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Stock Market & Financial Investment News

News Breaks
March 26, 2014
18:04 EDTSAN, C, RBS, ZION, HSBCFed 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 1, 2015
07:57 EDTCU.S. banks not facing significant direct losses on Greek default, WSJ says
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June 30, 2015
10:00 EDTHSBCOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Abercrombie & Fitch (ANF) downgraded to Market Perform from Outperform at FBR Capital... Apollo Education (APOL) downgraded on enrollment uncertainty at BofA/Merrill... Flagstar Bancorp (FBC) downgraded to Hold from Buy at Sandler O'Neill... Global Brass and Copper (BRSS) downgraded to Hold from Buy at BB&T... HSBC (HSBC) downgraded to Neutral from Buy at Goldman... Herman Miller (MLHR) downgraded to Neutral at Longbow... NiSource (NI) downgraded on valuation, post spinoff outlook at Argus... Sysco (SYY) downgraded to Hold from Buy at Deutsche Bank... TCF Financial (TCB) downgraded to Hold from Buy at Sandler O'Neill.
June 29, 2015
19:23 EDTHSBCHSBC downgraded to Neutral from Buy at Goldman
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16:00 EDTCOptions Update; June 29, 2015
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June 28, 2015
19:04 EDTHSBCHSBC, Markit end marketing relationship, Reuters says
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June 26, 2015
10:00 EDTZIONOn The Fly: Analyst Upgrade Summary
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07:55 EDTHSBCHSBC hires Lilia Karboub to trade derivatives indexes in London, Bloomberg says
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07:28 EDTCKKR-backed Coffee Day plans $181M IPO in India, Bloomberg reports
Coffee Day Enterprises, which includes KKR (KKR) among its investors, plans to raise as much as $181M from an initial share sale in India, Bloomberg reports. Kotak Mahindra Capital, Citi (C), and Morgan Stanley (MS) are among the managers to the planned sale, the report says. Reference Link
06:51 EDTZIONZions Bancorp upgraded to Outperform from Neutral at Credit Suisse
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06:38 EDTCCiti plans to combine retail banking, mortgage operations, Reuters says
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June 25, 2015
10:11 EDTCBrooks Brothers, Citi announce exclusive credit card relationship
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07:13 EDTCFed director says full transparency in stress testing can be 'enormous weakness'
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05:35 EDTCCiti apppointed depository bank for Celyad ADR program
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June 24, 2015
10:00 EDTCOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Autoliv (ALV) downgraded to Sell from Neutral at Goldman... Catamaran (CTRX) downgraded to Neutral from Buy at UBS... Citi (C) downgraded to Hold from Buy at Deutsche Bank... Esperion (ESPR) downgraded to Neutral from Outperform at Credit Suisse... Fortinet (FTNT) downgraded to Neutral from Buy at Citi... General Motors (GM) downgraded to Neutral from Buy at Goldman... Goldman Sachs (GS) downgraded to Hold from Buy at Deutsche Bank... IBERIABANK (IBKC) downgraded to Neutral from Outperform at Baird... Independent Bank (INDB) downgraded to Underperform from Neutral at Baird... Inphi (IPHI) downgraded to Market Perform from Outperform at Northland... MoneyGram (MGI) downgraded to Neutral from Outperform at Macquarie... Sensata (ST) downgraded to Hold from Buy at Cross Research... Teradyne (TER) downgraded to Buy from Conviction Buy at Goldman... Alcobra (ADHD) downgraded to Hold from Speculative Buy at WBB Securities.
06:37 EDTCDeutsche downgrades Citi, Goldman after share rallies
Deutsche Bank analyst Matt O'Connor recommends using the strong share performance of both Citi (C) and Goldman Sachs (GS) as on opportunity to take profits. The analyst this morning downgraded shares of both investment banks to Hold from Buy. Citi is up 21% from the lows on January 30 while Goldman is up 30% since July 1, 2014, the analyst points out. On Citi, O'Connor sees less near term upside with fixed income trading entering a seasonally weak period and core cost reductions largely over. On Goldman, the analyst sees a lack of catalysts to drive the stock meaningfully higher in the near term. His top picks among U.S. Banks are Bank of America (BAC), JPMorgan (JPM), M&T Bank (MTB) and SunTrust (STI).
06:27 EDTCCiti downgraded to Hold from Buy at Deutsche Bank
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June 23, 2015
09:36 EDTCActive equity options trading on open
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06:25 EDTCBarclays-Stifel deal marks end of Lehman legacy, Business Insider reports
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June 22, 2015
06:45 EDTRBSRBS may ask for more time to spin off Williams & Glyn, U.K. Times reports
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06:10 EDTRBS, HSBCRBS Chairman says UK banks fear block on cross-selling, Financial Times says
RBS Chairman Sir Philip Hampton has warned that British Banks fear being blocked from cross-selling products to their clients, reports the Financial Times. Hampton said UK banks had no choice but to accept the ringfencing low that forces them to hive off retail and small business operations into a separate subsidiary at arms length from other activities. Reference Link
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