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Stock Market & Financial Investment News

News Breaks
June 27, 2014
07:15 EDTAXP, WFC, C, MA, JPM, COF, V, BACLenders take on more card risk as issuance to subprime borrowers rises, WSJ says
The number of credit cards issued by banks and other lenders to subprime borrowers jumped 39% compared to the prior year in the first quarter to 3.7M, rising to the highest level since 2008, said The Wall Street Journal, citing data from Equifax. Large U.S. banks that issue credit cards include Capital One (COF), Citibank (C), Bank of America (BAC), JPMorgan (JPM) and Wells Fargo (WFC). Operators of card payment processing networks include Visa (V), MasterCard (MA) and American Express (AXP). Reference Link
News For COF;C;BAC;JPM;WFC;V;MA;AXP From The Last 14 Days
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November 11, 2014
11:56 EDTBACAmerican Commercial weighs sale with value of over $1B, Financial Times says
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10:00 EDTCOF, JPMOn The Fly: Analyst Downgrade Summary
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09:37 EDTCActive equity options trading
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07:14 EDTCJudge allows Citigroup to process next Argentina bond payout, Reuters reports
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07:06 EDTWFCJinkoSolar subsidiary signs $20M credit agreement with Wells Fargo Bank
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07:00 EDTCOFCapital One downgraded to Neutral from Buy at Nomura
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06:59 EDTBACBank of America's head of FICC trading to retire by year-end, WSJ reports
Bank of America's head of global fixed income, currencies and commodities trading trading, David Sobotka, will retire by year-end, the Wall Street Journal reports, citing an internal memo sent to employees. Sobotka is planning to take some time off before deciding on his next steps. Sources say BofA will name Sobotka's replacement by the end of the year. Reference Link
06:39 EDTJPMJPMorgan downgraded on valuation at Keefe Bruyette
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05:58 EDTVStocks with implied volatility below IV index mean; PCLN V
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05:47 EDTJPMJPMorgan downgraded to Market Perform from Outperform at Keefe Bruyette
Keefe Bruyette downgraded JPMorgan to Market Perform with a $64 price target.
November 10, 2014
15:54 EDTV, MAVisa, MasterCard could be hurt by new Canadian credit card rules, WSJ says
Canada is preparing to announce broad changes to its code of conduct for the credit- and debit-card industry, which could make it the first country to give merchants the right to reject mobile payments through Visa (V) and MasterCard (MA) even if the merchants accept their physical cards, said The Wall Street Journal, citing a draft copy of rules that could be announced this week. Reference Link
15:17 EDTV, AXP, JPMCFPB may require added disclosures on prepaid cards, WSJ says
The Consumer Financial Protection Bureau is expected to propose new rules later this week that will require more disclosure for prepaid debit cards and cracking down on allowing consumers to spend more money on the cards than they have, according to The Wall Street Journal, citing people familiar with the matter. The rules come as traditional financial institutions, such as JPMorgan (JPM) and American Express (AXP) have moved into the business and the industryís biggest players donít allow overdrafts so it is unclear whether the new rules will dent industry profits, the report said. Green Dot (GDOT) also does not permit overdrafts and Visa (V) recently excluded overdraft abilities in guidelines for its prepaid cards, the report added. Reference Link
15:07 EDTAXPRegulators may require added disclosures on prepaid cards, DJ says
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07:12 EDTV, WFCCA Technologies to hold a conference
CA World 2014 is being held in Las Vegas on November 9-12.
07:08 EDTCOFCredit Suisse to hold a conference
2014 Boston Financials 1:1 Conference to be held in Boston on November 10-11.
06:53 EDTBACBank of America, U.S. Bancorp settle bond trustee class action, Reuters says
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06:46 EDTBAC, JPM, C, WFCRegulators set new capital buffer rule for banks, Reuters reports
Global banks should have buffers of bonds or equity worth 16%-20% of their risk-weighted assets, beginning in January 2019, The Financial Stability Board decided, according to Reuters. The board said the buffer would prevent the need for government bailouts, the news service explained. Publicly traded global banks include Bank of America (BAC), Citigroup (C), Goldman Sachs (GS), JPMorgan (JPM), Morgan Stanley (MS), U.S. Bancorp (USB) Wells Fargo (WFC), Banco Santander (SAN), Barclays (BCS), Credit Suisse (CS), Deutsche Bank (DB), HSBC (HSBC), ING Groep (ING), Lloyds Banking (LYG), RBS (RBS) and UBS (UBS). Reference Link
06:37 EDTCSumitomo Mitsui in lead for Citigroup's Japan retail operations, WSJ reports
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06:18 EDTC, JPMUBS to settle misconduct allegations at precious metals trading unit, FT reports
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November 9, 2014
13:00 EDTBACBofA looks for additional SEC sanctions to be waved, Bloomberg says
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