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Stock Market & Financial Investment News

News Breaks
March 21, 2014
09:13 EDTAXP, COF, DFSAmex, Capital One, Discover can return large amount of profit, says Buckingham
After the Fed released the results of its stress test, Buckingham thinks that American Express (AXP), Capital One (COF), and Discover (DFS) all have significant capital surpluses which should permit them to return a large portion of their earnings to investors via repurchases and dividends in 2014. The firm continues to recommend buying all three stocks.
News For AXP;COF;DFS From The Last 14 Days
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September 18, 2014
14:31 EDTAXP, COFCapital One said to bump Amex as Costco Canada card issuer, Bloomberg says
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14:14 EDTCOF, AXPCapital One said to replace American Express as Costco Canada card issuer
MasterCard said to be processor for new Costco Canada cards. Reported by Bloomberg.
11:53 EDTAXPCostco to stop accepting Amex cards in Canada on Jan 1, 2015 Globe and Mail says
Costco (COST) said it will not renew its credit card relationship with American Express (AXP) when it expires on December 31 of this year. Therefore, it will not accept Amex cards in Canada beginning January 1, 2015, The Globe and Mail reports. Reference Link
September 17, 2014
10:15 EDTDFSDiscover calls active, rumored to be eyed as target by Apple, report
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10:04 EDTDFSDiscover rumored to be eyed as target by Apple, Bank Innovation says
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September 16, 2014
10:22 EDTCOFBanks set for ad battle to be default choice for Apple Pay, Apple Insider says
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September 15, 2014
12:03 EDTAXPAmerican Express reports August write-off rate 1.5% vs. 1.5% last month
Reports August 30 days past due loans 0.9% vs. 0.9% last month.
08:33 EDTDFSDiscover reports August charge-offs 1.81% vs. 1.65% last month
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06:07 EDTCOFCapital One reports August charge-off rate 2.81% vs. 2.88% last month
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September 14, 2014
12:15 EDTAXPAmerican Express could rise almost 30%, Barron's says
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September 12, 2014
07:41 EDTCOFBank lending grew in quarter, with Capital One leading pack, WSJ reports
Total loans outstanding at U.S. banks and thrifts grew by $178.5B in the second quarter, with Capital One Financial (COF) leading the big banks by growing its loans at an annualized rate of 12.5%, according to SNL Financial data, reported The Wall Street Journal. SNL said 14 of the 15 largest U.S. banks increased their lending, with only Bank of America (BAC) issuing fewer loans than the quarter before, largely attributed to a drop in U.S. closed-end residential mortgages, the report noted. Other publicly traded large U.S. banks include Bank of America (BAC), Citigroup (C), Goldman Sachs (GS), Morgan Stanley (MS), U.S. Bancorp (USB) and Wells Fargo (WFC). Reference Link
06:35 EDTCOF, AXPApple getting discounted card fees for Apple Pay, NY Times reports
Banks are charging Apple lower than usual credit card fees for the tech giant's new mobile payment system, according to The New York Times. The banks hope that participating in Apple Pay will enable them to process transactions that aren't currently being paid for with credit cards, the newspaper explained. The banks and credit card networks also hope to use Apple Pay to prevent technologies that don't incorporate banks from becoming popular, The Times reported. Publicly traded credit card networks include American Express (AXP), Capital One (COF), Discover (DFS), MasterCard (MA) and Visa (V). Publicly traded banks include Bank of America (BAC), Citigroup (C), Goldman Sachs (GS), JPMorgan (JPM), Morgan Stanley (MS), U.S. Bancorp (USB) and Wells Fargo (WFC)..Reference Link
September 10, 2014
08:14 EDTAXPVisa best positioned among card networks for Apple Pay, says Pacific Crest
Pacific Crest believes that Visa (V) is the best positioned to benefit from Apple Pay among credit card networks, as the firm notes that Visa cards were prominently displayed in the demonstrations, that accompanied the launch of the service. The firm thinks that Visa's technology leaves it well-positioned to play a critical role in fostering mobile payments with Apple and potentially others like Google (GOOGL). Pacific Crest adds that Apple Pay is also positive for MasterCard (MA) and American Express (AXP). It keeps an Outperform rating on Visa and Sector Perform ratings on MasterCard and American Express.
08:02 EDTAXPApple Pay positive for Visa, MasterCard and American Express, says BofA/Merrill
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September 9, 2014
15:38 EDTCOFCapital One Financial working with Apple's new payment service, Apple Pay
Capital One Financial (COF) announced that it is working with Apple’s (AAPL) new payment service, Apple Pay, available on the new iPhone 6, iPhone 6 Plus and Apple Watch beginning in October. Apple Pay adds a new dimension to mobile payments. With Apple Pay, Capital One customers will be able to use their credit or debit cards directly from their iPhone 6, iPhone 6 Plus and Apple Watch to pay for purchases at many of their favorite stores. To pay, customers just need to hold their iPhone 6 near the contactless reader with their finger on Touch ID and payment is made. In addition, Apple Pay will also allow users to pay for a variety of online purchases in apps.
14:54 EDTCOF, AXPApple announces Apple Pay
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07:28 EDTAXPThe Money Event, Inc to hold a conference
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07:16 EDTDFSDiscover shares undervalued, says Barclays
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September 8, 2014
10:17 EDTAXPAmerican Express President says won't comment on press speculation on Apple
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07:24 EDTAXPBarclays to hold a conference
Global Financial Services Conference to be held in New York on September 8-10.

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