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Stock Market & Financial Investment News

News Breaks
February 11, 2013
19:29 EDTBKBNY Mellon will appeal U.S. Tax Court ruling
BNY Mellon issued the following statement in response to a ruling published by the U.S. Tax Court regarding the IRS's disallowance of certain foreign tax credits claimed for the 2001 and 2002 tax years: "We will appeal the court's decision. We continue to believe the tax treatment of the transaction was consistent with statutory and judicial authority existing at the time. As a result of the ruling, BNY Mellon expects to take an after-tax charge of approximately $850M during the first quarter of 2013. After taking the charge, the company expects it will continue to be well capitalized and its Basel III Tier 1 common equity ratio will be impacted by approximately 55 basis points. At December 31, 2012, our Basel III Tier 1 common equity ratio was 9.8%."
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July 28, 2014
06:48 EDTBKNASDAQ appoints BNY Mellon to provide U.S. Treasury clearing, custody
BNY Mellon (BK) has been appointed by NASDAQ OMX Clearing (NDAQ) to provide EMIR, or European Market Infrastructure Regulation, compliant clearing and custody services for U.S. Treasuries within the NASDAQ OMX Group's new European clearing business. The new mandate extends BNY Mellon's existing relationship with NASDAQ OMX - it was appointed by the exchange as a cash settlement bank in 2013 - and reinforces BNY Mellon's position as a leading custodial service provider to central counterparties, or CCPs. Both EMIR and the Dodd-Frank legislation in the U.S. mandate the migration of over-the-counter derivatives from bilateral clearance to CCPs.
July 23, 2014
14:35 EDTBKBNY Mellon price target raised to $45 from $40 at Argus
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July 18, 2014
06:36 EDTBKBNY Mellon reports Q2 EPS ex-items 62c, consensus 56c
Reports Q2 revenue $3.75B, consensus $3.77B. Reports Q2 book value per share $32.49. Reports Q2 Basel I CET1 ratio 13.2%. Reports Q2 Basel III CET1 ratio 10.4%. Reports Q2 asset servicing revenue up 3%, year-over-year. Reports Q2 AUC/A up 9% to $28.5T.
July 17, 2014
15:26 EDTBKNotable companies reporting before tomorrow's open
Notable companies reporting before tomorrow's market open, with earnings consensus, include General Electric (GE), consensus 39c; Honeywell (HON), consensus $1.36; Bank of New York Mellon (BK), consensus 56c; Johnson Controls (JCI), consensus 83c; V.F. Corporation (VFC), consensus 35c; Kansas City Southern (KSU), consensus $1.17; Autoliv (ALV), consensus $1.55.
July 16, 2014
15:54 EDTBKPeltz says 'not satisfied' with performance at Family Dollar
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