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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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October 8, 2014
08:06 EDTCAstoria Financial appoints Hugh J. Donlon as Chief Lending Officer
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07:20 EDTWFCCapital Link to hold a forum
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07:19 EDTRHHBYCBI to hold a conference
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07:13 EDTBAC, C, JPM, WFCBank dealers agree to revised derivatives rules, FT reports
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06:56 EDTWFC, JPMBarclays lists several Large-Cap banks with the most Q3 upside
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06:28 EDTSTIM&T Bank, SunTrust may miss Q3 expectations, says Citigroup
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06:02 EDTSCTYSolarCity adds financing option in move to expand
SolarCity introduced MyPower today, a solar financing option that combines the low upfront cost and immediate utility savings of a power purchase agreement with the benefits of ownership. SolarCity customers pay for their MyPower solar loan similar to the way they pay for a solar PPAóbased on the energy the system produces from the sunóbut they retain ownership of the solar panels. MyPower's unique structure creates America's most affordable solar loanówith a lower cost than PPAs in many locations. MyPower can allow customers to pay as much as 40% less for solar power than utility power, and unlike other loans, MyPower allows customers to prepay their entire balance or prepay a portion of their solar loan to lower their monthly payments at any time, with no fees or penalties. Starting today, SolarCity will offer MyPower to customers in Arizona, California, Colorado, Connecticut, Hawaii, Massachusetts, New York and New Jersey, and ultimately plans to expand the product beyond its existing service territory.
October 7, 2014
11:35 EDTJPMStocks with call strike movement; JPM QCOM
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10:02 EDTSTIOn The Fly: Analyst Initiation Summary
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10:02 EDTUSBOn The Fly: Analyst Downgrade Summary
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09:36 EDTBACActive equity options trading on open
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09:17 EDTJPMSecurities Industry & Financial Markets Association to hold a conference
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08:28 EDTCCitigroup October volatility increases into Q3 and revenue outlook
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07:58 EDTSTISunTrust initiated with a Market Perform at Bernstein
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07:29 EDTJPMJPMorgan Chase volatility increases into Q3 and guidance
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07:28 EDTBAC, JPM, CWells Fargo ups price target ranges for capital markets banks
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07:06 EDTUSBU.S. Bancorp downgraded to Market Perform from Strong Buy at Raymond James
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06:51 EDTBAC, JPM, WFC, USB, CJustice Department set to attack more large banks by year end, NY Times says
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06:49 EDTBAC, C, JPMBNP seeks assistance from banks as ban approaches, Reuters says
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06:36 EDTMETRegulators to review 'systemically important' label process, WSJ reports
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