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Stock Market & Financial Investment News

News Breaks
May 22, 2014
11:32 EDTBKBNY Mellon set to sell stake in China JV, WSJ says
BNY Mellon is selling its stake in its joint venture fund management company in China, says the Wall Street Journal. The bank submitted a plan to China's securities regulator sell its 49% stake in BNY Mellon Western Fund Management Co., added the Wall Street Journal, citing a person familiar with the matter. Reference Link
News For BK From The Last 14 Days
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October 17, 2014
06:36 EDTBKBNY Mellon increasing high quality liquid assets in Q4
In Q4, BNY Mellon is continuing to reduce interbank placement assets and increasing its high quality liquid assets in the securities portfolio. The anticipated revenue as a result of these tactical actions should mitigate the impact on net interest revenue as a result of the European Central Bank's reduction in their deposit rate to negative, and the resulting impact on lower reinvestment rates across the euro yield curve; as well as, prolonged low reinvestment rates in the U.S.
06:34 EDTBKBNY Mellon reports Q3 EPS 93c, consensus 61c
Reports Q3 revenue $3.78B, consensus $3.98B. Reports Q3 book value per share $30.80. Reports Q3 Tier 1 capital ratio 15.8%. Reports Q3 AUM up 7% to $28.3T.
October 16, 2014
15:26 EDTBKNotable companies reporting before tomorrow's open
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October 7, 2014
12:17 EDTBKMBIA notified of 'huge data leak,' KrebsonSecurity reports
The IT security blog KrebsOnSecurity reported that on Monday it notified MBIA (MBI) that a misconfiguration in a company server exposed customer account numbers, balances and other sensitive data and that the company "quickly disabled" the vulnerable site after being notified about the breach. The blog noted that data from Cutwater Asset Management, a subsidiary slated to be acquired by BNY Mellon (BK), was impacted. Reference Link
09:17 EDTBKSecurities Industry & Financial Markets Association to hold a conference
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07:38 EDTBKBNY Mellon set up well into earnings after underperformance, says UBS
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October 6, 2014
08:23 EDTBKBNY Mellon confirms acquisition of Cutwater Asset from MBIA
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08:21 EDTBKMBIA agrees to sell Sutwater Holdings to BNY Mellon subsidiary
MBIA (MBI) announced that it has signed an agreement to sell its wholly-owned subsidiary Cutwater Holdings to a subsidiary of BNY Mellon (BK). The company currently conducts its asset management advisory services business through Cutwater. The sale is expected to close at the beginning of the first quarter of 2015, subject to regulatory approval and other customary closing conditions. The transaction is expected to have a positive but immaterial impact on the company’s financial position and results of operations. The company also announced that it received a $220M dividend from its wholly-owned subsidiary National Public Finance Guarantee Corporation on October 3, 2014.

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