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Stock Market & Financial Investment News

News Breaks
June 10, 2014
08:23 EDTBS, COF, PNC, CSSIFMA-TCH to hold a conference
Prudential Bank Regulation Conference to be held at the National Press Club on June 10.
News For BS;COF;PNC;CS From The Last 14 Days
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October 16, 2014
14:09 EDTCOFApple confirms October 20 start date for Apple Pay
Apple (AAPL) announced that customers can start making payments on Monday, October 20, when Apple Pay becomes available in the U.S. Users of the iPad Air 2 and iPad mini 3 will be able to use Touch ID on their devices for Apple Pay within apps. The new service will be enabled by a free software update to iOS 8. Apple Pay supports credit and debit cards from the three major payment networks: American Express (AXP), MasterCard (MA) and Visa (V). In addition to American Express, Bank of America (BAC), Capital One Bank (COF), Chase (JPM), Citi (C), Wells Fargo (WFC) and others, who announced support in September, more than 500 new banks from across the country have signed on to Apple Pay, the company said.
07:23 EDTCSHart Energy to hold a conference
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06:50 EDTCSEuropean regulator rejects bonus loophole, NY Times says
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October 15, 2014
11:04 EDTPNCPNC Financial sees reserve releases continuing, but not likely at current level
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10:30 EDTPNCPNC Financial says U.S. economy feels 'very strong,' 'resilient'
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10:20 EDTPNCPNC Financial sees 'challenging' revenue environment until rates rise
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08:57 EDTCOFCapital One reports September charge-off rate 2.79% vs. 2.81% last month
Reports September delinquency rate 3.21% vs. 3.08% last month.
07:55 EDTPNCPNC Financial sees Q4 net interest income down modestly vs. Q3
Sees modest growth in loans in Q4 vs. Q3. Sees "stable" fee income in Q4 vs. Q3. Sees Q4 noninterest expense up low single digits vs. Q3. Sees Q4 loan loss provision $25M-$75M. Comments from slides that will be presented on the Q3 earnings conference call.
06:47 EDTPNCPNC Financial reports Q3 retail banking net interest income $985M
Retail Banking earnings for Q3 decreased compared with Q2 and increased compared with 3Q13. Noninterest income included strong customer-related fee income growth in both comparisons primarily resulting from changes in product offerings and increases in customer-initiated transactions. Noninterest income also reflected gains on sales of Visa Class B common shares of $57M in Q3, $54M in Q2 and $85M in 3Q13. Provision for credit losses increased compared with the linked quarter as credit quality improved at a slower pace in Q3 compared with Q2. The provision decreased compared with 3Q13 driven by improved credit quality in the consumer and commercial loan portfolios as net charge-offs and delinquencies declined.
06:43 EDTPNCPNC Financial reports Q3 EPS $1.79, consensus $1.71
Reports Q3 revenue $3.84B, consensus $3.8B. Reports Q3 Basel III Tier 1 capital ratio 10.1%. Reports Q3 book value per share $76.71. Reports Q3 net charge offs 0.16%. PNC continued to execute on its strategic priorities as reflected in the results for the third quarter which included strong fee income, well-controlled expenses and overall credit quality improvement. Net interest income of $2.1B in Q3 decreased $25M, or 1%, compared with Q2 due to lower earning asset yields, lower investment securities balances and the impact of increasing the company's liquidity position.
October 14, 2014
15:40 EDTPNCPNC Financial October 82 straddle priced for 3% move into Q3
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15:29 EDTPNCNotable companies reporting before tomorrow's open
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09:13 EDTCOFCapital One October volatility elevated into Q3 and outlook
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October 13, 2014
08:45 EDTPNCPNC Financial October volatility elevated into Q3 and outlook
PNC Financial October call option implied volatility is at 33, November is at 23, January is at 19; compared to its 26-week average of 18 according to Track Data, suggesting large near term price movement into the expected release of Q3 results on October 16.
07:19 EDTCOFAmEx, Capital One profits seen boosted by credit card 'sweet spot,' WSJ says
Credit card players such as American Express (AXP) and Capital One (COF), as well as banks with significant card units like JPMorgan (JPM), stand to benefit from the U.S. card industry's "sweet spot" of moderate economic growth, low interest rates and consumers who are better managing payments while growing their spending, said The Wall Street Journal, which noted that consulting firm R.K. Hammer estimates U.S. card issuers' revenue will grow 9% this year to $158.6B. Other U.S. banks with credit card units include Bank of America (BAC), Citigroup (C), and Wells Fargo (WFC) and other card companies include Visa (V) and MasterCard (MA). Reference Link
00:04 EDTCOFBanking regulators want more disclosure on auto loans, Reuters says
Banking regulators are requesting that banks provide more details on their auto loan portfolios, says Reuters. Balances remaining on auto loans are rising and about a fifth of the loans are subprime, added Reuters. Publicly traded companies in the space include Bank of America (BAC), Citigroup (C), Capital One (COF), JPMorgan (JPM), U.S. Bancorp (USB) and Wells Fargo (WFC). Reference Link
October 10, 2014
09:13 EDTCSEBA says EU stress test results to be published October 26
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October 9, 2014
09:33 EDTCOFCapital One recommended into Q3 earnigns at Goldman
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08:21 EDTCSGoldman, Credit Suisse invest in digital surveillance start-up, Bloomberg says
A group of banks, led by Goldman Sachs (GS) and Credit Suisse (CS), invested $24M in Digital Reasoning, a data analytics start-up whose CEO, Tim Estes, said the banks want a way to surveil millions of e-mails, instant messages, and transcripts of calls to spot suspicious behavior "when it happens, not in an investigation three years later. Reference Link
October 8, 2014
07:13 EDTCSBank dealers agree to revised derivatives rules, FT reports
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