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News Breaks
January 7, 2013
11:12 EDTUBS, STI, PNC, JPM, MET, C, WFC, BACOCC says IFR settlement to speed recovery in nationís housing markets
The Office of the Comptroller of the Currency released the following statement by Comptroller of the Currency Thomas Curry regarding the settlement with 10 mortgage servicers subject to enforcement actions for deficient practices in mortgage loan servicing and foreclosure processing: "When we began the Independent Foreclosure Review, the OCC pledged to fix what was broken, identify who was harmed, and compensate them for that injury. While todayís announcement represents a significant change in direction, it meets those original objectives by ensuring that consumers are the ones who will benefit, and that they will benefit more quickly and in a more direct manner. We have learned a great deal from the reviews that have been conducted to date. However, it has become clear that carrying the process through to its conclusion would divert money away from the impacted homeowners and also needlessly delay the dispensation of compensation to affected borrowers. Our new course of action will get more money to more people more quickly, and it will speed recovery in the nationís housing markets."
News For BAC;C;JPM;WFC;MET;PNC;STI;UBS From The Last 14 Days
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January 18, 2015
15:14 EDTCMashreqbank interested in Citigroupís Egyptian consumer unit, Bloomberg says
Dubai-based bank, Mashreqbank PSC confirmed it is interested in acquiring Citigroupís Egyptian consumer banking unit, says Bloomberg citing comments from Mashreqbank PSC CEO Abdul Aziz Al Ghurair. Reference Link
January 16, 2015
16:36 EDTWFC, BAC, JPMMarket finishes week lower on continued oil, global growth worries
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16:00 EDTBACOptions Update; January 16, 2015
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13:01 EDTCCitigroup losses on currency top $150M, Bloomberg reports
Citigroup's (C) losses after the Swiss central bank abandoned the cap on the franc's value against the euro totaled more than $150M, a source tells Bloomberg. The losses occurred on the bank's trading desks and aren't related to its relationships with FXCM (FXCM) and other platforms, the source adds. Reference Link
12:43 EDTCCiti losses on currency top $150M, Bloomberg reports
12:43 EDTPNCOn The Fly: Midday Wrap
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10:54 EDTPNCPNC Financial says 'not in the market' for acquisitions
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10:49 EDTPNCPNC Financial says doesn't see special dividend in 2015
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10:31 EDTPNCPNC Financial says FY15 revenue will continue to be under pressure
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10:10 EDTPNCPNC Financial: Revenue growth will remain a challenge until interest rates rise
Says revenue growth will remain a challenge until interest rates rise. Says 2015 looks "a lot" like 2015 at the moment. Comments made on the Q4 earnings conference call.
09:37 EDTC, BACActive equity options trading
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08:56 EDTSTISunTrust sees NII 'treading water' around $1.2B level
Sees Q1 NIM down 7-9 bps from present level. Sees FY15 costs $5.2B-$5.3B. Sees y/y improvement in efficiency ratio in 2015.
08:32 EDTSTISunTrust doesn't see core costs increasing in 2015
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08:25 EDTBACMorgan Stanley says to buy the dip in Bank of America
Morgan Stanley said investors are missing the fact that Bank of America's the $578M FAS91 charge is non-cash and temporary and can reverse with higher rates. The analyst said Bank of America's expense decline is ahead of expectations and expects increased capital returns. Morgan Stanley recommends buying Bank of America on the dip and reiterates its Overweight rating and $21 price target.
08:24 EDTCCiti catalysts can still drive multiple expansion, says Wells Fargo
After Citi reported slightly lower than expected Q4 results, Wells Fargo thinks the company still has several positive upcoming catalysts that could cause its multiple to rise. The firm cut its price target on the name to $57-$60 from $60-$63 but keeps an Outperform rating on the shares.
08:20 EDTSTISunTrust sees swap income declining in 2015 vs. 2014
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07:16 EDTPNCPNC Financial sees 'stable' net interest income in Q1
Sees "modest" loan growth in 1Q15 vs. 4Q14. Sees fee income down mid-single digits in Q1 from Q4 due to seasonality and client activity. Sees Q1 noninterest income down high single digits. Sees Q1 loan loss provision $50M-$100M. Comments from slides that will be presented on the Q4 earnings conference call.
07:02 EDTBACWet Seal files for Chapter 11 bankruptcy protection
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06:55 EDTPNCPNC Financial reports Q4 EPS $1.84, consensus $1.74
Reports Q4 revenue $3.95B, consensus $3.8B. Reports Q4 net interest income $986M. Reports Q4 book value per share $77.61. Reports Q4 transitional Basel III Tier 1 capital ratio 11%. Reports Q4 net charge-off 0.23%.
06:04 EDTSTISunTrust reports Q4 adjusted EPS 88c, consensus 78c
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