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Stock Market & Financial Investment News

News Breaks
June 19, 2014
13:14 EDTGE, V, MA, AXPJustice Department announces settlement with GE Capital Retail Bank
The Department of Justice and the Consumer Financial Protection Bureau announced a settlement to resolve allegations that GE Capital Retail Bank, known as of this month as Synchrony Bank, engaged in a "nationwide pattern or practice of discrimination by excluding Hispanic borrowers from two of its credit card debt-repayment programs." The settlement resolves claims by the department and the CFPB that GE Capital violated the Equal Credit Opportunity Act by excluding borrowers who indicated that they preferred communications to be in Spanish or had a mailing address in Puerto Rico from two credit card debt-repayment programs. The settlement provides $169M in relief to approximately 108,000 borrowers in the form of monetary payments and the reduction, or complete waiver, of borrowers’ credit card balances. GE Capital has also agreed to eliminate negative credit reports for affected borrowers that occurred during periods of the alleged discrimination. Shares of credit card companies Visa (V), MasterCard (MA) and American Express (AXP) have moved off of their lows following the news from the Justice Department. The card companies sold off ahead of the DOJ's announcement that was dubbed a credit card enforcement action.
News For GE;V;MA;AXP From The Last 14 Days
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August 19, 2014
10:13 EDTAXPOn The Fly: Analyst Upgrade Summary
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07:48 EDTAXPAmerican Express upgraded to Neutral from Underperform at Macquarie
Macquarie upgraded American Express to Neutral based on valuation. Price target remains $91.
06:22 EDTGEGeneral Electric in talks with Electrolux to sell appliance business, WSJ says
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August 18, 2014
07:07 EDTGEGeneral Electric reinstated with an Outperform at Credit Suisse
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August 15, 2014
12:07 EDTAXPAmerican Express reports July net write-off rate 1.5% vs. 1.5% last month
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10:27 EDTVVisa management to meet with Pacific Crest
Meeting to be held on the West Coast on August 21 hosted by Pacific Crest.
06:15 EDTVSprint's new CEO to introduce 'disruptive' prices next week, Re/code reports
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August 14, 2014
16:54 EDTVBerkshire Hathaway gives quarterly update on stakes
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13:26 EDTGEGE evaluating 'wide range' of options for appliances unit, Bloomberg reports
General Electric (GE) says it is evaluating a "wide range" of options for its home appliance business, Bloomberg reports. According to a GE spokesperson, the company is holding discussions with Electrolux (ELUXY) and other parties. Consumer development startup Quirky is also said to be interested in the GE unit. Reference Link
12:25 EDTGEGE says evaluating 'range' of options for Appliances, Bloomberg reports
General Electric confirmed in an interview that its in talks with Electrolux AB (ELUXY) regarding the potential sale of its Appliances unit, Bloomberg reports. GE added its evaluating a "wide range of strategic options" for its Appliances unit.
11:22 EDTGEElectrolux confirms in talks to acquire GE Appliances
Electrolux (ELUXY) confirmed that it is in discussions regarding a possible acquisition of the appliances business of GE (GE). "No agreement has been reached, and there can be no assurances that an agreement will be reached. Any further announcements will be made in due course," Electrolux stated.
08:11 EDTGEGE Healthcare to use RTI Connext Middleware
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August 13, 2014
20:04 EDTGEGE appliance unit drawing interest from Electrolux, Quirky, Bloomberg says
General Electric's home appliance unit has drawn interest from Electrolux and Quirky, according to Bloomberg, citing two people with knowledge of the matter. General Electric's appliance unit is said to be worth about $2B, the sources added. Reference Link
19:35 EDTGEGE appliance unit drawing interest from Electrolux, Quirky, Bloomberg says
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09:31 EDTMAMasterCard, Web.com announce agreement
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August 12, 2014
08:18 EDTGEAs MetLife awaits SIFI decision, other non-banks get tough scrutiny, FT says
The Federal Reserve's scrutiny of AIG (AIG) and GE Capital (GE) since those non-banks were designated as systemic risks shows they are being regarded in the same manner as large banks, according Financial Times, citing people familiar with the process. Insurer Prudential Financial (PRU) was deemed a systemic risk last September and rival MetLife (MET) is waiting to see if it will be designated this year, the report noted. Reference Link
August 11, 2014
17:44 EDTGEGeneral Electric awarded $311.49M government contract modification
General Electric is being awarded a $311.49M modification to a previously awarded firm-fixed-price contract for the procurement of 75 Lot 14 F/A-18E/F F414-GE-400 engines and associated devices for U.S. Navy and for the government of Australia. In addition, this modification provides for the procurement of after burner modules, fan modules, high pressure combustor modules, combustor modules, and high and low pressure turbine modules for the U.S. Navy and the government of Australia. Work will be performed in Lynn, Massachusetts; Hooksett, New Hampshire; Rutland, Vermont; and Madisonville, Kentucky, and is expected to be completed in September 2016. This modification combines purchases for the U.S. Navy and the government of Australia under the Foreign Military Sales Program. The Naval Air Systems Command, Patuxent River, Maryland, is the contracting activity.
August 6, 2014
14:44 EDTGEGeneral Electric breaks downtrend resistance, levels to watch
The shares have been trending down since hitting a recent peak of price in June. Today's move up, over 1.8% at time of writing to $25,57, has broken downtrend resistance. That puts the shares just a tick over the 10-day moving average which is a good proxy for a hand-drawn resistance line. A close back below the 10-day would leave the current bearish picture for the stock unchanged. Next resistance is at $25.94. Support below the 10-day is at $25.27. Bernstein earlier upgraded the shares to Outperform with at $33 price target.
10:00 EDTGEOn The Fly: Analyst Upgrade Summary
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06:58 EDTGEGeneral Electric upgraded to Outperform from Market Perform at Bernstein
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