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Stock Market & Financial Investment News

News For BCS;UBS;RBS;DB;HBC;C;JPM From The Last 14 Days
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December 19, 2014
16:01 EDTCOptions Update; December 19, 2014
iPath S&P 500 VIX Short-Term Futures down 27c to 29.90. Option volume leaders: AAPL TSLA TWTR AMZN FB C GILD BAC NFLX according to Track Data.
07:31 EDTJPM, CLarge banks oil exposure manageable, says Wells Fargo
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December 18, 2014
15:16 EDTC, JPMFed gives banks until July 2016 to to conform investments with covered funds
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07:56 EDTJPMJPMorgan management to meet with Deutsche Bank
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07:45 EDTBCSBarclays says more funds to be put aside to settle forex claims, Sky reports
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06:35 EDTDBDeutsche Bank to examine strategy, may revise profit targets, Reuters reports
Deutsche Bank said it would examine its strategy next year, according to Reuters. The statement came after a business magazine said the bank was weighing major changes, possibly including revising its profit targets and selling its Postbank retail unit, the news service stated. Reference Link
December 17, 2014
16:00 EDTCOptions Update; December 17, 2014
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07:20 EDTDB, CCapital Link to hold a forum
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December 16, 2014
17:11 EDTUBSGIC Private reports 7.07% passive stake in UBS
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16:00 EDTCOptions Update; December 16, 2014
iPath S&P 500 VIX Short-Term Futures up 1.55 to 34.60. Option volume leaders: AAPL TSLA TWTR AMZN FB C GILD BAC NFLX AA MGM MCD according to Track Data.
12:04 EDTJPMJPMorgan says about half done with mortgage aid settlement, WSJ says
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09:59 EDTJPM, COn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: BB&T (BBT) initiated with a Neutral at Guggenheim... Bank of America (BAC) initiated with a Buy at Guggenheim... Ciena (CIEN) initiated with a Neutral at Wedbush... Cimarex Energy (XEC) initiated with a Perform at Oppenheimer... Citigroup (C) initiated with a Neutral at Guggenheim... Extended Stay America (STAY) initiated with a Market Perform at JMP Securities... Infinera (INFN) initiated with a Neutral at Wedbush... JPMorgan (JPM) initiated with a Neutral at Guggenheim... Morgan Stanley (MS) initiated with a Buy at Guggenheim... Newfield Exploration (NFX) initiated with an Outperform at Oppenheimer... Nike (NKE) initiated with a Market Perform at Cowen... PNC Financial (PNC) initiated with a Neutral at Guggenheim... Peak Resorts (SKIS) initiated with an Outperform at FBR Capital... Peak Resorts initiated with an Outperform at Oppenheimer... Ralph Lauren (RL) initiated with an Outperform at Cowen... U.S. Bancorp (USB) initiated with a Neutral at Guggenheim... Under Armour (UA) initiated with an Outperform at Cowen... Wells Fargo (WFC) initiated with a Neutral at Guggenheim... Whiting Petroleum (WLL) initiated with an Outperform at Oppenheimer... Lowe's (LOW) initiated with a Neutral at Nomura... Home Depot (HD) initiated with a Neutral at Nomura... Estee Lauder (EL) initiated with a Buy at KeyBanc... Huntsman (HUN) initiated with a Buy at Nomura... Dow Chemical (DOW) initiated with a Buy at Nomura.
09:36 EDTC, JPMActive equity options trading
Active equity options trading according to Track Data: AAPL AMZN C TSLA PBR TWTR NFLX JPM CLF ABX
07:58 EDTBCSBarclays volatility at upper end of 18-month range
Barclays overall option implied volatility of 29 compares to its 26-week average of 26 according to Track Data, suggesting large price movement.
07:39 EDTCCitigroup management to meet with UBS
Meeting to be held in Connecticut on December 16 hosted by UBS.
07:18 EDTCCitigroup volatility elevated at 24
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07:17 EDTJPMJPMorgan Chase volatility elevated at 24
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06:56 EDTRBSRoyal Bank of Scotland, Lloyds fail stress test, NY Times says
The Royal Bank of Scotland (RBS) and Lloyds (LYG) failed a stress test performed by the Bank of England, according to The New York Times. The central bank found that Royal Bank and Lloyds would not have had enough capital to withstand a severe financial shock at the end of last year, the newspaper stated. However, Lloyds has raised enough capital this year to survive the stress test scenario, the newspaper quoted the Bank of England as saying. Reference Link
06:35 EDTRBS, BCSBank of England says seven of eight banks pass stress test
The Bank of England said that all but one of the eight banks passed its stress test. The one bank, Co-operative, needs to submit a revised plan to strengthen its balance sheet. Royal Bank of Scotland (RBS), Lloyds (LYG) and Co-operative were found to be the most susceptible to a housing crash and spike in unemployment. RBS and Lloyds passed the stress test, however. Both banks need improved capital positions, but have already put in place plans to do so, the central bank's Prudential Regulation Authority stated. Reference Link
06:07 EDTRBSRBS to sell portfolio of Irish real estate loans to Cerberus for GBP 1.1B
The Royal Bank of Scotland Group announced the agreement to sell a portfolio of Irish real estate loans to an entity controlled by Cerberus. At completion, RBS will receive cash consideration of up to GBP 1.1B at current exchange rates. Completion is expected in 1Q15. The sale proceeds will be used for general corporate purposes. The transaction, which represents RWA equivalent of cGBP 1.22B as at September 30, is part of the continued reduction of assets in its RBS Capital Resolution division and is in line with the bank's plan to strengthen its capital position and reduce higher risk exposures. The carrying value of the loans is cGBP 1B, the gross assets are cGBP 4.8B and generated a loss of GBP 0.8B, principally impairment provisions, in the year to December 31, 2013.
December 15, 2014
16:13 EDTCCitigroup initiated with a Neutral at Guggenheim
16:12 EDTJPMJPMorgan initiated with a Neutral at Guggenheim
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16:00 EDTCOptions Update; December 15, 2014
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14:21 EDTCCitigroup reports November credit loss 2.37% vs. 2.18% last month
Reports November delinquencies 1.52% vs. 1.56% last month.
09:38 EDTCActive equity options trading
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07:29 EDTJPMJPMorgan reports November net credit losses 2.61% vs. 2.26% last month
Reports November delinquency rate 1.34% vs. 1.34% last month.
06:51 EDTCLiberals attack Citigroup over controversial provision in bill, NY Times says
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December 12, 2014
16:00 EDTCOptions Update; December 12, 2014
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15:09 EDTJPMJPMorgan slips lower in late afternoon trading, levels to watch
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09:35 EDTCActive equity options trading
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08:09 EDTC, JPMBofA/Merrill financial analysts hold an analyst/industry conference call
Banks Analyst Najarian, along with Capital Markets Analyst Carrier, Specialty Finance Analyst Bruce discuss the year ahead in Financials, covering the Banks, Capital Markets, Life and P/C Insurance, REIT, Specialty Finance and Canadian Banks/Life Insurance sectors on an Analyst/Industry conference call to be held on December 16 at 10 am.
December 11, 2014
16:01 EDTCOptions Update; December 11, 2014
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13:40 EDTRBS, UBS, DB, BCSEuro zone banks accepted $160B in low interest loans, NY Times says
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10:17 EDTJPM, BCS, DB, CFINRA fines Barclays Capital, Citigroup Global Markets, others $43.5M total
FINRA announced that it has fined 10 firms a total of $43.5M for allowing their equity research analysts to solicit investment banking business and for offering favorable research coverage in connection with the 2010 planned initial public offering of Toys"R"Us. FINRA fined the following firms. Barclays Capital (BCS) - $5M; Citigroup Global Markets (C) – $ 5M; Credit Suisse Securities (CS) – $5M; Goldman, Sachs & Co. (CS) – $5M; JP Morgan Securities LLC (JPM) – $5M; Deutsche Bank Securities Inc. (DB) – $4M; Merrill Lynch, Pierce, Fenner & Smith Inc. (BAC) – $4M; Morgan Stanley & Co., LLC (MS) – $4M; Wells Fargo Securities, LLC (WFC) – $4M; Needham & Company LLC – $2.5M. In addition, FINRA found that six of the 10 firms — Barclays, Citigroup, Credit Suisse, Goldman Sachs, JP Morgan and Needham — had inadequate supervisory procedures related to research analyst participation in investment banking pitches. Toys"R"Us and its sponsors offered each of the 10 firms various roles in the IPO but it eventually decided not to proceed with the offering. In settling this matter, the 10 firms neither admitted nor denied the charges, but consented to the entry of FINRA's findings.
10:13 EDTJPMOn The Fly: Analyst Upgrade Summary
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09:37 EDTCActive equity options trading
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07:20 EDTJPM, JPMJPMorgan upgraded to Outperform from Underperform at CLSA
CLSA upgrade JPMorgan to Outperform from Underperform. The analyst expects JPMorgan to benefit from progress in revenue efficiency, operating leverage and structurally lower credit costs. Additionally, CLSA believes the sum-of-the-parts valuation discount provides the possibility of a breakup or restructuring if the company does not succeed. Price target raised to $70 from $60.
06:40 EDTDB, BCSNY investigating Deutsche Bank, Barclays currency trading, Reuters reports
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December 10, 2014
14:18 EDTJPMJPMorgan leads banks lower, levels to watch
The shares are down over 2.5% to $60.94. At that price next major support is at $59.83, the last price for the 50-day moving average. Resistance is at $61.31.
12:24 EDTJPM, COn The Fly: Midday Wrap
Stocks on Wall Street opened in negative territory and have remained there throughout the morning. The averages have moved in a narrow range as the price of crude continues to fall. Near noon, WTI crude was down another 5% to roughly $60 per barrel. The weakness is effecting equities, as investors are concerned the oil price weakness is indicative of the slowing global economy. ECONOMIC EVENTS: In the U.S., House and Senate lawmakers reportedly reached a deal on a nearly $1.1T bill to fund most of the government through September and avert a shutdown. The EIA estimated crude oil supplies grew 1.5 Mmbbls last week, while consensus expected a 2.7 Mmbbls decrease. The Treasury budget statement for November is expected at 2:00 pm ET, with the consensus expectation for a deficit of $63B. COMPANY NEWS: Shares of JPMorgan (JPM) declined 2% after guidelines proposed yesterday by the Federal Reserve would likely result in the firm managing to a higher capital buffer. Additionally, JPMorgan CFO Marianne Lake, speaking earlier at a Goldman Sachs conference, said the bank sees its Q4 reported markets revenues down by a "high teens" percentage and that its "core" markets performance in Q4, excluding the sale of physical commodities and allocation of preferred dividend expense, is indicated down 4% to-date compared to last year's quarter. Lake became the latest bank executive to discuss a Q4 trading slump, after Bank of America (BAC) CEO Brian Moynihan, speaking yesterday at the same financial conference, said the bank expects its Q4 trading revenue to be down on both a linked-quarter and year-over-year basis. Also yesterday, Citigroup (C) CEO Michael Corbat estimated that the bank's Q4 markets revenue would be down year-over-year by about 5%. MAJOR MOVERS: Among the notable gainers was Analogic (ALOG), which rose 12% after the company reported better than expected quarterly earnings. Also higher was Novadaq (NVDQ), which gained 11.5% after the company signed a multi-year distributor agreement with LifeNet Health that analysts at Canaccord said could potentially be a big deal and materially help its near and long-term prospects. Among the noteworthy losers was Yum! Brands (YUM), which dropped nearly 5% after the owner of the KFC, Pizza Hut and Taco Bell brands issued a negative preannouncement on its China business and provided lower than expected 2015 EPS guidance. Also lower were shares of Krispy Kreme (KKD), which sunk 8% after the donut maker reported weaker than expected earnings and revenue. INDEXES: Near midday, the Dow was down 164.41, or 0.92%, to 17,636.79, the Nasdaq was down 32.79, or 0.69%, to 4,733.68, and the S&P 500 was down 17.43, or 0.85%, to 2,042.39.
11:03 EDTJPM, CJPMorgan drops 2% after CFO talks down Q4 numbers
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10:00 EDTCCitigroup management to meet with Oppenheimer
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08:45 EDTRBSRBS to exit bond trading in Japan, WSJ reports
Royal Bank of Scotland Group plans to give up its primary dealership in the Japanese government bond market early next year as part of the bank’s strategy to scale back its fixed-income businesses due to increasing regulatory costs, said The Wall Street Journal, citing a person familiar with the matter. The move will likely result in "sizable" job cuts, the report added. Reference Link
07:43 EDTCCitigroup charges will likely lead to break-even quarter, says UBS
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06:17 EDTJPMJPMorgan faces $22B capital hole under new Fed rules, Financial Times says
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December 9, 2014
16:00 EDTCOptions Update; December 9, 2014
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14:57 EDTC, JPMFed to propose rulemaking on risk-based capital surcharges for GSIB banks
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14:42 EDTJPM, CFed sees setting capital surcharge up to 4.5% for big U.S. banks, Bloomberg says
Bloomberg cites surcharge estimates in Federal Reserve staff memo. 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).
11:08 EDTCCitigroup falls, levels to watch
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10:51 EDTCCitigroup sees incurring legal, related charges of approx. $2.7B in Q4
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10:39 EDTCCitigroup expects to see heightened periods of volatility
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10:27 EDTCCitigroup CEO says big things that remain are ForEx, Libor and AMC and process
10:27 EDTCCitigroup says leverage ratio is not binding constraint for company
10:13 EDTCCitigroup CEO sees $2.7B charges in Q4 to address legal reserve charges
CEO Michael Corbat said that after taking the charges in Q4, the company will be "marginally profitable." Comments taken from Goldman Sachs Financial Services conference.
10:10 EDTCCitigroup to take $3.5B in additional charges in Q4, CNBC reports
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09:38 EDTCActive equity options trading
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08:24 EDTCCitigroup to sell Japanese consumer unit to Sumitomo Mitsui, Bloomberg says
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05:59 EDTCCitigroup appointed successor depositary bank for Deutsche Post ADR program
Citi (C), acting through Citibank N.A., has been appointed by Deutsche Post AG (DPSGY) as successor depositary bank for its Level 1 American Depositary Receipt, or ADR, program. Deutsche Post DHL’s ADR program trades in the U.S. over the counter market, with each ordinary share equivalent to 1 ADR.
December 8, 2014
16:55 EDTCLone Star joins Springleaf as bidder for Citigroup OneMain unit, Bloomberg says
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16:00 EDTCOptions Update; December 8, 2014
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15:40 EDTCLone Star joins Springleaf as bidder for Citigroup OneMain unit, Bloomberg says
15:26 EDTDBDeutsche Bank sued by U.S. over alleged scheme to avoid income taxes
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15:10 EDTDBDOJ files suit against Deutsche Bank over income tax avoidance, Bloomberg says
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10:00 EDTDBOn The Fly: Analyst Downgrade Summary
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08:40 EDTDBDeutsche Bank and Cisco to host a conference call
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07:56 EDTRBSRBS asks Credit Suisse, others for Coutts bids by Christmas, Reuters says
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06:35 EDTC, JPMValue of Wall Street's M&A bankers has risen, NY Times says
The value of Wall Street's bankers who advise large companies seems to be increasing, while traders are becoming less valuable, according to The New York Times. Bankers who work on M&A deals are expecting their bonuses to increase, while traders anticipate that their compensation will drop, the newspaper added. Furthermore, banks seem to be going the extra mile to hire top notch bankers, the newspaper stated. Publicly traded large banks 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
06:21 EDTC, BCS, JPMDeadline for Petsmart bidders extended as lenders put on leash, NY Post reports
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06:00 EDTDBDeutsche Bank downgraded to Underperform from Market Perform at Keefe Bruyette
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