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News For C;JPM;FITB;MS;BAC From The Last 14 Days Check below for free stories on C;JPM;FITB;MS;BAC the last two weeks. |
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| May 8, 2013 | | 10:57 EDT |  | JPM | ICU Medical jumps after report says company considering sale
 Subscribe for More Information | | | 10:20 EDT |  | JPM | JPMorgan chooses Bisso to run North America investment office, Bloomberg says
Subscribe for More Information | | | 09:45 EDT | | JPM | JPMorgan named Erik Bisso as CIO for North America, Bloomberg reports
Subscribe for More Information | | | 09:37 EDT |  | C | Active equity option families trading on open
Subscribe for More Information | | | 09:35 EDT | | FITB | Fifth Third sees Q2 after-tax gain of $145M from Vantiv share sale
Fifth Third (FITB) announced that Vantiv (VNTV) recently priced a secondary offering of 38.6M shares of Class A Common Stock being sold on behalf of selling shareholders, including 15.6M shares being sold by Fifth Third. Additionally, Vantiv announced that it has entered into an agreement to repurchase 17.5M shares of the shares being sold by the selling shareholders in the offering. The combination of the sale and Vantiv’s repurchase of shares would result in an approximate 15% reduction in Fifth Third's ownership position in Vantiv, excluding warrants, the company said. Upon the settlement of this transaction, Fifth Third said it expects to recognize a pre-tax gain of approximately $225M, or approximately $145M after-tax, during Q2. Following the settlement, Fifth Third would have a remaining economic interest of approximately 28% of Vantiv’s future earnings, before consideration of the potential impact of an exercise of the underwriters’ overallotment option, it said. | | | 07:56 EDT | | MS | Morgan Stanley expands types of debt it buys, Bloomberg reports
Morgan Stanley added $677M of collateralized debt obligations to its available-for-sale portfolio in Q1 and increased its corporate bond holdings to $3.53B, according to a regulatory filing, reports Bloomberg. The portfolio was invested solely in government and agency debt and U.S.-backed student loans at the end of 2011. Reference Link | | | May 7, 2013 | | 16:01 EDT | | BAC | Options Update; May 7, 2013
Subscribe for More Information | | | 13:01 EDT | | BAC | AIG can sue BofA over mortgages, judge says, WSJ reports
A federal judge has ruled that American International Group (AIG) has the right to sue Bank of America (BAC) over more than $7B of mortgage-investment losses, reports the Wall Street Journal. U.S. District Judge Mariana Pfaelzer said that AIG did not give up its right to pursue certain legal claims when it unloaded the investments as part of its 2008 bailout. Reference Link | | | 12:38 EDT | | C | Citigroup sues Barclays over Lehman losses, Reuters says
Subscribe for More Information | | | 11:26 EDT | | BAC | MBIA rally continues after Bank of America settlement
Subscribe for More Information | | | | 10:56 EDT | | JPM | Second firm recommends JPMorgan split CEO, Chairman roles, FT reports
Subscribe for More Information | | | 10:28 EDT | | JPM | JPMorgan may cut commodity trader jobs in London, Dubai, Bloomberg says
Subscribe for More Information | | | 10:20 EDT | | BAC, C | Banks accused of restraining swaps market competition, Bloomberg says
A sheet metal workers union in Cleveland claimed in federal court that Goldman Sachs Group (GS), Citigroup (C) and 10 other banks have restrained market competition" for credit default swaps, violating U.S antitrust law, says Bloomberg. Other banks named in the complaint include Bank of America (BAC), Deutsche Bank (DB), and UBS (UBS), added Bloomberg. Reference Link | | | 09:38 EDT | | BAC | Active equity option families trading
Subscribe for More Information | | | 09:17 EDT | | BAC | On The Fly: Pre-market Movers
Subscribe for More Information | | | 07:10 EDT | | JPM | Three major JPMorgan shareholders undecided on Dimon's roles, WSJ reports
Subscribe for More Information | | | 06:07 EDT | | JPM | On the Fly: Periodicals Wrap-Up
WALL STREET JOURNAL: Some of the world's biggest handset makers and telecom carriers are embracing alternative mobile operating systems this year in an attempt to become credible challengers to smartphones run by Apple (AAPL) and Google (GOOG), the Wall Street Journal reports...JPMorgan Chase (JPM) has yet to persuade three of its largest shareholders--BlackRock (BLK), Vanguard Group and Fidelity Investments--to back the company in a coming vote over whether James Dimon should retain his dual role of chairman and CEO, the Wall Street Journal reports...REUTERS: SoftBank (SFTBF) President Masayoshi Son said he will go to the U.S. today to meet Sprint Nextel’s (S) major shareholders about the Japanese company's takeover bid, after rival bidder Dish Network (DISH) said a U.S. company would make a better suitor., Reuters reports...Microsoft (MSFT) has sold 100M Windows 8 licenses in the six months since launch, but wants to combat sputtering interest in its flagship software with a substantial update to make it easier to use, and compatible with smaller tablets, Reuters reports...BLOOMBERG: Rio Tinto (RIO) will likely pursue a $5B expansion of its iron ore output in Australia, CEO Sam Walsh said, according to two people present at a meeting with investors and analysts, Bloomberg reports...Saudi Arabia, home to the biggest Arab bourse, seeks to boost institutional investments in its $390B stock market as the top OPEC producer weighs plans to allow foreigners to buy shares directly, Bloomberg reports. | | | 06:01 EDT | | JPM, C | Antero Resources, controlled by Warburg Pincus, plans IPO, Reuters reports
Denver-based Oil and gas company Antero Resources, controlled by Warburg Pincus LLC, is preparing for an IPO that could value it at as much as $10B, sources say, reports Reuters. Antero hired Barclays (BCS), JP Morgan Chase (JPM) and Citigroup (C) to lead the deal, sources added. Reference Link | | | 05:50 EDT | | BAC, JPM, C | Mortgage lenders ease standards for 'prime' borrowers, WSJ reports
Subscribe for More Information | | | May 6, 2013 | | 16:39 EDT |  | BAC | On The Fly: Closing Wrap
The Wall Street averages were mixed as a light news flow and light volume did little to catalyze a further advance. Still, with its positive close, the S&P 500 managed to set a new all-time closing high. ECONOMIC EVENTS: In the U.S., no major economic data was reported. COMPANY NEWS: Bank of America (BAC) and MBIA (MBI) announced a comprehensive settlement to resolve all claims between the two companies. As part of the settlement, Bank of America will pay MBIA $1.6B in cash, receive warrants to purchase a 4.9% equity stake in MBIA and provide a $500M credit facility to the bond insurer. Bank of America also said it would take $1.3B in Q1 charges related to the settlement and that its first quarter earnings would be negatively impacted by 10c per share. Shares of MBIA, which spiked higher near noon after Dow Jones first reported the settlement, closed up $4.46, or 45.37%, to $14.29. Bank of America shares added 64c, or 5.23%, to $12.88... A team of private-equity firms led by Bain Capital and Golden Gate Capital agreed to buy BMC Software (BMC) for $46.25 per share in cash, or $6.9B. BMC shares, which have added more than 14% year-to-date amidst reports of negotiations for the deal, closed unchanged at $45.42. MAJOR MOVERS: Among notable gainers was Arkansas Best (ABFS), up $4.18, or 39.62%, to $14.73 after reaching a tentative labor agreement with the Teamsters union. Also higher was Tesla (TSLA), up $4.95, or 9.07%, to an all-time closing high of $59.50 after Barclays raised its price target on shares to $56 from $38 and the company named Aston Martin's lead vehicle engineer as VP of vehicle engineering. Among the noteworthy losers were LINN Energy (LINE), down $1.97, or 5.21%, to $35.75, and its spin-off LinnCo (LNCO), down $2.59, or 6.2%, to $39.24, following a cautious mention in this weekend's Barron's magazine. Also lower were shares of Tyson Foods (TSN), down 83c, or 3.33%, to $24.10 after its earnings report. INDICES: The Dow was down 5.07, or 0.03%, to 14,968.89; the Nasdaq was up 14.34, or 0.42%, to 3,392.97; and the S&P 500 was up 3.08, or 0.19%, to 1,617.50. | | |
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