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Stock Market & Financial Investment News

News Breaks
April 23, 2014
06:59 EDTCMCIBC, private equity firms explore bids for Russell Investments, Reuters says
Canadian Imperial Bank of Commerce and two private equity firms are contemplating bids for Russell Investments, according to Reuters, citing several people familiar with the matter. The sources said that Northwestern Mutual Life Insurance, which owns Russell Investments, is aiming to find a buyer for both the investment management and indexes divisions of Russell for $3B. Reference Link
News For CM From The Last 14 Days
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February 26, 2015
14:29 EDTCMCIBC files to sell 10M preferred shares
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05:59 EDTCMCIBC raises quarterly dividend by C$0.03c to C$1.06 per share
05:59 EDTCMCIBC reports Q1 adjusted EPS $2.36, consensus $2.30
CIBC's Basel III Common Equity Tier 1 ratio at January 31, 2015 was 10.3%, and our Tier 1 and Total capital ratios were 12.1% and 15.0%, respectively, on an all-in basis compared with Basel III Common Equity Tier 1 ratio of 10.3%, Tier 1 capital ratio of 12.2% and Total capital ratio of 15.5% in the prior quarter. At the end of this quarter, CIBC's Basel III Leverage ratio was 3.8%, on an all-in basis..
February 25, 2015
06:48 EDTCMCIBC under heightened regulatory scrutiny, WSJ says
The Office of the Superintendent of Financial Institutions, Canada's lead bank regulator, has stated it will not approve certain acquisitions by Canadian Imperial Bank of Commerce until the company can prove its computer models accurately calculate risk, reports the Wall Street Journal, citing people familiar with the matter. CEO Victor Dodig has repeatedly emphasized his desire for U.S. private banking and wealth management acquisitions of up to $2B, but the company will be subjected to heightened oversight on any major deals until its risk models satisfy regulators. A bank spokesperson reassured the Journal that "CIBC is not under any restrictions as it relates to growth." Reference Link
February 20, 2015
10:01 EDTCMOn The Fly: Analyst Downgrade Summary
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05:57 EDTCMCIBC downgraded to Underperform from Market Perform at Keefe Bruyette
Keefe Bruyette downgraded CIBC to Underperform with a C$92 price target citing the challenging environment for Canadian banks.

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