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Stock Market & Financial Investment News

News Breaks
April 9, 2014
08:48 EDTHBAN, BACHuntington Bancshares to acquire 11 branches in central, east Michigan
Huntington Bancshares (HBAN) announced the signing of a definitive agreement under which Huntington National Bank will purchase 11 branches in central and east Michigan from Bank of America (BAC). Huntington’s acquisition will increase the bank’s Michigan branch total to 173 statewide including 80 locations in the bank’s east Michigan region. Huntington will purchase approximately $450M in deposits, for a deposit premium of 3.5% based on deposit balances near the time the transaction closes. The transaction to acquire branches and deposits excludes loans and is expected to be completed in 2H14, subject to the satisfaction of customary closing conditions, including regulatory approvals.
News For HBAN;BAC From The Last 14 Days
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July 31, 2014
06:28 EDTHBANHuntington Bancshares upgraded to Outperform from Sector Perform at RBC Capital
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July 30, 2014
15:17 EDTBACBank of America raises offer to DOJ, nears mortgage settlement, Bloomberg says
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13:53 EDTBACBank of America, U.S. near mortgage deal after bank raises offer, Bloomberg says
13:44 EDTBACBank of America division ordered to pay $1.3B over mortgages, Bloomberg reports
Bank of America's (BAC) Countrywide division has been ordered to pay $1.3B in penalties for defective mortgage loans it sold to Fannie Mae (FNMA) and Freddie Mac (FMCC) during the 2008 financial crisis, Bloomberg reported. The fine is just over half the amount the government had requested, Bloomberg added. Reference Link
13:26 EDTBACBofA Countrywide unit ordered by judge to pay $1.3B, Bloomberg reports
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July 29, 2014
06:06 EDTBACBank of America, DOJ talks hit snag, WSJ reports
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July 24, 2014
11:12 EDTBACBank of America to pay $16.6M to resolve U.S. sanctions violations, Reuters says
The Treasury Department said Bank of America has agreed to say $16.6M to resolve allegations it processed transactions for drug traffickers subject to U.S. sanctions, reports Reuters. The bank processed around $91,000 in transactions for six designated narcotics traffickers between 2005 and 2009, and failed to file timely reports on accounts owned by four others. Reference Link
July 22, 2014
10:00 EDTHBANOn The Fly: Analyst Upgrade Summary
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07:17 EDTBACNational Association for Business Economics to hold a seminar
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05:42 EDTHBANHuntington Bancshares upgraded to Outperform at Keefe Bruyette
Keefe Brunette upgraded Huntington Bancshares to Outperform citing strong loan growth and an inexpensive relative valuation following the company's Q2 results. The firm raised its price target for shares to $11.50 from $10.
July 21, 2014
14:22 EDTHBANHuntington Bancshares upgraded to Sector Perform from Underperform at Portales
07:29 EDTBACAIG settlement with BofA takes crisis claw back total up to $2B, FT says
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July 18, 2014
16:47 EDTBACMarket ends week higher as earnings, M&A offset geopolitical tensions
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10:54 EDTHBANHuntington Bancshares says committed to returning capital to shareholders
10:21 EDTHBANHuntington Bancshares says committed to positive operating leverage for FY14
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09:24 EDTHBANOn The Fly: Pre-market Movers
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09:16 EDTHBANHuntington Bancshares says net interest income expected to grow modestly
Anticipates an increase in earning assets as total loans grow moderately and investment securities grow modestly. Says NIM will experience continued downward pressure. Excluding the impact of net MSR activity, noninterest income is expected to remain near the current quarter’s level. Says continued refinement of consumer checking products under its Fair Play philosophy is expected to have a negative quarterly impact on noninterest income of $6M beginning in July. Committed to delivering positive operating leverage for FY14. Noninterest expense, excluding one-time items, is expected to remain near the current quarter’s reported level. Says will continue to look for ways to reduce expenses. Sees continued performance of NCOs in or below long-term expected range of 35-55bps. Sees "moderate" quarterly volatility in credit quality. Sees improvement in NPAs. Says residential mortgages, home equity, and CRE are expected to grow modestly. Comments from slides that will be presented on the Q2 earnings conference call.
06:45 EDTBACDocument reveals SEC examining firms in HFT probe, Reuters says
An internal document from the U.S. Securities and Exchange Commission revealed that the regulator has been looking for data on 10 registered broker dealers as part of an ongoing probe into high-frequency trading strategies, according to Reuters, citing the document. The firms in question include Allston Trading, Hudson River Trading, Jump Trading, Latour Trading, which is an affiliate of Tower Trading, Merrill Lynch, Pierce, Fenner & Smith, owned by Bank of America (BAC), Octeg, which has been merged into a unit of KCG (KCG), Tradebot Systems, Two Sigma Investments, Two Sigma Securities and Virtu Financial. Reference Link
05:59 EDTHBANHuntington Bancshares reports Q2 EPS 19c, consensus 18c
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July 17, 2014
06:38 EDTBACStudy says UBS largest private bank with assets near $2T, Reuters says
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