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Stock Market & Financial Investment News

News Breaks
May 6, 2014
04:55 EDTALLY, ALLY, BBT, BBT, COF, COF, DFS, DFS, FITB, FITBDeutsche Bank to hold a conference
2014 Regional Banks Conference is being held in Boston on May 6 and in Chicago on May 7.
News For ALLY;BBT;COF;DFS;FITB From The Last 14 Days
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July 23, 2015
15:04 EDTCOFNotable companies reporting after market close
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July 22, 2015
16:37 EDTDFSDiscover reports Q2 personal loan net charge-off rate up 15 points to 2.1%
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16:35 EDTDFSDiscover reports Q2 card 30+ day delinquency rate down 8 points to 1.55%
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16:34 EDTDFSDiscover reports Q2 net charge-offs up 3% to $347M due to loan growth
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16:32 EDTDFSDiscover reports Q2 card net charge-offs down 5 points to 2.28%
Net charge-off rate for credit card loans decreased 5 basis points from the prior year to 2.28% and the delinquency rate for loans over 30 days past due decreased 8 basis points to 1.55%.
16:30 EDTDFSDiscover reports Q2 Basel III CET1 capital ratio 14.5%
Reports Q2 Basel III Tier 1 capital ratio 15.3%. Reports Q2 fully phased-in Basel III CET1 capital ratio 14.4%. Data provided in Q2 earnings presentations slides within a regulatory filing.
16:08 EDTDFSDiscover reports Q2 Payment Services transaction dollar volume down 7% to $47.5B
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16:07 EDTDFSDiscover reports Q2 EPS $1.33, consensus $1.32
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15:26 EDTDFSNotable companies reporting after market close
Notable companies reporting after the market close, with earnings consensus, include Qualcomm (QCOM), consensus 95... American Express (AXP), consensus $1.32... Texas Instruments (TXN), consensus 65c... Las Vegas Sands (LVS), consensus 61c... Crown Castle (CCI), consensus $1.06... Discover Financial (DFS), consensus $1.32... Tractor Supply (TSCO), consensus $1.11... SanDisk (SNDK), consensus 33c... SL Green Realty (SLG), consensus $1.56... Xilinx (XLNX), consensus 54c... Weatherford (WFT), consensus (12c)... F5 Networks (FFIV), consensus $1.60... United Rentals (URI), consensus $1.74... Fortinet (FTNT), consensus 9c... LaSalle Hotel (LHO), consensus 89c... Oceaneering International (OII), consensus 68c... Cheesecake Factory (CAKE), consensus 62c.
15:01 EDTCOFEarnings Watch: American Express reports after several 'top pick' mentions
American Express (AXP) is expected to report second quarter earnings after the close on July 22, with a conference call scheduled for 5:00 pm ET. American Express is a global financial services company specializing in credit card and pre-paid card products and services. EXPECTATIONS: Analysts are looking for earnings per share of $1.32 on revenue of $8.46B. The consensus range is $1.23-$1.41 for EPS and $8.29B-$9.01B for revenue, according to First Call. LAST QUARTER: On April 16, American Express reported first quarter EPS of $1.48 against expectations for $1.37, and revenue of $7.95B versus estimates of $8.21B. The company reported ROE of 29% and guided towards flat to modestly down FY15 EPS as it ramps investments to offset the March 2016 expiration of its Costco (COST) partnership. NEWS: On May 12, American Express authorized the repurchase of up to 150M company shares while also raising its dividend 12% to 29c per share. During the Bernstein Strategic Decisions Conference on May 28, company executives remarked that a "range" of co-brand deals would be coming up for American Express, adding that the loss of the Costco contract was not the "be-all, end-all" for the company. On June 17, Reuters reported that a U.S. appeals court affirmed a prior ruling that American Express can no longer block businesses from steering customers towards competitor cards, such as those of Visa (V) or Mastercard (MA). STREET RESEARCH: On April 27, Nomura downgraded American Express to Neutral from Buy, citing minimal upside to 2015 and 2016 estimates amid a lack of near-term catalysts. Meanwhile, Bernstein upgraded the stock to Outperform from Market Perform on May 6. On May 18, Deutsche Bank reiterated a Buy rating and $90 price target on American Express shares, saying it sees a $750M-$850M annual revenue opportunity through the "Plenti" loyalty program coalition. On June 2, Bernstein said it expects credit card volumes to grow 10%-12% annually over the next five years, adding that American Express, Capital One (COF) and Synchrony Financial (SYF) are its favorites in the sector. Following meetings with American Express executives, Citi called American's risk/reward ratio "attractive" on June 4, and on July 8, Deutsche Bank said it was positive on credit card stocks going into second quarter earnings, with American Express named a top pick. PRICE ACTION: Shares of American Express are near flat to $78.96 ahead of Wednesday's earnings report.
12:47 EDTDFSDiscover to pay $18.5M in fines related to student loan servicing practices
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10:01 EDTFITBOn The Fly: Analyst Downgrade Summary
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09:35 EDTFITBFifth Third downgraded to Neutral from Buy at Citi
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09:06 EDTALLYAlly renews exclusive sponsorship of TIME Dealer of the Year through 2021
Ally Financial will renew its exclusive sponsorship of the TIME Dealer of the Year program through 2021. TIME Dealer of the Year is an annual program that aims to recognize and honor dealers around the country who make outstanding charitable contributions to their communities.
July 21, 2015
09:43 EDTFITBFifth Third says fundamental drivers continue to be healthy
09:28 EDTFITBFifth Third sees 'stable' NIM in 2H vs. Q1
Sees CEO transition going "smoothly." Says "pleased" with core trends, though environment continues to challenge banks. Says "comfortable" with current portfolio. Says plans to close 105 branches by the middle of 2016. Sees $65M in savings from plan, $5M than original expectations. Updated outlook "not materially different" from January, April outlook. Says "comfortable" with FY NII expectations. Expects NII to grow y/y, sees Q3 NII slightly higher than Q2; sees NII growing in Q4 over Q3. Sees NIM "stable" in 2H vs. Q1, doesn't expect NIM to widen further in Q3. Sees 2H NIM stable with 1H. Sees Q3 mortgage banking net revenue somewhat below Q2, but above last year's Q3. Sees strong 2H for total fee income. Sees 2H IT expenses about 10% higher than 1H. Sees core expenses up in Q3 vs. Q2, driven by marketing. Sees total expenses in 2H about 2.5% higher than 1H. Comments made on the Q2 earnings conference call.
06:43 EDTFITBFifth Third sees $155M share repurchase completed on or before July 28
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06:33 EDTFITBFifth Third reports Q2 EPS 36c, consensus 38c
Reports Q2 return on assets of 0.90%, return on average common equity of 8.1%, return on average tangible common equity of 9.7%. Reports Q2 pre-povision revenue of $496M. Reports Q2 net charge-offs declined 15%. Reports Common equity Tier 1 ratio of 9.41%. Reports Tier 1 risk-based capital ratio of 10.49%. Reports tangible common equity ratio of 8.51%. Reports book value per share of $17.62.
July 20, 2015
15:01 EDTFITBNotable companies reporting before tomorrow's open
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06:31 EDTBBTBB&T reinstated with a Hold at Deutsche Bank
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