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Stock Market & Financial Investment News

News Breaks
December 18, 2012
09:38 EDTSTT, CS, BLKCredit Suisse loses State Street as bidder for ETF unit, Reuters says
State Street (STT) has dropped out of the bidding for Credit Suisse's (CS) European ETF business, which is still being looked at by BlackRock (BLK), according to sources reporting to Reuters. It could not be determined if BlackRock is competing with other bidders, the report added. Reference Link
News For CS;STT;BLK From The Last 14 Days
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May 5, 2015
06:39 EDTCSCredit Suisse drops waiver request due to SEC opposition, Reuters says
Credit Suisse dropped a request for a waiver that would have let it raise capital without SEC approval, after the agency told the bank the request would be denied, according to Reuters, which cited unnamed sources. The bank lost the privilege of being able to raise capital without SEC approval for three years because criminal charges were lodged against it, the news service stated. The criminal charges, which alleged that the bank had helped wealthy Americans evade taxes, were dropped in the wake of a $2.5B settlement, the news service stated. Reference Link
May 4, 2015
06:17 EDTCSInvestor says UBS and Credit Suisse may combine investment banks, Reuters says
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May 1, 2015
06:54 EDTCSPrudential plc names Mike Wells to succeed Tidjane Thiam as CEO
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06:13 EDTBLKJawbone raises $300M in funding from BlackRock, Re/code reports
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April 30, 2015
06:25 EDTCSEuro zone bank loans rose in March, NY Times says
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April 29, 2015
05:56 EDTBLKBlackRock presses shareholders right to nominate directors, Financial Times says
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April 24, 2015
09:52 EDTSTTState Street says legal accrual may not cover all costs
Says low interest rate continuing to negatively impact NIR, NIM. Says continues to experience high levels of deposits. Says has begun charging customers on deposits. Says Q1 ETF outflows were "seasonal." Says legal accrual may not cover all costs. Says stronger U.S. dollar adversely impacted total fee revenue by approximately $83M vs. 1Q14. If interest rates stay static, sees FY15 operating-basis NIR $2.07B-$2.17B; if interest rates rise, sees operating-basis NIR $2.15B-$2.25B. Says remains well capitalized. Says returning capital to shareholders a "top priority." Says leverage ratios "near-term binding constraint." Says NIR headwinds likely to continue. Comments made on the Q1 earnings conference call. State Street is down 1.41% to $77.09 in morning trading.
08:47 EDTSTTState Street says positive operating leverage remains long-term goal
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08:11 EDTSTTState Street still sees FY15 operating-basis total fee revenue growth 4%-7%
Says long-term operating-basis financial goals include: EPS growth of 10%-15%, revenue growth of 8%-12% and ROE of 12%-15%. Says Q1 EPS decreased from 4Q14 primarily driven by the seasonal deferred incentive compensation expense for retirement-eligible employees and payroll taxes. Continues to see 2015 operating-basis NIR to perform as described in February. Says "no change" to target common equity tier 1 ratio of 10%. Says prudently planning capital actions to be compliant with future phases in regulatory requirements. Says outlook "unchanged" from its investor day in February: Sees FY15 operating-basis total fee revenue growth 4%-7% from FY14, sees operating-basis total fee revenue growth to outpace operating-basis expense growth by at least 200bps vs. 2014. Sees NIR headwinds continuing. Sees FY15 operating-basis effective tax rate of 30%-32%. Comments from slides that will be presented on the Q1 earnings conference call.
06:25 EDTSTTState Street reports Q1 operating EPS $1.17, consensus $1.05
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April 23, 2015
15:01 EDTSTTNotable companies reporting before tomorrow's open
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April 22, 2015
14:02 EDTBLKBlackRock Infrastructure acquires 90% interest in 80MW wind portfolio in Iowa
A fund managed by BlackRock Infrastructure Investment Group has purchased a 90% interest in an 80MW Wind Portfolio consisting of the 42.5MW Elk and 37.5MW Hawkeye Wind Projects, located in Iowa from RPM Access. The projects began commercial operations in December 2011, and October 2012, respectively and comprise a total of thirty-two 2.5MW Nordex turbines. The Portfolio interconnects with the ITC Midwest transmission system within the Mid-continent Independent System Operator market. All of the output of the Portfolio is sold to Central Iowa Power Cooperative pursuant to long-term power purchase agreements.
April 21, 2015
05:45 EDTCSCredit Suisse sees momentum to carry over from Q1 into Q2
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05:45 EDTCSCredit Suisse reports Q1 net income CHF 1.05B vs. CHF 859M
Reports Q1 core pre-tax income of CHF 1.54B. Reports Q1 revenue CHF 6.67B vs. CHF 6.47B last year. Reports look-through CET1 ratio of 10% as of the end of Q1.

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