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Stock Market & Financial Investment News

News Breaks
November 14, 2012
16:28 EDTSEE, JPM, MS, AIGAppaloosa reports new positions in AIG, JPMorgan, Sealed Air, Morgan Stanley
News For AIG;JPM;SEE;MS From The Last 14 Days
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January 26, 2016
07:04 EDTAIGAIG to pursue IPO of United Guaranty Corp in mid-2016
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07:04 EDTAIGAIG believes a full breakup in near-term would detract from shareholder value
With these actions, AIG has taken another major step in simplifying our organization to be a leaner, more profitable insurer, while continuing to return capital to shareholders and improve shareholder returns," said President and CEO Peter Hancock. "The creation of more nimble, standalone business units that can grow within AIG or be spun out or sold allows us to do what is in our shareholders' best interests." Douglas M. Steenland, AIG's Non-Executive Chairman, said, "The Board's actions reflect its full support for the plans that Peter Hancock and his management team have put forward, and we are aligned that these steps will deliver strong results while creating more options for shareholder value creation in subsequent years. After careful consideration, AIG believes that a full breakup in the near term would detract from, not enhance, shareholder value. A lack of diversification benefits would reduce capital available for distribution, and there would be a loss of tax benefits. Being a non-bank SIFI is not currently a binding constraint on return of capital," said Mr. Steenland.
07:03 EDTAIGAIG says board approves organizational changes, including nine 'modular' units
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07:03 EDTAIGAIG announces targeted expense reductions of $1.6B within two years
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07:03 EDTAIGAIG board committs to return at least $25B to shareholders over next two years
The Board of Directors has committed to return at least $25 billion of capital to shareholders over the next two years via buybacks and dividends without compromising the utilization of the Company's deferred tax assets; approved the IPO of up to 19.9% of United Guaranty Corporation as a first step towards a full separation; and approved the sale of AIG Advisor Group to Lightyear Capital LLC and PSP Investments.
07:02 EDTAIGAIG announces actions, organizational changes to create leaner insurer
07:02 EDTAIGAIG says strengthens reserves by $3.6B pre-tax in Q4
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07:01 EDTAIGAIG to sell AIG Advisor Group to Lightyear Capital, PSP Investments
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07:01 EDTAIGAIG to sell AIG Advisor Group to Lightyear Capital, PSP Investments
06:11 EDTJPMJPMorgan reaches $1.42B settlement agreement in Lehman case, Bloomberg says
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January 25, 2016
15:55 EDTAIGAIG volatility up into conference call on strategy to drive shareholder value
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10:00 EDTJPMOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: American Eagle (AEO) downgraded to Hold from Buy at BB&T... American Express (AXP) downgraded on weak revenue outlook at Argus... Bristol-Myers (BMY) downgraded to Market Perform from Outperform at BMO Capital... Caterpillar (CAT) downgraded to Sell from Neutral at Goldman... Crestwood Equity (CEQP) downgraded to Neutral on potential distribution cut at Baird... Cummins (CMI) downgraded to Neutral from Buy at Citi... Federal Realty (FRT) downgraded to Hold from Buy at Evercore ISI... GKN PLC (GKNLY) downgraded to Neutral from Outperform at Credit Suisse... Galapagos NV (GLPG) downgraded to Neutral from Buy at GoldmanvHortonworks (HDP) downgraded to Perform from Outperform at Oppenheimer... International Flavors (IFF) downgraded on headwinds at Stifel... International Paper (IP) downgraded to Neutral from Buy at Citi... JPMorgan (JPM) downgraded to Neutral from Buy at Nomura... KapStone (KS) downgraded to Underperform from Neutral at Macquarie... Mosaic (MOS) downgraded to Neutral from Overweight at JPMorgan... NetSuite (N) downgraded to Equal Weight from Overweight at Stephens... ONEOK Partners (OKS) downgraded to Neutral at Baird... OvaScience (OVAS) downgraded to Perform from Outperform at Oppenheimer... Packaging Corp. (PKG) downgraded to Neutral from Buy at Citi... Potash (POT) downgraded to Neutral from Overweight at JPMorgan... Power Solutions (PSIX) downgraded to Neutral from Overweight at Piper Jaffray... Raymond James (RJF) downgraded to Neutral from Buy at Nomura... Regeneron (REGN) downgraded to Sell from Neutral at Chardan... SanDisk (SNDK) downgraded to Underperform from Outperform at CLSA... Toll Brothers (TOL) downgraded to Market Perform from Outperform at JMP Securities... Twitter (TWTR) downgraded to Hold from Buy at Stifel... WPX Energy (WPX) downgraded to Sector Perform from Outperform at Iberia... WestRock (WRK) downgraded to Neutral from Buy at BofA/Merrill... Whole Foods (WFM) downgraded to Underperform from Market Perform at BMO Capital... Zurich Insurance (ZURVY) downgraded to Neutral from Outperform at Exane BNP Paribas.
09:03 EDTMSMorgan Stanley announces appointment of 156 managing directors
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07:03 EDTJPMJPMorgan downgraded to Neutral from Buy at Nomura
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January 24, 2016
18:02 EDTAIGAIG considering ringfencing measures, FT says
As the company looks to downplay demands from activist shareholders, AIG is considering a plan to ringfence troubled, unprofitable policy blocks from the rest of the group, reports the Financial Times, citing corporate financiers. Reference Link
13:58 EDTAIGAIG to sell broker-dealers, offer shares of mortgage insurance unit, WSJ says
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11:02 EDTMSStocks post weekly gain after oil rebounds
Stocks recovered late in the week to post their first weekly gain of the new year as equities continue to be correlated closely with the oil market. A plunge in oil led equities lower early in the holiday shortened week, but as oil prices rebounded to close the week out, the major averages followed suit. MACRO NEWS: In the U.S., the consumer price index fell 0.1% during December, versus expectations for a flat reading. The core reading, which excludes food and energy, showed prices rose 0.1% from the prior month, versus expectations for an increase of 0.2%. Initial jobless claims rose to 293,000 last week, topping the expectation for 278,000 first-time claims. Markit's flash manufacturing Purchasing Managers' Index for January rose 1.5 points to 52.7, better than the 51.0 reading that was expected. Existing home sales climbed 14.7% to a 5.46M rate in December, topping the 5.2M rate that was forecast... In Asia, China's national bureau of statistics estimated that GDP growth slowed to 6.8% in the last quarter of the year, dipping from 6.9% growth in the previous quarter. China's industrial output rose 5.9% from a year earlier in December, compared with the consensus forecast for a 6% increase. Japan's Nikkei average was down early in the week, even falling into bear market territory, but rallied nearly 6% on Friday after the Nikkei Asian Review said that the Bank of Japan is taking a "serious look" at additional easing... In Europe, the European Central Bank left its key interest rates unchanged. However, at an associated press conference, ECB President Mario Draghi acknowledged downside risks were increasing again, meaning the bank may need to "review and possibly reconsider" its monetary policy stance at its next meeting in March. Markit's flash PMI for the euro zone slid to an 11-month low of 53.5, missing expectations for a more modest dip to a 54.2 reading. The International Monetary Fund cut its global growth forecasts for the third time in less than a year. The IMF now estimates that the world economy will grow 3.4% this year and 3.6% next year, down from its prior forecasts of 3.6% and 3.8% growth, respectively. COMPANY NEWS: On Tuesday, Morgan Stanley (MS) advanced 1% after its earnings and revenue topped analysts' consensus forecast. Big bank peer Bank of America (BAC) slid 1% after its earnings also beat expectations but its revenue narrowly missed the consensus estimate... On Wednesday, IBM (IBM) slid nearly 5% after reporting better than expected earnings and revenue for the fourth quarter, but forecasting below-consensus profits for the new year... On Thursday, Verizon (VZ) was among the best performers on the Dow, advancing over 3% after its earnings, revenue and wireless subscriber additions all topped expectations. Conversely, fellow Dow member Travelers (TRV) slid almost 1% after releasing its own quarterly results... On Friday, American Express (AXP) sunk more than 12% after the card issuer reported stronger than expected quarterly results but its 2017 profit guidance came in below the consensus outlook. The company's pledge to take out $1B in costs by the end of 2017 did little to change the mood of analysts or investors. Fellow Dow member GE (GE) slid a bit more than 1% after reporting better than expected earnings but lower than expected quarterly revenue... Schlumberger (SLB) shares gained 6% after the oil services giant reported earnings that topped expectations, approved a quarterly dividend of 50c per share and a new share repurchase program of $10B and said it plans to cut 10,000 more jobs... Netflix (NFLX) reported fourth quarter earnings that beat analyst estimates, powered by better than expected international subscriber growth. The numbers were met with positive commentary by several research firms, though decelerating U.S. subscriber growth was highlighted by bears as a warning sign for the company... Deutsche Bank (DB) disclosed that it expects a EUR2.1B net loss for the quarter due to a number of charges, including expected litigation costs of EUR1.2B... Xilinx (XLNX) advanced after reporting its third quarter numbers. The news may have been overshadowed, however, by a regulatory filing showing new agreements with its top executives, with several analysts highlighting that the change could signal a takeover is in the cards in the future... Alkermes (ALKS) plunged more than 44% after disclosing that two of three Phase 3 studies of its experimental depression disorder treatment did not meet their primary efficacy endpoints. INDEXES: For the four-day week, the Dow gained about 0.67% to close at 16,093.51, the S&P 500 rose about 1.4% to close at 1,906.90, and the Nasdaq increased about 2.3% to close at 4,591.18.
January 22, 2016
17:36 EDTAIGAIG finalizing deal to sell broker-dealers network, Dow Jones says
AIG to keep a majority stake in United Guaranty unit, added Dow Jones.
15:44 EDTAIGAIG to pursue spinoff of mortgage insurance unit, Reuters reports
AIG has decided to pursue a partial spinoff of its mortgage insurance business, which accounted for about 7% of the insurer's pre-tax operating income in the first nine months of 2015, said Reuters, citing people familiar with the matter. Reference Link
15:32 EDTAIGAIG to seek spinoff of mortgage insurance business, Reuters reports
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