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Stock Market & Financial Investment News

News Breaks
November 16, 2012
06:10 EDTC, MS, WFC, USB, BAC, JPM, GSMajor banks have cut 160,000 jobs as many leave the industry, Reuters reports
Big banks have announced some 160,000 job cuts since early last year, with more layoffs coming as the industry restructures, reports Reuters. Many will leave the shrinking sector for good as redundancies outpace new hires by roughly two-to-one. A Reuters analysis of job cuts announced by 29 major banks showed the lay-offs were much bigger in Europe than in Asia or the U.S. Reference Link
News For GS;JPM;USB;MS;BAC;WFC;C From The Last 14 Days
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April 8, 2014
06:46 EDTGSGoldman expects Orban risk as Hungary bonds suffer, Bloomberg says
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06:41 EDTCCitigroup plans to close one third of Korea branches, Reuters says
Citigroup announced that it is planning to close nearly one third of its Korea branches, which makes it the third global bank to reduce its presence in the country in the last year due to increasing expenses and intense competition, according to Reuters, citing a statement from the bank. Reference Link
06:24 EDTCCitigroup may miss return-on-tangible-common-equity goal, WSJ reports
According to sources, Citigroup may miss a its 2015 target for return-on-tangible-common-equity after the Federal Reserve last month rejected the bank's capital plan, the Wall Street Journal reports. The Fed denied Citigroup's proposal to boost its dividend and increase stock buybacks on March 26, making it unlikely Citigroup can meet this key profitability target. Reference Link
April 7, 2014
19:57 EDTWFC, JPM, MS, C, GS, BAC, USBFederal Reserve announces extension on some CLOs
The Federal Reserve Board announced that it intends to exercise its authority to give banking entities two additional one-year extensions to conform their ownership interests in and sponsorship of certain collateralized loan obligations, or CLOs, covered by section 619 of the Dodd-Frank Wall Street Reform and Consumer Protection Act, commonly referred to as the Volcker rule. Section 619 of the Dodd-Frank Act directed the board to adopt rules for the conformance period and the board previously extended the conformance period for all activities and investments by one year to July 21, 2015. To ensure effective compliance, the board intends to grant banking entities two additional one-year extensions, which together would extend until July 21, 2017, to conform their ownership interests in and sponsorship of CLOs to the statute. Publicly traded companies that may be impacted by the announcement include Bank of America (BAC), Citigroup (C), Goldman Sachs (GS), JPMorgan (JPM), Morgan Stanley (MS), U.S. Bancorp (USB) and Wells Fargo (WFC). Reference Link
17:16 EDTCCitigroup to resolve certain private-label securitization repurchase claims
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16:01 EDTCOptions Update; April 7, 2014
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10:00 EDTCOn The Fly: Analyst Upgrade Summary
Agios Pharmaceuticals (AGIO) upgraded to Overweight from Neutral at JPMorgan... Alcoa (AA) upgraded to Hold from Sell at Deutsche Bank... Align Technology (ALGN) upgraded to Outperform from Market Perform at Barrington... Analog Devices (ADI) upgraded to Neutral from Sell at Goldman... B&G Foods (BGS) upgraded to Outperform from Sector Perform at RBC Capital... Citigroup (C) upgraded to Neutral from Underweight at HSBC... Intel (INTC) upgraded to Outperform from Sector Perform at Pacific Crest... JetBlue (JBLU) upgraded to Neutral from Sell at Goldman... Kindred Healthcare (KND) upgraded to Outperform from Sector Perform at RBC Capital... Lennox (LII) upgraded to Outperform from Market Perform at Wells Fargo... Newmont Mining (NEM) upgraded to Hold from Sell at Deutsche Bank... PBF Energy (PBF) upgraded to Buy from Neutral at Citigroup... Renasant (RNST) upgraded to Outperform from Market Perform at Raymond James... Select Medical (SEM) upgraded to Outperform from Sector Perform at RBC Capital... Ultra Petroleum (UPL) upgraded to Outperform from Market Perform at Raymond James... Under Armour (UA) upgraded to Buy from Neutral at Sterne Agee... Hercules Technology (HTGC) upgraded to Buy from Hold at Sandler ONeill... Standard Pacific (SPF) upgraded to Outperform from Market Perform at Raymond James... Yelp (YELP) upgraded to Outperform from Perform at Oppenheimer... Netflix (NFLX) upgraded to Outperform from Perform at Oppenheimer... Pandora (P) upgraded to Outperform from Neutral at Wedbush.
08:56 EDTJPMJPMorgan, U.K.'S DFID, CDC to invest $20M combined in Novastar Ventures
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06:58 EDTMS, CDark markets could cause more harm than high-frequency trading, Reuters says
After a book by financial author Michael Lewis sparked worries that high-speed traders have been rigging the U.S. stock market, former regulators and academics say a more serious threat to investors could be the increasing amount of trading that happens outside of exchanges, reported Reuters. Top internalizers include units of KCG Holdings (KCG), Citadel, UBS (UBS), and Citigroup (C). Dark pool operators include Credit Suisse (CS) and Morgan Stanley (MS). In an attempt to earn back some of the retail orders, exchanges such as IntercontinentalExchange Group's (ICE) New York Stock Exchange, Nasdaq (NDAQ), and BATS Global Markets, have allowed brokerages to place dark pool-style orders on their platforms, with the trade hidden until after it is executed. Reference Link
06:28 EDTGSGoldman sees opportunity to slice China junk debt after gains, Bloomberg says
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06:05 EDTCCitigroup upgraded to Neutral from Underweight at HSBC
HSBC upgraded Citigroup to Neutral citing the recent underperformance of shares. The firm raised its price target for the stock to $51 from $48.
April 4, 2014
16:00 EDTC, BACOptions Update; April 4, 2014
iPath S&P 500 VIX Short-Term Futures up 89c to 41.88. Option volume leaders: AAPL C P NFLX LNG BAC INTC TSLA TWTR according to Track Data.
12:16 EDTGSGoldman CEO Blankfein awarded raise for 2013, WSJ says
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10:02 EDTJPMOn The Fly: Analyst Upgrade Summary
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08:49 EDTMSMorgan Stanley well positioned to beat Q1 Street expectations, says Macquarie
Macquarie said Morgan Stanley is best positioned to beat Q1 Street expectations of 62c due to mix and easier comps.
07:27 EDTGS, MSMorgan Stanley pushes back at HFT accusations, FT says
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07:20 EDTJPMJP Morgan April volatility up into Q1 and outlook for capital return
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07:18 EDTWFCWells Fargo April volatility elevated at 19 into Q1 and outlook
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06:42 EDTJPMJPMorgan selling part of retirement business to Great-West, WSJ reports
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06:36 EDTJPMJPMorgan upgraded to Outperform from Neutral at Macquarie
Macquarie upgraded JPMorgan to Outperform from Neutral based on relative valuation, improving U.S. and European economies, improving business mix and potential for increased buybacks. Price target raised to $68 from $62.
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