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Stock Market & Financial Investment News

News Breaks
February 28, 2012
10:36 EDTWFC, C, BAC, JPMBanking industry may have very positive mortgage settlement, says Rochdale
Rochdale's Dick Bove said the banking industry may have negotiated some "huge benefits" with the Attorney General regarding mortgage services.
News For BAC;WFC;JPM;C From The Last 14 Days
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November 13, 2014
12:53 EDTWFCWells Fargo sees Q4 mortgage originations to decline from Q3
Expects Q4 mortgage originations to decline from Q3, reflecting normal seasonality in purchase market, while gain on sale margin is expected to remain within range of last four quarters. Expects to operate within targeted efficiency ratio range of 55%-59% in Q4. Wells Fargo said that while there is potential for continued net interest margin pressure, focus remains on growing net interest income over time. The comapny said it expects future reserve releases absent signification deterioration in the economy, but expect a lower level of future releases as the rate of improvement in credit loans and loan portfolio grows. Expects share count to continue to decline in Q4 as result of anticipated net share repurchases. Says mortgage business profitable and very pleased with that segment. Comments taken from slides for presentation at Bank of America Merrill Lynch Banking and Financial Services Conference.
08:33 EDTWFCWells Fargo sells federal student loans to Navient
Wells Fargo & Co. (WFC) Education Financial Services announced that Navient (NAVI) will purchase a principal balance of $8.5B of Federal Family Education Loan Program loans, which are included in Wells Fargo’s held-for-sale loan portfolio. Due to a change in federal law, Wells Fargo has not issued federal student loans since June 30, 2010. This sale supports Wells Fargo’s ongoing strategic focus on its private student lending business. “By selling these FFELP loans to Navient, Wells Fargo will be in a position to focus more on meeting the needs of our private student loan customers,” said John Rasmussen, head of Wells Fargo’s Education Financial Services. “We are deeply committed to the private student loan business because next to purchasing a home or saving for retirement, paying for an education is one of the most important financial events for our customers.” ). The sale is expected to close in a series of transactions, substantially all of which are expected to be completed in fourth quarter 2014, subject to customary closing conditions. Terms of the transaction were not disclosed and the sale is not material to Wells Fargo.
07:38 EDTJPMBloomberg Link to hold a conference
The Year Ahead: 2015 is being held in Washington, D.C. with a pre-conference dinner on November 13 followed by company presentations on November 14,
November 12, 2014
16:23 EDTBAC, C, JPMOn The Fly: Closing Wrap
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12:38 EDTBAC, C, JPMOn The Fly: Midday Wrap
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10:19 EDTJPMJPMorgan pays $1.01B to settle FX charges, says litigations ongoing
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10:14 EDTC, BAC, JPMOCC fines Bank of America, Citigroup, JPMorgan $950M over FX trading
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10:07 EDTCCitigroup to pay $1.02B to settle foreign exchange investigations
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10:06 EDTCCitigroup announces foreign exchance settlements
10:00 EDTJPMOn The Fly: Analyst Downgrade Summary
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09:37 EDTCActive equity options trading
Active equity options trading according to Track Data: AAPL CLSN TWTR BABA NFLX TSLA AMZN CSIQ C
09:36 EDTJPM, WFCInformation Management Network to hold a symposium
Private Label RMBS Reform Symposium is being held in New York on November 12.
08:57 EDTJPM, CBarclays excluded from forex settlement due to issues with NYDFS, Reuters says
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08:13 EDTJPM, CBoston Biotech to hold a conference
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08:07 EDTCMacy's, Citi Retail Services renew card agreement
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07:28 EDTC, JPM, WFC, BACBofA/Merrill to hold a conference
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07:02 EDTJPMJPMorgan makes changes in response to foreign exchange probe, Reuters says
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06:12 EDTC, JPMCFTC fines five banks $1.4B for manipulation of FX benchmark rates
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06:05 EDTC, JPMFCA fines five banks $1.7B over FX trading operations
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06:04 EDTJPMJPMorgan downgraded to Market Perform from Outperform at Bernstein
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