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Stock Market & Financial Investment News

News Breaks
March 16, 2012
10:10 EDTAMTD, BLK, MS, KKR, IVZ, GS, APODeutsche Bank downgrades Morgan Stanley, others after recent gains
Deutsche Bank downgraded Ameritrade (AMTD), BlackRock (BLK), and Morgan Stanley (MS) to Hold from Buy this morning following recent gains in the companies' shares. For Ameritrade, Deutsche Bank also cited upcoming seasonality and continuing challenges faced by the company as reasons for the downgrade. Meanwhile, Deutsche believes that BlackRock has few near-term catalysts, while Morgan Stanley is facing a "mixed" macro and regulatory outlook, as well as challenges to its fixed income business. Conversely, Deutsche Bank identified Goldman Sachs (GS), Apollo Management (APO), KKR & Co. (KKR), and Invesco (IVZ) as its top picks among Brokers and Asset Managers. However, Deutsche reduced its price target on Goldman to $145 from $160. In early trading, Ameritrade lost 1.56% to $20.15, BlackRock gained 0.23% to $205.55, Morgan Stanley lost 0.31% to $19.45, Invesco dropped 0.46% to $26.25 while Goldman fell 0.70% to $122.20.
News For AMTD;BLK;MS;KKR;IVZ;GS;APO From The Last 14 Days
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August 25, 2014
07:32 EDTGSGoldman likely to name small new-partner class for 2014, WSJ reports
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06:44 EDTIVZReport on Invesco not new, says Citigroup
After the Wall Street Journal indicated that a U.K. platform was pulling $1.1B from Invesco and moving it to former Invesco investment manager Neil Woodford, Citgroup thinks that Invesco already accounted for the loss of the platform in post Q2 comments. .Citi does not believe that Woodford is making "widespread" gains at Invesco's expense. Citi keeps a Buy rating on Invesco.
August 24, 2014
21:23 EDTGS, KKRLender group set to offer EDMC revised debt package, NY Post says
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16:56 EDTGSGoldman likely to limit partner designations this fall, WSJ says
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August 22, 2014
17:18 EDTGSGoldman Sachs announces agreements with FHFA to repurchase $3.15B in RMBS
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13:41 EDTGSGoldman Sachs near $1.1B payment to settle FHFA claims, FT reports
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06:42 EDTGSBlackstone in discussions to back China-based fund, Bloomberg says
Blackstone (BX) is in discussions to possibly back Hong Kong-based distressed fund, Arkkan Capital Management, which was founded by the former global leader of Goldman Sachs' (GS) special situations division Jason Brown, according to Bloomberg, citing two people with knowledge of the matter. Reference Link
August 21, 2014
12:50 EDTMSDeutsche Bank divests natgas trading book to Morgan Stanley, Reuters says
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08:31 EDTMSMorgan Stanley, JP Morgan selected by Shake Shack to lead IPO, Reuters says
JP Morgan (JPM) and Morgan Stanley (MS) have been picked by Shake Shack to lead the fast-food restaurant chain's IPO, sources tell Reuters. The offering could come as early as this year. Reference Link
06:43 EDTMS, GSRegulators up bank warning efforts for poor risk assessment, Reuters says
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August 20, 2014
18:29 EDTMS, GSBofA, JPMorgan weigh plans to raise salaries for junior bankers, Bloomberg says
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11:44 EDTKKRMylan completes second bidding round for GSK prescription portfolio, WSJ says
Mylan (MYL), TPG Capital, Advent International, KKR (KKR), Warburg Pincus and a few Indian prescription manufacturers have completed the second round of bidding for GlaxoSmith Kline's (GSK) portfolio of mature medications, according to The Wall Street Journal, citing people familiar with the sales process. GSK noted that it aims to sell a portfolio of drug brands in the U.S. and EU with yearly sales of approximately $1.66B. Reference Link
11:37 EDTGSGoldman ups U.S. junior employees FY15 wages by 20%, Bloomberg says
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10:32 EDTGSGoldman to up U.S. junior employees FY15 salaries by 20%, Bloomberg says
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August 19, 2014
10:39 EDTKKRKKR hires Rothschild for sale of Northgate's public sector unit, Reuters says
KKR has engaged Rothschild to arrange for the sale of the public sector division of its software firm Northgate Information Solutions which may fetch around $600M, says Reuters. Reference Link
06:34 EDTGSGoldman abandons effort to toss out $1B Gaddafi suit, Telegraph says
Goldman Sachs (GS) abandoned its effort to toss out a London court suit from the Libyan Investment Authority who alleged that the bank lost over $1B worth of funds during the final years of Muammar Gaddafi's reign as dictator, according to the Telegraph, citing comments from the LIA. The LIA sued both Goldman and Societe Generale (SCGLY) over claims that the banks' London divisions took-in exorbitant fees while losing money in derivative trades. Reference Link
August 18, 2014
10:32 EDTGSProcter & Gamble likely to divest Duracell, Braun, Reuters reports
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09:20 EDTGSDeutsche Bank appoints Shannon Americas Chief Information Officer
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06:47 EDTMSU.S. banks consider Ireland fitting spot for EU divisions, FT says
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06:06 EDTKKRKKR, Abacus to acquire 70% of World Trade Center, Melbourne
Abacus Property Group and KKR have entered into definitive transaction documents to acquire a 70% interest in Towers 2, 3 and 4 of the World Trade Center, Melbourne. The vendor, Asset 1 WTC, will retain a 30% co-ownership interest. The total consideration for the acquisition of the 70% interest is $120.4M, excluding transaction costs, and represents an initial yield of 9.3% per annum. The property is a part of the Northbank precinct adjacent to the central business district. Under the terms of the venture, KKR will fund 75% of the equity and Abacus will fund the remaining 25%. Abacus will provide local property, asset and development management services to WTC. The transaction is subject to FIRB approval and finalisation of the senior bank facility, which is well advanced. Settlement is anticipated to occur in October this year. Reference Link
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