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Stock Market & Financial Investment News

News Breaks
July 27, 2014
16:14 EDTFNMA, GS, FMCCGoldman close to settling FHFA suit on faulty mortgage claims, Bloomberg says
Goldman Sachs (GS) and the Federal Housing Finance Agency are close to settling the regulator's claims that the bank sold faulty mortgage-backed securities to Fannie Mae (FNMA) and Freddie Mac (FMCC), says Bloomberg. Goldman will likely pay between $800M and $1.25B to settle the clains, addded Bloomberg, citing sources. Reference Link
News For GS;FNMA;FMCC From The Last 14 Days
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July 17, 2015
12:37 EDTFMCCFreddie Mac to expand risk-sharing efforts, Bloomberg reports
Freddie Mac (FMCC) plans to expand its risk-sharing efforts designed to protect taxpayers and potentially prepare the U.S. home loan market for its future, Bloomberg reports, citing a person familiar with the matter. In a planned $300M offering of mortgage-backed securities managed by Credit Suisse (CS), the government-backed company is set to sell $22.5M of junior ranking bonds without guarantees, the report says. Freddie Mac intends to hold a call for investors next week to discuss the transaction, the report adds. Reference Link
July 16, 2015
16:22 EDTGSOn The Fly: Top stock stories for Thursday
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12:12 EDTGSOn The Fly: Top stock stories at midday
Stocks began the session in positive territory after Greece's Parliament approved austerity measures that should pave the way for the country to receive a new bailout package. With earnings season gaining steam and the situations in Greece and China appearing more stable in recent days, the S&P and Nasdaq are back within striking distance of their all-time highs. ECONOMIC EVENTS: In the U.S., initial jobless claims dropped to 281,000 in the week ended July 11, versus expectations for 285,000 first-time claims. The NAHB homebuilder sentiment index for July came in at 60, a point better than forecast. The Philly Fed business outlook index dropped 9.5 points to 5.7 in July, falling short of the 12.0 reading that was expected. In Europe, Greek lawmakers passed the country's austerity agreement and Euro-area finance ministers also reportedly agreed in principle to extend a $7.6B bridge loan to Greece. The loan, which will come from the European Financial Stabilization Mechanism, should help keep Greece afloat while Prime Minister Alexis Tsipras negotiates the details of the country's three-year bailout. COMPANY NEWS: Netflix (NFLX) rallied 16% and hit a split-adjusted all-time high of $114.45 per share after the streaming service operator reported stronger than expected second quarter results, including higher than expected Q2 subscriber metrics, prompting a large number of research firms to raise their price targets on the stock... The third-largest U.S. bank, Citigroup (C), posted second quarter profit, excluding adjustments and one-time items, of $1.45 per share, beating the $1.34 average estimate of analysts. Goldman Sachs (GS) reported Q2 earnings per share of $1.98, which fell far short of the consensus forecast of $3.89. However, the firm recorded $1.45B in net provisions for litigation and regulatory matters, which reduced EPS for the quarter by $2.77. Goldman Chairman and CEO Lloyd Blankfein said the bank was "pleased" with its quarterly performance, adding that while "uncertainty in the EU" weighed on investors’ conviction, many of its businesses continued to benefit from generally improving economic conditions. Citi shares rose 3.5% following its report, while Goldman shares slipped a bit more than 1.5%... eBay (EBAY), which is set to split from PayPal (PYPL) in just a few days, reported better than expected earnings for the still-combined company. eBay also announced an additional $1B stock repurchase authorization, bringing its total buyback allowance to $3B, and confirmed it reached a deal to sell eBay Enterprise to a consortium consisting of Sterling Partners, Permira Funds and others for $925M. MAJOR MOVERS: Among the notable gainers was Amira Nature Foods (ANFI), which advanced 16% after the company reported earnings and said it sees "double-digit" revenue growth in its new fiscal year. Also higher was Philip Morris (PM), which gained 3% after reporting better than expected earnings and revenue, excluding certain items. Among the noteworthy losers was Rovi (ROVI), which dropped 16.5% after Netflix was granted a motion of summary judgment invalidating all five of the remaining Rovi patents that were being contested in litigation between the companies. Also lower was Garmin (GRMN), which fell 9% after reporting preliminary Q2 earnings that fell short of expectations, citing the negative impact of currency movements and a "more promotional pricing environment" in the fitness segment. INDEXES: Near midday, the Dow was up 35.47, or 0.2%, to 18,085.64, the Nasdaq was up 54.08, or 1.06%, to 5,153.02, and the S&P 500 was up 14.10, or 0.67%, to 2,121.50.
10:12 EDTGSGoldman Sachs shares down 1.25% to $210.30 as conference call continues
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10:09 EDTGSGoldman Sachs CFO says litigation charges 'very unpredictable'
Says digital banking effort "in early days." Says not sure how Fed will include GSIB in CCAR.
09:53 EDTGSGoldman Sachs says Greece news 'weighed on spread-sensitive parts of business'
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09:49 EDTGSGoldman Sachs CFO says conditions got tougher toward end of Q2
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09:45 EDTGSGoldman Sachs CFO says new regulations have leveled playing field
09:45 EDTGSGoldman Sachs: Potential share repurchases to be back-end weighted
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09:39 EDTGSGoldman Sachs says FICC faced 'difficult operating environment' in Q2
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09:08 EDTGSOn The Fly: Pre-market Movers
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07:42 EDTGSGoldman says recorded $1.45B in provisions for litigation, regulatory matters
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07:41 EDTGSGoldman Sachs reports Q2 investment management revenue up 14% to $1.65B
Net revenues in Investment Management were $1.65B for the second quarter of 2015, 14% higher than the second quarter of 2014 and 4% higher than the first quarter of 2015. The increase in net revenues compared with the second quarter of 2014 was due to significantly higher incentive fees, as well as higher management and other fees and transaction revenues. During the quarter, total assets under supervision increased $5 billion to $1.18T. Long-term assets under supervision increased $11B, including net inflows of $14B and net market depreciation of $3B, both primarily in fixed income assets. Liquidity products decreased $6B.
07:40 EDTGSGoldman Sachs reports Q2 institutional client services revenue $3.6B
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07:39 EDTGSGoldman Sachs reports Q2 investment banking revenue up 13% to $2.02B
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07:38 EDTGSGoldman Sachs CEO says 'pleased' with performance in Q2
"We are pleased with our performance for the quarter,” said Lloyd C. Blankfein, Chairman and CEO. “While uncertainty in the EU weighed on investors’ level of conviction, many of our businesses continued to benefit from generally improving economic conditions and healthy client activity.”
07:38 EDTGSGoldman Sachs reports Q2 EPS $4.75 ex-items, consensus $3.89
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07:37 EDTGSGoldman Sachs reports Common Equity Tier 1 ratio 11.8% at June 30
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07:36 EDTGSGoldman Sachs reports Q2 EPS $1.98, consensus $3.89
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07:19 EDTFNMA, FMCCBipartisan Policy Center to hold a discussion on housing finance reform
With the seventh anniversary of government conservatorships of Freddie Mac and Fannie Mae approaching, Representatives Neugebauer and Delaney discuss the prospects for housing finance reform during the remainder of this session of Congress in a discussion being held in Washington, D.C. on July 16 at 1:30 pm. Webcast Link
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