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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 15, 2014
08:03 EDTWFCCBS reports results of CBS Outdoor exchange offer
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07:43 EDTCCitigroup successfully executing plan, says RBC Capital
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07:43 EDTGSGoldman Sachs says ranks first in M&A year-to-date
Goldman Sachs continued its leadership in investment banking, ranking first in worldwide announced and completed mergers and acquisitions for the year-to-date, the company said. The firm also ranked first in worldwide equity and equity-related offerings, common stock offerings and initial public offerings for the year-to-date.
07:41 EDTGSGoldman Sachs CEO says 'pleased' with results in context of operating conditions
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07:40 EDTGSGoldman Sachs reports Basel III Common Equity Tier 1 ratio 11.4% at June 30
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07:40 EDTGSGoldman Sachs reports book value, tangible book value both up 2%
Book value per common share and tangible book value per common share both increased approximately 2% during the quarter to $158.21 and $148.45, respectively. The firm continues to manage its liquidity and capital conservatively. The firmís global core excess liquidity was $170B as of June 30. In addition, the firmís Common Equity Tier 1 ratio was 11.4% as of June 30, under the Basel III Advanced approach. Total assets decreased $56B to $860B as of June 30, resulting from a firmwide initiative to reduce activities with lower returns, including certain client secured financing activities.
07:39 EDTGSGoldman Sachs reports Q2 Investment Banking revenues $1.78B
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07:38 EDTGSGoldman Sachs reports Q EPS $4.10, consensus $3.05
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07:37 EDTCAmerican Enterprise Institute holds a discussion
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07:34 EDTCCitigroup shares cheap on valuation, says UBS
UBS views Citigroup shares as cheap and does not expect them to trade below tangible book value indefinitely. The firm sees earnings stabilization, better than expected trading results, strong loan growth, and valuation as reasons to maintain its Buy rating and raise its price target on Citigroup shares to $61 from $60.
07:23 EDTJPMFortune to hold a conference
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07:08 EDTJPMJPMorgan CEO says saw encouraging signs toward end of Q2
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07:06 EDTJPMJPMorgan reports Q2 Basel III Common Equity Tier 1 ratio 9.8%
Reports Common Equity Tier 1 of $161B, or ratio of 9.8%. Reports Firm Supplementary Leverage Ratio of 5.4%. Reports "core loans" up 8% compared with the prior year. Consumer & Community Banking: average Consumer & Business Banking deposits up 9%; credit card sales volume up 12%; record client investment assets up 19%; record Business Banking loan originations up 46% Corporate & Investment Bank: maintained #1 ranking for Global Investment Banking fees with 8.2% wallet share YTD; assets under custody up 14%. Commercial Banking: period-end loan balances up 9%, driven by 14% growth in Commercial Real Estate; gross investment banking revenue with Commercial Banking clients up 25%. Asset Management: twenty-first consecutive quarter of positive net long-term client flows; record client assets up 15%; record loan balances up 17%.
07:05 EDTJPMJPMorgan reports headcount down 8,871 to 245,192
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07:04 EDTJPMJPMorgan reports Q2 provision for credit losses $692M
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07:02 EDTJPMJPMorgan says Q2 results include $500M after-tax, or 13c, legal expense
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07:01 EDTJPMJPMorgan reports Q2 adjusted EPS $1.46, consensus $1.29
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06:38 EDTGMGeneral Motors, VocallQ looking to develop voice-control systems, WSJ reports
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06:27 EDTGMAutomakers backing U.S.-EU trade deal, NY Times reports
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06:19 EDTJPMJPMorgan reports June net charge losses 2.84% vs. 3.05% last month
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