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Stock Market & Financial Investment News

News For JPM;USB;BAC;MS;GS;WFC;C From The Last 14 Days
Check below for free stories on JPM;USB;BAC;MS;GS;WFC;C the last two weeks.
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August 20, 2014
17:12 EDTBACOn The Fly: Closing Wrap
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14:35 EDTBACBofA reaches $17B settlement over mortgage backed securities sales, AP says
Bank of America along with federal and state authorities agreed upon a $17B settlement for the bank in connection with the sale of mortgage-backed securities in the run-up to the 2008 financial crisis, says AP. Reference Link
14:20 EDTBACBofA reaches $17B settlement over mortgage backed securities sales, AP says
11:37 EDTGSGoldman ups U.S. junior employees FY15 wages by 20%, Bloomberg says
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10:32 EDTGSGoldman to up U.S. junior employees FY15 salaries by 20%, Bloomberg says
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08:38 EDTBACRevolution Lighting enters loan, security agreement with BofA
Revolution Lighting (RVLT) announced that it has entered into a three year loan and security agreement with Bank of America (BAC). The agreement allows Revolution Lighting to borrow up to $25M on a revolving basis. Borrowings under the agreement are determined on specified percentages of eligible receivables and inventory, and bear interest either on the base rate plus specified margins or at LIBOR plus specified margins, at the election of Revolution Lighting. The loan provides Revolution Lighting with favorable interest rates with an initial interest rate of 3%. The agreement contains customary covenants and restrictions typical of these agreements.
06:17 EDTCCitigroup looks to sell Japanese retail banking unit, Reuters says
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06:02 EDTWFCWells Fargo wins approval for $62.5M settlement, Charlotte Observer says
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August 19, 2014
13:42 EDTWFCWells Fargo looks to bulk up asset-management business, WSJ says
Wells Fargo is looking to increase the size of its asset-management business to over $1T over the next decade by making acquisitions of smaller asset managers and more aggressive sales to larger investors, says the Wall Street Journal. Reference Link
13:08 EDTCCitigroup tells appeals court Agentina banking license at risk, Reuters reports
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12:14 EDTCCitigroup considers selling Japan retail-banking unit, WSJ reports
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06:34 EDTGSGoldman abandons effort to toss out $1B Gaddafi suit, Telegraph says
Goldman Sachs (GS) abandoned its effort to toss out a London court suit from the Libyan Investment Authority who alleged that the bank lost over $1B worth of funds during the final years of Muammar Gaddafi's reign as dictator, according to the Telegraph, citing comments from the LIA. The LIA sued both Goldman and Societe Generale (SCGLY) over claims that the banks' London divisions took-in exorbitant fees while losing money in derivative trades. Reference Link
06:20 EDTBACBofA COO transfers, senior manager assumes role, Bloomberg says
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August 18, 2014
16:00 EDTCOptions Update; August 18, 2014
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10:32 EDTGSProcter & Gamble likely to divest Duracell, Braun, Reuters reports
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09:35 EDTC, WFCActive equity options trading on open
Active equity options trading on open according to Track Data: AAPL AMZN DG TSLA GILD FB ABX WFC C
09:20 EDTGSDeutsche Bank appoints Shannon Americas Chief Information Officer
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06:47 EDTC, MS, BACU.S. banks consider Ireland fitting spot for EU divisions, FT says
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August 17, 2014
16:34 EDTGSMick Davis in talks to buy Colombia's CNR from Goldman, Sunday Times says
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August 15, 2014
16:00 EDTCOptions Update; August 15, 2014
iPath S&P 500 VIX Short-Term Futures up 1c to 28.88. Option volume leaders: AAPL GILD NFLX PBR TWTR TSLA MNKD AMZN C according to Track Data.
14:56 EDTCCitigroup reports July credit loss 1.98% vs. 2.33% last month
Reports July delinquencies 1.51% vs. 1.43% last month.
10:07 EDTBACBank of America reports July default rate 3.01% vs. 3.24% last month
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07:35 EDTJPMJPMorgan reports July net credit losses 2.59% vs. 2.83% last month
Reports July delinquency rate 1.32% vs. 1.33% last month.
06:48 EDTMSMorgan Stanley settles overtime pay suit with $4.2M, Reuters says
Morgan Stanley and sales assistants in the firm's wealth management division system who alleged that they were owed overtime compensation finally agreed to settle the matter with $4.2M, according to Reuters, citing comments from a company spokeswoman in an e-mail. The spokeswoman said, “Morgan Stanley maintains robust policies to ensure that non-exempt employees are paid for all time worked. However, with this settlement we will put an end to protracted and expensive litigation that is a distraction from our business.” Reference Link
August 14, 2014
17:27 EDTC, JPMAppaloosa gives quarterly update on stakes
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08:28 EDTBACBofA, DOJ still in talks over $17B settlement, NY Post says
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06:40 EDTGS, CCarlyle hires firms for Axalta IPO, Reuters says
Carlyle Group (CG) gave Citigroup (C) and Goldman Sachs (GS) leading positions in the possible IPO of Axalta Coating Systems just eighteen months after it acquired the firm from DuPont (DD) for $4.9B, according to Reuters, citing people familiar with the matter. One of the sources said that the IPO could bring in nearly $1B. Reference Link
06:39 EDTGSGoldman hired by Emerson for sale of power division, Reuters says
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06:35 EDTGSGoldman unit last bidder for Tokyo tower worth $1.6B, Reuters says
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August 13, 2014
07:22 EDTGSGoldman pushes Cisco head to step-up software, Bloomberg says
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06:19 EDTJPM, GS, MSBanks pressing Federal Reserve to delay rule on investments, WSJ says
Banks are pushing U.S. policy makers for a delay of a rule that requires them to sell investments in private-equity and venture-capital funds, reports the Wall Street Journal. According to people familiar with the effort, bank officials, trade groups and lawmakers are lobbying the Federal Reserve to delay the rule for up to seven years that limits banks' investments. Reference Link
August 12, 2014
09:35 EDTBAC, CActive equity options trading on open
Active equity options trading on open according to Track Data: AAPL GOOG C TSL EXAS BAC DNDN JNJ TSLA
07:48 EDTWFC, MS, JPM, GS, USB, BAC, CBanks posted second-highest profit in 23 years in second quarter, WSJ says
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07:12 EDTWFCWells Fargo sells nearly $1.3B in troubled mortgage debt, Bloomberg says
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August 11, 2014
17:28 EDTGSGoldman Sachs reports 11.5% passive stake in 58.com
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16:27 EDTJPMJPMorgan to sell 50% of portfolio companies held by One Equity Partners
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14:58 EDTJPMJPMorgan to sell about half of One Equity Partners pe unit, DJ says
JPMorgan plans to sell about $2B in portfolio companies of One Equity and retain ownership of roughly half of portfolio companies, said Dow Jones, citing sources.
09:36 EDTCActive equity options trading on open
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06:58 EDTCUBS to hold a conference
UBS Financials 1:1 Conference to be held in Chicago on August 11.
06:43 EDTCCitigroup, Mercuria Energy battle in court over metals payments, WSJ says
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August 8, 2014
16:00 EDTCOptions Update; August 8, 2014
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12:38 EDTJPMSEC probing JPMorgan over potential conflicts of interest, WSJ says
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09:37 EDTBACActive equity options trading on open
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07:23 EDTJPM, GSLevin probe of Goldman, JPMorgan commodity trading nears end, Reuters says
Senator Carl Levin's investigators have met with representatives from Goldman Sachs (GS) and JPMorgan (JPM) in recent weeks as his office wraps up its probe of the bank's commodity trading businesses, which could potentially reveal abuses in energy and metals markets, according to Reuters, citing sources familiar with the matter. Executives from the banks may appear at a hearing as early as September, the report added. Reference Link
07:18 EDTC, JPM, GS, WFC, MS, USB, BACRegulators direct banks to steer mortgage aid to hard-hit areas, FT says
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06:30 EDTJPM, CCitigroup, Accenture employ tech workers in Argentina, Bloomberg says
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August 7, 2014
16:00 EDTCOptions Update; August 7, 2014
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08:23 EDTC, JPM, BAC, WFCL.A. suit against JPMorgan over mortgage lending dismissed, Reuters reports
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06:39 EDTGSGoldman lowers legal loss over reserves estimate to $3.2B from $3.7B
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August 6, 2014
17:35 EDTBACBank of America near $16B-$17B settlement with DoJ over mortgages, WSJ says
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16:01 EDTCOptions Update; August 7, 2014
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15:59 EDTBACBank of America near $16B-$17B settlement with DOJ over mortgages, DJ says
12:49 EDTWFCWells Fargo sees potential legal losses up to $1.2B above reserves
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12:12 EDTBACOn The Fly: Midday Wrap
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09:36 EDTCActive equity options trading on open
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09:15 EDTBACBank of America increases quarterly dividend to 5c per share
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08:20 EDTGS, BAC, MS, C, JPMFed, FDIC tell big banks to revise 'living will' plans
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08:19 EDTJPMAshland enters into 10b5-1 plans to repurchase $250M of common stock
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07:58 EDTBACBank of America July volatility flat on tight three-month price range
Bank of America August call option implied volatility is at 24, September is at 26 and January is at 25; compared to its 26-week average of 24 according to Track Data, suggesting non-directional near term price movement.
07:55 EDTJPMJP Morgan August volatility increases as shares pull back
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07:53 EDTCCitigroup volatility at two-year average
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07:43 EDTWFCWells Fargo relaxes 'jumbo' mortgage guidelines, Reuters says
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06:58 EDTUSBU.S. Bancorp August volatility elevated
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06:40 EDTWFCWells Fargo volatility at two-year average
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06:30 EDTGSDeutsche Bank, Goldman near agreement for NBG unit, Bloomberg says
The private-equity arms of Deutsche Bank (DB) and Goldman Sachs (GS) are close to finalizing a deal to purchase the buyout division of National Bank of Greece (NBG) for close to $506M, according to Bloomberg, citing two people with knowledge of the matter. Reference Link
06:27 EDTMSMorgan Stanley says continuing to respond to subpoenas, requests for information
Morgan Stanley said in a filing that it is continuing to respond to subpoenas and requests for information from certain federal and state regulatory and governmental entities, including among others various members of the RMBS Working Group of the Financial Fraud Enforcement Task Force, concerning the origination, financing, purchase, securitization and servicing of subprime and non-subprime residential mortgages and related matters such as residential mortgages backed securities, collateralized debt obligations, structured investment vehicles and credit default swaps backed by or referencing mortgage pass through certificates. These matters include, but are not limited to, investigations related to the company’s due diligence on loans that it purchased for securitization, the company’s communications with ratings agencies, the company’s disclosures to investors, and the Company’s handling of servicing and foreclosure related issues. On May 8, the California Attorney General’s Office, which is one of the members of the RMBS Working Group, indicated that it has made certain preliminary conclusions that the Company made knowing and material misrepresentations regarding RMBS and that it knowingly caused material misrepresentations to be made regarding the Cheyne SIV, which issued securities marketed to the California Public Employees Retirement System. The CAAG has further indicated that it believes the company’s conduct violated California law and that it may seek treble damages, penalties and injunctive relief. The company does not agree with these conclusions and has presented defenses to them to the CAAG. On July 23, the U.S. SEC approved the company’s Offer of Settlement to resolve the SEC’s investigation of certain subprime RMBS transactions sponsored and underwritten by the company in 2007. Pursuant to the settlement, the company was charged with violating Sections 17(a)(2) and 17(a)(3) of the Securities Act, agreed to pay disgorgement and penalties in an amount of $275M and neither admitted nor denied the SEC’s findings.
06:25 EDTMSMorgan Stanley says added $53M to legal costs in Q2, cutting EPS by 2c
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06:23 EDTMS, BAC, WFCSecurities Industry & Financial Markets Association to hold a seminar
Compliance & Legal Society Regional Seminar to be held in San Francisco on August 6.
06:19 EDTWFC, MSCFA Society of Minnesota to hold a conference
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