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Stock Market & Financial Investment News

News Breaks
March 14, 2013
19:11 EDTBAC, JPM, GS, ARO, ULTA, GLDD, OGE, CNP, COF, DFS, BBTOn The Fly: After Hours Movers
HIGHER: A number of financial companies, including Bank of America (BAC), up 3.2%, Discover (DFS), up 2.9%, and Capital One (COF), up 1.2%, advanced after the Federal Reserve approved their respective capital plans for 2013... CenterPoint Energy (CNP), up 4% after announcing a midstream partnership with OGE Energy (OGE)... DOWN AFTER EARNINGS: Great Lakes Dredge (GLDD), down 33% after reporting earnings, saying it would restate Q2 and Q3 revenue in its demolition segment, and announcing the departure of its COO... Ulta Salon (ULTA), down 10.8%... Aeropostale (ARO), down 7.3%... ALSO LOWER: Goldman Sachs (GS), down 1.8%, and JPMorgan (JPM), down 2.1% after the Federal Reserve said the companies need to submit new capital plans by the end of Q3 to address certain weaknesses... BB&T (BBT), down 2.9% after the Federal Reserve objected to some elements of its capital plan.
News For BAC;DFS;COF;CNP;OGE;GLDD;ULTA;ARO;GS;JPM;BBT From The Last 14 Days
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October 21, 2014
16:08 EDTDFSDiscover reports Q3 total loans up $4.6B to $67.4B
Discover reports Direct Banking pretax income of $981M in the quarter was up $63M, or 7%, from the prior year. Total loans ended the quarter at $67.3B, up 7.4% compared to the prior year. Credit card loans ended the quarter at $53.7B, up 6.6% from the prior year. Personal loans increased $835M, or 20.9%, from the prior year and private student loans increased $369M, or 4.5%, from the prior year. Excluding purchased student loans, private student loans grew $884 million, or 23.1%, from the prior year. Revenue net of interest expense increased $129M, up 7% from the prior year due to loan growth and net interest margin expansion.
16:06 EDTDFSDiscover reports Q3 EPS $1.37, consensus $1.34
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15:30 EDTDFSNotable companies reporting after market close
Notable companies reporting after the market close, with earnings consensus, include Yahoo! (YHOO), consensus 30c; ACE (ACE), consensus $2.34; Discover Financial (DFS), consensus $1.34; Pinnacle Financial (PNFP), consensus 51c; Broadcom (BRCM), consensus 84c; Intuitive Surgical (ISRG), consensus $3.80; FMC Technologies (FTI), consensus 74c; Robert Half International (RHI), consensus 58c; E-Trade (ETFC), consensus 22c; Nabors Industries (NBR), consensus 36c; Waste Connections (WCN), consensus 54c; Cubist Pharmaceuticals (CBST), consensus 4c; Sonic (SONC), consensus 34c; American Campus Communities (ACC), consensus 43c; Cree (CREE), consensus 36c; Fulton Financial (FULT), consensus 20c; Costamare (CMRE), consensus 41c; Hawaiian Holdings (HA), consensus 78c; Ethan Allen (ETH), consensus 36c; Sabra Health (SBRA), consensus 55c; Rush Enterprises (RUSHA), consensus 51c.
08:31 EDTJPMEU fines JPMorgan, UBS, Credit Suisse for cartel on derivatives
The European Commission has found that four international banks, RBS (RBS), UBS (UBS), JP Morgan (JPM) and Credit Suisse (CS), operated a cartel on bid-ask spreads of Swiss franc interest rate derivatives in the European Economic Area. The Commission imposed fines worth a total of EUR 32.36M. RBS received immunity from fines for revealing the existence of the cartel to the Commission. UBS and JPMorgan received reductions of their respective fines for cooperating with the investigation under the Commission's 2006 Leniency Notice. UBS was fined EUR 12.65M, JP Morgan fined EUR 10.53M and Credit Suisse was fined EUR 9.17M.
08:28 EDTJPMEuropean Commission fines JMorgan EUR 61.68M over Libor influencing
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08:18 EDTGS, JPM, BACBasel Committee accelerating work on leverage ratio, FT says
The Basel Committee on Banking Supervision will begin work on the calibration of the leverage ratio, a measure of bank capital seen as less vulnerable to manipulation, sooner than previously planned, which suggests the finished rule could be released as soon as 2015 or 2016, which is ahead of the previous target date of 2017, reported Financial Times, citing comments from the secretary-general of the committee, William Coen. Publicly traded large U.S. banks include Bank of America (BAC), Citigroup (C), Goldman Sachs (GS), JPMorgan (JPM), Morgan Stanley (MS), U.S. Bancorp (USB) and Wells Fargo (WFC). Publicly traded large EU banks include Banco Santander (SAN), Barclays (BCS), Credit Suisse (CS), Deutsche Bank (DB), HSBC (HSBC), ING Groep (ING), Lloyds Banking (LYG), Royal Bank of Scotland (RBS) and UBS (UBS). Reference Link
08:12 EDTJPMJPMorgan, UBS, Credit Suisse to be fined by EU over Libor rigging, Reuters says
JPMorgan (JPM), UBS (UBS) and Credit Suisse (CS) will be fined $115M collectively for their roles in rigging Swiss franc Libor rates, with JPMorgan's fine of $89M making up the lion's share of the penalty, said Reuters, citing a person familiar, who added that Royal Bank of Scotland (RBS) would not be penalized for its own role since it alerted the European Commission to the issue. Reference Link
07:33 EDTGLDDGreat Lakes Dredge JV announces sale of NYSS to Eastern Concrete Materials
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06:32 EDTGLDDU.S. Concrete subsidiary acquires New York and Stone from Amboy Aggregates
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06:17 EDTBBTBB&T management to meet with Jefferies
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October 20, 2014
09:31 EDTJPMRobinhood.org to hold conference
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08:10 EDTGLDDGreat Lakes Dredge signs $540M contract for Suez Canal project
Great Lakes Dredge announced that the chairman of the Suez Canal Authority, Mohab Mohamed Hussein Mamish, in the presence of the Prime Minister of Egypt, Ibrahim Mahlab, signed a contract with the Consortium consisting of Great Lakes and Dredging International NV for Lot 6 of the widening and deepening of the Suez Canal. The contract is valued at $540M and is part of a larger project to expand global trade and strengthen the economy in Egypt. The contract awarded to the Consortium involves the widening and deepening to negative 79 feet of the western branch of the Suez Canal at Great Bitter Lake, Deversoir Reach and Kabret Reach, which is a 25 kilometer stretch of the canal. Dredging International will mobilize four cutter suction dredges and two hopper dredges and auxiliary equipment while Great Lakes will mobilize its Middle East-based heavy duty, high production cutter suction dredges, the ‘Carolina’ and the ‘Ohio,’ pipelines and auxiliary support equipment. The vessels will mobilize to Egypt in November and commence dredging operations before year-end. The Consortium’s scope of work is expected to be completed by the end of 3Q15.
07:21 EDTJPMFederal Reserve Bank of New York and Boston to hold a workshop
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October 19, 2014
16:10 EDTGSGoldman reluctant to join U.K.'s BSRC, WSJ says
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October 17, 2014
16:55 EDTBAC, JPM, GSStocks end volatile week lower amid oil price plunge
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10:43 EDTAROUrban Outfitters slumps after warning on continued retail sales weakness
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10:00 EDTGSOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: AK Steel (AKS) upgraded to Buy from Neutral at Nomura... AMD (AMD) upgraded to Sector Perform from Underperform at Pacific Crest... Atlantic Power (AT) upgraded to Market Perform from Underperform at BMO Capital... Basic Energy (BAS) upgraded to Outperform from Market Perform at Cowen... BorgWarner (BWA) upgraded to Buy from Hold at Deutsche Bank... CA Technologies (CA) upgraded to Overweight from Equal Weight at Barclays... Calumet Specialty Products (CLMT) upgraded to Outperform at Wells Fargo... DHT Holdings (DHT) upgraded to Buy from Hold at Evercore... Exelon (EXC) upgraded to Neutral from Sell at Citigroup... Fifth Third Bancorp (FITB) upgraded to Buy from Neutral at Citigroup... Goldman Sachs (GS) upgraded to Outperform from Market Perform at Keefe Bruyette... Helmerich & Payne (HP) upgraded to Buy from Neutral at UBS... Hilton (HLT) upgraded to Buy from Neutral at SunTrust... Hyatt Hotels (H) upgraded to Outperform from Neutral at Macquarie... IPG Photonics (IPGP) upgraded at Stifel... ITC Holdings (ITC) upgraded to Neutral from Underperform at Credit Suisse... Manpower (MAN) upgraded to Outperform from Market Perform at Avondale... Nabors Industries (NBR) upgraded to Outperform from Market Perform at Cowen... Newpark Resources (NR) upgraded at Cowen... Old Dominion (ODFL) upgraded to Buy from Neutral at Longbow... PDC Energy (PDCE) upgraded at SunTrust... Patterson-UTI (PTEN) upgraded to Buy from Neutral at UBS... PrivateBancorp (PVTB) upgraded to Outperform from Neutral at Macquarie... QLogic (QLGC) upgraded to Buy from Hold at Summit Research... RPC, Inc. (RES) upgraded at Cowen... Sonoco (SON) upgraded to Neutral from Underperform at DA Davidson... Southwestern Energy (SWN) upgraded to Outperform from Market Perform at Raymond James... SunEdison (SUNE) upgraded to Outperform at Cowen... TSMC (TSM) upgraded to Buy from Neutral at Mizuho... Tesco (TESO) upgraded to Outperform from Market Perform at Cowen... UnitedHealth (UNH) upgraded to Outperform from Market Perform at Leerink... Xilinx (XLNX) upgraded to Outperform from Market Perform at Wells Fargo.
09:06 EDTJPMJPMorgan and PNC Financial weakness a buying opportunity, say Morgan Stanley
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07:00 EDTJPMJPMorgan in talks to build corporate campus in Manhattan, NY Times reports
JPMorgan Chase (JPM) is in negotiations with New York state and city officials over a potential $6.5B deal that would result in the construction of a corporate campus with two high rises on the West Side of Manhattan, the Wall Street Journal reports. Reference Link
05:35 EDTGSGoldman Sachs upgraded to Outperform from Market Perform at Keefe Bruyette
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