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Stock Market & Financial Investment News

News Breaks
November 8, 2012
12:40 EDTQCOM, JPM, BWC, MWW, PANL, MCDOn The Fly: Midday Wrap
Stocks on Wall Street were lower at midday, extending yesterday's slide after the futures trading had hinted a reversal might be ahead. The averages began the session slightly higher but failed to gain any upside momentum and eventually crossed into negative territory. When it was reported that EU finance ministers wanted to wait for a report from the Troika before committing bailout funds to Greece, the averages weakened further. Although each of the indices remain lower, trading has been range bound near the flat line... ECONOMIC EVENTS: In the U.S., weekly jobless claims fell by 8,000 to 355,000, which was lower than expected, but the data was impacted by Hurricane Sandy. The U.S. trade deficit unexpectedly 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 Bank of England also held its rates steady and halted expansion of its third round of quantitative easing. The Greek Parliament passed austerity measures, but reports indicated that euro zone finance ministers may delay its next trance of aid until they get a full report on the country’s compliance with the terms of its bailout... COMPANY NEWS: JPMorgan (JPM) shares briefly rallied but pulled back to be up just over 0.5% near midday after the company said it had been given Federal Reserve approval to buyback up to $3B in stock in the first quarter of 2013. The bank also disclosed that it had reached an 'agreement in principle' to settle certain probes from the Securities and Exchange Commission... McDonald’s (MCD) said comparable store sales fell 1.8% in October, which was the first monthly decline in nine years, and shares fell about 1.5%... MAJOR MOVERS: Among the notable gainers was Monster Worldwide (MWW), up over 16% following its stronger than expected earnings report and announcement of restructuring plans. Also higher were shares of Qualcomm (QCOM), which rose more than 6% as Deutsche Bank raised its price target on the stock to $74, citing the company's results and guidance. Among the noteworthy losers was Universal Display (PANL), down 18% after it lowered its FY12 revenue view, which prompted downgrades at Wedbush and Avondale but also defenses of the stock from JMP Securities and Cowen. Also declining was Babcock & Wilcox (BWC) down 11% after its earnings and revenue fell short of expectations... INDICES: Near 12:30 pm ET, the Dow was down 32.63, or 0.25%, to 12,900.10; the Nasdaq was down 16.27, or 0.55%, to 2,921.02; and the S&P 500 was down 5.09, or 0.37%, to 1,389.44.
News For JPM;MCD;MWW;QCOM;PANL;BWC From The Last 14 Days
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April 11, 2014
06:03 EDTJPMJPMorgan CEO Jamie Dimon hopes to minimize corporate cash, WSJ says
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April 10, 2014
16:11 EDTQCOMQualcomm initiated with a Strong Buy at ISI Group
Target $90.
15:25 EDTJPMNotable companies reporting before tomorrow's open
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13:33 EDTJPMEarnings Preview: Analysts mixed on JPMorgan into Q1 results
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13:08 EDTJPMJP Morgan April weekly 58 straddle priced for 2% move into Q1
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08:37 EDTJPMDimon admits JPMorgan had 'tin ear' when listening to regulators, Reuters says
JPMorgan CEO Jamie Dimon said the company had a “tin ear” when dealing with regulators before settling investigations into mortgage lapses and trading losses, according to Reuters, citing comments from Dimon in a letter to the bank's investors. Dimon said, "Our response generally was, ‘We know what we’re doing.' Well, we should have done more self-examination. We need to be better listeners.” Reference Link
07:43 EDTJPMJPMorgan (JPM) CEO says 2013 was a year of 'pain,' WSJ reports
J.P. Morgan CEO Jamie Dimon acknowledged in his annual shareholder letter that legal issues and new regulations faced by the bank made 2013 "the most painful, difficult and nerve-wracking experience" he has ever dealt with professionally, reported The Wall Street Journal. Reference Link
06:41 EDTJPMGo Daddy hires Morgan Stanley, JPMorgan for IPO, NY Times says
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06:35 EDTJPMMobile banking presents opportunity and risks for banks, WSJ reports
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April 9, 2014
07:51 EDTJPMJP Morgan April volatility up into Q1 and outlook
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07:50 EDTJPMCEO Dimon says U.S. banking system 'sound,' Europe lagging, Reuters says
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07:18 EDTJPMLevy Economics Institute to hold a conference
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06:35 EDTJPMRegulators increase leverage ratio requirement for large banks, NY Times says
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06:27 EDTJPMBig banks must add capital to comply with new rules, WSJ reports
A of January 1, 2018, the U.S.'s eight largest banks -- including Citigroup (C), JPMorgan (JPM) and Goldman Sachs (GS) -- must add up to $68B in extra capital to comply with a new rule intended to help firms weather losses during periods of market stress, the Wall Street Journal. The banks will be required to maintain well above the minimum levels of capital held against assets on their books. Banks must report the new levels next year. Reference Link
April 8, 2014
12:10 EDTQCOMIneda Systems says secures funding from Samsung, Qualcomm
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07:28 EDTJPM, QCOMSecurity Innovation Network to hold a forum
IT Security Entrepreneurs Forum: ITSEF 2014 is being held in Mountain View, California on April 8-9.
07:26 EDTJPMElsevier Business Intelligence to hold a conference
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06:31 EDTQCOMMicrosoft, Mediatek to push Windows tablet in white-box market, DigiTimes says
Microsoft (MSFT) has been aggressively trying to persuade Mediatek to push Windows-based tablets in China's white-box market, reports DigiTimes. According to sources from the upstream supply chain, there is a high chance for a partnership, which would lead to current smartphone chip partner Qualcomm (QCOM) to face strong pressure. Reference Link
April 7, 2014
19:57 EDTJPMFederal Reserve announces extension on some CLOs
The Federal Reserve Board announced that it intends to exercise its authority to give banking entities two additional one-year extensions to conform their ownership interests in and sponsorship of certain collateralized loan obligations, or CLOs, covered by section 619 of the Dodd-Frank Wall Street Reform and Consumer Protection Act, commonly referred to as the Volcker rule. Section 619 of the Dodd-Frank Act directed the board to adopt rules for the conformance period and the board previously extended the conformance period for all activities and investments by one year to July 21, 2015. To ensure effective compliance, the board intends to grant banking entities two additional one-year extensions, which together would extend until July 21, 2017, to conform their ownership interests in and sponsorship of CLOs to the statute. Publicly traded companies that may be impacted by the announcement include Bank of America (BAC), Citigroup (C), Goldman Sachs (GS), JPMorgan (JPM), Morgan Stanley (MS), U.S. Bancorp (USB) and Wells Fargo (WFC). Reference Link
08:56 EDTJPMJPMorgan, U.K.'S DFID, CDC to invest $20M combined in Novastar Ventures
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