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Stock Market & Financial Investment News

News Breaks
February 19, 2013
09:20 EDTAEG, UBS, USB, RBS, RY, CS, WFC, C, SAN, BBVA, BCS, DB, MS, GS, LYG, ING, BAC, JPMBasel proposal would force banks to increase capital in short-term, FT says
A proposal by the Basel Committee on Banking Supervision to set a designated time period for risk models could force some banks to sharply increase the amount of capital they hold against trading assets, at least over the short term, if adopted, according to Financial Times. Reference Link
News For JPM;BAC;GS;C;USB;MS;WFC;UBS;DB;CS;AEG;BCS;RY;ING;BBVA;RBS;LYG;SAN From The Last 14 Days
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March 17, 2015
10:00 EDTCSOn The Fly: Analyst Downgrade Summary
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09:34 EDTSANActive equity options trading on open
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08:34 EDTBACBank of America reinstated with an Outperform at Raymond James
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08:26 EDTRBSFreddie Mac, Fannie Mae begin legal battle against Nomura, RBS, NY Post says
Freddie Mac (FMCC) and Fannie Mae (FNMA) alleged in court proceedings Monday that they bought "bad" mortgages because they were mislead by banks, reports the New York Post, citing court arguments. Monday was the first day of the lawsuit against Nomura (NMR) and co-defendant Royal Bank of Scotland (RBS) which seeks $1B in damages as well as the ability to return the securities to the banks. Lawyers presented internal bank emails that identified some mortgages as "crap" or from "extremely dysfunctional" lenders, while the banks alleged that they fully disclosed the poor quality of the products. Reference Link
07:15 EDTCCiti price target raised on positive news flow at Deutsche Bank
Deutsche Bank raised its price target for Citi (C) shares to $56 from $54 citing recent positive news flow around the sale of OneMain, the credit card deal with Costco (COST) and last week's stress test results. Deutsche notes the stock still trades at a 6% discount to tangible book. It keeps a Buy rating on Citi.
06:30 EDTCSCredit Suisse downgraded to Underperform from Neutral at Macquarie
Macquarie downgraded Credit Suisse to Underperform following recent share strength.
05:34 EDTJPMJPMorgan providing financial advice to UK government to fight dementia
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March 16, 2015
17:07 EDTCSCredit Suisse to pay Freeport McMoRan $10M to settle allegations, WSJ says
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16:00 EDTCOptions Update; March 16, 2015
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14:09 EDTCCiti reports February credit loss 2.55% vs. 2.30% last month
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14:08 EDTUBS, DB, ING, RBS, BCS, SAN, CS, LYGEU regulator says time for fine-tuning, Reuters says
The Basel Committee on Banking Supervision believes the necessary bank regulatory framework is in place though some additional work must be done to finalize leverage ratio and capital floor rules, Reuters reported yesterday, citing statements by secretary-general William Coen at a financial conference in Doha. Coen added, "We're now at the state where we can take a step back and look to see how [the regulations] fit together," cautioning that further analysis must be data-driven but admitting that both banks and regulatory bodies were feeling "regulation fatigue." Publicly traded companies in the space include Banco Santander (SAN), Barclays (BCS), Credit Suisse (CS), Deutsche Bank (DB), HSBC (HSBC), ING Groep (ING), Lloyds Banking (LYG), RBS (RBS) and UBS (UBS). Reference Link
13:05 EDTMSMorgan Stanley's quarter not shaping up to be strong one, says Rafferty Capital
Rafferty Capital's Dick Bove said Morgan Stanley's current quarter is not shaping up to be a strong one. Bove said industry trade data from the NY Federal Reserve Bank is not that encouraging with fall offs in numbers in key categories. The analyst believes trading is flat to down overall in the quarter and investment banking its not fairing much better. Bove still views Morgan Stanley among his top picks for 2015 despite near-term issues.
12:33 EDTMSMorgan Stanley may be challenged in quarter, says Rafferty Capital
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10:22 EDTBACBank of America February default rate 2.98% vs. 2.93% last month
Reports February delinquency rate 1.86% vs. 1.83% last month.
09:30 EDTDBConsortium wants to securitize $5.3B of debt from GE Capital, Reuters says
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08:28 EDTJPMJPMorgan reports February net credit losses 2.42% vs. 2.53% last month
Reports February delinquency rate 1.35% vs. 1.34% last month.
06:25 EDTSANBanco Santander able to easily sell subprime auto loan bond, NY Times says
Banco Santander last week was able to easily sell its bond comprised mostly of subprime auto loans, according to The New York Times. The deal was worth $712M, the newspaper noted. Reference Link
06:20 EDTJPMU.S.poised to charge JPMorgan hacking suspects, NY Times says
U.S. authorities probing last summer's cyberattack on JPMorgan are increasingly confident that they will be able to file criminal charges against perpetrators of the attack in coming months, according to The New York Times, which cited unnamed sources who have been briefed on the investigation. Several of the suspects are located in countries with whom the U.S. has extradition treaties, the newspaper explained. Reference Link
March 15, 2015
17:46 EDTCSCredit Suisse has no plans to raise capital, Reuters says
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12:41 EDTDBGE sells Australia-New Zealand consumer lending unit to consortium
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