New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
December 24, 2012
06:19 EDTWFC, USB, BAC, JPM, C, MS, GSBig bond dealers holding onto Treasuries, Bloomberg reports
Major bond dealers are increasingly reluctant to give up their record holdings of Treasuries, providing support for a rally in the world’s most liquid debt market, reports Bloomberg. Goldman Sachs (GS), JPMorgan Chase (JPM) and the other primary dealers of U.S. government securities reduced the amount of bonds they offered to the Fed to average of $8.04B a day in the past two weeks, from the $11.6B in September 2011, when the central bank began its Operation Twist stimulus program, according to Bloomberg data. At the same time, Wall Street’s holdings of Treasuries more than doubled since March. Reference Link
News For GS;JPM;USB;MS;BAC;WFC;C From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
1 | 2 | 3 | all recent news | >>
November 19, 2014
06:14 EDTWFCWells Fargo unit to launch Europe infrastructure fund
Subscribe for More Information
November 18, 2014
17:34 EDTWFCWells Fargo, U.S. not as optimistic on settling mortgage suit, Reuters says
Subscribe for More Information
16:48 EDTWFCWells Fargo, U.S no longer confident on settlement, Bloomberg says
Subscribe for More Information
09:56 EDTWFCOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Allergan (AGN) downgraded to Market Perform from Outperform at William Blair... Wells Fargo (WFC) downgraded to Market Perform from Outperform at BMO Capital... Allergan downgraded to Neutral from Buy at Guggenheim... Allergan downgraded to Neutral from Buy at SunTrust... Basic Energy (BAS) downgraded to Neutral from Buy at SunTrust... CBS (CBS) downgraded to Neutral from Overweight at Atlantic Equities... Key Energy (KEG) downgraded to Neutral from Buy at SunTrust... Macy's (M) downgraded to Neutral from Buy at BofA/Merrill... Statoil (STO) downgraded to Neutral from Overweight at JPMorgan... Urban Outfitters (URBN) downgraded to Market Perform from Outperform at Telsey Advisory... Urban Outfitters downgraded to Market Perform from Outperform at William Blair... Urban Outfitters downgraded to Neutral from Overweight at Atlantic Equities... Baker Hughes (BHI) downgraded to Hold from Buy at Argus.... Precision Drilling (PDS) downgraded to Market Perform at Raymond James.
09:02 EDTMSMorgan Stanley Wealth Management forms Global Sports & Entertainment unit
Subscribe for More Information
09:01 EDTJPMJPMorgan announces municipal bond agreement with LPL Financial
JPMorgan Chase & Co. (JPM) announced that it has signed an agreement with LPL Financial (LPLA) to provide access to new issue municipal bonds to LPL financial advisors. Under the agreement, LPL will be a preferred retail dealer for J.P. Morgan, further expanding the investment bank’s distribution channels for new issue municipal bonds.
08:13 EDTWFCWells Fargo downgraded at BMO Capital
Subscribe for More Information
07:24 EDTWFCWells Fargo to hold a forum
Subscribe for More Information
06:20 EDTWFCWells Fargo downgraded to Market Perform from Outperform at BMO Capital
Subscribe for More Information
November 17, 2014
14:16 EDTCCitigroup reports October credit loss 2.18% vs. 2.53% last month
Subscribe for More Information
10:15 EDTBACBank of America reports October default rate 2.81% vs. 2.93% last month
Reports October delinquency rate 1.94% vs. 1.92% last month.
10:06 EDTJPMSears Canada, JPMorgan Chase announce changes to credit card program
Subscribe for More Information
06:18 EDTJPMJPMorgan reports October net credit losses 2.26% vs. 2.24% last month
Reports October delinquency rate 1.34% vs. 1.30% last month.
November 16, 2014
17:42 EDTJPMJPMorgan settles mineral rights suit in Texas, Bloomberg says
JPMorgan settled a lawsuit by Texas mineral-rights owners that accused the bank of negotiating "sweetheart deals" with oil company clients to cheat them out of $681M in compensation, says Bloomberg. Beneficiaries of the South Texas Syndicate Trust alleged that JPMorgan entered into favorable deals for its commercial banking clients on the trust’s rights in the Eagle Ford, added Bloomberg. Reference Link
November 13, 2014
17:35 EDTWFCOcwen unit signs mutual termination agreement with Wells Fargo
Subscribe for More Information
17:32 EDTWFCWells Fargo, Ocwen agree to cancel sale of mortgage servicing rights
Wells Fargo & Co. (WFC) announced that its subsidiary, Wells Fargo Bank, N.A., and Ocwen Loan Servicing have mutually decided to cancel a previously announced sale to Ocwen of certain Wells Fargo residential mortgage servicing rights. Cancelation of the transaction is not expected to be material to Wells Fargo’s consolidated financial results.
12:53 EDTWFCWells Fargo sees Q4 mortgage originations to decline from Q3
Expects Q4 mortgage originations to decline from Q3, reflecting normal seasonality in purchase market, while gain on sale margin is expected to remain within range of last four quarters. Expects to operate within targeted efficiency ratio range of 55%-59% in Q4. Wells Fargo said that while there is potential for continued net interest margin pressure, focus remains on growing net interest income over time. The comapny said it expects future reserve releases absent signification deterioration in the economy, but expect a lower level of future releases as the rate of improvement in credit loans and loan portfolio grows. Expects share count to continue to decline in Q4 as result of anticipated net share repurchases. Says mortgage business profitable and very pleased with that segment. Comments taken from slides for presentation at Bank of America Merrill Lynch Banking and Financial Services Conference.
08:47 EDTGSGoldman Sachs management to meet with JMP Securities
Subscribe for More Information
08:33 EDTWFCWells Fargo sells federal student loans to Navient
Wells Fargo & Co. (WFC) Education Financial Services announced that Navient (NAVI) will purchase a principal balance of $8.5B of Federal Family Education Loan Program loans, which are included in Wells Fargo’s held-for-sale loan portfolio. Due to a change in federal law, Wells Fargo has not issued federal student loans since June 30, 2010. This sale supports Wells Fargo’s ongoing strategic focus on its private student lending business. “By selling these FFELP loans to Navient, Wells Fargo will be in a position to focus more on meeting the needs of our private student loan customers,” said John Rasmussen, head of Wells Fargo’s Education Financial Services. “We are deeply committed to the private student loan business because next to purchasing a home or saving for retirement, paying for an education is one of the most important financial events for our customers.” ). The sale is expected to close in a series of transactions, substantially all of which are expected to be completed in fourth quarter 2014, subject to customary closing conditions. Terms of the transaction were not disclosed and the sale is not material to Wells Fargo.
07:38 EDTJPMBloomberg Link to hold a conference
The Year Ahead: 2015 is being held in Washington, D.C. with a pre-conference dinner on November 13 followed by company presentations on November 14,
1 | 2 | 3 | all recent news | >>

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the theflyonthewall.com disclaimer & terms of use