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Stock Market & Financial Investment News

News Breaks
April 17, 2014
06:44 EDTJPM, BACBank of America to pay $950M to settle mortgage allegations, NY Times says
Bank of America (BAC) yesterday agreed to pay $950M to settle allegations that home loans packaged into bonds by Countrywide were defective, The New York Times reported last night. The payment amounts to 14% of the losses generated by the bonds sold by Bank of America, according to the newspaper, which cited an unnamed source affiliated with one of the plaintiffs. Some have speculated that JPMorgan's (JPM) $13B settlement of a similar case represented 6% of the losses generated by its bonds, the newspaper noted. Reference Link
News For BAC;JPM From The Last 14 Days
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December 11, 2014
07:20 EDTJPM, JPMJPMorgan upgraded to Outperform from Underperform at CLSA
CLSA upgrade JPMorgan to Outperform from Underperform. The analyst expects JPMorgan to benefit from progress in revenue efficiency, operating leverage and structurally lower credit costs. Additionally, CLSA believes the sum-of-the-parts valuation discount provides the possibility of a breakup or restructuring if the company does not succeed. Price target raised to $70 from $60.
December 10, 2014
16:00 EDTBACOptions Update; December 10, 2014
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14:18 EDTJPMJPMorgan leads banks lower, levels to watch
The shares are down over 2.5% to $60.94. At that price next major support is at $59.83, the last price for the 50-day moving average. Resistance is at $61.31.
12:24 EDTJPM, BACOn The Fly: Midday Wrap
Stocks on Wall Street opened in negative territory and have remained there throughout the morning. The averages have moved in a narrow range as the price of crude continues to fall. Near noon, WTI crude was down another 5% to roughly $60 per barrel. The weakness is effecting equities, as investors are concerned the oil price weakness is indicative of the slowing global economy. ECONOMIC EVENTS: In the U.S., House and Senate lawmakers reportedly reached a deal on a nearly $1.1T bill to fund most of the government through September and avert a shutdown. The EIA estimated crude oil supplies grew 1.5 Mmbbls last week, while consensus expected a 2.7 Mmbbls decrease. The Treasury budget statement for November is expected at 2:00 pm ET, with the consensus expectation for a deficit of $63B. COMPANY NEWS: Shares of JPMorgan (JPM) declined 2% after guidelines proposed yesterday by the Federal Reserve would likely result in the firm managing to a higher capital buffer. Additionally, JPMorgan CFO Marianne Lake, speaking earlier at a Goldman Sachs conference, said the bank sees its Q4 reported markets revenues down by a "high teens" percentage and that its "core" markets performance in Q4, excluding the sale of physical commodities and allocation of preferred dividend expense, is indicated down 4% to-date compared to last year's quarter. Lake became the latest bank executive to discuss a Q4 trading slump, after Bank of America (BAC) CEO Brian Moynihan, speaking yesterday at the same financial conference, said the bank expects its Q4 trading revenue to be down on both a linked-quarter and year-over-year basis. Also yesterday, Citigroup (C) CEO Michael Corbat estimated that the bank's Q4 markets revenue would be down year-over-year by about 5%. MAJOR MOVERS: Among the notable gainers was Analogic (ALOG), which rose 12% after the company reported better than expected quarterly earnings. Also higher was Novadaq (NVDQ), which gained 11.5% after the company signed a multi-year distributor agreement with LifeNet Health that analysts at Canaccord said could potentially be a big deal and materially help its near and long-term prospects. Among the noteworthy losers was Yum! Brands (YUM), which dropped nearly 5% after the owner of the KFC, Pizza Hut and Taco Bell brands issued a negative preannouncement on its China business and provided lower than expected 2015 EPS guidance. Also lower were shares of Krispy Kreme (KKD), which sunk 8% after the donut maker reported weaker than expected earnings and revenue. INDEXES: Near midday, the Dow was down 164.41, or 0.92%, to 17,636.79, the Nasdaq was down 32.79, or 0.69%, to 4,733.68, and the S&P 500 was down 17.43, or 0.85%, to 2,042.39.
11:03 EDTBAC, JPMJPMorgan drops 2% after CFO talks down Q4 numbers
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06:17 EDTJPMJPMorgan faces $22B capital hole under new Fed rules, Financial Times says
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December 9, 2014
16:00 EDTBACOptions Update; December 9, 2014
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14:57 EDTBAC, JPMFed to propose rulemaking on risk-based capital surcharges for GSIB banks
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14:42 EDTBAC, JPMFed sees setting capital surcharge up to 4.5% for big U.S. banks, Bloomberg says
Bloomberg cites surcharge estimates in Federal Reserve staff memo. Publicly traded companies in the space include Bank of America (BAC), Citigroup (C), Goldman Sachs (GS), JPMorgan (JPM), Morgan Stanley (MS), U.S. Bancorp (USB) and Wells Fargo (WFC).
09:38 EDTBACActive 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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December 8, 2014
16:00 EDTBACOptions Update; December 8, 2014
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06:35 EDTJPM, BACValue 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 EDTJPMDeadline for Petsmart bidders extended as lenders put on leash, NY Post reports
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December 5, 2014
11:23 EDTBACOption volume leaders
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10:35 EDTJPMJPMorgan hits fresh 52-week high, levels to watch
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10:10 EDTJPMJPMorgan CEO Jamie Dimon seeing no evidence of cancer after treatment, CNBC says
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09:36 EDTBACActive equity options trading
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December 4, 2014
07:16 EDTBACConsumer Federation of America to hold a conference
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06:02 EDTBACStocks with implied volatility movement; BAC AMZN
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