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Stock Market & Financial Investment News

News Breaks
April 11, 2012
10:28 EDTBAC, CNS, TEF, BBVA, MET, SLAB, APKTOn 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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April 15, 2015
10:36 EDTMETBofA/Merrill U.S. credit analysts hold an analyst/industry conference call
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10:13 EDTBACBank of America reports March default rate 2.94% vs. 2.98% last month
Reports March delinquency rate 1.80% vs. 1.86% last month.
09:35 EDTBACActive equity options trading on open
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08:25 EDTBACBofA expects to remain opportunistic to meet future funding needs
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08:22 EDTBACBank of America sees added costs of about $100M in 2015 due to CCAR resubmission
As previously reported, the Fed issued a conditional non-objection to Bank of America’s capital plan upon which the firm is required to resubmit its plan and address certain weaknesses identified in the capital planning process, with resubmission of the capital plan to occur by September 30. The bank said in slides for its Q1 earnings call that Terry Laughlin has been assigned to lead the CCAR resubmission as well as a longer-term comprehensive evaluation and enhancement of the overall process. BofA noted it has engaged independent third parties to review work streams addressing identified areas to strengthen and implement “best-in-class” processes and controls and that it expects additional associated costs to be approximately $100M in 2015.
07:08 EDTBACBank of America reports Book Value per Share up 4% to $21.66
Estimated common equity Tier 1 ratio under Basel 3, Standardized Approach, Fully Phased-in, was 10.3%; Advanced Approaches 10.1%. Reports estimated Supplementary Leverage Ratios above 2018 required minimums, with bank holding company at 6.3% and primary bank at 7.1%. Reports global excess liquidity sources of $478B, up $51Bf rom 1Q14 and reports time-to-required funding at 37 months. Reports tangible book value per share increased 7% from year ago to $14.79 per share and book value per share increased 4% from year ago to $21.66 per share.
07:05 EDTBACBank of America reports Q1 provision for credit losses $765M
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07:04 EDTBACBank of America CEO says seeing 'encouraging' signs in consumer, client activity
“Continuing the trend from last quarter, we saw core loan and deposit growth, higher mortgage originations, and increased wealth management client balances," said CEO Brian Moynihan. “We retained a top position in investment banking as our team generated the highest advisory fees since the Merrill Lynch merger. We see continued encouraging signs in customer and client activity, with consumer spending increasing and utilization of credit by our commercial customers rising. This should bode well for the near-term economic outlook. At a time of continued low interest rates, we had good expense control as we focus on responsible growth with a balanced platform to create long-term value for customers and shareholders.” "We continued to strengthen an already strong and liquid balance sheet this quarter," said CFO Bruce Thompson. "We improved our liquidity, accreted capital and tightly managed expenses in a challenging interest rate environment. Meanwhile, credit quality remained strong, reflecting both the economic environment and our risk underwriting."
07:02 EDTBACBank of America reports Q1 EPS with items 27c, consensus 29c
Reports Q1 revenue $21.2B, consensus $21.5B. Results Include $1.0B, or 6c per share, in annual retirement-eligible incentive costs and $0.5B, or 3c per share, in charges to revenue for market-related net interest income adjustments.
06:11 EDTBACRegulators seek to end 'too big to fail' firms, WSJ reports
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April 14, 2015
15:34 EDTBACNotable companies reporting before tomorrow's open
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15:34 EDTBACBank of America April 16 straddle priced for 3.4% movement into Q1
14:38 EDTBACEarnings Watch: Bank of America to report after mixed reviews from Fed
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14:36 EDTBACBank of America technical comments ahead of earnings
The stock is trading up to resistance at the 50-day moving average, last at $15.95. Since November 2013, the stock has been trading in a range bound largely by $15 at the low and $18 at the high. A break of either end of the range would help guide where shares might trade thereafter. Failing news that is sufficiently bullish or bearish, we could expect the stock to trade in the same range until another catalyst emerges. On better news, resistance above current levels would be at $16.62, $17.22, and then at $18. If the news is more bearish than expected, a breakdown below $15 might be probable. In that event next support levels below $15 as downside objectives would be at $14.37 which is the 52-week low and then at $13.49 and $12.80.
10:42 EDTMETWheeler retirement adds uncertainty to MetLife CEO succession, says Wells Fargo
Wells Fargo said the retirement of Metlife's President of the Americas Bill Wheeler was unexpected and adds uncertainty around the issue of CEO succession, since Wheeler was widely viewed as a possible successor to CEO Steve Kandarian. Wheeler's exit leaves the company with no clear front runner to next take up the CEO post, said the firm, which has an Outperform rating on Metlife shares.
08:36 EDTMETMetLife announces retirement of president of Americas Bill Wheeler
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08:20 EDTTEFTelefonica may offer rights concessions to get Canal+ deal done, Reuters says
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07:35 EDTBACBank of America April volatility elevated into Q1 and outlook
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April 13, 2015
09:24 EDTBACBank of America shares are cheap, says Morgan Stanley
Morgan Stanley said its sum of the parts of analysis of Overweight rated Bank of America indicates a value of $21. The firm said Bank of America's current share price implies no value for the wealth management division, which it values at $4.84 per share. Morgan Stanley said shares are cheap and recommends purchase.
07:19 EDTBACbloomberg to hold a summit
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