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Stock Market & Financial Investment News

News Breaks
November 8, 2012
17:02 EDTMWW, JPM, PRSS, ITMN, PANL, MCDOn The Fly: Closing Wrap
Stocks on Wall Street were sharply lower for the second consecutive day, as concern over the fiscal cliff and uncertainty in Europe continues to loom over investors. Stocks opened the day slightly higher, but quickly moved into negative territory where they stayed for the rest of the trading session. Among the notable companies reporting earnings after the bell today are Walt Disney (DIS) and Nordstrom (JWN)... ECONOMIC EVENTS: Domestically, weekly jobless claims fell by 8,000 to 355,000, which was lower than expected, though the data was impacted by Hurricane Sandy. The U.S. trade deficit narrowed in September to $41.5B, as exports climbed 3.1 % and imports rose 1.5% as well. In Europe, the European Central Bank held its main interest rate at 0.75% and reiterated its willingness to make bond purchases to aid Spain, though the nation continues to resist asking for a bailout. The Greek Parliament passed austerity measures, but reports indicated that euro zone finance ministers may delay its next tranche of aid until they get a full report on the country’s compliance with the terms of its bailout... COMPANY NEWS: JPMorgan (JPM) announced that it has been given Federal Reserve approval to buyback up to $3B in stock in the first quarter of 2013, and the bank also disclosed that it had reached an 'agreement in principle' to settle certain probes from the Securities and Exchange Commission. Shares of JPMorgan fell slightly, declining 8c, or 0.2%, to $40.40... Fellow Dow member McDonald’s (MCD) said comparable store sales suffered their first monthly decline in nine years, falling 1.8% in October. Its shares were among the index's worst performers, falling $1.73, or 1.99%, to $85.13... MAJOR MOVERS: Among the notable gainers was InterMune (ITMN), up $1.36, or 16.67%, to $9.52 after the company's Q3 earnings beat consensus estimates and the stock was upgraded to Buy at Canaccord. Also higher was Monster Worldwide (MWW), up 58c, or 10.16%, to $6.29 following a stronger than expected earnings report and announcement of restructuring plans. Among the noteworthy losers was Universal Display (PANL), down $5.08, or 18.03%, to $23.10 after the company lowered its FY12 revenue view, and the stock received downgrades at Wedbush and Avondale, though defenses of the stock came out of JMP Securities and Cowen. Also lower were shares of CafePress (PRSS), down $1.33, or 21.28%, to $4.92 after the company reported disappointing earnings and guidance. INDICES: The Dow was down 121.41, or 0.94%, to 12,811.32; the Nasdaq was down 41.71, or 1.42%, to 2,895.58; and the S&P 500 was down 17.02, or 1.22%, to 1,377.51.
News For JPM;MCD;ITMN;MWW;PANL;PRSS From The Last 14 Days
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November 12, 2014
08:57 EDTJPMBarclays excluded from forex settlement due to issues with NYDFS, Reuters says
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08:13 EDTJPMBoston Biotech to hold a conference
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07:28 EDTJPMBofA/Merrill to hold a conference
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07:02 EDTJPMJPMorgan makes changes in response to foreign exchange probe, Reuters says
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06:12 EDTJPMCFTC fines five banks $1.4B for manipulation of FX benchmark rates
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06:05 EDTJPMFCA fines five banks $1.7B over FX trading operations
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06:04 EDTJPMJPMorgan downgraded to Market Perform from Outperform at Bernstein
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November 11, 2014
14:30 EDTJPMBanks to be hit with billions in fines for currency manipulation, Telegraph says
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10:00 EDTJPMOn The Fly: Analyst Downgrade Summary
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06:39 EDTJPMJPMorgan downgraded on valuation at Keefe Bruyette
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05:56 EDTMCDMcDonald's recalls Hello Kitty themed whistles due to choking hazards
McDonald's is recalling about 2.3M “Hello Kitty Birthday Lollipop” Whistles in the U.S. and about 200,000 in Canada. The CPSC says components inside of the whistle can detach, posing choking and aspiration hazards to young children. McDonald’s has received two reports of children who coughed out pieces of the whistle that they had sucked into their mouths, including one child who received medical attention. Reference Link
05:47 EDTJPMJPMorgan downgraded to Market Perform from Outperform at Keefe Bruyette
Keefe Bruyette downgraded JPMorgan to Market Perform with a $64 price target.
November 10, 2014
15:17 EDTJPMCFPB may require added disclosures on prepaid cards, WSJ says
The Consumer Financial Protection Bureau is expected to propose new rules later this week that will require more disclosure for prepaid debit cards and cracking down on allowing consumers to spend more money on the cards than they have, according to The Wall Street Journal, citing people familiar with the matter. The rules come as traditional financial institutions, such as JPMorgan (JPM) and American Express (AXP) have moved into the business and the industry’s biggest players don’t allow overdrafts so it is unclear whether the new rules will dent industry profits, the report said. Green Dot (GDOT) also does not permit overdrafts and Visa (V) recently excluded overdraft abilities in guidelines for its prepaid cards, the report added. Reference Link
08:00 EDTMCDMcDonald's reports October APMEA comparable sales down 4.2%
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07:59 EDTMCDMcDonald's reports October Europe comparable sales down 0.7%
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07:59 EDTMCDMcDonald's reports October US comparable sales down 1%
The company said, "To restore business momentum, the U.S. is revamping its marketing approach, simplifying the menu and creating a new organizational structure. These initiatives are designed to better address consumer preferences and the competitive dynamics of the local markets in which we compete by bringing decision making closer to our customers."
07:58 EDTMCDMcDonald's reports October global comparable sales down 0.5%
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06:46 EDTJPMRegulators set new capital buffer rule for banks, Reuters reports
Global banks should have buffers of bonds or equity worth 16%-20% of their risk-weighted assets, beginning in January 2019, The Financial Stability Board decided, according to Reuters. The board said the buffer would prevent the need for government bailouts, the news service explained. Publicly traded global banks include Bank of America (BAC), Citigroup (C), Goldman Sachs (GS), JPMorgan (JPM), Morgan Stanley (MS), U.S. Bancorp (USB) Wells Fargo (WFC), Banco Santander (SAN), Barclays (BCS), Credit Suisse (CS), Deutsche Bank (DB), HSBC (HSBC), ING Groep (ING), Lloyds Banking (LYG), RBS (RBS) and UBS (UBS). Reference Link
06:18 EDTJPMUBS to settle misconduct allegations at precious metals trading unit, FT reports
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November 7, 2014
10:30 EDTJPMJPMorgan eliminates 3K additional retail bank division staff, Reuters says
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