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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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September 30, 2014
10:01 EDTBACBank of America begins rollout of chip debit cards
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07:12 EDTCCitigroup head feels banks to likely earn more stable profits, Bloomberg says
Citigroup CEO Michael Corbat said that he thinks that banks will most likely gross steadier profits, though the levels will not be as high as those prior to the 2008 financial crisis, as company adjusts to new regulations and pressure to reduce risk, according to Bloomberg, citing comments from Corbat. Reference Link
September 29, 2014
11:45 EDTBACBofA to pay $7.65M to SEC to settle regulatory capital overstatement charges
The Securities and Exchange Commission charged Bank of America Corporation with violating internal controls and recordkeeping provisions of the federal securities laws after it assumed a large portfolio of structured notes and other financial instruments as part of its acquisition of Merrill Lynch. Bank of America agreed to pay a $7.65M penalty to settle the charges stemming from regulatory capital overstatements that it made due to its internal accounting control deficiencies and books and records failures. In addition to the $7.65M penalty, the SECís order requires Bank of America to cease and desist from committing or causing any violations or future violations of Sections 13(b)(2)(A) and 13(b)(2)(B) of the Securities Exchange Act of 1934.
07:58 EDTBAC, USB, WFC, GS, MS, C, JPMWarren calls for hearing on 'disturbing' Fed tapes, Reuters reports
Two members of the the Senate Banking Committee, Democrats Elizabeth Warren and Sherrod Brown, called for an investigation into the issues raised by secretly taped conversations between officials at Goldman Sachs (GS) and supervisors at the New York Federal Reserve, reported Reuters. Other large U.S. banks include Bank of America (BAC), Citigroup (C), JPMorgan (JPM), Morgan Stanley (MS), U.S. Bancorp (USB) and Wells Fargo (WFC). Reference Link
07:29 EDTCCitigroup allowed to make Argentina bond payment, NY Post reports
A U.S. federal judge agreed to stay his prior order that would have prevented Citibank from making its September 30 payments on Argentinaís bonds, which the bank said would break the country's law and could lead it to lose its license there, reported the New York Post. However, the judge did not lift his injunction against Citi related to the disputed payments, the report noted. Reference Link
07:15 EDTWFCNational Association of Business Economics to hold annual meeting
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06:23 EDTC, JPMCitigroup, JPMorgan meet with FCA to settle forex rigging probe, WSJ reports
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September 26, 2014
18:09 EDTGSGoldman Sachs to ban investment bankers from trading stocks, Bloomberg reports
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16:01 EDTBACOptions Update; September 26, 2014
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14:29 EDTMSAlibaba awards IPO banks $50M in incentive fees, Bloomberg says
According to people with knowledge of the matter, Alibaba (BABA) gave Credit Suisse (CS) and Morgan Stanley (MS) approximately half of the incentive fees that were awarded to the six banks responsible for overseeing its IPO, Bloomberg reports. Reference Link
09:37 EDTCActive equity options trading on open
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September 25, 2014
16:00 EDTBACOptions Update; September 25, 2014
iPath S&P 500 VIX Short-Term Futures up 2.09 to 30.38. Option volume leaders: AAPL TSLA NFLX BAC TWTR AMZN BP PBR GILD DOW according to Track Data.
15:10 EDTUSB, WFC, MS, GS, JPM, BAC, CHolder resignation as AG positive for banks, says Rafferty Capital
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14:32 EDTGSGoldman Sachs close to acquiring Neovia Logistics for $1B, Reuters says
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13:30 EDTUSBU.S. Bancorp fined $9M, to pay $47.9M in restitution for identity-theft products
The Office of the Comptroller of the Currency and the Consumer Financial Protection Bureau, or CFPB, has fined U.S. Bancorp $9M and has ordered the company to pay $47.9M in restitution to customers for selling identity-theft products with out providing the full benefits of the products. In a statement, the CFPB said, "The billing of Identity Protection Product fees and acceptance of payments of such fees while failing to provide credit monitoring and credit report retrieval services has resulted in substantial injury to approximately 420,115 consumers in the amount estimated to be $47.9M for identity protection products. This injury was not reasonably avoidable by consumers and is not outweighed by any countervailing benefit to the consumers or to competition. Within 10 days of the effective date, the Bank must reserve or deposit into a segregated deposit account $47.9M, which represents the approximate amount of customer injury caused by the practices described in Section V, for the purpose of providing redress to affected customers as required by this Section." Reference Link
08:07 EDTUSBU.S. Bancorp extends freight-payment trade finance capability to Europe
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08:00 EDTBACBuy American Express and Bank of America into earnings, says Morgan Stanley
Morgan Stanley says to buy American Express (AXP) and Bank of America (BAC) going into Q3 earnings. The firm expects American Express to report accelerated credit card spending growth and views valuation as compelling and views Bank of America is a play on rising rates and improving expenses.
07:27 EDTMSMorgan sale of oil unit to Rosneft may break down over sanctions, Reuters says
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September 24, 2014
15:04 EDTBAC, GS, C, MS, JPM, WFCGoldman, other banks near deal to buy Bloomberg messaging alternative, WSJ says
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09:59 EDTMSOn The Fly: Analyst Downgrade Summary
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