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Stock Market & Financial Investment News

News Breaks
May 14, 2014
08:46 EDTBAC, HBANHuntington Bancshares to purchase 13 Michigan branches from Bank of America
Huntington Bancshares Incorporated (HBAN) has agreed to purchase 13 Michigan branches from Bank of America (BAC), which follows a recent agreement between the companies for Huntington to purchase 11 other branches in the state. The agreement for the additional 13-branch purchase will fill in Huntington’s presence further in East Michigan. In addition to welcoming new branch colleagues, the cumulative acquisitions will result in approximately 40 new Huntington Michigan operations jobs, contributing to Huntington employment growth of more than 500 jobs in the state between 2011 and 2014. With the 13-branch acquisition, Huntington will purchase approximately $500M in deposits, for a deposit premium of 3.5 percent based on deposit balances at the time the transaction closes, which is expected to be in the second half of 2014. No loans are included in the purchase. Subject to the satisfaction of customary closing conditions, including regulatory approvals, this purchase agreement and Huntington’s previously announced agreement to purchase 11 branches in Saginaw and other markets includes nearly $1B of deposits. Furthermore, Huntington has engaged in a series of public-private partnerships with the state of Michigan and Michigan Economic Development Corporation since 2011, including the successful completion of a $2B statewide lending commitment to commercial and small businesses, and the launch of the Pure Michigan Micro Lending Initiative. Huntington is also in the process of successfully concluding a $100M Michigan affordable housing investment statewide commitment.
News For HBAN;BAC From The Last 14 Days
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July 30, 2015
08:45 EDTBACMerill Lynch brokers threaten to leave 'in mass,' Fox Business reports
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06:55 EDTBACBanks pitch total-return swaps as stock purchase alternative, WSJ reports
Banks have been pitching certain hedge fund clients on using derivatives instead of actual stocks when placing certain bets in an effort to lessen the impact of new capital rules on the banks' businesses, the Wall Street Journal reports, citing people familiar with the efforts. The shift involves derivatives known as total-return swaps that mirror the effects of owning a stock or other asset, the report says. Units of Bank of America (BAC), Goldman Sachs (GS), JPMorgan Chase (JPM), Morgan Stanley (MS), and UBS (UBS) are among the banks asking clients to shift trades into total-return swaps instead of underlying securities, the report says. Reference Link
July 29, 2015
16:00 EDTBACOptions Update; July 29, 2015
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July 28, 2015
16:00 EDTBACOptions Update; July 28, 2015
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July 27, 2015
08:33 EDTBACBank of America increases environmental initiative from $50B to $125B
Bank of America said it has pledged to increase the company’s current environmental business initiative from $50B to $125B in low-carbon business by 2025 through lending, investing, capital raising, advisory services and developing financing solutions for clients around the world.
July 24, 2015
14:01 EDTBACBank of America's Lynch to step down as general counsel, Bloomberg reports
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09:36 EDTBACActive equity options trading on open
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July 23, 2015
10:25 EDTHBANHuntington Bancshares says it expects to grow revenue despite pressure
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09:23 EDTHBANHuntington Bancshares expects to deliver positive operating leverage in FY15
Excluding Significant Items and net MSR activity, says expects to deliver positive operating leverage in FY15, both inclusive and exclusive of the impact of HTF. Overall, says asset quality metrics are expected to remain near current levels, although moderate quarterly volatility also is expected. Comments from slides that will be presented on the Q2 earnings conference call.
07:45 EDTHBANHuntington Bancshares releases results of 2015 Dodd-Frank Stress Test
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07:15 EDTBACBank of America could underperform after executive changes, says Wells Fargo
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06:58 EDTHBANHuntington Bancshares reports Q2 EPS 23c, consensus 21c
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July 22, 2015
18:59 EDTBACBank of America announces CFO Bruce Thompson to step down
Bank of America announced that CFO Bruce Thompson has decided to step down after more than five years as Chief Risk Officer and Chief Financial Officer. Paul Donofrio, who has been with Bank of America since 1999 and has 25 years of global corporate and investment banking experience, will become CFO, effective August 1. Additionally, Global Human Resources executive Andrea Smith will assume a newly created position as Chief Administrative Officer. Replacing Smith as Global Human Resources executive is Sheri Bronstein.
18:37 EDTBACBank of America CFO Bruce Thompson to step down, WSJ reports
Bank of America CFO Bruce Thompson is leaving the bank, according to an internal memo, and will be replaced with Paul Donofrio, the Wall Street Journal reports. Reference Link
15:26 EDTHBANNotable companies reporting before tomorrow's open
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July 21, 2015
16:01 EDTBACOptions Update; July 21, 2015
iPath S&P 500 VIX Short-Term Futures down 13c to 16.20. Option volume leaders: AAPL BAC FB BAC MSFT NFLX AMD IBM CHK
09:35 EDTBACActive equity options trading on open
Active equity options trading on open: AAPL FB IBM TSLA BAC PVA NFLX
July 20, 2015
16:01 EDTBACOptions Update; July 20, 2015
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13:03 EDTBACFed proposes final rule on capital surcharges for largest U.S. banks
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09:34 EDTBACActive equity options trading on open
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