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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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August 20, 2014
08:38 EDTBACRevolution Lighting enters loan, security agreement with BofA
Revolution Lighting (RVLT) announced that it has entered into a three year loan and security agreement with Bank of America (BAC). The agreement allows Revolution Lighting to borrow up to $25M on a revolving basis. Borrowings under the agreement are determined on specified percentages of eligible receivables and inventory, and bear interest either on the base rate plus specified margins or at LIBOR plus specified margins, at the election of Revolution Lighting. The loan provides Revolution Lighting with favorable interest rates with an initial interest rate of 3%. The agreement contains customary covenants and restrictions typical of these agreements.
06:17 EDTCCitigroup looks to sell Japanese retail banking unit, Reuters says
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06:02 EDTWFCWells Fargo wins approval for $62.5M settlement, Charlotte Observer says
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August 19, 2014
13:42 EDTWFCWells Fargo looks to bulk up asset-management business, WSJ says
Wells Fargo is looking to increase the size of its asset-management business to over $1T over the next decade by making acquisitions of smaller asset managers and more aggressive sales to larger investors, says the Wall Street Journal. Reference Link
13:08 EDTCCitigroup tells appeals court Agentina banking license at risk, Reuters reports
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12:14 EDTCCitigroup considers selling Japan retail-banking unit, WSJ reports
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11:05 EDTJNPRImperva seen as takeover candidate under new CEO
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09:41 EDTGMGM recalls Silverados, Sierras equipped with auxiliary battery
GM is recalling certain model year 2007-2011 Chevrolet Silverado HD 2500/3500 trucks manufactured January 18, 2007, to June 22, 2011, and GMC Sierra HD 2500/3500 trucks manufactured January 22, 2007, to June 21, 2011, and equipped with an auxiliary battery. Owners may unknowingly draw too much current through the vehicle's trailer harness resulting in the melting of fusible link for the auxiliary battery. If the fusible link melts it may come into contact with adjacent components, damage the electrical center cover, the nearby wiring harness conduit and other vehicle components, increasing the risk of a fire. GM will notify owners and dealers will replace the jumper harness with one that includes a 40 amp inline fuse, and provide the owner with supplemental Owner Manual information, free of charge. The manufacturer has not yet provided a notification schedule. Reference Link
09:38 EDTGMGM recalls cars equipped with Calix oil pan, block heater
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08:42 EDTJNPRImperva new CEO has history of selling companies, says Sterne Agee
After Imperva (IMPV) appointed Anthony Bettencourt as its new CEO, Sterne Agee says that he has a history of selling companies. The firm believes that Imperva "would likely be an acquisition candidate" for a number of large tech companies such as Cisco (CSC), Juniper (JNPR), HP (HPQ), IBM (IBM), Check Point (CHKP), or F5 (FFIV). Sterne Agee believes that Imperva could be acquired for as much as $45 per share, and it keeps a Buy rating on the stock.
08:02 EDTGMBorgWarner supplies solenoid technology for General Motors' GF6
BorgWarner (BWA) supplies its mini direct-acting variable force solenoid for General Motors' (GM) global front-wheel drive 6-speed automatic transmission program, or GF6.
06:34 EDTGSGoldman abandons effort to toss out $1B Gaddafi suit, Telegraph says
Goldman Sachs (GS) abandoned its effort to toss out a London court suit from the Libyan Investment Authority who alleged that the bank lost over $1B worth of funds during the final years of Muammar Gaddafi's reign as dictator, according to the Telegraph, citing comments from the LIA. The LIA sued both Goldman and Societe Generale (SCGLY) over claims that the banks' London divisions took-in exorbitant fees while losing money in derivative trades. Reference Link
06:20 EDTBACBofA COO transfers, senior manager assumes role, Bloomberg says
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August 18, 2014
16:00 EDTCOptions Update; August 18, 2014
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13:01 EDTGMFord, Chevrolet launching incentives earlier than usual, Autmotive News says
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10:32 EDTGSProcter & Gamble likely to divest Duracell, Braun, Reuters reports
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09:35 EDTC, WFCActive equity options trading on open
Active equity options trading on open according to Track Data: AAPL AMZN DG TSLA GILD FB ABX WFC C
09:20 EDTGSDeutsche Bank appoints Shannon Americas Chief Information Officer
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07:37 EDTGMReport says Russia may bar car imports if new sanctions enacted, Reuters says
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06:47 EDTBAC, C, MSU.S. banks consider Ireland fitting spot for EU divisions, FT says
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