U.S. bailout package will spark inflation and shift the burden to foreign investors: CIBC World Markets

Inflation will be further stoked by growing oil supply crunch

CIBC (CM: TSX; NYSE) - To pay for its multi-trillion dollar bailout and stimulus packages, the Obama administration will print money at an unprecedented rate, a course that will drive up inflation and drive down the greenback while shifting a large part of the financial burden onto foreign investors, finds a new report from CIBC World Markets.

The report predicts that like Argentina in the late 1980s and Zimbabwe today, the U.S. government will simply create more money to fund its plans. "If the central bank prints it, someone will spend it," says Jeff Rubin, chief economist and chief strategist at CIBC World Markets.

Published: 23 January 2009
Written by Editor
TSX   NYSE   Up on News   Financial   Research  
Read more: CIBC ( CM )

Knight Capital Group Announces Earnings of $0.89 Per Diluted Share for the Fourth Quarter 2008

Knight generated pre-tax earnings from operations of $89.5 million, or $0.56 per diluted share, which excluded a pre-tax gain of $51.6 million, or $0.33 per diluted share, from the partial sale of Knight's ownership stake in Direct Edge Holdings

Global Markets generated fourth quarter 2008 revenues of $316.9 million and pre-tax income of $125.8 million, representing increases of 43% and 58%, respectively, from the fourth quarter 2007; Performance driven by gains in market share, historic market volatility, intense trading activity and contributions from new electronic products and asset classes

Asset Management recorded fourth quarter 2008 pre-tax loss of $5.7 million, compared to fourth quarter 2007 pre-tax loss of $426,000, amid industry-wide deleveraging and steep declines in the major market indexes

Published: 22 January 2009
Written by Editor
Nasdaq   Financial Results   Up on News   Financial  
Read more: Knight Capital Group Inc ( NITE )

Northern Trust Corporation Reports Record Fourth Quarter Operating Earnings of $1.39 per Common Share, up 43%.

- Fourth Quarter Reported Earnings Were $1.47 Per Common Share -

Northern Trust Corporation (Nasdaq: NTRS ) today reported fourth quarter net income per common share of $1.47 compared with net income per common share of $.55 reported in the fourth quarter of 2007. Net income was $342.3 million compared with net income of $125.0 million in the fourth quarter of last year. Operating earnings were $323.3 million, or $1.39 per common share, compared with operating earnings of $219.2 million, or $.97 per common share, in the fourth quarter of last year.
Published: 21 January 2009
Written by Editor
Nasdaq   Financial Results   Up on News   Financial  
Read more: Northern Trust Corporation ( NTRS )

BMO Bank of Montreal Decreases Mortgage Rates

BMO Bank of Montreal today announced it is decreasing its residential mortgage rates. BMO's special mortgage offer on a five-year fixed rate drops to 4.49%, and is currently the lowest available market rate for a five-year fixed term. The new rates are effective January 21, 2009.

    The new rates are:

    Variable Rates:                 To:        Change:
    3 year open                    4.00%       -0.50%

    Homeowner ReadiLine(R)
    5-year variable rate closed
    term                           4.00%       -0.50%

    Fixed Rate Special              To:        Change:
    Offer*:
    5 Years (fixed/closed)         4.49%       -0.30%
    >>

Published: 20 January 2009
Written by Editor
TSX   Down on News   Financial  
Read more: Bank of Montreal ( BMO )

TD AMERITRADE to Acquire thinkorswim

TD AMERITRADE (NASDAQ: AMTD) and thinkorswim Group Inc. (NASDAQ: SWIM) today announced that they have entered into a definitive agreement for TD AMERITRADE to acquire thinkorswim in a cash and stock deal valued at approximately $606 million as of Jan. 7, 2009.(2) This acquisition underscores TD AMERITRADE’s position as a successful industry consolidator.

thinkorswim is among the fastest growing online brokerage firms and has unique trading and investor education capabilities, particularly for the fastest growing segment of the industry – options trading.(3)

Published: 08 January 2009
Written by Editor
Nasdaq   M & A   Up on News   Financial  
Read more: thinkorswim Group Inc ( SWIM )
  1. Bank of Montreal ( BMO )
  2. CIBC ( CM )
  3. Bank of Montreal ( BMO )
  4. Toronto Dominion Bank ( TD )
  5. Northbridge Financial Corporation ( NB )