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Stock Market & Financial Investment News

News Breaks
July 15, 2014
08:03 EDTCBSO, CBS, WFCCBS reports results of CBS Outdoor exchange offer
CBS (CBS) announced the final results of its offer to shareholders to exchange their shares of CBS Class B Common stock for up to 97M shares of CBS Outdoor Americas (CBSO) common stock that are owned by CBS. Under the terms of the offer, 2.1689 shares of CBS Outdoor common stock will be exchanged for each share of CBS Class B common stock accepted in the offer. CBS accepted 44,723,131 of the tendered shares in exchange for 97M shares of CBS Outdoor common stock owned by CBS. Because the exchange offer was oversubscribed, CBS accepted tendered shares of CBS Class B common stock on a pro rata basis in proportion to the total number of shares validly tendered and not validly withdrawn. Based on the final count by the exchange agent Wells Fargo (WFC) Bank, the final result of the exchange offer are as follows: total number of shares of CBS Class B common stock validly tendered and not validly withdrawn: 300,229,143;shares tendered that were subject to proration: 299,798,292; "Odd-lot" shares tendered that were not subject to proration: 430,851; and total number of shares of CBS Class B common stock accepted: 44,723,131.
News For CBS;CBSO;WFC From The Last 14 Days
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February 27, 2015
08:01 EDTWFCWells Fargo fires Ocwen as bond overseer, hires Credit Suisse, Bloomberg says
Wells Fargo (WFC) has issued notices to Ocwen (OCN) terminating it as overseer of debt backing for two bond deals, reports Bloomberg, citing letters sent from Wells Fargo to bondholders. Wells Fargo stated in notices sent to bondholders that a majority of investors felt the move was correct. Wells Fargo plans to transfer responsibility to Credit Suisse (CS). Reference Link
06:07 EDTCBSTiVo, RPX buy Aereo assets, WSJ says
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February 26, 2015
15:02 EDTWFCFed extends capital surcharge for SiFi banks comment period to April 3
The Federal Reserve extended until April 3 the comment period for its proposed rule to implement capital surcharges for the largest, most systemically important U.S. bank holding companies. The Fed extended the comment period to allow interested persons more time to analyze the issues and prepare their comments. Originally, comments were due by March 2. The proposed rule would establish a methodology to identify whether a firm is a global systemically important banking organization and would also establish the size of a firm's risk-based capital surcharge. The proposal is designed to further strengthen the capital positions of these institutions. Large U.S. banks include Bank of America (BAC), Citi (C), Goldman Sachs (GS), JPMorgan (JPM), Morgan Stanley (MS), U.S. Bancorp (USB) and Wells Fargo (WFC).
10:50 EDTWFCNew York regulator considering cybersecurity, cash laundering controls, WSJ says
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February 25, 2015
07:57 EDTCBSSandell pressures CBS to divest radio stations to Cumulus Media, The Deal says
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February 24, 2015
07:12 EDTWFCWells Fargo to hold a conference
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February 19, 2015
10:05 EDTCBSCBS says Hulu bought video on demand rights to CSI
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06:47 EDTWFCReport shows subprime consumer loans at pre-2007 levels, WSJ says
Equifax (EFX) has released a report stating nearly 40%, or 50M, of auto loans, credit cards, and personal loans during the first 11 months of 2014 were made to subprime customers, the highest levels since the 2007 financial crisis, reports the Wall Street Journal. LendingTree (TREE) Chief Marketing Officer Gabriel Dalporto attributes the growth to nonbank lenders under less regulatory scrutiny than large banks. Publicly traded companies in the space include Bank of America (BAC), Citi (C), Goldman Sachs (GS), JPMorgan (JPM), Morgan Stanley (MS), U.S. Bancorp (USB) and Wells Fargo (WFC). Reference Link
February 18, 2015
10:05 EDTCBSOn The Fly: Analyst Initiation Summary
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08:49 EDTCBSCBS initiated with a Neutral at Rosenblatt
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07:21 EDTWFCJPMorgan, Citi top government report of riskiest banks, Reuters reports
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February 17, 2015
12:56 EDTCBSDecline of TV viewing accelerated, NY Post reports
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February 13, 2015
17:05 EDTCBSAppaloosa gives quarterly update on stakes
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09:21 EDTCBSOn The Fly: Pre-market Movers
UP AFTER EARNINGS: Cytokinetics (CYTK), up 15.6%... King Digital (KING), up 22.2%... Cyberark Software (CYBR), up 19.2%... Web.com (WWWW), up 4%... CBS (CBS), up 3.4%. ALSO HIGHER: Freescale Semiconductor (FSL), up 10.9% following a New York Post report that the company is exploring a sale. Carlyle Group (CG), which owns Freescale, along with Blackstone (BX), is up 1.5%. Blackstone is up fractionally... Whiting Petroleum (WLL), up 4.4% following a Bloomberg report that the company is seeking a buyer for assets in North Dakota... Ariad Pharmaceuticals (ARIA), up 5.7% following a CNBC report that Sarissa Capital is seeking to replace Ariad CEO and Chairman Harvey Berger. DOWN AFTER EARNINGS: Knowles (KN), down 20.3%... Zynga (ZNGA). down 12.4%... J.M. Smucker (SJM), down 2.1%. ALSO LOWER: Magnachip Semiconductor (MX), down 51.7% after restating financial results... Idera Pharmaceuticals (IDRA), down 7.6% after 20M share Secondary priced at $3.75.

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