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Stock Market & Financial Investment News

News Breaks
November 16, 2012
16:18 EDTSHLD, JPM, CS, DELL, PENN, SHF, FLO, DVAXOn The Fly: Closing Wrap
Stocks on Wall Street were higher on the day after positive news out of Washington regarding the fiscal cliff saw stocks surge back into the green near midday. The averages drifted just north of the flat-line for the remainder of the trading session before riding a late day rally to head into the weekend with modest gains, though not enough to keep them from finishing down on the week... ECONOMIC EVENTS: In the U.S., industrial production unexpectedly declined 0.4% in October, compared to forecasts for a 0.2% gain, though the Fed said that Superstorm Sandy cut total production by almost 1 percentage point... COMPANY NEWS: JPMorgan (JPM) and Credit Suisse (CS) both agreed to pay settlements relating to their sale of residential mortgage-backed securities. JPMorgan agreed to pay $297M, with most of that payment related to Bear Stearns actions, while Credit Suisse will pay $120M to settle the charges. Shares of JPMorgan edged up 14c, or 0.36%, to $39.53 on the day, while shares of Credit Suisse fell 43c, or 1.92%, to $21.94... Shares of PC maker Dell (DELL) traded down 72c, or 7.53%, to $8.84 after the company's quarterly results missed estimates on both the top and bottom lines... MAJOR MOVERS: Among the notable gainers was Penn National (PENN), up $10.62, or 28.24%, to $48.23 after announcing its intent to separate its gaming assets and real estate assets into two publicly traded companies. Also higher were shares of Schiff Nutrition (SHF), up $9.84, or 29.01%, to $43.76 after the Reckitt Bensicker commenced a tender offer to acquire the company for $42 per share, and Flower Foods (FLO), which rose $2.06, or 10.17%, to $22.32 after Hostess Brands said it would liquidate, which could allow Flower to gain market share or look at a deal to acquire Hostess assets. Among the noteworthy losers was Dynavax (DVAX), down $2.19, or 47.30%, to $2.44 after an FDA advisory committee voted that there was insufficient data to adequately support the safety of its Heplisav vaccine. Also trading lower were shares of Sears Holding (SHLD), down $10.99, or 18.79%, to $47.49, after the company reported its domestic comparable store sales declined 3.1% in Q3... INDICES: The Dow gained 45.93, or 0.37%, to 12,588.31; the Nasdaq rose 16.19, or 0.57%, to 2,853.13; and the S&P 500 added 6.55, or 0.48%, to 1,359.88.
News For JPM;CS;DELL;PENN;SHF;FLO;DVAX;SHLD From The Last 14 Days
Check below for free stories on JPM;CS;DELL;PENN;SHF;FLO;DVAX;SHLD the last two weeks.
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July 15, 2014
08:34 EDTJPMJPMorgan CEO Dimon says feels great, prognosis excellent for condition
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08:30 EDTJPMJPMorgan sees current fixed income and equities environment to persist in Q3
In Fixed Income & Equities, JPMorgan expects the current environment to persist into Q3 with normal seasonal trends. In Securities Services, sees revenue to decrease by approximately $100M in Q3 from $1.14B in Q2, due to seasonality. In Treasury Services, expects revenue to be flat vs. Q2 at approximately $1B in Q3, primarily due to the impact of business simplification and lower trade finance balances and spreads. JPMorgan sees FY14 pretax margin and ROE to be lower than Q2, as the business continues to invest in both infrastructure and controls as well as select front office hiring, but is on track to deliver TTC targets for FY15. Guidance in slides for Q2 earnings conference call.
08:26 EDTJPMJPMorgan expects FY14 adjusted expense $58B+/-
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07:23 EDTJPMFortune to hold a conference
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07:08 EDTJPMJPMorgan CEO says saw encouraging signs toward end of Q2
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07:06 EDTJPMJPMorgan reports Q2 Basel III Common Equity Tier 1 ratio 9.8%
Reports Common Equity Tier 1 of $161B, or ratio of 9.8%. Reports Firm Supplementary Leverage Ratio of 5.4%. Reports "core loans" up 8% compared with the prior year. Consumer & Community Banking: average Consumer & Business Banking deposits up 9%; credit card sales volume up 12%; record client investment assets up 19%; record Business Banking loan originations up 46% Corporate & Investment Bank: maintained #1 ranking for Global Investment Banking fees with 8.2% wallet share YTD; assets under custody up 14%. Commercial Banking: period-end loan balances up 9%, driven by 14% growth in Commercial Real Estate; gross investment banking revenue with Commercial Banking clients up 25%. Asset Management: twenty-first consecutive quarter of positive net long-term client flows; record client assets up 15%; record loan balances up 17%.
07:05 EDTJPMJPMorgan reports headcount down 8,871 to 245,192
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07:04 EDTJPMJPMorgan reports Q2 provision for credit losses $692M
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07:02 EDTJPMJPMorgan says Q2 results include $500M after-tax, or 13c, legal expense
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07:01 EDTJPMJPMorgan reports Q2 adjusted EPS $1.46, consensus $1.29
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06:19 EDTJPMJPMorgan reports June net charge losses 2.84% vs. 3.05% last month
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July 14, 2014
17:28 EDTFLOFlowers Foods names Bradley Alexander as COO, executive VP
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15:24 EDTJPMNotable companies reporting before tomorrow's open
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14:40 EDTJPMJPMorgan July 56.5 straddle priced for 2.2% move into Q2
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14:04 EDTPENNNJ reports Atlantic City June gaming win $236M
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08:01 EDTJPMJP Morgan July volatility increases into Q2 and outlook
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July 11, 2014
07:20 EDTJPMBig banks seen losing reserve release cushion, Reuters says
Releasing loan-loss reserves has helped U.S. big banks weather a period of weak loan demand and lower fee income, but Q2 results from the banks may see less benefit from the practice as loss rates and reserves near their lower limits, said Reuters. Publicly traded companies in the space include Bank of America (BAC), Citigroup (C), Goldman Sachs (GS), JPMorgan (JPM), Morgan Stanley (MS), U.S. Bancorp (USB) and Wells Fargo (WFC). Reference Link
July 10, 2014
07:08 EDTCSECB keeps tight grip on banks with health check results, Reuters says
The European Central Bank is targeting to keep a tight grip banks in the final phase of a balance sheet health check in October, giving them only 48 hours to review the test results before publishing them, according to Reuters, citing two people familiar with the matter. The assessment will look into banks’ balance sheets and measure their ability to handle shock and stress. 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).
06:45 EDTCSCredit Suisse asks sentencing for aiding tax evasion be delayed, WSJ reports
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06:21 EDTJPMJPMorgan appoints Li as new China head, Reuters says
JPMorgan Chase (JPM) said it has appointed former UBS (UBS) banker David Li as the new head of its China division to replace top China banker Fang Fang who left the firm in March, according to Reuters, citing a statement from the U.S. company. Reference Link
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