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News Breaks | | | | March 15, 2013 | | 17:00 EDT |  | OGE, BAC, ULTA, ROSE, GS, CNP, CRK, JPM, BBT | On The Fly: Closing Wrap
Stocks on Wall Street were lower, ending a 10-day streak of gains for the Dow and marking the first Friday in 2013 that the average finished lower... ECONOMIC EVENTS: In the U.S., the consumer price index rose 0.7% in February, versus the expected increase of 0.5%. However, the "core" CPI reading that excludes food and energy components was up 0.2%, which matched forecasts. The New York Fed "Empire State" manufacturing survey for March came in at 9.24, versus expectations for a 10.0 reading. Industrial production rose 0.7% in February, versus expectations for an increase of 0.4%, while industrial capacity utilization came in at 79.6% in the month, versus a consensus forecast of 79.4%. The Reuters/University of Michigan consumer sentiment index slid 5.8 points to 71.8 in the preliminary March reading, though it had been expected to rise slightly from the end of February figure... COMPANY NEWS: Bank stocks were in focus after the Federal Reserve last night announced it approved the capital plans of 14 financial institutions subjected to its latest round of stress tests. BB&T (BBT) was the only publicly traded bank the Fed gave an objection to, while JP Morgan (JPM) and Goldman Sachs (GS) both received conditional approval, with the Fed requiring them to submit new capital plans by the end of Q3 to address weaknesses. Bank of America (BAC) was among the winners, gaining 46c, or 3.80%, to $12.57 after announcing a $5B stock buyback program that was approved by regulators... MAJOR MOVERS: Among the notable gainers was Comstock Resources (CRK), up $2.04, or 12.78%, to $18.00 after it agreed to sell certain Permian Basin assets to Rosetta Resources (ROSE) for $768M. Also higher were shares of OGE Energy (OGE), up $6.28, or 10.24%, to $67.63, and CenterPoint Energy (CNP), up $1.57, or 7.19%, to $23.41 after the companies announced a partnership to combine $11B in assets. Among noteworthy losers was Ulta Salon (ULTA), down $14.23, or 16.10%, to $74.14 after its quarterly report, though shares were defended by a number of analyst firms... INDICES: The Dow was down 25.03, or 0.17%, to 14,514.11; the S&P 500 was down 2.53, or 0.16%, to 1,560.70; the Nasdaq was down 9.86, or 0.30%, to 3,249.07. | |
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News For BBT;JPM;GS;BAC;CRK;ROSE;OGE;CNP;ULTA From The Last 14 Days Check below for free stories on BBT;JPM;GS;BAC;CRK;ROSE;OGE;CNP;ULTA the last two weeks. |
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| May 17, 2013 | | 16:00 EDT |  | BAC | Options Update; May 17, 2013
 Subscribe for More Information | | | 10:20 EDT |  | BAC | Bank of America rises, levels to watch
Subscribe for More Information | | | 07:10 EDT |  | JPM | JPMorgan asks shareholders to reject chairman, CEO split, WSJ reports
Subscribe for More Information | | | 06:06 EDT | | JPM | On the Fly: Periodicals Wrap-Up
WALL STREET JOURNAL: A so-so Q1 earnings season hasn't dented investors' enthusiasm for stocks as prices have been rising, with the DJIA up 16% for the year and 4.2% since earnings season began April 8, the Wall Street Journal reports...JPMorgan Chase (JPM), in a last-ditch effort to beat back activist investors, sent a letter to shareholders who have yet to vote on the nonbinding proposal ahead of the May 21 annual meeting, urging them to reject a proposal to split the chairman and CEO roles held by James Dimon, the Wall Street Journal reports...REUTERS: Amazon.com (AMZN) will be called back to the British parliament to clarify how its activities in the U.K. justify its low corporate income tax bill, Reuters reports...J.C. Penney (JCP) CEO Ullman says that the department store chain is emerging from what he called an abyss but warned he needs time to fix the issues of the retailer, Reuters reports...BLOOMBERG: Apple (AAPL), which holds $102B in cash and investments outside the U.S., will suggest changes to corporate-tax laws to encourage companies to bring more cash into the country, Bloomberg reports...Fiat’s (FIATY) deliberations over moving its headquarters to the U.S. after a merger with Chrysler Group LLC. raised concern among Italian unions and politicians about the plans of the country’s biggest manufacturer. CEO Marchionne is considering the move because Fiat’s main sources of revenue and profit are shifting to North America, Bloomberg reports. | | | May 16, 2013 | | 12:01 EDT |  | JPM | Bill Daley assisting JPMorgan over vote, CNBC's Tausche reports
Subscribe for More Information | | | 10:03 EDT |  | CRK | On The Fly: Analyst Downgrade Summary
Subscribe for More Information | | | 10:03 EDT |  | ROSE | On The Fly: Analyst Upgrade Summary
Subscribe for More Information | | | 09:05 EDT | | GS | SolarCity, Goldman Sachs collaborate on solar lease financing platform
Subscribe for More Information | | | 08:51 EDT |  | JPM | JPMorgan management to meet with UBS
Meeting to be held in New York on May 16 hosted by UBS. | | | 08:33 EDT | | BBT | BofA/Merrill's gobal financial analysts hold an analyst/industry conference call
Global Financial Institutions Analysts discuss their Global Financials Quarterly Best Ideas Report on an Analyst/Industry conference call. Relevant companies AIG, ALL, ASBC, BCH, BKU, BBT, BBD, C, CMA, EVER, FITB, FHN, FRC, FULT, HBAN, ING, KEY, MTB, PNC, RF, STI, SUSQ, SNV, HIG, USB, WFC, XL and ZION may be included on the Analyst/Industry conference call to be held on May 16 at 10 am. | | | | 07:35 EDT | | JPM | J.C. Penney May volatility elevated at 106 into Q1
J.C. Penney May call option implied volatility is at 106, June is at 57, July is at 50; compared to its 26-week average of 62 according to Track Data, suggesting larger near term price movement in the expected release of Q1 results after the market close today. | | | 07:18 EDT | | BAC | Investors bet on banks hit by credit crisis, Bloomberg reports
Subscribe for More Information | | | 06:42 EDT | | CRK | Comstock Resources downgraded to Hold from Buy at KeyBanc
KeyBanc downgraded Comstock citing lack of catalysts and inventory concerns that will require it to make additional oil-focused acquisitions. | | | 06:41 EDT | | GS, BAC, JPM | Big banks to benefit from U.S. concession on derivatives, NY Times says
Subscribe for More Information | | | 06:19 EDT | | GS | U.K. judge rules Goldman Sachs tax deal didn’t break law, Bloomberg reports
Goldman Sachs Group's deal with the U.K. government that may have saved the investment bank about $30.6M on its taxes didn’t break any laws and was properly conducted, a judge ruled, reports Bloomberg. Reference Link | | | 06:12 EDT | | JPM | JPMorgan's Dimon has long helped select new board members, Reuters reports
Subscribe for More Information | | | 05:35 EDT | | ROSE | Rosetta Resources upgraded to Outperform from Market Perform at Wells Fargo
Subscribe for More Information | | | May 15, 2013 | | 17:03 EDT | | JPM | Soros gives quarterly update on stakes
NEW STAKES: MeadWestvaco (MWV), Brocade (BRCD), Red Hat (RHT), Liberty Global (LBTYK), and VMware (VMW). INCREASED STAKES: Google (GOOG), Liberty Global (LBTYA), EQT Corp (EQT), Charter (CHTR), and US Airways (LCC). DECREASED STAKES: Citigroup (C), AIG (AIG), Apple (AAPL), Invesco (IVZ), and Motorola Solutions (MSI). LIQUIDATED STAKES: JPMorgan (JPM), General Electric (GE), CF Industries (CF), Morgan Stanley (MS), and Capital One (COF). | | | 13:17 EDT | | GS | Goldman Sachs COO says will address Fed's CCAR concerns
Subscribe for More Information | | | 13:15 EDT | | GS | Goldman Sachs COO says wouldn't cut equities on first move by Fed
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