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Stock Market & Financial Investment News

News Breaks
November 12, 2012
13:55 EDTDB, FNMA, FMCC, BAC, JPM, UBSDeutsche Bank's bid to dismiss FHFA lawsuit rejected by judge, Reuters reports
Deutsche Bank's (DB) bid to dismiss a lawsuit by the FHFA accusing it of misleading Fannie Mae (FNMA) and Freddie Mac (FMCC) has been rejected by a U.S. judge, Reuters reports. The judge previously refused to dismiss FHFA lawsuits against Bank of America's (BAC) Merrill Lynch, JP Morgan (JPM) and UBS (UBS) over Fannie Mae and Freddie Mac mortgage losses. Reference Link
News For DB;FNMA;FMCC;BAC;JPM;UBS From The Last 14 Days
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July 15, 2014
07:08 EDTJPMJPMorgan CEO says saw encouraging signs toward end of Q2
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07:06 EDTJPMJPMorgan reports Q2 Basel III Common Equity Tier 1 ratio 9.8%
Reports Common Equity Tier 1 of $161B, or ratio of 9.8%. Reports Firm Supplementary Leverage Ratio of 5.4%. Reports "core loans" up 8% compared with the prior year. Consumer & Community Banking: average Consumer & Business Banking deposits up 9%; credit card sales volume up 12%; record client investment assets up 19%; record Business Banking loan originations up 46% Corporate & Investment Bank: maintained #1 ranking for Global Investment Banking fees with 8.2% wallet share YTD; assets under custody up 14%. Commercial Banking: period-end loan balances up 9%, driven by 14% growth in Commercial Real Estate; gross investment banking revenue with Commercial Banking clients up 25%. Asset Management: twenty-first consecutive quarter of positive net long-term client flows; record client assets up 15%; record loan balances up 17%.
07:05 EDTJPMJPMorgan reports headcount down 8,871 to 245,192
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07:04 EDTJPMJPMorgan reports Q2 provision for credit losses $692M
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07:02 EDTJPMJPMorgan says Q2 results include $500M after-tax, or 13c, legal expense
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07:01 EDTJPMJPMorgan reports Q2 adjusted EPS $1.46, consensus $1.29
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06:19 EDTJPMJPMorgan reports June net charge losses 2.84% vs. 3.05% last month
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July 14, 2014
15:24 EDTJPMNotable companies reporting before tomorrow's open
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14:40 EDTJPMJPMorgan July 56.5 straddle priced for 2.2% move into Q2
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08:01 EDTJPMJP Morgan July volatility increases into Q2 and outlook
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July 11, 2014
09:09 EDTFMCC, FNMAOn The Fly: Pre-market Movers
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07:20 EDTBAC, JPMBig banks seen losing reserve release cushion, Reuters says
Releasing loan-loss reserves has helped U.S. big banks weather a period of weak loan demand and lower fee income, but Q2 results from the banks may see less benefit from the practice as loss rates and reserves near their lower limits, said Reuters. Publicly traded companies in the space include Bank of America (BAC), Citigroup (C), Goldman Sachs (GS), JPMorgan (JPM), Morgan Stanley (MS), U.S. Bancorp (USB) and Wells Fargo (WFC). Reference Link
July 10, 2014
18:44 EDTFNMA, FMCCGenworth responds to GSE-sponsored PMI eligibility requirements
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17:23 EDTFMCC, FNMAEssent Group comments on proposed PMI eligibility requirements
Essent Group (ESNT) reported that the Federal Housing Finance Agency released for public input the proposed Private Mortgage Insurer Eligibility Requirements. The PMIERs represent the standards by which private mortgage insurers are eligible to provide mortgage insurance on loans owned or guaranteed by Fannie Mae (FNMA) and Freddie Mac (FMCC). Assuming the PMIERs are enacted as proposed, Essent's mortgage insurance subsidiary, Essent Guaranty would be in compliance with the new capital adequacy requirements in the PMIERs based on financial information as of March 31. “We commend FHFA, Fannie Mae and Freddie Mac for all of their work in revising the PMIERs,” said Mark Casale, Chairman and CEO. “Updating the PMIERs is important to the health of the housing finance system in general, and the mortgage insurance industry in particular. We believe that the proposed risk-based capital adequacy framework in the PMIERs is fundamentally sound. The PMIERs will serve as an important set of national standards that give industry counterparties added confidence in the claims paying capacity of private mortgage insurance companies, including Essent.” “Based in part on Essent’s strong capital levels and the exceptional credit quality of our portfolio,” Casale added, “we believe that Essent is well positioned under the PMIERs to continue to serve the growing demand for private mortgage insurance.”
17:08 EDTFNMA, FMCCMortgage insurers trading lower after FHFA proposes tighter capital rules
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07:08 EDTDB, UBSECB keeps tight grip on banks with health check results, Reuters says
The European Central Bank is targeting to keep a tight grip banks in the final phase of a balance sheet health check in October, giving them only 48 hours to review the test results before publishing them, according to Reuters, citing two people familiar with the matter. The assessment will look into banks’ balance sheets and measure their ability to handle shock and stress. 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).
06:56 EDTBACBank of America July volatility elevated into Q2 and capital outlook
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06:29 EDTBACBank of America requests 5c dividend reapproval, WSJ reports
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06:21 EDTUBS, JPMJPMorgan appoints Li as new China head, Reuters says
JPMorgan Chase (JPM) said it has appointed former UBS (UBS) banker David Li as the new head of its China division to replace top China banker Fang Fang who left the firm in March, according to Reuters, citing a statement from the U.S. company. Reference Link
06:16 EDTBACHolder refuses meeting with BofA head, Reuters says
Attorney General Eric Holder has formally decided to not meet with Bank of America CEO Brian Moynihan to discuss a multibillion-dollar agreement, as talks to resolve investigations into shoddy mortgage securities sold by the firm and its divisions are delayed, according to Reuters, citing people familiar with the matter. Sources said that no discussions between the bank and the U.S. Department of Justice have occurred since the second week in June. Reference Link
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