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Stock Market & Financial Investment News

News Breaks
January 16, 2013
10:04 EDTMGM, HOT, DELL, AAPL, SXL, MJN, ING, ARMH, YELP, WFC, SXE, LYG, ETE, BUD, HCN, BXP, VOD, SNH, NRGY, LSEOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: AB InBev (BUD) downgraded to Reduce from Neutral at Nomura... ARM Holdings (ARMH) downgraded to Neutral from Buy at UBS... CapLease (LSE) downgraded to Market Perform from Outperform at FBR Capital... Energy Transfer Equity (ETE) downgraded to Neutral from Outperform at RW Baird... ING Group (ING) downgraded to Underperform from Neutral at Macquarie... Inergy, L.P. (NRGY) downgraded to Neutral from Outperform at RW Baird... Lloyds Banking (LYG) downgraded to Underperform from Neutral at Macquarie... Mead Johnson (MJN) downgraded to Neutral from Outperform at Credit Suisse... Senior Housing (SNH) downgraded to Market Perform from Outperform at Wells Fargo... Southcross Energy Partners (SXE) downgraded to Neutral from Outperform at RW Baird... Sunoco Logistics (SXL) downgraded to Neutral from Outperform at RW Baird... Vodafone (VOD) downgraded to Hold from Buy at Deutsche Bank... Wells Fargo (WFC) downgraded to Neutral from Overweight at Atlantic Equities... Apple (AAPL) downgraded to Sector Perform from Outperform at Pacific Crest... Boston Properties (BXP) downgraded to Neutral from Overweight at JPMorgan... Yelp (YELP) downgraded to Underperform from Market Perform at Northland Securities... Dell (DELL) downgraded to Hold from Buy at Argus... Health Care REIT (HCN) downgraded to Neutral from Overweight at JPMorgan... MGM Resorts (MGM) downgraded to Neutral from Buy at ISI Group... Starwood Hotels (HOT) downgraded to Neutral from Buy at ISI Group.
News For BUD;ARMH;LSE;ETE;ING;NRGY;LYG;MJN;SNH;SXE;SXL;VOD;WFC;AAPL;BXP;YELP;DELL;HCN;MGM;HOT From The Last 14 Days
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November 14, 2014
06:16 EDTAAPLEU says Starbucks tax deal in Netherlands may be illegal state aid, WSJ says
The European Union said the tax deal struck by Starbucks (SBUX) in the Netherlands amounts to illegal state aid, reports the Wall Street Journal. European Commission regulators said it reached a preliminary view that the tax deal violated guidelines produced by the Organization for Economic Cooperation and Development. It said the tax deal "tolerates questionable adjustments which allow Starbucks Manufacturing BV to lower the resulting corporate income tax basis in the Netherlands." The EU is also investigating tax arrangements of Apple (AAPL) in Ireland and Amazon (AMZN) and Fiat S.p.A. (FIATY) in Luxembourg. Reference Link
November 13, 2014
17:35 EDTWFCOcwen unit signs mutual termination agreement with Wells Fargo
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17:32 EDTWFCWells Fargo, Ocwen agree to cancel sale of mortgage servicing rights
Wells Fargo & Co. (WFC) announced that its subsidiary, Wells Fargo Bank, N.A., and Ocwen Loan Servicing have mutually decided to cancel a previously announced sale to Ocwen of certain Wells Fargo residential mortgage servicing rights. Cancelation of the transaction is not expected to be material to Wells Fargo’s consolidated financial results.
16:03 EDTAAPLOptions Update; November 13, 2014
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14:05 EDTMGMNew Jersey reports Atlantic City gaming win down 4.4% to $207.23M
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13:28 EDTAAPLBlackBerry hits 52-week high after unveiling partnerships
Shares of BlackBerry (BBRY) hit a new 52-week high after the company announced three new partnership deals. The company is slated to hold its analyst day today, starting at 3:30 PM ET. WHAT'S NEW: BlackBerry announced that it would partner with Samsung to provide a security solution for the South Korean company's mobile devices that utilize Google's (GOOG) Android operating system. Under the deal, BlackBerry’s BES12, an Enterprise Mobility Management system, or EMM that was launched today, will be integrated with some of Samgung's Galaxy smartphones and tablets. BES 12 "securely manages devices from all of the major enterprise mobile platforms" and "will help organizations securely connect employees with each other and with the corporate information and machines” they need, BlackBerry stated. Also today, Blackberry announced that it would connect its EMM solutions to Salesforce's (CRM) top customer relationship management platform. "This agreement will allow Salesforce and BlackBerry joint customers to run their businesses from their phone while complying with specific industry regulations," said Vivek Kundra, a Salesforce Executive Vice President in a statement. "BlackBerry has an excellent reputation in security and networks, and when matched with the Salesforce Customer Success Platform, public sector organizations can use their mobile devices to connect with customers in a whole new way," added Kundra. Finally, BlackBerry announced that Brightstar would distribute BES 12. BlackBerry described Brightstar as "the world's largest wireless distribution company and leader in services for the wireless industry." WHAT'S NOTABLE: BES12 is expected to compete with Apple (AAPL) in the enterprise space. Apple earlier this year announced that it was partnering with IBM (IBM) in an effort to sell more products to corporate customers. PRICE ACTION: In mid-afternoon trading, BlackBerry jumped 6% to $11.95. Earlier today the shares set a new 52-week high of $12.05.
12:53 EDTWFCWells Fargo sees Q4 mortgage originations to decline from Q3
Expects Q4 mortgage originations to decline from Q3, reflecting normal seasonality in purchase market, while gain on sale margin is expected to remain within range of last four quarters. Expects to operate within targeted efficiency ratio range of 55%-59% in Q4. Wells Fargo said that while there is potential for continued net interest margin pressure, focus remains on growing net interest income over time. The comapny said it expects future reserve releases absent signification deterioration in the economy, but expect a lower level of future releases as the rate of improvement in credit loans and loan portfolio grows. Expects share count to continue to decline in Q4 as result of anticipated net share repurchases. Says mortgage business profitable and very pleased with that segment. Comments taken from slides for presentation at Bank of America Merrill Lynch Banking and Financial Services Conference.
11:13 EDTAAPLApple hits 52-week high after Bernstein says margins could climb
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10:05 EDTYELPFacebook quietly launches Yelp rival, TNW reports
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09:40 EDTAAPLActive equity options trading
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09:10 EDTINGING lowers Voya stake to 19% after selling 34.5M shares
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08:56 EDTMGMMacau to ask for eased restrictions on RMB conversion, Macau Business Daily says
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08:48 EDTINGING Group to lower stake in Voya Financial to 19% from 32.5% with offering
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08:45 EDTLYGLloyds Banking seen cutting 1,250 insurance jobs, Guardian reports
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08:33 EDTWFCWells Fargo sells federal student loans to Navient
Wells Fargo & Co. (WFC) Education Financial Services announced that Navient (NAVI) will purchase a principal balance of $8.5B of Federal Family Education Loan Program loans, which are included in Wells Fargo’s held-for-sale loan portfolio. Due to a change in federal law, Wells Fargo has not issued federal student loans since June 30, 2010. This sale supports Wells Fargo’s ongoing strategic focus on its private student lending business. “By selling these FFELP loans to Navient, Wells Fargo will be in a position to focus more on meeting the needs of our private student loan customers,” said John Rasmussen, head of Wells Fargo’s Education Financial Services. “We are deeply committed to the private student loan business because next to purchasing a home or saving for retirement, paying for an education is one of the most important financial events for our customers.” ). The sale is expected to close in a series of transactions, substantially all of which are expected to be completed in fourth quarter 2014, subject to customary closing conditions. Terms of the transaction were not disclosed and the sale is not material to Wells Fargo.
08:01 EDTAAPLApple price target raised to $120 from $110 at Bernstein
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08:01 EDTAAPLCalpian says deploys Apple Pay for merchants
Calpian, Inc. (CLPI) has successfully enabled Apple Pay (AAPL) for its merchant customers as they respond to growing consumer interest in the new mobile payment service.
06:39 EDTAAPLApple's rumored iPad Pro delayed to 2Q15, AppleInsider reports
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06:23 EDTAAPLChipmakers in Apple Watch supply chain to start production, DigiTimes reports
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06:07 EDTAAPLApple paying little in iTunes taxes outside North America, AFR reports
According to a report from The Australian Financial Review, which cites an investigation led by the International Consortium of Investigative Journalists, more than two-thirds of the money Apple’s iTunes makes outside North America goes through the group’s Luxembourg holding company where it is not taxable. Apple has been widely criticized for its tax practices in Europe. Reference Link
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