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Stock Market & Financial Investment News

News Breaks
March 12, 2014
06:46 EDTC, USB, WFC, JPM, BACSenators reach deal to eliminate Fannie Mae, Freddie Mac
Yesterday Senate Banking Committee Chairman Tim Johnson, a Democrat, and Ranking Member Mike Crapo, a Republicans, announced that they had reached an agreement on a housing finance reform proposal. according to a press release issued by Crapo. Under the deal Fannie Mae and Freddie Mac would be wound down and eliminated, the press release stated. It would mandate 10% private capital, up front, and create a mortgage insurance fund for the system to protect taxpayers against future bailouts, the statement added. The proposal would also require strong underwriting standards and facilitate the broad availability of credit for eligible single-family and multifamily borrowers, the press release reported. Publicly traded companies involved in mortgages include Bank of America (BAC), Citigroup (C), JPMorgan (JPM), U.S. Bancorp (USB) and Wells Fargo (WFC). [Reference Link]:[http://www.crapo.senate.gov/media/newsreleases/release_full.cfm?id=350500
News For C;USB;WFC;JPM;BAC From The Last 14 Days
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October 17, 2014
16:55 EDTC, BAC, JPM, WFCStocks end volatile week lower amid oil price plunge
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09:38 EDTCActive equity options trading on
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09:06 EDTJPMJPMorgan and PNC Financial weakness a buying opportunity, say Morgan Stanley
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07:00 EDTJPMJPMorgan in talks to build corporate campus in Manhattan, NY Times reports
JPMorgan Chase (JPM) is in negotiations with New York state and city officials over a potential $6.5B deal that would result in the construction of a corporate campus with two high rises on the West Side of Manhattan, the Wall Street Journal reports. Reference Link
06:45 EDTWFCWells Fargo closes alternative trading system, Reuters says
In response to weak client demand, Wells Fargo is shutting down its "dark pool" trading system, according to Reuters, citing a spokeswoman from the bank. The spokeswoman said that even though the firm will cease offering alternative trading access, it will still offer customers electronic trading tools. Reference Link
October 16, 2014
16:43 EDTWFCWells Fargo commercial banking veteran in Florida Howard Halle to retire
Wells Fargo head of Commercial Banking in Florida, Howard Halle, will retire at year-end. A search for Halle’s successor is underway and is expected to be announced in early November.
16:23 EDTJPMJPMorgan announces Apple Pay to be available to Chase customers, merchants
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14:09 EDTJPM, WFC, C, BACApple confirms October 20 start date for Apple Pay
Apple (AAPL) announced that customers can start making payments on Monday, October 20, when Apple Pay becomes available in the U.S. Users of the iPad Air 2 and iPad mini 3 will be able to use Touch ID on their devices for Apple Pay within apps. The new service will be enabled by a free software update to iOS 8. Apple Pay supports credit and debit cards from the three major payment networks: American Express (AXP), MasterCard (MA) and Visa (V). In addition to American Express, Bank of America (BAC), Capital One Bank (COF), Chase (JPM), Citi (C), Wells Fargo (WFC) and others, who announced support in September, more than 500 new banks from across the country have signed on to Apple Pay, the company said.
11:41 EDTCCitigroup to host conference call
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10:01 EDTWFC, BAC, COn The Fly: Analyst Upgrade Summary
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09:39 EDTCActive equity options trading on open
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08:42 EDTJPM, CUBS, DOJ in talks for forex rigging settlement, FT reports
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08:27 EDTBACBank of America weakness overdone, buy shares, says Morgan Stanley
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08:23 EDTBACBofA CEO steps point to extended stay in post, Reuters reports
Bank of America Chairman and CEO Brian Moynihan has taken more control over the bank's retail business, has shifted executives into new positions and his sway with directors has increased since he recently became chairman, all of which signal that he plans to remain at the bank for "a minimum of five years," according to Reuters, citing sources familiar with the matter. Reference Link
07:44 EDTBACBank of America quarterly results trumped by market sell-off, says UBS
UBS believes Bank of America posted better than expected earnings with core expenses declining, but that the results were overshadowed by the market sell-off. The firm saw improved expense management and believes the company's changes to its portfolio will eventually be impacted by short term interest rates. UBS reiterates its Buy rating and $20 price target on Bank of America.
07:31 EDTWFCWells Fargo upgraded to Buy from Hold at Argus
Argus upgraded Wells Fargo to Buy with a $54 price target based on valuation and high levels of profitability and returns.
07:29 EDTCCitigroup upgraded to Hold from Sell at Argus
Argus upgraded Citigroup to Hold based on valuation and management's progress in improving the loan portfolio and reducing expenses.
07:23 EDTJPMIBF Conferences to hold a summit
Ophthalmology Innovation Summit is being held in Chicago on October 16.
07:21 EDTCCFA Institute to hold a conference
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05:57 EDTBACBank of America upgraded to Outperform from Market Perform at FBR Capital
FBR Capital upgraded Bank of America to Outperform with a $20 price target citing book value growth following the company's Q3 results. Shares closed yesterday down 28c to $15.48.
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