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Stock Market & Financial Investment News

News Breaks
November 14, 2012
16:28 EDTAIG, JPM, SEE, MSAppaloosa 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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September 24, 2014
15:04 EDTMS, JPMGoldman, other banks near deal to buy Bloomberg messaging alternative, WSJ says
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09:59 EDTMSOn The Fly: Analyst Downgrade Summary
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07:41 EDTMSMorgan Stanley price target raised to $42 from $38 at UBS
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05:45 EDTMSMorgan Stanley downgraded to Neutral from Overweight at JPMorgan
JPMorgan downgraded its rating on Morgan Stanley (MS) to Neutral saying shares look expensive and that it does not see the bank meeting its 10% return on equity target. JPMorgan sees better value in other investment banks, specifically UBS (UBS), and keeps a $34 price target for Morgan Stanley shares. The stock closed yesterday down 16c to $35.02.
September 23, 2014
10:33 EDTJPMWebster Financial to acquire HSA business from JPMorgan
Webster Financial (WBS), the holding company for Webster Bank, N.A., said that it had signed a definitive agreement to acquire the health savings account, or HSA, business from JPMorgan Chase Bank, N.A., a subsidiary of JPMorgan Chase (JPM). Under the agreement, approximately 700,000 accounts, including an estimated $1.3B in deposits and $175M in investments, will migrate from JPMorgan Chase Bank to HSA Bank, a division of Webster Bank, over a transitional period. In the near term, Webster will use approximately 60% of the deposits to pay down short-term borrowings with the remaining funds invested in securities. Transaction consideration will be all cash; the purchase price was not disclosed. Webster expects the transaction to be modestly accretive to earnings per share and return on equity in the first year following closing. The transaction is expected to improve Webster's loan-to-deposit ratio to approximately 80% from 87% pro forma at June 30. The company estimates the transaction will have tangible book value dilution of approximately 3%. JPMorgan Chase has advised Webster that the transaction is not expected to have a material impact on JPMorgan Chase's earnings.
09:37 EDTSEEActive equity options trading on open
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September 22, 2014
06:11 EDTJPMEMC explores merger, holds talks with HP, Dell, WSJ reports
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September 19, 2014
11:19 EDTAIGAIG loss of Jay Wintrob a 'big deal,' says Wells Fargo
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September 18, 2014
16:30 EDTAIGAIG Life & Retirement CEO Jay Wintrob leaving company
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14:08 EDTJPM, MSBanks look to high-interest personal loans to boost revenue, WSJ says
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05:31 EDTJPMVisa to undertake assessment of stake in Monitise
Visa (V) and Monitise entered into an alliance agreement in 2009. At the same time, Visa began investing in Monitise. Given the maturation of Monitise as a company, Visa is considering its options with respect to the investment and has engaged J.P. Morgan Securities (JPM) to assist. Visa will also be lessening its dependence on external mobile development resources. In 2009, in conjunction with its commercial partnership, Visa invested in Monitise as a 14.4% owner of the company in order to provide capital support to a leader in the evolution of the mobile payments sector. Over time, Visas holdings have been reduced to its current 5.5% stake in the company. This reduction in ownership and associated influence is consistent with Visas investment practice to seed emerging players and, over time, taper that influence as the partner company grows. Under their agreement, Monitise will provide Visa with mobile platform development services through 2016. As both Visa and the payments industry evolve at a rapid pace, Visa intends to continue increasing its investment in its own in-house capabilities and, as a result, reducing its use of external resources.
September 17, 2014
13:51 EDTJPMJPMorgan to replace some credit cards following Home Depot breach, Reuters says
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13:16 EDTMS, JPMHolder says DOJ looking to charge bank executives, Washington Post says
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07:37 EDTJPMMorningstar to hold a conference
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06:56 EDTSEEU.S. Paper & Packaging earnings to be pressured by weaker Euro, says Barclays
Barclays believes the Euro is in a multi-year downtrend which will pressure 2015 U.S. Paper & Packaging earnings. The firm's new aggressive Euro forecasts indicate 2015 EPS estimates would decline by 8%-12% for in Owens-Illinois (OI), Crown Holdings (CCK), Sealed Air (SEE), Avery Dennison (AVY). The firm is waiting to update estimates until it has a better read on 2H 2014 FX trends.
06:54 EDTJPMNY Attorney General announces NYC bank identity-theft ring takedown
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September 16, 2014
14:44 EDTMS, JPMVirginia AG files $1.15B lawsuit against banks that sold RMBS during crisis
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10:22 EDTJPMBanks set for ad battle to be default choice for Apple Pay, Apple Insider says
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07:07 EDTMSMagnum Hunter announces partnership with Morgan Stanley Infrastructure
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07:01 EDTMSMorgan Stanley Infrastructure to acquire co-control ownership of Eureka Hunter
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