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March 13, 2012
16:24 EDTAPO, SB, COOL, CCIX, GEOY, WOLF, VIP, FDS, MDS, CLNE, JPMOn The Fly: Closing Wrap
Stocks on Wall Street were higher, with the Dow closing well over the 13K level and the Nasdaq taking and holding the 3K mark. Stock futures were higher in pre-market trading leading to a higher open for the broader market. The averages waffled for the first 30 minutes of trading but broke out of their range following a slightly better than expected wholesale inventories report. The market spurted to fresh recovery highs and along the way the Dow eclipsed 13,000 and the Nasdaq moved past 3,000. The Fedís FOMC met and kept interest rates unchanged and said monetary policy would remain accommodative through at least late 2014. The major indices did not move much after the FOMC comments, which were largely in-line with expectations, but a dividend increase and expanded stock buyback announcement from JP Morgan (JPM) provided another shot in the arm, powering the market to close at session highs... ECONOMIC EVENTS: Domestically, February retail sales increased 1.1% overall, in line with expectations. The core reading, which excludes autos and gas, rose 0.6%, versus the expected increase of 0.5%. Business inventories rose 0.7% in January, versus the expected increase of 0.5%. The Fed kept its benchmark rate target unchanged, as expected... MARKET NEWS: JP Morgan approved a new $15B stock buyback program and increased its dividend to 30c from 25c. After JP Morgan's "pre-announcment" of sorts, the Fed said it would report on the results of its bank stress tests at 4:30 pm ET today... Among companies reporting earnings, advancers included FactSet (FDS) and GeoEye (GEOY), while Clean Energy Fuels (CLNE), VimpelCom (VIP), and Coleman Cable (CCIX) were among the decliners... MAJOR MOVERS: Among the notable gainers were Midas (MDS), up $2.45, or 27.25%, to $11.44, on news it will be acquired by TBC Corporation for $11.50 per share, and Great Wolf (WOLF), up $1.13, or 26.97%, to $5.32, which closed above the $5 per share "take private" offer it received from Apollo Global Management (APO). Noteworthy losers included Majesco (COOL), down 41c, or 13.80%, to $2.56, following its disappointing earnings and guidance, and Safe Bulkers (SB), down 65c, or 9.09%, to $6.50, after pricing its 5M share secondary offering at $6.50... INDICES: The Dow added 217.97, or 1.68%, to 13,177.68; the Nasdaq rose 56.22, or 1.88%, to 3,039.88; and the S&P 500 gained 24.87, or 1.81%, to 1,395.96.
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October 2, 2015
13:26 EDTJPMBanks, brokers slide as weak jobs report pushes out rate hike
Shares of banks and brokers are sliding after a weak jobs report pushed out the probability of near-term rate hike. WHAT'S NEW: Friday morning, the Labor Department reported that the U.S. economy added only 142,000 jobs in September compared to economists expectations of 203,000. The Labor Department's September jobs report strengthened the argument that the Fed will not raise rates in October, and even lessened the probability of a December rate hike. An increase in interest rates would let banks and brokers benefit from higher spreads on deposits. PRICE ACTION: Shares of Bank of America (BAC), Citigroup (C), Goldman Sachs (GS), JPMorgan (JPM), Morgan Stanley (MS), U.S. Bancorp (USB), and Wells Fargo (WFC) are all declining despite a rebound in the broad market. OTHERS TO WATCH: Shares of online brokers, including TD Ameritrade (AMTD), Charles Schwab (SCHW), E*TRADE (ETFC), and Interactive Brokers (IBKR) are also lower in afternoon trading.
11:29 EDTJPMStocks with call strike movement; JPM BAC
JPMorgan (JPM) December 65 call option implied volatility increased 10% to 26, Bank of America (BAC) February 17 call option implied volatility increased 8% to 30 according to iVolatility.
08:01 EDTCOOLMajesco names Barry Honig CEO
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October 1, 2015
19:15 EDTJPMJPMorgan preparing $18B bid for U.K. mortgage pool, Bloomberg says
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19:10 EDTJPMJPMorgan to pay $595M in credit-default swap suit, Bloomberg says
JPMorgan (JPM) is set to pay $595M to settle allegations that major banks as well as Markit (MRKT) colluded to control information in the credit-default swaps market, reports Bloomberg, citing people briefed on the matter. Morgan Stanley (MS), Barclays (BCS), and Goldman Sachs (GS) will pay a respective $230M, $175M, and $164M, sources told Bloomberg. Reference Link
17:47 EDTJPMJudge rules in favor of JPMorgan in $8.6B Lehman fight, WSJ says
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10:52 EDTAPOLand and Buildings says more changes needed to enchance New York REIT value
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08:51 EDTJPMOversold bank stocks due for a bounce, says Baird
Following the worst quarter for the S&P 500 and for the KBW Nasdaq Bank Index since the third quarter of 2011, Baird analyst David George contends that "broadly oversold" bank stocks are due for a bounce. The analyst believes that even in-line results should help improve the bearish sentiment on the sector and could see bouncebacks for defensive names like JPMorgan (JPM), PNC (PNC) and BB&T (BBT) as well as for higher-beta names like Bank of America (BAC) and Capital One (COF).
08:00 EDTJPMSecurity Traders Association to hold a conference
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September 30, 2015
18:25 EDTAPOMidCap to acquire Mubadala GE Capital loan portfolio
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07:46 EDTJPMFed liftoff may be more turbulent for banks than expected, WSJ says
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07:33 EDTJPMJPMorgan must face 'London Whale' class action suit, Reuters reports
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07:18 EDTJPMSecurities Industry and Financial Markets Association to hold a forum
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September 29, 2015
09:22 EDTJPMMorningstar to hold a conference
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September 24, 2015
07:10 EDTJPMBanks clash with regulators over energy lending, WSJ reports
Banks are fighting with regulators over loan reviews that might compress the flow of net credit to the oil patch, the Wall Street Journal reports. The disagreement is focused on the narrow issue of loans secured by oil and gas companies' reserves, but it highlights the point of how postcrisis regulation of the financial industry impacts sectors outside of Wall Street, the report says. Caught in between banks and regulators are the small and medium exploration and production companies that rely on credit lines using their energy reserves as collateral, 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
September 23, 2015
16:00 EDTJPMOptions Update; September 23, 2015
iPath S&P 500 VIX Short-Term Futures down 53c to 23.81 Option volume leaders: AAPL NFLX BAC FB BABA DOW RIG MU FCX PBR XOM JPM
September 22, 2015
16:00 EDTJPMOptions Update; September 22, 2015
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07:08 EDTFDSFactSet acquires Portware
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07:07 EDTFDSFactSet sees Q1 EPS $1.46-$1.48, consensus $1.49
Sees Q1 revenue $265M-$269M, consensus $265.91M. Operating margin for Q1 is expected to range between 33.0% and 34.0%. If the U.S. Federal R&D tax credit is re-enacted by November 30, 2015, diluted EPS would range between $1.51-$1.53. FactSet would also recognize an income tax benefit of 14c per share if the R&D tax credit could be retroactively applied to previous periods.
07:05 EDTFDSFactSet reports Q4 adjusted EPS $1.48, consensus $1.47
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