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Stock Market & Financial Investment News

News Breaks
July 15, 2014
08:03 EDTCBS, WFC, CBSOCBS 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Class B common stock on a pro rata basis in proportion to the total number of shares validly tendered and not validly withdrawn.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the exchange offer are as follows: total number of shares of CBS Class B common stock validly tendered and not validly withdrawn: 300,229,143;shares tendered that were subject to proration: 299,798,292; "Odd-lot" shares tendered that were not subject to proration: 430,851; and total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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March 29, 2015
18:02 EDTWFCECB stimulus may boost trading opportunities for investment banks, Reuters says
The European economic stimulus plan may boost trading opportunities for major investment banks whose profits have been curtailed by an increase in financial regulations since the financial crisis, says Reuters. 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
March 26, 2015
08:17 EDTWFCSEC Chairwoman proposes new 'dark pool' regulation, NY Post says
Securities and Exchange Commission Chairwoman Mary Jo White proposed new regulation Wednesday that would require high-frequency traders to register with the Financial Industry Regulatory Authority and provide the agency with a daily paper trail, reports the New York Post. The Post notes that there is a 60-day comment period before any SEC rule is finalized. 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
07:24 EDTCBSWells Fargo to hold a forum
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06:11 EDTWFCWells Fargo to close Milwaukee office, cut 1,000 jobs, AP reports
Wells Fargo will eliminate about 1,000 jobs in Milwaukee as the bank closes its home lending servicing office in the city, The Associated Press reports. The bank said in an emailed statements that fewer customers have become delinquent on their payments as the economy has improved, and fewer customers have needed assistance to stay in their homes. Reference Link
March 24, 2015
07:45 EDTWFCMetLife CEO letter may be early sign of bank earnings headwinds, WSJ says
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07:27 EDTWFCTelsey Advisory to hold a conference
2015 Consumer Conference is being held in New York on March 24-25.
March 23, 2015
17:12 EDTCBSCBS extends employment agreement with president of CBS News David Rhodes
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07:19 EDTWFCCapital Link to hold a forum
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March 20, 2015
08:13 EDTCBSCanada to 'unbundle' cable TV offerings by December 2016
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06:36 EDTCBSWeb TV companies ask internet providers for special treatment, WSJ says
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06:17 EDTCBSCBS price target raised to $72 from $60 at Citigroup
Citigroup raised its price target for CBS to $72 and calls the company the stock to own in the space amid changing industry dynamics. Citi sees upside to consensus estimates for 2016 and beyond from CBS's All Access subscriber expansion and Showtime over-the-top offering. It maintains a Buy rating on the name.
March 19, 2015
11:53 EDTWFCU.S. banks face headwinds in unloading oil loans, WSJ says
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07:23 EDTCBSEvercore ISI to hold a tour
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March 18, 2015
12:09 EDTCBSSony announces launch of PlayStation Vue in New York, Chicago, Philadelphia
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09:23 EDTCBSVerizon may launch mobile TV service as soon as June, Bloomberg says
Verizon (VZ) has secured mobile television streaming rights with Viacom (VIA, VIAB) and DreamWorks Animation (DWA) and plans to start a mobile video streaming service as early as June, according to Bloomberg, citing a person familiar with the matter. Verizon plans to have programming from ABC (DIS), NBC (CMCSA), CBS (CBS) and Fox (FOXA) as part of the service, the report added. The Fly notes that Verizon has publicly confirmed previously that it plans to launch such a service, but has not provided many details to date.
March 17, 2015
17:19 EDTCBSTime Warner, CBS CEOs discussed possible merger last year, Bloomberg reports
CBS (CBS) CEO Les Moonves and Time Warner (TWX) CEO Jeff Bewkes had discussions about combining their companies in meetings last year, Bloomberg reports, citing three people with knowledge of the matter. Reference Link
15:56 EDTCBSTime Warner, CBS CEOs discussed possible merger last year, Bloomberg reports
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13:06 EDTCBSBattleground: Analysts take opposite sides on Netflix
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11:36 EDTCBSApple may launch standalone TV in 2016, says Piper Jaffray
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March 16, 2015
07:39 EDTCBSViacom shareholder meeting may question Viacom, CBS control, NY Post says
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