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(EMAILWIRE.COM, December 22, 2009 ) Windsor, Ontario - FreeHotPennyStocks.com, an online financial publication, provides investors timely stock market alerts. If you are interested in penny stocks that are poised to breakout sign up for our free penny stock newsletter. Each day we send out alerts on different hot penny stock picks. For more FREE ALERTS SIGN UP AT http://www.freehotpennystocks.com
Maxim Group upgrades City National Corp. (CYN) to hold from Sell following the news that CNY is acquiring most of the assets and deposits of failed Imperial Capital Bank from the FDIC. The firm estimates the transaction could add $0.17 to CYN's annual EPS, the key swing factors being margin yield credit costs on loans that the company is assuming. According to the press release, CYN is acquiring $3.4 bln of IBPC's $4 bln in assets, and $2.2 bln in deposits out of IBPC's total $2.5 bln in deposits. The firm notes that the acquisition offers overlap, and thus the potential for substantial savings. While it also includes $400 mln in construction loans, $1.6 bln in residential mortgages, and $600 mln in commercial real estate loans, the firm anticipates that there will be no provisions against these in the near term, given they will be marked-to-market under FAS 141R. After the news shares rose nearly 15 percent on well above average trading volume.
Thomson (TMS) surged by 15 cents, or 12.4%, to $1.36 in the premarket session after the company's restructuring plan is approved by the Suppliers' committee and the Lenders' committee. The shares traded up to $1.54 or 26 percent on above average trading.
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