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Stock Market & Financial Investment News

News Breaks
August 18, 2014
09:20 EDTRBS, GS, DBDeutsche Bank appoints Shannon Americas Chief Information Officer
Deutsche Bank (DB) announced two senior appointments to further strengthen its leadership team in technology and operations. Richard Shannon will join in October as Americas CIO, supporting the bank’s compliance and regulatory technology initiatives. Shannon will also hold the role of Co-Head of GTO Americas along with Scott Simon, who is currently Regional Head of GTO Americas. Shannon joins Deutsche Bank after 20 years with Goldman Sachs (GS). Scott Marcar will also join in October as Head of Information Technology Infrastructure, responsible for designing, operating and modernizing the bank’s infrastructure to drive greater security, stability and cost efficiency. Marcar joins Deutsche Bank after seven years with Royal Bank of Scotland (RBS).
News For DB;GS;RBS From The Last 14 Days
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December 15, 2014
16:15 EDTGSGoldman Sachs initiated with a Buy at Guggenheim
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December 11, 2014
13:40 EDTDB, RBSEuro zone banks accepted $160B in low interest loans, NY Times says
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10:17 EDTDB, GSFINRA fines Barclays Capital, Citigroup Global Markets, others $43.5M total
FINRA announced that it has fined 10 firms a total of $43.5M for allowing their equity research analysts to solicit investment banking business and for offering favorable research coverage in connection with the 2010 planned initial public offering of Toys"R"Us. FINRA fined the following firms. Barclays Capital (BCS) - $5M; Citigroup Global Markets (C) – $ 5M; Credit Suisse Securities (CS) – $5M; Goldman, Sachs & Co. (CS) – $5M; JP Morgan Securities LLC (JPM) – $5M; Deutsche Bank Securities Inc. (DB) – $4M; Merrill Lynch, Pierce, Fenner & Smith Inc. (BAC) – $4M; Morgan Stanley & Co., LLC (MS) – $4M; Wells Fargo Securities, LLC (WFC) – $4M; Needham & Company LLC – $2.5M. In addition, FINRA found that six of the 10 firms — Barclays, Citigroup, Credit Suisse, Goldman Sachs, JP Morgan and Needham — had inadequate supervisory procedures related to research analyst participation in investment banking pitches. Toys"R"Us and its sponsors offered each of the 10 firms various roles in the IPO but it eventually decided not to proceed with the offering. In settling this matter, the 10 firms neither admitted nor denied the charges, but consented to the entry of FINRA's findings.
07:49 EDTGSThe New York Times to hold a conference
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06:40 EDTDBNY investigating Deutsche Bank, Barclays currency trading, Reuters reports
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December 10, 2014
16:24 EDTGSGoldman Sachs reports 10.7% passive stake in Navios Maritime Midstream
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10:00 EDTGSOn The Fly: Analyst Downgrade Summary
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08:45 EDTRBSRBS to exit bond trading in Japan, WSJ reports
Royal Bank of Scotland Group plans to give up its primary dealership in the Japanese government bond market early next year as part of the bank’s strategy to scale back its fixed-income businesses due to increasing regulatory costs, said The Wall Street Journal, citing a person familiar with the matter. The move will likely result in "sizable" job cuts, the report added. Reference Link
06:57 EDTGSGoldman Sachs downgraded at Susquehanna
As previously reported, Susquehanna downgraded Goldman Sachs to Neutral from Positive. The firm downgraded shares based on full valuation and expectations the fall in energy prices will weigh on high yield and loan volumes into 2015, and pressure the debt portion of investing and lending in the secondary markets. Price target lowered to $200 from $218.
06:32 EDTGSGoldman Sachs downgraded to Neutral from Positive at Susquehanna
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December 9, 2014
14:57 EDTGSFed to propose rulemaking on risk-based capital surcharges for GSIB banks
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14:42 EDTGSFed sees setting capital surcharge up to 4.5% for big U.S. banks, Bloomberg says
Bloomberg cites surcharge estimates in Federal Reserve staff memo. 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).
December 8, 2014
15:26 EDTDBDeutsche Bank sued by U.S. over alleged scheme to avoid income taxes
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15:10 EDTDBDOJ files suit against Deutsche Bank over income tax avoidance, Bloomberg says
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11:55 EDTGSGoldman Sachs ordered to pay $7.6M in wrongful discharge claim
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10:00 EDTDBOn The Fly: Analyst Downgrade Summary
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08:40 EDTDBDeutsche Bank and Cisco to host a conference call
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07:56 EDTRBSRBS asks Credit Suisse, others for Coutts bids by Christmas, Reuters says
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06:35 EDTGSValue of Wall Street's M&A bankers has risen, NY Times says
The value of Wall Street's bankers who advise large companies seems to be increasing, while traders are becoming less valuable, according to The New York Times. Bankers who work on M&A deals are expecting their bonuses to increase, while traders anticipate that their compensation will drop, the newspaper added. Furthermore, banks seem to be going the extra mile to hire top notch bankers, the newspaper stated. Publicly traded large banks 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
06:00 EDTDBDeutsche Bank downgraded to Underperform from Market Perform at Keefe Bruyette
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