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News Update: Bank of America (NYSE: BAC) Combines Global Card Services With Deposits

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3/2/2010-Bank of America (NYSE:BAC) announced Tuesday that it is combining the leadership of the Global Card Services and Deposits under Susan Faulkner. The combined business will report to Joe Price, president of bofa’s Consumer, Small Business & Card Banking. Ric Struthers decided to leave the company, but will stay on to help with transition. Shares of Bank of America are trading slightly lower Tuesday, down $0.1% to $16.69.

Earnings Report: Domino’s Pizza (NYSE: DPZ) Beats Q4 Estimates, Top Line Up 8%

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3/2/2010- Domino’s Pizza (NYSE:DPZ) reported fiscal Q4 EPS of 30 cents, ahead of the consensus estimates of 25 cents per share. Revenues for the quarter rose 8.1% year-over-year to $462.9 million, topping the consensus estimates of $437.5 million. Same store sales, or sales at store open for at least one year, rose 1.4% and rose 3.9% internationally. The company sees retail growth of 4% to 6% and same store sales of 1% to 3%. Chairman and CEO David A

News Update: The Bachelor: On the Wings of Love, Dominates Monday Night Ratings (DIS,CVC)

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3/2/2010-According to preliminary reports, Disney (NYSE:DIS) subsidiary abc’s The Bachelor: On the Wings of Love dominated Monday night ratings. The two-hour final episode earned 15.5 million viewers. The news comes amid an interesting fee battle between Cablevision (NYSE:CVC) and Walt Disney (NYSE:DIS), which was triggered Monday when Disney warned that it might impose a blackout of ABC in New York for Cablevision subscribers. “It is shocking that in these difficult economic times, ABC Disney is threatening to remove WABC unless Cablevision and its customers pay $40 million in new fees for programming that it offers today for free, both over-the-air and online,” said Cablevision Executive Vice President Charles Schueler

Citigroup Sees Dilution to Longer-Term Returns at Equinix (NASDAQ: EQIX)

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2/23/2010-Citigroup maintained its Hold rating on Equinix (NASDAQ:EQIX) but adjusted its price target lower, from $110 to $106. Analyst Michael Rollins said, “Our study of ongoing capital spending intensity shows the potential for higher capital intensity than long-term guidance, which is dilutive to our valuation analysis. However, we believe returns for the business model remain on a solid footing and we may revisit our thesis if the share price pulls back to the $80-90 range given the support levels implied by our discretionary FCF/share analysis. Prefer Buy-rated Cogent with upside potential to FY10 consensus revenue with exposure to growth from both its enterprise & data center (net-centric) segments.” Rollins continued, “Our bottom-up analysis of capital spending coupled with our analysis of gross PP&E suggests that capital spending for the existing portfolio is likely to stay in a range between 7% and 10% of revenue over time, implying an economic useful life of 20-32 years, versus EQIX guidance of 5% or a useful life of 40 years.” The bank expects the company to report 2010 EPS of $2.07, versus consensus estimates of $2.06.

The Fly On The Wall Market Snapshot: Feb 22, 2010

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It’s Monday, February 22, 2010. At this hour, US equity futures are trading higher. Overseas, the Asian markets were mixed, while the European markets are also mixed. Today’s UPGRADES include: Viacom (VIA.B) upgraded to Buy from Hold at Deutsche Bank…Skyworks (SKWS) upgraded to Buy from Hold at Deutsche Bank…US Bancorp (USB) upgraded to Buy from Neutral at Rochdale. DOWNGRADES: lifepoint Hospitals (LPNT) downgraded to Market Perform from Outperform at Wells Fargo. Evergreen Solar (ESLR) downgraded to Underweight from Equal Weight at Barclays. LDK Solar (LDK) downgraded to Underweight from Equal Weight at Barclays Hot News: Schlumberger (SLB) and Smith International (SII) jointly announced that their boards of directors have unanimously approved a definitive merger agreement in which the companies would combine in a stock-for-stock transaction…Sears’ (SHLD) Craftsman brand will now be sold through Ace Hardware stores, beginning in May…Novartis (NVS) announced that Menveo, a vaccine was approved by the FDA for active immunization to prevent invasive menin-goc-o-ccal disease caused by Nees-seria meningitis in people 11 to 55 years of age…Amgen (AMGN) announced that the FDA has evaluated the content of the company’s Complete Response submission for Prolia, denosumab, in the treatment of postmenopausal osteoporosis and classified it as a Class 2 resubmission

News Update: Morgan Stanley Says Gen-Probe Guidance Was As Expected Ahead Of Key Pipeline Year

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Morgan Stanley analysts said that Gen-Probe Inc.’s (NASDAQ:GPRO) guidance was as expected ahead of a key pipeline year. Analysts David R. Lewis, Marshall Urist, Neha Sahni, and Jennifer Liu said, “2010 guidance as well as 4Q results were more or less in line with expectations as blood screening continues to show signs of stabilization. 4Q09 revenues of $139 mn were modestly better than our estimate of $137 mn from stronger-than-expected TIGRIS blood screening shipments ($6 mn vs. MS $3.5 mn). Negative instrument mix dragged on gms (-130 bps vs. MS estimate) brought EPS in line with MS at $0.52 but ahead of consensus of $0.50. We are encouraged by 100 bps of leverage on R&D in 2010, given the focus on the company’s level of investment, which will help to fund needed investments in the European commercial channel ahead of the Panther launch. The pipeline and particularly HPV remain key to the story.” Morgan Stanley maintains an “equal weight” rating on the stock. The bank sees fiscal 2009 EPS of $1.88, vs. the consensus estimates of $2.18, and fiscal 2010 EPS of $2.09, vs. the consensus estimates of $2.49.

Market Close Wrap-Up: Feb 18, 2010

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Last updated February 18, 2010: 4:10 PM ET — The major US equity indices closed higher Thursday as stronger regional manufacturing data offset concerns about unemployment and a weak report from Wal-Mart (NYSE:WMT). The Labor Department showed initial claims for jobless benefits rose by 31000 to 473000 last week. The producer price index for finished goods rose a seasonally adjusted 1.4% in January. The Federal Reserve Bank of Philadelphia said that mid-Atlantic manufacturers posted better-than-expected improvement this month. The index rose to 17.6 in February, up from 15.2 in January. In corporate news, Dell (NASDAQ:DELL) reported Q4 EPS of $0.28, beating consensus estimates by a penny. Sales in thequarter rose 11% year-over-year to $14.9 billion, and came in ahead of consensus estimates of $13.9 billion. Shares of Intuit (NASDAQ:INTU) are trading 3.5% higher to $31.40 after hours Thursday after the company reported fiscal Q2 EPS of $0.38, besting consensus estimates of $0.32. Revenues for the quarter rose 8% year-over-year to $837 million, topping consensus estimates of $814 million. The Dow Jones Industrial Average (DJI) closed 0.81% higher at 10392.90, the S&P500 (INX) closed 0.66% higher at 1106.75, and the Nasdaq Composite (IXIC) closed 0.69% higher at 2241.71.

News Update: Mobile World Congress

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Barclays Wireless Equipment analyst Jeff Kvaal said that the company’s management was optimistic about its opportunity in the growing GGSN market following the Starent acquisition. Barclays said they see Cisco well positioned “for a win at AT&T (NYSE:T)” later this year. Kvaal made the following statement, “Pushing the adoption of the new ASR 5000 product line acquired via Starent is a main theme for Cisco at the show. On its own, Starent is able to help carriers manage their data traffic growth by: 1) rationing bandwidth to high usage subscribers or applications such as file sharing, and 2) offloading traffic to wifi or femto networks. We consider DPI, like what Allot provides, to be important here. In addition, Cisco believes it can use the ASR5000 to bring content closer to customers, perhaps via a CDN or even UCS. We believe Cisco is well positioned for at&t’s Evolved Packet Core RFP.”

Market Close Wrap-Up: Feb 8th, 2010

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The major US equity indices closed lower Monday on concerns about debt loads in Europe. The Dow Jones Industrial Average closed below 10000 for the first time in three months. Greece’s finance minister said that the government is preparing to boost some taxes in order to shore up its finances.

Market Close Wrap-up Jan 25, 2010 : Bernanke, Apple (NASDAQ:AAPL)

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The major US equity indices closed higher Monday as momentum shifted in favor of the reappointment of Federal Reserve Chairman Ben Bernanke. Traders believe that if Bernanke remains in control of the Fed, a shift in interest rate policy would be far less likely. The National Association of Realtors said sales fell 16.7% to a seasonally adjusted annual rate of 5.45 million, which raised doubts about the economic recovery. In corporate news, Apple (NASDAQ:AAPL) reported Q1 EPS of $3.67, vs. consensus estimates of $2.04.