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Stock Market & Financial Investment News

News Breaks
June 10, 2014
08:51 EDTBAC, GPT, MSGramercy Property Trust closes previously announced deal for BOA Portfolio
Gramercy Property Trust (GPT) has closed the previously announced transaction with an affiliate of Garrison Investment Group to acquire Garrison’s 50% equity interest in a joint venture that owns 67 properties aggregating approximately 3.1 million square feet that are approximately 96.5% leased to Bank of America, N.A. (BAC), through June 2023. The company already owns the remaining 50% interest in the Joint Venture. The purchase price paid by the company valued the Joint Venture at $395M. At closing, in addition to other customary prorations and credits, the company received an approximately $5.3 million incentive profits credit against the purchase price. The BOA Portfolio has budgeted calendar year 2014 cash net operating income of approximately $27.5M and 2014 straight-line net operating income of approximately $28.5M. Morgan Stanley (MS) served as the company’s financial advisor in connection with the transaction.
News For GPT;BAC;MS From The Last 14 Days
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November 21, 2014
07:24 EDTMS, BACBB&T CEO says 'banks lending recklessly' again, Reuters reports
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November 20, 2014
07:23 EDTBACBoston Security Analysts Society to hold a conference
Sustainable Investing: Taking the Long View is being held in Boston on November 20.
07:11 EDTBACBofA/Merrill to hold a conference
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November 19, 2014
13:05 EDTMSMorgan Stanley files automatic mixed securities shelf
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12:38 EDTMSSenate Homeland Security & Government Affairs Committee to hold a hearing
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07:51 EDTBACClearing House Payments Company to hold a conference
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November 18, 2014
09:02 EDTMSMorgan Stanley Wealth Management forms Global Sports & Entertainment unit
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November 17, 2014
10:15 EDTBACBank of America reports October default rate 2.81% vs. 2.93% last month
Reports October delinquency rate 1.94% vs. 1.92% last month.
November 12, 2014
16:23 EDTBACOn The Fly: Closing Wrap
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12:38 EDTBACOn The Fly: Midday Wrap
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10:46 EDTMSMorgan Stanley's Kelleher says Europe needs viable securitization framework
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10:37 EDTMSMorgan Stanley's Kelleher says firm is negative on Europe for growth
The company's President, Institutional securities Colm Kelleher is speaking at the BofA Financial Services Conference.
10:14 EDTBACOCC fines Bank of America, Citigroup, JPMorgan $950M over FX trading
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07:28 EDTMS, BACBofA/Merrill to hold a conference
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November 11, 2014
11:56 EDTBACAmerican Commercial weighs sale with value of over $1B, Financial Times says
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06:59 EDTBACBank of America's head of FICC trading to retire by year-end, WSJ reports
Bank of America's head of global fixed income, currencies and commodities trading trading, David Sobotka, will retire by year-end, the Wall Street Journal reports, citing an internal memo sent to employees. Sobotka is planning to take some time off before deciding on his next steps. Sources say BofA will name Sobotka's replacement by the end of the year. Reference Link
November 10, 2014
13:18 EDTGPTVanguard reports 10.12% passive stake in Gramercy Property Trust
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06:53 EDTBACBank of America, U.S. Bancorp settle bond trustee class action, Reuters says
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06:46 EDTMS, BACRegulators 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
November 9, 2014
13:00 EDTBACBofA looks for additional SEC sanctions to be waved, Bloomberg says
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