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Stock Market & Financial Investment News

News Breaks
January 30, 2013
14:12 EDTBAC, KCGKnight Capital looks to sell bond-trading, reverse-mortgage units, WSJ reports
Knight Capital (KCG) has hired Bank of America (BAC) Merrill Lynch to explore the sale of the company's bond-trading and reverse-mortgage units, according to a Wall Street Journal report that cites people close to the company. The report also says that Knight recently cut about 40 employees, mostly from its institutional sales and trading division. Reference Link
News For KCG;BAC From The Last 14 Days
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March 26, 2015
11:46 EDTBACBofA: Naming CEO Moynihan chairman followed 'probing independent review'
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08:17 EDTBACSEC Chairwoman proposes new 'dark pool' regulation, NY Post says
Securities and Exchange Commission Chairwoman Mary Jo White proposed new regulation Wednesday that would require high-frequency traders to register with the Financial Industry Regulatory Authority and provide the agency with a daily paper trail, reports the New York Post. The Post notes that there is a 60-day comment period before any SEC rule is finalized. 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
March 24, 2015
07:45 EDTBACMetLife CEO letter may be early sign of bank earnings headwinds, WSJ says
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March 23, 2015
09:56 EDTBACMassachusetts securities regulator fines Merrill Lynch $2.5M, Reuters reports
Massachusetts Secretary of the Commonwealth William Galvin has fined Bank of America's Merrill Lynch unit $2.5M for failing to supervise employees properly, Reuters reports. Merrill, Lynch, Pierce, Fenner & Smith was accused of failing to stick to its own compliance rules. Reference Link
March 20, 2015
10:36 EDTBACBank of America changes bylaws to allow some investors to nominate directors
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05:57 EDTBACBank of America faces pressure to defend structure, Financial Times reports
Bank of America will have to defend its current structure at its annual meeting in May after the SEC allowed a small shareholder the right to challenge the board on a break-up, reports the Financial Times. Bank of America's board could be under pressure to appoint a committee to examine a plan for divesting all non-core banking businesses if a proposal from Barlett Naylor of Public Citizen is adopted. Reference Link
March 19, 2015
11:53 EDTBACU.S. banks face headwinds in unloading oil loans, WSJ says
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06:30 EDTBACSEC says BofA must put investment bank spinoff to shareholder vote, Reuters says
The SEC has told Bank of America that it must allow shareholders to vote on whether the company will attempt to spin off its investment bank unit, reports Reuters, citing a decision by the Securities and Exchange Commission. A bank spokesperson said the company "will respond to the proposal in our proxy statement." Reference Link
March 18, 2015
07:18 EDTKCGWells Fargo to hold a forum
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07:10 EDTBACPlatts to hold a forum
11th Annual Steel Markets North America is being held in Chicago on March 17-18.
March 17, 2015
08:34 EDTBACBank of America reinstated with an Outperform at Raymond James
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March 16, 2015
10:22 EDTBACBank of America February default rate 2.98% vs. 2.93% last month
Reports February delinquency rate 1.86% vs. 1.83% last month.
March 13, 2015
16:03 EDTKCGKCG completes sale of KCG Hotspot, reduces headcount by 40 employees
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07:37 EDTKCGKCG Holdings reports Feb. trade volumes
KCG Holdings released trade volumes for the month of February. In Market Making, KCG averaged $30.8B dollar volume traded, 5.0B shares traded, and 4.0M trades per day in U.S. equities. In Global Execution Services: KCG electronic execution averaged 298.2M shares traded per day in U.S. equities. KCG Hotspot averaged $26.3B per day in notional foreign exchange dollar volume. KCG BondPoint averaged $151.5M per day in fixed income par value. As for the overall market conditions in February, consolidated U.S. equity volume averaged $275.8B in dollar volume and 6.8B shares traded per day. The realized volatility for the S&P 500 was 9.7. In February, there were 19 trading days in U.S. equities and fixed income, and 20 in foreign exchange.

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