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Stock Market & Financial Investment News

News Breaks
February 18, 2014
07:53 EDTMS, GS, UBS, BLKGoldman Sachs halts development of bond trading platform, FT says
Goldman Sachs has put further development of its GSessions electronic bond trading platform on hold after last year's revamp failed to bring in significantly more business from investors, according to Financial Times, citing people familiar with the bank's plans. Alternative bond platforms like Goldman’s GSessions, BlackRock’s (BLK) Aladdin, UBS' (UBS) PIN, and Morgan Stanley’s (MS) BondPool account for only 1% of market share, the report notes, citing data from Greenwich Associates. Reference Link
News For GS;BLK;UBS;MS From The Last 14 Days
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June 26, 2015
09:02 EDTMSLittleBits raises $44.2M in funding from group including Morgan Stanley
Hardware startup LittleBits Electronics announced $44.2M in new funding to further fuel its growth. This additional funding round was led by DFJ Growth ­with additional participation from new investors Morgan Stanley Alternative Investment Partners​, Grishin Robotics and Wamda Capital, among others.
07:28 EDTMSKKR-backed Coffee Day plans $181M IPO in India, Bloomberg reports
Coffee Day Enterprises, which includes KKR (KKR) among its investors, plans to raise as much as $181M from an initial share sale in India, Bloomberg reports. Kotak Mahindra Capital, Citi (C), and Morgan Stanley (MS) are among the managers to the planned sale, the report says. Reference Link
June 25, 2015
07:56 EDTGSMLB Advanced media considering IPO, NY Post reports
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07:48 EDTMSMorgan Stanley disregards Fed guidelines with $1B loan, NY Post reports
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07:13 EDTGS, MSFed director says full transparency in stress testing can be 'enormous weakness'
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June 24, 2015
10:00 EDTGSOn 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 EDTGSDeutsche 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 EDTGSGoldman Sachs downgraded to Hold from Buy at Deutsche Bank
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June 23, 2015
07:59 EDTBLKCFA Society of Minnesota to hold a discussion
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06:53 EDTGS, MSPSAV prepares for IPO that could raise roughly $300M, Bloomberg says
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June 22, 2015
10:52 EDTMSMorgan Stanley Smith Barney, Scottrade fined $950,000 by FINRA
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June 19, 2015
06:29 EDTMSMorgan Stanley invests in Alibaba-backed online insurer, WSJ reports
A group of investors including Morgan Stanley (MS) has invested $934M in China’s first online-only insurer backed by Alibaba (BABA) called Zhong An Online P&C Insurance Company, valuing the venture at $8B, the Wall Street Journal reports. The investment has been approved by China’s insurance regulator, the report says. Reference Link
June 18, 2015
07:50 EDTUBSSNB pushes UBS, Credit Suisse to improve leverage ratios
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07:37 EDTMSNoranda Aluminum to evaluate strategic alternatives, suspends dividend
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06:36 EDTGSGoldman tells interns not to stay in office overnight, Reuters reports
Goldman Sachs (GS), which has been looking to improve working conditions for its investment-banking interns, has set new guidelines, under which interns are expected to stay away from the office between midnight and 7 a.m. during weekdays, Reuters reports, citing company sources and confirmed by a Goldman spokesperson. Following the 2013 death of a Bank of America (BAC) intern in London, Goldman and other banks have taken steps to encourage its junior employees to take time off. Reference Link
06:21 EDTGSFour banks to pay nearly $1B to settle forex rigging suit, AFP reports
Goldman Sachs (GS), BNP Paribas (BNPQY), Barclays (BCS), and HSBC (HSBC) have all reached separate agreements to settle a U.S. civil lawsuit over alleged foreign exchange rigging in deals totaling approximately $1B, AFP reports, citing sources close to the situation. The agreements are preliminary and are subject to change, the sources told AFP, confirming an earlier report on the settlements from the Wall Street Journal. Barclays is expected to pay $375M, HSBC $285M, BNP Paribas roughly $200M, and Goldman Sachs about $130M, the report says.The four banks' pending agreements would settle the civil lawsuit filed by Scott & Scott and Hausfeld that claims their traders manipulated the forex market to boost the banks' profits, AFP reports. Reference Link
06:01 EDTGSBanks to settle civil forex lawsuit for nearly $2B, WSJ reports
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June 17, 2015
17:37 EDTMS, GS, UBSGM hires advisers as Fiat Chrysler tries to force merger talks, Reuters says
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07:06 EDTMSNoble CEO fires back at critics of company’s accounting practices, WSJ says
Noble Group (NOBGY) CEO Yusuf Alireza disputed allegations about the company’s accounting practices, particularly that it is hiding the true nature of its debt and improperly valuing its 13% stake in Australian coal miner Yancoal, the Wall Street Journal reports. In a letter to former longtime Morgan Stanley (MS) banker Michael Dee, Alireza said that the company’s evaluation of Yancoal is “reasonable and consistent with market practice and accounting policies” and that “any suggestion otherwise is ill-informed and factually incorrect,” the report says. “As an associate company, we must rely on a cash flow model to value our stake, which is consistent with market practice in the mining industry,” the Noble CEO added, the report says. Reference Link
06:48 EDTMS, GSMore big banks waiving overdraft fees, WSJ reports
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