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Stock Market & Financial Investment News

News Breaks
April 15, 2014
06:37 EDTARS, CS, KEYAleris looking to sell recycling, alloy segment, WSJ reports
Aleris Corp (ARS), an aluminum producer, has hired Credit Suisse (CS) and KeyBank (KEY) as its financial advisers in a move to sell its recycling and custom alloy manufacturing segment, the Wall Street Journal reports, citing sources. The unit could fetch over $400M in a sale, the sources say. Reference Link
News For ARS;CS;KEY From The Last 14 Days
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October 21, 2014
10:01 EDTCSPhoenix Companies partners with Credit Suisse
Phoenix Companies (PNX) announced that it has entered into a partnership with Credit Suisse (CS) to license the CS Tactical Multi Asset Index.
08:31 EDTCSEU fines JPMorgan, UBS, Credit Suisse for cartel on derivatives
The European Commission has found that four international banks, RBS (RBS), UBS (UBS), JP Morgan (JPM) and Credit Suisse (CS), operated a cartel on bid-ask spreads of Swiss franc interest rate derivatives in the European Economic Area. The Commission imposed fines worth a total of EUR 32.36M. RBS received immunity from fines for revealing the existence of the cartel to the Commission. UBS and JPMorgan received reductions of their respective fines for cooperating with the investigation under the Commission's 2006 Leniency Notice. UBS was fined EUR 12.65M, JP Morgan fined EUR 10.53M and Credit Suisse was fined EUR 9.17M.
08:18 EDTCSBasel Committee accelerating work on leverage ratio, FT says
The Basel Committee on Banking Supervision will begin work on the calibration of the leverage ratio, a measure of bank capital seen as less vulnerable to manipulation, sooner than previously planned, which suggests the finished rule could be released as soon as 2015 or 2016, which is ahead of the previous target date of 2017, reported Financial Times, citing comments from the secretary-general of the committee, William Coen. Publicly traded large U.S. banks include Bank of America (BAC), Citigroup (C), Goldman Sachs (GS), JPMorgan (JPM), Morgan Stanley (MS), U.S. Bancorp (USB) and Wells Fargo (WFC). Publicly traded large EU banks include Banco Santander (SAN), Barclays (BCS), Credit Suisse (CS), Deutsche Bank (DB), HSBC (HSBC), ING Groep (ING), Lloyds Banking (LYG), Royal Bank of Scotland (RBS) and UBS (UBS). Reference Link
08:12 EDTCSJPMorgan, UBS, Credit Suisse to be fined by EU over Libor rigging, Reuters says
JPMorgan (JPM), UBS (UBS) and Credit Suisse (CS) will be fined $115M collectively for their roles in rigging Swiss franc Libor rates, with JPMorgan's fine of $89M making up the lion's share of the penalty, said Reuters, citing a person familiar, who added that Royal Bank of Scotland (RBS) would not be penalized for its own role since it alerted the European Commission to the issue. Reference Link
October 20, 2014
06:41 EDTKEYKeyCorp upgraded to Buy from Hold at Deutsche Bank
Deutsche Bank upgraded KeyCorp to Buy citing the recent pullback in shares and its belief the company's fees will see a meaningful rebound in Q4. Deutsche keeps a $14.50 price target for shares.
October 17, 2014
06:07 EDTCSCredit Suisse names Sitohang Asia Pacific CEO
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October 16, 2014
07:23 EDTCSHart Energy to hold a conference
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06:50 EDTCSEuropean regulator rejects bonus loophole, NY Times says
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06:28 EDTKEYKeyCorp upgraded to Buy from Neutral at Citigroup (yesterday)
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October 15, 2014
14:47 EDTKEYKeyCorp upgraded to Buy from Neutral at Citigroup
12:36 EDTKEYOn The Fly: Midday Wrap
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07:41 EDTKEYKeyCorp sees Q4 NII relatively stable with Q3
Says core revenue trends "stable." Says committed to capital priorities: Organic growth, dividends, repurchases, opportunistic growth. Says asset quality "strong," with NCOs below targeted range. Sees FY14 expenses down a low to mid single digit percentage from 2013, sees Q4 expenses relatively stable with Q3. Says business plans and macroeconomic environment provide path to an efficiency ratio below 60%. Says net charge-offs expected to continue below the targeted range of 40-60bps for the remainder of the year. Sees Q4 net interest income "relatively stable" with Q3, sees FY14 NII relatively stable with 2013, with slight downward pressure from competitive environment. Sees low double digit percentage growth for non-interest income in Q4, sees low single digit growth for FY14 non-interest income vs. prior year. Sees FY14 average loans experiencing mid single digit growth vs. FY13. Comments from slides that will be presented on the Q3 earnings conference call.
06:36 EDTKEYKeyCorp reports Q3 EPS 23c, consensus 26c
Reports Q3 book value per share $11.77. Reports Q3 tier 1 capital ratio 12%. Reports Q3 net charge-offs 0.22%. Key incurred $35M, or 3c per common share, of costs related to both its efficiency initiative and a pension settlement charge, compared to $41M, or 3c per common share, during 3Q13.
October 14, 2014
15:29 EDTKEYNotable companies reporting before tomorrow's open
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October 10, 2014
09:13 EDTCSEBA says EU stress test results to be published October 26
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October 9, 2014
08:21 EDTCSGoldman, Credit Suisse invest in digital surveillance start-up, Bloomberg says
A group of banks, led by Goldman Sachs (GS) and Credit Suisse (CS), invested $24M in Digital Reasoning, a data analytics start-up whose CEO, Tim Estes, said the banks want a way to surveil millions of e-mails, instant messages, and transcripts of calls to spot suspicious behavior "when it happens, not in an investigation three years later. Reference Link
October 8, 2014
08:06 EDTKEYAstoria Financial appoints Hugh J. Donlon as Chief Lending Officer
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07:13 EDTCSBank dealers agree to revised derivatives rules, FT reports
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