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Stock Market & Financial Investment News

News Breaks
January 11, 2013
06:04 EDTGS, CLWR, S, C, WFC, BAC, MS, USB, JPM, HBCOn the Fly: Periodicals Wrap-Up
WALL STREET JOURNAL: U.S. banks are struggling with a flood of deposits when many lenders are having difficulty making new loans, spelling trouble for the industry as banks prepare to post Q4 numbers, the Wall Street Journal reports...New rules meant to simplify and standardize consumer home loans could create problems for home builders and real estate brokers, which say the rules will hurt their in-house mortgage services operations, the Wall Street Journal reports...REUTERS: Two top Fed policymakers expressed discomfort with the U.S. central bank's easy monetary policy, in comments suggesting Fed Chairman Ben Bernanke may face more dissent this year. Kansas City Fed President Esther George warned that the Fed's near-zero interest-rate policy could spark inflation, as did St. Louis Fed President James Bullard, Reuters reports...A Delaware judge refused to fast-track a shareholder class action lawsuit seeking to block Sprint Nextel’s (S) deal to buy Clearwire (CLWR), said Crest Financial Ltd, Clearwire's largest shareholder after Sprint, Reuters reports...BLOOMBERG: The FBI’s Washington field office has taken a central role in the U.S. probe of the manipulation of interest rates that has entangled banks around the world, such as the U.S. investigation into the rigging of benchmarks including the London Interbank Offered Rate, Bloomberg reports...Charoen Pokphand Group Co. said it has the resources to complete a planned purchase of a $9.4B stake in China’s Pin An Insurance (Group) Co., Bloomberg reports.
News For GS;JPM;USB;MS;BAC;WFC;C;S;CLWR;HBC From The Last 14 Days
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September 8, 2014
05:40 EDTBACBank of America upgraded to Buy from Neutral at Goldman
Goldman Sachs upgraded its rating on Bank of America (BAC) shares to Buy citing the resolution of a lot of the bank's legal issues and the shift of its earnings mix towards higher growth businesses. Goldman raised its price target for shares to $19 from $17. Bank of America closed Friday down 9c to $16.02.
September 7, 2014
20:37 EDTSApple's new iPhones face risk as carriers begin subsidy phase out, WSJ says
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September 5, 2014
16:01 EDTBACOptions Update; September 5, 2014
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10:31 EDTSSprint reaches 4G LTE roaming agreements with 15 rural carriers
Sprint announced that it has reached 4G LTE agreements with 15 additional rural and regional network carriers as part of the Rural Roaming Preferred Provider program it announced with Competitive Carriers Association earlier this year. The program gives smaller carriers a clear path forward to high speed mobile broadband solutions by providing the carriers low-cost access to Sprint’s nationwide 4G LTE network and an opportunity to access an expanded range of mobile devices.
10:05 EDTMSOn The Fly: Analyst Downgrade Summary
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09:06 EDTGS, JPM, BAC, CCFTC concerned about banks shifting trading operations overseas, WSJ says
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07:48 EDTMSMorgan Stanley downgraded to Neutral from Outperform at Macquarie
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07:26 EDTJPM, BAC, CApple strikes transaction fee discount deals, Bank Innovation says
Apple (AAPL) has reached deals with American Express (AXP), JPMorgan (JPM), Citigroup (C), Capital One (COF), and Bank of America (BAC) to lower card transaction fees for its soon to be launched payments venture, said Bank Innovations, citing an earlier report from Tom Noyes and confirmation by its own sources. Apple has both convinced them to consider its transactions as “card present,” which carries a lower discount rate, and has also managed to bump down the actual “card present” rate by 15 to 25 basis points, according to people with knowledge of the matter, the report noted. Reference Link
06:27 EDTJPMHealthCare.gov insurance site breached by hacker in July, WSJ reports
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September 4, 2014
16:00 EDTBACOptions Update; September 4, 2014
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09:35 EDTCActive equity options trading on open
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07:44 EDTMSMorgan Stanley jv questioned by Chinese fraud investigators, FT says
Investigators from a Chinese regional prosecutors’ office visited the offices of Morgan Stanley’s joint venture as part of their probe into a former senior official who is detained under suspicion of taking bribes, reported Financial Times. Reference Link
06:54 EDTMSEuropean Commission clears Rosneft's purchase of Morgan Stanley's oil unit
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06:40 EDTMS, GS, C, USB, JPM, WFC, BACAgencies finalize liquidity rule for large banks
The Federal Reserve Board, the Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency finalized a rule yesterday that they said would strengthen the liquidity positions of large financial institutions. The rule will for the first time create a standardized minimum liquidity requirement for large and internationally active banking organizations., according to the agencies. Each institution will be required to hold high quality, liquid assets, or HQLA, such as central bank reserves and government and corporate debt that can be converted easily and quickly into cash in an amount equal to or greater than its projected cash outflows minus its projected cash inflows during a 30-day stress period, the agencies explained. The ratio of the firm’s liquid assets to its projected net cash outflow is its “liquidity coverage ratio,” or LCR, they said. The LCR will apply to all banking organizations with $250B or more in total consolidated assets or $10B or more in on-balance sheet foreign exposure and to these banking organizations’ subsidiary depository institutions that have assets of $10B or more, the agencies reported. The rule also will apply a less stringent, modified LCR to bank holding companies and savings and loan holding companies that do not meet these thresholds, but have $50B or more in total assets. Bank holding companies and savings and loan holding companies with substantial insurance or commercial operations are not covered by the final rule. The final rule is largely identical to the proposed rule, with a few key adjustments in response to comments from the public, the agencies stated. Those adjustments include changes to the range of corporate debt and equity securities included in HQLA, a phasing-in of daily calculation requirements, a revised approach to address maturity mismatch during a 30-day period, and changes in the stress period, calculation frequency, and implementation timeline for the bank holding companies and savings and loan companies subject to the modified LCR. Publicly traded companies in the space include Bank of America (BAC), Citigroup (C), Goldman Sachs (GS), JPMorgan (JPM), Morgan Stanley (MS), U.S. Bancorp (USB) and Wells Fargo (WFC).
06:34 EDTGSBlackstone pledges $200M to Brown's Arkkan Capital, Bloomberg says
Blackstone (BX) pledged $200M to Arkkan Capital Management, a firm that is supervised by Jason Brown, who is the former leader of Goldman Sach's (GS) Global Special Situations Group, according to Bloomberg, citing a person with knowledge of the matter. Reference Link
06:30 EDTJPMJPMorgan probe reveals computers rerouted data to Russia, Bloomberg says
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06:30 EDTGSITG launching dark pool for bonds, WSJ reports
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06:13 EDTWFCWells Fargo implied volatility of 12 at lower end of index mean range
06:13 EDTCCitigroup settles potential civil liability for violating sanction programs
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06:10 EDTGSGoldman overseeing early share trading in Alibaba IPO, Reuters says
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