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Stock Market & Financial Investment News

News Breaks
March 17, 2014
10:08 EDTHTZ, BAC, BCSHertz rises after FT says company close to unit spin-off
Shares of Hertz Global Holdings (HTZ) are higher this morning following a Financial Times report that said the company is close to a spin-off of its construction equipment rental business. Hertz operates in two segments: Rental and leasing of cars and trucks and equipment rental. WHAT'S NEW: The Financial Times reported on Friday evening that Hertz is getting ready to spin-off the construction equipment rental business in a deal that could value the unit at about $4.5B. The company has been exploring a spin-off to shareholders or a reverse Morris trust, which combines a spin-off with a merger, and was under pressure last year by activist investors like Carl Icahn and Corvex. The company has also been rumored to have been talking with potential merger targets. In December, Hertz announced a one-year shareholder rights plan following evaluation and consultation with its outside advisers. The company hired Bank of America Merrill Lynch (BAC) and Barclays (BCS) in January for advice on defending itself against an investor attack and improving investor returns. Details of the potential spin-off could be announced next week, the report said, citing sources familiar with the matter. WHAT'S NOTABLE: The construction equipment rental business, or HERC, accounted for $1.1B of Hertz's revenue in the first nine months of 2013, the FT noted. PRICE ACTION: Hertz shares are up $1.47, or 5.65%, to $27.45 in mid-morning trading.
News For HTZ;BAC;BCS From The Last 14 Days
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September 22, 2014
13:39 EDTBCSFCA to fine Barclays GBP 38M over client assets, Sky News reports
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10:00 EDTBACBank of America rallies, levels to watch
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September 20, 2014
19:48 EDTBACBank of America could climb over 50%, Barron's says
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September 19, 2014
16:00 EDTBACOptions Update; September 19, 2014
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08:05 EDTHTZHertz says China partner IPOs in Hong Kong
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September 18, 2014
16:00 EDTBACOptions Update; September 18, 2014
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14:08 EDTBACBanks look to high-interest personal loans to boost revenue, WSJ says
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07:52 EDTBCSUBS Chair says litigation bigger worry than stress test, Bloomberg reports
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06:39 EDTBCSEuropean banks take out EUR83B of loans from central bank, NY Times says
European banks agreed to take out EUR83B in low interest loans from the European Central Bank, as part of a program in which all of the funds must be loaned to businesses or individuals, or repaid to the central bank within two years, according to The New York Times. Several analysts had said that they would be disappointed if banks took out less than EUR100B in loans, but a number of analysts said that a second round of the program, due to occur in December after stress tests have been completed, may be more popular, the newspaper stated. Publicly traded European banks include Banco Santander (SAN), Barclays (BCS), Credit Suisse (CS), Deutsche Bank (DB), HSBC (HSBC), ING Groep (ING), Lloyds Banking (LYG), Royal Bank of Scotland (RBS) and UBS (UBS). Reference Link
September 17, 2014
16:00 EDTBACOptions Update; September 17, 2014
iPath S&P 500 VIX Short-Term Futures down 24c to 27.63. Option volume leaders: AAPL TSLA BAC TWTR AMZN X WLT KO PBR according to Track Data.
13:16 EDTBACHolder says DOJ looking to charge bank executives, Washington Post says
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07:43 EDTBCSBarclays, NY AG spar over fraud allegations, Reuters reports
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06:54 EDTBACNY Attorney General announces NYC bank identity-theft ring takedown
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September 16, 2014
16:00 EDTBACOptions Update; September 16, 2014
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14:44 EDTBCS, BACVirginia AG files $1.15B lawsuit against banks that sold RMBS during crisis
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13:15 EDTBACBank of America gives up $6B in revenue with new consumer strategy, Reuters says
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11:54 EDTBACBank of America reportedly cutting jobs in NY, Houston, DealBreaker says
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08:06 EDTHTZHertz and Carl Icahn reach agreement regarding board appointments
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07:43 EDTBACRBC Capital to hold a conference
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06:03 EDTBACHuntington Bancshares completes acquisition of 24 Bank of America branches
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