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News For BA;FB;WFC;AA From The Last 14 Days
Check below for free stories on BA;FB;WFC;AA the last two weeks.
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April 9, 2014
06:27 EDTWFCBig banks must add capital to comply with new rules, WSJ reports
A of January 1, 2018, the U.S.'s eight largest banks -- including Citigroup (C), JPMorgan (JPM) and Goldman Sachs (GS) -- must add up to $68B in extra capital to comply with a new rule intended to help firms weather losses during periods of market stress, the Wall Street Journal. The banks will be required to maintain well above the minimum levels of capital held against assets on their books. Banks must report the new levels next year. Reference Link
06:03 EDTFBFacebook making slight changes to privacy settings, Re/code reports
Re/code reports that Facebook is slightly tweaking its privacy settings in a move to minimize "accidental sharing incidents." The company is also testing privacy surveys to see which features users are not comfortable with. Reference Link
April 8, 2014
18:56 EDTAAOn The Fly: After Hours Movers
NOTABLE: General Motors (GM) was fined by the National Highway Traffic Safety Administration for failing to respond to the agency's inquiry into the company's recall of faulty ignition switches in a timely manner... According to a report by The Wall Street Journal, Goldman Sachs (GS) executives have broached the subject of closing its dark pool trading operation, Sigma X. HIGHER: Constant Contact (CTCT), up 13% after giving a preliminary first quarter revenue outlook that beat estimates and raising its fiscal 2014 revenue guidance... Alcoa (AA), up 2.5% after reporting adjusted profit that beat estimates on revenue that missed expectations. LOWER: Intuitive Surgical (ISRG), down 9.5% after giving a first quarter revenue outlook that widely missed expectations and saying it will take a $67M charge in the quarter related to legal settlements.
17:49 EDTAAAlcoa says year to date productivity gains ahead of schedule
On Alcoa's Q1 earnings conference call, management noted that the company's year to date productivity was ahead of schedule. Alcoa achieved $250M of productivity actions during the quarter against its target of $850M for the year. The company had its lowest debt since the third quarter of 2007, and its debt to capital was down to its target range. Management still anticipates generating positive free cash flow for the year. They reaffirmed expectations that aluminum demand will grow globally at 7% this year, or 4% excluding China, and said that supply and demand for both the alumina and aluminum markets are essentially balanced. Additional after-tax restructuring charges of $100M-$125M during FY14 are anticipated from the closing of Australian plants. Approximately 85% of these charges are expected to be non-cash.
16:23 EDTAAAlcoa CEO: Company is growing revenue in 'value added' segments
Says there is "exciting growth" in downstream business. Says automotive has the potential to be a $1B business. Says the company is focusing on Aerospace, Automotive, Packaging segments. Says not concerned about growing revenues. Says China does not have the fundamentals to be competitive in the aluminum business. Klaus Kleinfeld is speaking on CNBC.
16:21 EDTFBOn The Fly: Closing Wrap
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16:07 EDTAAAlcoa CEO says hit record downstream profitability in Q1
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16:06 EDTAAAlcoa raises 2014 global aerospace growth view to 9% from 8%
Alcoa is increasing its 2014 global aerospace growth expectation by one percentage point (8% to 9%, previously 7% to 8%), on strong demand for both large commercial aircraft and regional jets and continued growth in the business jet market. The company also continues to project 2014 growth in automotive (1% to 4%), packaging (2% to 3%), and building and construction (4% to 6%). Alcoa expects a steady commercial transportation market (-1% to 3%) and a decline in the industrial gas turbine market (-8% to -12%) on lower orders for new gas turbines and spare parts.
16:04 EDTAAAlcoa continues to see 2014 global aluminum demand growth of 7%
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16:03 EDTAAAlcoa reports Q1 adjusted EPS 9c, consensus 5c
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16:01 EDTAAApple Netflix Citigroup Tesla Banco Santander Alcoa
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15:12 EDTAANotable companies reporting after market close
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15:03 EDTAAAlcoa technical comments ahead of results
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13:49 EDTAAAlcoa April weekly 13 straddle priced for 6.3% move into Q1
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09:35 EDTAAActive equity options trading on open
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09:00 EDTFBCLSA social media analysts hold an analyst/industry conference call
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07:31 EDTAAFutures suggest lower open for broader market
Stock futures are pointing to a moderately lower open as the market will try to reverse its recent downward trend. Investors will receive little help throughout the day, as little economic data is slated to be released. The Nasdaq has led the market lower, as it has seen its biggest three day drop since November 2011. The unofficial kickoff of the earnings season will occur tonight, when Alcoa (AA) is scheduled to release its first quarter results.
07:28 EDTFBFour Internet stocks attractive after pullbacks, says Stifel
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07:28 EDTFBSecurity Innovation Network to hold a forum
IT Security Entrepreneurs Forum: ITSEF 2014 is being held in Mountain View, California on April 8-9.
April 7, 2014
19:57 EDTWFCFederal Reserve announces extension on some CLOs
The Federal Reserve Board announced that it intends to exercise its authority to give banking entities two additional one-year extensions to conform their ownership interests in and sponsorship of certain collateralized loan obligations, or CLOs, covered by section 619 of the Dodd-Frank Wall Street Reform and Consumer Protection Act, commonly referred to as the Volcker rule. Section 619 of the Dodd-Frank Act directed the board to adopt rules for the conformance period and the board previously extended the conformance period for all activities and investments by one year to July 21, 2015. To ensure effective compliance, the board intends to grant banking entities two additional one-year extensions, which together would extend until July 21, 2017, to conform their ownership interests in and sponsorship of CLOs to the statute. Publicly traded companies that may be impacted by the announcement 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
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