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Stock Market & Financial Investment News

News Breaks
December 6, 2012
08:38 EDTCHUY, WFCChuy's announces new $25M credit agreement with Wells Fargo Bank
Chuy's Holdings announced that it has entered into a new five-year $25M revolving credit facility with Wells Fargo Bank (WFC), The new facility replaces an existing senior secured credit facility that was scheduled to mature in May 2016. At closing, $5M was drawn under the new revolving credit facility to pay off the balance of the old facility plus accrued interest and fees. Excluding the existing balance, the new facility allows for available borrowings of $20M compared to availability of approximately $10.5M under the old facility. Additionally, the new facility bears interest between 1.75%-2.25% over LIBOR, dependent upon the company's leverage ratio, with no LIBOR floor. As of closing, the company's borrowing rate was reduced by approximately five percent compared to the current rates under the previous facility and is expected to reduce annual interest expense by approximately $250,000 at current borrowing levels. In conjunction with the refinancing, the company will record a one-time pre-tax expense of approximately $91,000 related to the write-off of financing costs previously deferred for the old facility.
News For CHUY;WFC From The Last 14 Days
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January 22, 2015
14:36 EDTWFCCFPB fines Wells Fargo, JPMorgan for kickback scheme
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10:03 EDTCHUYOn the Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: AMC Networks (AMCX) upgraded to Buy from Neutral at Nomura... Alcatel-Lucent (ALU) upgraded to Conviction Buy from Neutral at Goldman... Chuy's (CHUY) upgraded at Wells Fargo... Coty (COTY) upgraded to Buy from Neutral at Citigroup... Era Group (ERA) upgraded to Buy from Hold at Evercore ISI... Exterran (EXH) upgraded to Buy from Hold at Evercore ISI... F5 Networks (FFIV) upgraded to Buy from Neutral at Buckingham... Joy Global (JOY) upgraded to Outperform from Market Perform at BMO Capital... Lennox (LII) upgraded to Buy from Neutral at UBS... RSA Insurance (RSNAY) upgraded to Outperform from Neutral at Credit Suisse... Rockwell Automation (ROK) upgraded to Buy from Neutral at UBS... SodaStream (SODA) upgraded to Hold from Sell at Stifel... eBay (EBAY) upgraded to Equal Weight from Underweight at Morgan Stanley.
07:20 EDTCHUYChuy's upgraded at Wells Fargo
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05:46 EDTCHUYChuy's upgraded to Outperform from Market Perform at Wells Fargo
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January 20, 2015
07:26 EDTCHUYJefferies to hold a summit
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January 16, 2015
16:36 EDTWFCMarket finishes week lower on continued oil, global growth worries
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January 14, 2015
16:33 EDTWFCOn The Fly: Closing Wrap
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12:49 EDTWFCOn The Fly: Midday Wrap
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11:02 EDTWFCWells Fargo says 'can tolerate' being at high end of efficiency ratio goal
Says bank spending more money on cybersecurity, risk management, compliance-related issues.
10:42 EDTWFCWells Fargo says taking 'hard look' at expenses
Says around 2% of bank's loans are to oil and gas sector. Says always taking "hard look" at expenses. Says "no specific" provisioning for oil volatility. Says "difficult" to find attractive entry points in fixed-income markets. Says clarity on liquidity encouraged bank to find entry point. Says examining loans on "name by name basis" regarding oil volatility.
10:23 EDTWFCWells Fargo sees Q1 mortgage origination volume consistent with Q4
Sees Q1 mortgage origination volumes "relatively consistent" with Q4 levels. Says bank won't rely on higher interest rates for growth. Says rates could benefit origination volumes in Q1. Says capital levels "strong." Says capital ratios could fluctuate from quarter to quarter. Comments made on the Q4 earnings conference call.
10:07 EDTWFCWells Fargo CEO Stumpf says low oil prices 'positive' for U.S. economy
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10:05 EDTWFCWells Fargo sees operating within 55%-59% efficiency ratio range in FY15
On slides that are being presented on the Q3 earnings conference call, Wells Fargo said that it sees operating within 55%-59% efficiency ratio range in FY15.
09:16 EDTWFCOn The Fly: Pre-market Movers
HIGHER: ZIOPHARM (ZIOP), up 53% after the company and Intrexon (XON) announced a licensing agreement with University of Texas. Intrexon shares are also up 12%... GameStop (GME), up 10.6% after reporting holiday SSS, providing guidance for the fourth quarter and fiscal 2014, and being upgraded at Pacific Crest... Smith Micro (SMSI), up 12.7% after reporting preliminary fourth quarter revenue and providing revenue guidance for the first quarter and fiscal 2015... BioCryst (BCRX), up 3.2% after receiving a positive opinion on EMA orphan drug designation for BCX4161... GoPro (GPRO), up 1% following analyst remarks that sell-off after yesterday's report on Apple (AAPL) patent was "overdone." DOWN AFTER EARNINGS: JPMorgan (JPM), down 2.7%... Wells Fargo (WFC), down 2.2%... Banking peers down as well, with Bank of America (BAC) down 2.8% and Citi (C) down 2%. ALSO LOWER: Tesla (TSLA), down 9% following comments made by CEO Elon Musk at an automotive conference in Detroit regarding a slowdown in China... New Media (NEWM), down 4.8% after 7M share spot secondary priced at $21.70... General Motors (GM), down 3% after giving 2015 guidance, saying it is on track to meet previously announced 2016 financial targets... Apple (AAPL), down 1% following lawsuit against Ericsson (ERIC) and countersuit filing.
08:14 EDTWFCWells Fargo reports Q4 home lending originations of $44B
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08:11 EDTWFCWells Fargo released $250M from allowance for credit losses in Q4
08:10 EDTWFCWells Fargo CFO says credit quality continued to improve in Q4
Wells Fargo CFO John Shrewsberry said, “Our performance in the fourth quarter was a great example of the benefit of our diversified business model and reflected a continuation of the solid results we generated all year. Compared with the prior quarter, we increased deposits and grew commercial and consumer loans while maintaining our risk and pricing discipline. Revenue increased as net interest income benefited from loan growth and the prudent deployment of our liquidity. Fee income remained strong and diversified. Credit quality continued to improve. We also maintained strong capital and liquidity, and returned more capital to shareholders in the quarter."
08:09 EDTWFCWells Fargo reports Q4 net interest margin 3.04%
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08:03 EDTWFCWells Fargo reports Q4 net charge-offs $735M, provision for credit losses $485M
Reports Common Equity Tier 1 ratio under Basel III of 10.44%. Reports Q4 ROE 12.841%, ROA 1.36%.
08:01 EDTWFCWells Fargo reports Q4 EPS $1.02, consensus $1.02
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