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Prudential Financial reported 2009 year-end earnings of $3.411 billion, or $7.63 per common share, a sharp improvement from the $1.14 billion loss, or $2.53 per common share, in 2008.
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ProFunds Group has launched eight exchange-traded funds that are three times long or three times short five of the most traded broad U.S. market indexes: the Nasdaq 100, Dow Jones Industrial Average, S&P MidCap 400 and Russell 2000. Last year, ProShares Advisors, advisor to the funds, launched plus and minus 3x exposure to the S&P 500.
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Commodities, particularly precious metals funds, have been big sellers in recent months, but their good fortune reversed in January, when seven of the worst-performing mutual funds turned out to be concentrated on mining stocks.
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While many providers jumped off the variable annuity bandwagon, Sun Life has decided to increase sales.
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Investors poured money into long-term mutual funds for the 47th straight week, taking in $7.07 billion in the week ended Feb. 3, the Investment Company Institute said. Sales in the period, now nearing a year, now total $470 billion.
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FaithShares Advisors believes investors can have faith and strong financial performance. And now the firm has the initial returns from its Christian exchange-traded funds to prove it.
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The business model for independent brokerage firms is under threat, calling into question the livelihood of over 178,000 registered representatives.
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The financial crisis has made a permanent impression on American consumers, who are likely to save 6% or more of their income over the next decade, translating to as much as $800 billion stashed away each year, according to a new study by Allianz Group.
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MetLife Inc. plans to pay American International Group Inc. $8 billion in stock and the remainder in cash for American Life Insurance Co., as the two sides negotiate what could be a roughly $15 billion deal, reports Marketwatch.
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WASHINGTON With the economy showing signs of recovery, Federal Reserve Board Chairman Ben Bernanke gave more clues Wednesday to how the central bank will return to normal and made clear that financial institutions are central to his plans. Federal Reserve Board, Ben Bernanke, House Financial Services Committee, Rajeev Dhawan, Economic Forecasting Center
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