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Stock Market & Financial Investment News

News Breaks
December 4, 2012
17:51 EDTFMD, GSGoldman Sachs in pact to sell First Marblehead stake
Goldman Sachs has determined to sell all series B preferred stock beneficially owned as well as common Stock that, together, constitute 9.9% of the issuer’s outstanding common stock on an as-converted basis, in a private transaction.
News For GS;FMD From The Last 14 Days
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October 6, 2015
07:30 EDTGSbloomberg to hold a summit
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07:24 EDTGSbloomberg to hold a summit
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October 5, 2015
14:46 EDTGSGoogle takes stake in financial messaging start-up Symphony, WSJ reports
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06:53 EDTGSAverage ATM fees reach $4.52, WSJ says
The average ATM fee rose to $4.52 this year as regulators have pressured banks to reduce other fees and consumers aren't using ATMs as frequently as in the past, reports the Wall Street Journal, citing a Bankrate Inc. survey. Publicly traded companies in the space include Bank of America (BAC), Citi (C), Goldman Sachs (GS), JPMorgan (JPM), Morgan Stanley (MS), U.S. Bancorp (USB), Wells Fargo (WFC), and Cardtronics (CATM). Reference Link
October 2, 2015
13:26 EDTGSBanks, brokers slide as weak jobs report pushes out rate hike
Shares of banks and brokers are sliding after a weak jobs report pushed out the probability of near-term rate hike. WHAT'S NEW: Friday morning, the Labor Department reported that the U.S. economy added only 142,000 jobs in September compared to economists expectations of 203,000. The Labor Department's September jobs report strengthened the argument that the Fed will not raise rates in October, and even lessened the probability of a December rate hike. An increase in interest rates would let banks and brokers benefit from higher spreads on deposits. PRICE ACTION: Shares of Bank of America (BAC), Citigroup (C), Goldman Sachs (GS), JPMorgan (JPM), Morgan Stanley (MS), U.S. Bancorp (USB), and Wells Fargo (WFC) are all declining despite a rebound in the broad market. OTHERS TO WATCH: Shares of online brokers, including TD Ameritrade (AMTD), Charles Schwab (SCHW), E*TRADE (ETFC), and Interactive Brokers (IBKR) are also lower in afternoon trading.
12:02 EDTGSGoldman Sachs October volatility elevated into Q3 and outlook
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October 1, 2015
19:15 EDTGSJPMorgan preparing $18B bid for U.K. mortgage pool, Bloomberg says
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19:10 EDTGSJPMorgan to pay $595M in credit-default swap suit, Bloomberg says
JPMorgan (JPM) is set to pay $595M to settle allegations that major banks as well as Markit (MRKT) colluded to control information in the credit-default swaps market, reports Bloomberg, citing people briefed on the matter. Morgan Stanley (MS), Barclays (BCS), and Goldman Sachs (GS) will pay a respective $230M, $175M, and $164M, sources told Bloomberg. Reference Link
08:00 EDTGSSecurity Traders Association to hold a conference
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07:09 EDTGSGoldman's Cohn in spotlight with Blankfein fighting lymphoma, WSJ says
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September 30, 2015
12:32 EDTGSRepsol sells part of piped gas unit for $728M, Reuters reports
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07:46 EDTGSFed liftoff may be more turbulent for banks than expected, WSJ says
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07:18 EDTGSSecurities Industry and Financial Markets Association to hold a forum
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September 29, 2015
19:46 EDTFMDNavient falls after government report criticizes student loan servicers
Shares of student loan stock Navient (NAVI) fell over 4% on Tuesday after the Consumer Financial Protection Bureau, or CFPB, released a report critical of student loan servicers, titled 'Student loan servicing: Analysis of public input and recommendations for reform.' WHAT'S NEW: The CFPB's 152-page report cited issues such as conflicting, incomplete, or inaccurate loan statements; missing or ignoring specific payoff instructions which would apply payments to higher interest loans; and servicing transfers resulting in processing problems, surprise fees, damaged credit, lost repayment benefits and loan records, among other issues. WHAT'S NOTABLE: CFPB Director Richard Cordray said in a statement, "With one out of four student loan borrowers struggling to repay their loans or already in default, cleaning up the servicing market is critical. Today's report underscores the need for market-wide student loan servicing reforms to halt harmful practices and boost assistance for distressed borrowers." PRICE ACTION: Shares of Navient dropped 53c, or 4.36%, to $11.63 in Tuesday's trading session. PEERS: Other student loan servicers include First Marblehead (FMD), which fell 3.4%, SLM Corporation (SLM), which declined 0.86%, and Nelnet (NNI), which was up fractionally.
09:31 EDTGSRe/code to hold a discussion
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09:22 EDTGSMorningstar to hold a conference
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September 28, 2015
06:08 EDTGSComcast NBCUniversal to acquire 51% stake in Universal Studios Japan
Comcast NBCUniversal (CMCSA) announced that it has agreed to purchase 51% ownership of Universal Studios Japan in a recapitalization transaction, partnering with the current owners including Goldman Sachs (GS), USJ's CEO Glenn Gumpel, Asian private-equity firm MBK Partners, and U.S. hedge fund Owl Creek Asset Management. Comcast NBCUniversal's purchase price for the majority ownership of the theme park destination is Y183B, or $1.5B. "We are excited to expand our global footprint with this wonderful theme park in Osaka and are excited by the opportunities that lie ahead in Japan and all of Asia," said Brian L. Roberts, Chairman and CEO of Comcast. "This investment represents a huge opportunity and commitment to creating value for our shareholders and continuing to grow internationally." Acquiring majority ownership of Universal Studios Japan continues Comcast NBCUniversal's ongoing investment strategy for it's U.S. parks in Orlando and Hollywood.

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