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Stock Market & Financial Investment News

News For FMER;FMER;FMER;MMC;MMC;MMC;BCS;BCS;BCS;ZION;ZION;ZION;TRV;TRV;TRV;WFC;WFC;WFC From The Last 14 Days
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November 18, 2014
06:34 EDTBCSDraghi sees positive signs in euro zone, NY Times reports
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06:20 EDTWFCWells Fargo downgraded to Market Perform from Outperform at BMO Capital
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November 17, 2014
09:19 EDTZIONZions Bancorp management to meet with JPMorgan
Meetings to be held in Los Angeles/Pasadena on November 18 hosted by JPMorgan.
07:12 EDTBCSBloomberg / Mayer Brown to co-host a conference
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November 13, 2014
17:35 EDTWFCOcwen unit signs mutual termination agreement with Wells Fargo
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17:32 EDTWFCWells Fargo, Ocwen agree to cancel sale of mortgage servicing rights
Wells Fargo & Co. (WFC) announced that its subsidiary, Wells Fargo Bank, N.A., and Ocwen Loan Servicing have mutually decided to cancel a previously announced sale to Ocwen of certain Wells Fargo residential mortgage servicing rights. Cancelation of the transaction is not expected to be material to Wells Fargo’s consolidated financial results.
16:53 EDTTRVTravelers CEO Jay Fishman diagnosed with neuromuscular condition
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12:53 EDTWFCWells Fargo sees Q4 mortgage originations to decline from Q3
Expects Q4 mortgage originations to decline from Q3, reflecting normal seasonality in purchase market, while gain on sale margin is expected to remain within range of last four quarters. Expects to operate within targeted efficiency ratio range of 55%-59% in Q4. Wells Fargo said that while there is potential for continued net interest margin pressure, focus remains on growing net interest income over time. The comapny said it expects future reserve releases absent signification deterioration in the economy, but expect a lower level of future releases as the rate of improvement in credit loans and loan portfolio grows. Expects share count to continue to decline in Q4 as result of anticipated net share repurchases. Says mortgage business profitable and very pleased with that segment. Comments taken from slides for presentation at Bank of America Merrill Lynch Banking and Financial Services Conference.
08:33 EDTWFCWells Fargo sells federal student loans to Navient
Wells Fargo & Co. (WFC) Education Financial Services announced that Navient (NAVI) will purchase a principal balance of $8.5B of Federal Family Education Loan Program loans, which are included in Wells Fargo’s held-for-sale loan portfolio. Due to a change in federal law, Wells Fargo has not issued federal student loans since June 30, 2010. This sale supports Wells Fargo’s ongoing strategic focus on its private student lending business. “By selling these FFELP loans to Navient, Wells Fargo will be in a position to focus more on meeting the needs of our private student loan customers,” said John Rasmussen, head of Wells Fargo’s Education Financial Services. “We are deeply committed to the private student loan business because next to purchasing a home or saving for retirement, paying for an education is one of the most important financial events for our customers.” ). The sale is expected to close in a series of transactions, substantially all of which are expected to be completed in fourth quarter 2014, subject to customary closing conditions. Terms of the transaction were not disclosed and the sale is not material to Wells Fargo.
November 12, 2014
16:23 EDTBCSOn The Fly: Closing Wrap
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12:38 EDTBCSOn The Fly: Midday Wrap
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09:36 EDTWFCInformation Management Network to hold a symposium
Private Label RMBS Reform Symposium is being held in New York on November 12.
08:57 EDTBCSBarclays excluded from forex settlement due to issues with NYDFS, Reuters says
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07:28 EDTWFCBofA/Merrill to hold a conference
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November 11, 2014
14:30 EDTBCSBanks to be hit with billions in fines for currency manipulation, Telegraph says
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07:06 EDTWFCJinkoSolar subsidiary signs $20M credit agreement with Wells Fargo Bank
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06:53 EDTBCSBanks sued by terror victims, NY Times says
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November 10, 2014
07:12 EDTWFC, BCSCA Technologies to hold a conference
CA World 2014 is being held in Las Vegas on November 9-12.
06:46 EDTWFC, BCSRegulators set new capital buffer rule for banks, Reuters reports
Global banks should have buffers of bonds or equity worth 16%-20% of their risk-weighted assets, beginning in January 2019, The Financial Stability Board decided, according to Reuters. The board said the buffer would prevent the need for government bailouts, the news service explained. Publicly traded global banks include Bank of America (BAC), Citigroup (C), Goldman Sachs (GS), JPMorgan (JPM), Morgan Stanley (MS), U.S. Bancorp (USB) Wells Fargo (WFC), Banco Santander (SAN), Barclays (BCS), Credit Suisse (CS), Deutsche Bank (DB), HSBC (HSBC), ING Groep (ING), Lloyds Banking (LYG), RBS (RBS) and UBS (UBS). Reference Link
06:18 EDTBCSUBS to settle misconduct allegations at precious metals trading unit, FT reports
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