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Stock Market & Financial Investment News

News Breaks
March 12, 2014
07:08 EDTKING, JPM, CS, BACKing Digital sets terms for IPO, could be valued at over $7B, Forbes reports
"Candy Crush Saga" maker King Digital has set terms for an IPO and could be valued at over $7B, Forbes reports. The game publisher plans to offer 22.2M shares at $21-$24 per share. JPMorgan (JPM), BofA Merrill Lynch (BAC) and Credit Suisse (CS) will serve has lead underwriters on the deal. Reference Link
News For KING;JPM;CS;BAC From The Last 14 Days
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September 29, 2014
07:26 EDTCSInforma Business Information to hold a conference
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06:23 EDTJPMCitigroup, JPMorgan meet with FCA to settle forex rigging probe, WSJ reports
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September 26, 2014
16:01 EDTBACOptions Update; September 26, 2014
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14:29 EDTCSAlibaba awards IPO banks $50M in incentive fees, Bloomberg says
According to people with knowledge of the matter, Alibaba (BABA) gave Credit Suisse (CS) and Morgan Stanley (MS) approximately half of the incentive fees that were awarded to the six banks responsible for overseeing its IPO, Bloomberg reports. Reference Link
September 25, 2014
16:00 EDTBACOptions Update; September 25, 2014
iPath S&P 500 VIX Short-Term Futures up 2.09 to 30.38. Option volume leaders: AAPL TSLA NFLX BAC TWTR AMZN BP PBR GILD DOW according to Track Data.
15:10 EDTBAC, JPMHolder resignation as AG positive for banks, says Rafferty Capital
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08:00 EDTBACBuy American Express and Bank of America into earnings, says Morgan Stanley
Morgan Stanley says to buy American Express (AXP) and Bank of America (BAC) going into Q3 earnings. The firm expects American Express to report accelerated credit card spending growth and views valuation as compelling and views Bank of America is a play on rising rates and improving expenses.
September 24, 2014
15:04 EDTBAC, JPM, CSGoldman, other banks near deal to buy Bloomberg messaging alternative, WSJ says
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September 23, 2014
15:33 EDTBACBofA announces $10B Catalytic Finance Initiaive, to committ $1B in capital
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10:33 EDTJPMWebster Financial to acquire HSA business from JPMorgan
Webster Financial (WBS), the holding company for Webster Bank, N.A., said that it had signed a definitive agreement to acquire the health savings account, or HSA, business from JPMorgan Chase Bank, N.A., a subsidiary of JPMorgan Chase (JPM). Under the agreement, approximately 700,000 accounts, including an estimated $1.3B in deposits and $175M in investments, will migrate from JPMorgan Chase Bank to HSA Bank, a division of Webster Bank, over a transitional period. In the near term, Webster will use approximately 60% of the deposits to pay down short-term borrowings with the remaining funds invested in securities. Transaction consideration will be all cash; the purchase price was not disclosed. Webster expects the transaction to be modestly accretive to earnings per share and return on equity in the first year following closing. The transaction is expected to improve Webster's loan-to-deposit ratio to approximately 80% from 87% pro forma at June 30. The company estimates the transaction will have tangible book value dilution of approximately 3%. JPMorgan Chase has advised Webster that the transaction is not expected to have a material impact on JPMorgan Chase's earnings.
September 22, 2014
10:00 EDTBACBank of America rallies, levels to watch
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06:11 EDTJPMEMC explores merger, holds talks with HP, Dell, WSJ reports
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September 20, 2014
19:48 EDTBACBank of America could climb over 50%, Barron's says
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September 19, 2014
16:00 EDTBACOptions Update; September 19, 2014
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13:16 EDTKINGKing Digital lower ahead of Monday lock-up expiration
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September 18, 2014
16:00 EDTBACOptions Update; September 18, 2014
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14:08 EDTJPM, BACBanks look to high-interest personal loans to boost revenue, WSJ says
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07:52 EDTCSUBS Chair says litigation bigger worry than stress test, Bloomberg reports
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06:39 EDTCSEuropean banks take out EUR83B of loans from central bank, NY Times says
European banks agreed to take out EUR83B in low interest loans from the European Central Bank, as part of a program in which all of the funds must be loaned to businesses or individuals, or repaid to the central bank within two years, according to The New York Times. Several analysts had said that they would be disappointed if banks took out less than EUR100B in loans, but a number of analysts said that a second round of the program, due to occur in December after stress tests have been completed, may be more popular, the newspaper stated. Publicly traded European banks include Banco Santander (SAN), Barclays (BCS), Credit Suisse (CS), Deutsche Bank (DB), HSBC (HSBC), ING Groep (ING), Lloyds Banking (LYG), Royal Bank of Scotland (RBS) and UBS (UBS). Reference Link
05:31 EDTJPMVisa to undertake assessment of stake in Monitise
Visa (V) and Monitise entered into an alliance agreement in 2009. At the same time, Visa began investing in Monitise. Given the maturation of Monitise as a company, Visa is considering its options with respect to the investment and has engaged J.P. Morgan Securities (JPM) to assist. Visa will also be lessening its dependence on external mobile development resources. In 2009, in conjunction with its commercial partnership, Visa invested in Monitise as a 14.4% owner of the company in order to provide capital support to a leader in the evolution of the mobile payments sector. Over time, Visa’s holdings have been reduced to its current 5.5% stake in the company. This reduction in ownership and associated influence is consistent with Visa’s investment practice to seed emerging players and, over time, taper that influence as the partner company grows. Under their agreement, Monitise will provide Visa with mobile platform development services through 2016. As both Visa and the payments industry evolve at a rapid pace, Visa intends to continue increasing its investment in its own in-house capabilities and, as a result, reducing its use of external resources.
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