Jun 06, 2009 ... Bibby Financial Services said it is pleased to announce the appointment of Tom Hearne as Vice President of Sales and Marketing, servicing the areas Iowa, Indiana, and Southern Illinois. Tom joins Bibby Financial Services with more than fifteen years of experience in commercial ...
Arlington Asset Investment Corp. Closes Sale of FBR Capital Markets Stock.
Jun 06, 2009 ... Friedman, Billings, Ramsey Group, Inc. (d/b/a Arlington Asset Investment Corp.) (NYSE:FBR) ("Arlington"), announced that the Company and FBR Capital Markets Corporation ("FBR Capital Markets") (NASDAQ:FBCM) closed the repurchase transaction which was previously announced on May 18, 2009 ....
S&P Launches Financial and Non-Financial Versions of its U.S. Commercial Paper Indices.
Jun 06, 2009 ... Adding greater transparency into the U.S. commercial paper market, Standard & Poor's -- the world's leading index provider -- announced the launch of financial and non-financial commercial paper sub indices. The headline S&P U.S. Commercial Paper Index is a broad based index that measures ...
Principal Financial Group Receives Preliminary Approval for U.S. Treasury Capital Purchase Program.
Jun 06, 2009 ... The Principal Financial Group® (NYSE: PFG) announced it was formally notified of preliminary approval of its application to participate in the U.S. Treasury Department's Capital Purchase Program (CPP). The application was for $2 billion. "Since our CPP application last ...
Renaissance Financial Corp. Works With Advantage Capital Partners to Move Headquarters to City.
Jun 06, 2009 ... Advantage Capital Partners, a leading venture capital and small business finance firm, provided $7 million in financing to Renaissance Financial Corp., an independently owned and operated financial advisory service firm, headquartered in St. Louis. Advantage Capital provided funding in ...
iStar Financial Declares Preferred Stock Dividends.
Jun 06, 2009 ... iStar Financial Inc. (NYSE: SFI), a leading publicly traded finance company focused on the commercial real estate industry, announced that the Company's Board of Directors has declared dividends on the Company's Series D, Series E, Series F, Series G, and Series I Preferred Stock. For all ...
ForeclosureS.com: Stress Tests are In. Banks Need Capital.
Jun 06, 2009 ... The nation's banks need cash and their bulging portfolios of "hidden" foreclosure inventory are one ticket to help them get it, if they price it right. That's the bottom line based on analysis of the foreclosure numbers and today's economics by ForeclosureS.com, a leading real estate ...
Voxware Reports Results for Third Quarter of Fiscal 2009.
Jun 06, 2009 ... Voxware, Inc. (Nasdaq: VOXW), a leading supplier of software for voice-driven warehousing operations, reported results for the three and nine months ended March 31, 2009. Total revenues decreased 36% to $4.021 million for the quarter ended March 31, 2009 from $6.314 million during the ...
Choate, Hall & Stewart to Present Session at BIO International on "Raising Venture Capital in the U.S.".
Jun 06, 2009 ... Choate, Hall & Stewart LLP will present a session at the BIO 2009 International Convention on "Raising Venture Capital in the U.S.: A Practical Road Map for Foreign Companies to the World's Largest Venture Capital Pool." Well-known venture capital attorney Steve Hurwitz from Choate will ...
Williams Capital to Manage $1 Billion for Goldman Sachs.
Jun 06, 2009 ... Williams Capital Management, LLC, a wholly-owned subsidiary of The Williams Capital Group, L.P., announced that The Goldman Sachs Group, Inc (NYSE:GS) selected Williams Capital to manage $1 billion of U.S. treasury and government agency securities. The investment will provide ...
AdmitOne to Collaborate with the Financial Information Services Division FISD to Solve $8 Billion Anti-Piracy Problem.
Jun 06, 2009 ... AdmitOne, the leading innovator of identity assurance and analytics solutions, announced its participation in the Anti-Piracy Working Group of the Financial Information Services Division (FISD) of the Software & Information Industry Association (SIIA). AdmitOne's research and ...
Shepherd Smith Edwards & Kantas Files Claim Against UBS International for Overconcentration in Financial Sector Preferred Stock.
Jun 06, 2009 ... Shepherd, Smith, Edwards & Kantas LLP (www.sseklaw.com), a firm specializing in litigation/arbitration involving securities fraud and brokerage firm misconduct has filed an arbitration claim (FINRA case # 09-02260) on behalf of a client of UBS International ("UBSI"), a division of UBS ...
UMB Among Top 5 Best Banks in SNL Financial Stress Test.
Jun 06, 2009 ... UMB Financial Corporation (NASDAQ: UMBF) ranked No. 5 in a "stress test" conducted by SNL Financial to determine the best capitalized bank holding companies nationally. In the report announced, May 12, SNL Financial ranked bank holding companies between $1 billion and $100 billion in ...
Shareholders Approve Reorganization of the High Yield Income Fund, Inc. and the High Yield Plus Fund, Inc. into Dryden High Yield Fund, Inc.
Jun 06, 2009 ... Shareholders have approved the proposed reorganization of two closed-end funds--The High Yield Income Fund, Inc. (NYSE: HYI) and The High Yield Plus Fund, Inc. (NYSE: HYP) into the open-end Dryden High Yield Fund, Inc. (collectively, the "Funds"). The reorganizations are ...
Paladin Registry Announces InvestorWatchdog.com - a New Blog Site That Exposes the Ethical Conflicts of the Financial Services Industry.
Jun 06, 2009 ... Paladin (http://www.paladinregistry.com/), a five-year-old Registry of pre-screened financial advisors and financial planners, recently launched InvestorWatchdog (http://www.investorwatchdog.com/), a blog site that focuses on unethical business practices in the financial services industry ...
OGX Reports First Quarter 2009 Results.
Jun 06, 2009 ... OGX S.A. (Bovespa: OGXP3) announced its first quarter results today. The following financial and operating information is presented on a consolidated basis, pursuant to Brazilian corporate law, in thousand of reais (R$), unless stated otherwise. "In the first quarter, we ...
Union Bank Announces National Expansion of Corporate and Institutional Treasury Services Division.
Jun 06, 2009 ... Union Bank, N.A., announced the national expansion of its Corporate and Institutional Treasury Services Division, which provides deposit and Global Treasury Management Services, to financial institutions, large corporations and to federal, state and local governments. Senior ...
Perella Weinberg Partners Names Stefan Jentzsch as Partner.
Jun 06, 2009 ... Perella Weinberg Partners announced that Stefan Jentzsch will join the firm as a Partner in its Advisory Group effective July 1, 2009. Mr. Jentzsch, who will be based in London, brings over 20 years of broad and diverse financial services and corporate advisory experience to the firm. ...
Nearly Half a Million Unique Visitors Flock to the Daily Crux for Financial News Bundled with Contrarian Commentary.
Jun 06, 2009 ... Stansberry & Associates Investment Research announced the overwhelming response to the launch and growth of the firm's latest service - The Daily Crux. The Daily Crux is an online financial news and analysis resource with media partnerships from the top newspapers, Web sites, investment ...
Cantor Fitzgerald Marine Transportation Analyst Natasha Boyden Ranked #1 by Financial Times/Starmine.
Jun 06, 2009 ... Cantor Fitzgerald & Co. announced that Natasha Boyden, Managing Director for Cantor's U.S. Equities Research Group has been ranked #1 Earnings Estimator in the Marine Industry in this year's FT/Starmine awards for research performers. Ms. Boyden also received a top award in the Stock ...
Supreme Software Offers Wolters Kluwer Financial Services' Retail Sales Installment Contracts to Auto, RV and Marine Dealerships.
Jun 06, 2009 ... Wolters Kluwer Financial Services announced that its electronic retail sales installment contracts and documents will be integrated with Supreme Software's finance and insurance (F&I) system, The Dealership Tracker, for auto, RV and marine dealerships. Additionally, Supreme Software will ...
Morgan Keegan Hires Keusch, Continues Growth in Healthcare Industry.
Jun 06, 2009 ... Morgan Keegan & Company, Inc. has announced that Lawrence Keusch has joined the firm as a senior equity analyst and managing director. Keusch, a 23-year veteran of the equity research industry, will cover the medical technology sector for the Equity Capital Markets Group and will be based ...
IGI Laboratories, Inc. Announces Annual Stockholders Meeting Voting Results.(Financial report)
Jun 06, 2009 ... IGI Laboratories, Inc. (NYSE AMEX: IG), a premier provider of topical formulation development, analytical, manufacturing and packaging services, announced the results of voting at its Annual Meeting of Stockholders, held today at Buena Vista Country Club in Buena, New Jersey. ...
AIG to Accelerate Separation of AIA.
Jun 06, 2009 ... American International Group, Inc. (AIG) announced it will accelerate steps to position American International Assurance Company, Ltd. (AIA Group) as an independent entity and seek a public listing on an Asian stock exchange for the AIA Group, depending on market conditions and subject to ...
Ipreo Integrates Global Fund Ownership Information from Morningstar to Bring Unique Fixed-Income & Equity Offering to Market.
Jun 06, 2009 ... Ipreo, a premier global provider of market intelligence and investor data to investment banks and corporations, has announced an agreement with Morningstar, Inc., (NASDAQ: MORN) a leading provider of independent investment research, to integrate Morningstar's global fund ownership data ...
MasterCard Launches Integrated Marketing and Consumer Education Efforts Focused on U.S. Hispanic Consumers.
Jun 06, 2009 ... MasterCard Worldwide announced a marketing and consumer education campaign that speaks directly to U.S. Hispanic consumers. As part of its ongoing efforts to educate consumers about the value of its myriad of payment products, MasterCard released a new 30-second Spanish language Priceless ...
Lighthouse Financial Enhances Institutional Sales & Trading Operations.
Jun 06, 2009 ... Lighthouse Financial, a New York based investment bank and institutional securities firm, announced that it is expanding its Institutional Sales & Trading Operations by launching a Derivatives Platform. The new platform consists of 12 professionals that will be led by Tim Youssef and Nimit ...
DHT Maritime, Inc. Reports First Quarter 2009 Results.(Financial report)
Jun 06, 2009 ... DHT Maritime, Inc. (NYSE:DHT) announced results for the period from January 1 to March 31, 2009. Total revenues for this period were $29.8 million and net income was $6.9 million, or $0.17 per share (diluted). Effective January 1, 2009 DHT no longer accounts for interest rate swaps as ...
Covanta Holding Corporation Prices $400 Million Cash Convertible Senior Notes.
Jun 06, 2009 ... Covanta Holding Corporation (NYSE:CVA) ("Covanta") announced the pricing of its private offering of $400 million aggregate principal amount of 3.25% cash convertible senior notes due 2014. In addition, Covanta has granted the initial purchasers for the offering an option to purchase up to ...
MedClean Technologies, Inc. Announces Private Offer to Exchange Warrants.
Jun 06, 2009 ... MedClean Technologies, Inc. (BULLETIN BOARD: MCLN) announced that it has commenced a private offer to exchange all of the Company's existing Common Stock Purchase Warrants with Initial Exercise Dates between July 11, 2008 and August 29, 2008 ("Existing Warrants") for newly issued Common ...
Bank of Florida Corp. to Present at the 2009 SunTrust Robinson Humphrey Financial Services "UnConference".
Jun 06, 2009 ... Bank of Florida Corp. (Nasdaq:BOFL), a $1.6 billion-asset, multi-bank holding company based in Naples, Florida, announced that it will participate as a presenter at the 2009 SunTrust Robinson Humphrey Financial Services "UnConference" to be held May 19-20, 2009 in New York City, New York ....
State Street Corporation Prices $2.0 Billion Common Stock Offering.
Jun 06, 2009 ... State Street Corporation (NYSE: STT) announced the pricing of its previously announced offering of $2.0 billion, or 51.3 million shares, of its common stock. State Street has also granted the underwriters an option to purchase up to 7.7 million additional shares of common stock. The ...
Delaware Investments Dividend and Income Fund, Inc. Announces Self-Tender Offer for Five Percent of its Shares.
Jun 06, 2009 ... Delaware Investments Dividend and Income Fund, Inc. (NYSE:DDF) (the "Fund") announced that its Board of Directors has authorized an issuer tender offer to purchase for cash up to 496,792 shares of its common stock, each of which has a par value of $0.01 per share, representing 5 percent of ...
Octavian Global Technologies Completes $4,000,000 Private Placement and Converts US $6,500,000 of Debt Into Equity.
Jun 06, 2009 ... Octavian Global Technologies, Inc. (OTC BB: OCTV) ("Octavian"), a leading provider of total gaming and lottery solutions, serving Casino, AWP (Amusements With Prizes), Lottery and emerging gaming market sectors worldwide, announced it entered into a private placement providing ...
The Hartford Receives Preliminary Approval for $3.4 Billion Participation In Treasury's Capital Purchase Program.
Jun 06, 2009 ... The Hartford Financial Services Group, Inc. (NYSE: HIG) announced that the United States Treasury Department has provided preliminary approval for the company to participate in Treasury's Capital Purchase Program (CPP) in the amount of $3.4 billion. "We are pleased that we ...
GE Capital Fleet Services Identifies $100 Million in Cost Savings for Customers in First Quarter.
Jun 06, 2009 ... GE Capital Fleet Services announced it identified nearly $100 million in cost savings for customers in the first quarter of 2009. Over the last five years, GE has helped companies with commercial car and truck fleets maximize their return on their fleet investments by identifying nearly $2 ...
McDermott Bolsters Private Equity Team with Two New Chicago Partners.
Jun 06, 2009 ... International law firm McDermott Will & Emery LLP is pleased to announce that Laurence R. Bronska and Andrew W. McCune have joined the Firm as partners in the Corporate Department based in the Chicago office. Bronska and McCune, formerly Co-Chairs of the Midwest Private Equity Practice at ...
GMAC Financial Services Announces Key Capital and Liquidity Actions.
Jun 06, 2009 ... GMAC Financial Services announced several key actions that significantly improve the company's capital position and access to liquidity. The actions include a $7.5 billion capital investment from the U.S. Department of the Treasury, approval by the Federal Deposit Insurance Corporation ...
MassMutual Adds Holistic Financial Planning Content to Its RetireSmartSM Academy Participant Website.
Jun 06, 2009 ... MassMutual's Retirement Services Division recently added new holistic financial planning content to the MassMutual RetireSmart(SM) Academy, its participant education website. The site is an interactive online resource designed to create a more personal educational experience for its ...
First Data Reports First Quarter Revenue of $2.1 Billion.(Financial report)
Jun 06, 2009 ... First Data Corp. reported its financial results for the quarter ending March 31, 2009. Consolidated revenues were $2.1 billion, down 2% or up 1% on a constant currency basis. Adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) were $491 million, down 15% or ...
Community Financial Shares, Inc. Receives $6.97 Million of New Capital under U.S. Treasury's TARP Capital Purchase Program.
Jun 06, 2009 ... Community Financial Shares, Inc. (OTCBB: CFIS) (the "Company"), the parent company of Community Bank-Wheaton/Glen Ellyn, announced that it has received a $6.97 million investment from the U.S. Department of the Treasury in exchange for 6,970 shares of the Company's preferred stock pursuant ...
US Retirement Market Totals over $24 Trillion and Generates $183 Billion in Revenue for Financial Services Firms, According to New Novarica Special Report.
Jun 06, 2009 ... While the US Retirement Market is twice as big as the USA's annual GDP and generates $183 billion in annual revenue for financial services firms, few market participants have a clear picture of the total value chain and who captures most of the revenues, says a new special report published ...
Coeur Announces 1 for 10 Reverse Stock Split.
Jun 06, 2009 ... Coeur d'Alene Mines Corporation (NYSE:CDE)(TSX:CDM)(ASX:CXC) announced that its board of directors has authorized a one-for-ten reverse split of its common stock, which was approved by Coeur stockholders at the Annual Meeting of Stockholders on May 12, 2009. The reverse split will be ...
Ambassador Ford M. Fraker Joins KKR as Senior Advisor.
Jun 06, 2009 ... Kohlberg Kravis Roberts & Co. L.P. ("KKR") announced the appointment of Ambassador Ford M. Fraker, the former U.S. Ambassador to the Kingdom of Saudi Arabia and former Chairman of private investment banking firm Trinity Group Limited, as a Senior Advisor to the Firm. Henry R ....
Invitel Holdings A/S Announces First Quarter 2009 Financial Results.(Financial report)
Jun 06, 2009 ... Invitel Holdings A/S (NYSE Amex U.S.:IHO), the successor to Hungarian Telephone and Cable Corp., announced its financial results for the quarter ended March 31, 2009. FIRST QUARTER 2009 RESULTS The results for the quarter ended March 31, 2009 reflect the inclusion of the results ...
Broder Bros., Co. Announces Completion of Financial Restructuring.
Jun 06, 2009 ... Broder Bros., Co. (the "Company") announced that it has completed its previously announced financial restructuring through the settlement of its private exchange offer. The Company retired an aggregate of $213.5 million in principal amount of its 11.25% senior notes due 2010 (the "Existing ...
Kowabunga Reports 2009 First Quarter Financial Results.
Jun 06, 2009 ... Kowabunga!®, Inc. (NYSE Amex: KOW) a provider of performance based advertising and technology solutions, announced its financial results for the first quarter of 2009, the period ended March 31, 2009. Richard K. Howe, our Chief Executive Officer stated, "We made ...
JF China Region Fund, Inc. Announces Results of Annual Meeting Stockholder Vote.(Financial report)
Jun 06, 2009 ... At the Annual Meeting of Stockholders of the JF China Region Fund, Inc. (NYSE: JFC) (the "Fund") held in New York, NY on May 14, 2009, stockholders voted to re-elect The Earl of Cromer to serve an additional three year term as a Director of the Fund. At that same meeting, stockholders ...
MuniMae Announces Closing in Sale of Agency Business.
Jun 06, 2009 ... Municipal Mortgage & Equity, LLC (OTC:MMAB) ("MuniMae" or "the Company,") announced that it has closed on the sale of its Agency lending operations to Oak Grove Commercial Mortgage LLC, a new company formed by Mud Duck Equities LLC. Under the two part transaction originally ...
Putnam Investments Launches Two Spectrum Funds That Invest in Leveraged Company Securities.
Jun 06, 2009 ... Putnam Investments announced that it has launched two new funds that collectively invest across the full spectrum of securities of leveraged companies, including stocks, bonds, bank loans, and convertible securities. Putnam Capital Spectrum Fund and Putnam Equity Spectrum Fund will both be ...
NIRI Releases 2009 Forward-Looking Guidance Practices Survey Results.
Jun 06, 2009 ... Survey data released by the National Investor Relations Institute (NIRI) indicates that despite the recent extraordinary economic downturn, survey respondents' public companies have generally made measured, rather than dramatic, changes to their forward-looking guidance policies. ...
LucidMedia Selected by Mid-Atlantic Venture Association to Present at Capital Connection 2009 Venture Capital Conference.(Conference news)
Jun 06, 2009 ... LucidMedia (www.lucidmedia.com), the online display advertising network and media management platform, announced that it has been selected from among hundreds of candidates to present at the this year's Mid-Atlantic Venture Association (MAVA) Capital Connection™ venture and private ...
Advance America Chooses VALID Systems for Its Innovative Check-To-Card Program.
Jun 06, 2009 ... VALID Systems announced that Advance America, Cash Advance Centers Inc. has used VALID's TLR100 check verification solution to enhance Advance America's new Check-To-Card program in 2,474 of its Centers in 28 states from coast to coast. This program, an alternative to check cashing, ...