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April 24, 2012
07:07 EDTAOL, BACMacroSolve files patent infringement suits against AOL and Bank of America
MacroSolve (MCVE) announced its latest patent infringement suits filed against AOL (AOL) and Bank of America Corp. (BAC). MacroSolve's suit claims that both companies infringed upon its U.S. Patent No. 7,822,816. "We continue to successfully settle suits," said MacroSolve Vice Chairman, Jim McGill. "Both AOL and Bank of America have been utilizing mobile apps as an integral part of their businesses. These apps, including AOL's Moviefone and BofA's banking apps, appear to be infringing upon our intellectual property rights. We believe that swift and forceful legal action is the best way to slow the sprawl of corporate copycat apps like these and protect the rights of individual and small-group innovators. We look forward to productive licensing discussions or settlements with both of these companies."
News For AOL;BAC From The Last 14 Days
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October 13, 2014
16:02 EDTBACOptions Update; October 13, 2014
iPath S&P 500 VIX Short-Term Futures up 3.71 to 39.56. Option volume leaders: AAPL TSLA TWTR AMZN FB NFLX SUNE GILD BAC PBR according to Track Data.
12:13 EDTAOLYahoo upgraded as BGC sees higher chances for tax efficient monetization
Research firm BGC Partners upgraded its rating on Yahoo (YHOO) to Buy from Hold, saying that the chances of the company monetizing its assets in a more tax efficient manner have increased now that Alibaba (BABA) has come public. Among the possible scenarios, Yahoo may be acquired by Alibaba, the firm added. WHAT'S NEW: Yahoo's chances of paying a relatively low tax rate on the sale of its stakes in Alibaba and Yahoo Japan, a Japanese Internet company, have risen, BGC Financial analyst Colin Gillis stated. Yahoo could owe up to $15B of taxes on its sale of the assets, the analyst estimated. If Yahoo pays full tax liability, its stakes would be worth $43.5B. If it pays no taxes, the assets would be worth $58.5B, he estimated. Gillis set his price target on Yahoo at $50, representing the midpoint of the two scenarios, he stated. Among various scenarios that could play out, Alibaba could choose to buy Yahoo and subsequently unload Yahoo's core business and the American company's stake in Yahoo Japan, the analyst said. Yahoo shareholders could receive cash and shares of Alibaba as part of such a deal, Gillis stated. If Yahoo is not acquired by Alibaba, the American company should combine with AOL (AOL), as recently proposed by activist investor Starboard Value, Gillis contended. Merging with AOL could accelerate Yahoo's revenue growth by over 50% and increase its EBITDA by over 35%, Gillis estimated. PRICE ACTION: In early afternoon trading, Yahoo fell 1% to $39.18.
07:19 EDTBACAmEx, Capital One profits seen boosted by credit card 'sweet spot,' WSJ says
Credit card players such as American Express (AXP) and Capital One (COF), as well as banks with significant card units like JPMorgan (JPM), stand to benefit from the U.S. card industry's "sweet spot" of moderate economic growth, low interest rates and consumers who are better managing payments while growing their spending, said The Wall Street Journal, which noted that consulting firm R.K. Hammer estimates U.S. card issuers' revenue will grow 9% this year to $158.6B. Other U.S. banks with credit card units include Bank of America (BAC), Citigroup (C), and Wells Fargo (WFC) and other card companies include Visa (V) and MasterCard (MA). Reference Link
06:44 EDTBACRegulators seeking banks' auto loan data, Reuters reports
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00:04 EDTBACBanking regulators want more disclosure on auto loans, Reuters says
Banking regulators are requesting that banks provide more details on their auto loan portfolios, says Reuters. Balances remaining on auto loans are rising and about a fifth of the loans are subprime, added Reuters. Publicly traded companies in the space include Bank of America (BAC), Citigroup (C), Capital One (COF), JPMorgan (JPM), U.S. Bancorp (USB) and Wells Fargo (WFC). Reference Link
October 12, 2014
13:03 EDTBACBanks agree on derivatives procedures for future crisis scenario, WSJ says
Meeting at the Federal Reserve in Washington, top banking executives from 18 large U.S., European and Japanese banks agreed in principle to wait up to 48 hours before seeking to terminate derivatives contracts and collect associated payments from a troubled financial institution, says the Wall Street Journal. Publicly traded companies in the space 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
October 9, 2014
16:00 EDTBACOptions Update; October 9, 2014
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06:45 EDTBACBofA finalizes oil financing agreement with PES, Reuters says
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06:33 EDTBACCitigroup 2015 consensus may be 10% too high, says Deutsche Bank
Deutsche Bank believes the IPO of OneMain, the consumer finance unit within Citi Holdings, and higher expenses create 10% risk to the 2015 consensus estimate of $5.40 for Citigroup. Deutsche says shedding OneMain would lower Citigroup's (C) annual earnings by about 20c. The firm says the bank's Q3 results could top expectations, however, on better than expected currency trading. Deutsche continues to prefer Bank of America (BAC) to Citi, saying its confident consensus estimates for the former are reasonable. It has a Hold rating on Citi and Buy rating on Bank of America.
October 8, 2014
08:34 EDTBACBank of America October volatility increases into Q3 and outlook
Bank of America October call option implied volatility is at 28, November is at 23, January is at 22; compared to its 26-week average of 24 according to Track Data, suggesting larger near term price movement into the expected release of Q3 results on October 15.
07:13 EDTBACBank dealers agree to revised derivatives rules, FT reports
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October 7, 2014
09:36 EDTBACActive equity options trading on open
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09:24 EDTAOLFormer Yahoo CFO says AOL merger makes 'little sense,' CNBC reports
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08:31 EDTAOLAOL names Dermot McCormack as president of AOL Video and AOL Studios
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07:28 EDTBACWells Fargo ups price target ranges for capital markets banks
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06:51 EDTBACJustice Department set to attack more large banks by year end, NY Times says
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06:49 EDTBACBNP seeks assistance from banks as ban approaches, Reuters says
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October 6, 2014
09:37 EDTBACActive equity options trading on open
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07:29 EDTBACHead of NYDFS reaching out to banks in wake of JPMorgan breach, FT says
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06:27 EDTBACJPMorgan hackers hit about nine other firms, NY Times says
The group of hackers that infiltrated JPMorgan (JPM) also penetrated about nine other financial institutions, according to The New York Times. Washington intelligence officials and policy makers are much more concerned about the attacks than they have disclosed, the newspaper added. Other publicly traded large banks include Bank of America (BAC), Citigroup (C), Goldman Sachs (GS), Morgan Stanley (MS), U.S. Bancorp (USB) and Wells Fargo (WFC). Publicly traded cybersecurity companies include Barracuda Networks (CUDA), Check Point (CHKP), F5 Networks (FFIV), FireEye (FEYE), Fortinet (FTNT), Imperva (IMPV), Palo Alto (PANW), Proofpoint (PFPT), Qualys (QLYS) and Symantec (SYMC).Reference Link
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