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Stock Market & Financial Investment News

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January 8, 2014
06:14 EDTCSCO, UAL, DAL, NYT, FRX, IBM, UBS, RBS, JPM, MS, GS, DB, C, BCSOn the Fly: Periodicals Wrap-Up
WALL STREET JOURNAL: Federal investigators are probing whether a number of Wall Street banks (BCS, C, DB, GS, MS, JPM, RBS, UBS) cheated clients in the years following the financial crisis by deliberately mispricing a type of mortgage bond that was central to the economic turmoil, sources say, the Wall Street Journal reports...Three years after IBM (IBM) began trying to turn its "Jeopardy"-winning computer into a big business, revenue from Watson is far from the company's ambitious targets, the Wall Street Journal reports...REUTERS: Forest Laboratories (FRX) is nearing an agreement to acquire specialty pharmaceutical company Aptalis Holdings from private equity firm TPG Capital for about $3B, sources say, Reuters reports...Chinese tycoon Chen Guangbiao dialed back his ambitious plans to buy The New York Times Co. (NYT) about a week after making his intentions public. Chen, does not hold shares in the Times, nor does he plan to buy any of its common shares, he said, noting that the Times rebuffed a request for a meeting. The company has a market value of $2.3B. Chen thinks it’s worth $1B, Reuters reports...BLOOMBERG: Delta Air Lines (DAL) and United Airlines (UAL) were forecast to experience fewer canceled flights today as weather warms and schedules begin to return to normal after winter storms erased more than 11,000 flights in four days and marooned millions of fliers, Bloomberg reports...Cisco Systems (CSCO) CEO John Chambers, speaking at the International Consumer Electronics Show, said that the Internet of Everything, connected products ranging from cars to household goods, could be a $19T opportunity, Bloomberg reports.
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July 14, 2014
07:05 EDTCCitigroup to settle DOJ, FDIC claims for $7B
07:03 EDTCCitigroup CEO: Settlement in best interests of shareholders
07:02 EDTCCitigroup CEO says has resolved substantially all legacy RMBS, CDO litigation
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07:01 EDTCCitigroup to take charge of approximately $3.8B pre-tax in Q2
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07:01 EDTCCitigroup to settle DOJ, FDIC claims for $7B
Citigroup announced that it has reached an agreement to settle the ongoing investigation of the Residential Mortgage-Backed Securities Working Group, part of the Financial Fraud Enforcement Task Force. Today’s agreement resolves actual and potential civil claims by the U.S. Department of Justice, several state attorneys general and the Federal Deposit Insurance Corporation relating to RMBS and collateralized debt obligations (CDOs) issued, structured or underwritten by Citi between 2003 and 2008. Under the terms of the settlement, Citigroup will pay a total of $4.5B in cash and provide $2.5B in consumer relief. The cash portion consists of a $4 billion civil monetary payment to the DOJ and $500M in compensatory payments to the State AGs and the FDIC. The consumer relief will be in the form of financing provided for the construction and preservation of affordable multifamily rental housing, principal reduction and forbearance for residential loans, as well as other direct consumer benefits from various relief programs. Citigroup has agreed to provide the consumer relief by the end of 2018. Michael Corbat, CEO of Citigroup, said, “The comprehensive settlement announced today with the U.S. Department of Justice, state attorneys general, and the FDIC resolves all pending civil investigations related to our legacy RMBS and CDO underwriting, structuring and issuance activities. We also have now resolved substantially all of our legacy RMBS and CDO litigation. We believe that this settlement is in the best interests of our shareholders, and allows us to move forward and to focus on the future, not the past.”
07:00 EDTCCitigroup announces settlement with RMBS Working Group
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06:46 EDTIBMIBM to research smart cities, Xinhua reports
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July 13, 2014
20:31 EDTCCitigroup's $7B U.S settlement on mortgages expected Monday, Reuters says
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July 11, 2014
15:59 EDTCOptions Update; July 11, 2014
iPath S&P 500 VIX Short-Term Futures down 33c to 28.25. Option volume leaders: AAPL C GILD X FB GOOG AMZN TWTR TSLA according to Track Data.
15:47 EDTBCSBarclays index unit could sell for close to $1B, Reuters reports
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15:44 EDTCCitigroup technical comments ahead of results
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15:28 EDTCCitigroup July 47 straddle priced for 2.8% move into Q2
12:12 EDTCCitigroup to host conference call
Management holds a 2Q Fixed Income Investor Review conference call on July 18 at 11 am. Webcast Link
11:02 EDTNYTNew York Times Q2 finished below guidance, says Jefferies
Jefferies earlier today said that based on its daily tracking of ad pages, New York Times finished below guidance in Q2 and its Q3 is off to a slow start. Citing weakness in several key categories, Jefferies lowered its Q2 and Q3 advertising estimates for New York Times to down 6.8% and down 5.1% from down 4.1% and down 3.1%. The firm kept a Hold rating on the stock with a $15 price target. Shares of New York Times are trading down 5%, or 67c, to $14.13 in morning trading.
10:28 EDTCURS Corporation working with banks on potential sale, Reuters reports
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09:37 EDTCActive equity options trading on open
Active equity options trading on open according to Track Data: AAPL WFC C SUNE FB AMZN TSLA TWTR
07:34 EDTMSMorgan Stanley July volatility elevated into Q2 and outlook
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07:30 EDTBCSBarclays to re-purpose cashiers with more customer-focused role, FT says
Barclays plans to have its 6,500 cashiers change their positions away from processing simple transactions and turning more toward giving customers advice, said Financial Times, which noted that the bank will give those employees an automatic 2.8% annual pay raise from October. Reference Link
07:20 EDTJPM, C, MS, GSBig banks seen losing reserve release cushion, Reuters says
Releasing loan-loss reserves has helped U.S. big banks weather a period of weak loan demand and lower fee income, but Q2 results from the banks may see less benefit from the practice as loss rates and reserves near their lower limits, said Reuters. Publicly traded companies in the space include Bank of America (BAC), Citigroup (C), Goldman Sachs (GS), JPMorgan (JPM), Morgan Stanley (MS), U.S. Bancorp (USB) and Wells Fargo (WFC). Reference Link
06:48 EDTBCS, RBSBank of England says banks' capital requirement could rise, Reuters reports
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