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Stock Market & Financial Investment News

News Breaks
February 8, 2013
13:05 EDTWFC, TD, CITCIT Group explored possible sale, Reuters reports
CIT Group (CIT) has had talks with Toronto-Dominion (TD), Wells Fargo (WFC) and other banks about selling itself, though nothing came of the talks, according to a Reuters report that cites three people familiar with the company. Reference Link
News For CIT;TD;WFC From The Last 14 Days
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August 4, 2015
16:00 EDTWFCOptions Update; August 4, 2015
iPath S&P 500 VIX Short-Term Futures up 5c to 15.83 Option volume leaders: AAPL FB BAC NFLX TWTR DIS WFC INTC AAL XOM SUNE
11:43 EDTCITOn Deck Capital plunges to all-time low after guidance disappoints
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August 3, 2015
08:34 EDTCITCIT completes OneWest Bank acquisition
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July 31, 2015
06:40 EDTWFCU.S. banks prepared to take advantage of Euro lenders' cautions, WSJ says
U.S. banks are preparing to advance in the sector after reporting earnings, with executives touting the gloom coming from their European counterparts as a major opportunity to capitalize on their newfound advantage, the Wall Street Journal reports. On Thursday, Deutsche Bank (DB) CEO John Cryan said that the company must "shrink" its balance sheet, while Barclays (BCS) chairman John McFarlane said that Wall Street lenders are "an enormous threat" to Euro investment banks, the report says. On the other hand, Morgan Stanley (MS) chairman James Gorman said after reporting earnings last week that the company is poised to advanced in the debt trading sector, and that "there's a potential for, over a period of time, share gain for our business," the report says. In addition, Goldman Sachs finance chief Harvey Schwartz said that the company is "seeing potential big restructuring on the European side," the report adds. Publicly traded companies in the European space include Banco Santander (SAN), Barclays (BCS), Credit Suisse (CS), Deutsche Bank (DB), HSBC (HSBC), ING Groep (ING), Lloyds Banking (LYG), RBS (RBS) and UBS (UBS). Publicly traded companies in the U.S. 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
July 30, 2015
13:04 EDTWFCWells Fargo to withdraw from mortgage marketing service agreements with RE firms
Wells Fargo Bank, N.A. announced that it will withdraw from mortgage marketing services and desk rental agreements with real estate firms, builders and certain other referral sources. The decision was made as a result of increasing uncertainty surrounding regulatory oversight of these types of arrangements and as part of Wells Fargo’s ongoing efforts to simplify the process that customers experience as they weigh all of their choices when shopping for a mortgage. “Real estate firms and builders always have been—and will continue to be—very important to Wells Fargo’s retail mortgage operations, and we are exploring a number of new options for enhancing and strengthening those relationships over the long term,” said Franklin Codel, executive vice president for mortgage production at the company. “Because we value our strong relationships with real estate professionals and builders, the decision to exit these marketing services agreements was difficult, but we are taking this action to ensure that we continue to conduct our business in a way that represents the best interests of all of our customers and clients. We believe the best way to earn the relationship with real estate firms and builders is through timely, dependable service delivered by the best team in the business.” The decision is effective Aug. 1 and the wind down will occur over the following 90 days. Termination of these marketing services agreements is not expected to have a material impact on Wells Fargo’s total mortgage production.
July 29, 2015
10:03 EDTTDTD Bank announces routing agreement with MasterCard
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10:00 EDTWFCOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: 3D Systems (DDD) upgraded to Neutral from Underperform at Longbow... AK Steel (AKS) upgraded to Outperform from Neutral at Macquarie... Ally Financial (ALLY) upgraded to Outperform from Neutral at Credit Suisse... Amazon.com (AMZN) upgraded to Buy from Hold at Stifel... Arrow Electronics (ARW) upgraded to Buy from Underperform at CLSA... Beacon Roofing (BECN) upgraded to Buy from Neutral at CL King... Citrix (CTXS) upgraded to Outperform at Baird... Commvault (CVLT) upgraded to Buy from Hold at Jefferies... FireEye (FEYE) upgraded on positive checks, business mdoel changes at Oppenheimer... Hibbett Sports (HIBB) upgraded to Neutral from Underperform at Sterne Agee CRT... Integra LifeSciences (IART) upgraded to Outperform at Raymond James... M/A-COM (MTSI) upgraded to Buy from Hold at Needham... Norsk Hydro (NHYDY) upgraded to Neutral from Underperform at Exane BNP Paribas... NuVasive (NUVA) upgraded to Outperform from Market Perform at Northland... SM Energy (SM) upgraded to Outperform from Market Perform at Raymond James... Scorpio Bulkers (SALT) upgraded to Buy from Hold at Deutsche Bank... Sirius XM (SIRI) upgraded to Buy from Hold at Wunderlich... Sprouts Farmers Markets (SFM) upgraded to Neutral from Underperform at Longbow... Supervalu (SVU) upgraded to Equal Weight from Underweight at Morgan Stanley... Waters (WAT) upgraded to Outperform from Market Perform at Wells Fargo... Wells Fargo (WFC) upgraded to Buy from Neutral at Guggenheim... Williams-Sonoma (WSM) upgraded to Overweight from Neutral at JPMorgan... YRC Worldwide (YRCW) upgraded to Strong Buy at Raymond James.
10:00 EDTCITOn The Fly: Analyst Downgrade Summary
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07:21 EDTWFCWells Fargo upgraded to Buy from Neutral at Guggenheim
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07:21 EDTCITCIT Group downgraded to Neutral from Buy at Guggenheim
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July 28, 2015
06:36 EDTCITCIT Group reports total assets under continuing operations at June 30 were $46.7
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06:36 EDTCITCIT Group reports Q2 EPS 66c, consensus 66c
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July 27, 2015
06:52 EDTWFCWells Fargo currently testing mobile biometrics, WSJ reports
Wells Fargo is currently testing voice recognition and eye scanning in an effort to use biometrics technology to authenticate customers using their mobile applications, the Wall street Journal reports, citing comments from Steve Ellis, head of Wells Fargo's new Innovation Group. Wells Fargo's mobile development efforts include testing an assist using artificial intelligence technology and the bank expects to launch the software in 2016, the report says. Reference Link
July 23, 2015
18:57 EDTWFCWells Fargo 'poised for growth,' Barron's says
Wells Fargo is a "high quality" value stock and the "well-managed" company could be "poised for growth" given the potential for interest rate hikes before the end of the year, Barron's contends in its 'Weekday Trader' column. Reference Link
09:06 EDTWFCSEI Investments extends long-term realtionship with Wells Fargo
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July 22, 2015
09:01 EDTWFCWells Fargo names Pelos to oversee commercial, corporate, treasury mangement
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07:15 EDTCITCIT Group shares attractive ahead of earnings, says Stifel
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