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Stock Market & Financial Investment News

News For UNB;MET;GE;C From The Last 14 Days
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June 25, 2015
10:11 EDTCBrooks Brothers, Citi announce exclusive credit card relationship
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07:13 EDTCFed director says full transparency in stress testing can be 'enormous weakness'
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06:15 EDTGEElectrolux CEO to step down 'on his own initiative,' Reuters reports
Electrolux (ELUXY) CEO Keith McLoughlin will step down from the company "on his own initiative," Reuters reports, citing comments from business daily Dagens Industri. Elextrolux says McLoughlin, who moved to the U.S. from Sweden a few years ago, has not yet resigned, but also noted that "all well-run public companies conduct succession planning." According to Dagens Industri, GE Appliances (GE) head Charles Blankenship would be the "top candidate" to succeed McLoughlin. Reference Link
05:35 EDTCCiti apppointed depository bank for Celyad ADR program
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June 24, 2015
18:16 EDTGEGoogle, GE, Airbus lead in sheer number of meetings with EU officials
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17:57 EDTMETWall Street applauds Senate giving go-ahead for 'fast track' trade powers
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16:47 EDTGEGeneral Electric reaches preliminary labor agreements with union delegates
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10:00 EDTCOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Autoliv (ALV) downgraded to Sell from Neutral at Goldman... Catamaran (CTRX) downgraded to Neutral from Buy at UBS... Citi (C) downgraded to Hold from Buy at Deutsche Bank... Esperion (ESPR) downgraded to Neutral from Outperform at Credit Suisse... Fortinet (FTNT) downgraded to Neutral from Buy at Citi... General Motors (GM) downgraded to Neutral from Buy at Goldman... Goldman Sachs (GS) downgraded to Hold from Buy at Deutsche Bank... IBERIABANK (IBKC) downgraded to Neutral from Outperform at Baird... Independent Bank (INDB) downgraded to Underperform from Neutral at Baird... Inphi (IPHI) downgraded to Market Perform from Outperform at Northland... MoneyGram (MGI) downgraded to Neutral from Outperform at Macquarie... Sensata (ST) downgraded to Hold from Buy at Cross Research... Teradyne (TER) downgraded to Buy from Conviction Buy at Goldman... Alcobra (ADHD) downgraded to Hold from Speculative Buy at WBB Securities.
06:37 EDTCDeutsche downgrades Citi, Goldman after share rallies
Deutsche Bank analyst Matt O'Connor recommends using the strong share performance of both Citi (C) and Goldman Sachs (GS) as on opportunity to take profits. The analyst this morning downgraded shares of both investment banks to Hold from Buy. Citi is up 21% from the lows on January 30 while Goldman is up 30% since July 1, 2014, the analyst points out. On Citi, O'Connor sees less near term upside with fixed income trading entering a seasonally weak period and core cost reductions largely over. On Goldman, the analyst sees a lack of catalysts to drive the stock meaningfully higher in the near term. His top picks among U.S. Banks are Bank of America (BAC), JPMorgan (JPM), M&T Bank (MTB) and SunTrust (STI).
06:27 EDTCCiti downgraded to Hold from Buy at Deutsche Bank
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June 23, 2015
13:02 EDTGESumitomo, others show interest in GE railway-leasing business, WSJ says
Japan's Sumitomo Mitsui Financial Group is interested in buying General Electric's (GE) railway-leasing business, says the Wall Street Journal, citing sources. Wells Fargo (WFC) and other U.S. financial institutions have also shown interest in GE Capital Rail Services, which may be worth around $4B, added the Wall Street Journal, citing people familiar with the matter. Reference Link
09:36 EDTC, GEActive equity options trading on open
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06:25 EDTCBarclays-Stifel deal marks end of Lehman legacy, Business Insider reports
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June 22, 2015
10:00 EDTMETOn The Fly: Analyst Upgrade Summary
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09:54 EDTGEGeneral Electric and Cascade announce multi-year joint development agreement
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08:09 EDTGEGeneral Electric 2018 EPS should surpass $2, says Bernstein
After meeting with GE's CFO, Bernstein predicts that the company's 2018 EPS will surpass the $2 it says is often cited as a target for the company. The firm says that synergies with Alstom appear to be progressing well, while its gross margin initiatives are also progressing. Bernstein says that GE is making progress on many fronts. It keeps an Outperform rating on the stock.
07:26 EDTMETMetLife upgraded on share repurchase, interest rate outlook at RBC Capital
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06:18 EDTGESuppliers worried about Airbus, Boeing production rate hike, Reuters reports
Major engine suppliers, including General Electric (GE) and Safran, are becoming worried that they may lose out if they invest to meet higher commercial jet production targets from Airbus (EADSY) and Boeing (BA) that may prove unsustainable, Reuters reports. Airbus and Boeing have plans to raise production rates of their best selling single aisle planes by 25% to 50-52 a month in 2017-2018, the report says. Suppliers have said that they need to secure the start of a steep rise in output before making a commitment to even loftier targets, the report says. Reference Link
06:14 EDTMETMetLife upgraded to Outperform from Sector Perform at RBC Capital
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05:13 EDTGEGeneral Electric, unions reach tentative agreement on new contracts
General Electric reached tentative agreements on new labor contracts with national leaders of its two largest unions, the IUE-CWA and the United Electrical, Radio and Machine Workers of America, or UE, after three weeks of negotiations. The agreements are now subject to review by union negotiating committees and ratification by union members. GEs existing four-year national contracts with the IUE-CWA and the UE expire at midnight. The four-year job packages provide improvements in healthcare, wages, pension and job and income security. The contract provisions will also be extended to additional unions that have local contracts with GE.
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