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Stock Market & Financial Investment News

News Breaks
January 14, 2013
15:29 EDTAA, TIF, HBAN, WFCStocks with decreasing option implied volatility; AA TIF HBAN WFC
News For AA;TIF;HBAN;WFC From The Last 14 Days
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September 29, 2014
16:37 EDTTIFLone Pine Capital reports 5.3% passive stake in Tiffany
07:58 EDTWFCWarren calls for hearing on 'disturbing' Fed tapes, Reuters reports
Two members of the the Senate Banking Committee, Democrats Elizabeth Warren and Sherrod Brown, called for an investigation into the issues raised by secretly taped conversations between officials at Goldman Sachs (GS) and supervisors at the New York Federal Reserve, reported Reuters. Other large U.S. banks include Bank of America (BAC), Citigroup (C), JPMorgan (JPM), Morgan Stanley (MS), U.S. Bancorp (USB) and Wells Fargo (WFC). Reference Link
07:15 EDTWFCNational Association of Business Economics to hold annual meeting
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September 25, 2014
15:10 EDTWFCHolder resignation as AG positive for banks, says Rafferty Capital
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14:58 EDTAAAlcoa October volatility elevated into Q3 and outlook
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06:58 EDTAAAlcoa estimates raised ahead of earning on higher aluminum prices at Stifel
Stifel raised Alcoa's Q3 EPS estimate to 24c from 20c, vs. consensus of 20c, 2014 EPS to 70c from 67c, vs. consensus of 64c, and 2015 EPS to $1.25 from $1.05, vs. consensus of 87c, reflecting higher aluminum prices. The firm believes price strength has been due to rising demand and producer discipline. Shares are Buy rated with a $20 price target, up from $17.
September 24, 2014
15:04 EDTWFCGoldman, other banks near deal to buy Bloomberg messaging alternative, WSJ says
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08:21 EDTTIFTiffany's new CFO to unlock value through P&L initiatives, says Goldman
Goldman said Tiffany's recently appointed CFO Ralph Nicoletti is a new driver of strength and expects him to drive meaningful free-cash-flow improvement by unlocking value in the P&L. The analyst said yesterday's refinancing is just the beginning of initiatives that will unlock value and expects to see sourcing cost reductions, streamlining of lead times, and lower capex, tax rate, and interest expenses. Shares are Buy rated with a $116 price target up from $114.
September 23, 2014
10:54 EDTAAAlcoa initiated with a Buy at Tigress Financial
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06:13 EDTWFCWells Fargo Advisers fined $5M by SEC for failing to maintain controls
The Securities and Exchange Commission yesterday charged Wells Fargo Advisors LLC with failing to maintain adequate controls to prevent one of its employees from insider trading based on a customerís nonpublic information. The SEC also charged Wells Fargo for unreasonably delaying its production of documents during the SECís investigation and providing an altered internal document related to a compliance review of the brokerís trading. Wells Fargo, which admits wrongdoing, has agreed to pay a $5M penalty to settle the SECís charges, which are the first-ever against a broker-dealer for failing to protect a customerís material nonpublic information. Reference Link
September 22, 2014
18:20 EDTWFCSEC fines Wells Fargo Advisors $5M for not stopping inside trade, FT reports
The brokerage arm of Wells Fargo (WFC), Wells Fargo Advisors, was fined $5M by the SEC for not stopping an employee from trading on customer information ahead of the 2010 acquisition of Burger King (BKW), sometimes called ďthe sandwich deal," FT reports. Reference Link
12:59 EDTAAToyota to use aluminum for Camry hood, Automotive News says
Toyota Motor (TM) looks set to begin using aluminum instead of steel to build the hood of its widely popular Camry vehicle, according to Automotive News. The change will begin in 2018, the website quoted an unnamed source as saying, Alcoa (AA) mines aluminum. Reference Link
September 18, 2014
16:45 EDTHBANHuntington Bancshares releases results of its mid-cycle stress test
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14:08 EDTWFCBanks look to high-interest personal loans to boost revenue, WSJ says
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September 17, 2014
13:28 EDTWFCWells Fargo eases lending requirements for buying apartments, Financial Times says
Wells Fargo (WFC) is easing lending requirements for apartment purchases, reports the Financial Times. In an interview, the head of Wells Fargo mortgage production Franklin Codel said, ďWeíre tweaking our condo approvals to make them more consistent with what Fannie Mae (FNMA) and Freddie Mac (FMCC) allow." Reference Link
13:16 EDTWFCHolder says DOJ looking to charge bank executives, Washington Post says
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08:19 EDTWFCNational Press Club holds a luncheon meeting
Wells Fargo & Co. CEO John Stumpf discusses the role of financial services in the real economy at a National Press Club luncheon meeting being held in Washington, D.C. on September 17 at 1 pm. Webcast Link
September 16, 2014
09:36 EDTAAActive equity options trading on open
Active equity options trading on open according to Track Data: AAPL NFLX TSLA YHOO FB PBR MU AA TWTR WMT
07:19 EDTWFCCompanies' share buybacks at fasttest clip since 2007, WSJ reports
Companies are buying back their own shares at its fastest pace since the financial crisis to fuel a stock rally, reports the Wall Street Journal. According to Birinyi Associates, companies have bought back $338.3B of stock in 1H14, the most since 2007. Citing an analysis by Barclays, companies with the largest buyback programs by dollar value have outperformed the broader market by 20% since 2008. Reference Link
06:03 EDTHBANHuntington Bancshares completes acquisition of 24 Bank of America branches
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