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Stock Market & Financial Investment News

News Breaks
January 17, 2014
16:49 EDTJPM, GS, BAC, WFC, C, MS, JNPR, GMAverages 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 10, 2014
09:20 EDTMSMorgan Stanley, Lazard recommended at Bernstein
Bernstein recommends Morgan Stanley (MS) and Lazard (LAZ) for their exposure to high margin investment banking. The firm also likes Morgan Stanley because of its exposure to wealth management.
06:56 EDTBACBank of America July volatility elevated into Q2 and capital outlook
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06:52 EDTGSGoldman gains energy marketer Golender from Barclays, Reuters says
Goldman Sachs (GS) appointed oil marketer Roy Golender as vice president of energy sales from Barclays (BCS), according to Reuters citing a company spokesman. Golender's LinkedIn profile says that while at Barclays Golender spent four years in commodity derivatives sales. Reference Link
06:29 EDTBACBank of America requests 5c dividend reapproval, WSJ reports
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06:28 EDTWFCOptions expected to be active
Options expected to be active: LL PBPB VNO FDO WFC COST ZUMZ UAL BA
06:24 EDTGMGeneral Motors to replace faulty ignition switch kits, Detroit News says
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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
06:20 EDTCCalifornia, New York among states to share in Citigroup settlement, LA Times say
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06:16 EDTBACHolder refuses meeting with BofA head, Reuters says
Attorney General Eric Holder has formally decided to not meet with Bank of America CEO Brian Moynihan to discuss a multibillion-dollar agreement, as talks to resolve investigations into shoddy mortgage securities sold by the firm and its divisions are delayed, according to Reuters, citing people familiar with the matter. Sources said that no discussions between the bank and the U.S. Department of Justice have occurred since the second week in June. Reference Link
06:06 EDTGMGM recalling Saab convertibles due to safety defect, Detroit News reports
Around 28,790 Saab convertibles from the 2004-2011 model years are being recalled by General Motors, as the driver's seat belt retractor can break, the Detroit News reports. Reference Link
July 9, 2014
09:47 EDTGMNew car sales in India rose 15% in June, WSJ reports
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09:43 EDTGMGeneral Motors, Manchester United debut sponsored shirt for 2014-15 season
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09:21 EDTGMDelphi CEO to testify about GM ignition switches, Automotive News says
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07:52 EDTGMJapan leading drive for fuel cell vehicles, FT says
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07:36 EDTWFCWells Fargo July weekly volatility increases into Q2 and outlook
Wells Fargo July weekly call option implied volatility is at 39, July is at 20, August is at 15, October is at 14; compared to its 26-week average of 16 according to Track Data, suggesting large near term price movement into the expected release of Q2 results on July 11.
06:51 EDTC, BACBofA also in talks with DOJ to settle civil probes over mortgage unit, WSJ says
In addition to the talks with Citigroup (C), the Department of Justice has also has been in talks with Bank of America (BAC) to resolve civil probes over its mortgage business, the Wall Street Journal reports. Reference Link
06:37 EDTCCitigroup close to settling mortgage probe for $7B, NY Times reports
Citigroup is nearing a deal with the Justice Department, under which the bank would pay about $7B to settle a civil probe of mortgage investments it sold, according to The New York Times. Dow Jones yesterday reported that Citigroup would pay about $4B to settle the probe. Reference Link
06:28 EDTGMGM Korea employees approve strike amid stalled wage discussions, Reuters says
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06:25 EDTGSGoldman exec says Japan M&A 'breaking' barriers, Bloomberg says
Goldman Sachs head of mergers and acquisitions in Japan, Yoshihiko Yano, said that the country is "breaking" M&A boundaries, according to Bloomberg, citing comments from Yano. Yano said, "We have to be more creative and steer away from biases and assumptions like ‘This company will normally do this,’ or ‘This type of move may happen in this industry.’” Reference Link
06:17 EDTGMGM CEO, general counsel to testify before Senate subcommittee, WSJ reports
Mary Barry, the CEO of General Motors (GM), and the company's general counsel, Mike Millikin, have been called to testify next week before a Senate subcommittee looking at why it took the automaker almost 11 years to recall older cars equipped with a faulty ignition switch, the Wall Street Journal reports. Delphi Automotive (DLPH) CEO Rodney O'Neal and Kenneth Feinberg have also been called as witnesses. Reference Link
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