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Stock Market & Financial Investment News

News For C;BAC;GS;MS;USB;WFC;JPM From The Last 14 Days
Check below for free stories on C;BAC;GS;MS;USB;WFC;JPM the last two weeks.
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July 14, 2014
12:21 EDTCOn The Fly: Midday Wrap
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11:42 EDTCCitigroup says will continue to issue perferred stock
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11:26 EDTCCitigroup says different approaches on table for One Main
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10:56 EDTCCitigroup says committed to expense targets for 2015
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10:51 EDTCAG Schneiderman announces $182M for New Yorkers as part of Citi settlement
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10:37 EDTCCitigroup CFO says feels good about CCAR progress
Sees sequential decline in core expenses in each of next 2 quarters. Says does not see significant Citi Holdings legal costs in 2H.
10:29 EDTCCitigroup sees Citi Holdings remaining profitable for the rest of the year
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10:26 EDTCCitigroup sees NIM roughly flat to Q2 levels for rest of year
Says on track for headcount reduction goal in 2014. Says sees sequential revenue growth in Korea during the year. Sees FY NCL rate in Asia, Latin America roughly in line with 1H levels.
10:25 EDTCDOJ: Settlement doesn't absolve Citigroup, others from possible criminal charges
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10:08 EDTCCitigroup CEO says sees improved revenue picture in 2H
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10:00 EDTWFCOn The Fly: Analyst Downgrade Summary
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09:48 EDTCCitigroup likely to outperform today following report, says Wells Fargo
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09:38 EDTCCitigroup says headwinds abating in Global Consumer Banking
Says Q2 Markets revenues were impacted by low volatility, ongoing macro uncertainty. Says results showing progress despite difficult operating environment. Says seeing continued underlying growth in Treasury & Trade Solutions. Comments from slides that will be presented on the Q2 earnings conference call.
09:36 EDTCActive equity options trading on open
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09:16 EDTCOn The Fly: Pre-market Movers
HIGHER: Citigroup (C), up 3.6% after reporting better than expected Q2 results, announcing $7B settlement with DOJ and FDIC... Apple (AAPL), up 0.7% after Barclays upgrades stock to Overweight, Morgan Stanley raises Apple estimates above consensus... Shire (SHPG), up 1.6% after receiving revised proposal from AbbVie (ABBV) of GPB 53.20 per share, which it says it would be willing to recommend to Shire shareholders. AbbVie is down 2.8% after the news... Mylan (MYL), up 4% after acquiring Abbott's (ABT) non-U.S. developed markets specialty and branded generics business in all-stock transaction valued at about $5.3B. Abbott up 1.6% after the news... Progenics (PGNX), up 13% after FDA says RELISTOR can be approved on data submitted in sNDA... Exelixis (EXEL), up 13% after announcing coBRIM Phase 3 trial met primary endpoint... URS (URS) up 8% after acquired by AECOM Technology (ACM) for $56.31 per share. AECOM shares alos up 2% after deal announcement... Whiting Petroleum (WLL), up 4.5% after agreeing to acquire Kodiak Oil & Gas (KOG) in a $6B transaction. Kodiak Oil & Gas up 3%... Kandi Technologies (KNDI), up 11% after announcing JV's sale of 4,114 EVs in Q2. LOWER: Riverbed (RVBD), down 4.5% after saying it sees its Q2 adjusted EPS at low end of 26c-28c range... Harmonic (HLIT), down 13% after reporting preliminary Q2 earnings results.. EBay (EBAY), down 0.5% after downgraded at Pacific Crest, confirming partnership plans with Sotheby's (BID).
08:53 EDTWFCCapital One has positive read from Wells Fargo report, says Janney Capital
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08:35 EDTWFCWells Fargo price target raised to $56 from $51 at RBC Capital
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08:05 EDTCCitigroup reports Q2 Citi Holdings assets down 15% to $111B
Citi Holdings revenues in Q2 increased 33% versus the prior year period to $1.5B. Revenues in the second quarter 2014 included CVA/DVA of negative $1M compared to positive $15M in the prior year period. Excluding CVA/DVA, Citi Holdings revenues increased 35% to $1.5B primarily driven by the absence of repurchase reserve builds for representation and warranty claims in the current quarter, a higher level of gains on asset sales compared to the prior year and lower funding costs. As of the end of the quarter, total Citi Holdings assets were $111B, 15% below the prior year period, and represented approximately 6% of total Citigroup assets.
08:03 EDTCCitigroup reports Q2 Citicorp revenue $17.88B
Reports Q2 Citicorp revenues of $17.9B declined 8% from the prior year period. CVA/DVA, reported within ICG, was negative $32M in Q2, or negative $20M after-tax, compared to positive $462M, or $284M after-tax, in the prior year period. Excluding CVA/DVA, revenues were down 5% from Q213, reflecting declines in both GCB and ICG revenues of 3% and 7%, respectively. GCB revenues of $9.4B declined 3% from the prior year period, as lower U.S. mortgage refinancing activity, regulatory changes, repositioning actions in certain markets and the continued impact of spread compression globally more than offset the impact of the Best Buy portfolio acquisition and ongoing volume growth in most international businesses. ICG revenues declined 11% from the prior year period to $8.5B. Excluding the impact of CVA/DVA, revenues were $8.5B, 7% lower than the prior year period, primarily reflecting a decline in Fixed Income Markets and Equity Markets revenues, partially offset by higher Investment Banking revenues.
08:03 EDTCCitigroup CEO: Businesses showed resilience during uneven economic environment
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