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News Breaks
January 31, 2014
12:21 EDTBK, AIG, BACJudge approves $8.5B BofA settlement opposed by AIG, WSJ says
A New York State judge ruled that the trustee for investors, Bank of New York Mellon (BK), acted in good faith and approved an $8.5B settlement between Bank of America (BAC) and investors over mortgage-backed securities that was being opposed by AIG (AIG), reported The Wall Street Journal. Reference Link
News For BAC;AIG;BK From The Last 14 Days
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November 23, 2015
10:20 EDTAIGAIG says maintains 'active dialogue' with shareholders, including Icahn
10:19 EDTAIGAIG says to take actions to further accelerate strategy
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09:39 EDTBACActive equity options trading on open
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09:09 EDTAIGIcahn to commence AIG consent solicitation, may seek board representation
Carl Icahn, who identifies himself as one of AIG's largest shareholders that currently owns over 42M shares, noted he wrote a public letter to the CEO of AIG on October 28 suggesting that the company is "Too Big To Succeed" and should accelerate cost cutting and separate into three public companies to shrink below the threshold for systemically important financial institutions. "Since we released that letter, many large institutional shareholders and analysts have contacted us and expressed their support for our views. We have also met and had a number of conversations with AIG CEO Peter Hancock, and he has invited us to continue having conversations. However, despite that invitation, in all of our discussions with Mr. Hancock it was abundantly clear to us that he is not willing to take the bold steps that we, and so many other shareholders, believe are long overdue. In addition, in those conversations he failed to lay out any alternative strategic plan with the potential to unlock value for shareholders or to provide compelling reasons as to why these businesses belong together," Icahn wrote in a new statement released via his website. Icahn went on to say: "While we plan to accept Mr. Hancock's offer to continue having discussions and meetings with AIG, we do not believe that he will ever sincerely consider what we, and so many others, have proposed. Nor do we believe that the AIG board of directors will respond to the demands of AIG shareholders absent a clear mandate. As a result, we intend to commence shortly a consent solicitation that will enable shareholders to express their views directly to the board, which may include a proposal to add a new director who would agree in advance to succeed Mr. Hancock as CEO if asked by the board to do so. We thank our fellow shareholders for their continued support and look forward to sharing the details of our consent solicitation over the next few weeks."
09:07 EDTAIGIcahn to commence AIG consent solicitation, may seek board representation
November 20, 2015
16:02 EDTBACOptions Update; November 20, 2015
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10:04 EDTBACActive equity options trading on open
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November 19, 2015
16:00 EDTBACOptions Update; November 19, 2015
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09:34 EDTBACActive equity options trading on open
Active equity options trading on open: AAPL CHK BAC FB PFE MU GMCR AMZN NFLX BBY BABA CRM QCOM
November 18, 2015
15:24 EDTAIGIcahn says had 'constructive' meeting with AIG CEO last week, Reuters reports
Carl Icahn says still long AIG, reiterates call for break-up, Reuters reports, citing comments made by the investor at the news service's summit.
08:55 EDTBACMorgan 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
06:50 EDTAIGAIG CEO opposes split but open to divestitures, WSJ says
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06:13 EDTBACBofA CEO: Banks trying to revamp checking to fend off startups, Bloomberg says
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November 17, 2015
16:01 EDTBACOptions Update; November 17, 2015
iPath S&P 500 VIX Short-Term Futures up 1.32 to 21.07. Option volume leaders: GE BAC AAPL FB NFLX SYF WMT CSCO MU SUNE VRX BABA AMZN HD FCX
07:50 EDTBK, BACClearing House to hold a conference
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November 16, 2015
18:03 EDTAIGAIG amends by-laws to implement proxy access
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17:16 EDTAIGIcahn liquidated eBay stake, took Paypal stake
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16:00 EDTBACOptions Update; November 16, 2015
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11:24 EDTBAC, BKClearing House to hold a conference
Clearing House Annual Conference is being held in New York on November 16-18.
10:12 EDTBACBank of America reports October default rate 2.57% vs. 2.44% last month
Reports October delinquency rate 1.68% vs. 1.65% last month.
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