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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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October 14, 2014
09:40 EDTWFCWells Fargo sees operating within 55%-59% efficiency ratio range in Q4
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09:13 EDTWFCOn The Fly: Pre-market Movers
UP AFTER EARNINGS: Johnson & Johnson (JNJ), up 1%... Dominos Pizza (DPZ), up 2.7%. ALSO HIGHER: Citigroup (C), up 2.5% following earnings report, announcement of plans to exit consumer businesses in 11 markets... MagneGas (MNGA), up 14% after signing Letter of Intent with Pioneer Recycling... Skyworks (SWKS), up 6% after raising its outlook for Q4. Shares of peers Avago (AVGO), NXP Semiconductors (NXPI) and RF Micro Devices (RFMD) are also moving higher in pre-market trading after Skyworks pointed to "broad-based strength" of its business in raising its outlook... Halcon Resources (HK), up 6% after upgraded at KLR Group... Quantum (QTM), up 8.8% after issuing Q2 earnings guidance. LOWER: Wells Fargo (WFC), down 1.4% after reporting in-line Q3 earnings... JPMorgan (JPM), down 1.8% after Q3 headline earnings miss... Las Vegas Sands (LVS), down 1% following downgrade at BofA Merrill Lynch.
08:16 EDTWFCWells Fargo reports book value per share $31.55 at quarter end
Reports Q3 net interest margin 3.06%, down from 3.15% at June 30 and down from 3.39% in prior year period.
08:14 EDTWFCWells Fargo reports Q3 Home Lending orignations $48B
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08:09 EDTWFCWells Fargo continues to see signs of steadily improving economy
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08:08 EDTWFCWells Fargo reports $300M reserve release due to improved credit quality
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08:03 EDTWFCWells Fargo reports Q3 EPS $1.02, consensus $1.02
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October 13, 2014
15:24 EDTWFCNotable companies reporting before tomorrow's open
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13:40 EDTWFCWells Fargo October volatility increases into Q3 and guidance
Wells Fargo October call option implied volatility is at 31, November is at 20, January is at 19; compared to its 26-week average of 16 according to Track Data, suggesting large near term price movement into the expected release of Q3 results on October 14.
07:19 EDTWFCAmEx, Capital One profits seen boosted by credit card 'sweet spot,' WSJ says
Credit card players such as American Express (AXP) and Capital One (COF), as well as banks with significant card units like JPMorgan (JPM), stand to benefit from the U.S. card industry's "sweet spot" of moderate economic growth, low interest rates and consumers who are better managing payments while growing their spending, said The Wall Street Journal, which noted that consulting firm R.K. Hammer estimates U.S. card issuers' revenue will grow 9% this year to $158.6B. Other U.S. banks with credit card units include Bank of America (BAC), Citigroup (C), and Wells Fargo (WFC) and other card companies include Visa (V) and MasterCard (MA). Reference Link
06:44 EDTWFCRegulators seeking banks' auto loan data, Reuters reports
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00:04 EDTWFCBanking regulators want more disclosure on auto loans, Reuters says
Banking regulators are requesting that banks provide more details on their auto loan portfolios, says Reuters. Balances remaining on auto loans are rising and about a fifth of the loans are subprime, added Reuters. Publicly traded companies in the space include Bank of America (BAC), Citigroup (C), Capital One (COF), JPMorgan (JPM), U.S. Bancorp (USB) and Wells Fargo (WFC). Reference Link
October 12, 2014
13:03 EDTWFCBanks agree on derivatives procedures for future crisis scenario, WSJ says
Meeting at the Federal Reserve in Washington, top banking executives from 18 large U.S., European and Japanese banks agreed in principle to wait up to 48 hours before seeking to terminate derivatives contracts and collect associated payments from a troubled financial institution, says the Wall Street Journal. Publicly traded companies in the space include Bank of America (BAC), Citigroup (C), Goldman Sachs (GS), JPMorgan (JPM), Morgan Stanley (MS), U.S. Bancorp (USB) and Wells Fargo (WFC). Reference Link
October 10, 2014
10:01 EDTCHUYOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: 2U (TWOU) initiated with an Outperform at Pacific Crest... Bloomin' Brands (BLMN) initiated with an Outperform at BMO Capital... Brinker (EAT) initiated with a Market Perform at BMO Capital... Buffalo Wild Wings (BWLD) initiated with an Outperform at BMO Capital... Chipotle (CMG) initiated with a Market Perform at BMO Capital... Chuy's (CHUY) initiated with a Market Perform at BMO Capital... Darden (DRI) initiated with a Market Perform at BMO Capital... EMC (EMC) initiated with a Buy at Jefferies... EPR Properties (EPR) initiated with a Buy at BofA/Merrill... HP (HPQ) initiated with a Hold at Jefferies... IBM (IBM) initiated with an Underperform at Jefferies... McDermott (MDR) initiated with an In-Line at Imperial Capital... NetApp (NTAP) initiated with a Hold at Jefferies... New Residential (NRZ) initiated with a Neutral at Piper Jaffray... Nimble Storage (NMBL) initiated with a Buy at Jefferies... Noodles & Company (NDLS) initiated with an Outperform at BMO Capital... PDC Energy (PDCE) initiated with an Overweight at Stephens... Panera Bread (PNRA) initiated with a Market Perform at BMO Capital... Pioneer Natural (PXD) initiated with an Outperform at Imperial Capital... Resource America (REXI) initiated with a Buy at MLV & Co.... Rex Energy (REXX) initiated with an Overweight at Stephens... Seagate (STX) initiated with a Buy at Jefferies... Silicon Motion (SIMO) initiated with a Buy at Brean Capital... Texas Roadhouse (TXRH) initiated with a Market Perform at BMO Capital... W.P. Carey (WPC) initiated with a Neutral at BofA/Merrill... Wayfair (W) initiated with a Buy at Janney Capital...Western Digital (WDC) initiated with a Buy at Jefferies... Yelp (YELP) initiated with a Buy at Sterne Agee.
06:44 EDTWFCWells Fargo to pay $5M to settle discrimination allegations
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October 9, 2014
16:47 EDTCHUYChuy's initiated with a Market Perform at BMO Capital
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11:22 EDTWFCWells Fargo October volatility increases into Q3 and guidance
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October 8, 2014
07:20 EDTWFCCapital Link to hold a forum
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07:13 EDTWFCBank dealers agree to revised derivatives rules, FT reports
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06:56 EDTWFCBarclays lists several Large-Cap banks with the most Q3 upside
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