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Stock Market & Financial Investment News

News Breaks
March 15, 2013
14:37 EDTDFS, EOG, GS, C, ULTA, COF, CHK, WFC, BAC, KKD, AXP, JPM, MSStocks set to end week higher as data helps lift shares
Stronger than expected U.S. economic data have left the market poised for yet another weekly advance... MACRO NEWS: The U.S. government reported lower than expected weekly jobless claims and an index of retail sales for February came in significantly higher than expected. However, an index of consumer sentiment for March was meaningfully below economists' consensus estimate... Economic data out of China, meanwhile, was somewhat weak, as the country reported that its industrial production rose 9.9% in January and February, the smallest advance since October 2012... COMPANY NEWS: The Fed approved the capital allocation plans of most of the nation's largest banks, including Bank of America (BAC), Citigroup (C), Morgan Stanley (MS) and Wells Fargo (WFC). The Fed did not object to the substance of capital plans submitted by Goldman Sachs (GS) and JPMorgan (JPM), but required those two institutions to submit new plans to address "weaknesses in their capital planning processes." The central bank also approved capital plans submitted by American Express (AXP), Capital One (COF) and Discover Financial (DFS)... Most natural gas stocks advanced significantly this week as the price of the commodity rose... On a negative note, Krispy Kreme (KKD), which sells doughnuts and coffee, sank after reporting lower than expected fourth quarter adjusted earnings per share. Also, Ulta Salon (ULTA), a retailer that specializes in beauty products, plunged after its first quarter guidance came in below analysts' consensus estimate.
News For BAC;C;MS;WFC;GS;JPM;CHK;EOG;AXP;COF;DFS;KKD;ULTA From The Last 14 Days
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December 9, 2014
10:27 EDTCCitigroup says leverage ratio is not binding constraint for company
10:13 EDTCCitigroup CEO sees $2.7B charges in Q4 to address legal reserve charges
CEO Michael Corbat said that after taking the charges in Q4, the company will be "marginally profitable." Comments taken from Goldman Sachs Financial Services conference.
10:10 EDTCCitigroup to take $3.5B in additional charges in Q4, CNBC reports
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09:38 EDTC, BACActive equity options trading
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09:15 EDTBACBank of America sees Q4 sales and trading revenue down linked-quarter, y/y
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09:03 EDTKKDKrispy Kreme December volatility elevated as shares trend up into Q3 and outlook
Krispy Kreme December call option implied volatility is at 74, January is at 46, February is at 41; compared to its 26-week average of 42 according to Track Data, suggesting large near term price movement into the expected release of Q3 results today.
08:24 EDTCCitigroup to sell Japanese consumer unit to Sumitomo Mitsui, Bloomberg says
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07:01 EDTEOGEOG Resources coverage resumed with a Hold at Stifel
05:59 EDTCCitigroup appointed successor depositary bank for Deutsche Post ADR program
Citi (C), acting through Citibank N.A., has been appointed by Deutsche Post AG (DPSGY) as successor depositary bank for its Level 1 American Depositary Receipt, or ADR, program. Deutsche Post DHL’s ADR program trades in the U.S. over the counter market, with each ordinary share equivalent to 1 ADR.
December 8, 2014
18:37 EDTEOGEOG Resources divests majority of Canadian assets
EOG Resources announced the divestiture of all its assets in Manitoba and certain assets in Alberta in two separate transactions that closed on November 28 and December 1. Approximate proceeds from the divestitures were US$410M, net of customary transaction adjustments. As a result of these transactions, approximately US$150M of restricted cash related to future abandonment liabilities was released. The proceeds and cash will be utilized for general corporate purposes. Current forecast production from the divested assets is approximately 7,050 barrels of crude oil per day, 580 barrels of natural gas liquids per day and 43.5M cubic feet of natural gas per day. Net proved reserves divested are estimated to be 7.7M barrels of oil, 0.8M barrels of NGLs and 78.7B cubic feet of natural gas. EOG divested 1.3M gross acres, 97% of which were in Alberta. Of the approximate 5,800 producing wells sold, 5,255 were natural gas. EOG has retained approximately 382,200 gross acres in Alberta, British Columbia and Saskatchewan. EOG will maintain an operations office in Alberta
16:55 EDTCLone Star joins Springleaf as bidder for Citigroup OneMain unit, Bloomberg says
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16:00 EDTBAC, COptions Update; December 8, 2014
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15:40 EDTCLone Star joins Springleaf as bidder for Citigroup OneMain unit, Bloomberg says
15:26 EDTWFCDeutsche Bank sued by U.S. over alleged scheme to avoid income taxes
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11:55 EDTGSGoldman Sachs ordered to pay $7.6M in wrongful discharge claim
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10:20 EDTULTAOptions with decreasing implied volatility
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10:00 EDTWFCOn The Fly: Analyst Downgrade Summary
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07:52 EDTWFCWells Fargo downgraded to Market Perform from Outperform at Bernstein
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06:35 EDTMS, BAC, C, WFC, JPM, GSValue of Wall Street's M&A bankers has risen, NY Times says
The value of Wall Street's bankers who advise large companies seems to be increasing, while traders are becoming less valuable, according to The New York Times. Bankers who work on M&A deals are expecting their bonuses to increase, while traders anticipate that their compensation will drop, the newspaper added. Furthermore, banks seem to be going the extra mile to hire top notch bankers, the newspaper stated. Publicly traded large 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
06:21 EDTMS, JPM, CDeadline for Petsmart bidders extended as lenders put on leash, NY Post reports
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