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StreetInsider.com Insiders' Edge Newsletter 06-08-09

 
 StreetInsider.com - Insiders' Edge

TARP Payback Approval Expected Soon 

 

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The Obama administration could announce as soon as today which of the nation's largest banks will be allowed to repay TARP funds. It is expected that as many as nine of the nineteen banks subjected to the stress test could be deemed adequately capitalized even after returning the funds.

Among those that could be allowed to return TARP funds includes: Goldman Sachs (NYSE: GS), J.P. Morgan Chase (NYSE: JPM), American Express (NYSE: AXP), BB&T Capital (NYSE: BBT), Bank of New York Mellon (NYSE: BK), Capital One (NYSE: COF), US Bancorp (NYSE: USB) and State Street (NYSE: STT). All of these companies passed the government's stress test and some have raised additional capital since then to boost their Tier 1 Common capital ratios.

CONTINUE READING>>>>

StreetInsider.com's News You Should Know:

1. Apple Introduces New iPhone 3G S - "S" Stands for "Speed"

At the Worldwide Developers Conference currently being held in San Fransisco, Apple (Nasdaq: AAPL ) has just unveiled a completely new, faster iPhone.CONTINUE READING>>>>

2. Texas Instruments (TXN) Raises Q2 Sales, EPS Outlook

Texas Instruments (NYSE: TXN ) raises its Q2 sales guidance from $1.95-$2.4 billion to $2.3-$2.5 billion, which compares to the Street estimate of $2.21 billion.  CONTINUE READING>>>>

3. Shares of Palm (PALM) Slip Following Pre's Weekend Release

Following the release of its highly-anticipated Pre this weekend, shares of Palm (Nasdaq: PALM ) are tumbling this morning as traders may be using the launch as a "sell-the-news" event. The stock most recently traded at $11.60, down nearly 11% from Friday's close. CONTINUE READING>>>>

4. 10 Stocks Taking Care of Investors: No. 10 McDonald's (MCD)

These 10 stocks have been rewarding investors with share buybacks, strong dividends, sales/earnings and stock performance and are worthy cornerstones of any portfolio. You can track the entire series here. Number 10: McDonald's (NYSE: MCD ).CONTINUE READING>>>>

5. Barclays (BCS) Talking With BlackRock and Others About BGI

Barclays (NYSE: BCS) confirmed today that it has held discussions with a number of parties, including with BlackRock (NYSE: BLK ), about both iShares and whole Barclays Global Investors . CONTINUE READING>>>>

6. Trading Radar for 6/8: SINA (SINA), 99 Cents Only (NDN), Movado (MOV), Pep Boys (PBY), Talbots (TLB) Report; Wholesale Inventories Due

The Trading Radar highlights key earnings and economic announcements for tomorrow's trading session : CONTINUE READING>>>>

7. Fed Said 10 Banks With Capital Shortfalls Have Submited Capital Plans

The Federal Reserve said the 10 banking organizations required by the Supervisory Capital Assessment Program to bolster their capital buffers have all submitted capital plans that, if implemented, would provide sufficient capital to meet the required buffer under the assessment's more-adverse scenario. As supervisors, we will be working with the institutions to ensure their plans are implemented quickly and effectively.  CONTINUE READING>>>>


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Rating To Watch - Triumph Group (TGI)

Broadpoint.AmTech is making a short-term trading call on Triumph Group, Inc. (NYSE: TGI), calling the stock "way too cheap!" The firm reiterates their price target and $57 price target.

Analyst Peter Arment notes, "We continue to believe that many aerospace suppliers can support much higher trough earnings valuations based on a recovery commencing in 2010. GR remains our top pick to play the aftermarket trough in 2009. TGI also has aftermarket exposure topping 30% of sales. However, TGI shares have not enjoyed the same recovery as GR shares as of late.
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