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Stock Market & Financial Investment News

News Breaks
June 15, 2014
20:30 EDTBAC, CCitigroup, BofA may face lawsuits as DoJ negotiations stall, Bloomberg says
Citigroup (C) and Bank of America (BAC) may face lawsuits as the the U.S Justice Department ended talks on settling the investigation of mortgage-backed bond sales with the banks, says Bloomberg. The DoJ ended negotiations with the banks because it was not satisfied with the terms the banks' were offering, added Bloomberg. Reference Link
News For C;BAC From The Last 14 Days
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April 15, 2015
07:05 EDTBACBank of America reports Q1 provision for credit losses $765M
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07:04 EDTBACBank of America CEO says seeing 'encouraging' signs in consumer, client activity
“Continuing the trend from last quarter, we saw core loan and deposit growth, higher mortgage originations, and increased wealth management client balances," said CEO Brian Moynihan. “We retained a top position in investment banking as our team generated the highest advisory fees since the Merrill Lynch merger. We see continued encouraging signs in customer and client activity, with consumer spending increasing and utilization of credit by our commercial customers rising. This should bode well for the near-term economic outlook. At a time of continued low interest rates, we had good expense control as we focus on responsible growth with a balanced platform to create long-term value for customers and shareholders.” "We continued to strengthen an already strong and liquid balance sheet this quarter," said CFO Bruce Thompson. "We improved our liquidity, accreted capital and tightly managed expenses in a challenging interest rate environment. Meanwhile, credit quality remained strong, reflecting both the economic environment and our risk underwriting."
07:02 EDTBACBank of America reports Q1 EPS with items 27c, consensus 29c
Reports Q1 revenue $21.2B, consensus $21.5B. Results Include $1.0B, or 6c per share, in annual retirement-eligible incentive costs and $0.5B, or 3c per share, in charges to revenue for market-related net interest income adjustments.
06:11 EDTC, BACRegulators seek to end 'too big to fail' firms, WSJ reports
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April 14, 2015
18:41 EDTCTarget close to $20M settlement with MasterCard over data breach, WSJ says
According to people familiar with the negotiations, Target (TGT) is approaching a settlement with MasterCard (MA) to reimburse financial institutions roughly $20M for costs they incurred from the retailer’s massive data breach in 2013, The Wall Street Journal reports. Target is negotiating a separate settlement with Visa (V), according to sources, WSJ added. Reference Link
16:00 EDTCOptions Update; April 14, 2015
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15:34 EDTBACNotable companies reporting before tomorrow's open
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15:34 EDTBACBank of America April 16 straddle priced for 3.4% movement into Q1
14:38 EDTBACEarnings Watch: Bank of America to report after mixed reviews from Fed
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14:36 EDTBACBank of America technical comments ahead of earnings
The stock is trading up to resistance at the 50-day moving average, last at $15.95. Since November 2013, the stock has been trading in a range bound largely by $15 at the low and $18 at the high. A break of either end of the range would help guide where shares might trade thereafter. Failing news that is sufficiently bullish or bearish, we could expect the stock to trade in the same range until another catalyst emerges. On better news, resistance above current levels would be at $16.62, $17.22, and then at $18. If the news is more bearish than expected, a breakdown below $15 might be probable. In that event next support levels below $15 as downside objectives would be at $14.37 which is the 52-week low and then at $13.49 and $12.80.
10:35 EDTCCitigroup looks to sell retail FX operations, Reuters says
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07:58 EDTCCiti appoints Jamie Forese as sole president, WSJ reports
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07:35 EDTBACBank of America April volatility elevated into Q1 and outlook
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April 13, 2015
12:17 EDTCCiti's Bird to replace Medina-Mora, run global consumer bank, WSJ reports
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12:05 EDTCCiti's Bird to replace Medina-Mora, run global consumer bank, Bloomberg says
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09:24 EDTBACBank of America shares are cheap, says Morgan Stanley
Morgan Stanley said its sum of the parts of analysis of Overweight rated Bank of America indicates a value of $21. The firm said Bank of America's current share price implies no value for the wealth management division, which it values at $4.84 per share. Morgan Stanley said shares are cheap and recommends purchase.
07:19 EDTBACbloomberg to hold a summit
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April 10, 2015
09:57 EDTBACBank of America April volatility elevated into Q1 and outlook
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06:21 EDTBACBofA Merrill poaches JP Morgan's Brabazon for M&A group, Reuters reports
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06:11 EDTCCiti's head of franchise risk and strategy to retire, WSJ reports
Citigroup's head of franchise risk and strategy, Brian Leach, will retire as of April 30, The Wall Street Journal reports, citing memos from Leach and Citigroup CEO Michael Corbat. Mark Carawan, the bank's audit head, John Davidson, the bank's compliance head, and Chef Risk Offiver Brad Hu, will now report directly to Corbat. Reference Link
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