Michael Holland News
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Moore Capital Management LP and Appaloosa Management LP are among hedge fund firms that counted Citigroup Inc. among their top holdings before the bank posted a 16 percent rally in a month and a half.
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Greenhill & Co., the merger adviser GrainCorp Ltd. hired to consider Archer-Daniels-Midland Co.’s bid, is itself a potential target for firms looking to add banking expertise on optimism deal-making will resurge.
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Emerging-market stocks advanced, paring a monthly decline in the benchmark index, as energy companies rose on speculation monetary stimulus from India to Europe and the U.S. will bolster economic growth.
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China’s weakening economic expansion and slowing earnings growth in the U.S. sent copper into a bear market and gold to the biggest weekly drop in a year and a half, while global stocks fell the most in 10 months.
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The six biggest U.S. banks are projected to post a 34 percent increase in first-quarter profit. That may fail to prolong an 18-month rally in their shares as the firms struggle to boost revenue.
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A newly elected Democratic president pushes a controversial tax increase through Congress without a single Republican vote. A veteran Federal Reserve chairman holds short-term interest rates at record lows. And the economy struggles to recover from a financial crisis.
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Even after U.S. stocks more than doubled in the four-year bull market, companies in the Standard & Poor’s 500 Index are cheaper than at any record high since 1980 as individual investors shun equities.
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Wall Street junk-bond underwriters, selling debt at a record pace after the securities returned 19 percent last year, say it’s obvious that prices will drop when interest rates rise. So don’t blame the banks.
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Wall Street investment banks, loathed by investors in 2011 and hobbled by weak trading last year, are poised for a return to the spotlight.
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When Facebook Inc. filed its proposal Feb. 1 to go public, it touted the effectiveness of ads linked to customers’ friends, citing research from Nielsen, the audience-counting company.
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