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Stock Market & Financial Investment News

News Breaks
January 17, 2014
06:48 EDTUSB, MS, BAC, WFC, C, JPM, GSBanks aren't disclosing mortgage litigation reserve totals, NY Times says
Wall Street banks aren't disclosing the amount of money in their mortgage litigation reserves, even though the size of their reserves is an important factor in determining their financial strength, according to The New York Times. But experts don't think the banks' litigation reserves are "catastrophically low," and analysts have been able to estimate roughly how much the banks have set aside for litigation, the newspaper stated. Reference Link
News For GS;WFC;MS;JPM;BAC;USB;C From The Last 14 Days
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January 14, 2015
08:25 EDTCTwo Dubai lenders among bidders for Citi consumer unit in Egypt, Bloomberg says
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08:14 EDTWFCWells Fargo reports Q4 home lending originations of $44B
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08:11 EDTWFCWells Fargo released $250M from allowance for credit losses in Q4
08:10 EDTWFCWells Fargo CFO says credit quality continued to improve in Q4
Wells Fargo CFO John Shrewsberry said, “Our performance in the fourth quarter was a great example of the benefit of our diversified business model and reflected a continuation of the solid results we generated all year. Compared with the prior quarter, we increased deposits and grew commercial and consumer loans while maintaining our risk and pricing discipline. Revenue increased as net interest income benefited from loan growth and the prudent deployment of our liquidity. Fee income remained strong and diversified. Credit quality continued to improve. We also maintained strong capital and liquidity, and returned more capital to shareholders in the quarter."
08:09 EDTWFCWells Fargo reports Q4 net interest margin 3.04%
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08:03 EDTWFCWells Fargo reports Q4 net charge-offs $735M, provision for credit losses $485M
Reports Common Equity Tier 1 ratio under Basel III of 10.44%. Reports Q4 ROE 12.841%, ROA 1.36%.
08:01 EDTWFCWells Fargo reports Q4 EPS $1.02, consensus $1.02
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07:51 EDTJPMJPMorgan says Q4 EPS negatively impacted 26c by legal expense
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07:34 EDTBACNew rules prompt BofA to sever ties with 150 hedge funds, Bloomberg reports
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07:31 EDTGSGoldman Sachs volatility increases into Q4 and outlook
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07:20 EDTJPMJPMorgan reports Q4 results include $990M after-tax legal expense
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07:10 EDTJPMJPMorgan Q4-end book value per share $57.07
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07:06 EDTJPMJPMorgan reports Q4 core loans up 8% compared with the prior year
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07:05 EDTJPMJPMorgan reports Q4 mortgage originations improved sequentially
CEO Jamie Dimon said: “Our businesses continue to demonstrate strong momentum and expense discipline. Consumer & Community Banking delivered impressive growth in deposits and investment assets in the fourth quarter and throughout 2014, while outperforming its expense reduction target for the year. Mortgage originations improved sequentially in the fourth quarter, despite a seasonally slow quarter. Our Card business delivered double-digit sales volume growth, outpacing the industry for the 27th consecutive quarter. Auto had a good quarter and the pipeline remains strong. The Corporate & Investment Bank saw strong performance in fees, maintaining its #1 position in Global IB fees in 2014 with particular strength in Europe, although Markets remained somewhat challenged. Commercial Banking grew period-end loans 8% versus the prior year and Commercial Banking clients generated record investment banking revenues for the quarter and the year. Lastly, Asset Management had over $80B of net long-term inflows for the second consecutive year and overall AUM grew 9% this quarter compared to the prior year.”
07:03 EDTJPMJPMorgan reports Q4 provision for credit losses $840M
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07:00 EDTJPMJPMorgan reports Q4 EPS $1.19, consensus $1.31
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06:57 EDTBACBarclays appoints Jonathan Moulds as Group COO
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06:45 EDTJPMJPMorgan downgraded to Underweight from Neutral at HSBC
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06:36 EDTGSGoldman Sachs Q4 profit reduced by loan write-down, Reuters says
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06:04 EDTCCiti appoints CD Davies head of global Mortgage business
Citi yesterday announced that CD Davies has been appointed Head of Citi’s Mortgage business globally. Davies joined Citi in March 2014. He will continue to report to Jane Fraser, CEO of CitiMortgage and U.S. Consumer and Commercial Banking. Davies was previously President and CEO of Wachovia Mortgage Corporation.
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