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Stock Market & Financial Investment News

News For C;BA;BAC;BLK;NUS;KSWS;CBS;CLSN;WSM;PWER;AB From The Last 14 Days
Check below for free stories on C;BA;BAC;BLK;NUS;KSWS;CBS;CLSN;WSM;PWER;AB the last two weeks.
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July 14, 2014
08:29 EDTBABoeing receives order from Okay Airways for 737 MAXs, Next-Generation 737s
Boeing and Okay Airways announced an order for six 737 MAX 8s and four Next-Generation 737-800s, valued at $980M at current list prices. Okay Airways, the first privately owned airline in China, will convert five 737-800s from a previous order into 737-900ERs.
08:05 EDTBAParker Aerospace partners with Rolls-Royce to support engines
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08:05 EDTCCitigroup reports Q2 Citi Holdings assets down 15% to $111B
Citi Holdings revenues in Q2 increased 33% versus the prior year period to $1.5B. Revenues in the second quarter 2014 included CVA/DVA of negative $1M compared to positive $15M in the prior year period. Excluding CVA/DVA, Citi Holdings revenues increased 35% to $1.5B primarily driven by the absence of repurchase reserve builds for representation and warranty claims in the current quarter, a higher level of gains on asset sales compared to the prior year and lower funding costs. As of the end of the quarter, total Citi Holdings assets were $111B, 15% below the prior year period, and represented approximately 6% of total Citigroup assets.
08:03 EDTCCitigroup reports Q2 Citicorp revenue $17.88B
Reports Q2 Citicorp revenues of $17.9B declined 8% from the prior year period. CVA/DVA, reported within ICG, was negative $32M in Q2, or negative $20M after-tax, compared to positive $462M, or $284M after-tax, in the prior year period. Excluding CVA/DVA, revenues were down 5% from Q213, reflecting declines in both GCB and ICG revenues of 3% and 7%, respectively. GCB revenues of $9.4B declined 3% from the prior year period, as lower U.S. mortgage refinancing activity, regulatory changes, repositioning actions in certain markets and the continued impact of spread compression globally more than offset the impact of the Best Buy portfolio acquisition and ongoing volume growth in most international businesses. ICG revenues declined 11% from the prior year period to $8.5B. Excluding the impact of CVA/DVA, revenues were $8.5B, 7% lower than the prior year period, primarily reflecting a decline in Fixed Income Markets and Equity Markets revenues, partially offset by higher Investment Banking revenues.
08:03 EDTCCitigroup CEO: Businesses showed resilience during uneven economic environment
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08:02 EDTCCitigroup reports Q2 allownace for loan losses $17.9B
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08:01 EDTCCitigroup reports Basel III Tier 1 Common ratio 10.6% at quarter end
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07:59 EDTCCitigroup reports Q2 EPS $1.24 ex-items, consensus $1.05
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07:45 EDTBABoeing anticipates F/A-18 fighter jets lasting through 2017, Reuters says
Boeing said it is projecting that it could continue manufacturing its F/A-18 and EA-18G fighter jets in St. Louis through the end of 2017, which is a year longer than anticipated, if Congress approved additional orders for 12 more aircrafts, according to Reuters, citing comments from president and CEO of Boeing Defense, Space & Security, Chris Chadwick. Chadwick said the firm was in talks with the U.S. Navy about overhauling the production schedule for jets already ordered, but noted that no final decisions have been made at the moment. Reference Link
07:40 EDTBABoeing aims for 737 higher-capacity model, Reuters says
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07:05 EDTCCitigroup to settle DOJ, FDIC claims for $7B
07:03 EDTCCitigroup CEO: Settlement in best interests of shareholders
07:02 EDTCCitigroup CEO says has resolved substantially all legacy RMBS, CDO litigation
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07:01 EDTCCitigroup to take charge of approximately $3.8B pre-tax in Q2
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07:01 EDTCCitigroup to settle DOJ, FDIC claims for $7B
Citigroup announced that it has reached an agreement to settle the ongoing investigation of the Residential Mortgage-Backed Securities Working Group, part of the Financial Fraud Enforcement Task Force. Today’s agreement resolves actual and potential civil claims by the U.S. Department of Justice, several state attorneys general and the Federal Deposit Insurance Corporation relating to RMBS and collateralized debt obligations (CDOs) issued, structured or underwritten by Citi between 2003 and 2008. Under the terms of the settlement, Citigroup will pay a total of $4.5B in cash and provide $2.5B in consumer relief. The cash portion consists of a $4 billion civil monetary payment to the DOJ and $500M in compensatory payments to the State AGs and the FDIC. The consumer relief will be in the form of financing provided for the construction and preservation of affordable multifamily rental housing, principal reduction and forbearance for residential loans, as well as other direct consumer benefits from various relief programs. Citigroup has agreed to provide the consumer relief by the end of 2018. Michael Corbat, CEO of Citigroup, said, “The comprehensive settlement announced today with the U.S. Department of Justice, state attorneys general, and the FDIC resolves all pending civil investigations related to our legacy RMBS and CDO underwriting, structuring and issuance activities. We also have now resolved substantially all of our legacy RMBS and CDO litigation. We believe that this settlement is in the best interests of our shareholders, and allows us to move forward and to focus on the future, not the past.”
07:00 EDTCCitigroup announces settlement with RMBS Working Group
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06:56 EDTCBSDisney, CBS, Discovery questioned over Comcast merger, Bloomberg says
Disney (DIS), Discovery (DISCA) and CBS (CBS) are being questioned by U.S. antitrust officials who are investigating Comcast's (CMCSA) planned purchase of Time Warner Cable (TWC), according to Bloomberg, citing three people familiar with the matter. Reference Link
06:50 EDTBAAirbus launches A330-800neo, A330-900neo
Airbus (EADSY) announced the A330-800neo and A330-900neo launched in July will reduce fuel consumption by a further 14% per seat compared with today’s A330. The company said that the A330neo will not only match the cash operating costs per seat of Boeing's (BA) 787, but also surpass it on direct operating costs per seat, and do so while offering an inch greater seat-width in economy class. The A330neo incorporates latest generation Rolls-Royce (RYCEY) Trent 7000 engines with a larger 112” diameter fan for a 10:1 bypass ratio, more seats and new cabin features. First deliveries of the newest A330 family members are scheduled to start in 4Q17. Reference Link
06:37 EDTBABoeing selected as preferred bidder for Monarch Airlines fleet replacement
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06:36 EDTBABoeing 'comfortable' with range amid Airbus overhaul plan, Reuters says
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