JPMorgan Chase & Company (JPM) is in discussions to take full control of its U.K. joint-venture partner, Cazenove Group, for about £1 billion ($1.7 billion).   JPMorgan entered into a partnership with Cazenove five years ago. At that time, JPMorgan paid about £100 million for a 50% ownership in Cazenove.   Now, JPMorgan intends to buy the remaining 50% of the investment-banking partnership for 500−525 pence per share.   Chief Executive Naguib Kheraj, the former finance chief of Barclays PLC (BCS) is running JPMorgan Cazenove since last year. Cazenove first became one of London's leading stockbrokers in the mid-1930s.   Deciding on the full acquisition of Cazenove has been crucial for Jamie Dimon, CEO of JPMorgan. Dimon organized a similar purchase of the bank’s remaining stake in Highbridge Capital Management this year.   In the last few years, JPMorgan has been able to maintain its top ...

For Immediate Release

Chicago, IL – November 16, 2009 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: Nordstrom Inc. (JWN), Abercrombie & Fitch Co. (ANF), The Walt Disney Company (DIS), Wells Fargo & Company (WFC) and Bank of America Corporation (BAC).

Get the most recent insight from Zacks Equity Research with the free Profit from the Pros newsletter: http://at.zacks.com/?id=5513

Here are highlights from Friday’s Analyst Blog:

Nordstrom Ups Guidance, Post-Beat

High-end retailer Nordstrom Inc. (JWN) has reported strong third quarter 2009 results with net income of $83 million or 38 cents per share compared to $71 million or 33 cents per share in the year-earlier

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On Thursday, the Federal Reserve finally announced rules that will prohibit banks from charging overdraft fees at ATMs and one-time debit card transactions without the consent of customers. The rules, which will be effective July 1, 2010, appear in response to growing consumer dissatisfaction with the overdraft charges that they often do not realize until they receive their monthly statement. Banks previously added overdraft protection automatically to most accounts regardless of the amount that was withdrawn. According to the new regulations, consumers must be given a notice explaining a financial institution's overdraft services, including an explanation of the fees associated with the services. The Federal Reserve took this decision primarily based on its investigation which showed that banking customers only want overdraft services if they know the details of what is required. However, some consumers do want overdraft protection services to make sure that some time-sensitive ...

 

Dollar Financial Corporation (DLLR) said on Wednesday that it intends to offer $250 million aggregate principal amount of senior notes in a private offering through its indirect wholly owned subsidiary National Money Mart Company.  The senior notes will be guaranteed on an unsecured basis by Dollar Financial and some of its current and future direct and indirect wholly owned U.S. and Canadian subsidiaries. The company intends to use net proceeds from the senior notes offering to finance the acquisition of Military Financial Services, LLC by its wholly owned subsidiary, Dollar Financial Group, Inc.  The senior notes offering, which the company expects to start and close in Dec 2009, will be available only to qualified institutional buyers and certain offshore investors.  Concurrent with the senior notes offering, the company said on the same day that it is seeking an amendment and extension of the terms for its

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Phoenix-based NutraCea (NTRZ), a producer of stabilized rice bran and other baby cereals, had filed for protection under Chapter 11 of the U.S. Bankruptcy Code. The petition was filed in the U.S. Bankruptcy Court for the District of Arizona on Nov 10. The world leader in stabilized rice bran nutrient research and technology plans to restructure its operations with government aid. Pursuant to the bankruptcy code, the company will reshuffle its operations, trim overhead costs and dispose of non-core assets, while focusing on its core business of stabilized rice bran, rice bran oil, nutraceuticals and baby cereals. None of the company’s subsidiaries were party to the bankruptcy filing. Concurrent with the bankruptcy filing, the company applied for $6.8 million of loan from Wells Fargo Bank, a division of Wells Fargo & Company (WFC). This loan, along with the cash generated from operations, will help the ...

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Tuesday October 27, 2009

DrStockPick.com Stock Report!

TAXS, SCHW, PSFT, DISH, PWRM, MMM, CSRH, WFC, CVAT, JPM, AQNM

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TAXS, TaxMasters Inc., TAXS.OB

TAXS‘ commitment to helping taxpayers in the United States regain compliance with The Internal Revenue Service IRS.

TAXS finalized plans this week to take advantage of the expected surge in sales that begins for the IRS tax relief industry in October and builds through April of the following year. TAXS reported sales for the first six months in 2009 of $18,758,000, an increase of $12,348,000 or 193 percent, over 2008 sales for the same period of $6,410,000. TAXS used this growth

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Wells Fargo & Company (WFC) rendered a $75 million 3-year committed funding facility to Marlin Receivables Corp., an affiliate of Marlin Business Services Corp. (MRLN). Marlin Receivables intends to use the facility fund its growth, with an aim to extend increased flexible equipment financing options to numerous small and medium-sized businesses nationwide.  Marlin Business and Wells Fargo have had similar commitments in the past as well. The continued relation will benefit Marlin as it will bolster its financing base, thereby readily meeting the needs of many small businesses. Wells Fargo is the fourth largest financial services company in the U.S. (in terms of assets) with $1.3 trillion in assets and over $800 million in deposits.  The company provides retail and wholesale banking, mortgage banking, consumer finance, equipment leasing, insurance brokerage, agricultural finance, securities brokerage, trust, investment banking and other financial services through banking stores, the Internet ...

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Wednesday October 14, 2009

DrStockPick.com Stock Report!

PFE, PWRM, CSRH, MRK, CVAT, WFC, AQNM, WMT

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PFE, Pfizer Inc.

PFE engages in the discovery, development, manufacture, and marketing of prescription medicines for humans and animals worldwide.

PFE’s s $68 billion purchase of Wyeth will close Thursday after antitrust regulators in the U.S. and Canada cleared the deal.

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PWRM, Power 3 Medical Products Inc, PWRM.OB

Power3 Medical Products, Inc. is a leading bio-medical company engaged in the commercialization of neurodegenerative disease and cancer biomarkers, pathways, and mechanisms of diseases through the development of diagnostic tests and drug targets. Power3’s patent-pending technologies are being used to develop screening

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Citigroup Inc. (C) is planning a strategic shift in its investment advisory business by bringing qualified advisors from Citibank branches to provide fee-only investment advisory services instead of commission-based transactions.  The new strategy will give clients who want wealth management services through Citibank branches the option of working with Citi's own financial advisers, or of choosing external independent advisers with whom Citi will begin to form relationships, and who will pay Citi a referral fee.  Citigroup has a relatively small branch network and is starting off with a small brokerage. Citigroup is starting the business with 600 advisers who sit in 1,000 Citibank branches in the United States . Citi plans to eliminate all commission-based compensation by 2011.  The changes are expected to be implemented next year. Apart from providing clients with more transparency, a smaller risk of conflicts of interest and wider geographical footprint, ...

Ken Lewis, Chief Executive Officer and President of Bank of America Corporation (BAC), announced that he has notified the Board of Directors of his decision to retire, effective December 31, 2009. The Board will continue ongoing planning to ensure his successor is selected by that date. Lewis will retire both as CEO and as a director. On Aug. 3, 2009, Lewis, 62, had initiated changes to his executive management committee that increased the depth, expertise and diversity of experience of Bank of America's leadership team. Lewis had targeted these changes to position a number of senior executives to compete to succeed him at the appropriate time. Lewis' decision to retire adds to the uncertainty for a company that has been under attack by regulators and lawmakers since its controversial purchase of Merrill Lynch a little more than a year ago. The lack of a ...