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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
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November 24, 2014
09:46 EDTCCitigroup Global Markets fined $15M by FINRA for supervisory failures
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09:39 EDTCActive equity options trading
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09:19 EDTBADefense Secretary Hagel said to be stepping down, NY Times reports
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07:07 EDTCBSStarz seeking about $5B to sell itself, NY Post reports
Talks to buy Starz (STRZA) are "heating up," according to The New York Post. The company is said to be seeking about $5B, and the company has drawn interest from CBS (CBS) and Lionsgate (LGF), sources are saying. Reference Link
07:01 EDTC, BACFed could further restrict banks' commodities businesses, NY Times says
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06:26 EDTBACFaith-based investors ask BofA to split chairman, CEO roles, WSJ reports
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November 21, 2014
10:00 EDTBLKOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Best Buy (BBY) upgraded to Outperform from Market Perform at Telsey Advisory... BlackRock (BLK) upgraded to Outperform from Market Perform at Bernstein... Cerner (CERN) upgraded to Outperform from Market Perform at Cowen... Community Health (CYH) upgraded to Outperform from Market Perform at Raymond James... Lockheed Martin (LMT) upgraded to Neutral from Sell at UBS... Teekay Offshore Partners (TOO) upgraded to Buy from Neutral at Citigroup... Trinity Industries (TRN) upgraded to Buy from Neutral at Longbow... Zebra Technologies (ZBRA) upgraded to Overweight from Neutral at JPMorgan... Ross Stores (ROST) upgraded to Hold from Sell at Maxim... St. Jude Medical (STJ) upgraded to Outperform from Market Perform at Cowen... Wolverine World Wide (WWW) upgraded to Buy from Neutral at DA Davidson... D.R. Horton (DHI) upgraded to Market Perform from Underperform at Raymond James... KB Home (KBH) upgraded to Market Perform from Underperform at Raymond James... Sony (SNE) upgraded to Overweight from Neutral at JPMorgan.
08:50 EDTBLKBlackRock upgraded at Bernstein
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07:24 EDTC, BACBB&T CEO says 'banks lending recklessly' again, Reuters reports
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07:01 EDTCBSNexstar to acquire Las Vegas CBS affiliate KLAS-TV for $145M
Nexstar Broadcasting Group (NXST) announced that it has entered into a definitive agreement to acquire the equity interests and assets of KLAS-TV, the CBS (CBS) affiliate serving the Las Vegas, Nevada market for $145M plus working capital from Landmark Media Enterprises, LLC. The proposed acquisition is expected to be immediately accretive to Nexstarís operating results immediately upon closing and inclusive of all other previously announced transactions, will expand the Companyís portfolio to 110 television stations serving 58 markets in 23 states, reaching approximately 20.3 million television households or 18% of U.S. television households. Nexstar intends to finance the station acquisition with cash generated from operations and borrowings under its senior credit facilities and/or additional capital markets activities. The transaction is subject to FCC approval and other customary approvals, and is expected to close in the first half of 2015. the acquisition, on a pro-forma basis, is expected to add an average of approximately 40c per share of free cash flow per year to Nexstarís operating results over the 2015/2016 period.
06:02 EDTWSMWilliams-Sonoma expands upholstered furniture manufacturing in three facilities
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05:44 EDTCBSCBS has upper-hand in dispute with DISH, says Piper Jaffray
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November 20, 2014
20:44 EDTWSMWilliams-Sonoma management to meet with William Blair
Meetings to be held on California on November 20-21 hosted by William Blair.
19:31 EDTBABoeing has no plans for long-range 737 MAX, Reuters reports
Boeing has no plans to extend the range of its upcoming 737 MAX 9 jetliner after Airbus Group's announcement that it will offer a long-range version of its competing A321 aircraft, according to Reuters, citing a senior Boeing executive. Reference Link
18:21 EDTCBSCBS consents to short term extension on DISH negotiations, Bloomberg says
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16:09 EDTBLKBlackRock upgraded to Outperform from Market Perform at Bernstein
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15:35 EDTBADelta Air Lines confirms order for 25 Airbus A350-900, 25 A330neo aircraft
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13:50 EDTBABoeing confirms Kuwait Airways intent to purchase 10 777-300ERs
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12:46 EDTWSMOn The Fly: Midday Wrap
Stocks on Wall Street were higher at midday despite disappointing purchasing managers' index readings in both China and Europe. The market took its early lead from Europe and opened lower, though the major averages moved into positive territory following a trio of better than expected domestic economic reports, as the leading economic indicators, Philadelphia Fed survey, and existing home sales all beat consensus forecasts. ECONOMIC EVENTS: In the U.S., initial jobless claims fell 2K to 291K in the week ended November 15, versus expectations for 280K first-time claims. The Consumer Prices Index was unchanged in October, versus expectations for a drop of 0.1%. The core CPI reading, which excludes food and energy, rose 0.2%, versus expectations for an increase of 0.1%. Markit's flash manufacturing PMI slipped 1.2 points to 54.7 in November, versus the consensus forecast for a 56.5 reading. Existing home sales rose 1.5% to a 5.26M rate in October, which beat expectations for a decline to a 5.15M unit rate. The index of leading indicators climbed 0.9% to 105.2 in October, beating expectations for a 0.5% increase. The Philadelphia Fed manufacturing index surged to 40.8 in November, easily topping the consensus expectation for a 18.0 reading. In Asia, the HSBC/Markit manufacturing PMI for China fell to a six-month low of 50.0 in the flash reading for November, which is down from a final reading of 50.4 in October and below the 50.3 consensus forecast. In Europe, Markit's flash eurozone PMI composite output index, which tracks surveys from both the manufacturing and services sectors, came in at 51.4 for November, which was down from 52.1 in October and represents the measure's lowest level in 16 months. COMPANY NEWS: Shares of Best Buy (BBY) advanced 7% after its third quarter profit beat estimates and it reported that its domestic same-store sales grew 3.2%. The electronics retailer also said the sales trends it is seeing as its enters the critical fourth quarter are "encouraging from a top-line perspective." MAJOR MOVERS: Among the notable gainers was Williams-Sonoma (WSM), which rose nearly 10% after the home goods retailer's third quarter results surpassed analystsí consensus estimates and the company raised its fiscal 2014 outlook. Also higher following its own "beat and raise" quarterly report was Kirkland's (KIRK), which advanced 18%. Among the noteworthy losers was Liquidity Services (LQDT), which dropped 9% after its fourth quarter earnings missed expectations and the company said it will no longer give yearly guidance. Also lower was Keurig Green Mountain (GMCR), which dropped 6% after its first quarter profit outlook fell short of analystsí consensus estimates and the company's Chief Financial Officer announced plans to depart. INDEXES: Near midday, the Dow was up 7.84, or 0.04%, to 17,693.57, the Nasdaq was up 22.08, or 0.47%, to 4,697.80, and the S&P 500 was up 3.01, or 0.15%, to 2,051.73.
12:19 EDTWSMWilliams-Sonoma hits 52-wk high after Q3 results beat estimates, raises outlook
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10:35 EDTWSMOptions with decreasing implied volatility
Options with decreasing implied volatility: DKS SPLS WB GMCR VRX HTZ WSM VIPS BBY AMAT
09:21 EDTWSMOn The Fly: Pre-market Movers
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07:44 EDTBADelta near deal for 50 Airbus wide-body jets, Bloomberg reports
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07:42 EDTCBSStudios looking abroad for opportunity in TV licensing, WSJ reports
For U.S. television studios, such as Time Warnerís (TWX) Warner Bros., licensing shows abroad, which was once a small side business, has become a much-needed source of growth and is increasingly needed to make shows profitable, reported The Wall Street Journal. In addition to Time Warner, CBS Corp. (CBS), Sony (SNE) and 21st Century Fox (FOXA) also see huge promise from international TV distribution, the report noted. Reference Link
07:23 EDTBACBoston Security Analysts Society to hold a conference
Sustainable Investing: Taking the Long View is being held in Boston on November 20.
07:21 EDTCCitigroup's OneMain could receive bids from Springleaf, Centerbridge, WSJ says
Springleaf Holdings (LEAF) and Centerbridge Partners are said to be considering separate bids for OneMain, Citigroup's (C) subprime lending business, The Wall Street Journal reports. The unit could fetch over $4B, a source says. Other sources say the sale process for OneMain is in the early stages and other bidders may emerge. Reference Link
07:11 EDTBLK, BACBofA/Merrill to hold a conference
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06:37 EDTCBSCBS, DISH share downside limited with blackout, says Citigroup
Citigroup sees limited share downside for both CBS (CBS) and DISH (DISH) should a blackout result in the companies not renewing their carriage agreement, which expires today. Citi notes shares of CBS are down 3% since the press started reporting about the tenuous negotiations. It estimates CBS' equity value could fall 2% with a blackout, thus it believes the impact is already priced in. Further, Citi sees a minimal impact to DISH from a potential CBS blackout. The firm keeps Buy ratings on both stocks.
November 19, 2014
18:22 EDTWSMOn The Fly: After Hours Movers
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17:13 EDTBABoeing awarded $194.78M government contract modification
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16:14 EDTWSMWilliams-Sonoma up 5.9% after reporting Q3 results, guidance
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16:13 EDTWSMWilliams-Sonoma sees FY14 EPS $3.11-$3.19, consensus $3.18
Sees FY14 revenue $4.86B-$4.73B, consensus $4.7B. Sees FY14 comparable brand revenue up 10.2%-10.4%.
16:12 EDTWSMWilliams-Sonoma sees Q4 EPS $1.42-$1.50, consensus $1.53
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16:11 EDTWSMWilliams-Sonoma reports Q3 EPS 68c, consensus 63c
Reports Q3 revenue $1.14B, consensus $1.12B. Reports Q3 comparable brand revenue up 8.7%.
15:59 EDTCCitigroup latest bank to mull sale of index business, Reuters reports
Citigroup, amid increased regulatory scrutiny, is weighing a sale of its index business, said Reuters, citing two sources familiar with the situation. Reference Link
15:31 EDTWSMNotable companies reporting after market close
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14:49 EDTWSMWilliams-Sonoma technical comments ahead of earnings
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13:29 EDTWSMWilliams-Sonoma November 70 straddle priced for 6.4% move into Q3
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12:04 EDTWSMWilliams-Sonoma volatility elevated into Q3 and outlook
Williams-Sonoma November call option implied volatility is at 101, December is at 35, January is at 29; compared to its 26-week average of 25 according to Track Data, suggesting large near term price movement into the expected release of Q3 results today.
10:00 EDTNUSOn The Fly: Analyst Initiation Summary
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08:27 EDTCCiti cuts 35 capital markets jobs in London, Reuters reports
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07:51 EDTC, BACClearing House Payments Company to hold a conference
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07:37 EDTCCitigroup to hold a conference
Global Financial Conference is being held in Singapore on November 19-20.
07:34 EDTABNYSSA to hold a forum
Fall 2014 ETP Trading & Investing Forum is being held in New York on November 19.
06:14 EDTNUSNu Skin initiated with a Neutral at BTIG
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November 18, 2014
13:25 EDTWSMWilliams-Sonoma volatility elevated into Q3 and outlook
Williams-Sonoma November call option implied volatility is at 77, December is at 33, January is at 27; compared to its 26-week average of 25 according to Track Data, suggesting large near term price movement into the expected release of Q3 results on November 19.
09:56 EDTCBSOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Allergan (AGN) downgraded to Market Perform from Outperform at William Blair... Wells Fargo (WFC) downgraded to Market Perform from Outperform at BMO Capital... Allergan downgraded to Neutral from Buy at Guggenheim... Allergan downgraded to Neutral from Buy at SunTrust... Basic Energy (BAS) downgraded to Neutral from Buy at SunTrust... CBS (CBS) downgraded to Neutral from Overweight at Atlantic Equities... Key Energy (KEG) downgraded to Neutral from Buy at SunTrust... Macy's (M) downgraded to Neutral from Buy at BofA/Merrill... Statoil (STO) downgraded to Neutral from Overweight at JPMorgan... Urban Outfitters (URBN) downgraded to Market Perform from Outperform at Telsey Advisory... Urban Outfitters downgraded to Market Perform from Outperform at William Blair... Urban Outfitters downgraded to Neutral from Overweight at Atlantic Equities... Baker Hughes (BHI) downgraded to Hold from Buy at Argus.... Precision Drilling (PDS) downgraded to Market Perform at Raymond James.
08:46 EDTCBSCBS downgraded at Atlantic Equities
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06:04 EDTCBSCBS downgraded to Neutral from Overweight at Atlantic Equities
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November 17, 2014
14:16 EDTCCitigroup reports October credit loss 2.18% vs. 2.53% last month
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10:15 EDTBACBank of America reports October default rate 2.81% vs. 2.93% last month
Reports October delinquency rate 1.94% vs. 1.92% last month.
05:12 EDTBABoeing signs agreement with Toray Industries for 777X wing composites
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November 14, 2014
17:27 EDTCBSPaulson & Co. gives quarterly update on stakes
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17:13 EDTCBSAppaloosa gives quarterly update on stakes
NEW STAKES: NXP Semiconductors (NXPI), Lorillard (LO), Alibaba (BABA), and Shire (SHPG). INCREASED STAKES: Whirlpool (WHR), Priceline (PCLN), Delta (DAL), CBS (CBS), and General Motors (GM). DECREASED STAKES: American Airlines (AAL), Disney (DIS), Apple (AAPL), MGM Resorts (MGM), and Eastman Chemical (EMN). LIQUIDATED STAKES: Expedia (EXPE), AIG (AIG), Prudential (PRU), Celanese (CE), and ASML Holding (ASML).
09:38 EDTCBSJANA Partners gives quarterly update on stakes
NEW STAKES: AMD (AMD), AECOM Technology (ACM), Alibaba (BABA), McDonald's (MCD), Amgen (AMGN), Gaming and Leisure Properties (GLPI), Iron Mountain (IRM), iRobot (IRBT), Seadrill Partners (SDLP), Valeant (VRX). INCREASED STAKES: eBay (EBAY), Charter (CHTR), Groupon (GRPN), HD Supply (HDS), Hertz (HTZ). DECREASED STAKES: Apache (APA). LIQUIDATED STAKES: CBS (CBS), Endo (ENDP), FMC Corporation (FMC), SeaWorld (SEAS), SunEdison (SUNE).
08:22 EDTABAllianceBernstein announces AUM at October 31, 2014 increased to $477B
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07:56 EDTWSMWilliams-Sonoma volatility elevated into Q3 and outlook
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November 13, 2014
13:12 EDTCBSGruss Capital reports 5.02% passive stake in CBS
12:52 EDTBABoeing reports 90 new orders since last update
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10:47 EDTCBSLionsgate and CBS Films announce multi-year film distribution partnership
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07:12 EDTBAOracle to hold a meeting
2014 OAGi Plenary Meeting is being held in Redwood City, California on November 13-14.
06:17 EDTCBSSony unveils PlayStation Vue, a cloud-based TV service
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November 12, 2014
16:23 EDTBAC, COn The Fly: Closing Wrap
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12:38 EDTBAC, COn The Fly: Midday Wrap
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10:43 EDTCBSBernstein downgrades Discovery, Viacom, citing 'structural decline' in TV
Research firm Bernstein sees strong evidence that audiences of ad-supported TV have entered a period of "structural decline." The firm cut its rating on Discovery (DISCA), the owner of the Discovery Channel and Animal Planet cable stations, and Viacom (VIA,VIAB), which owns MTV and and Nickelodeon. The firm also cut its price target on CBS (CBS). WHAT'S NEW: Noting that audiences for ad-supported TV have fallen by unprecedented amounts for four months, Bernstein analyst Todd Juenger added that consumption of subscription video on demand, or SVOD, services continue to grow. Meanwhile, TV networks are seeing increased competition from Internet websites for ad dollars, limiting the ability of the networks to raise ad prices, Juenger stated. The profit margins and return on investment of content owners are likely to decline over time, the analyst believes. He downgraded Discovery to Market Perform from Outperform and set a $37 price target on the stock, and cut Viacom to Underperform from Market Perform, placing a $71 price target on that stock. Juenger reduced his price target on CBS to $55 from $60 and kept a Market Perform rating on the shares. He kept Outperform ratings on 21st Century Fox (FOXA), Disney (DIS), and Time Warner (TWX), saying that those are least affected by the trend, as they are less dependent than their peers on the American TV ad market and have a large amount of sports programming. PRICE ACTION: In mid-morning trading, Discovery lost 0.6% to $31.81, Viacom class A shares gained 0.6% to $70.09, CBS fell 0.7% to $51.48, Twenty-First Century Fox class A shares lost 0.5% to $34.75, Time Warner fell 0.5% to $77.69 and Disney was flat near $90 per share.
10:14 EDTC, BACOCC fines Bank of America, Citigroup, JPMorgan $950M over FX trading
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10:07 EDTCCitigroup to pay $1.02B to settle foreign exchange investigations
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10:06 EDTCCitigroup announces foreign exchance settlements
09:37 EDTCLSN, CActive equity options trading
Active equity options trading according to Track Data: AAPL CLSN TWTR BABA NFLX TSLA AMZN CSIQ C
09:36 EDTBLKInformation Management Network to hold a symposium
Private Label RMBS Reform Symposium is being held in New York on November 12.
08:57 EDTCBarclays excluded from forex settlement due to issues with NYDFS, Reuters says
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08:13 EDTCBoston Biotech to hold a conference
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08:07 EDTCMacy's, Citi Retail Services renew card agreement
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07:48 EDTCBSWells Fargo to hold a conference
5th Annual Technology, Media & Telecom Conference is being held in New York on November 12-13.
07:28 EDTBAC, CBofA/Merrill to hold a conference
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07:10 EDTBAFly Leasing to sell 8 Boeing 757 aircraft
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06:50 EDTBLKBlackRock to reorganize sales force, Reuters reports
BlackRock is dividing its sales force into two groups: wirehouses and independent broker dealers, starting in January, according to Reuters, which cited a memo it obtained. The company also hired Lee Beck, a former managing director with J.P. Morgan Funds, to oversee sales to wirehouses, the news service stated. Reference Link
06:12 EDTCCFTC fines five banks $1.4B for manipulation of FX benchmark rates
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06:05 EDTCFCA fines five banks $1.7B over FX trading operations
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November 11, 2014
18:19 EDTCBSCBS, Disney look to block FCC Comcast merger disclosures, Bloomberg says
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14:30 EDTCBanks to be hit with billions in fines for currency manipulation, Telegraph says
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11:56 EDTBACAmerican Commercial weighs sale with value of over $1B, Financial Times says
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10:39 EDTNUSOptions with decreasing implied volatility
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09:37 EDTCActive equity options trading
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08:06 EDTCLSNCelsion reports Q3 EPS (35c), consensus (32c)
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07:14 EDTCJudge allows Citigroup to process next Argentina bond payout, Reuters reports
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06:59 EDTBACBank of America's head of FICC trading to retire by year-end, WSJ reports
Bank of America's head of global fixed income, currencies and commodities trading trading, David Sobotka, will retire by year-end, the Wall Street Journal reports, citing an internal memo sent to employees. Sobotka is planning to take some time off before deciding on his next steps. Sources say BofA will name Sobotka's replacement by the end of the year. Reference Link
November 10, 2014
07:12 EDTBACA Technologies to hold a conference
CA World 2014 is being held in Las Vegas on November 9-12.
07:11 EDTCBSOpen Mobile Media to hold a summit
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07:08 EDTAB, BLKCredit Suisse to hold a conference
2014 Boston Financials 1:1 Conference to be held in Boston on November 10-11.
06:53 EDTBACBank of America, U.S. Bancorp settle bond trustee class action, Reuters says
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06:46 EDTBAC, CRegulators set new capital buffer rule for banks, Reuters reports
Global banks should have buffers of bonds or equity worth 16%-20% of their risk-weighted assets, beginning in January 2019, The Financial Stability Board decided, according to Reuters. The board said the buffer would prevent the need for government bailouts, the news service explained. Publicly traded global banks include Bank of America (BAC), Citigroup (C), Goldman Sachs (GS), JPMorgan (JPM), Morgan Stanley (MS), U.S. Bancorp (USB) Wells Fargo (WFC), Banco Santander (SAN), Barclays (BCS), Credit Suisse (CS), Deutsche Bank (DB), HSBC (HSBC), ING Groep (ING), Lloyds Banking (LYG), RBS (RBS) and UBS (UBS). Reference Link
06:37 EDTCSumitomo Mitsui in lead for Citigroup's Japan retail operations, WSJ reports
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06:18 EDTCUBS to settle misconduct allegations at precious metals trading unit, FT reports
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05:29 EDTBABoeing, SMBC Aviation announce order for 80 737 MAXs
Boeing and SMBC Aviation Capital announced an order for 80 737 MAX 8s, valued at more than $8.5B at list prices. This is the largest single order for 737 MAXs from a leasing company and will help SMBC Aviation Capital grow its portfolio of high-demand, fuel-efficient airplanes. Boeing's Current Market Outlook forecasts that airlines will need more than 25,600 single-aisle airplanes like the 737 MAX over the next 20 years.
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