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Stock Market & Financial Investment News

News For GS;JPM;USB;C;MS;WFC;BAC From The Last 14 Days
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March 4, 2015
11:34 EDTCCiti OneMain sale, Costco win both positive for shares, says Morgan Stanley
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11:29 EDTWFCSEC charges Wells Fargo's H.D. Vest with violating consumer protection rules
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11:25 EDTJPM, GSJPMorgan, Goldman Sachs win dismissal of price fixing claims, Reuters says
U.S. District Judge Katherine Forrest has dismissed the aluminum price fixing lawsuit against JPMorgan (JPM), Goldman Sachs (GS), and Pacorini Metals, reports Reuters. Forrest stated the evidence failed to suggest the companies participated in unlawful conduct. Reference Link
11:16 EDTJPM, GSJPMorgan, Goldman Sachs win dismissal of aluminum price-fixing suit, CNBC says
CNBC said in a tweet that JP Morgan and Goldman Sachs have won the dismissal of a U.S. aluminum price-fixing lawsuit. Reference Link
08:21 EDTCCiti sales of OneMain positive, says Bernstein
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08:00 EDTCCiti, MasterCard sign new global 10-year agreement
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07:22 EDTJPM, WFC, BAC, USB, CBanks, not Apple, on hook for 'post-Apple Pay fraud,' says Trustev
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March 3, 2015
16:23 EDTCOn The Fly: Closing Wrap
Stocks on Wall Street were lower, as the major averages receded from record levels. The Dow and S&P 500 closed yesterday at all-time highs, though the market was unable to build upon those records. Auto sales for February included disappointments for several companies, but that was quickly blamed on the poor weather during the month. With the economic calendar light, investors began looking forward to end of the week, when the highly anticipated monthly nonfarm payrolls are released. ECONOMIC EVENTS: In the U.S., no major economic data was reported. COMPANY NEWS: Automakers reported on their sales in the U.S. during February, with several falling short of expectations. Ford (F) reported sales fell about 2% last month compared to the prior year, and its stock fell 40c, or 2.41%, to $16.17 afterward. Shares of Fiat Chrysler (FCAU), which reported a 6% increase in U.S. sales last month, declined 52c, or 3.28%, to $15.31. General Motors (GM) reported its February U.S. sales rose a bit over 4%, but that was below the nearly 6% increase that had been forecast by analysts, and shares gained 19c, or 0.51%, to $37.80... Target (TGT) shares gained 32c, or 0.41%, to $78.00 as the company held its investor day meeting. During the meeting, the retailer guided for its fiscal 2015 EPS to be $4.45-$4.65, versus consensus $4.50, and projected that its sales will grow 2%-3% during the fiscal year. Target also said it is targeting $2B in share repurchases this year and said it expects 5%-10% annual dividend growth. MAJOR MOVERS: Among the notable gainers was Orexigen (OREX), which surged $1.85, or 31.95%, to $7.64 after the company disclosed that its weight loss drug, Contrave, demonstrated a statistically significant benefit over placebo for cardiovascular events when announcing a method of treatment patent was issued by the USPTO. Also higher was Springleaf Holdings (LEAF), which gained $12.19, or 32.05%, to $50.23 after agreeing to acquire OneMain Financial from Citigroup (C) for $4.25B. Among the noteworthy losers was Primoris Services (PRIM), which fell $3.87, or 18.35%, to $17.22 after reporting fourth quarter results that fell short of consensus expectations and were below last year’s fourth quarter. Also lower were shares of Micron (MU), which fell $1.58, or 5.06%, to $29.66 after Nomura downgraded the stock to Neutral from Buy. INDEXES: The Dow fell 85.26, or 0.47%, to 18,203.37, the Nasdaq lost 28.20, or 0.56%, to 4,979.90, and the S&P 500 declined 9.61, or 0.45%, to 2,107.78.
16:01 EDTBAC, COptions Update; March 3, 2015
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13:04 EDTJPMJPMorgan weekly flat into stress test results
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10:20 EDTJPMJPMorgan to pay $50M in settlement with Justice Department
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10:12 EDTCCitigroup volatility elevated into stress test results
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10:00 EDTCOn The Fly: Analyst Upgrade Summary
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09:35 EDTCActive equity options trading on open
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07:31 EDTCFortress Co-Chairman Wes Edens comments on Springleaf acquisition of OneMain
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07:15 EDTCSpringleaf to host conference call
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06:50 EDTJPMJPMorgan's consumer business outshining its investment bank, NY Times says
In a reversal from the last several years, JPMorgan's consumer banking business seems to be performing better than its investment bank, The New York Times wrote, after viewing presentations by the heads of both banks. The head of the consumer bank, Gordon Smith, is in line to succeed Jamie Dimon as JPMorgan's CEO if he steps down in the near future, the newspaper noted. Reference Link
06:34 EDTCCiti confirms sale of OneMain Financial To Springleaf to $4.25B
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06:32 EDTCSpringleaf confirms acquisition of Citi's OneMain for $4.25B
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06:06 EDTCCiti upgraded to Overweight from Neutral at JPMorgan
JPMorgan upgraded Citigroup (C) to Overweight saying the Costco (COST) co-branding credit card deal announced yesterday will add to revenue growth and return on assets. Further, the firm expects the Federal Reserve to approve Citi's capital return in 2015 and for the banking giant to achieve its operating efficiency targets this year. It upped its price target for shares to $58 from $54. Citi closed Monday up $1.07 to $53.49.
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