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Stock Market & Financial Investment News

News Breaks
March 13, 2012
16:24 EDTSB, COOL, APO, WOLF, VIP, FDS, MDS, CLNE, JPM, CCIX, GEOYOn 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.
News For JPM;FDS;GEOY;CLNE;VIP;CCIX;MDS;WOLF;APO;COOL;SB From The Last 14 Days
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February 24, 2015
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
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
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
February 18, 2015
10:21 EDTAPOHigh option volume stocks
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09:37 EDTAPOOption volume leaders on open
Option volume leaders: AAPL TSLA TWTR CELG APO NFLX AXP APA LNKD C GILD according to Track Data.
07:21 EDTJPMJPMorgan, Citi top government report of riskiest banks, Reuters reports
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07:15 EDTJPMPeterson Institute for International Economics to hold a discussion
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06:57 EDTJPMJPMorgan may shrink interest-rate trading, other units, Bloomberg says
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February 17, 2015
10:46 EDTJPMJPMorgan reports January net credit losses 2.53% vs. 2.56% last month
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