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Stock Market & Financial Investment News

News Breaks
March 26, 2014
18:04 EDTC, HSBC, RBS, SAN, ZIONFed objects to capital plans of Citigroup, four others
Citigroup (C) and four other banks had their capital plans rejected by the Federal Reserve. The capital plans of the North American units of three international banks, HSBC (HSBC) of Britain, Santander (SAN) of Spain, and Royal Bank of Scotland (RBS), were rejected along with Zions Bancorporation (ZION), as the firm did not meet the minimum, post-stress tier-1 common ratio of 5%. WHAT'S NEW: Twenty five of the thirty banks that underwent the Federal Reserve stress test passed. The Federal Reserve objected to the plans of Citigroup, HSBC, Santander, and Royal Bank of Scotland based on qualitative concerns, while rejecting Zions' plan because it did not meet a minimum post-stress capital requirement. Passing the stress test is critical for the banks to get approval for dividend raises and increased share repurchase plans. CITIGROUP: The Fed noted that Citigroup has made progress in improving general risk management and control over the pasty several years but added "its 2014 capital plan reflected a number of deficiencies in its capital planning practices, including in some areas that had been previously identified by supervisors as requiring attention." PRICE ACTION: Shares of Citigroup traded down almost 6% in the after-hours to $47.30, Banco Santander was lower by almost 1% to $9.08, HSBC Holdings was up fractionally to $50.57, The Royal Bank of Scotland Group was down 0.6% to $9.94 and Zions was unchanged at $30.20.
News For C;HSBC;RBS;SAN;ZION From The Last 14 Days
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July 14, 2014
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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07:05 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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July 13, 2014
20:31 EDTCCitigroup's $7B U.S settlement on mortgages expected Monday, Reuters says
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July 11, 2014
15:59 EDTCOptions Update; July 11, 2014
iPath S&P 500 VIX Short-Term Futures down 33c to 28.25. Option volume leaders: AAPL C GILD X FB GOOG AMZN TWTR TSLA according to Track Data.
15:44 EDTCCitigroup technical comments ahead of results
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15:28 EDTCCitigroup July 47 straddle priced for 2.8% move into Q2
12:12 EDTCCitigroup to host conference call
Management holds a 2Q Fixed Income Investor Review conference call on July 18 at 11 am. Webcast Link
11:31 EDTSANOptions with increasing implied volatility
Options with increasing implied volatility: INO AEGR UBNT INVN WTW OREX GNC CREE SD SAN
10:28 EDTCURS Corporation working with banks on potential sale, Reuters reports
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09:37 EDTCActive equity options trading on open
Active equity options trading on open according to Track Data: AAPL WFC C SUNE FB AMZN TSLA TWTR
07:20 EDTCBig banks seen losing reserve release cushion, Reuters says
Releasing loan-loss reserves has helped U.S. big banks weather a period of weak loan demand and lower fee income, but Q2 results from the banks may see less benefit from the practice as loss rates and reserves near their lower limits, said Reuters. Publicly traded companies in the space include Bank of America (BAC), Citigroup (C), Goldman Sachs (GS), JPMorgan (JPM), Morgan Stanley (MS), U.S. Bancorp (USB) and Wells Fargo (WFC). Reference Link
06:48 EDTRBSBank of England says banks' capital requirement could rise, Reuters reports
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