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Stock Market & Financial Investment News

News Breaks
April 11, 2012
10:28 EDTTEF, BBVA, MET, SLAB, APKT, BAC, CNSOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Acme Packet (APKT) upgraded to Overweight from Equal Weight at Barclays... Banco Bilbao (BBVA) upgraded to Buy from Hold at Deutsche Bank... Cohen & Steers (CNS) upgraded to Buy from Neutral at BofA/Merrill... Silicon Laboratories (SLAB) upgraded to Buy from Hold at Wunderlich... Telefonica (TEF) upgraded to Neutral from Sell at UBS... Bank of America (BAC) upgraded to Buy from Neutral at Guggenheim... MetLife (MET) upgraded to Outperform from Market Perform at Raymond James.
News For APKT;BBVA;CNS;SLAB;TEF;BAC;MET From The Last 14 Days
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February 27, 2015
07:17 EDTBACUniversity of Chicago Booth School of Business to hold a forum
U.S. Monetary Policy Forum is being held in New York on February 27.
06:32 EDTBACBank of America Chief Accounting Officer, two directors to step down
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05:50 EDTBACBank of America downgraded to Neutral from Buy at UBS
UBS analyst Brennan Hawken downgraded Bank of America to Neutral from Buy saying disclosures in the bank's recent annual filing raise the risk of a qualitative failure this year. Hawken believes that even with yesterday's 2.7% pullback, shares of Bank of America are not fully pricing in the risk of a qualified failure in the Federal Reserve's Comprehensive Capital Analysis and Review, or CCAR. The analyst writes that even if BofA passes the CCAR, the Fed's annual exercise to assess whether the largest banks have sufficient capital, its regulatory capital ratios are well below peers, which could drive lower capital returns. Hawken cut his price target on the banking giant to $16 from $20. Shares of Bank of America closed yesterday down 45c to $16.04.
February 26, 2015
15:02 EDTBACFed extends capital surcharge for SiFi banks comment period to April 3
The Federal Reserve extended until April 3 the comment period for its proposed rule to implement capital surcharges for the largest, most systemically important U.S. bank holding companies. The Fed extended the comment period to allow interested persons more time to analyze the issues and prepare their comments. Originally, comments were due by March 2. The proposed rule would establish a methodology to identify whether a firm is a global systemically important banking organization and would also establish the size of a firm's risk-based capital surcharge. The proposal is designed to further strengthen the capital positions of these institutions. Large U.S. banks include Bank of America (BAC), Citi (C), Goldman Sachs (GS), JPMorgan (JPM), Morgan Stanley (MS), U.S. Bancorp (USB) and Wells Fargo (WFC).
14:01 EDTBACBarclays to double provision for forex rigging fines, Sky News says
Barclays (BCS), which previously excluded itself from a broader settlement between several banking peers and regulators over alleged manipulation of foreign exchange rates as it worked to secure a binding agreement with all relevant authorities, will more than double its existing provision for forex fines next week, which may indicate that a settlement deal could be announced soon, said Sky News. Barclay took a GBP500M charge during the course of last year in advance of expected forex issue costs, the report noted. Other banks that previously agreed to a settlement included Bank of America (BAC), Citibank (C), HSBC (HSBC), JPMorgan Chase (JPM), RBS (RBS) and UBS (UBS). The report indicates that U.S. regulators have stepped up talks with banks including Barclays and the others involved. Reference Link
10:50 EDTBACNew York regulator considering cybersecurity, cash laundering controls, WSJ says
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February 25, 2015
13:02 EDTMETMetLife Home Loans to pay $123.5M to resolve mortgage lending violations
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06:18 EDTTEFTelefonica says 'embarking on period of growth,' WSJ reports
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February 24, 2015
14:43 EDTBACBofA head of Americas equitites leaving company, Bloomberg reports
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12:12 EDTBACBank of America head of equities for America leaving bank, Bloomberg says
09:49 EDTSLABSilicon Laboratories management to meet with Topeka
Meeting to be held in Chicago on February 26 hosted by Topeka.
07:21 EDTBACSecurities Industry & Financial Markets Association to hold a conference
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February 19, 2015
08:30 EDTTEFBrazil regulators reach prelim deal on Telefonica, Vivendi merger, Reuters says
Brazil's antitrust regulator has reached a preliminary merger deal with Telefonica (TEF) and Vivendi (VIVHY) that sees the companies agreeing to "adopt measures to effectively assure supply, quality and competitive prices for fixed-line telephone, broadband internet and pay-TV markets," reports Reuters, citing an official gazette. The antitrust board must now also accept the agreement before the merger can take place. Reference Link
06:47 EDTBACReport shows subprime consumer loans at pre-2007 levels, WSJ says
Equifax (EFX) has released a report stating nearly 40%, or 50M, of auto loans, credit cards, and personal loans during the first 11 months of 2014 were made to subprime customers, the highest levels since the 2007 financial crisis, reports the Wall Street Journal. LendingTree (TREE) Chief Marketing Officer Gabriel Dalporto attributes the growth to nonbank lenders under less regulatory scrutiny than large banks. Publicly traded companies in the space include Bank of America (BAC), Citi (C), Goldman Sachs (GS), JPMorgan (JPM), Morgan Stanley (MS), U.S. Bancorp (USB) and Wells Fargo (WFC). Reference Link
February 18, 2015
08:21 EDTTEFBofa European telecom equipment analysts hold analyst/industry conference call
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07:21 EDTBACJPMorgan, Citi top government report of riskiest banks, Reuters reports
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February 17, 2015
10:26 EDTBACBank of America reports January default rate 2.93% vs. 3.13% last month
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10:00 EDTBBVAOn The Fly: Analyst Upgrade Summary
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06:24 EDTBBVABanco Bilbao upgraded to Outperform from Underperform at Exane BNP Paribas
04:43 EDTBBVABanco Bilbao upgraded to Outperform from Underperform at Exane BNP Paribas
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