| Zacks: Brokerage Firm’s Stock Recommendations Still Prove Profitable
"On average, most of the stock recommendations by the participating brokerage firms last year could be found in the insurance, drug and computer services/software industries," says Jim Licato, Senior Editor of Zacks.com, the online unit of Zacks Investment Research. The top 13 ranked brokerages for 2006(12/31/05 to 12/31/06) are as follows… .
Online investing in Canada is booming
(Special) - Each year, more and more Canadian investors are logging onto the internet sites of banks, financial institutions and discount brokerage companies to select, buy and sell stocks, bonds, mutual funds and other investments. "The word on the street is that the level of activity has increased," says Glenn LaCoste, President of Toronto-based Surviscor, a company that publishes a regular review of online brokerage companies. "Everybody's talking about new accounts and trading activity hitting record levels." Columnist Talbot Boggs. (CP) One reason for the increase in online trading is the low commissions charged by discount brokerages. A recent study by Surviscor found that trading commissions charged by online discount brokerage companies are falling and becoming more standardized across the industry, with average active online investors paying about 40 per cent less for a "basket" or group of trades than they did six months ago.
Forget salary, count on your bonus
MUMBAI: The deal-makers are ensuring that they get the best deal after all. Asset management companies (AMCs) and brokerages are two areas where employees are expected to get fat year-end paychecks. Some HR consultants say this could be twice the salary. Take for example HSBC. Sources close to HSBC securities say this year the number could even go to three times. The firm refused to comment when contacted. Stock analysts and fund managers are the prime candidates for huge bonuses — riding the highs of the equity markets. Throughout the year the equity markets have seen an uptrend and till recently the stock index has given returns to the extent of 30% over the last one year, before the markets crashed, after the budget. "Bonus in private equity and investment banking could be anywhere from 100-200 % of the fixed salary, depending on the deals.
NASD Says Margin Buying Jumps to Record High: $321.2 Billion
As thousands of homeowners are realizing it's unwise to borrow more than they can afford, the NASD is offering a similar warning to investors: It's risky to invest more than you have. The brokerage regulator said that the amount of debt that investors took on to buy securities, known as buying "on margin," had soared to a record $321.2 billion in February. That topped the previous record of $299.9 billion in March 2000, at the peak of the last bull market in stocks. Margin debt has more than doubled from $141.3 billion in January 2003, the NASD said, three months after the bottom of a bear market in stocks. With a margin account, investors can borrow money from a brokerage to buy securities. Investors must pay back what they borrow, plus interest, even if their investments lose value.
Sector Snap: E-Brokers
A BMO Capital Markets analyst late Tuesday initiated coverage of Internet stock brokerages, saying they are benefiting from retail clients who want more tools for investing on their own. These "e-brokers" target mass affluent clients, or clients who are too rich to leave their money in a commercial bank but not quite rich enough to invest in a hedge fund or investment bank. BMO Capital Markets analyst Michael Vinciquerra initiated coverage of Omaha, Neb.-based TD Ameritrade Holding Corp. with an "Outperform" rating. He said TD Ameritrade is well positioned to benefit from investors' desire for help managing their own assets. Vinciquerra's price target of $23.50 is more than 50 percent higher than the stock's close at $15.31 Monday on the Nasdaq Stock Market.
UPDATE 1-Friedman Billings' REIT unit files for IPO
WASHINGTON, April 10 (Reuters) - FBR Capital Markets Corp., the investment banking and institutional brokerage firm of Friedman Billings Ramsey Group Inc. (FBR.N: Quote, Profile, Research), filed with regulators on Tuesday for an initial public offering. Plans call for the sale of up to 13.5 million shares of common stock at an estimated price of $16 to $18 each, according to a registration statement filed with the U.S. Securities and Exchange Commission. FBR Capital Markets was formed in June as the holding company for FBR Group's capital markets business, including investment banking and institutional brokerage and research, and asset management businesses. FBR Group is underwriting the IPO, the filing said. FBR Capital Markets has focused its business on providing capital raising services, strategic advisory services, institutional sales and trading services, research coverage, asset management services, and proprietary investment returns through merchant banking.
Buffett's railroad investment good news for CN
MONTREAL - Stock in Canadian National Railway Co. surged by more than five per cent Monday along with other North American railways on news super investor Warren Buffett has made a big bet on the sector. Buffett's investment vehicle, Berkshire Hathaway Inc., has become the largest shareholder in U.S. railroad Burlington Northern Santa Fe Corp., according to a filing with the U.S. Securities and Exchange Commission. Berkshire bought 1.6 million shares of Burlington Northern, the second-largest U.S. railway, for more than $81 a share, according to the filing. .
Apollo Management, LP Completes Acquisition of Realogy Corporation
PARSIPPANY, N.J.--(BUSINESS WIRE)--Realogy Corporation today announced the completion of its merger with an affiliate of Apollo Management, L.P. The transaction was consummated at an aggregate enterprise value of approximately $8.5 billion. Realogy stock will cease to trade on the New York Stock Exchange before the opening of the market today. Under private ownership, Realogy will no longer be listed on the NYSE. Pursuant to the terms of the merger agreement entered into on December 15, 2006 and adopted by Realogy's stockholders at a special meeting on March 30, 2007, Realogy stockholders are entitled to receive $30.00 in cash for each share of Realogy common stock that they hold. The conversion of shares of stockholders who hold Realogy shares through a bank or broker will be handled by the bank or broker.
TrustCo Bank Ranked Sixth Among 200 Industry Peers for Returns
GLENVILLE, N.Y.--(BUSINESS WIRE)--TrustCo Bank (Nasdaq: TRST) earned its place at number six among industry peers in the latest edition of US Banker magazine, a monthly magazine for financial institution executives, which ranked the top 200 mid-tier banks according to the institutions' 3-Year average returns on equity. "This is an honor that reinforces the strength of our employees' customer relationships and our financial products, which help people build wealth," said Robert J. McCormick, CEO and president of Glenville, N.Y.-based TrustCo Bank. According to US Banker, the top 32 banks boasted three-year average returns on equity of at least 17 percent. TrustCo Bank's three-year average return on equity was reported to be 23.66 percent. U.S.
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