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Stock Market & Financial Investment News

News For CVC;JPM;C From The Last 14 Days
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March 26, 2015
16:01 EDTCOptions Update; March 26, 2015
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14:38 EDTCSumitomo Mitsui Trust planning to buy Citi Cards Japan for $332M, Nikkei says
Sumitomo Mitsui Trust Bank is planning to buy Citigroup's credit card unit in Japan for $332M, according to the Nikkei. Reference Link
09:02 EDTCGoodyear Tire and Citi Retail Services announce renewal of credit card agreement
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08:17 EDTC, JPMSEC Chairwoman proposes new 'dark pool' regulation, NY Post says
Securities and Exchange Commission Chairwoman Mary Jo White proposed new regulation Wednesday that would require high-frequency traders to register with the Financial Industry Regulatory Authority and provide the agency with a daily paper trail, reports the New York Post. The Post notes that there is a 60-day comment period before any SEC rule is finalized. Publicly traded companies in the space include Bank of America (BAC), Citi (C), Goldman Sachs (GS), JPMorgan (JPM), Morgan Stanley (MS), U.S. Bancorp (USB) and Wells Fargo (WFC). Reference Link
March 25, 2015
14:46 EDTCArgentina's economy minister says Citigroup bond deal illegal, Reuters says
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09:02 EDTJPMCitizens names Donald McCree as vice chairman, head of commercial banking
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March 24, 2015
16:00 EDTCOptions Update; March 24, 2015
iPath S&P 500 VIX Short-Term Futures down 10c to 25.14 Option volume leaders: AAPL TSLA TWTR GILD FB AMAT GOOG C MRK GILD according to Track Data.
07:45 EDTJPM, CMetLife CEO letter may be early sign of bank earnings headwinds, WSJ says
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March 23, 2015
09:44 EDTCCiti fires two over inflation trading error, Bloomberg says
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08:53 EDTCAmazon VP and General Manager of Payments departs, TechCrunch says
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07:19 EDTCCapital Link to hold a forum
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March 22, 2015
18:05 EDTCCitigroup authorized to process Argentine bond payments, Reuters says
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17:10 EDTCCiti shares could rise faster, Barron's says
Citi shares have remained relatively flat and shares could rise a little faster as the company continue to improve, Barron's argues in a follow up article. Reference Link
March 20, 2015
16:00 EDTCOptions Update; March 20, 2015
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10:26 EDTCVCCablevision call activity attributed to takeover speculation
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10:07 EDTCVCHigh option volume stocks
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09:59 EDTCVCCharter may have interest in Cablevision 'at some point,' says Detwiler
Detwiler Fenton believes there is truth to last week's reports of Charter (CHTR) being in talks to acquire Bright House Networks. In addition, the firm says its checks indicate Charter may have interest in buying Suddenlink Communications and Cablevision (CVC) "at some point" as a part of a lager acquisition strategy. Detwiler adds Charter's potential deal strategy assumes Comcast's (CMCSA) bid for Time Warner (TWC) wins regulatory approval. Should the deal not get approved, Detwiler believes Charter will turn its attention back to Time Warner.
09:37 EDTCVCRumor: Cablevision strength attributed to takeover speculation
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March 19, 2015
16:01 EDTCOptions Update; March 19, 2015
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15:29 EDTJPMJPMorgan execs 'brace' for potential investment/commercial bank cuts, FBN says
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12:29 EDTJPMJudge dismisses lawsuit over $13B JPMorgan-Justice Dept settlement, Reuters says
A federal judge has dismissed a lawsuit that sought to block a $13B settlement reached between JPMorgan and the U.S. Justice Department over mortgage loans, reports Reuters. Judge Beryl Howell accepted a motion by the Justice Department to dismiss the lawsuit, which argued the non-profit group Better Markets lacked standing to sue. Howell said, "The plaintiff has failed to meet its burden to show it has suffered an injury in fact." Reference Link
11:53 EDTC, JPMU.S. banks face headwinds in unloading oil loans, WSJ says
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09:06 EDTCCiti Retail Services extends long term consumer relationship with Office Depot
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07:15 EDTCCiti CEO tells shareholders 2015 targets 'within reach,' Reuters reports
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06:06 EDTCCiti files lawsuit over Swiss franc surge, Reuters says
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March 18, 2015
13:56 EDTCArgentina to bar Citi from exiting custody business, Reuters says
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08:25 EDTJPMSamson near deal for covenant breach waiver, NY Post says
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07:44 EDTJPMJPMorgan to purchase $45B of mortage service rights from Ocwen, NY Post says
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March 17, 2015
16:41 EDTJPMJPMorgan formally authorizes $6.4B equity repurchase program
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16:00 EDTCOptions Update; March 17, 2015
iPath S&P 500 VIX Short-Term Futures down 11c to 27.30. Option volume leaders: AAPL RIG MGM HTZ TWTR TSLA CY KO NFLX C according to Track Data.
14:37 EDTJPM, CCiti, Barclays near $800M settelement of forex suit, WSJ says
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13:10 EDTJPMJPMorgan could acquire Ocwen's Fannie MSR portfolio, IMF reports
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12:26 EDTCCitibank to exit custody business in Argentina following ruling, WSJ reports
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07:15 EDTCCiti price target raised on positive news flow at Deutsche Bank
Deutsche Bank raised its price target for Citi (C) shares to $56 from $54 citing recent positive news flow around the sale of OneMain, the credit card deal with Costco (COST) and last week's stress test results. Deutsche notes the stock still trades at a 6% discount to tangible book. It keeps a Buy rating on Citi.
05:34 EDTJPMJPMorgan providing financial advice to UK government to fight dementia
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March 16, 2015
16:00 EDTCOptions Update; March 16, 2015
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15:24 EDTCVCCablevision to provide HBO NOW via Optimum Online
Cablevision (CVC) and Time Warner's (TWX) Home Box Office announced that they have reached an agreement to offer standalone streaming service HBO NOW to Optimum Online customers via the internet. Optimum is the first cable provider to partner with HBO to offer the new service, which is expected to launch in April in time for the fifth season of Game of Thrones, the companies said. Cablevision plans to provide pricing and other particulars for HBO NOW in the coming weeks. Terms of the agreement were not disclosed. Apple (AAPL) and Time Warner announced on March 9 that HBO NOW will premier on Apple devices in April.
14:09 EDTCCiti reports February credit loss 2.55% vs. 2.30% last month
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10:07 EDTCVCHigh option volume stocks
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08:28 EDTJPMJPMorgan reports February net credit losses 2.42% vs. 2.53% last month
Reports February delinquency rate 1.35% vs. 1.34% last month.
06:20 EDTJPMU.S.poised to charge JPMorgan hacking suspects, NY Times says
U.S. authorities probing last summer's cyberattack on JPMorgan are increasingly confident that they will be able to file criminal charges against perpetrators of the attack in coming months, according to The New York Times, which cited unnamed sources who have been briefed on the investigation. Several of the suspects are located in countries with whom the U.S. has extradition treaties, the newspaper explained. Reference Link
March 13, 2015
16:01 EDTCOptions Update; March 13, 2015
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15:40 EDTJPM, CDOJ sets $1B staring point in forex settlement talks with banks, Bloomberg says
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15:22 EDTJPM, CDOJ starts forex manipulation settlement talks at $1B per bank, Bloomberg says
Barclays (BCS), Citi (C), JPMorgan (JPM), RBS (RBS) and UBS (UBS) are said to be probed by U.S. over currency manipulation, Bloomberg says.
09:20 EDTCVCBofA/Merrill media/telecom analysts hold analyst/industry conference call
Media & Telecom Analyst Reif-Cohen and Barden, along with Matthew Brill, Pratner at Latham & Watkins LLP, discuss the FCC Open Internet Order on an Analyst/Industry conference call to be held on March 13 at 11 am.
05:57 EDTCJudge blocks Citi from processing Argentine bond payment, Financial Times says
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March 12, 2015
16:01 EDTCOptions Update; March 12, 2015
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12:29 EDTCOn The Fly: Midday Wrap
Stocks on Wall Street were sharply higher at midday. A slight bounce in the euro overnight lifted overseas markets and U.S. stocks followed. Stock futures were higher during early pre-market trading, then strengthened further following the report of lower than expected retail sales figures for last month, which gave investors hope the Fed will wait longer to raise interest rates. ECONOMIC EVENTS: In the U.S., headline retail sales fell 0.6% in February compared to the prior month, missing expectations for an increase of 0.3%. Retail sales excluding autos and gas declined 0.2%, versus the consensus estimate for a month-over-month increase of 0.3%. Initial jobless claims fell to 289K in the week ended March 7, versus the consensus forecast for 305K first-time claims. Business inventories were flat in January, versus the consensus forecast for them to grow 0.1%. In Asia, the Bank of Korea cut rates for the third time since last August, lowering its base rate to the historical low level of 1.75%. The decision came as a surprise, more in terms of the timing than the cut itself. Data from China showed the nationís M2 money supply growth picked up in February and its banksí new loan creation came in higher than expected as well. COMPANY NEWS: Shares of Intel (INTC) fell 4% after the chip-making giant lowered its Q1 revenue outlook to $12.8B, plus or minus $300M, compared to the previous expectation of $13.7B, plus or minus $500M, citing weaker than expected demand for business desktop PCs and lower than expected inventory levels across the PC supply chain. Some other stocks levered to PCs also slid, with Microsoft (MSFT) declining 2% and Advanced Micro Devices (AMD) sliding 3.5%. Hewlett-Packard (HPQ) shares were up fractionally, despite Intel's news and the fact that Barclays downgraded HP's stock this morning to Equal Weight, saying the weak euro could impact demand for PCs and printers... Citi (C), American Express (AXP) and Regions Financial (RF) were identified by analysts as being among the winners following the Fed's recently completed Comprehensive Capital Analysis and Review, or CCAR. Analysts were more cautious on Bank of America (BAC), after the Fed identified deficiencies in the bank's capital planning process and ordered it to resubmit its plan, but allowed it to proceed with its capital plan in the meantime. MAJOR MOVERS: Among the notable gainers was Amarin (AMRN), which jumped 27% after H.C. Wainwright upgraded the stock to Buy and raised its price target for shares to $10 from $2.50, citing management's commitment to completing the Vascepa outcomes' study REDUCE-IT. Also higher was Lumber Liquidators (LL), which rose 12.5% after the company held a call to update on the impact that 60 Minutes' recent critical report has had on its business. As part of the call, the flooring retailer reported on its recent sales trends, gave Q1 guidance and said it believes its cash flow from operations and existing liquidity sources will be sufficient to fund operations and anticipated capital expenditures for the "foreseeable future." Among the noteworthy losers was ACADIA (ACAD), which dropped 25% after announcing that it will delay submitting its NUPLAZID NDA for the treatment of Parkinsonís disease psychosis by two or three quarters and reporting that its CEO has retired. Also lower following their first earnings reports since coming public was Box, Inc. (BOX), which dropped 15%. INDEXES: Near midday, the Dow was up 183.31, or 1.04%, to 17,818.70, the Nasdaq was up 26.68, or 0.55%, to 4,876.62, and the S&P 500 was up 18.56, or 0.91%, to 2,058.80.
10:46 EDTCCiti, American Express, Regions Financial seen as CCAR winners
Citi (C), American Express (AXP) and Regions Financial (RF) were identified by analysts as being among the winners following the Fed's recently completed Comprehensive Capital Analysis and Review, or CCAR. Analysts were more cautious on Bank of America (BAC) after the CCAR results were announced. WHAT'S NEW: Citi and Regions Financial were the biggest winners of the CCAR process, Deutsche Bank analyst Matt O' Connor wrote. Noting that Citi won approval to pay a quarterly dividend of 5c per share and buy back $7.8B of its shares, the analyst wrote that the figures were in-line with expectations or better than expected. Many investors probably were relieved by the news, the analyst stated. Addressing Regions Financial, O'Connor wrote that the bank's $875M share buyback plan was much higher than the $625M that Deutsche Bank had expected. The analyst had a mixed take on Bank of America. After the Fed identified deficiencies in the bank's capital planning process and ordered it to resubmit its plan, but allowed it to proceed with its capital plan in the meantime, the analyst wrote that the news was slightly disappointing. However, since some had worried that the Fed would reduce Bank of America's capital ratios when it exits parallel run, the news was positive overall for the bank, O'Connor wrote. Also upbeat on Citi and Regions was BMO Capital analyst Lana Chan, who predicted that Citi's stock should "re-rate" on the news and kept a $63 price target and Outperform rating on the shares. Regions Financial's buyback was 85% above Chan's forecast, she reported. The large size of the buyback indicates that the company believes its stock is undervalued, the analyst added. Bank of America "seems to have just squeaked by with a conditional pass," and its $4B share buyback plan "is more than a token," wrote Oppenheimer analyst Chris Kotowski . The analyst continued to recommend Bank of America's stock. American Express (AXP) was the "standout of the CCAR process," as it received permission for a total payout of over 100% to shareholders in 2015, Kotowski stated. The analyst, however, kept a Perform rating on AmEx shares. PRICE ACTION: In mid-morning trading, Citi jumped 3.2% to $54, Regions rallied 3.3% to $9.85, American Express added 1.5% to $80.62, and Bank of America slid 0.6% to $16.
09:35 EDTCActive equity options trading on open
Active equity options trading on open according to Track Data: AAPL C PBR POT MRVL AMAT MSFT TSLA X TWTR
08:50 EDTCCiti shares to re-rate after capital return approved, says BMO Capital
BMO Capital predicts that Citi's shares will "re-rate" after the Fed approved the bank's 5c per share dividend and $7.8B share buyback initiative. The firm keeps a $63 price target and Outperform rating on the stock.
07:44 EDTCDeutsche calls Citi, Regions biggest stress test winners
Deutsche Bank views Citi (C) and Regions Financial (RF) as the biggest winners coming out of the Federal Reserve's stress tests. Citi's non-objection, buybacks of $7.8B and a quarterly dividend of 5c were all in-line to better than expected, while Regions' buybacks of $875M was much higher than its $625M estimate, Deutsche points out. The firm believes KeyCorp (KEY), Morgan Stanley (MS) and SunTrust (STI) were also winners after announcing larger than expected buybacks. It views the results for Bank of America (BAC) as a "slight disappointment," but adds some investors may be relieved by the lack of rejection to the capital plan.
06:23 EDTCHSBC, Citi, others linked to foreign money laundering bank, WSJ says
HSBC (HSBC), Bank of America (BAC), Citi (C), and Deutsche Bank (DB) reportedly had correspondent-banking relationships with Banca Privada díAndorra, reports the Wall Street Journal, citing the Treasury Departmentís Financial Crimes Enforcement Network. The Treasury Department Tuesday labeled Banca Privada a "primary money-laundering concern" allegedly working with organized crime, and HSBC "immediately terminated" its relationship with the bank upon learning of the link, said a person familiar with the matter. The three other banks stated they will or have taken appropriate action, and the Treasury Department has not accused the firms of any wrongdoing. Reference Link
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