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Stock Market & Financial Investment News

News Breaks
January 5, 2014
15:17 EDTDBBaFin critical of Deutsche Bank response to Libor probe, Reuters says
According to German magazine Der Spiegel, German banking regulator BaFin is critical of Deutsche Bank's management for the way it handled the Libor probe, says Reuters. Reference Link
News For DB From The Last 14 Days
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May 5, 2015
07:59 EDTDBMorgan Stanley sees loss up to $292M possible from Deutsche Bank suit
Morgan Stanley (MS) disclosed yesterday in a regulatory filing that on April 28, 2014, Deutsche Bank National Trust Company (DB), in its capacity as trustee for Morgan Stanley Structured Trust I 2007-1, filed a complaint against the company. The complaint asserts claims for breach of contract and alleges, among other things, that the loans in the trust, which had an original principal balance of approximately $735M, breached various representations and warranties. The complaint seeks, among other relief, specific performance of the loan breach remedy procedures in the transaction documents, unspecified compensatory and/or rescissory damages, interest and costs. On April 3, 2015, the court granted in part and denied in part the company's motion to dismiss. On April 17, 2015, the company filed its answer to the complaint. Based on currently available information, the company believes that it could incur a loss in this action of up to approximately $292M, plus pre- and post-judgment interest, fees and costs.
May 4, 2015
06:17 EDTDBInvestor says UBS and Credit Suisse may combine investment banks, Reuters says
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April 30, 2015
06:25 EDTDBEuro zone bank loans rose in March, NY Times says
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April 28, 2015
06:46 EDTDBDeutsche Bank co-CEO's trial started today, Reuters says
Deutsche Bank co-CEO Juergen Fitschen's trial for allegedly providing misleading evidence began today, according to Reuters. The trial is expected to continue at least until September and could be a major distraction for the bank as it pursues a major restructuring initiative, the news service stated. Reference Link
06:39 EDTDBECB vetoed Deutsche Bank restructuring plan, Reuters says
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April 27, 2015
16:27 EDTDBOn The Fly: Top stock stories for Monday
Stocks on Wall Street began the session in positive territory and saw the Nasdaq and S&P 500 briefly hit new all-time highs in the process. By lunch time the Nasdaq and S&P crossed into negative ground while the Dow continued to struggle. The market limped into the close, digesting some of its recent gains, as investors prepared for the next round of earnings reports due out after the close, to be headlined by Apple (AAPL). ECONOMIC EVENTS: In the U.S., Markit's flash services PMI fell 1.4 points to 57.8 in April, versus the consensus forecast for a 59.5 reading. The Dallas Fed's manufacturing index remained weak at -16.0 in April, versus the consensus forecast for a -12.0 reading. In Europe, Spanish Prime Minister Mariano Rajoy lifted his nation's GDP forecast to 2.9% from 2.4% for 2015. COMPANY NEWS: Shares of Deutsche Bank (DB) trading in New York dropped $1.65, or 4.82%, to $32.61 after the bank, along with publishing its quarterly results, unveiled a major strategic overhaul. The bank plans to cut annual costs by another EUR3.5B, reduce the size of its securities business and lower its Postbank holdings next year to sub-50% from 94% by selling shares on the market before reducing its stake to zero in the medium term... Applied Materials (AMAT) and Tokyo Electron announced that they have agreed to terminate their merger agreement after the U.S. Department of Justice advised the parties that the coordinated remedy proposal submitted to all regulators would not be sufficient to replace the competition lost from the merger, leading the companies to determined that there is "no realistic prospect for the completion of the merger." Applied Materials also announced that its board has approved a new share repurchase program authorizing up to $3B in repurchases over the next three years beginning in Q3, but its shares fell $1.83, or 8.42%, to $19.97 following the news. MAJOR MOVERS: Among the notable gainers was iGATE (IGTE), which rose $1.54, or 3.36%, to $47.39 after the company entered into a definitive merger agreement under which Capgemini will acquire IGATE for a cash consideration of $48 per share in a transaction will amount to $4B. Also higher was Tesla Motors (TSLA), which gained $13.04, or 5.97%, to $231.47 after Deutsche Bank analyst Rod Lache wrote in a note to investors that the company's soon to be unveiled electricity storage products may boost the company's results more than the Street expects. Among the noteworthy losers was Celladon (CLDN), which plunged $11.04, or 80.7%, to $2.64 and was downgraded by Street research firms after reporting that its phase 2b trial evaluating a single, one-time, intracoronary infusion of the cardiovascular gene therapy agent Mydicar did not meet its primary and secondary endpoints. Also lower were shares of Akorn (AKRX), which fell $12.27, or 22.21%, to $42.97 after the drugmaker announced late Friday that it will need to further restate its previously issued financial statements for 2014. INDEXES: The Dow fell 42.17, or 0.23%, to 18,037.97, the Nasdaq slid 31.84, or 0.63%, to 5,060.25, and the S&P 500 dropped 8.77, or 0.41%, to 2,108.92.
12:25 EDTDBOn The Fly: Top stock stories at midday
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09:35 EDTDBDeutsche Bank falls sharply in early trading, levels to watch
The stock is down over 4% in early trading to $32.85. At that price next support is at $31.97. Resistance is at $33.44.
06:27 EDTDBDeutsche Bank not expecting significant damage from forex probe, Reuters reports
Deutsche Bank does not expect to sustain significant damage from an investigation into its alleged manipulation of foreign exchange trading, the company's CFO said, according to Reuters. Reference Link
April 26, 2015
19:32 EDTDBDeutsche Bank to keep 500 German retail branches after overhaul, Reuters says
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19:24 EDTDBDeutsche Bank plans to reduce Postbank stake to sub-50% next year, Reuters says
Deutsche Bank plans to reduce its Postbank holdings next year to sub-50% from 94% by selling shares on the market before reducing its stake to zero in the medium term, reports Reuters, citing a source close to the matter. The German government will monitor any Postbank deal to reduce layoffs at the unit, with deputy SPD parliamentary floor leader Carsten Schneider saying, "We're worried about jobs at Postbank... The policy goal is that it won't be leveled following a sale to an investor." Reference Link
17:45 EDTDBDeutsche Bank profits impacted by EUR1.5B in litigation expenses
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17:43 EDTDBDeutsche Bank reports Q1 net income EUR559M versus EUR1.1B in prior year
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April 24, 2015
18:01 EDTDBDeutsche Bank to deconsolidate Postbank, WSJ says
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17:06 EDTDBDeutsche Bank to deconsolidate postbank, Bloomberg says
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08:23 EDTDBBafin not seen punishing Deutsche Bank with large fine after probe, Reuters says
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06:56 EDTDBSources: Deutsche Bank receives offer for Hua Xia Bank, Reuters reports
According to sources, Deutsche Bank has received "at least one" proposal for its 20% stake in Hua Xia Bank from a Chinese bank, Reuters reports. The German bank is considering selling its stake in Hua Xia, which is valued at around $4.8B, though a deal is not yet within reach, the sources say. Reference Link
April 23, 2015
08:29 EDTDBDeutsche Bank plans deep investment bank cuts, Postbank spinoff, FT says
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08:21 EDTDBDeutsche Bank to pay $2.5B in interest rate manipulation settlement
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08:21 EDTDBDeutsche Bank to pay $800M to settle CFTC charges of LIBOR, Euribor manipulation
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