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Stock Market & Financial Investment News

News Breaks
February 16, 2012
06:23 EDTAIG, GS, CS, AZSEYInvestors return to mortgage bonds, WSJ reports
There is renewed interest among investors in once-toxic mortgage bonds that were at the center of the financial crisis, reports the Wall Street Journal. Prices of some distressed bonds backed by subprime home loans, the ones issued before the crisis to borrowers with questionable credit histories, have returned double-digit percentage gains this year. Reference Link
News For AIG;GS;CS;AZSEY From The Last 14 Days
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April 9, 2014
06:35 EDTGSRegulators increase leverage ratio requirement for large banks, NY Times says
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06:27 EDTGSBig banks must add capital to comply with new rules, WSJ reports
A of January 1, 2018, the U.S.'s eight largest banks -- including Citigroup (C), JPMorgan (JPM) and Goldman Sachs (GS) -- must add up to $68B in extra capital to comply with a new rule intended to help firms weather losses during periods of market stress, the Wall Street Journal. The banks will be required to maintain well above the minimum levels of capital held against assets on their books. Banks must report the new levels next year. Reference Link
05:38 EDTCSCredit Suisse downgraded to Underweight from Neutral at JPMorgan
JPMorgan downgraded Credit Suisse to Underweight citing concerns over the bank's investment bank strategy.
April 8, 2014
18:56 EDTGSOn The Fly: After Hours Movers
NOTABLE: General Motors (GM) was fined by the National Highway Traffic Safety Administration for failing to respond to the agency's inquiry into the company's recall of faulty ignition switches in a timely manner... According to a report by The Wall Street Journal, Goldman Sachs (GS) executives have broached the subject of closing its dark pool trading operation, Sigma X. HIGHER: Constant Contact (CTCT), up 13% after giving a preliminary first quarter revenue outlook that beat estimates and raising its fiscal 2014 revenue guidance... Alcoa (AA), up 2.5% after reporting adjusted profit that beat estimates on revenue that missed expectations. LOWER: Intuitive Surgical (ISRG), down 9.5% after giving a first quarter revenue outlook that widely missed expectations and saying it will take a $67M charge in the quarter related to legal settlements.
18:29 EDTGSGoldman Sachs considers shutting down dark pool Sigma X, WSJ reports
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06:46 EDTGSGoldman expects Orban risk as Hungary bonds suffer, Bloomberg says
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06:26 EDTCSYodle planning IPO for 2014, WSJ reports
Online advertising company Yodle is planning an IPO for the second half of the year, the Wall Street Journal reports. Sources say the startup has selected Credit Suisse (CS) and Deutsche Bank (DB) for the offering, which could raise about $100M. Reference Link
06:04 EDTAIGStocks with implied volatility movement; WFM AIG
Stocks with implied volatility movement; Whole Foods (WFM) 33, AIG (AIG) 24 according to iVolatility.
April 7, 2014
19:57 EDTGSFederal Reserve announces extension on some CLOs
The Federal Reserve Board announced that it intends to exercise its authority to give banking entities two additional one-year extensions to conform their ownership interests in and sponsorship of certain collateralized loan obligations, or CLOs, covered by section 619 of the Dodd-Frank Wall Street Reform and Consumer Protection Act, commonly referred to as the Volcker rule. Section 619 of the Dodd-Frank Act directed the board to adopt rules for the conformance period and the board previously extended the conformance period for all activities and investments by one year to July 21, 2015. To ensure effective compliance, the board intends to grant banking entities two additional one-year extensions, which together would extend until July 21, 2017, to conform their ownership interests in and sponsorship of CLOs to the statute. Publicly traded companies that may be impacted by the announcement include Bank of America (BAC), Citigroup (C), Goldman Sachs (GS), JPMorgan (JPM), Morgan Stanley (MS), U.S. Bancorp (USB) and Wells Fargo (WFC). Reference Link
07:03 EDTAIGAIG loss ratio to continue to improve, says Bernstein
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06:58 EDTCSDark markets could cause more harm than high-frequency trading, Reuters says
After a book by financial author Michael Lewis sparked worries that high-speed traders have been rigging the U.S. stock market, former regulators and academics say a more serious threat to investors could be the increasing amount of trading that happens outside of exchanges, reported Reuters. Top internalizers include units of KCG Holdings (KCG), Citadel, UBS (UBS), and Citigroup (C). Dark pool operators include Credit Suisse (CS) and Morgan Stanley (MS). In an attempt to earn back some of the retail orders, exchanges such as IntercontinentalExchange Group's (ICE) New York Stock Exchange, Nasdaq (NDAQ), and BATS Global Markets, have allowed brokerages to place dark pool-style orders on their platforms, with the trade hidden until after it is executed. Reference Link
06:28 EDTCSNew York launches probe of Credit Suisse, NY Times says
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06:28 EDTGSGoldman sees opportunity to slice China junk debt after gains, Bloomberg says
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April 4, 2014
12:16 EDTGSGoldman CEO Blankfein awarded raise for 2013, WSJ says
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07:27 EDTGSMorgan Stanley pushes back at HFT accusations, FT says
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07:21 EDTAIGAIG sues NY regulator over investigation of insurance marketing, Reuters says
AIG said it is suing the New York State Department of Financial Services and its superintendent, Benjamin Lawsky, to force them to back off a threatened expensive enforcement proceeding over possible violations of state law by a former unit, reported Reuters. Reference Link
06:26 EDTCSRoyal Bank of Scotland names Ewen Stevenson as CFO
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April 3, 2014
07:28 EDTGSSinopec said to select Goldman for $30B unit sale, Bloomberg says
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06:55 EDTAIGAIG shares can double or more, says Bernstein
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05:47 EDTCSCredit Suisse announces charge of CHF 468M for litigation provision
Credit Suisse said its preliminary results for 2013 were updated to reflect an additional after-tax charge of CHF 468M, primarily due to an increase in the litigation provision relating to the ongoing United States Department of Justice investigation into the U.S. tax-related matter. As a result, Credit Suisse reported a net loss of CHF 476M for Q4. For the full year 2013, reported core results pre-tax income was CHF 3.5B, compared to CHF 1.89B in 2012, and reported 2013 net income attributable to shareholders was CHF 2.3B, compared to CHF 1.35B in 2012. Credit Suisse’s Look-through Total Capital ratio was 15.7%, Look-through Basel III CET1 ratio was 10.0%, and Basel III CET1 ratio was 15.7% as of the end of 2013.
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