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Stock Market & Financial Investment News

News For CS;BLK;STT From The Last 14 Days
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March 2, 2015
10:00 EDTBLKOn The Fly: Analyst Downgrade Summary
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08:14 EDTBLK, STTBlackRock, State Street may lose advantage over newer ETF firms, Reuters says
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06:32 EDTCSLarge EU banks may come under scrutiny for reciprocity, WSJ says
The banking practice of reciprocity -- giving work to competitor banks in order to foster relationships or reward past deals -- may come under investigation by the U.K. Financial Conduct Authority, reports the Wall Street Journal, citing a person familiar with the regulator. The FCA believes the practice may be anticompetitive, but it hasn't yet determined the scope of its investigation into EU banks. Publicly traded companies in the space include 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
06:15 EDTBLKBlackRock downgraded to Neutral from Buy at Citigroup
Citigroup downgraded BlackRock (BLK) to Neutral citing the stock's proximity to its unchanged price target of $385. Citi's top pick in the Asset Managers space is Invesco (IVZ), followed by AllianceBernstein (AB) and OM Asset Management (OMAM), which it upgraded this morning to Buy.
February 27, 2015
10:17 EDTBLKBlackRock invests $300M in Jawbone, Fortune reports
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08:01 EDTCSWells Fargo fires Ocwen as bond overseer, hires Credit Suisse, Bloomberg says
Wells Fargo (WFC) has issued notices to Ocwen (OCN) terminating it as overseer of debt backing for two bond deals, reports Bloomberg, citing letters sent from Wells Fargo to bondholders. Wells Fargo stated in notices sent to bondholders that a majority of investors felt the move was correct. Wells Fargo plans to transfer responsibility to Credit Suisse (CS). Reference Link
February 26, 2015
10:02 EDTSTTState Street appointed by Hartford Funds to assist in providing custody services
State Street announced that it has been appointed by Hartford Funds to assist in providing custody and accounting services for $93.6B in assets under management, which includes $20.6B in mutual funds supporting variable annuity and investment products. Hartford Funds is a leading provider of mutual funds.
10:00 EDTCSOn The Fly: Analyst Initiation Summary
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10:00 EDTSTTOn The Fly: Analyst Downgrade SummaryStarz
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07:47 EDTSTTState Street downgraded at Credit Suisse
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06:29 EDTSTTState Street downgraded to Neutral from Outperform at Credit Suisse
06:15 EDTSTTState Street downgraded to Neutral from Buy at Citigroup
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05:32 EDTCSCredit Suisse initiated with an Underperform at Exane BNP Paribas
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February 24, 2015
13:07 EDTCSEU official: Euro banks shouldn't also go through Fed's stress test, WSJ says
Jonathan Hill, the European Unionís new financial markets chief, told The Wall Street Journal that he does not see a need for the U.S. to give stress tests to European banks that have already received health checks in Europe. Hill says banks across Europe are "properly and sensibly capitalized." The WSJ reported last week that the U.S. units of two European banks, Deutsche Bank (DB) and Banco Santander (SAN), are set to fail the Federal Reserve's stress tests, though they passed ECB stress tests last year. Reference Link
07:21 EDTCSSecurities Industry & Financial Markets Association to hold a conference
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06:15 EDTCSBanks probed for possible rigging of precious metals markets, WSJ reports
Officials in the U.S. are investigating at least 10 major banks for potential rigging of precious-metals markets, sources tell The Wall Street Journal. The DOJ's antitrust unit are investigating the price-setting process for gold, silver, palladium and platinum in London, while the CFTC has begun a civil investigation, with both agencies making requests for information, including a subpoena to HSBC (HSBC) from the CFTC. According to a source, Credit Suisse (CS), JP Morgan (JPM), UBS (UBS), Societe Generale (SCGLY), Bank of Nova Scotia (BNS), Barclays (BCS), Goldman Sachs (GS) and Deutsche Bank (DB) are also under investigation. Reference Link
February 23, 2015
09:35 EDTSTTState Street to hold analyst and investor day
Analyst and Investor Day to be held on February 25 at 12:30 pm. Webcast Link
February 20, 2015
16:40 EDTSTTState Street says legal accrual does not affect Q4, FY14 results
The increased legal accrual does not affect State Streetís previously announced operating-basis Q4 and FY14 financial results, which are not presented on a GAAP-basis.
16:39 EDTSTTState Street increases Q4 legal accrual to $115M
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10:20 EDTCSHigh option volume stocks
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