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Stock Market & Financial Investment News

News Breaks
May 11, 2012
16:15 EDTALR, ARNA, LNKD, JPM, CHK, MWWOn The Fly: Closing Wrap
Stocks on Wall Street were mixed, as the Nasdaq was just barely able to cling to a marginal gain for the session. Stock futures pointed to a sharply lower open following JPMorgan’s (JPM) announcement of a $2B trading loss. The futures moved off their lows prior to the open but the broader market opened in negative territory. The averages found a level where they began to build following the highest consumer confidence reading since January 2008. Each of the major indices made it to positive territory and then went into a slow drift lower, with only the Nasdaq avoiding a return to the red... ECONOMIC EVENTS: Domestically, the producer price index report showed that prices fell 0.2% in April, versus expectations for no change. The core reading, which strips out food and energy, rose 0.2%, which was in line with expectations. The University of Michigan Consumer Confidence reading was 77.8, stronger than the expected 76 reading and its highest level since January 2008. Internationally, data from China and India may signal a further weakening of the global recovery, as China reported its industrial production rose 9.3% from a year ago in April while India's industrial output fell 3.5% in March from the prior year... COMPANY NEWS: The surprising announcement from JPMorgan of a $2B trading loss at one of its divisions triggered calls for tougher bank regulation and a sell off in its shares. CEO Jamie Dimon admitted to “egregious” failures in its risk management and said the losses could deepen this quarter and beyond, sending its stock down more than 9%... MAJOR MOVERS: Among the notable gainers were Arena Pharmaceuticals (ARNA), up $2.70, or 73.77%, to $6.36, after an FDA panel backed the approval of its weight loss drug, lorcaserin, and Monster Worldwide (MWW), up $1.50, or 19.13%, to $9.33, after Reuters said the company has attracted takeover interest from LinkedIn (LNKD) and Silver Lake, but CNNMoney said sources close to LinkedIn denied that report. Noteworthy losers included Alere (ALR), down $3.28, or 14.71%, to $19.02, following its disclosure of a subpoena from the Department of Health and Human Services and the potential of broader recalls of certain products after an FDA inspection, and Chesapeake Energy (CHK), down $2.37, or 13.80%, to $14.81, after the company said it would need to delay its 10-Q filing and then made the filing shortly afterward, in which it said it may have to delay some of its asset sales... INDICES: The Dow lost 34.44, or 0.27%, to 12,820.60; the Nasdaq rose 0.18, or 0.01%, to 2,933.82; and the S&P 500 dropped 4.60, or 0.34%, to 1,353.39.
News For JPM;ARNA;MWW;LNKD;ALR;CHK From The Last 14 Days
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February 24, 2015
15:21 EDTCHKNotable companies reporting before tomorrow's open
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10:53 EDTJPMJPMorgan rises, levels to watch
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09:25 EDTJPMJPMorgan sees pro forma net income growing to about $30B over 3 year horizon
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09:11 EDTJPMJPMorgan CFO says will 'aggressively' manage G-SIB exposures
CFO Lake says may take at actions to reduce G-SIB buffer to 4% if required actions are accretive.
09:06 EDTJPMJPMorgan CFO says company seeks to raise dividends if approved
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09:01 EDTJPMJPMorgan expects legal costs to ease, but remain above pre-crisis levels
08:55 EDTJPMJPMorgan expect net charge offs to remain low at $4B+ in 2015
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07:21 EDTJPMSecurities Industry & Financial Markets Association to hold a conference
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06:15 EDTJPMBanks probed for possible rigging of precious metals markets, WSJ reports
Officials in the U.S. are investigating at least 10 major banks for potential rigging of precious-metals markets, sources tell The Wall Street Journal. The DOJ's antitrust unit are investigating the price-setting process for gold, silver, palladium and platinum in London, while the CFTC has begun a civil investigation, with both agencies making requests for information, including a subpoena to HSBC (HSBC) from the CFTC. According to a source, Credit Suisse (CS), JP Morgan (JPM), UBS (UBS), Societe Generale (SCGLY), Bank of Nova Scotia (BNS), Barclays (BCS), Goldman Sachs (GS) and Deutsche Bank (DB) are also under investigation. Reference Link
06:12 EDTJPMJPMorgan plans to charge fees for deposits from large clients, WSJ says
JPMorgan is planning to charge corporate clients, hedge funds, private-equity firms, and foreign banks for deposits due to regulatory rules that impose costs on holding money viewed as "prone to fleeing" during financial stress, reports the Wall Street Journal, citing an internal memo and people familiar with the plan. Clients will be asked to pay a fee or move funds to other products such as money-fund sweep accounts. Retail customers are unaffected. Reference Link
February 23, 2015
11:08 EDTJPMJPMorgan weekly volatility elevated into investor day
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08:57 EDTJPMJPMorgan to host investor day
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February 20, 2015
09:47 EDTLNKDLinkedIn management to meet with Pacific Crest
Meetings to be held in the Midwest February 26-27 hosted by Pacific Crest.
06:04 EDTCHKChesapeake March volatility elevated into Q4 and outlook
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06:03 EDTJPMAnn Inc. working with JPMorgan on potential sale, Bloomberg reports
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February 19, 2015
17:58 EDTJPMAnn Inc. working with JPMorgan on potential sale, Bloomberg says
09:59 EDTMWWOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Altisource Residential (RESI) upgraded to Neutral from Sell at Compass Point... Angie's List (ANGI) upgraded to Overweight from Equal-Weight at First Analysis... Barrick Gold (ABX) upgraded to Buy from Hold at TD Securities... British Land (BTLCY) upgraded to Buy from Hold at Societe Generale... Coach (COH) upgraded to Buy from Hold at Topeka... Fiat Chrysler (FCAU) upgraded to Outperform from Neutral at Exane BNP Paribas... Garmin (GRMN) upgraded at BofA/Merrill... Hologic (HOLX) upgraded to Buy from Hold at Canaccord... Iberdrola (IBDRY) upgraded to Neutral from Underweight at HSBC... KPN (KKPNY) upgraded to Neutral from Underperform at Exane BNP Paribas... Monster Worldwide (MWW) upgraded at Evercore ISI... Pharmacyclics (PCYC) upgraded to Buy from Neutral at Nomura... RPC, Inc. (RES) upgraded to Equal Weight from Underweight at Morgan Stanley... Sanofi (SNY) upgraded to Buy from Neutral at BofA/Merrill... Sasol (SSL) upgraded to Neutral from Underweight at HSBC... Tractor Supply (TSCO) upgraded at Oppenheimer... Valero (VLO) upgraded to Buy from Hold at Deutsche Bank... Weingarten Realty (WRI) upgraded to Neutral from Sell at UBS... Werner (WERN) upgraded on improving freight fundamentals at RBC Capital... diaDexus (DDXS) upgraded to Buy from Neutral at Ladenburg,
07:42 EDTMWWMonster Worldwide upgraded at Evercore ISI
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06:47 EDTJPMReport 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
06:20 EDTMWWMonster Worldwide upgraded to Buy from Hold at Evercore ISI
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