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Class B common stock on a pro rata basis in proportion to the total number of shares validly tendered and not validly withdrawn.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the exchange offer are as follows: total number of shares of CBS Class B common stock validly tendered and not validly withdrawn: 300,229,143;shares tendered that were subject to proration: 299,798,292; "Odd-lot" shares tendered that were not subject to proration: 430,851; and total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.
1 | 2 | all recent news | >>
October 22, 2014
08:00 EDTWFCWells Fargo sees opportunity with deeper move into Europe, WSJ says
Subscribe for More Information
October 21, 2014
08:18 EDTWFCBasel Committee accelerating work on leverage ratio, FT says
The Basel Committee on Banking Supervision will begin work on the calibration of the leverage ratio, a measure of bank capital seen as less vulnerable to manipulation, sooner than previously planned, which suggests the finished rule could be released as soon as 2015 or 2016, which is ahead of the previous target date of 2017, reported Financial Times, citing comments from the secretary-general of the committee, William Coen. Publicly traded large U.S. banks include Bank of America (BAC), Citigroup (C), Goldman Sachs (GS), JPMorgan (JPM), Morgan Stanley (MS), U.S. Bancorp (USB) and Wells Fargo (WFC). Publicly traded large EU banks include Banco Santander (SAN), Barclays (BCS), Credit Suisse (CS), Deutsche Bank (DB), HSBC (HSBC), ING Groep (ING), Lloyds Banking (LYG), Royal Bank of Scotland (RBS) and UBS (UBS). Reference Link
October 20, 2014
15:40 EDTCBSAmazon in new contract with Simon & Schuster, WSJ reports
Amazon.com (AMZN) and CBS’s (CBS) Simon & Schuster unit have reached a new multi-year print and digital contract that replaces an existing one set to expire in two months, according to The Wall Street Journal, citing people familiar with the situation. Details of the new contract couldn’t be immediately learned, but the report notes that a person close to the talks said that the new deal “is good for both companies” and that Simon & Schuster is “very happy” with the pact. Reference Link
12:34 EDTCBSOCBS Outdoor upgraded to Outperform at Barrington
Subscribe for More Information
12:17 EDTCBSOCBS Outdoor upgraded to Outperform from Market Perform at Barrington
11:02 EDTCBSOCBS Outdoor to rebrand as Outfront Media
CBS Outdoor Americas has announced it will rebrand as Outfront Media Inc., marking another important step in the company's transformation. The Outfront identity represents a new era for the Company and for its position within the growing out-of-home advertising sector. The brand also symbolizes the company's unique portfolio of billboards and displays in the most desired locations, including landmark positions in high-traffic areas, retail districts, transit hubs and iconic destinations. Today's introduction of Outfront Media kicks off a process that will include rebranding more than 100,000 displays. On November 20, the company will be reintroduced online and on the New York Stock Exchange under the ticker symbol "OUT". In addition to a new brand, the company is introducing new products and services aimed at enhancing its customers' advertising campaigns.
October 19, 2014
11:58 EDTCBSCBS could see 25% gain, Barron's says
CBS shares could be worth around $66.00 at a peer-like-multiple, a gain of 25%, driven by fees from affiliates and Showtime, Barron's contends in a feature article. Reference Link
October 17, 2014
16:55 EDTWFCStocks end volatile week lower amid oil price plunge
Subscribe for More Information
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.
16:30 EDTCBSOn The Fly: Closing Wrap
Subscribe for More Information
14:09 EDTWFCApple 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.
12:29 EDTCBSOn The Fly: Midday Wrap
Stocks on Wall Street were lower at midday, though well off their worst levels. The market opened sharply lower following less than stellar quarterly reports from some of the country’s largest corporations and a number of in-focus "momentum" names such as Netflix (NFLX) and eBay (EBAY). The early drop extended the market’s recent declines and put the averages close to correction territory. The market moved off its lows after a regional Fed president, who'd recently been seen as hawkish, said in an interview that the central bank should consider delaying the end of quantitative easing and that it should be more data driven than time driven. The comments were attributed as the catalyst for a reversal that brought the averages all the way back to positive territory, though the market has once again drifted back into negative ground. ECONOMIC EVENTS: In the U.S., initial jobless claims decreased by 23K to 264K last week to hit their lowest level since April 2000. Industrial production rebounded 1.0% in September, beating expectations for a rise of 0.4% and pushing capacity utilization up to 79.3% from 78.7% previously. The Philadelphia Fed manufacturing index fell 1.8 points to 20.7 in October, which was not as low as the expected 19.9 reading. The NAHB homebuilder sentiment index fell 5 points to 54 in October, versus expectations for it to hold steady at 59. Also of significant note, St. Louis Fed President James Bullard, who is not a voting FOMC member though was quoted recently saying that a rate hike might be appropriate as soon as early next year, reversed course this morning and told Bloomberg in an interview that the Fed should consider delaying an end to its quantitative easing program. COMPANY NEWS: Shares of Netflix (NFLX) plunged 22% after the company provided lower than expected Q4 profit guidance and reported lower than expected subscriber data. The move after its earnings report last night also follows Time Warner's (TWX) announcement yesterday of plans for a standalone HBO online service and Piper Jaffray saying it believes CBS (CBS) will similarly launch an over-the-top Showtime offering next year... eBay (EBAY) shares slipped nearly 6% after the company missed revenue expectations for the third quarter and lowered its outlook for fiscal 2014. Following the report, analysts at both RBC Capital and CLSA downgraded the stock. MAJOR MOVERS: Among the notable gainers was Chesapeake Energy (CHK), which rose 17% after the company announced that it sold Marcellus and Utica shale assets to Southwestern Energy (SWN) for $5.375B. Shares of the buyer Southwestern, however, fell 8% after the deal announcement. Also lower was Extreme Networks (EXTR), which dropped almost 19% after cutting its first quarter outlook citing significant delays with its North American deals as well as headwinds in Europe. INDEXES: Near midday, the Dow was down 28.46, or 0.18%, to 16,113.28, the Nasdaq was down 16.16, or 0.38%, to 4,199.16, and the S&P 500 was down 2.08, or 0.11%, to 1,860.41.
10:49 EDTCBSCBS likely to launch Showtime OTT service in 2015, says Piper Jaffray
Subscribe for More Information
10:01 EDTWFCOn The Fly: Analyst Upgrade Summary
Subscribe for More Information
09:57 EDTCBSCBS All Access not meant to be a disrupter to eco-system, says Wells Fargo
Subscribe for More Information
09:18 EDTCBSMoonves: Showtime standalone service in 'not too distant future,' NY Times says
Subscribe for More Information
09:09 EDTCBSCBS announces launch of stand-alone web subscription service
CBS announced the launch of CBS All Access, a new digital subscription video on demand and Nielsen-measured live streaming service for the CBS Television Network. CBS All Access will offer subscribers thousands of episodes from the current season, previous seasons and classic shows on demand, as well as the ability to stream local CBS Television stations live in 14 of the largest U.S. markets at launch. CBS All Access is available beginning today at CBS.com and on mobile devices through the CBS App for iOS and Android. CBS All Access will cost $5.99 per month.
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.
06:03 EDTCBSStocks with implied volatility above IV index mean; AFSI CBS
Subscribe for More Information
1 | 2 | all recent news | >>

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