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Stock Market & Financial Investment News

News For MET;BLK;FCY;FNM;FRE;MTG;BAC;JPM;MS;BBT;AEG From The Last 14 Days
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September 23, 2014
15:33 EDTBACBofA announces $10B Catalytic Finance Initiaive, to committ $1B in capital
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10:33 EDTJPMWebster Financial to acquire HSA business from JPMorgan
Webster Financial (WBS), the holding company for Webster Bank, N.A., said that it had signed a definitive agreement to acquire the health savings account, or HSA, business from JPMorgan Chase Bank, N.A., a subsidiary of JPMorgan Chase (JPM). Under the agreement, approximately 700,000 accounts, including an estimated $1.3B in deposits and $175M in investments, will migrate from JPMorgan Chase Bank to HSA Bank, a division of Webster Bank, over a transitional period. In the near term, Webster will use approximately 60% of the deposits to pay down short-term borrowings with the remaining funds invested in securities. Transaction consideration will be all cash; the purchase price was not disclosed. Webster expects the transaction to be modestly accretive to earnings per share and return on equity in the first year following closing. The transaction is expected to improve Webster's loan-to-deposit ratio to approximately 80% from 87% pro forma at June 30. The company estimates the transaction will have tangible book value dilution of approximately 3%. JPMorgan Chase has advised Webster that the transaction is not expected to have a material impact on JPMorgan Chase's earnings.
10:02 EDTAEGOn The Fly: Analyst Upgrade Summary
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06:22 EDTMTGMGIC Investment management to meet with JMP Securities
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September 22, 2014
16:39 EDTAEGAEGON upgraded to Buy from Neutral at Goldman
10:00 EDTBACBank of America rallies, levels to watch
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06:11 EDTJPMEMC explores merger, holds talks with HP, Dell, WSJ reports
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September 20, 2014
19:48 EDTBACBank of America could climb over 50%, Barron's says
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September 19, 2014
16:00 EDTBACOptions Update; September 19, 2014
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September 18, 2014
16:00 EDTBACOptions Update; September 18, 2014
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14:08 EDTJPM, BAC, MSBanks look to high-interest personal loans to boost revenue, WSJ says
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05:31 EDTJPMVisa to undertake assessment of stake in Monitise
Visa (V) and Monitise entered into an alliance agreement in 2009. At the same time, Visa began investing in Monitise. Given the maturation of Monitise as a company, Visa is considering its options with respect to the investment and has engaged J.P. Morgan Securities (JPM) to assist. Visa will also be lessening its dependence on external mobile development resources. In 2009, in conjunction with its commercial partnership, Visa invested in Monitise as a 14.4% owner of the company in order to provide capital support to a leader in the evolution of the mobile payments sector. Over time, Visa’s holdings have been reduced to its current 5.5% stake in the company. This reduction in ownership and associated influence is consistent with Visa’s investment practice to seed emerging players and, over time, taper that influence as the partner company grows. Under their agreement, Monitise will provide Visa with mobile platform development services through 2016. As both Visa and the payments industry evolve at a rapid pace, Visa intends to continue increasing its investment in its own in-house capabilities and, as a result, reducing its use of external resources.
September 17, 2014
16:00 EDTBACOptions Update; September 17, 2014
iPath S&P 500 VIX Short-Term Futures down 24c to 27.63. Option volume leaders: AAPL TSLA BAC TWTR AMZN X WLT KO PBR according to Track Data.
14:41 EDTMETMetLife management to meet with Sterne Agee
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13:51 EDTJPMJPMorgan to replace some credit cards following Home Depot breach, Reuters says
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13:16 EDTMS, BAC, JPMHolder says DOJ looking to charge bank executives, Washington Post says
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07:39 EDTBLKMorningstar to hold a conference
Management Behind the Moat Conference to be held in Chicago on September 17-18.
07:37 EDTBLK, JPMMorningstar to hold a conference
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06:54 EDTBAC, JPMNY Attorney General announces NYC bank identity-theft ring takedown
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05:26 EDTAEGAEGON determines stock fraction interim dividend, announces 16.32M share buyback
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