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Stock Market & Financial Investment News

News Breaks
January 15, 2014
11:53 EDTTWC, BACStocks with call strike movement; BAC TWC
Bank of America (BAC) April 19 call option implied volatility decreased 5% to 22, Time Warner Cable (TWC) April 150 call option implied volatility increased 2% to 16 according to IVolatility.
News For BAC;TWC From The Last 14 Days
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February 27, 2015
09:35 EDTBACActive equity options trading on open
Active equity options trading on open according to Track Data: AAPL MCD GOOG MNST BAC TSLA NFLX SINA AMZN WYNN
07:17 EDTBACUniversity of Chicago Booth School of Business to hold a forum
U.S. Monetary Policy Forum is being held in New York on February 27.
06:32 EDTBACBank of America Chief Accounting Officer, two directors to step down
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05:50 EDTBACBank of America downgraded to Neutral from Buy at UBS
UBS analyst Brennan Hawken downgraded Bank of America to Neutral from Buy saying disclosures in the bank's recent annual filing raise the risk of a qualitative failure this year. Hawken believes that even with yesterday's 2.7% pullback, shares of Bank of America are not fully pricing in the risk of a qualified failure in the Federal Reserve's Comprehensive Capital Analysis and Review, or CCAR. The analyst writes that even if BofA passes the CCAR, the Fed's annual exercise to assess whether the largest banks have sufficient capital, its regulatory capital ratios are well below peers, which could drive lower capital returns. Hawken cut his price target on the banking giant to $16 from $20. Shares of Bank of America closed yesterday down 45c to $16.04.
February 26, 2015
15:02 EDTBACFed extends capital surcharge for SiFi banks comment period to April 3
The Federal Reserve extended until April 3 the comment period for its proposed rule to implement capital surcharges for the largest, most systemically important U.S. bank holding companies. The Fed extended the comment period to allow interested persons more time to analyze the issues and prepare their comments. Originally, comments were due by March 2. The proposed rule would establish a methodology to identify whether a firm is a global systemically important banking organization and would also establish the size of a firm's risk-based capital surcharge. The proposal is designed to further strengthen the capital positions of these institutions. Large U.S. banks include Bank of America (BAC), Citi (C), Goldman Sachs (GS), JPMorgan (JPM), Morgan Stanley (MS), U.S. Bancorp (USB) and Wells Fargo (WFC).
14:01 EDTBACBarclays to double provision for forex rigging fines, Sky News says
Barclays (BCS), which previously excluded itself from a broader settlement between several banking peers and regulators over alleged manipulation of foreign exchange rates as it worked to secure a binding agreement with all relevant authorities, will more than double its existing provision for forex fines next week, which may indicate that a settlement deal could be announced soon, said Sky News. Barclay took a GBP500M charge during the course of last year in advance of expected forex issue costs, the report noted. Other banks that previously agreed to a settlement included Bank of America (BAC), Citibank (C), HSBC (HSBC), JPMorgan Chase (JPM), RBS (RBS) and UBS (UBS). The report indicates that U.S. regulators have stepped up talks with banks including Barclays and the others involved. Reference Link
13:00 EDTTWCFCC votes in favor of adopting net neutrality proposals
The Federal Communications Commission voted 3 to 2 in favor of adopting new open Internet, or "net neutrality," rules. FCC Chairman Tom Wheeler has proposed that the FCC use its Title II authority to implement and enforce open Internet protections, with "bright-line" rules to ban paid prioritization and the blocking and throttling of lawful content and services. However, Wheeler said his proposal will "modernize" Title II, insuring there will be no rate regulation, no tariffs, and no last-mile unbundling. Major Internet Service Providers, including AT&T (T), Comcast (CMCSA), and Verizon (VZ), have opposed FCC Chairman Wheeler's proposals to treat Internet service similar to a utility. Other companies that provide Internet services include Time Warner Cable (TWC), CenturyLink (CTL), DIRECTV (DTV), Cablevision (CVC) and Lumos Networks (LMOS). Netflix (NFLX) has strongly supported open Internet provisions. Cogent Communications (CCOI) and Level 3 Communications (LVLT) are facilities-based providers of Internet access and Internet Protocol communications services that are likely to be impacted by FCC rules on net neutrality.
12:55 EDTTWCFCC Chair says open Internet proposals not a plan to control the Internet
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10:50 EDTBACNew York regulator considering cybersecurity, cash laundering controls, WSJ says
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05:43 EDTTWCCablevision downgraded to Sell from Hold at Brean Capital
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February 25, 2015
12:48 EDTTWCAnalysts upbeat on Comcast despite mixed results
After Comcast (CMCSA) yesterday reported lower than expected fourth quarter profits and higher than expected revenue, analysts remained upbeat on cable giantís outlook. WHAT'S NEW: Weak revenue from NBC Universal, along with lower than expected TV and Internet subscriber totals, weighed on Comcast's results in Q4, Pacific Crest analyst Andy Hargreaves wrote in a note to investors today. Meanwhile, Comcastís profits were hurt by $99M of expenses during the quarter related to its pending acquisition of Time Warner Cable (TWC), the analyst reported. However, the investments that Comcast is making in its broadband and video platform should make its offerings superior to its competitors in all parts of the country, causing its broadband subscriber base to continue to grow, the analyst stated. In a favorable scenario, Comcast's video subscriber totals could rise in 2016, added Hargreaves. Additionally, Comcast's acquisition of Time Warner Cable (TWC) will be approved, enabling it to benefit from synergies, predicted Hargreaves, who kept a $65 price target and Outperform rating on Comcast. Gregory Miller, an analyst at Canaccord, raised his price target on the shares to $70 from $62. The company's results indicate that its underlying operations are solid, Miller wrote. Moreover, Comcast's comments suggest that the growth of the company's cable business could accelerate this year, while NBC's broadcast and theme park businesses could stay strong, according to Miller. The analyst believes that the Time Warner Cable deal will probably be approved. He reiterated a Buy rating on Comcast. PRICE ACTION: In early afternoon trading, Comcast rose 1% to $60.
08:28 EDTTWCComcast shares still attractive, says Pacific Crest
After Comcast (CMCSA) reported lower than expected Q4 EPS, Pacific Crest continues to expect the company's acquisition of Time Warner Cable (TWC) to close, and continues to believe that Comcast's stock can rise, driven by synergies, broadband demand, and higher than expected 2016 video subscriptions. Pacific Crest keeps a $65 price target and Outperform rating on the shares.
07:25 EDTTWCComcast price target raised to $70 from $62 at Canaccord
Canaccord raised its price target on Comcast (CMCSA) to $70 from $62 despite weaker than expected Q4 results. The firm cited expectations for continued momentum with Cable Communications, Broadcast, and Theme Parks as well as its merger with Time Warner Cable (TWC). Canaccord maintained its Buy rating on Comcast shares.
February 24, 2015
14:43 EDTBACBofA head of Americas equitites leaving company, Bloomberg reports
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12:12 EDTBACBank of America head of equities for America leaving bank, Bloomberg says
09:09 EDTTWCComcast confident Time Warner Cable transaction to close in early 2015
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07:21 EDTBACSecurities Industry & Financial Markets Association to hold a conference
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07:02 EDTTWCComcast increases dividend, share repurchases
Comcast Corporation (CMCSA) announced that it increased its dividend by 11.1% to $1.00 per share on an annualized basis. In accordance with the increase, the Board of Directors declared a quarterly cash dividend of 25c a share on the companyís common stock, payable on April 22 to shareholders of record as of the close of business on April 1.In addition, Comcast announced that its Board of Directors has increased its stock repurchase program authorization to $10B. At this time, Comcast plans to repurchase $4.25B during 2015, subject to market conditions. Additional stock repurchases will be determined after the closing of the Time Warner Cable (TWC) merger and the subsequent divestiture transactions.
February 23, 2015
18:20 EDTTWCComcast, Time Warner Cable face $20B racial discrimination suit, Reuters reports
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February 19, 2015
06:47 EDTBACReport shows subprime consumer loans at pre-2007 levels, WSJ says
Equifax (EFX) has released a report stating nearly 40%, or 50M, of auto loans, credit cards, and personal loans during the first 11 months of 2014 were made to subprime customers, the highest levels since the 2007 financial crisis, reports the Wall Street Journal. LendingTree (TREE) Chief Marketing Officer Gabriel Dalporto attributes the growth to nonbank lenders under less regulatory scrutiny than large banks. Publicly traded companies in the space include Bank of America (BAC), Citi (C), Goldman Sachs (GS), JPMorgan (JPM), Morgan Stanley (MS), U.S. Bancorp (USB) and Wells Fargo (WFC). Reference Link
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