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Stock Market & Financial Investment News

News Breaks
January 17, 2014
16:49 EDTJNPR, WFC, JPM, MS, BAC, GM, C, GSAverages finish the week mixed
Stocks on Wall Street finished the week mixed after lackluster U.S. economic data was paired with mixed results in the first full week of corporate earnings season. MACRO NEWS: U.S. retail sales rose 0.2% in December versus the same period a year earlier, slightly above consensus estimates for sales to come in flat, but lower than the increase of 0.4% in the prior month... The preliminary January reading of the University of Michigan consumer sentiment index came in a little light at 80.4, shy of expectations for an 83.5 reading... Comments by Fed President Dennis Lockhart may have also put a damper on the market, as Lockhart in a speech on Monday said he supported additional tapering by the central bank... European industrial production data was more positive, with production surging 1.8% in November, the largest increase in nearly four years. COMPANY NEWS: IT infrastructure company Juniper Networks (JNPR) rallied on Monday after activist investor Elliott Management disclosed a presentation that outlined initiatives to unlock shareholder value... A number of major U.S. banks reported quarterly results this week, with JPMorgan (JPM), Goldman Sachs (GS), Wells Fargo (WFC), and Bank of America (BAC) all reporting adjusted bottom-line results that topped estimates, while Citigroup (C) and Morgan Stanley (MS) reported weaker than expected results... General Motors (GM) made headlines with several pieces of news, as the company declared its first dividend since emerging from bankruptcy, appointed a new CFO, and said it expects its earnings before interest and tax to be "modestly improved" in 2014. The carmaker also said it expects restructuring costs this year of $1.1B, and shares of the company fell more than 3% for the week. INDEXES: The Dow gained about 0.1% to close at 16,458.56; the S&P 500 fell about 0.2% to close at 1,838.70; the Nasdaq gained about 0.5% to close at 4,197.58.
News For JPM;GS;BAC;WFC;C;MS;JNPR;GM From The Last 14 Days
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July 16, 2015
09:39 EDTGSGoldman Sachs says FICC faced 'difficult operating environment' in Q2
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09:35 EDTC, BACActive equity options trading on open
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09:08 EDTC, GSOn The Fly: Pre-market Movers
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08:58 EDTCCiti says 'tracking well' to 2015 financial targets
Citigroup says "tracking well" to its 2015 financial targets, with modest revenue growth and positive operating leverage in Citicorp; says Citicorp had efficiency ratio of 55%, Citigroup ROA of 103 bps in 1H15. Says Q2 results show continued progress in challenging environment. Says gaining wallet share, improving efficiency of core franchise, winding down non-core assets, maintaining balance sheet discipline, utilizing deferred tax assets. Comments from slides that will be presented on the Q2 earnings conference call.
08:17 EDTMSMorgan Stanley July weekly volatility elevated into Q2 and outlook
Morgan Stanley July weekly call option implied volatility is at 25, August is at 21, October is at 20 compared to its 52-week range of 16 to 34, suggesting large near term price movement into the expected release of Q2 results on July 20.
08:06 EDTBACBank of America expense savings run-rate sustainable, says Morgan Stanley
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08:04 EDTCCiti reports Q2 Citicorp revenue $17.8B, up 2% from a year ago
Reports Q2 Global Consumer Banking revenue $8.5B. ICG revenues increased 6% from the prior year period to $8.9B. Citi Holdings revenues of $1.7B in the second quarter 2015 included CVA/DVA of $9M, compared to negative $1M in the prior year period.
08:03 EDTCCiti reports book value per share of $68.27 at end Q2
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08:02 EDTCCiti CEO says Q2 results show 'very balanced performance' across business lines
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08:01 EDTCCiti reports Q2 common equity tier 1 capital ratio 11.4%
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08:00 EDTCCiti reports Q2 EPS ex-CVA/DVA $1.45, consensus $1.34
Reports Q2 revenue $19.5B, consensus $19.11B. CVA/DVA was $312M, or $196M, in the second quarter 2015, compared to negative $33M in the prior year period. Second quarter 2014 results also included the impact of a $3.8B charge, or $3.7 billion after-tax, to settle legacy RMBS and CDO-related claims.5 Excluding CVA/DVA, revenues were $19.2B, down 2% from the prior year period. Excluding CVA/DVA and the impact of the mortgage settlement in the prior year period, earnings were $1.45 per diluted share, up 17% from prior year earnings of $1.24 per diluted share. Including CVA/DVA, EPS was $1.51.
07:42 EDTGSGoldman says recorded $1.45B in provisions for litigation, regulatory matters
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07:41 EDTGSGoldman Sachs reports Q2 investment management revenue up 14% to $1.65B
Net revenues in Investment Management were $1.65B for the second quarter of 2015, 14% higher than the second quarter of 2014 and 4% higher than the first quarter of 2015. The increase in net revenues compared with the second quarter of 2014 was due to significantly higher incentive fees, as well as higher management and other fees and transaction revenues. During the quarter, total assets under supervision increased $5 billion to $1.18T. Long-term assets under supervision increased $11B, including net inflows of $14B and net market depreciation of $3B, both primarily in fixed income assets. Liquidity products decreased $6B.
07:40 EDTGSGoldman Sachs reports Q2 institutional client services revenue $3.6B
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07:39 EDTGSGoldman Sachs reports Q2 investment banking revenue up 13% to $2.02B
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07:38 EDTGSGoldman Sachs CEO says 'pleased' with performance in Q2
"We are pleased with our performance for the quarter,” said Lloyd C. Blankfein, Chairman and CEO. “While uncertainty in the EU weighed on investors’ level of conviction, many of our businesses continued to benefit from generally improving economic conditions and healthy client activity.”
07:38 EDTGSGoldman Sachs reports Q2 EPS $4.75 ex-items, consensus $3.89
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07:37 EDTGSGoldman Sachs reports Common Equity Tier 1 ratio 11.8% at June 30
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07:36 EDTGSGoldman Sachs reports Q2 EPS $1.98, consensus $3.89
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07:30 EDTGMGeneral Motors downgraded to Equal Weight from Overweight at Barclays
Barclays downgraded the U.S. Autos and Auto Parts sector to Negative from Neutral and cut its rating on General Motors (GM) to Equal Weight from Overweight. The firm sees further sector underperformance as China car sales continue to disappoint and Chinese production goes negative against a peak in the U.S. auto industry and a slow recovery in Europe. The firm sees few near-term catalysts for General Motors given is larger exposure to China and little that will change its perception by investors as a "value trap." Barclays lowered General Motors' price target to $36 from $44.
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