SAC Is Going Down, but Does This Help Main Street?

Yesterday U.S. Attorney General of the Southern District of New York, Preet Bharara, achieved what many think is his greatest ambition when he charged SAC Capital Advisors and by association their founder, Steven A. Cohen, with criminal responsibility for insider trading. For the record, SAC pled innocent on Friday. The point is largely moot. SAC […]

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5 More Reasons You’ll Be Cutting Your Cable TV Cord Next Year

The past decade has seen an explosion of new ways to watch TV shows and movies, challenging the old cable television model. But 90% of American households still pay up. And less than 5 million U.S. viewers rely solely on services such as Netflix (NFLX) and Hulu, according to the Convergence Consulting Group. But cable […]

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5 More Reasons You’ll Be Cutting Your Cable TV Cord Next Year

The past decade has seen an explosion of new ways to watch TV shows and movies, challenging the old cable television model. But 90% of American households still pay up. And less than 5 million U.S. viewers rely solely on services such as Netflix (NFLX) and Hulu, according to the Convergence Consulting Group. But cable […]

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Detroit Bankruptcy a Game-Changing Event: Meredith Whitney

It’s been just over a week since Detroit filed for the largest municipal bankruptcy in U.S. history and, so far, there are more questions than answers about how this will all shake out. On Wednesday, a U.S. Bankruptcy judge ruled Detroit’s Chapter 9 filing can proceed but local unions, pension funds and other creditors will […]

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SAC Capital Pleads Not Guilty to Insider Trading Charges

SAC Capital Pleads Not Guilty to Insider Trading ChargesReuters Steven Cohen’s hedge fund, SAC Capital Advisors, pleaded not guilty to insider trading charges in federal court … From: http://us.rd.yahoo.com/finance/news/rss/story/SIG=14hua6tt5/*http%3A//us.rd.yahoo.com/finance/news/topfinstories/SIG=12ebhomgb/*http%3A//finance.yahoo.com/news/sac-capital-pleads-not-guilty-145028187.html?l=1

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Starbucks Beats on Stronger Sales, Lower Costs; Shares Soar

NEW YORK (AP) — Starbucks says its profit climbed 25 percent in the quarter as caffeine-addicted customers helped boost sales and the company paid less for coffee costs. The results topped Wall Street expectations and Starbucks’ shares were up almost 7 percent in aftermarket trading. The Seattle-based chain, which has more than 19,000 locations around […]

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DOJ expects to charge SAC Capital on Thursday: source

By Matthew Goldstein and Emily Flitter NEW YORK (Reuters) – Federal prosecutors are continuing to look for ways to build a criminal case against billionaire trader Steven A. Cohen at the same time as they prepare to announce criminal charges against his hedge fund on Thursday, people familiar with the investigation said. Charges of securities […]

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Euro surveys lift shares after China disappoints

By Richard Hubbard LONDON (Reuters) – Evidence of an economic revival in the euro zone and strong sales from technology bellwether Apple lifted world shares and the euro on Wednesday, offsetting earlier disappointing factory data from China. Factories in the currency bloc increased output for the first time in well over a year, July’s PMI […]

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China’s ‘Easy Money’ Gesture Raises Stocks, for Now

Chinese stocks rose the most today since July 11 after Chinese press reports indicated the government sees 7% growth as the bottom line it will tolerate for economic growth. That’s according to Bloomberg. There was some confusion among Chinese press reports as to what exactly the growth threshold is (conflicting reports indicated 7.5%)… and it […]

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Netflix Gains 630K Subscribers as 2Q Earnings Soar

SAN FRANCISCO (AP) — Netflix’s second-quarter earnings more than quadrupled as the revival of the comedy series “Arrested Development” attracted more subscribers. Despite the financial gains, the report released Monday flopped on Wall Street because the return of new “Arrested Development” episodes after a seven-year absence didn’t add as many U.S. subscribers as many investors […]

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