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Stock Market & Financial Investment News

News Breaks
March 13, 2012
16:24 EDTSB, COOL, APO, WOLF, MDS, CCIX, VIP, CLNE, GEOY, FDS, 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 Fed’s 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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October 24, 2014
06:12 EDTSBSafe Bulkers downgraded to Hold from Buy at Evercore
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October 23, 2014
16:33 EDTCLNEClean Energy reports Q3 EPS (27c), consensus (28c)
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06:32 EDTJPMGovernment relaxing mortgage regulations, NY Times says
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October 22, 2014
13:50 EDTJPMJPMorgan executives aware of overseas hiring conerns, WSJ reports
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12:42 EDTJPMJPMorgan management to meet with MKM Partners
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06:46 EDTJPMJPMorgan head says illness has not changed his goals, Bloomberg says
JPMorgan CEO Jamie Dimon said that his throat cancer has not changed his goals to still work, even as he aims for retirement ambitions filled with teaching and humanitarianism, according to Bloomberg, citing comments from Dimon. Reference Link
06:19 EDTCLNEClean Energy to open new truck station, adds new fleet and fueling customers
Clean Energy will open its Carlisle, Penn., heavy-duty natural gas truck station to fuel LNG trucks for Giant/Martin's, the large grocery retailer. The company reports 43 new fleet customers that began fueling at Clean Energy’s nationwide network of natural gas stations in Q3. The company reports continued addition of natural gas fueling customers, including Salt Lake County, Utah and Islip, New York.
06:16 EDTJPMBNY Mellon's Hong Kong unit to launch wealth management strategy, FT says
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October 21, 2014
08:31 EDTJPMEU fines JPMorgan, UBS, Credit Suisse for cartel on derivatives
The European Commission has found that four international banks, RBS (RBS), UBS (UBS), JP Morgan (JPM) and Credit Suisse (CS), operated a cartel on bid-ask spreads of Swiss franc interest rate derivatives in the European Economic Area. The Commission imposed fines worth a total of EUR 32.36M. RBS received immunity from fines for revealing the existence of the cartel to the Commission. UBS and JPMorgan received reductions of their respective fines for cooperating with the investigation under the Commission's 2006 Leniency Notice. UBS was fined EUR 12.65M, JP Morgan fined EUR 10.53M and Credit Suisse was fined EUR 9.17M.
08:28 EDTJPMEuropean Commission fines JMorgan EUR 61.68M over Libor influencing
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08:18 EDTJPMBasel Committee accelerating work on leverage ratio, FT says
The Basel Committee on Banking Supervision will begin work on the calibration of the leverage ratio, a measure of bank capital seen as less vulnerable to manipulation, sooner than previously planned, which suggests the finished rule could be released as soon as 2015 or 2016, which is ahead of the previous target date of 2017, reported Financial Times, citing comments from the secretary-general of the committee, William Coen. Publicly traded large U.S. banks include Bank of America (BAC), Citigroup (C), Goldman Sachs (GS), JPMorgan (JPM), Morgan Stanley (MS), U.S. Bancorp (USB) and Wells Fargo (WFC). Publicly traded large EU 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). Reference Link
08:12 EDTJPMJPMorgan, UBS, Credit Suisse to be fined by EU over Libor rigging, Reuters says
JPMorgan (JPM), UBS (UBS) and Credit Suisse (CS) will be fined $115M collectively for their roles in rigging Swiss franc Libor rates, with JPMorgan's fine of $89M making up the lion's share of the penalty, said Reuters, citing a person familiar, who added that Royal Bank of Scotland (RBS) would not be penalized for its own role since it alerted the European Commission to the issue. Reference Link
October 20, 2014
09:31 EDTJPMRobinhood.org to hold conference
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07:21 EDTJPMFederal Reserve Bank of New York and Boston to hold a workshop
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05:32 EDTVIPVimpelCom subsidiary sells Burundi, Central African Republic operations for $65M
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October 17, 2014
16:55 EDTJPMStocks end volatile week lower amid oil price plunge
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10:00 EDTCLNEOn The Fly: Analyst Initiation Summary
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09:06 EDTJPMJPMorgan and PNC Financial weakness a buying opportunity, say Morgan Stanley
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07:00 EDTJPMJPMorgan in talks to build corporate campus in Manhattan, NY Times reports
JPMorgan Chase (JPM) is in negotiations with New York state and city officials over a potential $6.5B deal that would result in the construction of a corporate campus with two high rises on the West Side of Manhattan, the Wall Street Journal reports. Reference Link
06:09 EDTCLNEClean Energy initiated with a Hold at MLV & Co.
Target $8.
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