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Stock Market & Financial Investment News

News Breaks
January 7, 2013
16:26 EDTBAC, ILMN, ESI, SCTY, VVUS, USB, STI, PNC, MET, WFC, JPM, C, WAC, NSM, RHHBYOn The Fly: Closing Wrap
Stocks on Wall Street pulled back from the highs reached on Friday, when the week long rally fueled by the deal to avert part of the fiscal cliff drove the S&P 500 to its best level in five years. Banking news dominated today's headlines with multiple settlements announced related to the mortgage markets... ECONOMIC EVENTS: In the U.S. no market moving economic data was reported... COMPANY NEWS: Bank of America (BAC) confirmed deals to sell the servicing rights on about 2M residential mortgages with unpaid principal balances of approximately $306B to Nationstar Mortgage Holdings (NSM) and Walter Investment (WAC). Shares of Nationstar rose $5.60, or 16.85%, to $38.83 and those of Walter Investment advanced $3.63, or 8.24%, to $47.68, while BofA shares slid 2c, or 0.17%, to $12.09... Bank of America also announced it will repurchase $6.75B worth of residential mortgage loans it sold to Fannie Mae and will pay $3.6B to settle claims related to certain loans. Separately from BofA's settlement with Fannie Mae, the Federal Reserve and the Office of the Comptroller of the Currency announced a deal that will see ten mortgage servicing companies pay more than $8.5B in cash payments and other assistance to mortgage borrowers to settle claims related to loan servicing and foreclosure processing. The regulators listed Bank of America, Citibank (C), JPMorgan Chase (JPM), MetLife Bank (MET), PNC (PNC), SunTrust (STI), U.S. Bank (USB) and Wells Fargo (WFC) among those participating... In other banking news, the Basel Committee on Banking Supervision made it easier for banks to meet the new "liquidity coverage ratio" rule and delayed its full implementation until 2019... MAJOR MOVERS: Among the notable gainers was VIVUS (VVUS), up $1.12, or 8.15%, to $14.87, after the company reported Qsymia prescription information and was added to the U.S. 1 List at Merrill Lynch. Also higher were shares of SolarCity (SCTY), up $1.57, or 10.90%, to $15.97 after a number of research firms initiated coverage on the stock with Buy ratings. Among the noteworthy losers was ITT Educational (ESI), down $3.72, or 19.28%, to $15.57 after reporting that it has entered into a settlement agreement and release with Sallie Mae that will impact Q4 EPS by 56c. Also lower were shares of Illumina (ILMN), which dropped $3.86, or 7.06%, to $50.90 following comments over the weekend from Roche's (RHHBY) chairman indicating his company was no longer interested in acquiring Illumina... INDICES: The Dow was down 50.92, or 0.38%, to 13,384.29; the Nasdaq was down 2.85, or 0.09%, to 3,098.81; and the S&P 500 was down 4.58, or 0.31%, to 1,461.89.
News For BAC;NSM;WAC;C;JPM;WFC;MET;PNC;STI;USB;VVUS;SCTY;ESI;ILMN;RHHBY From The Last 14 Days
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August 11, 2014
14:58 EDTJPMJPMorgan to sell about half of One Equity Partners pe unit, DJ says
JPMorgan plans to sell about $2B in portfolio companies of One Equity and retain ownership of roughly half of portfolio companies, said Dow Jones, citing sources.
09:36 EDTCActive equity options trading on open
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07:08 EDTWACWalter Investment sees FY14 adjusted EPS $5.25-$6.25, consensus $5.23
Sees FY14 adjusted EBITDA $650M-$725M.
07:07 EDTWACWalter Investment: Improving economy, low interest rate provides improvement
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07:06 EDTWACWalter Investment reports Q2 adjusted EPS $1.19, consensus $1.22
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06:58 EDTCUBS to hold a conference
UBS Financials 1:1 Conference to be held in Chicago on August 11.
06:43 EDTCCitigroup, Mercuria Energy battle in court over metals payments, WSJ says
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05:53 EDTRHHBYCuris shares look attractive, says Piper Jaffray
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August 8, 2014
16:02 EDTWACWalter Investment COO Keith Anderson retires
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16:00 EDTSCTY, COptions Update; August 8, 2014
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12:38 EDTJPMSEC probing JPMorgan over potential conflicts of interest, WSJ says
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11:33 EDTRHHBYRoche submits supplemental Biologics License application to FDA for Lucentis
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10:36 EDTESIOptions with increasing implied volatility
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09:37 EDTBAC, SCTYActive equity options trading on open
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09:26 EDTSCTYSolarCity mentioned cautiously by TheStreet's Herb Greenberg
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09:15 EDTSCTYOn The Fly: Pre-market Movers
HIGHER: NVIDIA (NVDA), up 4.2%, upgraded at Needham following its better than expected Q2 results... Arista Networks (ANET), up 8%, upgraded at Citigroup following better than expected Q2 results, announcing an expanded strategic relationship with VMware (VMW)... Tekmira Pharmaceuticals (TKMR), up 17.5% after announcing that the FDA verbally confirmed they have modified the full clinical hold placed on its TKM-Ebola treatment to a partial clinical hold... Gap (GPS), up 4.7% after July same-store sales rose 2%, company issues Q2 EPS outlook above the consensus estimate... lululemon (LULU), up 2.4% after founder agrees to sell half his stake to Advent for $845M. UP AFTER EARNINGS: SolarCity (SCTY), up 1%... Assured Guaranty (AGO), up 9%... MercadoLibre (MELI), up 13.6%. LOWER: Zynga (ZNGA), down 6% after lowering fiscal 2014 guidance... McDonald's (MCD), down 0.4% after Chinese supplier issue contributes to July comparable sales drop of 2.5%.
08:21 EDTSCTYOptions expected to be active
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07:23 EDTJPMLevin probe of Goldman, JPMorgan commodity trading nears end, Reuters says
Senator Carl Levin's investigators have met with representatives from Goldman Sachs (GS) and JPMorgan (JPM) in recent weeks as his office wraps up its probe of the bank's commodity trading businesses, which could potentially reveal abuses in energy and metals markets, according to Reuters, citing sources familiar with the matter. Executives from the banks may appear at a hearing as early as September, the report added. Reference Link
07:18 EDTWFC, C, USB, BAC, JPMRegulators direct banks to steer mortgage aid to hard-hit areas, FT says
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06:30 EDTJPM, CCitigroup, Accenture employ tech workers in Argentina, Bloomberg says
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