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Stock Market & Financial Investment News

News Breaks
April 9, 2014
07:41 EDTBAC, ALLBofA unit, Allstate dismiss toxic mortgage debt suit, Reuters says
Allstate (ALL) and Bank of America's (BAC) Countrywide unit have agreed to end a lawsuit stemming from $700M of toxic mortgage debt, according to Reuters, citing a court filing. Reference Link
News For BAC;ALL From The Last 14 Days
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September 22, 2014
10:00 EDTBACBank of America rallies, levels to watch
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September 20, 2014
19:48 EDTBACBank of America could climb over 50%, Barron's says
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September 19, 2014
16:00 EDTBACOptions Update; September 19, 2014
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10:06 EDTALLOn The Fly: Analyst Downgrade Summary
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07:10 EDTALLMarchex price target cut to $6 from $12 at RBC Capital
RBC Capital cut its price target on Marchex (MCHX) after the company announced that Allstate (ALL) would no longer be its customer. However, the firm notes that Marchex has about $3.40 per share in cash, and it still believes that the company can benefit from the mobile and local Internet "megatrend." It keeps an Outperform rating on the shares.
06:26 EDTALLAllstate downgraded to Equal-Weight from Overweight at Evercore
September 18, 2014
16:00 EDTBACOptions Update; September 18, 2014
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14:08 EDTBACBanks look to high-interest personal loans to boost revenue, WSJ says
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12:45 EDTALLOn The Fly: Midday Wrap
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08:59 EDTALLOn The Fly: Pre-market Movers
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06:20 EDTALLMarchex cuts 2014 call-driven revenue outlook due to revised Allstate commitment
Allstate (ALL) has indicated its desire to move to a fixed fee model going forward. Under this proposed model, Marchex’s (MCHX) economic upside would have been limited, while financial exposure to Marchex would have remained. Marchex does not believe it is in its best long-term interest to work under such an arrangement. Marchex will continue to work with Allstate as an integration partner utilizing its call analytics technology. Marchex expects this will be a relatively small financial contributor. Marchex CEO Russell Horowitz said, "“This outcome is disappointing, as we believe that a performance-based model is the way most companies are progressing. This is the trend we are seeing with our customer base... Beyond Allstate, we continue to experience growth in our customer base for call-driven advertising products and believe we are early in the customer adoption phase of mobile and call-driven advertising."
September 17, 2014
16:00 EDTBACOptions Update; September 17, 2014
iPath S&P 500 VIX Short-Term Futures down 24c to 27.63. Option volume leaders: AAPL TSLA BAC TWTR AMZN X WLT KO PBR according to Track Data.
13:16 EDTBACHolder says DOJ looking to charge bank executives, Washington Post says
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06:54 EDTBACNY Attorney General announces NYC bank identity-theft ring takedown
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September 16, 2014
16:00 EDTBACOptions Update; September 16, 2014
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14:44 EDTBACVirginia AG files $1.15B lawsuit against banks that sold RMBS during crisis
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13:15 EDTBACBank of America gives up $6B in revenue with new consumer strategy, Reuters says
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11:54 EDTBACBank of America reportedly cutting jobs in NY, Houston, DealBreaker says
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07:43 EDTBACRBC Capital to hold a conference
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06:03 EDTBACHuntington Bancshares completes acquisition of 24 Bank of America branches
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