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Stock Market & Financial Investment News

News For FMER;MMC;BCS;ZION;TRV;WFC From The Last 14 Days
Check below for free stories on FMER;MMC;BCS;ZION;TRV;WFC the last two weeks.
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July 14, 2014
17:00 EDTZIONZions agrees to request from Fed for extension on Capital Plan review
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10:00 EDTWFCOn The Fly: Analyst Downgrade Summary
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08:53 EDTWFCCapital One has positive read from Wells Fargo report, says Janney Capital
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08:35 EDTWFCWells Fargo price target raised to $56 from $51 at RBC Capital
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07:13 EDTBCSDark pool investigation ups pressure on Barclays head, Reuters says
Barclays head Antony Jenkins is up one of biggest tests of his leadership when he chooses whether the firm should fight accusations that it deceived and defrauded U.S. clients, reported Reuters. If Jenkins accepts the allegations, he will have to deal with a problem arising from his promise to jettison any business that does not fit into the firm's new unblemished image. Reference Link
05:56 EDTWFCWells Fargo downgraded to Neutral from Overweight at JPMorgan
JPMorgan downgraded Wells Fargo to Neutral citing the company's higher expenses in Q2 and the year-to-date outperformance of shares. The firm lowered its price target for the stock to $52 from $54.50.
July 11, 2014
16:46 EDTWFCStocks end week lower on European, Fed concerns
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16:22 EDTWFCOn The Fly: Closing Wrap
Stocks on Wall Street were higher today, but were still lower for the week, as concerns in Europe have come back to the forefront of investors' minds. Today's modest bounce was not enough to make up for the declines seen in three of the other four sessions earlier in the week. ECONOMIC EVENTS: In the U.S., the June federal budget statement showed a surplus of $70.5B for the month, compared to analysts' forecast for a $79B surplus. COMPANY NEWS: Shares of Wells Fargo (WFC) slipped 32c, or 0.62%, to $51.49 after the largest mortgage lender in the U.S. posted earnings of $1.01 a share that matched analysts' consensus forecast. Wells did note that its credit performance continued to improve in Q2 and CEO John Stumpf said he is "optimistic about the future" for the bank... Lorillard (LO) advanced $2.92, or 4.63%, to $66.01, while Reynolds American fell 51c, or 0.82%, to $61.75, after the two cigarette makers confirmed that they are holding talks about a possible merger, as has been speculated by various media reports in recent weeks... In another update to an ongoing M&A story, Japan's Nikkei reported that Sprint's (S) corporate parent, Softbank (SFTBF), has reached an agreement to acquire T-Mobile (TMUS) from Deutsche Telecom (DTEGY), clearing the way for the long-speculated merger between the third and fourth largest wireless carriers in the U.S. Following the new story, Sprint shares finished the day up 30c, or 3.64%, to $8.55, while T-Mobile rose 62c, or 1.89%, to $33.50. MAJOR MOVERS: Among the notable gainers was Ruckus Wireless (RKUS), which advanced 87c, or 7.9%, to $11.88 after the FCC announced that it would allocate new funds to subsidize the launch of WiFi networks in schools and libraries. Also higher was Amazon.com (AMZN), which climbed $18.28, or 5.57%, to $346.20 after consulting firm ChannelAdvisor (ECOM) reported that the company's same-store sales growth had accelerated significantly in June compared with May. Among the noteworthy losers was Rent-A-Center (RCII), which dropped $3.18, or 10.94%, to $25.88 after the company warned that its revenue and earnings for Q2 will not meet expectations. Also lower were shares of industrial and construction supply retailer Fastenal (FAST), which fell $2.00, or 4.16%, to $46.15 after its Q2 revenue missed analysts' consensus view and the company reported plans to close 45 stores. INDEXES: The Dow was up 28.74, or 0.17%, to 16,943.81, the Nasdaq was up 19.29, or 0.44%, to 4,415.49, and the S&P 500 was up 2.83, or 0.14%, to 1,967.51.
15:47 EDTBCSBarclays index unit could sell for close to $1B, Reuters reports
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12:36 EDTWFCOn The Fly: Midday Wrap
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11:13 EDTWFCWells Fargo sees doing commercial real estate portfolio acquisitions
Says would be willing to sell student loan portfolio in one piece.
10:50 EDTWFCWells Fargo sees gain on sale margins stabilizing
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10:32 EDTWFCWells Fargo says 'absolutely' sees net interest income growth
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10:25 EDTWFCWells Fargo targeting a net payout ratio of 55%-75%
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10:23 EDTWFCWells Fargo says seeing many indicators of economic growth accelerating
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09:37 EDTWFCActive equity options trading on open
Active equity options trading on open according to Track Data: AAPL WFC C SUNE FB AMZN TSLA TWTR
09:09 EDTWFCOn The Fly: Pre-market Movers
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08:54 EDTWFCWells Fargo nears tests of support following earnings, levels to watch
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08:09 EDTWFCWells Fargo reports Q2 Community Banking net income $3.4B
Community Banking reported net income of $3.4B, down $413M, or 11%, from Q1. Revenue of $12.6B rose slightly from the prior quarter. Higher net interest income, mortgage banking revenue and card fees, were offset by lower equity investment gains. Wholesale Banking reported net income of $2.0B, up $210M, or 12%, from Q1. Revenue of $5.9B increased $366M, or 7%, from prior quarter. Wealth, Brokerage and Retirement reported net income of $544M, up $69M, or 15%, from Q1. Revenue of $3.6B increased $82M, or 2%, from the prior quarter as increased asset-based fees and higher gains on deferred compensation plan investments, offset in compensation expense, were partially offset by lower brokerage transaction revenue.
08:06 EDTWFCWells Fargo reports Q2 mortgage originations of $47B
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