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Stock Market & Financial Investment News

News Breaks
February 7, 2014
07:44 EDTBBT, CRegional banks avoid big mergers with piecemeal buys, Bloomberg reports
Looking at deals that fell apart during the financial crisis and increased regulatory reviews, regional U.S. banks are buying pieces of rivals to sidestep the problems of acquiring whole firms, reports Bloomberg. The strategy limits options for closely held banks looking to sell and slows takeovers that built today’s biggest lenders. BB&T (BBT), for example, agreed to buy 21 Texas branches from Citigroup (C) in December.
News For C;BBT From The Last 14 Days
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November 19, 2014
07:37 EDTCCitigroup to hold a conference
Global Financial Conference is being held in Singapore on November 19-20.
November 17, 2014
14:16 EDTCCitigroup reports October credit loss 2.18% vs. 2.53% last month
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November 12, 2014
16:23 EDTBBT, COn The Fly: Closing Wrap
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13:58 EDTBBTBB&T acquisition 3% accretive, says Wells Fargo
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12:38 EDTBBT, COn The Fly: Midday Wrap
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10:14 EDTCOCC 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
09:43 EDTBBTSusquehanna downgraded to Underperform at Boenning & Scattergood
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09:37 EDTCActive equity options trading
Active equity options trading according to Track Data: AAPL CLSN TWTR BABA NFLX TSLA AMZN CSIQ C
09:21 EDTBBTOn The Fly: Pre-market Movers
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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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07:53 EDTBBTBB&T to host conference call
Conference call to discuss acquisition of Susquehanna Bancshares will be held on November 12 at 8:30 am. Webcast Link
07:28 EDTCBofA/Merrill to hold a conference
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07:04 EDTBBTBB&T to acquire Susquehanna Bancshares for approximately $2.5B
BB&T (BBT) and Susquehanna (SUSQ) announced the signing of a definitive agreement under which BB&T will acquire Susquehanna in a cash and stock transaction for total consideration valued at approximately $2.5B.In connection with the acquisition, BB&T plans to establish three new banking regions encompassing certain markets in Pennsylvania and New Jersey. BB&T also plans to integrate its Baltimore region with Susquehanna's. These four regions are expected to be led by legacy Susquehanna executives. Under the terms of the agreement, which was approved by the boards of each company, shareholders of Susquehanna will receive as merger consideration 0.253 shares of BB&T common stock and $4.05 in cash for each share of Susquehanna common stock. The merger consideration is valued at $13.50 per share based on the average closing price of BB&T over the 45 trading days ending on November 10, 2014. BB&T expects to incur pre-tax merger and integration costs of approximately $250M and expects to achieve annual cost savings of approximately $160M. BB&T expects this acquisition to be accretive to earnings per share in the first full year excluding one-time charges and expects the transaction to exceed its IRR hurdle. This acquisition is subject to customary closing conditions including regulatory approvals and approval of Susquehanna shareholders.
07:02 EDTBBTBB&T to acquire Susquehanna Bancshares for approximately $2.5B
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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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