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Stock Market & Financial Investment News

News Breaks
May 29, 2014
08:19 EDTFITB, VNTVFifth Third Bancorp announces expected impact of Vantiv share sale
Vantiv (VNTV) recently conducted a secondary offering of 5.78 million shares of Class A Common Stock being sold on behalf of Fifth Third (FITB). Fifth Third says "The sale will result in an approximate 12% reduction in our ownership position in Vantiv (excluding the warrant noted below). Our purpose in the sale is to continue the process of monetizing the remaining portion of our stake in Vantiv in a considered, orderly fashion over time. Upon the settlement of this transaction, we would expect to recognize a pre-tax gain of approximately $125M during 2Q14. Following the settlement, Fifth Third would continue to hold approximately 43 million Class B units of Vantiv Holding, LLC, which may be exchanged for Class A common stock of Vantiv, Inc. on a one-for-one basis, as well as a warrant that is exercisable and exchangeable into Vantiv Inc. Class A Common Stock. These securities are subject to certain terms and restrictions. Fifth Third would have a remaining economic interest of approximately 22.8% of Vantivís future earnings. Our interest is accounted for under the equity method, and these earnings would be reduced reflecting the reduction in our ownership position as a result of the sale. Prior to this transaction, the carrying value of Fifth Thirdís investment in Vantiv Holding, LLC was $437M as of March 31. As previously announced on March 26, under our current capital plan, as to which the Federal Reserve provided a non-objection in its 2014 Comprehensive Capital Analysis and Review process, we may provide for the repurchase of shares of Fifth Third common stock in an amount up to any after-tax gains realized by Fifth Third from the sale of Vantiv shares."
News For FITB;VNTV From The Last 14 Days
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February 8, 2016
07:26 EDTFITBThe FDIC and Federal Reserve Bank of San Francisco to hold a conference
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February 7, 2016
20:36 EDTVNTVOn The Fly: Top five weekend stock stories
Catch up on the weekend's top five stories with this list compiled by The Fly: 1. Ford (F) plans to build a new assembly plant in Mexico and expand its existing factory near Mexico City, sharply increasing production capacity in the country as it looks to focus its U.S. efforts on trucks and SUVs, the Wall Street Journal reported. 2. GoPro (GPRO) and Microsoft (MSFT) signed a patent licensing agreement late Friday, lifting shares of the action camera maker in after-hours trading. 3. Media reports indicate Twitter (TWTR) could be rethinking its news feed, potentially ordering posts based on popularity rather than chronological date. 4. Apollo Education (APOL) received a second investigative subpoena from California's attorney general related to the marketing, recruiting, accreditation, and other aspects of its for-profit schools. 5. Celgene (CELG), Gilead (GILD), Thermo Fisher (TMO) and Vantiv (VNTV) were mentioned positively by Barron's this weekend, while Church & Dwight (CHD) was called overvalued and GoPro was identified as a possible takeover target by Under Armour (UA) or Sony (SNE).
13:28 EDTVNTVVantiv could gain 15% amid shift to chip-based cards, Barron's says
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February 3, 2016
07:06 EDTVNTVVantiv sees FY6 adjusted EPS $2.55-$2.61, consensus $2.60
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07:05 EDTVNTVVantiv sees Q1 adjusted EPS 51c-53c, consensus 54c
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07:04 EDTVNTVVantiv reports Q4 adjusted EPS 65c, consensus 63c
Reports Q4 revenue $453M, consensus $439.98M.
February 2, 2016
08:38 EDTVNTVVantiv Q4 results should beat expectations, says Pacific Crest
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January 31, 2016
19:10 EDTVNTVVantiv to suspend payment processing for daily fantasy sports, NYT says
Vantiv has notified its daily fantasy sports clients, including the popular FanDuel and DraftKings, that it will suspend processing payment transactions related to daily fantasy sports on February 29 due to unfavorable opinions on the industry by several state attorneys general, the New York Times reported Friday, citing a letter from Vantiv. Separately, a lawyer for DraftKings told the publication that "Vantiv is under court order to continue to fulfill its contractual obligation" to the company. Reference Link

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