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Stock Market & Financial Investment News

News Breaks
January 3, 2014
10:00 EDTDL, BNS, EGP, SLF, MFC, CNO, BMO, FII, SBGI, FXEN, CM, TD, NXSTOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: Bank of Montreal (BMO) initiated with an Outperform at RBC Capital... Bank of Nova Scotia (BNS) initiated with an Outperform at RBC Capital... CIBC (CM) initiated with a Sector Perform at RBC Capital... CNO Financial (CNO) initiated with a Buy at Citigroup... China Distance Education (DL) assumed with an Overweight at Piper Jaffray... FX Energy (FXEN) initiated with a Buy at Roth Capital... LIN Media (LIN) initiated with an Outperform at Wedbush... Manulife Financial (MFC) initiated with an Outperform at RBC Capital... Nexstar (NXST) initiated with a Neutral at Wedbush... Sinclair Broadcast (SBGI) initiated with an Outperform at Wedbush... Sun Life Financial (SLF) initiated with a Sector Perform at RBC Capital... Toronto-Dominion (TD) initiated with an Outperform at RBC Capita... Federated Investors (FII) initiated with a Buy at Argus... EastGroup Properties (EGP) initiated with a Neutral at ISI Group.
News For BMO;BNS;CM;CNO;DL;FXEN;MFC;NXST;SBGI;SLF;TD;FII;EGP From The Last 14 Days
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March 27, 2015
07:17 EDTTDToronto-Dominion open to small U.S. buys to accelerate rollout, Reuters says
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06:03 EDTBMOBMO announces partnership with Shell Canada
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March 26, 2015
10:29 EDTSBGISinclair Broadcast launches Sinclair Digital Ventures
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07:22 EDTDLDeutsche Bank to hold a virtual conference
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March 23, 2015
07:15 EDTDLCredit Suisse to hold a conference
18th Annual Asian Investment Conference is being held in Hong Kong on March 23-27.
March 20, 2015
12:02 EDTFIIFederated Investors to acquire $91M in assets from Touchstone Ohio
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08:31 EDTFIIFederated Investors to acquire $91M in assets from Touchstone Ohio
Federated Investors and Touchstone Advisors have reached a definitive agreement regarding the acquisition by Federated of certain assets relating to Touchstone's management of the Touchstone Ohio Tax-Free Money Market Fund, a series of Touchstone Tax-Free Trust. In connection with the acquisition, approximately $91M in tax-free money market assets will be reorganized from the Touchstone Ohio Tax-Free Money Market Fund into Federated Ohio Municipal Cash Trust, a portfolio with a similar investment objective. Federated Ohio Municipal Cash Trust has approximately $391M in net assets and is a portfolio of the Federated Money Market Obligations Trust, which has approximately $184B in aggregate net assets. With approximately $19B in tax-free, state-specific money market assets under management, Federated offers more tax-free state money market products than any other investment manager. The reorganization is expected to be tax-free and is anticipated to be completed in the second quarter of 2015. Closing of the transaction is subject to shareholder approval and certain other contingencies.
March 19, 2015
08:24 EDTBNSCliffs Natural says Bank of Nova Scotia files lawsuit against company
Cliffs Natural (CLF) said in a filing that as previously disclosed, on January 27, the company announced that Bloom Lake General Partner Limited and certain of its affiliates, including Cliffs Québec Iron Mining ULC commenced restructuring proceedings in Montreal, Québec, under the Companies’ Creditors Arrangement Act. Certain obligations of the Bloom Lake Group, including equipment loans, are guaranteed by the Company. On March 16, The Bank of Nova Scotia (BNS) filed a lawsuit in the U.S. District Court for the Northern District of Ohio, Eastern Division, against the company, asserting that the company breached its obligations under a guaranty of certain equipment loans pursuant to a Master Loan and Security Agreement, dated September 27, 2013, among certain members of the Bloom Lake Group and Key Equipment Finance Inc.. BNS is seeking an award of $52.6M plus unpaid accrued interest and expenses. Among other defenses to this litigation, the company is current in its payment obligations under the Equipment Loans.
March 18, 2015
10:00 EDTFXENOn The Fly: Analyst Downgrade Summary
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05:33 EDTFXENFX Energy downgraded to In-Line from Outperform at Imperial Capital
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March 17, 2015
07:55 EDTFIIFederated Investors shares relatively overvalued, says Credit Suisse
Credit Suisse is cautious on Federated Investors and said shares embed an optimistic rate outlook and regulatory outcome. The analyst said a Fed rate increase will increase earnings but fee recovery could be less than expected and new MMF rules could significantly reduce prime MMF AuM. Shares are Underperform rated with a $34 price target.
March 16, 2015
16:03 EDTFXENFX Energy reports Q4 EPS (69c), may not compare to consensus (3c)
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09:17 EDTFIIFederated Investors announces exclusive agreement with Reich & Tang
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March 15, 2015
18:14 EDTSBGISinclair Broadcast could return to around $37, Barron's says
Sinclair Broadcast is trading at around a 25% discount to peers and shares could return to a previous high of around $37.00, Barron's argues in its 'The Trader' column. Reference Link

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