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Stock Market & Financial Investment News

News Breaks
January 21, 2014
07:37 EDTCMAComerica decreases Q4 net income result by 15c after unfavorable jury verdict
Comerica issued revised 2013 results based on an unfavorable Montana jury verdict. The Montana litigation in which Comerica Bank was a third-party defendant, was tried before the Montana Second District Judicial Court for Silver Bow County in Butte, Montana. The claims underlying the lawsuit against the Bank grew out of an initial $9M revolving line of credit loan extended by the Bank to Masters Group International that was subsequently increased to $10.5M and later paid in full through collection actions taken by the Bank following a default by Masters. Following the jury's decision on the case, Comerica increased its reserve for litigation and decreased incentive compensation expense based on the revised results, which resulted in a decrease in net income of $28M, or 15c per share, for the fourth quarter 2013. Comerica reiterates its previously stated outlook for 2014, excluding the impact of this event. Net income decreased by 15c per share to 62c per share in Q3 compared to the previously reported net income of 77c per share.
News For CMA From The Last 14 Days
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April 17, 2015
06:46 EDTCMAComerica sees FY15 average loan growth consistent with FY14
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06:43 EDTCMAComerica reports Q1 EPS 73c, consensus 73c
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April 16, 2015
15:23 EDTCMANotable companies reporting before tomorrow's open
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April 6, 2015
10:02 EDTCMAOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: AGCO (AGCO) downgraded to Sell from Hold at Deutsche Bank... CONSOL (CNX) downgraded to Hold from Buy at Deutsche Bank... Catamaran (CTRX) downgraded to Market Perform from Outperform at BMO Capital... Comerica (CMA) downgraded to Neutral from Buy at Guggenheim... Gannett (GCI) downgraded to Market Perform from Outperform at FBR Capital... Magnum Hunter (MHR) downgraded to Hold from Buy at Wunderlich... Qualcomm (QCOM) downgraded to Market Perform from Outperform at FBR Capital... Regions Financial (RF) downgraded to Neutral from Buy at Guggenheim... SAP (SAP) downgraded at Wells Fargo... Sanderson Farms (SAFM) downgraded to Underweight from Sector Weight at KeyBanc... Scorpio Tankers (STNG) downgraded to Neutral from Accumulate at Global Hunter... Simpson Manufacturing (SSD) downgraded to Neutral from Buy at DA Davidson... Skyworks (SWKS) downgraded at Stephens... TripAdvisor (TRIP) downgraded to Hold from Buy at Needham... Western Union (WU) downgraded to Neutral from Positive at Susquehanna... Zillow Group (Z) downgraded to Equal Weight from Overweight at Barclays.
07:22 EDTCMAComerica downgraded to Neutral from Buy at Guggenheim
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