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News Breaks
August 6, 2014
08:19 EDTJPM, DB, ASHAshland enters into 10b5-1 plans to repurchase $250M of common stock
Ashland (ASH) announced that it has established 10b5-1 plans with each of Deutsche Bank (DB) Securities and JPMorgan Chase Bank, N.A., (JPM) to repurchase an aggregate of $250M of Ashland's common stock. These plans are part of Ashland's previously announced $1.35B share repurchase authorization and are in addition to the $750M accelerated share repurchase programs announced earlier this week.
News For ASH;DB;JPM From The Last 14 Days
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November 25, 2015
12:46 EDTJPMFederal Reserve approves final rule for capital plan and stress test regulations
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09:03 EDTDBGE completes sale of consumer finance business in Australia, New Zealand
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06:11 EDTDBDeutsche Bank unit to pay $31M to resolve Swiss bank probe
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November 24, 2015
15:05 EDTJPMFed to provide means for banks examiners to express divergent views
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10:20 EDTJPMJPMorgan asks users of Quicken to verify data, WSJ reports
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November 23, 2015
09:00 EDTJPMChase Visa cardholders can now use Samsung Pay
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November 22, 2015
18:50 EDTDBDeutsche Bank to cut 1,000 jobs in London, Sunday Times says
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November 18, 2015
08:55 EDTJPMMorgan Stanley exec sees Q4 not much better than Q3 for banks, DJ reports
Morgan Stanley (MS) Institutional Securities President Colm Kelleher cautioned that fixed-income markets "still seem subdued," according to Dow Jones, citing his comments at an investment conference. Morgan Stanley was among the banks that reported lower revenue from fixed-income, currency and commodities trading during the third quarter and Kelleher said he doesn't think "the fourth quarter is going to be much better," the report noted. Large bank peers to Morgan Stanley include Bank of America (BAC), Citi (C), Goldman Sachs (GS), JPMorgan (JPM), U.S. Bancorp (USB) and Wells Fargo (WFC). Reference Link
November 17, 2015
19:57 EDTASHAshland enters into $500M accelerated share repurchase
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18:34 EDTJPMU.S. pursuing criminal charges against JPMorgan, RBS executives, WSJ says
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07:50 EDTJPM, DBClearing House to hold a conference
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07:48 EDTJPMBofa/Merrill to hold a conference
Banking & Financial Services Conference 2015 is being held in New York on November 17-18.
November 16, 2015
11:24 EDTDB, JPMClearing House to hold a conference
Clearing House Annual Conference is being held in New York on November 16-18.
09:42 EDTJPMJPMorgan reports October net credit losses 2.22% vs. 2.21% last month
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08:58 EDTJPMAmerican Express slips following Marriott, Starwood deal announcement
Shares of American Express (AXP) are slipping in pre-market trading following the news that Marriott (MAR) and Starwood Hotels & Resorts (HOT) have agreed to merge. In early June, American Express and Starwood announced new benefits to the Starwood Preferred Guest credit card. Marriott, however, has its co-brand program with JPMorgan Chase (JPM) and the early weakness in American Express shares could reflect concern over a potential change in the merged hotels' co-brand relationships. In pre-market trading, AxEx shares are down about 0.5% to $70.88.
November 13, 2015
10:00 EDTDBOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Abbott (ABT) downgraded to Neutral from Buy at Goldman... Advance Auto Parts (AAP) downgraded after Q3 miss at Sterne Agee CRT... CafePress (PRSS) downgraded to Underperform from Market Perform at Raymond James... (CTRP) downgraded to Outperform from Strong Buy at Raymond James... CubeSmart (CUBE) downgraded to Outperform from Strong Buy at Raymond James... Deutsche Bank (DB) downgraded to Neutral from Buy at Citi... Digital Ally (DGLY) downgraded to Neutral from Buy at Roth Capital... El Pollo Loco (LOCO) downgraded to Neutral at Baird... F5 Networks (FFIV) downgraded to Market Perform from Outperform at William Blair... FirstMerit (FMER) downgraded on stock outperformance at Raymond James... Fly Leasing (FLY) downgraded to Underweight from Neutral at JPMorgan... GameStop (GME) downgraded on valuation, digital impact at Pacific Crest... Histogenics (HSGX) downgraded to Neutral from Buy at BTIG... MaxPoint (MXPT) downgraded to Hold from Buy at Needham... Memorial Resource (MRD) downgraded to Outperform at Scotia Howard Weil... Rite Aid (RAD) downgraded to Neutral from Overweight at JPMorgan... Rubicon Minerals (RBY) downgraded to Sell from Hold at Canaccord... SABMiller (SBMRY) downgraded to Hold from Buy at Berenberg... Sensata (ST) downgraded at SunTrust... Stryker (SYK) downgraded to Neutral from Buy at Goldman.
05:34 EDTDBDeutsche Bank downgraded to Neutral from Buy at Citi
Citi downgraded Deutsche Bank to Neutral citing declining investment bank revenue and the bank's need for greater investment.
November 12, 2015
09:19 EDTJPMPayPal sinks with Apple eyeing peer-to-peer payments
Shares of PayPal (PYPL) are weak again this morning following a report yesterday afternoon alleging that Apple (AAPL) is set to launch a competitor to one of the payment technology company's offerings. Analysts that were already split about PayPal's prospects are also divided on the potential impact of Apple's entry, with a bull at Citi downplaying the risk and a bear at Piper Jaffray voicing greater concern. APPLE COMPETITION: Apple is in talks with U.S. banks to create a mobile person-to-person payment service, reported The Wall Street Journal yesterday afternoon, citing people familiar with the matter. Apple's service, which would likely be linked to the company's Apple Pay system and could get off the ground next year, would compete with PayPal's Venmo peer-to-peer, or P2P, payment platform, the Journal said. BULLISH TAKE: Citi analyst Ashwin Shirvaikar says his Buy thesis on PayPal is unchanged after the Journal's report regarding Apple's efforts. Apple is a "viable competitor in a crowded field," but its product is unlikely to change the near-term growth trajectory of PayPal's Venmo, Shirvaikar told investors in a research note. He keeps a Buy rating on PayPal with a $44 price target. BEARISH TAKE: Piper Jaffray analyst Gene Munster believes Apple's reported plans for a P2P payment offering sometime in 2016 will have limited to no impact on his model for the iPhone maker, but cautions that more mobile wallets offering P2P will add to the challenges facing PayPal's Venmo. The analyst believes the "real estate for all logos at the point-of-sale will be scarce and cluttered," noting that in addition to new entrants like Apple Pay, Samsung Pay, Google's (GOOG) Android Pay, JPMorgan's (JPM) Chase Pay, MCX/CurrentC and PayPal there are still legacy players such as Visa (V) Checkout, MasterCard (MA) Masterpass, and American Express' (AXP) Express Checkout. Munster thinks Venmo is a strong offering that will keep gaining share, but in addition to competition, he sees low interest rates hindering float income and thinks the value proposition for consumers and merchants remains "uncertain." The analyst keeps an Underweight on PayPal, which is the firm's equivalent of a "sell" rating, with a $30 target for its shares. PRICE ACTION: Shares of PayPal slipped 1.8% to close at $36.33 yesterday following the Journal's report. In pre-market trading, the stock fell another 1% to $36 per share.
06:12 EDTJPMMorgan Stanley to offer wealth management clients savings accounts, Reuters says
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