New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
July 15, 2014
08:03 EDTCBS, CBSO, 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Class B common stock on a pro rata basis in proportion to the total number of shares validly tendered and not validly withdrawn.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the exchange offer are as follows: total number of shares of CBS Class B common stock validly tendered and not validly withdrawn: 300,229,143;shares tendered that were subject to proration: 299,798,292; "Odd-lot" shares tendered that were not subject to proration: 430,851; and total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
Sign up for a free trial to see the rest of the stories you've been missing.
October 1, 2014
11:46 EDTWFCDavid Tepper says economy good, stock market not at high multiple currently
Subscribe for More Information
09:10 EDTWFCKapStone begins accounts receivable securitization program
KapStone Paper and Packaging (KS) entered into an accounts receivable securitization arrangement with Wells Fargo Bank (WFC) and PNC Bank (PNC) on September 26. The Securitization generated proceeds of $175M which were used to partially prepay the Company's existing term loans. Due to a lower interest rate on the Securitization, KapStone's gross annual interest expense will be reduced by approximately $2.0M. The Company's weighted average annual interest rate on its bank debt is now 1.8%. The Securitization can be repaid at any time without penalty.
September 30, 2014
11:54 EDTCBSFCC eliminates sports blackout rules
Subscribe for More Information
06:25 EDTCBSFCC asks media companies for Comcast contract details, WSJ reports
The FCC is pushing for media companies to submit details of their programming agreements with Comcast (CMCSA) ahead of the company's merger with Time Warner Cable (TWC), reports the Wall Street Journal. Citing a person familiar with the matter, the FCC believes the documents contain information that would be relevant in its review. Officials from media companies including CBS (CBS), 21st Century Fox (FOXA), Disney (DIS), Discovery (DISCA), Time Warner (TWX) and Viacom (VIA;VIAB) met with FCC staff earlier this month to voice concerns about releasing highly confidential materials. Reference Link
September 29, 2014
07:58 EDTWFCWarren calls for hearing on 'disturbing' Fed tapes, Reuters reports
Two members of the the Senate Banking Committee, Democrats Elizabeth Warren and Sherrod Brown, called for an investigation into the issues raised by secretly taped conversations between officials at Goldman Sachs (GS) and supervisors at the New York Federal Reserve, reported Reuters. Other large U.S. banks include Bank of America (BAC), Citigroup (C), JPMorgan (JPM), Morgan Stanley (MS), U.S. Bancorp (USB) and Wells Fargo (WFC). Reference Link
07:15 EDTWFCNational Association of Business Economics to hold annual meeting
Subscribe for More Information
September 25, 2014
15:10 EDTWFCHolder resignation as AG positive for banks, says Rafferty Capital
Subscribe for More Information
September 24, 2014
15:04 EDTWFCGoldman, other banks near deal to buy Bloomberg messaging alternative, WSJ says
Subscribe for More Information
September 23, 2014
08:06 EDTCBSCBS near-term volatility will create opportunity, says Wells Fargo
Subscribe for More Information
06:13 EDTWFCWells Fargo Advisers fined $5M by SEC for failing to maintain controls
The Securities and Exchange Commission yesterday charged Wells Fargo Advisors LLC with failing to maintain adequate controls to prevent one of its employees from insider trading based on a customerís nonpublic information. The SEC also charged Wells Fargo for unreasonably delaying its production of documents during the SECís investigation and providing an altered internal document related to a compliance review of the brokerís trading. Wells Fargo, which admits wrongdoing, has agreed to pay a $5M penalty to settle the SECís charges, which are the first-ever against a broker-dealer for failing to protect a customerís material nonpublic information. Reference Link
September 22, 2014
18:20 EDTWFCSEC fines Wells Fargo Advisors $5M for not stopping inside trade, FT reports
The brokerage arm of Wells Fargo (WFC), Wells Fargo Advisors, was fined $5M by the SEC for not stopping an employee from trading on customer information ahead of the 2010 acquisition of Burger King (BKW), sometimes called ďthe sandwich deal," FT reports. Reference Link
September 18, 2014
14:08 EDTWFCBanks look to high-interest personal loans to boost revenue, WSJ says
Subscribe for More Information
06:37 EDTCBSCBS head looks to reduce radio assets within 12 months, Reuters says
Subscribe for More Information
September 17, 2014
17:19 EDTCBSCBS CEO says online ads not cannibalizing broadcast TV ads
Subscribe for More Information
16:58 EDTCBSCBS CEO says Ray Rice scandal may have increased ratings
16:51 EDTCBSCBS CEO says could offer similar product to HBO Go in Europe
Les Moonves is speaking at the Bank of America conference.
13:28 EDTWFCWells Fargo eases lending requirements for buying apartments, Financial Times says
Wells Fargo (WFC) is easing lending requirements for apartment purchases, reports the Financial Times. In an interview, the head of Wells Fargo mortgage production Franklin Codel said, ďWeíre tweaking our condo approvals to make them more consistent with what Fannie Mae (FNMA) and Freddie Mac (FMCC) allow." Reference Link
13:16 EDTWFCHolder says DOJ looking to charge bank executives, Washington Post says
Subscribe for More Information
08:19 EDTWFCNational Press Club holds a luncheon meeting
Wells Fargo & Co. CEO John Stumpf discusses the role of financial services in the real economy at a National Press Club luncheon meeting being held in Washington, D.C. on September 17 at 1 pm. Webcast Link

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the theflyonthewall.com disclaimer & terms of use