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Stock Market & Financial Investment News

News Breaks
April 11, 2014
13:01 EDTZIGO, HRB, WFC, VJET, ZNGA, JPM, AME, BOFI, NQOn The Fly: Midday Wrap
Stocks on Wall Street were lower again at midday, with the Dow being weighed on by a disappointing earnings report from banking giant JPMorgan (JPM). The reports from JPMorgan and peer Wells Fargo (WFC) certainly seemed to have more of an impact on market sentiment than the better than expected University of Michigan consumer confidence reading. ECONOMIC EVENTS: In the U.S., the Producer Price Index jumped 0.5% in March, versus expectations for it to be up 0.1%. The University of Michigan consumer sentiment reading jumped to 82.6 in the preliminary April look, which was better than forecast and its highest reading since July. COMPANY NEWS: JPMorgan and Wells Fargo kicked off earnings season for the major banks, with their stocks moving in opposite directions to mirror their earnings results. Dow member JPMorgan slipped more than 3% after its earnings per share and revenue significantly trailed consensus estimates, while Wells shares gained about 1.5% after the bank's profits beat the consensus forecast. Both noted, however, that their capital levels continued to strengthen during the quarter and both gave optimistic views on their ability to continue to reduce expenses. MAJOR MOVERS: Among the notable gainers was BofI Holding (BOFI), which rose 11% near midday after the company last night announced a deal to acquire H&R Block's (HRB) bank assets. H&R Block shares were down over 2% near noon. Also higher was mobile game maker Zynga (ZNGA), whose shares gained almost 3% after the company announced a new CFO and the stock was upgraded to Equal Weight by analysts at Morgan Stanley. Another gainer, Zygo (ZIGO), jumped 31% after the company agreed to be acquired by Ametek (AME) for $19.25 per share in cash in a deal that represents an aggregate enterprise value of $280M for Zygo. Shares of Ametek also rose 1.5% following the deal announcement. Among the noteworthy losers was 3D-printer maker Voxeljet (VJET), which fell 16% after its 3-million-share secondary offering of common stock priced at $15.00. Also lower was NQ Mobile (NQ), a recent target of noted short-seller Carson Block, which dropped over 13% after its profit missed expectations and the company disclosed that it found accounting errors in its recent reports. INDEXES: Near midday, the Dow was down 81.88, or 0.51%, to 16,088.34, the Nasdaq was down 15.30, or 0.38%, to 4,038.80, and the S&P 500 was down 6.89, or 0.38%, to 1,826.19.
News For JPM;WFC;NQ;ZNGA;HRB;BOFI;VJET;ZIGO;AME From The Last 14 Days
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February 24, 2015
06:12 EDTJPMJPMorgan plans to charge fees for deposits from large clients, WSJ says
JPMorgan is planning to charge corporate clients, hedge funds, private-equity firms, and foreign banks for deposits due to regulatory rules that impose costs on holding money viewed as "prone to fleeing" during financial stress, reports the Wall Street Journal, citing an internal memo and people familiar with the plan. Clients will be asked to pay a fee or move funds to other products such as money-fund sweep accounts. Retail customers are unaffected. Reference Link
06:11 EDTBOFIBofI Holding announces $50M at-the-market common stock offering
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06:09 EDTBOFIBofI Holding files $50M at-the-market equity offering
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February 23, 2015
11:08 EDTJPMJPMorgan weekly volatility elevated into investor day
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09:59 EDTBOFIOn The Fly: Analyst Initiation Summary
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08:57 EDTJPMJPMorgan to host investor day
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06:21 EDTZNGAFacebook's shuttle drivers approve new union contract, WSJ reports
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06:10 EDTBOFIBofI Holding initiated with a Buy at DA Davidson
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February 20, 2015
10:01 EDTBOFIOn The Fly: Analyst Downgrade Summary
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08:52 EDTBOFIBofI Holding downgraded to Neutral from Buy at Sterne Agee
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06:04 EDTBOFIBofI Holding files $300M mixed securities shelf, $50M in common stock
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06:03 EDTJPMAnn Inc. working with JPMorgan on potential sale, Bloomberg reports
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February 19, 2015
17:58 EDTJPMAnn Inc. working with JPMorgan on potential sale, Bloomberg says
06:47 EDTWFC, JPMReport shows subprime consumer loans at pre-2007 levels, WSJ says
Equifax (EFX) has released a report stating nearly 40%, or 50M, of auto loans, credit cards, and personal loans during the first 11 months of 2014 were made to subprime customers, the highest levels since the 2007 financial crisis, reports the Wall Street Journal. LendingTree (TREE) Chief Marketing Officer Gabriel Dalporto attributes the growth to nonbank lenders under less regulatory scrutiny than large banks. Publicly traded companies in the space include Bank of America (BAC), Citi (C), Goldman Sachs (GS), JPMorgan (JPM), Morgan Stanley (MS), U.S. Bancorp (USB) and Wells Fargo (WFC). Reference Link
February 18, 2015
11:54 EDTVJETAnalyst says Barron's thesis on 3D printing stocks outdated
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07:21 EDTJPM, WFCJPMorgan, Citi top government report of riskiest banks, Reuters reports
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07:15 EDTJPMPeterson Institute for International Economics to hold a discussion
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06:57 EDTJPMJPMorgan may shrink interest-rate trading, other units, Bloomberg says
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February 17, 2015
11:14 EDTNQBlock sees 'pure speculation' as only reason investors hold NQ Mobile stock
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10:46 EDTJPMJPMorgan reports January net credit losses 2.53% vs. 2.56% last month
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