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Stock Market & Financial Investment News

News Breaks
February 21, 2014
06:27 EDTICE, RY, TROWNYSE, others seek to end 'maker-taker' rebate system, Bloomberg reports
The New York Stock Exchange (ICE) and a number of money managers have been lobbying the SEC to do away with the practice of paying rebates to large brokers to attract trades to stock exchanges and other trading platforms, sources say, reports Bloomberg. The rebate system is known as “maker-taker.” Other firms that attended meetings with SEC commissioners included T. Rowe Price Group (TROW), Royal Bank of Canada (RY) and IEX Group Inc., sources added. Reference Link
News For ICE;TROW;RY From The Last 14 Days
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January 29, 2015
06:10 EDTTROWCiti recommends long Affiliated Managers, short T. Rowe Price trade
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January 28, 2015
07:37 EDTTROWT. Rowe Price: Investors should temper performance expectations
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07:35 EDTTROWT. Rowe Price reports Q4 EPS $1.18, consensus $1.14
Reports Q4 revenue $1.02B, consensus $1.02B; Reports Q4 Investment advisory revenue $892.1M. Assets under management at the end of 2014 were $746.8B.
January 27, 2015
15:35 EDTTROWNotable companies reporting before tomorrow's open
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January 26, 2015
11:39 EDTICENYSE, NASDAQ plan to keep normal hours today, tomorrow, Bloomberg says
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January 22, 2015
16:27 EDTRYOn The Fly: Closing Wrap
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13:59 EDTRYRoyal Bank of Canada not planning further large acquisitions, Reuters says
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12:28 EDTRYOn The Fly: Midday Wrap
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09:16 EDTRYOn The Fly: Pre-market Movers
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08:03 EDTRYRoyal Bank of Canada to host conference call
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07:14 EDTRYCity National volatility elevated into Royal Bank of Canada acquiring for $5.4B
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07:05 EDTRYRoyal Bank of Canada to acquire City National for $93.80 per share
City National Corporation (CYN) and Royal Bank of Canada (RY) announced a definitive agreement by which Royal Bank of Canada will acquire all outstanding shares of City National Corp. Total consideration is valued at approximately $5.4B at announcement, or approximately $93.80 per City National share, comprised of a mix of cash and common stock, based on RBC's closing stock price on January 21. The agreement has been approved by the boards of both companies. Following completion of this transaction, Russell Goldsmith will remain Chairman and CEO of City National, and he also will be responsible for RBC's U.S. Wealth Management unit. Goldsmith has served as City National's CEO since 1995. RBC will pay, on average, approximately $47.25 in cash and 0.7489 of an RBC common share for each share of City National common stock. City National stockholders will be entitled to elect to receive the merger consideration in RBC common shares or cash, subject to certain adjustments and limitations. The aggregate consideration will be paid with approximately $2.7B in cash and approximately 44M RBC common shares. This represents approximately a 50% cash and 50% share mix as of announcement. The total number of RBC common shares to be issued and the amount of cash to be paid in the transaction are both fixed. As part of the transaction, the Goldsmith family stockholders have agreed to vote their City National holdings in favor of the transaction and to hold at least 50% of the RBC common shares received by them in the transaction until the third anniversary of closing. The transaction is expected to be accretive to RBC's earnings per share in the latter part of year three and accretive to earnings in year two. Given RBC's strong capital position and internal capital generation, the company expects to maintain its ongoing capital management program, and to maintain a Common Equity Tier 1 ratio at closing broadly in line with its current level. RBC's CET 1 ratio was 9.9% as of October 31, 2014. Closing is expected before the end of calendar 2015 subject to customary closing conditions, including receipt of required regulatory approvals and the approval of City National's stockholders.
07:02 EDTRYRoyal Bank of Canada to acquire City National for $93.80 per share
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January 20, 2015
09:06 EDTICENYSE completes minority investment in Coinbase
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06:58 EDTTROWBlackRock, Fidelity close to launching 'dark pool,' WSJ reports
Some of the largest mutual fund firms, including Fidelity, BlackRock (BLK), Bank of New York Mellon (BK),, T. Row Price (TROW) and JP Morgan (JPM) are among the firms that are close to launching a new "dark pool," The Wall Street Journal reports, citing sources. The effort, which involves nine firms in total, would look to shut out sell-side trading desks and high-speed trading firms. Reference Link
January 16, 2015
10:06 EDTRYHigh option volume stocks
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10:01 EDTTROWOn The Fly: Analyst Downgrade Summary
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07:13 EDTICEIntercontinentalExchange February volatility elevated into Q4 and outlook
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06:42 EDTTROWT. Rowe Price downgraded to Underweight from Overweight at JPMorgan
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