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Stock Market & Financial Investment News

News Breaks
March 15, 2013
14:37 EDTULTA, COF, CHK, WFC, BAC, KKD, AXP, JPM, MS, DFS, EOG, GS, CStocks 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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February 18, 2015
07:33 EDTGSGoldman Sachs vows legal battle with Bank of Portugal over loan, Reuters says
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07:21 EDTWFC, BAC, MS, JPM, C, GSJPMorgan, Citi top government report of riskiest banks, Reuters reports
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07:15 EDTJPMPeterson Institute for International Economics to hold a discussion
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06:57 EDTJPMJPMorgan may shrink interest-rate trading, other units, Bloomberg says
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February 17, 2015
17:43 EDTCHKAmerican Energy - Utica responds to Chesapeake lawsuit
American Energy Utica, LLC, or AEU, and The Energy & Minerals Group, or EMG, responded to a meritless lawsuit commenced against AEU by Chesapeake Energy. Chesapeake has erroneously included AEU and certain yet to be named investors in a lawsuit it filed today against certain entities owned or controlled by Aubrey McClendon including American Energy Partners, LP, based on a dispute it has with McClendon in which Chesapeake alleges McClendon misappropriated certain Chesapeake trade secrets upon his separation from Chesapeake in 2013. Chesapeake clearly does not understand the ownership or structure of AEU, which is controlled by EMG, and Chesapeake has made no attempt to understand the ownership structure prior to carelessly and erroneously naming AEU as a party to its lawsuit. The allegations in the Chesapeake lawsuit against AEU are meritless given that all information used by AEU in connection with the acquisition of its assets was either publicly available, provided by the sellers of those assets or independently developed by The Energy & Minerals Group or W.D. Von Gonten & Co., a widely regarded independent petroleum engineering and geological firm with whom EMG has a long standing relationship. EMG is the largest equity investor in AEU followed by First Reserve. Both EMG and FR have been involved with AEU since the initial acquisition of its assets in October, 2013 yet neither was contacted by Chesapeake prior to the filing of this lawsuit. AEU will immediately respond to and vigorously defend this lawsuit and expects to be removed as a defendant as quickly as possible. Additionally, AEU and EMG intend to bring any and all appropriate counterclaims against Chesapeake for the filing of such a meritless case without conducting any reasonable investigation into the factual and legal basis for the claim and for any damages that are incurred by any of such parties as a result.
16:00 EDTCOptions Update; February 17, 2015
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14:01 EDTCCiti reports January credit loss 2.30% vs. 2.79% last month
Reports January delinquencies 1.61% vs. 1.56% last month.
12:08 EDTAXPAmerican Express reports January write-off rate 1.4% vs. 1.3% last month
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11:24 EDTCHKMcClendon, American Energy say Chesapeake lawsuit 'baseless'
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10:46 EDTJPMJPMorgan reports January net credit losses 2.53% vs. 2.56% last month
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10:41 EDTCHKChesapeake files suit against founder McClendon, Reuters reports
Chesapeake Energy filed suit today alleging that its founder and former CEO, Aubrey McClendon, "misappropriated highly sensitive trade secrets" in order to launch his new venture American Energy Partners, Reuters reports. Reference Link
10:26 EDTBACBank of America reports January default rate 2.93% vs. 3.13% last month
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10:00 EDTAXPOn The Fly: Analyst Downgrade Summary
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09:40 EDTAXP, CActive equity options trading on open
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08:04 EDTCWuXi PharmaTech enters into loan agreement with consortium led by Citi
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08:01 EDTDFSDiscover January charge-offs 1.77% vs. 1.69% last month
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06:39 EDTC, GSBanks settle claims related to mortgage securities, Reuters says
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06:34 EDTAXPAmerican Express downgraded to Neutral from Buy at Guggenheim
06:05 EDTCOFCapital One reports January net charge-off rate 3.57% vs. 3.53% last month
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04:40 EDTAXPStocks with implied volatility movement; AXP GDP
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