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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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February 27, 2015
16:06 EDTCOptions Update; February 27, 2015
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10:45 EDTCBank of America falls after analyst warns of potential Fed test failure
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08:37 EDTCCiti likely to return 44% of 2015 earnings to shareholders, says Bernstein
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08:29 EDTDB, JPMJPMorgan, Deutsche Bank pause plans for $2B Argentina bond sale, WSJ says
Deutsche Bank (DB) and JP Morgan (JPM) have suspended plans to sell $2B of Argentinian bonds after a U.S. district judge ordered an emergency hearing on the potential sale, reports the Wall Street Journal, citing people familiar with the matter. The sources said the banks believed they had found a way to sell the bonds without being blocked by a prior U.S. court ruling.Reference Link
06:18 EDTBCS, DBBarclays likely to delay forex settlement, FT says
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February 26, 2015
16:00 EDTCOptions Update; February 26, 2015
iPath S&P 500 VIX Short-Term Futures down 33c to 27.78. Option volume leaders: AAPL TSLA TWTR C ZNGA MCD RIG NFLX according to Track Data.
15:02 EDTJPM, CFed extends capital surcharge for SiFi banks comment period to April 3
The Federal Reserve extended until April 3 the comment period for its proposed rule to implement capital surcharges for the largest, most systemically important U.S. bank holding companies. The Fed extended the comment period to allow interested persons more time to analyze the issues and prepare their comments. Originally, comments were due by March 2. The proposed rule would establish a methodology to identify whether a firm is a global systemically important banking organization and would also establish the size of a firm's risk-based capital surcharge. The proposal is designed to further strengthen the capital positions of these institutions. Large U.S. banks include Bank of America (BAC), Citi (C), Goldman Sachs (GS), JPMorgan (JPM), Morgan Stanley (MS), U.S. Bancorp (USB) and Wells Fargo (WFC).
14:01 EDTUBS, JPM, RBS, BCS, CBarclays 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
12:57 EDTRBSRBS to cut more than 1,000 jobs at U.S. trading unit, Bloomberg reports
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12:48 EDTDBDeutsche Bank co-CEO to stand trial in Germany, Reuters says
Deutsche Bank co-CEO Juergen Fitschen and four former Deutsche board members are set to stand trial in Munich on suspicions of giving misleading evidence during the Leo Kirch trial, reports Reuters, citing Der Spiegel magazine. Reference Link
11:29 EDTRBSRBS expects core UK/Irish businesses to perform well in 2015
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11:27 EDTRBSRBS intends to move towards capital target of 13% CET in 2015
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11:27 EDTRBSRBS reports FY14 operating profit of GBP 3.5B, compared to GBP 7.5B in 2013
This reflected improved operating results from the core domestic businesses together with significant impairment releases in Ulster Bank and RBS Capital Resolution. Reports 2014 Common Equity Tier 1 ratio of 11.2%. Reports it exceeded its 2014 cost reduction targets with savings of GBP 1.1B.
10:50 EDTC, JPMNew York regulator considering cybersecurity, cash laundering controls, WSJ says
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10:00 EDTDB, UBSOn The Fly: Analyst Initiation Summary
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10:00 EDTRBSOn The Fly: Analyst Downgrade SummaryStarz
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08:12 EDTRBSRBS downgraded to Underperform from Neutral at BofA/Merrill
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07:41 EDTRBSMizuho Financial Group acquires credit portfolio from RBS
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07:13 EDTUBSUBS to hold investor trip
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06:25 EDTRBSRBS to greatly reduce investment bank unit, Financial Times says
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06:15 EDTRBSRBS confirms Howard Davies to succeed Philip Hampton as chairman
Following its announcement on September 25 that Philip Hampton would leave The Royal Bank of Scotland Group during 2015, RBS announced that Howard Davies will succeed him as Chairman. Philip Hampton will step down as Director and Chairman of RBS with effect from August 31. Howard Davies will join the Board at the end of June and assume the role of Chairman from September 1. Howard is currently Chairman of Phoenix Group, a non-executive Director of Prudential plc, and a non-executive Director of Morgan Stanley. He will step down from Phoenix and Morgan Stanley. He will complete his work as Chairman of the UK Airports Commission before assuming the role of RBS Chairman and will retain his position at Prudential and as Professor of Practice at Sciences Po, Paris.
06:14 EDTRBSRBS announces sale of North American loan portfolio to Mizuho
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05:32 EDTDBDeutsche Bank initiated with an Underperform at Exane BNP Paribas
05:32 EDTUBSUBS initiated with an Underperform at Exane BNP Paribas
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February 25, 2015
17:36 EDTCCiti discloses money laundering inquiries, says fully cooperating
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13:34 EDTDB, JPMDeutsche Bank hires JPMorgan senior banker Jeff Urwin
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08:47 EDTJPMJPMorgan valuation discount overdone, says Goldman
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08:33 EDTJPMJPMorgan core franchise outlook positive, says Bernstein
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06:23 EDTJPMJPMorgan in talks with DOJ over auto loan pricing
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06:13 EDTJPMJPMorgan to close 300 bank branches over two years, AP reports
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06:07 EDTRBSRBS suspends two additional employees in forex investigation, Reuters says
RBS stated Wednesday it has suspended an additional two employees as part of its investigation into failures to stop foreign currency markets, reports Reuters, citing company statements. The bank had earlier suspended three employees and placed six into a "disciplinary process." Reference Link
February 24, 2015
16:06 EDTCOptions Update; February 24, 2015
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13:07 EDTUBS, RBS, BCS, DBEU 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
10:53 EDTJPMJPMorgan rises, levels to watch
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09:25 EDTJPMJPMorgan sees pro forma net income growing to about $30B over 3 year horizon
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09:11 EDTJPMJPMorgan CFO says will 'aggressively' manage G-SIB exposures
CFO Lake says may take at actions to reduce G-SIB buffer to 4% if required actions are accretive.
09:06 EDTJPMJPMorgan CFO says company seeks to raise dividends if approved
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09:01 EDTJPMJPMorgan expects legal costs to ease, but remain above pre-crisis levels
08:55 EDTJPMJPMorgan expect net charge offs to remain low at $4B+ in 2015
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07:49 EDTRBSRBS to downsize investment bank, Asia operations, Reuters says
RBS will transfer responsibility of its investment bank from Donald Workman to restructuring chief Rory Cullinan in order to scale back operations at the unit and largely pull out of Asia, reports Reuters, citing three sources. The bank is expected to announce downsizing in Asia to just 200 staff in Singapore, down from 2,800 in late 2014. Cullinan will also lead the banks exit from "several European markets," said the sources. Reference Link
07:21 EDTC, JPM, UBSSecurities Industry & Financial Markets Association to hold a conference
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06:36 EDTDBHP obtains ten year outsourcing deal from Deutsche Bank, Reuters reports
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06:15 EDTUBS, DB, JPM, 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
06:12 EDTJPMJPMorgan plans to charge fees for deposits from large clients, WSJ says
JPMorgan is planning to charge corporate clients, hedge funds, private-equity firms, and foreign banks for deposits due to regulatory rules that impose costs on holding money viewed as "prone to fleeing" during financial stress, reports the Wall Street Journal, citing an internal memo and people familiar with the plan. Clients will be asked to pay a fee or move funds to other products such as money-fund sweep accounts. Retail customers are unaffected. Reference Link
February 23, 2015
16:00 EDTCOptions Update; February 23, 2015
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13:33 EDTRBSRBS could name Howard Davies as chairman this week, FT reports
Royal Bank of Scotland (RBS) could name Howard Davies as its chairman as early as Thursday, when the bank reports its full-year results, the Financial Times reports. Davies is currently chairman of insurance business Phoenix Group and chairs Morgan Stanley's (MS) risk committee. Current RBS Chairman Philip Hampton is set to become GlaxoSmithKline's (GSK) chairman as early as this summer. Reference Link
11:08 EDTJPMJPMorgan weekly volatility elevated into investor day
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09:39 EDTCActive equity options trading on open
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08:57 EDTJPMJPMorgan to host investor day
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February 22, 2015
15:40 EDTDBU.S units of Deutsche Bank, Santander seen failing stress tests, WSJ says
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February 20, 2015
16:20 EDTCOn The Fly: Closing Wrap
Stocks on Wall Street opened in negative territory with time running out for Greece to reach an extension of its bailout agreement. The morning was filled with headlines from both Greek and eurozone finance leaders, many of which indicated that prospects for a deal looked grim. When reports surfaced that an agreement on an extension had been reached the Dow took off and hit its first new high of 2015. The S&P 500 followed to its own new high and the Nasdaq continued to close in on the 5,000 level. ECONOMIC EVENTS: In the U.S., Markit's flash PMI rose to 54.3 in February, versus the consensus forecast for a preliminary reading of 53.6 for the month. In Europe, the Eurogroup and Greece reached a tentative deal for an extension of the current EFSF Master Financial Assistance Facility Agreement for up to four months. The deal is predicated on Greek authorities presenting a first list of reform measures, based on the current arrangement, by the end of Monday. Also, the Eurozone flash composite PMI came in at 53.5, versus expectations for a reading of 53. The services PMI was better than expected, while the manufacturing PMI was lower than expected. COMPANY NEWS: Deere reported Q1 earnings per share of $1.12 and revenue of $6.38B, which beat consensus forecasts of 84c and $5.59B, respectively. However, Deere said company equipment sales are projected to decrease about 17% for fiscal 2015 and now sees net income to be about $1.8B, which is down from the company's prior net income outlook of $1.9B. Analysts at Wells Fargo calculate that the implied EPS guidance from Deere dropped to $5.25 from $5.50. Consensus for FY15 EPS prior to Deere's report was $5.51. Shares of the farm, construction and forestry equipment maker rose 72c, or 0.79%, to $92.43 following this morning's report. MAJOR MOVERS: Among the notable gainers was National Bank of Greece (NBG), whose shares trading in New York jumped 35c, or 21.74%, to $1.96 after the Greek aid extension deal was negotiated. Also higher was Springleaf (LEAF), which gained $4.40, or 12.88%, to $38.57 after Reuters reported that the company has beaten out rival bidders and is in advanced talks to buy consumer finance unit OneMain Financial from Citigroup (C) for more than $4B. Two stock that dropped after their earnings reports prompted multiple analyst downgrades were Noodles & Company (NDLS), which plunged $8.84, or 31.87%, to $18.90, and Rocket Fuel (FUEL), which fell $3.95, or 26.74%, to $10.82. INDEXES: The Dow rose 154.67, or 0.86%, to 18,140.44, the Nasdaq gained 31.27, or 0.63%, to 4,955.97, and the S&P 500 advanced 12.85, or 0.61%, to 2,110.30.
15:05 EDTCSpringleaf in lead to buy OneMain for over $4B, Reuters says
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14:18 EDTCSpringleaf in advanced talks to buy OneMain from Citi for over $4B, Reuter says
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10:47 EDTCNY AG says Santander Bank to adopt new policies regarding use of ChexSystems
New York Attorney General Eric T. Schneiderman announced that Santander Bank, N.A. (SAN) has agreed to adopt new policies governing its use of ChexSystems, a consumer-reporting agency that screens people seeking to open checking or savings accounts. Santanderís new policies are expected to allow thousands of additional New Yorkers and consumers nationwide to open bank accounts by September 30. The change comes amid concerns that screenings by ChexSystems and other consumer-reporting agencies, which are used by most of the nationís banks, adversely affect lower-income applicants and force them to turn to high-cost alternative financial services like check-cashing outlets. With this agreement, Santander now joins Capital One (COF) and Citibank (C) as the third bank to commit to overhaul its use of ChexSystems. The three banks operate a combined 613 branches across New York State and 2,822 branches nationwide.
08:54 EDTCCiti confirms retirement of global consumer banking head Manuel Medina-Mora
In a filing, Citigroup said that on February 18, Manuel Medina-Mora, Citiís Co-President and CEO, Global Consumer Banking, submitted a notice of retirement to Citi. The effective date of the retirement is June 1.
08:43 EDTCCiti's head of consumer banking set to retire in June, WSJ reports
Citigroup co-president and head of consumer banking, Manuel Medina-Mora, is planning to retire in June, The Wall Street Journal reports, citing memos sent by Medina-Mora and Citigroup CEO Michael Corbat. Medina-Mora is expected to stay with the bank as the non-executive chairman of Banamex. Citigroup plans to name a new head of the consumer bank "in the near future." Reference Link
06:03 EDTJPMAnn Inc. working with JPMorgan on potential sale, Bloomberg reports
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February 19, 2015
17:58 EDTJPMAnn Inc. working with JPMorgan on potential sale, Bloomberg says
14:21 EDTDB, UBS, BCS, RBSS&P reportedly says Greece contagion not a major risk, Reuters reports
The risk of contagion spreading from Greece to other European countries is not that large, a German newspaper quoted S&P's chief sovereign ratings officer as saying, according to Reuters. The euro zone would be able to handle an exit of the bloc by Greece, the ratings officer was quoted as saying, Reuters reported. Publicly traded European banks 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
06:47 EDTC, JPMReport shows subprime consumer loans at pre-2007 levels, WSJ says
Equifax (EFX) has released a report stating nearly 40%, or 50M, of auto loans, credit cards, and personal loans during the first 11 months of 2014 were made to subprime customers, the highest levels since the 2007 financial crisis, reports the Wall Street Journal. LendingTree (TREE) Chief Marketing Officer Gabriel Dalporto attributes the growth to nonbank lenders under less regulatory scrutiny than large banks. Publicly traded companies in the space include Bank of America (BAC), Citi (C), Goldman Sachs (GS), JPMorgan (JPM), Morgan Stanley (MS), U.S. Bancorp (USB) and Wells Fargo (WFC). Reference Link
06:04 EDTRBS, DB, UBS, BCSFCA to investigate investment and corporate banking
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February 18, 2015
09:37 EDTCOption volume leaders on open
Option volume leaders: AAPL TSLA TWTR CELG APO NFLX AXP APA LNKD C GILD according to Track Data.
09:16 EDTDBOcwen comments on Home Loan Servicing agreement with HSART Trust
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08:35 EDTDBHome Loan Servicing signs agreement with Deutsche Bank National Trust
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08:11 EDTCCiti announces $100b, 10-year commitment to finance sustainable growth
Citi announced a landmark commitment to lend, invest and facilitate a total of $100B within the next 10 years to finance activities that reduce the impacts of climate change and create environmental solutions that benefit people and communities. Citiís previous $50B goal was announced in 2007 and was met three years early in 2013. With this $100B initiative, Citi will build on its leadership in renewable energy and energy efficiency financing to engage with clients to identify opportunities to finance greenhouse gas reductions and resource efficiency in other sectors, such as sustainable transportation.
07:21 EDTC, JPMJPMorgan, Citi top government report of riskiest banks, Reuters reports
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07:15 EDTJPMPeterson Institute for International Economics to hold a discussion
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06:57 EDTJPMJPMorgan may shrink interest-rate trading, other units, Bloomberg says
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February 17, 2015
16:00 EDTCOptions Update; February 17, 2015
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14:01 EDTCCiti reports January credit loss 2.30% vs. 2.79% last month
Reports January delinquencies 1.61% vs. 1.56% last month.
10:46 EDTJPMJPMorgan reports January net credit losses 2.53% vs. 2.56% last month
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09:40 EDTCActive equity options trading on open
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08:04 EDTCWuXi PharmaTech enters into loan agreement with consortium led by Citi
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07:30 EDTUBSFrance requests testimony of UBS U.S. whistleblower, WSJ says
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06:39 EDTC, UBSBanks settle claims related to mortgage securities, Reuters says
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