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Stock Market & Financial Investment News

News Breaks
April 28, 2014
08:34 EDTBACBank of America announces adjustment to estimated regulatory capital ratios
Bank of America Corporation announced a downward revision to the company’s previously disclosed regulatory capital amounts and ratios due to an incorrect adjustment related to the treatment of certain structured notes assumed in the Merrill Lynch & Co., Inc. acquisition in 2009. The reduction in the regulatory capital amounts and ratios has no impact on the company’s historical consolidated financial statements or shareholders’ equity, which were properly stated in accordance with accounting principles generally accepted in the United States of America. On April 16, the company issued a press release announcing preliminary financial results for the quarter ended March 31, 2014. As part of such release, the company included estimated preliminary Basel 3 capital amounts and ratios as well as Basel 1 capital amounts and ratios for 2013. Subsequent to the press release, the company discovered an incorrect adjustment being applied in the determination of regulatory capital related to the application of the fair value option to certain legacy Merrill Lynch structured notes resulting in an overstatement of its regulatory capital amounts and ratios. The company correctly adjusted for the cumulative unrealized change on structured notes accounted for under the fair value option, but it incorrectly adjusted for cumulative realized losses on Merrill Lynch issued structured notes that had matured or were redeemed by the company subsequent to the date of the Merrill Lynch acquisition. As a result, the company is making the following adjustments to the previously announced estimated preliminary capital ratios for the first quarter ended March 31, 2014: the estimated Basel 3 Standardized transition common equity tier 1 capital ratio was revised to 11.8 percent, down 5 basis points; the estimated tier 1 capital ratio was revised to 11.9 percent, down 21 basis points; the estimated total capital ratio was revised to 14.8 percent, down 21 basis points; and the estimated tier 1 leverage ratio was revised to 7.4 percent, down 12 basis points. On a fully phased-in basis, Bank of America estimates that for the first quarter ended March 31, 2014, the common equity tier 1 capital ratio under the Basel 3 Standardized approach decreased 27 basis points to 9.0 percent from the previously reported estimated ratio, and the estimate for the common equity tier 1 capital ratio under the Basel 3 Advanced approaches decreased 29 basis points to 9.6 percent from the previously reported estimated ratio. These ratios exceed the company’s estimated 2019 minimum common equity tier 1 ratio requirement, including buffers, of 8.5 percent.
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June 24, 2015
06:37 EDTBACDeutsche downgrades Citi, Goldman after share rallies
Deutsche Bank analyst Matt O'Connor recommends using the strong share performance of both Citi (C) and Goldman Sachs (GS) as on opportunity to take profits. The analyst this morning downgraded shares of both investment banks to Hold from Buy. Citi is up 21% from the lows on January 30 while Goldman is up 30% since July 1, 2014, the analyst points out. On Citi, O'Connor sees less near term upside with fixed income trading entering a seasonally weak period and core cost reductions largely over. On Goldman, the analyst sees a lack of catalysts to drive the stock meaningfully higher in the near term. His top picks among U.S. Banks are Bank of America (BAC), JPMorgan (JPM), M&T Bank (MTB) and SunTrust (STI).
June 23, 2015
16:00 EDTBACOptions Update; June 23, 2015
iPath S&P 500 VIX Short-Term Futures down 46c to 17. Option volume leaders: AAPL FB AAPL T BAC MU BTU WMB AMZN TWTR BBRY
09:36 EDTBACActive equity options trading on open
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06:25 EDTBACBarclays-Stifel deal marks end of Lehman legacy, Business Insider reports
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June 22, 2015
16:00 EDTBACOptions Update; June 22, 2015
iPath S&P 500 VIX Short-Term Futures down 78c to 17.45. Option volume leaders: AAPL FB BAC CHK WMB BABA TWTR MU AMBA TSLA JPM
09:40 EDTBACActive equity options trading on open
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June 19, 2015
16:00 EDTBACOptions Update; June 19, 2015
iPath S&P 500 VIX Short-Term Futures up 11c to 18.21, Option volume leaders: AAPL TWTR BAC T FB GILD NFLX BABA AAL MU AMZN
09:37 EDTBACActive equity options trading on open
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05:54 EDTBACRBS looks to hire banker who had worked on ABN deal, Financial Times reports
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June 18, 2015
12:04 EDTBACActive options: AAPL ORCL FB RAD BAC HTZ MU GE TSLA AMZN BABA KO
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06:36 EDTBACGoldman tells interns not to stay in office overnight, Reuters reports
Goldman Sachs (GS), which has been looking to improve working conditions for its investment-banking interns, has set new guidelines, under which interns are expected to stay away from the office between midnight and 7 a.m. during weekdays, Reuters reports, citing company sources and confirmed by a Goldman spokesperson. Following the 2013 death of a Bank of America (BAC) intern in London, Goldman and other banks have taken steps to encourage its junior employees to take time off. Reference Link
June 17, 2015
14:42 EDTBACOption volume leaders
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11:16 EDTBACOCC restricts some banks from certain mortgage related business activity
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09:40 EDTBACActive equity options trading on open
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09:36 EDTBACActive equity options trading on open
Active equity options trading on open: AAPL FB AMD ADBE TWTR BABA QIHU NFLX BAC
08:10 EDTBACFed told BofA it is too reactive to problems raised by regulators, WSJ says
The Federal Reserve told Bank of America earlier this year that it does not think its management is forward-looking enough and is rather too reactive to problems after they are raised by regulators during “stress tests,” the Wall Street Journal reports, citing people familiar with the matter. As a result, in March, the Fed only granted the bank conditional approval to return capital to shareholders, meaning the bank is required to submit a revised stress test plan by September 30, the report says. In response, Bank of America has hired “several” outside consultants to look over the way it runs the tests, the Wall Street Journal reports, citing others close to the situation. Reference Link
06:48 EDTBACMore big banks waiving overdraft fees, WSJ reports
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June 16, 2015
16:01 EDTBACApple Twitter Facebook Bank of America Yahoo Netflix Alibaba WisdomTree Coca-Cola Goldman Sachs Micron General Electric
iPath S&P 500 VIX Short-Term Futures down 33c to 18.68. Option volume leaders: AAPL TWTR FB BAC YHOO NFLX BABA WETF KO GS MU GE.
09:36 EDTBACActive equity options trading on open
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07:11 EDTBACSurprise AIG ruling may make future bailouts unlikely, even if needed, NYT says
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