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Stock Market & Financial Investment News

News Breaks
January 16, 2013
07:35 EDTGSGoldman Sachs reports Q4 EPS $5.60, consensus $3.78
Reports Q4 revenue $9.24B consensus $7.91B.
News For GS From The Last 14 Days
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May 21, 2013
17:03 EDTGSMerck announces $5B share repurchase
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09:33 EDTGSBloomberg LINK to host a summit
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07:13 EDTGSU.S. bank mergers less likely this year, Bloomberg reports
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07:12 EDTGSCredit Suisse now second largest Asia prime broker, Reuters reports
The Asian prime brokerage unit of Credit Suisse (CS) replaced Morgan Stanley (MS) as the second largest firm servicing the region's $148B hedge funds industry, according to a survey by AsiaHedge. Goldman Sachs (GS) remains Asia's top prime broker with 179 clients and total assets under management of $24.6B, reports Reuters.Reference Link
06:10 EDTGSOn the Fly: Periodicals Wrap-Up
WALL STREET JOURNAL: JPMorgan Chase (JPM) plans to shake-up of its board even if every director wins re-election at today’s shareholder meeting and James Dimon keeps his dual job as chairman and CEO, the Wall Street Journal reports...Mutual-fund firms are joining activist investors in getting more aggressive over demands for change in how board members are paid at U.S. companies. Activist investors have been experimenting more frequently with incentive pay packages for the board members they nominate in proxy fights, the Wall Street Journal reports...REUTERS: Specialty chemicals producer Rockwood Holdings’s (ROC) pigments businesses have attracted offers from buyout firms including Blackstone Group (BX) and Advent International, sources say, Reuters reports...The Asian prime brokerage unit of Credit Suisse (CS) replaced Morgan Stanley (MS) as the second largest firm servicing the region's $148B hedge funds industry, according to a survey by AsiaHedge. Goldman Sachs (GS) remains Asia's top prime broker with 179 clients and total assets under management of $24.6B, Reuters reports...BLOOMBERG: Bank managers in the U.S. are less likely to engage in mergers and acquisitions this year as regulators heighten scrutiny on potential deals and sellers wait for higher valuations, according to a KPMG survey, Bloomberg reports...PIMCO’s Bill Gross says the bull market for bonds may have ended last month. But investors are staying put. Four years into the biggest rally in U.S. stocks since 2000, bond mutual funds are attracting more money than their equity counterparts, Bloomberg reports.
05:46 EDTGSThomson Reuters, others to challenge Bloomberg messaging, WSJ reports
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May 20, 2013
06:41 EDTGSGoldman Sachs seeking to sell stake in Chinese bank, Reuters reports
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May 16, 2013
09:05 EDTGSSolarCity, Goldman Sachs collaborate on solar lease financing platform
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06:41 EDTGSBig banks to benefit from U.S. concession on derivatives, NY Times says
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06:19 EDTGSU.K. judge rules Goldman Sachs tax deal didn’t break law, Bloomberg reports
Goldman Sachs Group's deal with the U.K. government that may have saved the investment bank about $30.6M on its taxes didn’t break any laws and was properly conducted, a judge ruled, reports Bloomberg. Reference Link
May 15, 2013
13:17 EDTGSGoldman Sachs COO says will address Fed's CCAR concerns
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13:15 EDTGSGoldman Sachs COO says wouldn't cut equities on first move by Fed
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13:15 EDTGSGoldman Sachs volatility near low end of historic range
Goldman Sachs June call option implied volatility is at 21, July and October is at 22; compared to its 26-week average of 25 according to Track Data, suggesting decreasing price movement.
06:34 EDTGSJPMorgan CEO has obtained advice from Goldman counterpart, NY Times says
JPMorgan (JPM) CEO Jamie Dimon has spoken with his counterpart at Goldman Sachs (GS), Lloyd Blankfein, a number of times in recent months about the challenges that Dimon is facing, according to The New York Times, which cited unnamed sources. Reference Link J
May 14, 2013
09:01 EDTGSNVIDIA in $750M accelerated share repurchase pact with Goldman Sachs
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08:33 EDTGSCFTC investigates swap contracts, FT reports
The Commodity Futures Trading Commission issued a “special call” asking Wall Street banks and other traders to provide documents that would prove recent derivatives transactions known as “exchanges of futures for swaps” were legal. Lawyers at the CFTC enforcement division are also scrutinizing the trades for possible violations. The probe is into the legitimacy of more than 1M energy and metals transactions by the biggest traders in commodities markets over the past two years.Reference Link
07:59 EDTGSGlass Lewis: Investors should oppose Goldman Sachs pay plan, Bloomberg reports
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06:01 EDTGSGoldman looking to lessen reliance on Bloomberg, NY Post reports
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May 13, 2013
15:04 EDTGSFed says large banks must submit midyear stress tests on July 5
Eighteen large U.S. bank holding companies are required to submit the results of their company-run, midyear stress tests to the Federal Reserve on July 5, the Federal Reserve said. The Dodd-Frank Wall Street Reform and Consumer Protection Act required that large bank holding companies and non-bank financial institutions that are designated for Federal Reserve supervision by the Financial Stability Oversight Council conduct two stress tests each year. In the midyear test, which is being conducted for the first time in 2013, each firm develops its own baseline, adverse, and severely adverse scenarios to best reflect its individual operations and risks. Each firm in the midyear test is required to release the results produced under its severely adverse scenario, helping promote market discipline and understanding of the financial conditions and risks of individual firms, between September 15 and September 30, the Fed added.
May 9, 2013
08:09 EDTGSJPMorgan, Bank of America had perfect trading records in Q1, Bloomberg reports
JPMorgan Chase (JPM) and Bank of America (BAC) had perfect trading records in the first quarter, making money every day of the period as Morgan Stanley (MS) posted losses in eight sessions and Goldman Sachs (GS) in two, reports Bloomberg. One daily gain at JPMorgan was over $200M as the bank recovered from last year’s London Whale derivatives loss, the company said in a regulatory filing. Reference Link
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