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Stock Market & Financial Investment News

News Breaks
May 14, 2014
06:32 EDTBAC, JBAXYJulius Baer said nearly 100 employees left group in restructuring
In an interim report, Julius Baer said that the previously communicated restructuring following the completion of the majority of Merrill Lynch’s International Wealth Management asset transfers is on track. The company comments, "During the first four months of 2014, on a net basis, the integration-related rightsizing resulted in more than 100 employees leaving the Group, thereby enabling the Group to make good progress according to plan towards the realization of the transaction-related synergy targets." Reference Link
News For JBAXY;BAC From The Last 14 Days
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February 8, 2016
06:31 EDTBACNorway's oil fund tells U.S. banks to split CEO-chairman positions, FT says
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February 5, 2016
15:59 EDTBACOptions Update; February 5, 2016
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09:37 EDTBACActive equity options trading on open
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February 4, 2016
18:56 EDTJBAXYU.S. files criminal charges against Julius Baer, reaches $547M agreement
Acting Assistant Attorney General Caroline Ciraolo of the Justice Department's Tax Division, U.S. Attorney Preet Bharara of the Southern District of New York, and Chief Richard Weber of the IRS Criminal Investigation department announced the filing of criminal charges against Julius Baer. The bank is charged with conspiring with "many" of its U.S. taxpayer-clients and others to help U.S. taxpayers hide billions of dollars in offshore accounts from the IRS and to evade U.S. taxes on the income earned in those accounts. Acting Assistant Attorney General Ciraolo and U.S. Attorney Bharara also announced a deferred prosecution agreement with Julius Baer under which the company admits it knowingly assisted many of its U.S. taxpayer-clients in evading their tax obligations under U.S. law. The agreement requires Julius Baer to pay a total of $547M by no later than February 9, including through a parallel civil forfeiture action also filed Thursday in the Southern District of New York. If Julius Baer abides by all of the terms of the agreement, the government will defer prosecution for three years and then seek to dismiss the charges. In addition, two Julius Baer client advisers, Daniela Casadei and Fabio Frazzetto, pleaded guilty in Manhattan federal court to charges of conspiring with U.S. taxpayer-clients and others to help U.S. taxpayers hide their assets in offshore accounts and to evade U.S. taxes on the income earned in those accounts. Reference Link
15:59 EDTBACOptions Update; February 4, 2016
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10:01 EDTBACActive puts: SPY QQQ EEM PFE
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09:36 EDTBACActive equity options trading on open: AAPL FB GPRO AA NFLX BAC TWC YHOO PG
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06:58 EDTBACFed official supports tougher bank stress tests, Reuters reports
Boston Fed president Eric Rosengren said that he supports tougher stress tests for "too big to fail" banks, including larger capital investments that would make them "even more binding," Reuters reports. Rosengren said that stress test changes have reduced the likelihood that systemically important financial firms would fail, the report says. 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
06:51 EDTBACBofA doesn't deserve to be in 'stock market doghouse,' WSJ says
Bank of America (BAC) is currently in the "stock market doghouse," but doesn't deserve to be, David Reilly of the Wall Street Journal's Ahead of the Tape says. The overall beating of U.S. bank stocks has come amid the greater market selloff, reflecting the fact that slowing growth has brought doubt on the Fed's ability to raise rates in March, Reilly says. Since a rate increase is a far-off prospect, investors have little reason to own bank stocks, though Bank of America's valuation assumes "too dire an outcome," the report says. Banks with international outreach, such as Citi (C), are still arguably further behind in post-crisis cleanup, but Bank of America is more focused on the domestic U.S. economy and prices a U.S. recession as a given, not a possibility, the report says. Other large U.S. banks include Wells Fargo (WFC), JPMorgan (JPM), Goldman Sachs (GS), Morgan Stanley (MS), U.S. Bancorp (USB), BB&T (BBT), PNC Financial (PNC), and SunTrust (STI). Reference Link
February 3, 2016
16:00 EDTBACOptions Update; February 3, 2016
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13:16 EDTBACBank of America calls active as shares trade near three-year low
Bank of America January 15 and 17 calls are active on total call volume of 321K contracts (161K puts). February call option implied volatility is a 45, March is at 42, May is at 34, January is at 33; compared to its 52-week range of 16 to 45. Active call volume suggest traders taking positions for upside price movement.
10:18 EDTBACActive calls: USO IWM SPY BAC AAPL
Active calls: USO 2/19/16 10, IWM 2/12/16 100, BAC 3/18/16 16, SPY 2/5/16 191, AAPL 2/5/16 95.50
February 2, 2016
10:00 EDTJBAXYOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: DuPont Fabros (DFT) upgraded to Buy from Hold at Evercore ISI... GOL Linhas (GOL) upgraded to Neutral from Sell at Goldman... Integrated Device (IDTI) upgraded to Outperform from Neutral at Wedbush... Julius Baer (JBAXY) upgraded to Hold from Sell at Deutsche Bank... Kohl's (KSS) upgraded to Buy from Neutral at Buckingham... Mattel (MAT) upgraded on positive catalysts at Stifel... Mitsubishi sees limited downside for Tableau (DATA), ups to Neutral ... Morgan Stanley (MS) upgraded to Outperform from Neutral at Macquarie... Netflix (NFLX) upgraded to Overweight from Neutral at Piper Jaffray... Realty Income (O) upgraded to Equal Weight from Underweight at Morgan Stanley... TJX (TJX) upgraded to Outperform from Market Perform at BMO Capital.
09:36 EDTBACActive equity options trading on open
Active equity options trading on open: FB AAPL BAC GOOGL NFLX GOOG XOM TWTR LVS
05:30 EDTJBAXYJulius Baer upgraded to Hold from Sell at Deutsche Bank
February 1, 2016
16:01 EDTBACOptions Update; February 1, 2016
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10:51 EDTBACActive calls; INTC CVS TWTR APC BAC
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09:36 EDTBACActive equity options trading on open
Active equity options trading on open: BAC AAPL FB AMZN TWTR MGM MCD NFLX GILD INTC TSLA AA BABA C
January 31, 2016
20:43 EDTBACOn The Fly: Top five weekend stock stories
Catch up on the weekend's top five stories with this list compiled by The Fly: 1. Coca-Cola (KO) announced a minority stake in diary and juice company Chi, with plans to take full ownership within three years. 2. Billionaire investor Nelson Peltz is considering taking an activist position in Time Warner (TWX), the New York Post reported. 3. Toyota (TM) could temporarily halt domestic production after an explosion at a key supplier curbed its supply of steel, Reuters said. 4. Investigations into Herbalife (HLF), as well as investigations into Bill Ackman himself, have fizzled and criminal charges look unlikely, the Wall Street Journal revealed. 5. Virtu Financial (VIRT) and Ctrip (CTRP) were discussed positively by Barron's this week, as well as "tech bargains" Autodesk (ADSK), Akamai (AKAM), Western Digital (WDC), SanDisk (SNDK) and Lam Research (LRCX) and attractive banking stocks Citi (C), JPMorgan (JPM), Bank of America (BAC) and Wells Fargo (WFC).
12:33 EDTBACU.S. banks could return 20% or more, Barron's says
The banking sector looks like "one of the best bargains in the market," Barron's contends in a cover story. Names such as Citi (C), JPMorgan (JPM), Bank of America (BAC), Wells Fargo (WFC), Goldman Sachs (GS), Morgan Stanley (MS), BB&T (BBT), PNC Financial (PNC), SunTrust (STI) and U.S. Bancorp (USB) are showing healthy balance sheets and could offer "at least" 20% upside, the publication argues, adding that the industry's exposure to the energy sector "looks manageable" given information offered in recent earnings reports and conference calls. Reference Link
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