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Stock Market & Financial Investment News

News Breaks
December 19, 2012
10:10 EDTAXP, USB, SD, KB, CPWR, BJRI, SYMM, PFG, HRB, CB, BBT, WFC, SWHC, PDCE, GTAT, CPOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: American Express (AXP) downgraded to Equal Weight from Overweight at Evercore... BB&T (BBT) downgraded to Equal Weight from Overweight at Morgan Stanley... BJ's Restaurants (BJRI) downgraded to Neutral from Outperform at Wedbush... Canadian Pacific (CP) downgraded to Sector Perform from Outperform at Scotia Capital... Chubb (CB) downgraded to Equal Weight from Overweight at Morgan Stanley... Compuware (CPWR) downgraded to Market Perform from Outperform at Northland Securities... GT Advanced (GTAT) downgraded to Neutral from Overweight at Piper Jaffray... H&R Block (HRB) downgraded to Neutral from Buy at Compass Point... KB Financial Group (KB) downgraded to Neutral from Buy at UBS... PDC Energy (PDCE) downgraded to Hold from Buy at Canaccord... Principal Financial (PFG) downgraded to Underweight from Equal Weight at Evercore... SandRidge Energy (SD) downgraded to Neutral from Buy at Citigroup... Smith & Wesson (SWHC) downgraded to Neutral from Outperform at Cowen... Symmetricom (SYMM) downgraded to Neutral from Buy at B. Riley... U.S. Bancorp (USB) downgraded to Equal Weight from Overweight at Morgan Stanley... Wells Fargo (WFC) downgraded to Equal Weight from Overweight at Evercore.
News For AXP;BBT;BJRI;CP;CB;CPWR;GTAT;HRB;KB;PDCE;PFG;SD;SWHC;SYMM;USB;WFC From The Last 14 Days
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November 12, 2014
12:38 EDTBBTOn The Fly: Midday Wrap
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11:45 EDTUSBU.S. Bancorp CEO says relieved bank is not bigger than it is
Sees better industry wide loan growth in 2015 vs. 2014. Says consumers cautious getting deeper in auto, credit cards. Comments made at the Bank of America Merrill Lynch Banking and Financial Services Conference.
09:43 EDTBBTSusquehanna downgraded to Underperform at Boenning & Scattergood
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09:36 EDTWFCInformation Management Network to hold a symposium
Private Label RMBS Reform Symposium is being held in New York on November 12.
09:21 EDTBBTOn The Fly: Pre-market Movers
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08:07 EDTAXPMacy's, Citi Retail Services renew card agreement
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08:05 EDTCPGoldman to hold a conference
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07:53 EDTBBTBB&T to host conference call
Conference call to discuss acquisition of Susquehanna Bancshares will be held on November 12 at 8:30 am. Webcast Link
07:28 EDTUSB, AXP, WFCBofA/Merrill to hold a conference
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07:04 EDTBBTBB&T to acquire Susquehanna Bancshares for approximately $2.5B
BB&T (BBT) and Susquehanna (SUSQ) announced the signing of a definitive agreement under which BB&T will acquire Susquehanna in a cash and stock transaction for total consideration valued at approximately $2.5B.In connection with the acquisition, BB&T plans to establish three new banking regions encompassing certain markets in Pennsylvania and New Jersey. BB&T also plans to integrate its Baltimore region with Susquehanna's. These four regions are expected to be led by legacy Susquehanna executives. Under the terms of the agreement, which was approved by the boards of each company, shareholders of Susquehanna will receive as merger consideration 0.253 shares of BB&T common stock and $4.05 in cash for each share of Susquehanna common stock. The merger consideration is valued at $13.50 per share based on the average closing price of BB&T over the 45 trading days ending on November 10, 2014. BB&T expects to incur pre-tax merger and integration costs of approximately $250M and expects to achieve annual cost savings of approximately $160M. BB&T expects this acquisition to be accretive to earnings per share in the first full year excluding one-time charges and expects the transaction to exceed its IRR hurdle. This acquisition is subject to customary closing conditions including regulatory approvals and approval of Susquehanna shareholders.
07:02 EDTBBTBB&T to acquire Susquehanna Bancshares for approximately $2.5B
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November 11, 2014
07:06 EDTWFCJinkoSolar subsidiary signs $20M credit agreement with Wells Fargo Bank
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05:54 EDTSDStocks with implied volatility movement; AUY SD
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November 10, 2014
15:17 EDTAXPCFPB may require added disclosures on prepaid cards, WSJ says
The Consumer Financial Protection Bureau is expected to propose new rules later this week that will require more disclosure for prepaid debit cards and cracking down on allowing consumers to spend more money on the cards than they have, according to The Wall Street Journal, citing people familiar with the matter. The rules come as traditional financial institutions, such as JPMorgan (JPM) and American Express (AXP) have moved into the business and the industryís biggest players donít allow overdrafts so it is unclear whether the new rules will dent industry profits, the report said. Green Dot (GDOT) also does not permit overdrafts and Visa (V) recently excluded overdraft abilities in guidelines for its prepaid cards, the report added. Reference Link
15:07 EDTAXPRegulators may require added disclosures on prepaid cards, DJ says
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07:12 EDTWFCCA Technologies to hold a conference
CA World 2014 is being held in Las Vegas on November 9-12.
06:53 EDTUSBBank of America, U.S. Bancorp settle bond trustee class action, Reuters says
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06:46 EDTWFC, USBRegulators set new capital buffer rule for banks, Reuters reports
Global banks should have buffers of bonds or equity worth 16%-20% of their risk-weighted assets, beginning in January 2019, The Financial Stability Board decided, according to Reuters. The board said the buffer would prevent the need for government bailouts, the news service explained. Publicly traded global banks include Bank of America (BAC), Citigroup (C), Goldman Sachs (GS), JPMorgan (JPM), Morgan Stanley (MS), U.S. Bancorp (USB) Wells Fargo (WFC), Banco Santander (SAN), Barclays (BCS), Credit Suisse (CS), Deutsche Bank (DB), HSBC (HSBC), ING Groep (ING), Lloyds Banking (LYG), RBS (RBS) and UBS (UBS). Reference Link
06:27 EDTGTATGT Advanced accuses Apple of 'bait-and-switch' in unsealed documents, WSJ says
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05:59 EDTSDSandRidge Energy implied volatility of 96 at upper end of index mean range
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