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Stock Market & Financial Investment News

News Breaks
June 30, 2014
09:57 EDTDG, BEBE, WFC, UTL, TLYS, SYT, RYN, MBI, FMS, ESYJYOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Dollar General (DG) downgraded to Equal Weight from Overweight at Johnson Rice... Fresenius Medical (FMS) downgraded to Underperform from Hold at Jefferies... MBIA (MBI) downgraded to Neutral from Buy at BTIG... Rayonier (RYN) downgraded at RBC Capital... Syngenta (SYT) downgraded to Underweight from Neutral at JPMorgan... Tilly's (TLYS) downgraded to Neutral from Buy at B. Riley... Unitil (UTL) downgraded to Hold from Buy at Brean Capital... Wells Fargo (WFC) downgraded to Underperform from Neutral at Macquarie... bebe stores (BEBE) downgraded to Neutral from Buy at B. Riley... easyJet (ESYJY) downgraded to Underperform from Neutral at BofA/Merrill.
News For DG;FMS;MBI;RYN;SYT;TLYS;UTL;WFC;BEBE;ESYJY From The Last 14 Days
Check below for free stories on DG;FMS;MBI;RYN;SYT;TLYS;UTL;WFC;BEBE;ESYJY the last two weeks.
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September 29, 2014
08:14 EDTDGDollar General buying Dollar Tree 'not impossible,' says FBR Capital
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07:58 EDTWFCWarren calls for hearing on 'disturbing' Fed tapes, Reuters reports
Two members of the the Senate Banking Committee, Democrats Elizabeth Warren and Sherrod Brown, called for an investigation into the issues raised by secretly taped conversations between officials at Goldman Sachs (GS) and supervisors at the New York Federal Reserve, reported Reuters. Other large U.S. banks include Bank of America (BAC), Citigroup (C), JPMorgan (JPM), Morgan Stanley (MS), U.S. Bancorp (USB) and Wells Fargo (WFC). Reference Link
07:15 EDTWFCNational Association of Business Economics to hold annual meeting
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06:35 EDTSYTSyngenta names Jon Parr as COO, effective at the end of 2014
Syngenta announced that John Atkin, COO, will retire from the company at the end of 2014. He will be succeeded by Jon Parr, who will assume responsibility for two of the company's four regions: Europe, Africa and the Middle East and Latin America. North America and Asia Pacific will remain under the leadership of Davor Pisk, COO. Parr has worked for Syngenta and its legacy companies since 1987.
September 26, 2014
18:01 EDTDGAttorneys general investigating effects of proposed Family Dollar merger
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September 25, 2014
15:10 EDTWFCHolder resignation as AG positive for banks, says Rafferty Capital
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September 24, 2014
15:04 EDTWFCGoldman, other banks near deal to buy Bloomberg messaging alternative, WSJ says
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September 23, 2014
06:13 EDTWFCWells Fargo Advisers fined $5M by SEC for failing to maintain controls
The Securities and Exchange Commission yesterday charged Wells Fargo Advisors LLC with failing to maintain adequate controls to prevent one of its employees from insider trading based on a customer’s nonpublic information. The SEC also charged Wells Fargo for unreasonably delaying its production of documents during the SEC’s investigation and providing an altered internal document related to a compliance review of the broker’s trading. Wells Fargo, which admits wrongdoing, has agreed to pay a $5M penalty to settle the SEC’s charges, which are the first-ever against a broker-dealer for failing to protect a customer’s material nonpublic information. Reference Link
September 22, 2014
18:20 EDTWFCSEC fines Wells Fargo Advisors $5M for not stopping inside trade, FT reports
The brokerage arm of Wells Fargo (WFC), Wells Fargo Advisors, was fined $5M by the SEC for not stopping an employee from trading on customer information ahead of the 2010 acquisition of Burger King (BKW), sometimes called “the sandwich deal," FT reports. Reference Link
September 18, 2014
14:08 EDTWFCBanks look to high-interest personal loans to boost revenue, WSJ says
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September 17, 2014
17:32 EDTDGDollar General remains committed to acquisition of Family Dollar
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13:28 EDTWFCWells Fargo eases lending requirements for buying apartments, Financial Times says
Wells Fargo (WFC) is easing lending requirements for apartment purchases, reports the Financial Times. In an interview, the head of Wells Fargo mortgage production Franklin Codel said, “We’re tweaking our condo approvals to make them more consistent with what Fannie Mae (FNMA) and Freddie Mac (FMCC) allow." Reference Link
13:16 EDTWFCHolder says DOJ looking to charge bank executives, Washington Post says
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08:28 EDTDGFamily Dollar board rejects Dollar General's 'illusory' tender offer
Family Dollar Stores (FDO) announced that its Board of Directors unanimously recommends that Family Dollar’s shareholders reject the unsolicited conditional tender offer made by Dollar General Corporation (DG) and not tender their shares. In conjunction with its rejection of Dollar General’s offer, Family Dollar’s Board unanimously reaffirms its recommendation in support of the transaction with Dollar Tree (DLTR). The terms of the tender offer are the same as those in the proposal made by Dollar General on September 2, 2014, which the Board of Directors of Family Dollar unanimously rejected on September 5, 2014, on the basis of antitrust regulatory considerations. Howard R. Levine, Chairman and CEO of Family Dollar, said, “Our Board of Directors, with the assistance of outside advisors and consultants, reviewed all aspects of Dollar General’s tender offer and concluded unanimously that this highly conditional Offer is illusory because, as Dollar General is well aware, the Offer cannot close on the terms proposed. Tenders into the Dollar General Offer will be meaningless since there is no way that Dollar General can purchase shares that are tendered.” Levine added, “The terms of the Dollar General Offer are no different from those in its most recent unsolicited proposal, which was previously and unanimously rejected by our Board of Directors based on antitrust regulatory considerations. There is a very real and material risk that the transaction proposed by Dollar General would fail to close, after a lengthy and disruptive review process. Accordingly, our Board has rejected Dollar General’s tender offer and reaffirmed its support of the transaction with Dollar Tree, which delivers attractive value in the form of immediate upfront cash and upside participation in a combined Dollar Tree-Family Dollar entity, as well as closing certainty.” Ed Garden, a Family Dollar director and co-founder and Chief Investment Officer at Trian Fund Management, L.P., a large shareholder of the Company, stated, “We are focused on delivering to Family Dollar shareholders the highest value with certainty, and the Dollar Tree transaction does just that. Dollar Tree has taken the antitrust risk off the table by committing to divest as many stores as necessary to obtain antitrust clearance. We remain fully committed to the Dollar Tree transaction.”
08:27 EDTDGFamily Dollar board rejects Dollar General's 'illusory' tender offer
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08:19 EDTWFCNational Press Club holds a luncheon meeting
Wells Fargo & Co. CEO John Stumpf discusses the role of financial services in the real economy at a National Press Club luncheon meeting being held in Washington, D.C. on September 17 at 1 pm. Webcast Link
September 16, 2014
16:27 EDTTLYSTilly's assumed with an Overweight at Piper Jaffray
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07:19 EDTWFCCompanies' share buybacks at fasttest clip since 2007, WSJ reports
Companies are buying back their own shares at its fastest pace since the financial crisis to fuel a stock rally, reports the Wall Street Journal. According to Birinyi Associates, companies have bought back $338.3B of stock in 1H14, the most since 2007. Citing an analysis by Barclays, companies with the largest buyback programs by dollar value have outperformed the broader market by 20% since 2008. Reference Link

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