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Stock Market & Financial Investment News

News For BAC;OCN;WIC;NSM From The Last 14 Days
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October 21, 2014
13:45 EDTOCNOcwen Financial addresses letter from New York DFS
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13:26 EDTOCNOcwen Financial trading halted, pending news
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12:59 EDTOCNSterne says Ocwen likely addressed backdating issue
Sterne Agee says the backdating issue brought up in Benjamin Lawsky's letter has likely been addressed by Ocwen Financial and that the company may be in compliance with the CFPB's guidelines. The firm has a Neutral rating on Ocwen after downgrading the stock on August 1.
12:15 EDTOCN, NSMOcwen falls after accused of backdating letters by NY regulator
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12:03 EDTOCNOcwen Financial sent letter by NYDFS head Lawsky over backdating
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08:18 EDTBACBasel 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
October 17, 2014
16:55 EDTBACStocks end volatile week lower amid oil price plunge
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October 16, 2014
14:09 EDTBACApple confirms October 20 start date for Apple Pay
Apple (AAPL) announced that customers can start making payments on Monday, October 20, when Apple Pay becomes available in the U.S. Users of the iPad Air 2 and iPad mini 3 will be able to use Touch ID on their devices for Apple Pay within apps. The new service will be enabled by a free software update to iOS 8. Apple Pay supports credit and debit cards from the three major payment networks: American Express (AXP), MasterCard (MA) and Visa (V). In addition to American Express, Bank of America (BAC), Capital One Bank (COF), Chase (JPM), Citi (C), Wells Fargo (WFC) and others, who announced support in September, more than 500 new banks from across the country have signed on to Apple Pay, the company said.
10:01 EDTBACOn The Fly: Analyst Upgrade Summary
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08:27 EDTBACBank of America weakness overdone, buy shares, says Morgan Stanley
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08:23 EDTBACBofA CEO steps point to extended stay in post, Reuters reports
Bank of America Chairman and CEO Brian Moynihan has taken more control over the bank's retail business, has shifted executives into new positions and his sway with directors has increased since he recently became chairman, all of which signal that he plans to remain at the bank for "a minimum of five years," according to Reuters, citing sources familiar with the matter. Reference Link
07:44 EDTBACBank of America quarterly results trumped by market sell-off, says UBS
UBS believes Bank of America posted better than expected earnings with core expenses declining, but that the results were overshadowed by the market sell-off. The firm saw improved expense management and believes the company's changes to its portfolio will eventually be impacted by short term interest rates. UBS reiterates its Buy rating and $20 price target on Bank of America.
05:57 EDTBACBank of America upgraded to Outperform from Market Perform at FBR Capital
FBR Capital upgraded Bank of America to Outperform with a $20 price target citing book value growth following the company's Q3 results. Shares closed yesterday down 28c to $15.48.
October 15, 2014
12:36 EDTBACOn The Fly: Midday Wrap
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09:47 EDTBACBank of America reports September default rate 2.93% vs. 3.33% last month
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09:37 EDTBACBank of America downgraded to Underperform from Sector Perform at Portales
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08:54 EDTBACBank of America says largely done with debt footprint reduction
Comment from Q3 earnings conference call.
08:17 EDTBACBofA says $2B quarterly 'New BAC' cost savings target reached in Q3
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07:11 EDTBACBofA Q3 results include $5.3B, or 43c per share, charge for DOJ settlement
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07:08 EDTBACBank of America reports Q3 net charge-offs $1.04B
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