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Stock Market & Financial Investment News

News Breaks
March 10, 2014
04:55 EDTGSK, GSK, AEP, AEP, MS, MS, MIC, MIC, TROW, TROW, BAC, BACEdison Electric Institute to hold a conference
International Utility Conference is being held in London, England on March 10-11.
News For GSK;AEP;MS;MIC;TROW;BAC From The Last 14 Days
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April 16, 2015
07:55 EDTBACBank of America Q1 results 'simply dreadful,' says Oppenheimer
Oppenheimer believes that Bank of America $1B in "retirement-eligible incentive costs" and $0.5B of "market-related adjustments" to net interest income are not one-time items. The firm says that the bank's revenue fell significantly, while its core operating expenses have not followed suit. However, the firm still finds the stock's valuation attractive and recommends buying the shares.
April 15, 2015
16:01 EDTBACOptions Update; April 15, 2015
iPath S&P 500 VIX Short-Term Futures down 49c to 21.90. Option volume leaders: AAPL NFLX C PBR KMI RIG MCP TWTR GILD BAC according to Track Data.
11:53 EDTGSKGlaxoSmithKline initiated with a Sell at Societe Generale
10:13 EDTBACBank of America reports March default rate 2.94% vs. 2.98% last month
Reports March delinquency rate 1.80% vs. 1.86% last month.
09:35 EDTBACActive equity options trading on open
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08:25 EDTBACBofA expects to remain opportunistic to meet future funding needs
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08:22 EDTBACBank of America sees added costs of about $100M in 2015 due to CCAR resubmission
As previously reported, the Fed issued a conditional non-objection to Bank of America’s capital plan upon which the firm is required to resubmit its plan and address certain weaknesses identified in the capital planning process, with resubmission of the capital plan to occur by September 30. The bank said in slides for its Q1 earnings call that Terry Laughlin has been assigned to lead the CCAR resubmission as well as a longer-term comprehensive evaluation and enhancement of the overall process. BofA noted it has engaged independent third parties to review work streams addressing identified areas to strengthen and implement “best-in-class” processes and controls and that it expects additional associated costs to be approximately $100M in 2015.
07:08 EDTBACBank of America reports Book Value per Share up 4% to $21.66
Estimated common equity Tier 1 ratio under Basel 3, Standardized Approach, Fully Phased-in, was 10.3%; Advanced Approaches 10.1%. Reports estimated Supplementary Leverage Ratios above 2018 required minimums, with bank holding company at 6.3% and primary bank at 7.1%. Reports global excess liquidity sources of $478B, up $51Bf rom 1Q14 and reports time-to-required funding at 37 months. Reports tangible book value per share increased 7% from year ago to $14.79 per share and book value per share increased 4% from year ago to $21.66 per share.
07:05 EDTBACBank of America reports Q1 provision for credit losses $765M
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07:04 EDTBACBank of America CEO says seeing 'encouraging' signs in consumer, client activity
“Continuing the trend from last quarter, we saw core loan and deposit growth, higher mortgage originations, and increased wealth management client balances," said CEO Brian Moynihan. “We retained a top position in investment banking as our team generated the highest advisory fees since the Merrill Lynch merger. We see continued encouraging signs in customer and client activity, with consumer spending increasing and utilization of credit by our commercial customers rising. This should bode well for the near-term economic outlook. At a time of continued low interest rates, we had good expense control as we focus on responsible growth with a balanced platform to create long-term value for customers and shareholders.” "We continued to strengthen an already strong and liquid balance sheet this quarter," said CFO Bruce Thompson. "We improved our liquidity, accreted capital and tightly managed expenses in a challenging interest rate environment. Meanwhile, credit quality remained strong, reflecting both the economic environment and our risk underwriting."
07:02 EDTBACBank of America reports Q1 EPS with items 27c, consensus 29c
Reports Q1 revenue $21.2B, consensus $21.5B. Results Include $1.0B, or 6c per share, in annual retirement-eligible incentive costs and $0.5B, or 3c per share, in charges to revenue for market-related net interest income adjustments.
06:11 EDTMS, BACRegulators seek to end 'too big to fail' firms, WSJ reports
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April 14, 2015
19:56 EDTMSMorgan Stanley nearing $1B deal for oil trading and storage unit, WSJ says
Castleton Commodities International has become the leading bidder for Morgan Stanley's oil-trading and storage unit, offering more than $1B for the business, reports the Wall Street Journal, citing people familiar with the matter. Any potential deal remains weeks away, said the sources.Reference Link
16:11 EDTAEPAEP Ohio extends contract with Lime Energy
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15:34 EDTBACNotable companies reporting before tomorrow's open
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15:34 EDTBACBank of America April 16 straddle priced for 3.4% movement into Q1
14:38 EDTBACEarnings Watch: Bank of America to report after mixed reviews from Fed
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14:36 EDTBACBank of America technical comments ahead of earnings
The stock is trading up to resistance at the 50-day moving average, last at $15.95. Since November 2013, the stock has been trading in a range bound largely by $15 at the low and $18 at the high. A break of either end of the range would help guide where shares might trade thereafter. Failing news that is sufficiently bullish or bearish, we could expect the stock to trade in the same range until another catalyst emerges. On better news, resistance above current levels would be at $16.62, $17.22, and then at $18. If the news is more bearish than expected, a breakdown below $15 might be probable. In that event next support levels below $15 as downside objectives would be at $14.37 which is the 52-week low and then at $13.49 and $12.80.
08:35 EDTMSEtsy offering vendors chance to participate in IPO, WSJ reports
Etsy (ETSY), through a program being overseen by Morgan Stanley (MS), is giving its vendors and other small investors the opportunity to buy as much as $2,500 in stock just before its public float, reported The Wall Street Journal. The bank's customary account fees are being waived for the program, via which participants can offer to buy between $100 and $2,500 worth of Etsy stock, people familiar with the matter told the Journal. Reference Link
07:35 EDTBACBank of America April volatility elevated into Q1 and outlook
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