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Stock Market & Financial Investment News

News Breaks
November 29, 2012
06:10 EDTGS, JPM, AAMRQ, QCOM, INTC, DELL, SHCAY, C, WFC, BAC, MS, USB, VLKAYOn the Fly: Periodicals Wrap-Up
WALL STREET JOURNAL: Fed officials are close to a decision to continue its stimulus efforts into 2013 as they face critical decisions at their next policy meeting Dec. 11-12. The most pressing is whether to move forward with bond-buying programs in which the Fed is accumulating large stockpiles of long-term mortgage-backed securities and Treasury bonds, the Wall Street Journal reports...Sharp (SHCAY) is in talks with Dell (DELL), Intel (INTC) and Qualcomm (QCOM) to bolster its balance sheet and has offered a stake to both in return for a stable supply of breakthrough display technology, sources say. Sharp wants an investment of about $240M from both Dell and Intel, and a smaller investment from Qualcomm, the Wall Street Journal reports...REUTERS: A group of some of bankrupt American Airlines' (AAMRQ) key bondholders said it will not support a standalone restructuring unless a new board is brought in. The 12-member bondholder group includes JPMorgan Chase (JPM), Pentwater Capital Management and York Capital Management, Reuters reports...Volkswagen (VLKAY) and China’s FAW Group agreed to extend their partnership beyond its expiration date of 2016, as the German automaker turned aside reports that FAW infringed on Volkswagen's intellectual property rights, Reuters reports...BLOOMBERG: Builders in the U.S. sold fewer new homes than forecast in October and purchases were revised down for the prior month. Sales slid 0.3% to a 368,000 annual pace following a 369,000 rate in September that was 20,000 lower than initially reported, figures from the Commerce Department showed, Bloomberg reports...Copper supply shortages will continue into the first half of 2013 as an accelerating Chinese economy more than doubles the pace of growth in global consumption even as mines extract a record amount of metal, Bloomberg reports.
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July 11, 2014
10:25 EDTWFCWells Fargo targeting a net payout ratio of 55%-75%
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10:23 EDTWFCWells Fargo says seeing many indicators of economic growth accelerating
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10:00 EDTQCOMOn The Fly: Analyst Downgrade Summary
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09:37 EDTC, WFCActive equity options trading on open
Active equity options trading on open according to Track Data: AAPL WFC C SUNE FB AMZN TSLA TWTR
09:09 EDTWFC, QCOMOn The Fly: Pre-market Movers
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08:54 EDTWFCWells Fargo nears tests of support following earnings, levels to watch
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08:09 EDTWFCWells Fargo reports Q2 Community Banking net income $3.4B
Community Banking reported net income of $3.4B, down $413M, or 11%, from Q1. Revenue of $12.6B rose slightly from the prior quarter. Higher net interest income, mortgage banking revenue and card fees, were offset by lower equity investment gains. Wholesale Banking reported net income of $2.0B, up $210M, or 12%, from Q1. Revenue of $5.9B increased $366M, or 7%, from prior quarter. Wealth, Brokerage and Retirement reported net income of $544M, up $69M, or 15%, from Q1. Revenue of $3.6B increased $82M, or 2%, from the prior quarter as increased asset-based fees and higher gains on deferred compensation plan investments, offset in compensation expense, were partially offset by lower brokerage transaction revenue.
08:06 EDTWFCWells Fargo reports Q2 mortgage originations of $47B
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08:05 EDTWFCWells Fargo says credit performance continued to improve in Q2
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08:04 EDTWFCWells Fargo reports Q2 net charge offs $717M
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08:04 EDTWFCWells Fargo reports loans $828.9B at June 30, up $2.5B from March 31
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08:02 EDTWFCWells Fargo CEO says 'optimistic' about bank's future
“Our strong results in the second quarter reflected the benefit of our diversified business model and our long-term focus on meeting the financial needs of our customers,” said Chairman and CEO John Stumpf. “By continuing to serve customers we grew loans, increased deposits and deepened our relationships. Our results also reflected strong credit quality driven by an improved economy, especially the housing market, and our continued risk discipline. We are committed to both maintaining strong capital levels and returning more capital to our shareholders. In the second quarter we increased our common stock dividend 17 percent and repurchased 39.4 million shares. We remain dedicated to building long-term shareholder value, and I am optimistic about the future as we continue to focus on meeting the needs of our consumer, small business and commercial customers.” CFO John Shrewsberry said, “The primary drivers of Wells Fargo’s business remained strong in the second quarter, with broad-based loan growth, increased deposit balances, and improved credit quality. Revenue increased linked quarter as the Company grew both net interest income and noninterest income, a reflection of Wells Fargo’s diversified business model. These solid fundamental business results led to an increase in pre-tax income linked quarter. Net income was down as the Company’s effective tax rate was lower in the first quarter due to a $423 million discrete tax benefit.”
08:01 EDTWFCWells Fargo reports Q2 EPS $1.01, consensus $1.01
Reports Q2revenue $21.07B, consensus $20.82B.
07:36 EDTQCOMQualcomm downgraded to Buy from Conviction Buy at Goldman
Goldman removed Qualcomm from the Conviction Buy List as it does not expect material near-term upside to Street estimates sees some risk of downside. The firm trimmed estimates for both the June and September quarters due to weaker handset demand but maintains its Buy rating and $95 price target based on relative valuation and growth profile.
07:35 EDTQCOMQualcomm questioned again in Chinese anti-trust probe, Xinhua says
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07:34 EDTMSMorgan Stanley July volatility elevated into Q2 and outlook
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07:30 EDTWFCGlobal Interdependence Center to hold a summit
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07:20 EDTJPM, MS, GS, BAC, C, USB, WFCBig banks seen losing reserve release cushion, Reuters says
Releasing loan-loss reserves has helped U.S. big banks weather a period of weak loan demand and lower fee income, but Q2 results from the banks may see less benefit from the practice as loss rates and reserves near their lower limits, said Reuters. Publicly traded companies in the space include Bank of America (BAC), Citigroup (C), Goldman Sachs (GS), JPMorgan (JPM), Morgan Stanley (MS), U.S. Bancorp (USB) and Wells Fargo (WFC). Reference Link
06:37 EDTVLKAYUnion creates branch for employees at VW facility, Reuters says
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06:06 EDTINTCIntel to unveil 14nm processors, 10nm wafers at IDF in September, DigiTimes says
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