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Stock Market & Financial Investment News

News Breaks
June 2, 2014
04:55 EDTFISV, FISV, FISV, GDOT, GDOT, GDOT, WBK, WBK, WBK, WFC, WFC, WFC, C, C, C, STI, STI, STISourceMedia to hold a summit
Digital Banking Summit to be held in Los Angeles on June 2-4.
News For FISV;GDOT;WBK;WFC;C;STI From The Last 14 Days
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July 31, 2015
06:40 EDTWFC, CU.S. banks prepared to take advantage of Euro lenders' cautions, WSJ says
U.S. banks are preparing to advance in the sector after reporting earnings, with executives touting the gloom coming from their European counterparts as a major opportunity to capitalize on their newfound advantage, the Wall Street Journal reports. On Thursday, Deutsche Bank (DB) CEO John Cryan said that the company must "shrink" its balance sheet, while Barclays (BCS) chairman John McFarlane said that Wall Street lenders are "an enormous threat" to Euro investment banks, the report says. On the other hand, Morgan Stanley (MS) chairman James Gorman said after reporting earnings last week that the company is poised to advanced in the debt trading sector, and that "there's a potential for, over a period of time, share gain for our business," the report says. In addition, Goldman Sachs finance chief Harvey Schwartz said that the company is "seeing potential big restructuring on the European side," the report adds. Publicly traded companies in the European space include Banco Santander (SAN), Barclays (BCS), Credit Suisse (CS), Deutsche Bank (DB), HSBC (HSBC), ING Groep (ING), Lloyds Banking (LYG), RBS (RBS) and UBS (UBS). Publicly traded companies in the U.S. 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
July 30, 2015
13:04 EDTWFCWells Fargo to withdraw from mortgage marketing service agreements with RE firms
Wells Fargo Bank, N.A. announced that it will withdraw from mortgage marketing services and desk rental agreements with real estate firms, builders and certain other referral sources. The decision was made as a result of increasing uncertainty surrounding regulatory oversight of these types of arrangements and as part of Wells Fargo’s ongoing efforts to simplify the process that customers experience as they weigh all of their choices when shopping for a mortgage. “Real estate firms and builders always have been—and will continue to be—very important to Wells Fargo’s retail mortgage operations, and we are exploring a number of new options for enhancing and strengthening those relationships over the long term,” said Franklin Codel, executive vice president for mortgage production at the company. “Because we value our strong relationships with real estate professionals and builders, the decision to exit these marketing services agreements was difficult, but we are taking this action to ensure that we continue to conduct our business in a way that represents the best interests of all of our customers and clients. We believe the best way to earn the relationship with real estate firms and builders is through timely, dependable service delivered by the best team in the business.” The decision is effective Aug. 1 and the wind down will occur over the following 90 days. Termination of these marketing services agreements is not expected to have a material impact on Wells Fargo’s total mortgage production.
July 29, 2015
16:02 EDTFISVFiserv backs FY15 EPS view $3.73 to $3.83, consensus $3.81
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16:01 EDTFISVFiserv reports Q2 EPS 95c, consensus 94c
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15:59 EDTFISVNotable companies reporting after market close
Notable companies reporting after the market close, with earnings consensus, include Facebook (FB), consensus 47c... MetLife (MET), consensus $1.48... Williams (WMB), consensus 24c... Vertex (VRTX), consensus (58c)... O'Reilly Automotive (ORLY), consensus $2.26... NXP Semiconductors (NXPI), consensus $1.37... Marriott (MAR), consensus 81c... Fiserv (FISV), consensus 94c... Western Digital (WDC), consensus $1.45... SBA Communications (SBAC), consensus 9c... Whole Foods (WFM), consensus 45c... Lincoln National (LNC), consensus $1.53... Lam Research (LRCX), consensus $1.47... ServiceNow (NOW), consensus (2c)... Qorvo (QRVO), consensus $1.06... Hologic (HOLX), consensus 39c.
15:08 EDTFISVNotable companies reporting after market close
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10:00 EDTWFCOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: 3D Systems (DDD) upgraded to Neutral from Underperform at Longbow... AK Steel (AKS) upgraded to Outperform from Neutral at Macquarie... Ally Financial (ALLY) upgraded to Outperform from Neutral at Credit Suisse... Amazon.com (AMZN) upgraded to Buy from Hold at Stifel... Arrow Electronics (ARW) upgraded to Buy from Underperform at CLSA... Beacon Roofing (BECN) upgraded to Buy from Neutral at CL King... Citrix (CTXS) upgraded to Outperform at Baird... Commvault (CVLT) upgraded to Buy from Hold at Jefferies... FireEye (FEYE) upgraded on positive checks, business mdoel changes at Oppenheimer... Hibbett Sports (HIBB) upgraded to Neutral from Underperform at Sterne Agee CRT... Integra LifeSciences (IART) upgraded to Outperform at Raymond James... M/A-COM (MTSI) upgraded to Buy from Hold at Needham... Norsk Hydro (NHYDY) upgraded to Neutral from Underperform at Exane BNP Paribas... NuVasive (NUVA) upgraded to Outperform from Market Perform at Northland... SM Energy (SM) upgraded to Outperform from Market Perform at Raymond James... Scorpio Bulkers (SALT) upgraded to Buy from Hold at Deutsche Bank... Sirius XM (SIRI) upgraded to Buy from Hold at Wunderlich... Sprouts Farmers Markets (SFM) upgraded to Neutral from Underperform at Longbow... Supervalu (SVU) upgraded to Equal Weight from Underweight at Morgan Stanley... Waters (WAT) upgraded to Outperform from Market Perform at Wells Fargo... Wells Fargo (WFC) upgraded to Buy from Neutral at Guggenheim... Williams-Sonoma (WSM) upgraded to Overweight from Neutral at JPMorgan... YRC Worldwide (YRCW) upgraded to Strong Buy at Raymond James.
07:21 EDTWFCWells Fargo upgraded to Buy from Neutral at Guggenheim
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July 28, 2015
11:54 EDTSTISunTrust management to meet with Evercore ISI
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09:32 EDTCCaterpillar announces $1.5B accelerated stock repurchase
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July 27, 2015
08:09 EDTFISVFiserv to integrate Fujitsu PalmSecure tech into DNA processing platform
Fujitsu (FJTSY) Frontech North America said that Fiserv (FISV) has signed an agreement that will allow them to integrate Fujitsu’s PalmSecure biometric technology into the DNA account processing platform from Fiserv. PalmSecure technology enables positive identification of accountholders across multiple delivery channels. The Fiserv integration will initially facilitate the authentication of accountholders in the branch to provide positive identity verification for activities such as withdrawing funds or accessing a safety deposit box.
06:52 EDTWFCWells Fargo currently testing mobile biometrics, WSJ reports
Wells Fargo is currently testing voice recognition and eye scanning in an effort to use biometrics technology to authenticate customers using their mobile applications, the Wall street Journal reports, citing comments from Steve Ellis, head of Wells Fargo's new Innovation Group. Wells Fargo's mobile development efforts include testing an assist using artificial intelligence technology and the bank expects to launch the software in 2016, the report says. Reference Link
July 24, 2015
10:46 EDTCCiti's Mexico unit facing expanding money laundering probe, Bloomberg says
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July 23, 2015
18:57 EDTWFCWells Fargo 'poised for growth,' Barron's says
Wells Fargo is a "high quality" value stock and the "well-managed" company could be "poised for growth" given the potential for interest rate hikes before the end of the year, Barron's contends in its 'Weekday Trader' column. Reference Link
09:06 EDTWFCSEI Investments extends long-term realtionship with Wells Fargo
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July 22, 2015
16:26 EDTCCiti releases results of 2015 Dodd-Frank Stress Test
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12:58 EDTCCiti says to wind down banking operations at Banamex USA
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12:53 EDTCFDIC announces $140M civil penalty against Citi's Banamex USA unit
The FDIC announced the assessment of a civil money penalty of $140M against Banamex USA, Century City, California, for violations of the Bank Secrecy Act and anti-money laundering laws and regulations. In a concurrent action, the California Department of Business Oversight assessed a civil money penalty of $40M. The FDIC's penalty of $140M will be satisfied in part by the CDBO's penalty. The FDIC's penalty will be paid to the United States Department of the Treasury. In taking this action, the FDIC determined that the bank failed to implement an effective BSA/AML Compliance Program over an extended period of time. The institution failed to retain a qualified and knowledgeable BSA officer and sufficient staff, maintain adequate internal controls reasonably designed to detect and report illicit financial transactions and other suspicious activities, provide sufficient BSA training, and conduct effective independent testing.
09:01 EDTWFCWells Fargo names Pelos to oversee commercial, corporate, treasury mangement
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July 21, 2015
10:58 EDTCCiti fined $70M, ordered by CFPB to provide $700M in relief
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