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Stock Market & Financial Investment News

News For GS;JPM;USB;MS;BAC;WFC;C From The Last 14 Days
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February 12, 2016
17:09 EDTJPMJPMorgan a bargain at current levels, Barron's reports
JPMorgan, trading for just for 8.4 times next year's earnings and 0.9 times book value, looks like a bargain, Barron's reports. The bank is expected to eke out earnings growth this year, and return to high-single-digit year-over-year EPS growth in 2017 and beyond, Barron's added. Reference Link
16:24 EDTJPMOn The Fly: Top stock stories for Friday
Stocks began the session in positive territory and never looked back. The early catalyst was a rally in oil prices, which continued moving higher throughout the day and settled up more than 12%. The rally was spurred by comments that came to light late in the day yesterday from the United Arab Emirates' energy minister, who said the Organization of the Petroleum Exporting Countries was willing to cooperate on an output cut. Despite today's strong performance by each of the major equity indexes, the market still had a down week, as today's rally came on the heels of four very tough days. U.S. markets will be closed Monday for President's Day, but Chinese markets will reopen after being closed all of this week for their celebration of New Year. ECONOMIC EVENTS: In the U.S., retail sales increased 0.2% in January, versus expectations for an increase of 0.1%. Import prices dropped 1.1%, while export prices fell 0.8% last month. The University of Michigan's consumer sentiment index fell to 90.7 in the preliminary February print, versus expectations for a 92.3 reading. In Europe, the euro zone's gross domestic product grew by 0.3% in the last three months of 2015, meeting expectations. In Asia, Japan suffered another ugly day, with its key indexes each falling about 5%, after the market reopened following a one-day holiday. COMPANY NEWS: Shares of Jack Dorsey's point-of-sale payment firm Square (SQ) advanced 7.9% to $9.30 after credit card giant Visa (V) disclosed details about the stake it holds in the company. Visa, which made an investment in the start-up prior to its IPO, disclosed in a filing that it owns Class B shares of Square that could be converted into about 3.52M Class A shares, which would leave Visa with about 10% of that class of shares. Shares of Twitter (TWTR), which is also headed by Jack Dorsey, followed Square higher, rising 11% to $15.89... Also rising were shares of JPMorgan (JPM), which gained 8.3% to close at $57.46 after CEO Jamie Dimon disclosed he bought 500,000 shares of the bank's stock in the open market yesterday. MAJOR MOVERS: Among the noteworthy gainers was Intercept Pharmaceuticals (ICPT), which jumped 27.5% to $120.22 after Reuters reported that the company received interest from potential suitors and is now exploring a possible sale. Also higher was Groupon (GRPN), which rallied 29% to $2.89 after the Internet deal service operator reported better than expected quarterly results. Among the notable losers was Pandora (P), which fell 12% to $7.99 after the company reported lower than expected fourth quarter earnings after last night's closing bell. The pullback comes on the heels of the stock's 8.5% advance yesterday after the New York Times said the music service operator has held talks about selling the company. On the company's earnings conference call last night, Pandora's management said that they won't comment on any potential sale of the company, adding that they are "very confident" in their ability to continue to drive significant value for holders. Also lower after reporting quarterly results was videogame maker Activision Blizzard (ATVI), which slid 7.9%. Meanwhile, shares of L Brands (LB) fell 2.5% after announcing that Victoria's Secret CEO Sharen Jester Turney will resign. INDEXES: The Dow rose 313.66, or 2.0%, to 15,973.84, the Nasdaq gained 70.68, or 1.66%, to 4,337.51, and the S&P 500 added 35.70, or 1.95%, to 1,864.78.
14:11 EDTC, JPMCiti, HSBC being targeted for Libor manipulation by regulators, WSJ says
The U.S. Commodity Futures Trading Commission, or CTFC, and the U.K. Financial Conduct Authority are targeting firms including Citigroup (C) and HSBC Holdings (HSBC) for alleged manipulation of Libor interest rates, according to the Wall Street Journal, citing people close to the investigation. JPMorgan (JPM), is still being investigated by the CFTC, but this may not lead to enforcement action, the sourced added, while the U.K. regulator dropped its rate-rigging probe into J.P. Morgan last year. Reference Link
12:33 EDTJPMOn The Fly: Top stock stories at midday
Stocks on Wall Street began the session in positive territory and have continued to gain upside momentum throughout the session. The are being aided by a surge in oil prices, which have rallied more than 10% on the heels of reports that OPEC nations may be ready to talk about a production freeze. The market, hoping to put an end to it recent losing streak, looks on track to do so with participation likely to tail off in the afternoon ahead of a long holiday weekend. ECONOMIC EVENTS: In the U.S., retail sales increased 0.2% in January, versus expectations for an increase of 0.1%. Import prices dropped 1.1%, while export prices fell 0.8% last month. The University of Michigan's consumer sentiment index fell to 90.7 in the preliminary February print, versus expectations for a 92.3 reading. In Europe, the euro zone's gross domestic product grew by 0.3% in the last three months of 2015, meeting expectations. In Asia, Japan suffered another ugly day, with its key indexes each falling about 5%, after the market reopened following a one-day holiday. COMPANY NEWS: Square (SQ) advanced 8% after credit card giant Visa (V) disclosed in a regulatory filing that it holds shares in the company that could convert to the equivalent of a 9.99% stake in the payments up-and-comer. The details about the stake held by the Dow member, which has held an investment in Square since prior to its IPO, also appeared to give a boost to Twitter (TWTR), which both share Jack Dorsey as their Chief Executive Officer... The Dow is being helped by the advance in shares of JPMorgan (JPM), which are higher by 8% after its CEO Jamie Dimon disclosed he bought 500,000 shares of the bank's stock in the open market yesterday. MAJOR MOVERS: Among the noteworthy gainers was Baidu (BIDU), which rallied 9% after it received a non-binding proposal to acquire Qiyi.com. Also higher were Groupon (GRPN) and Wynn Resorts (WYNN), which gained 27.5% and 13.5%, respectively, after reporting quarterly earnings. Among the notable losers was Pandora (P), which fell 12% after the company reported lower than expected fourth quarter earnings per share. The loss gave back all of the gains, and then some, that the stock enjoyed yesterday after the New York Times said the music service operator has held talks about selling the company. Also lower were Activision Blizzard (ATVI) and CBS (CBS), which were down 9.5% and 1%, respectively, after reporting quarterly results. INDEXES: Near midday, the Dow was up 236.58, or 1.51%, to 15,896.76, the Nasdaq was up 58.02, or 1.36%, to 4,324.85, and the S&P 500 was up 28.03, or 1.53%, to 1,857.11.
11:47 EDTMSUBS hires Scott Francoeur as head of FRC emerging markets, Business Insider says
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09:41 EDTJPMJPMorgan rallies after Dimon share purchase
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09:24 EDTJPMOn The Fly: Pre-market Movers
UP AFTER EARNINGS: Groupon (GRPN), down 19.6%... USA Technologies (USAT), up 7.1%... Wynn Resorts (WYNN), up 3.9%. ALSO HIGHER: Square (SQ), up 15.8% after Visa (V) disclosed 9.99% stake in the company... Suncor Energy (SU), up 4.5% after being upgraded to Buy from Neutral at Citi... JPMorgan (JPM), up 4.9% after CEO Jamie Dimon buys 500,000 shares of common stock... Sunedison (SUNE), up 4.4% after the Wall Street Journal reported that a judge issued a temporary restraining order barring SunEdison and affiliate Terraform Power (TERP) from unusual asset moves. DOWN AFTER EARNINGS: Cyberark (CYBR), down 11.5%... Select Comfort (SCSS), down 17.7%... Zillow (Z), down 4.9%... Qlik Technologies (QLIK), down 7.5%... Activision Blizzard (ATVI), down 6.1%.
07:24 EDTC, JPM, USB, BACCredit card stocks discounting unlikely recession, says Wells Fargo
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06:36 EDTJPMOptions expected to be active: AIG WYNN P ATVI Z COLM FEYE NUS GRPN JPM CBS
05:59 EDTJPMJPMorgan volatility elevated into CEO Jamie Dimon buys 500,000 shares
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05:27 EDTJPMJPMorgan CEO Jamie Dimon buys 500,000 shares of common stock
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February 11, 2016
17:16 EDTJPMJPMorgan CEO Jamie Dimon buys 500,000 shares of company stock, DJ says
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16:01 EDTJPM, C, BACOptions Update; February 11, 2016
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13:42 EDTMSMorgan Stanley reshuffles wealth management division, Reuters reports
Morgan Stanley has reorganized its wealth management unit after the appointment of Andy Saperstein and Shelley O'Connor as co-heads, Reuters reports, citing a memo reviewed by Reuters and confirmed by a Morgan Stanley spokeswoman. Bill McMahon and Rick Skae will still be Morgan Stanley's two regional division heads, while Vince Lumia will assume responsibility for the strategic lead management group along with his role as the head of private wealth management, the report says. Reference Link
12:52 EDTCStocks with call strike movement; FB C
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11:26 EDTMSNY Attorney General-led group confirms $3.2B settlement with Morgan Stanley
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10:35 EDTGS, BACActive calls: EA MSFT SPY GS
Active calls: EA 2/19/16 60, MSFT 3/18/16 52.50, SPY 2/19/2016 185, GS 4/15/16 165, BAC 1/20/17 13
10:31 EDTMSMorgan Stanley to pay $3.2B to settle financial crisis charges, Reuters reports
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09:36 EDTC, BACActive equity options trading on open
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08:02 EDTUSBU.S. Bancorp names John Steward president of retail payment solutions
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