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Stock Market & Financial Investment News

News Breaks
May 5, 2014
06:23 EDTCS, BCS, UBSBarclays, Credit Suisse face legal issues, banker resignations, Bloomberg says
Barclays (BCS) Credit Suisse (CS) and UBS (UBS) will be questioned this week regarding key bankers resignations, legal woes and their efforts to increase profitability, according to Bloomberg, citing people familiar with the matter. Last week, Barclays lost three key bankers in the U.S. and Asia, Credit Suisse is dealing with possible U.S. criminal charges over its role in helping Americans avoid paying taxes and analysts' estimates indicate that UBS is falling short of profit targets. Reference Link
News For BCS;CS;UBS From The Last 14 Days
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March 6, 2015
10:00 EDTCSOn The Fly: Analyst Downgrade Summary
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08:26 EDTCSCredit Suisse downgraded at RBC Capital
As noted earlier, RBC Capital downgraded Credit Suisse to Sector Perform from Outperform. The firm downgraded the stock based on valuation.
06:20 EDTCSCredit Suisse downgraded to Sector Perform from Outperform at RBC Capital
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March 5, 2015
07:12 EDTUBSUBS strengthens U.S. M&A unit with Evercore, Lazard, BofA hires, WSJ says
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March 3, 2015
05:46 EDTBCSBarclays sees greater clarity on regulatory requirements during 2015
Barclays says that although there remains uncertainty in the global macroeconomic environment, which is expected to persist through the year, Barclays believes there will be greater clarity on regulatory requirements and several conduct issues during 2015. Expects to make further progress in 2015 on the run-down of the non-core unit, towards a targe tof GBP 45B risk weighted assets in 2016. Income in non-core is expected to reduce significantly from 2014 levels. Expects non-core dilution in group's return on equity in 2015 to remain within 3%-6% guidelines. Credit quality across the Barclays Group is expected to remain consistent with recent underlying trends, reflecting broader economic factors in the markets in which the Group operations. Expects to drive further reductions in operating expenses beyond those achieved in 2014, targeting GBP 16.3B for the Group. CTA is projected to be approximately GBP 700M in 2015 and GBP 200M in 2016. Expects net interest margin to be broadly stable in 2015. Expects Q1 income for the Investment Bank to be well ahead of Q4 reported income and approaching that of 1Q14.
05:43 EDTBCSBarclays sets aside foreign exchange provision of GBP 750M in Q4
In FY14, the bank set aside a provision of GBP 1.25B for certain aspects of ongoing investigations involving certain authorities and litigation relating to Foreign Exchange.
05:41 EDTBCSBarclays reports FY14 adjusted profit GBP 5.50B, core profit GBP 6.68B
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March 2, 2015
06:32 EDTUBS, CS, BCSLarge EU banks may come under scrutiny for reciprocity, WSJ says
The banking practice of reciprocity -- giving work to competitor banks in order to foster relationships or reward past deals -- may come under investigation by the U.K. Financial Conduct Authority, reports the Wall Street Journal, citing a person familiar with the regulator. The FCA believes the practice may be anticompetitive, but it hasn't yet determined the scope of its investigation into EU banks. Publicly traded companies in the space include Banco Santander (SAN), Barclays (BCS), Credit Suisse (CS), Deutsche Bank (DB), HSBC (HSBC), ING Groep (ING), Lloyds Banking (LYG), RBS (RBS) and UBS (UBS). Reference Link
February 27, 2015
08:01 EDTCSWells Fargo fires Ocwen as bond overseer, hires Credit Suisse, Bloomberg says
Wells Fargo (WFC) has issued notices to Ocwen (OCN) terminating it as overseer of debt backing for two bond deals, reports Bloomberg, citing letters sent from Wells Fargo to bondholders. Wells Fargo stated in notices sent to bondholders that a majority of investors felt the move was correct. Wells Fargo plans to transfer responsibility to Credit Suisse (CS). Reference Link
06:18 EDTBCSBarclays likely to delay forex settlement, FT says
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February 26, 2015
14:01 EDTBCS, UBSBarclays 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
10:00 EDTUBS, CSOn The Fly: Analyst Initiation Summary
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07:13 EDTUBSUBS to hold investor trip
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05:32 EDTCSCredit Suisse initiated with an Underperform at Exane BNP Paribas
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05:32 EDTUBSUBS initiated with an Underperform at Exane BNP Paribas
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February 24, 2015
13:07 EDTBCS, UBS, CSEU official: Euro banks shouldn't also go through Fed's stress test, WSJ says
Jonathan Hill, the European Unionís new financial markets chief, told The Wall Street Journal that he does not see a need for the U.S. to give stress tests to European banks that have already received health checks in Europe. Hill says banks across Europe are "properly and sensibly capitalized." The WSJ reported last week that the U.S. units of two European banks, Deutsche Bank (DB) and Banco Santander (SAN), are set to fail the Federal Reserve's stress tests, though they passed ECB stress tests last year. Reference Link
07:21 EDTUBS, CSSecurities Industry & Financial Markets Association to hold a conference
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06:15 EDTUBS, CS, BCSBanks probed for possible rigging of precious metals markets, WSJ reports
Officials in the U.S. are investigating at least 10 major banks for potential rigging of precious-metals markets, sources tell The Wall Street Journal. The DOJ's antitrust unit are investigating the price-setting process for gold, silver, palladium and platinum in London, while the CFTC has begun a civil investigation, with both agencies making requests for information, including a subpoena to HSBC (HSBC) from the CFTC. According to a source, Credit Suisse (CS), JP Morgan (JPM), UBS (UBS), Societe Generale (SCGLY), Bank of Nova Scotia (BNS), Barclays (BCS), Goldman Sachs (GS) and Deutsche Bank (DB) are also under investigation. Reference Link
February 20, 2015
10:20 EDTCSHigh option volume stocks
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