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Stock Market & Financial Investment News

News For BLK;MET;FCY;AEG;MTG;JPM;MS;BBT;BAC;FRE;FNM From The Last 14 Days
Check below for free stories on BLK;MET;FCY;AEG;MTG;JPM;MS;BBT;BAC;FRE;FNM the last two weeks.
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August 29, 2014
08:54 EDTMSMorgan Stanley filed plans for CNG export plant, Reuters says
Even as Morgan Stanley sells its physical oil business, the bank submitted an application to the U.S. Department of Energy in May to build and run one of the first U.S. compressed natural gas export facilities, according to Reuters. Reference Link
06:49 EDTJPMJPMorgan cyber attack said to occur over months, Bloomberg says
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06:31 EDTBACBofA aims to bypass $1.27B faulty mortgage case ruling, Reuters says
Bank of America asked U.S. District Judge Jed Rakoff to discard a jury ruling which found the company responsible for fraud regarding faulty mortgages sold by its Countrywide division, which ended in a $1.27B penalty payment, according to Reuters, citing comments from the bank's lawyer. Reference Link
August 28, 2014
16:00 EDTBACOptions Update; August 28, 2014
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08:12 EDTJPMJPMorgan says not seeing 'unusual fraud,' safeguarding information, WSJ reports
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05:55 EDTJPMHackers targeted JPMorgan Chase, 'at least' four other banks, NY Times reports
According to four sources, JPMorgan Chase and "at least" four others were targeted by hackers in a series of attacks this month, the New York Times reports. Hackers infiltrated the computer networks of some banks and stole checking and savings account information from clients, two separate sources say. Security experts and government officials say it is unclear whether Russian hackers are to blame for the attacks. Reference Link
August 27, 2014
15:37 EDTJPMFBI investigating whether Russia involved with JPMorgan hacking, Bloomberg says
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15:20 EDTJPMHackers stole data from JPMorgan, another U.S. bank this month, Bloomberg says
12:44 EDTMSDow Chemical looking to sell Angus Chemical, AgroFresh units, Reuters reports
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12:39 EDTMSDow Chemical looking to sell Angus Chemical, AgroFresh units, Reuters reports
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08:00 EDTMS, JPM, BACSEC seen completing rules on MBS detail disclosures, WSJ says
The Securities and Exchange Commission is expected to complete rules requiring banks and other financial institutions to give investors greater detail about the quality of mortgages and other loans pooled into bonds known as asset-backed securities, reported The Wall Street Journal. Publicly traded big U.S 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
06:58 EDTMSMorgan Stanley wins $15M arbitration suit vs. Schwab, Reuters says
A Financial Regulatory Authority arbitration panel in San Francisco ruled that Morgan Stanley (MS) won a $15M arbitration lawsuit against Charles Schwab (SCHW), who accused the bank of unlawfully recruiting brokers from a Schwab San Francisco division that left with confidential data, according to Reuters, citing comments from a Charles Schwab spokesman. The ruling ended a disagreement which had lasted two years. Reference Link
06:31 EDTBACCFTC orders Merrill Lynch to pay $1.2M fine for supervision failures
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August 26, 2014
08:30 EDTMSConcerns about payment disintermediation overdone, says Pacific Crest
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August 25, 2014
16:00 EDTBACOptions Update; August 25, 2014
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August 22, 2014
11:17 EDTBACOptions Update; August 22, 2014
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07:42 EDTBACBank of America DOJ settlment removes a major overhang, says Morgan Stanley
Morgan Stanley lowered Bank of America's Q3 EPS estimate to (4c) from 34c based on the DOJ settlement and said it removes a major overhang. The firm views shares as cheap and expects the stock to rally as expenses continue to declines. Shares are Overweight rated with a $22 price target.
August 21, 2014
15:37 EDTBACBank of America reiterated as an Overweight at Morgan Stanley
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15:25 EDTBACBank of America rallies following DOJ/State AGs settlement news
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12:50 EDTMSDeutsche Bank divests natgas trading book to Morgan Stanley, Reuters says
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10:34 EDTBACOptions Update; August 21, 2014
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09:37 EDTBACActive equity options trading on open
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09:20 EDTBACBank of America volatility expected to move on $16.65B settlement with DOJ
Bank of America volatility is expected to move on paying a $16.65B settlement with DOJ. Overall option implied volatility of 21 is below its 26-week average of 23 according to Track Data, suggesting decreasing price movement.
09:11 EDTBACSEC says Bank of America settles two cases
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09:09 EDTBACBofA settlement to reduce Q3 pre-tax earnings by approx. 43c per share after tax
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09:09 EDTBACBofA to pay $9.65B in cash, $7B worth of consumer relief in settlement
Borrower relief will be in the form of mortgage modifications, including first-lien principal and forbearance forgiveness and second-lien extinguishments, low- to moderate-income mortgage originations, and community reinvestment and neighborhood stabilization efforts, with initiatives focused on communities experiencing, or at risk of, urban blight. This includes lien releases, uninhabitable and abandoned property demolition, and remediation and property donations. Also, Bank of America will support the expansion of available affordable rental housing. Bank of America has committed to complete delivery of the relief by no later than August 31, 2018. The consumer relief will be subject to oversight by an independent monitor.
09:07 EDTBACBofA to pay $16.65B in settlement with DOJ, state AGs
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09:03 EDTBACBank of America to pay $16.65B in settlement with DOJ, Bloomberg reports
08:41 EDTBACBank of America, DOJ settlement to be announced today, CNBC reports
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08:31 EDTJPM, MSMorgan Stanley, JP Morgan selected by Shake Shack to lead IPO, Reuters says
JP Morgan (JPM) and Morgan Stanley (MS) have been picked by Shake Shack to lead the fast-food restaurant chain's IPO, sources tell Reuters. The offering could come as early as this year. Reference Link
06:43 EDTJPM, BAC, MSRegulators up bank warning efforts for poor risk assessment, Reuters says
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August 20, 2014
18:29 EDTJPM, MS, BACBofA, JPMorgan weigh plans to raise salaries for junior bankers, Bloomberg says
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17:12 EDTMET, BACOn The Fly: Closing Wrap
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14:39 EDTMETMetLife nearing 'systemically important' designation, WSJ reports
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14:35 EDTBACBofA reaches $17B settlement over mortgage backed securities sales, AP says
Bank of America along with federal and state authorities agreed upon a $17B settlement for the bank in connection with the sale of mortgage-backed securities in the run-up to the 2008 financial crisis, says AP. Reference Link
14:20 EDTBACBofA reaches $17B settlement over mortgage backed securities sales, AP says
08:38 EDTBACRevolution Lighting enters loan, security agreement with BofA
Revolution Lighting (RVLT) announced that it has entered into a three year loan and security agreement with Bank of America (BAC). The agreement allows Revolution Lighting to borrow up to $25M on a revolving basis. Borrowings under the agreement are determined on specified percentages of eligible receivables and inventory, and bear interest either on the base rate plus specified margins or at LIBOR plus specified margins, at the election of Revolution Lighting. The loan provides Revolution Lighting with favorable interest rates with an initial interest rate of 3%. The agreement contains customary covenants and restrictions typical of these agreements.
August 19, 2014
06:20 EDTBACBofA COO transfers, senior manager assumes role, Bloomberg says
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