US Farms, Inc. Engages Ascendiant Securities for Investment Banking Services
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US Farms, Inc. (OTCBB: USFI) today announced its engagement of Ascendiant Securities LLC, a nationally ranked investment banking firm and registered broker-dealer. Ascendiant will, on a best efforts basis, introduce US Farms, Inc.
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JPMorgan Fleming Asset &amp; Wealth Management on Monday said it plans to buy a majority interest in and enter into a partnership with Highbridge Capital Management, a hedge funds manager, to bolster its presence among hedge funds and
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Advanced Equities Financial Corp., a  Chicago-based investment firm, said on Thursday it agreed to  buy FAS Holdings Inc. and First Allied Securities Inc. from No.  5 U.S. bank Wells Fargo & Co. WFC.N, moving to expand its  retail brokerage business.
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This investment banking specialist has been aggressively growing its business over the past year.
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(InfoWorld) - Claiming Bloomberg and the Bloomberg TerminalÂ  lock customers in with a proprietary workstation and software accessed on an archaic keyboard, and that Bloomberg offers a deep but very narrow selection of financial feeds, Salesforce.com will announce on Tuesday a competitive Wealth Management EditionÂ  of its SaaS (Software as a Service) application for use by wealth management professionals. Salesforce.com will also announce that Merrill LynchÂ  will deploy the Wealth Management Edition to its 25,000 financial advisors. In addition, the company is partnering with Cisco SystemsÂ  to deploy a VoIP phone with the wealth management solution for dialing customers within the context of the application.Â  The major benefit to professionals using the Salesforce wealth management system is its integration capabilities of customer information with data services in real time, according to Kendall CollinsÂ , senior vice president, product marketingÂ  at Salesforce. Contextual relevance between market news and customers owning shares in a stock that is suddenly showing signs of movement would allow a manager to pull up a list of all clients who have a holding or interest in that stock and take an action, such as send an email, or execute a standing buy or sell order.Â  According to Collins, Bloomberg is unable to match that capability. "Bloomberg has moved slowly with the Internet," Collins said. But the question is whether or not Bloomberg is to Kodak as Salesforce is to digital photography? Denis PombriantÂ , principal at Beagle ResearchÂ , thinks so. Pombriant says a similar comparison could be made with any disruptive technology, minis and mainframes, PCs and minis. "The problem for anyone being disrupted is they have a huge sunk cost in their existing products. However, it is a question of whether or not they want to do a creative destruction of their own product or have somebody else do it for them," Pombriant said. The Wealth Management Edition will be delivered on the same upgrade and release schedule as other Salesforce products. The new application is still part of its multi-tenant architecture and is based at code level on one executable, Collins said.Â  Salesforce hopes to leverage the fact that the financial services market is fairly fragmented. With over 3.8 million financial advisors, Bloomberg has the largest market share with only 240,000 Bloomberg workstations deployed. The Salesforce wealth management system was co-designed with Merrill Lynch. Pombriant called the announcement significant, pointing out that it is the first concrete demonstration that the SaaS platform is real and that the so-called long tail of SaaS is not just about smaller applications or applets. "We are talking about a big sophisticated application that companies typically built in-house because they couldnât find the expertise from vendors," Pombriant said. Salesforce will continue to roll out additional solutions for the financial services industry, including a Banking Edition, Capital Markets, Insurance, and Mortgage editions, Collins said. The Wealth Management Edition will be priced at $500 per user, per month and will be available in the third quarter.
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Bank of America Corp.  said on Monday it completed its $3.3 billion purchase of the U.S. Trust business from Charles Schwab Corp. , and is defying analyst concern that it would have trouble retaining many of U.S. Trust's ultra-wealthy clients.
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Smithfield Foods Inc. (SFD.N: Quote, Profile, Research) , the largest US pork producer, on Tuesday posted a 61 percent rise in quarterly earnings due to strong hog prices and the purchase of Farmland Foods last year.
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U.S. stocks were expected to nudge  higher at Tuesday's open with fourth-quarter earnings from  investment banks Morgan Stanley MWD.N and Bear Stearns Cos.  Inc. BSC.N taking center stage.
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Paulson Investment Company, Inc., a wholly-owned subsidiary of Paulson Capital Corp. (NASDAQ: PLCC), today announced its completion of an initial public offering for Converted Organics Inc. (NASDAQ: COIN) (NASDAQ: COINU) (NASDAQ: COINW) (NASDAQ: COINZ), raising gross proceeds of $9,900,000.
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The brokerage firm and investment bank will report its  third-quarter earnings before the market opens. The stock  closed at $ 90.09 on Tuesday on the New York Stock Exchange.
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Berkshire Hathaway Inc.  has increased its stake in USG Corp.  to 19 percent after acquiring another 1.1 million shares, according to a filing with the Securities and Exchange Commission on Friday.
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Orange Countyâs board of supervisors put the investment bank on its list of firms qualified to provide it with underwriting services.
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In an effort to protect investors, the leading private-sector provider of financial regulatory services, the NASD, routinely scans the investment horizon and issues Investor Alerts when potential abuses pop up.
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The spinoff of the investment banking division is a smart way to capitalize on the boom in the markets.
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The company will begin offering its employees in the United States specialized savings accounts for training and education.
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JPMorgan Fleming Asset & Wealth  Management on Monday said it plans to buy a majority interest  in and enter into a partnership with Highbridge Capital  Management, a hedge funds manager, to bolster its presence  among hedge funds and attract a broader audience of investors  to hedge funds.
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Bear Stearns Cos. Inc.  on Friday said it would provide up to $3.2 billion in financing for a struggling hedge fund it manages, raising concern about other funds that invested in bonds linked to subprime mortgages.