New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
August 20, 2014
17:12 EDTHTZ, BRK.A, MET, HPQ, BACOn The Fly: Closing Wrap
The broader market opened slightly lower as investors moved to the sidelines awaiting the release of the minutes from last monthís FOMC meeting. There was little else for investors to key in on as the geopolitical situations were fairly quiet and the economic calendar was devoid of any major releases. As a result the averages drifted throughout the morning but by lunch time had crossed into positive ground. From there the Dow would take the lead while the Nasdaq lagged. The knee jerk reaction to the Fedís minutes, which showed a more heated debate about when to raised interest rates, pushed the market lower. After digesting the notes the market turned and closed with its fifth positive finish in the past six sessions. ECONOMIC EVENTS: The Mortgage Bankers' Association Purchase Applications showed a week-over-week drop of -0.4% in the purchase index, but a 3% rise in the refinance index... The EIA Petroleum Status Report showed a 4.5M draw in oil inventories to 362.5M barrels during last week... In the Fed minutes released at 2:00 pm ET, "many" FOMC members said that stimulus may have to be removed sooner than expected. COMPANY NEWS: After the close, Hewlett-Packard (HPQ) reported in-line Q3 earnings and Q4 guidance... Berkshire Hathaway (BRK.A) consented to a final judgment whereby it agreed to pay a civil penalty of $896,000 for failure to comply with the premerger reporting and waiting requirements of the Hart-Scott Rodino Act... Bank of America (BAC) reached a $17B settlement over mortgage backed securities sales, according to the Associated Press... MetLife (MET) has been moved closer to potentially being designated as a "systemically important financial institution," according to the Wall Street Journal. MAJOR MOVERS: Hertz (HTZ) rebounded after Carl Icahn reported an 8.48% stake in the company and said he plans to hold talks with the management. The stock closed down 3.9% after trading down over 9% intra-day. INDEXES: The Dow closed up 59.54, or 0.35%, to 16,979.13, the Nasdaq closed down 1.03, or 0.02%, to 4,526.48, and the S&P 500 closed up 4.91, or 0.25%, to 1,986.51.
News For A;BAC;MET;HTZ From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
1 | 2 | all recent news | >>
February 27, 2015
06:32 EDTBACBank of America Chief Accounting Officer, two directors to step down
Subscribe for More Information
05:50 EDTBACBank of America downgraded to Neutral from Buy at UBS
UBS analyst Brennan Hawken downgraded Bank of America to Neutral from Buy saying disclosures in the bank's recent annual filing raise the risk of a qualitative failure this year. Hawken believes that even with yesterday's 2.7% pullback, shares of Bank of America are not fully pricing in the risk of a qualified failure in the Federal Reserve's Comprehensive Capital Analysis and Review, or CCAR. The analyst writes that even if BofA passes the CCAR, the Fed's annual exercise to assess whether the largest banks have sufficient capital, its regulatory capital ratios are well below peers, which could drive lower capital returns. Hawken cut his price target on the banking giant to $16 from $20. Shares of Bank of America closed yesterday down 45c to $16.04.
February 26, 2015
15:02 EDTBACFed extends capital surcharge for SiFi banks comment period to April 3
The Federal Reserve extended until April 3 the comment period for its proposed rule to implement capital surcharges for the largest, most systemically important U.S. bank holding companies. The Fed extended the comment period to allow interested persons more time to analyze the issues and prepare their comments. Originally, comments were due by March 2. The proposed rule would establish a methodology to identify whether a firm is a global systemically important banking organization and would also establish the size of a firm's risk-based capital surcharge. The proposal is designed to further strengthen the capital positions of these institutions. Large U.S. banks include Bank of America (BAC), Citi (C), Goldman Sachs (GS), JPMorgan (JPM), Morgan Stanley (MS), U.S. Bancorp (USB) and Wells Fargo (WFC).
14:01 EDTBACBarclays to double provision for forex rigging fines, Sky News says
Barclays (BCS), which previously excluded itself from a broader settlement between several banking peers and regulators over alleged manipulation of foreign exchange rates as it worked to secure a binding agreement with all relevant authorities, will more than double its existing provision for forex fines next week, which may indicate that a settlement deal could be announced soon, said Sky News. Barclay took a GBP500M charge during the course of last year in advance of expected forex issue costs, the report noted. Other banks that previously agreed to a settlement included Bank of America (BAC), Citibank (C), HSBC (HSBC), JPMorgan Chase (JPM), RBS (RBS) and UBS (UBS). The report indicates that U.S. regulators have stepped up talks with banks including Barclays and the others involved. Reference Link
10:50 EDTBACNew York regulator considering cybersecurity, cash laundering controls, WSJ says
Subscribe for More Information
February 25, 2015
13:02 EDTMETMetLife Home Loans to pay $123.5M to resolve mortgage lending violations
Subscribe for More Information
10:01 EDTAOn The Fly: Analyst Upgrade Summary
Subscribe for More Information
09:08 EDTHTZOn The Fly: Pre-market Movers
Subscribe for More Information
08:28 EDTAAgilent upgraded to Buy from Neutral at BTIG
Subscribe for More Information
07:18 EDTAG Corp to hold annual meeting
Subscribe for More Information
07:14 EDTHTZHertz reports Q4 revenue $2.55B, consensus $2.52B
Subscribe for More Information
07:12 EDTHTZHertz expects foreign currency rates to negatively impact 2015 revenue by 3%
Subscribe for More Information
07:11 EDTHTZHertz remains committed to separation of equipment rental business
Hertz remains committed to the separation of its equipment rental business and is continuing to advance those plans, although the timing of the actual separation will not occur until after the company has completed its accounting review, filed its financial statements with the SEC, and has completed the audited carve out financial statements for the equipment rental business and requisite SEC filing activities for the separation.
07:10 EDTHTZHertz: Early initiatives increase cost reduction commitment to $200M run rate
Subscribe for More Information
February 24, 2015
14:43 EDTBACBofA head of Americas equitites leaving company, Bloomberg reports
Subscribe for More Information
12:12 EDTBACBank of America head of equities for America leaving bank, Bloomberg says
07:21 EDTBACSecurities Industry & Financial Markets Association to hold a conference
Subscribe for More Information
February 19, 2015
09:09 EDTALeerink's life science tools analyst holds an analyst/industry conference call
Subscribe for More Information
06:47 EDTBACReport shows subprime consumer loans at pre-2007 levels, WSJ says
Equifax (EFX) has released a report stating nearly 40%, or 50M, of auto loans, credit cards, and personal loans during the first 11 months of 2014 were made to subprime customers, the highest levels since the 2007 financial crisis, reports the Wall Street Journal. LendingTree (TREE) Chief Marketing Officer Gabriel Dalporto attributes the growth to nonbank lenders under less regulatory scrutiny than large banks. Publicly traded companies in the space include Bank of America (BAC), Citi (C), Goldman Sachs (GS), JPMorgan (JPM), Morgan Stanley (MS), U.S. Bancorp (USB) and Wells Fargo (WFC). Reference Link
February 18, 2015
07:21 EDTBACJPMorgan, Citi top government report of riskiest banks, Reuters reports
Subscribe for More Information
1 | 2 | all recent news | >>

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the theflyonthewall.com disclaimer & terms of use