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Stock Market & Financial Investment News

News Breaks
May 29, 2014
07:32 EDTCS, NDAQ, TROWCFA Society of Philadelphia to hold a panel discussion
High Frequencing Trading Panel consisting of VP Brooks of T. Rowe Price, Managing Director Tahan of Credit Suisse and VP West of NASDAQ OMX discuss high-frequency trading in Philadelphia on May 29 at 12 pm.
News For CS;NDAQ;TROW From The Last 14 Days
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July 31, 2014
05:32 EDTCSCredit Suisse says responding to inquiries on trading systems
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July 30, 2014
08:23 EDTNDAQSEC may consider rule change, allowing IEX to be exchange, Reuters says
IEX Group, which was described in Michael Lewis' book "Flash Boys" as a place for investors to place buy and sell orders without worrying that they are being "front-run" by high-speed traders, may be aided in its goal of becoming a full-fledged stock exchange as the SEC may revisit rules that require the fastest possible execution of securities trades, said Reuters, citing a person familiar with the SEC's thinking. Publicly traded stock exchange owners include NASDAQ (NDAQ), IntercontinentalExchange (ICE) and BATS Global Markets (BATS). Reference Link
July 28, 2014
06:48 EDTNDAQNASDAQ appoints BNY Mellon to provide U.S. Treasury clearing, custody
BNY Mellon (BK) has been appointed by NASDAQ OMX Clearing (NDAQ) to provide EMIR, or European Market Infrastructure Regulation, compliant clearing and custody services for U.S. Treasuries within the NASDAQ OMX Group's new European clearing business. The new mandate extends BNY Mellon's existing relationship with NASDAQ OMX - it was appointed by the exchange as a cash settlement bank in 2013 - and reinforces BNY Mellon's position as a leading custodial service provider to central counterparties, or CCPs. Both EMIR and the Dodd-Frank legislation in the U.S. mandate the migration of over-the-counter derivatives from bilateral clearance to CCPs.
July 25, 2014
06:40 EDTCSLoan write down standards changed for non-U.S. banks, NY Times says
A new accounting rule will enable banks outside of the U.S. to write down the value of loans earlier but could cause loans to become less attractive for those banks, according to The New York Times. The rule was issued by the International Accounting Standards Board, whose guidelines are followed in more than 100 countries but not in America, the newspaper stated. Publicly traded European banks include Banco Santander (SAN), Barclays (BCS), Credit Suisse (CS), Deutsche Bank (DB), HSBC (HSBC), ING Groep (ING), Lloyds Banking (LYG), Royal Bank of Scotland (RBS) and UBS (UBS).Reference Link
July 24, 2014
07:37 EDTTROWT. Rowe Price: US recovery modest, but strong enough to repair balance sheets
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07:36 EDTTROWT. Rowe Price reports Q2 EPS $1.13, consensus $1.12
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07:04 EDTNDAQNASDAQ lowers 2014 non-GAAP operating expense guidance
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07:02 EDTNDAQNASDAQ reports Q2 EPS 70c, consensus 68c
Reports Q2 revenue $523M, consensus $517.16M. The company said non-transaction based revenues were 74% of total Q2 net revenues, and increased 19% from the prior year quarter.
July 23, 2014
07:23 EDTCSCredit Suisse urged to make deeper job cuts, FT says
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July 22, 2014
07:24 EDTCSCredit Suisse down 2.2% after reporting Q2 results
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07:17 EDTCSNational Association for Business Economics to hold a seminar
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06:02 EDTCSCredit Suisse says on track to exceed 10% CET1 ratio by year-end
Credit Suisse said it is on track to exceed 10% CET1 ratio by year-end, including continued accrual of cash dividend for 2014.
06:01 EDTCSCredit Suisse to exit commodities trading business
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05:59 EDTCSCredit Suisse reports Q2 net income CHF (700M) vs. CHF 1.05B last year
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July 21, 2014
17:47 EDTCSAstoria Financial to sell non-performing residential mortgages to Credit Suisse
Astoria Financial (AF) announced that the bank had entered into an agreement to sell certain non-performing residential mortgage loans, or NPL, to Credit Suisse (CS) for consideration of approximately $186M. The NPL Sale is expected to close on or about July 31, subject to usual and customary closing conditions. In anticipation of the NPL Sale, such non-performing loans were designated as held-for-sale as of June 30 and were written down from their carrying value of approximately $195M to their estimated fair value of $186M. As a result, the company recorded an $8.7M charge-off and a $5.7M loan loss release in Q2.
13:18 EDTCSCredit Suisse, Fidelity sign agreement to offer great access to IPOs
Fidelity Investments and Credit Suisse Securities announced an agreement that provides Fidelity's brokerage clients the opportunity to participate in initial public offerings and follow-on equity offerings underwritten by Credit Suisse. The agreement expands Credit Suisse's potential investor base to Fidelity's millions of retail brokerage customers, as well as investors who work with advisors through Fidelity's registered investment advisor, correspondent broker/dealer and family office clients. A 2013 Fidelity survey of 2,500 affluent and high-net-worth clients indicated that they had significant interest in IPOs. More than 50% of those surveyed currently buy or are open to investing in IPOs.
06:34 EDTCSJulius Baer CEO sees 'fair, equitable' fix to U.S. investigation, Reuters says
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July 20, 2014
11:58 EDTTROWCaterpillar, five others should benefit from global recovery, Barron's says
Caterpillar (CAT), Teradata (TDC), Kennametal (KMT), Capital One Financial (COF), T. Rowe Price Group (TROW), and Chesapeake Energy (CHK) are all relatively cheap and should benefit from global recovery, Barron's contends in its cover article. Reference Link

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