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Stock Market & Financial Investment News

News Breaks
February 7, 2013
08:07 EDTWFC, ATNYAPI Technologies repays term loan and enters into new credit agreements
API Technologies (ATNY) has entered into a credit agreement with Guggenheim Corporate Funding that provides for a $165M term loan facility. Additionally, the company has entered into a separate agreement for a $50M revolving borrowing base credit facility with Wells Fargo (WFC) Bank, National Association, as administrative agent, upon which the company drew $29.4M at closing. Proceeds from these two facilities were used to pay in full the company’s existing credit facility, certain indebtedness in the United Kingdom, and to pay fees, costs and expenses associated with the refinancing.
News For ATNY;WFC From The Last 14 Days
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March 2, 2015
06:41 EDTWFCWells Fargo to place limit on subprime auto loans, NY Times reports
Wells Fargo has decided to limit the dollar volume of its subprime auto loans to 10% of its overall auto loan originations, bank executives said, according to The New York Times. Reference Link
March 1, 2015
13:05 EDTWFCBerkshire's Buffett says 2015 will be 'tough year' for 'Big Four' investments
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February 27, 2015
08:01 EDTWFCWells Fargo fires Ocwen as bond overseer, hires Credit Suisse, Bloomberg says
Wells Fargo (WFC) has issued notices to Ocwen (OCN) terminating it as overseer of debt backing for two bond deals, reports Bloomberg, citing letters sent from Wells Fargo to bondholders. Wells Fargo stated in notices sent to bondholders that a majority of investors felt the move was correct. Wells Fargo plans to transfer responsibility to Credit Suisse (CS). Reference Link
February 26, 2015
15:02 EDTWFCFed 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).
10:50 EDTWFCNew York regulator considering cybersecurity, cash laundering controls, WSJ says
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February 24, 2015
08:03 EDTATNYAPI Technologies receives patent for EOD robot aiming device
API Technologies has been awarded a new patent for its aiming device for a bomb disarming disrupter. The Hawk-i™ Video Aiming Device uses a camera and a rangefinder to automatically assess range to target, then generates crosshairs on a video monitor. Bomb technicians then use this targeting guidance to fire a precise shot, which disarms the explosive. Use of the Hawk-i speeds aiming time and decreases chances of misfire due to human error.
07:12 EDTWFCWells Fargo to hold a conference
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February 19, 2015
06:47 EDTWFCReport 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
07:21 EDTWFCJPMorgan, Citi top government report of riskiest banks, Reuters reports
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