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Stock Market & Financial Investment News

News Breaks
June 12, 2013
06:04 EDTBAC, JPM, MS, EL, AVP, RDENCoty to price its IPO later today, WSJ reports
Beauty products conglomerate Coty Inc. will price its initial public offering late today, marking its long-awaited market debut following delays last year, reports the Wall Street Journal. The deal could raise up to $1.22B, including the possible sale of extra shares to underwriters. That would make it the largest U.S.-listed IPO ever for a consumer products company, according to Dealogic. Reference Link
News For BAC;JPM;MS;EL;AVP;RDEN From The Last 14 Days
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August 21, 2014
09:09 EDTBACBofA to pay $9.65B in cash, $7B worth of consumer relief in settlement
Borrower relief will be in the form of mortgage modifications, including first-lien principal and forbearance forgiveness and second-lien extinguishments, low- to moderate-income mortgage originations, and community reinvestment and neighborhood stabilization efforts, with initiatives focused on communities experiencing, or at risk of, urban blight. This includes lien releases, uninhabitable and abandoned property demolition, and remediation and property donations. Also, Bank of America will support the expansion of available affordable rental housing. Bank of America has committed to complete delivery of the relief by no later than August 31, 2018. The consumer relief will be subject to oversight by an independent monitor.
09:07 EDTBACBofA to pay $16.65B in settlement with DOJ, state AGs
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09:03 EDTBACBank of America to pay $16.65B in settlement with DOJ, Bloomberg reports
08:41 EDTBACBank of America, DOJ settlement to be announced today, CNBC reports
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08:31 EDTJPM, MSMorgan Stanley, JP Morgan selected by Shake Shack to lead IPO, Reuters says
JP Morgan (JPM) and Morgan Stanley (MS) have been picked by Shake Shack to lead the fast-food restaurant chain's IPO, sources tell Reuters. The offering could come as early as this year. Reference Link
06:43 EDTMS, JPM, BACRegulators up bank warning efforts for poor risk assessment, Reuters says
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August 20, 2014
18:29 EDTJPM, BAC, MSBofA, JPMorgan weigh plans to raise salaries for junior bankers, Bloomberg says
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17:12 EDTBACOn The Fly: Closing Wrap
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14:35 EDTBACBofA reaches $17B settlement over mortgage backed securities sales, AP says
Bank of America along with federal and state authorities agreed upon a $17B settlement for the bank in connection with the sale of mortgage-backed securities in the run-up to the 2008 financial crisis, says AP. Reference Link
14:20 EDTBACBofA reaches $17B settlement over mortgage backed securities sales, AP says
08:38 EDTBACRevolution Lighting enters loan, security agreement with BofA
Revolution Lighting (RVLT) announced that it has entered into a three year loan and security agreement with Bank of America (BAC). The agreement allows Revolution Lighting to borrow up to $25M on a revolving basis. Borrowings under the agreement are determined on specified percentages of eligible receivables and inventory, and bear interest either on the base rate plus specified margins or at LIBOR plus specified margins, at the election of Revolution Lighting. The loan provides Revolution Lighting with favorable interest rates with an initial interest rate of 3%. The agreement contains customary covenants and restrictions typical of these agreements.
August 19, 2014
13:16 EDTRDENFollow-up: Elizabeth Arden downgraded at SunTrust
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13:01 EDTRDENElizabeth Arden downgraded to Neutral from Buy at SunTrust
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12:42 EDTRDENOn The Fly: Midday Wrap
The market opened higher as it extended its gains from yesterday. Better than expected economic data on housing and consumer prices, as well as easing geopolitical tensions, has helped aid investor optimism. The market drifted higher throughout the morning with the Dow leading the way, followed by the Nasdaq, which is now near fourteen-year highs. The S&P is mostly higher, with the telecom services group being the lone sector showing losses, down just fractionally. ECONOMIC EVENTS: Housing starts for July rose to an annualized pace of 1.093M units, up from 0.945M units in June, and beating expectations for 0.963M units... The Consumer Price Index increased 0.1% overall, matching expectations. Less food and energy, the CPI was up 0.1%, which was also in-line with the consensus forecast. COMPANY NEWS: Shares of home improvement retailer The Home Depot (HD) are up more than 6% after the company posted better than expected second quarter results and raised its full year profit outlook... Shares of Sprint (S) are down 4% after Jefferies lowered its price target for Sprint shares to $4, saying it continues to see downside to estimates. MAJOR MOVERS: Shares of Skilled Healthcare (SKH) are up more than 20% after combining with Genesis HealthCare In 100% stock deal... Shares of cosmetics and fragrance company Elizabeth Arden (RDEN) are down 24% after the company's fourth quarter results came in well below analysts' consensus estimates. INDEXES: Near midday, the Dow was up 76.92, or 0.46%, to 16,915.66, the Nasdaq was up 12.96, or 0.29%, to 4,521.27, and the S&P 500 was up 8.49, or 0.43%, to 1,980.23.
10:39 EDTRDENElizabeth Arden tumbles 24% after Q4 earnings analysts' estimates
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09:07 EDTRDENOn The Fly: Pre-market Movers
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07:17 EDTRDENElizabeth Arden says Rhone entered into standstill agreement
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07:16 EDTRDENElizabeth Arden reports Q4 adj. EPS ($1.04), may not compare to consensus (34c)
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07:16 EDTRDENElizabeth Arden: 1Q15 will be challenged by factors affecting recent quarters
Fiscal 2015 will be focused on stabilizing the business and will be the first year of a multi-year plan to rebuild profitability. The Company expects a modest improvement in adjusted earnings for fiscal 2015 over the prior year with continued improvement in fiscal 2016. Specifically, for fiscal 2015, the Company currently expects the following: The first quarter of fiscal 2015 will continue to be challenged by the same factors that affected recent quarters; Net sales headwinds to continue for the first half of fiscal 2015, resulting primarily from a lower level of product innovation as compared to the first half of the prior fiscal year; Net sales increases in the second half of the fiscal year versus the prior year period as the year-over-year product launch comparisons moderate and the Company begins to realize the impact of improved pricing; Gross margin expansion due to improved pricing, better mix, lower discounts and realization of reduced supply chain and product costs; Lower overall selling, general and administrative expenses, with some reinvestment of 2014 Improvement Plan savings to drive future growth; Improved EBITDA margins from gross margin expansion and lower selling, general and administrative expenses; Stronger cash flow from operations as a result of higher earnings and lower investment in inventory.
06:20 EDTBACBofA COO transfers, senior manager assumes role, Bloomberg says
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