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News For BAC;OCN;WIC;NSM From The Last 14 Days Check below for free stories on BAC;OCN;WIC;NSM the last two weeks. |
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| May 17, 2013 |
| 16:00 EDT |  | BAC | Options Update; May 17, 2013
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| 10:20 EDT |  | BAC | Bank of America rises, levels to watch
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| May 16, 2013 |
| 07:18 EDT |  | BAC | Investors bet on banks hit by credit crisis, Bloomberg reports
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| 06:41 EDT | | BAC | Big banks to benefit from U.S. concession on derivatives, NY Times says
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| May 15, 2013 |
| 10:13 EDT |  | BAC | Bank of America reports April card write-offs 4.55% vs. 4.33% last month
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| May 14, 2013 |
| 10:53 EDT | | BAC | Bank of America breakout continues, levels to watch
The breakout back above what was persistent resistance at the $12.50 area has now taken on a firmer bullish footing. Shares are trading at multi-year highs, last at $13.25. At that price, resistance is now at $13.56 and then at $13.84. Support is at $13.01. |
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| 08:44 EDT |  | BAC | Bank of America management to meet with Deutsche Bank
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| 08:33 EDT | | BAC | CFTC investigates swap contracts, FT reports
The Commodity Futures Trading Commission issued a “special call” asking Wall Street banks and other traders to provide documents that would prove recent derivatives transactions known as “exchanges of futures for swaps” were legal. Lawyers at the CFTC enforcement division are also scrutinizing the trades for possible violations. The probe is into the legitimacy of more than 1M energy and metals transactions by the biggest traders in commodities markets over the past two years.Reference Link |
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| 06:19 EDT | | BAC | Brokerage firms see market share drop, competition increase, Bloomberg reports
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| May 13, 2013 |
| 15:04 EDT | | BAC | Fed says large banks must submit midyear stress tests on July 5
Eighteen large U.S. bank holding companies are required to submit the results of their company-run, midyear stress tests to the Federal Reserve on July 5, the Federal Reserve said. The Dodd-Frank Wall Street Reform and Consumer Protection Act required that large bank holding companies and non-bank financial institutions that are designated for Federal Reserve supervision by the Financial Stability Oversight Council conduct two stress tests each year. In the midyear test, which is being conducted for the first time in 2013, each firm develops its own baseline, adverse, and severely adverse scenarios to best reflect its individual operations and risks. Each firm in the midyear test is required to release the results produced under its severely adverse scenario, helping promote market discipline and understanding of the financial conditions and risks of individual firms, between September 15 and September 30, the Fed added. |
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| May 10, 2013 |
| 07:33 EDT | | BAC | New York's case against BofA, Merrill may be dropped, Reuters reports
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| 05:30 EDT | | BAC | KeyBank to acquire Bank of America CMBS servicing portfolio, Berkadia CMBS business
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| May 9, 2013 |
| 14:30 EDT | | BAC | Options Update; May 9, 2013
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| 12:13 EDT | | OCN | Leon Cooperman names Ocwen Financial as stock pick on CNBC
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| 08:09 EDT | | BAC | JPMorgan, Bank of America had perfect trading records in Q1, Bloomberg reports
JPMorgan Chase (JPM) and Bank of America (BAC) had perfect trading records in the first quarter, making money every day of the period as Morgan Stanley (MS) posted losses in eight sessions and Goldman Sachs (GS) in two, reports Bloomberg. One daily gain at JPMorgan was over $200M as the bank recovered from last year’s London Whale derivatives loss, the company said in a regulatory filing. Reference Link |
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| 07:55 EDT |  | OCN | Ocwen Financial files automatic convertible preferred shelf for up to $162M
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| 05:43 EDT | | BAC | Big banks take the offense against Washington, WSJ reports
The biggest U.S. banks are going on the offensive to fight off growing efforts in Washington to rein them in, reports the Wall Street Journal. They've hired longtime, influential Washington insiders to deflect regulatory and political pressure to strengthen their finances and to sell assets. Reference Link |
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| May 8, 2013 |
| 16:00 EDT | | BAC | Options Update; May 8, 2013
CBOE Volatility Index VIX down 17c to 12.66. Option volume leaders: BAC GOOG C AAPL DIS X XOM according to Track Data. |
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| 15:22 EDT | | OCN | Ocwen Financial shares up 2.4% after Eisman discusses company at Sohn
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| 15:21 EDT | | OCN | Eisman says Ocwen Financial "most levered way" to play housing at Sohn
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| May 7, 2013 |
| 16:01 EDT | | BAC | Options Update; May 7, 2013
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| 13:01 EDT | | BAC | AIG can sue BofA over mortgages, judge says, WSJ reports
A federal judge has ruled that American International Group (AIG) has the right to sue Bank of America (BAC) over more than $7B of mortgage-investment losses, reports the Wall Street Journal. U.S. District Judge Mariana Pfaelzer said that AIG did not give up its right to pursue certain legal claims when it unloaded the investments as part of its 2008 bailout. Reference Link |
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| 11:26 EDT | | BAC | MBIA rally continues after Bank of America settlement
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| 10:20 EDT | | BAC | Banks accused of restraining swaps market competition, Bloomberg says
A sheet metal workers union in Cleveland claimed in federal court that Goldman Sachs Group (GS), Citigroup (C) and 10 other banks have restrained market competition" for credit default swaps, violating U.S antitrust law, says Bloomberg. Other banks named in the complaint include Bank of America (BAC), Deutsche Bank (DB), and UBS (UBS), added Bloomberg. Reference Link |
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| 09:38 EDT | | BAC | Active equity option families trading
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| 09:17 EDT | | BAC, NSM | On The Fly: Pre-market Movers
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| 09:00 EDT | | NSM | Nationstar rises 6.7%
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| 07:49 EDT |  | NSM | Nationstar raises FY14 EPS view to $6.45-$7.50, consensus $6.11
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| 07:48 EDT | | NSM | Nationstar raises FY13 EPS view to $4.05-$4.75, consensus $4.14
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| 07:46 EDT | | NSM | Nationstar acquires mortgage origination business of Greenlight Financial
Nationstar entered into a definitive agreement to acquire the mortgage origination business of Greenlight Financial Services for up to $75M in cash in May, the company announced. The acquisition price represents a 1.2x and 0.7x multiple, respectively, on Greenlight’s estimated full year 2013 net income and 2013 AEBITDA. The acquisition is expected to close in the second quarter and to be immediately accretive. Greenlight utilizes a high-volume, rapid turn time funding model and the acquisition will further diversify Nationstar’s origination channels and add a low-cost, profitable source for servicing asset creation, while also providing additional capacity for HARP and recapture loans. Nationstar expects Greenlight to originate in excess of $8B annually. |
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| 07:44 EDT | | NSM | Nationstar reports Q1 pro forma EPS 85c, consensus 73c
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| 05:50 EDT | | BAC | Mortgage lenders ease standards for 'prime' borrowers, WSJ reports
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| 05:37 EDT |  | OCN | Ocwen Financial initiated with an Outperform at Wells Fargo
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| May 6, 2013 |
| 16:39 EDT |  | BAC | On The Fly: Closing Wrap
The Wall Street averages were mixed as a light news flow and light volume did little to catalyze a further advance. Still, with its positive close, the S&P 500 managed to set a new all-time closing high. ECONOMIC EVENTS: In the U.S., no major economic data was reported. COMPANY NEWS: Bank of America (BAC) and MBIA (MBI) announced a comprehensive settlement to resolve all claims between the two companies. As part of the settlement, Bank of America will pay MBIA $1.6B in cash, receive warrants to purchase a 4.9% equity stake in MBIA and provide a $500M credit facility to the bond insurer. Bank of America also said it would take $1.3B in Q1 charges related to the settlement and that its first quarter earnings would be negatively impacted by 10c per share. Shares of MBIA, which spiked higher near noon after Dow Jones first reported the settlement, closed up $4.46, or 45.37%, to $14.29. Bank of America shares added 64c, or 5.23%, to $12.88... A team of private-equity firms led by Bain Capital and Golden Gate Capital agreed to buy BMC Software (BMC) for $46.25 per share in cash, or $6.9B. BMC shares, which have added more than 14% year-to-date amidst reports of negotiations for the deal, closed unchanged at $45.42. MAJOR MOVERS: Among notable gainers was Arkansas Best (ABFS), up $4.18, or 39.62%, to $14.73 after reaching a tentative labor agreement with the Teamsters union. Also higher was Tesla (TSLA), up $4.95, or 9.07%, to an all-time closing high of $59.50 after Barclays raised its price target on shares to $56 from $38 and the company named Aston Martin's lead vehicle engineer as VP of vehicle engineering. Among the noteworthy losers were LINN Energy (LINE), down $1.97, or 5.21%, to $35.75, and its spin-off LinnCo (LNCO), down $2.59, or 6.2%, to $39.24, following a cautious mention in this weekend's Barron's magazine. Also lower were shares of Tyson Foods (TSN), down 83c, or 3.33%, to $24.10 after its earnings report. INDICES: The Dow was down 5.07, or 0.03%, to 14,968.89; the Nasdaq was up 14.34, or 0.42%, to 3,392.97; and the S&P 500 was up 3.08, or 0.19%, to 1,617.50. |
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| 15:48 EDT | | BAC | MBIA to receive $1.7B net payment in settlement with Bank of America
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| 15:44 EDT | | BAC | BofA receives warrants for 9.94M shares of MBIA stock as part of settlement
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| 15:42 EDT | | BAC | MBIA to receive $1.7B net payment in settlement with Bank of America
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| 15:35 EDT | | BAC | BofA confirms settlement with MBIA, lowers Q1 EPS by 10c
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| 15:31 EDT | | BAC | BofA says MBIA pact, related issues cuts Q1 net EPS by 10c per share
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| 15:29 EDT | | BAC | Bank of America confirms comprehensive settlement With MBIA
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| 12:59 EDT | | BAC | Bank of America, MBIA in $1.7B mortgage settlement, WSJ reports
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| 12:53 EDT | | BAC | On The Fly: Midday Wrap
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| 12:33 EDT | | BAC | Merrill Lynch Wealth Management names Ashvin Chhabra CIO
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| 12:16 EDT | | BAC | MBIA continues rise, up 39% after Dow says to settle suit with BofA
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| 12:12 EDT | | BAC | Bank of America up 3% after Dow reports settlement of suit with MBIA
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| 12:09 EDT | | BAC | Bank of America to take 5% stake in MBIA, pay $1.6B in cash, DJ reports
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| 11:58 EDT | | NSM | High option volume stocks: NRGY RENN NSM MMM HRL
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| 09:43 EDT | | BAC | NY to sue Wells, BofA over mortgage settlement violations, NYT says
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| 07:45 EDT |  | BAC | Bank of America legal news a significant positive, says JPMorgan
JPMorgan notes that late on Friday, New York State Attorney General, Delaware State Attorney General, and Federal Housing Finance Authority said they will no longer object to Bank of America's (BAC) $8.5B mortgage settlement with private investors that was first agreed upon in 2011. JPMorgan views the development as significant positive legal news for Bank of America since several objectors to the settlement have now been removed. The firm adds, however, that few objectors remain, most notably AIG (AIG). JPMorgan keeps an Overweight rating on shares of Bank of America. |
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| 07:30 EDT | | BAC | Objections to BofA mortgage-backed securities settlement removed, WSJ reports
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| 07:17 EDT | | BAC | Summit Business Media holds a conference
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| May 5, 2013 |
| 19:20 EDT | | BAC | N.Y AG plans homeowner enforcement versus financial firms, Bloomberg reports
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