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Stock Market & Financial Investment News

News Breaks
April 14, 2014
07:20 EDTKKR, GS, BXKKR to sell Ipreo to Blackstone, Goldman Sachs for $975M, Financial Times says
KKR (KKR) plans to sell Ipreo to Blackstone (BX) and Goldman Sachs' (GS) investment arm for $975M, reports the Financial Times. According to people familiar with the matter, the deal could be announced Monday and comes after KKR had been seeking between $850M-$1B for Ipreo. Reference Link
News For KKR;BX;GS From The Last 14 Days
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February 5, 2016
06:53 EDTBX, KKRBlackstone, Onex advance in Philips Lighting auction, Bloomberg reports
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06:00 EDTGSState Street close to deal to buy GE asset management unit, Reuters reports
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February 4, 2016
12:25 EDTBXBidders preparing bids for Blackstone's Meerwind offshore park, Reuters says
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06:58 EDTGSFed official supports tougher bank stress tests, Reuters reports
Boston Fed president Eric Rosengren said that he supports tougher stress tests for "too big to fail" banks, including larger capital investments that would make them "even more binding," Reuters reports. Rosengren said that stress test changes have reduced the likelihood that systemically important financial firms would fail, the report says. 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
06:51 EDTGSBofA doesn't deserve to be in 'stock market doghouse,' WSJ says
Bank of America (BAC) is currently in the "stock market doghouse," but doesn't deserve to be, David Reilly of the Wall Street Journal's Ahead of the Tape says. The overall beating of U.S. bank stocks has come amid the greater market selloff, reflecting the fact that slowing growth has brought doubt on the Fed's ability to raise rates in March, Reilly says. Since a rate increase is a far-off prospect, investors have little reason to own bank stocks, though Bank of America's valuation assumes "too dire an outcome," the report says. Banks with international outreach, such as Citi (C), are still arguably further behind in post-crisis cleanup, but Bank of America is more focused on the domestic U.S. economy and prices a U.S. recession as a given, not a possibility, the report says. Other large U.S. banks include Wells Fargo (WFC), JPMorgan (JPM), Goldman Sachs (GS), Morgan Stanley (MS), U.S. Bancorp (USB), BB&T (BBT), PNC Financial (PNC), and SunTrust (STI). Reference Link
February 3, 2016
18:41 EDTGSYahoo hires Qatalyst to advise on strategic alternatives, Re/code says
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16:50 EDTGSSignature Bank announces underwriters' purchase of additional shares
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08:06 EDTGSGoldman Sachs CEO says 'feeling great' after treatment
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05:16 EDTGSStocks with implied volatility movement; GS C
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February 2, 2016
10:49 EDTGSGoldman Sachs Asia unit censured by Hong Kong regulator
The Securities and Futures Commission, SFC, has publicly censured Goldman Sachs Asia for breaches of the Code on Takeovers and Mergers whilst acting as a financial advisor to Wing Hang Bank, Limited in relation to a voluntary general offer for the bank. Goldman Sachs' conduct fell far short of the standards expected of a financial advisor under the Takeovers Code in that between 8 November 2013 and 6 January 2014: Goldman Sachs executed 111 trades in the securities of Wing Hang Bank without making the requisite dealing disclosures and no prior consent was obtained as required for 26 of these trades ; and Goldman Sachs failed to comply with the restrictions on issue and distribution of research reports in relation to the research reports it published on Wing Hang Bank. In deciding the sanction, the SFC took into account Goldman Sachs' cooperation and self-reporting of the breaches. Reference Link
February 1, 2016
08:34 EDTBXBlackstone outlook positive, says JMP Securities
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06:49 EDTBXBlackstone reduces stake in ChemChina unit to less than 10%, Reuters says
Blackstone has cut down its stake in a unit of ChemChina by more than half to below 10%, Reuters reports, citing two people with knowledge of the situation. The company spent roughly $600M to purchase a 20% interest in China National Bluestar in 2008, the report says. Reference Link
06:46 EDTBXBlackstone shops IT outsourcing firm in China, WSJ reports
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January 31, 2016
12:33 EDTGSU.S. banks could return 20% or more, Barron's says
The banking sector looks like "one of the best bargains in the market," Barron's contends in a cover story. Names such as Citi (C), JPMorgan (JPM), Bank of America (BAC), Wells Fargo (WFC), Goldman Sachs (GS), Morgan Stanley (MS), BB&T (BBT), PNC Financial (PNC), SunTrust (STI) and U.S. Bancorp (USB) are showing healthy balance sheets and could offer "at least" 20% upside, the publication argues, adding that the industry's exposure to the energy sector "looks manageable" given information offered in recent earnings reports and conference calls. Reference Link
January 29, 2016
08:52 EDTGSSiemens hires Goldman Sachs to advise on potential Gamesa deal, Reuters says
Siemens (SIEGY) has hired Goldman Sachs (GS) as an advisor for its potential acquisition of Spanish wind farm manufacturer and operator Gamesa, Reuters reports, citing two people familiar with the matter. One of the sources told Reuters that it was still unclear what the structure of such a transaction would be. Reference Link
07:31 EDTGSBank, financial stocks look cheap, says Oppenheimer
After an index of bank stocks fell 19% since last summer, versus an 8% decline for the S&P, Oppenheimer says that "the group looks cheap." The firm says that banks' balance sheets will remain strong whether the economy is resilient or enters a downturn. The firm says that the banks' Q4 results were stable, and it expects the group to benefit from steady loan growth and slightly rising NIMs in 2016. Oppenheimer continues to recommend Bank of America (BAC), Citi (C), Goldman Sachs (GS), Discover (DFS), and Fifth Third (FITB)
January 28, 2016
12:30 EDTBXBlackstone says enters 2016 with 'great confidence' in the business
Says does not see recession in U.S. in 2016. Says capital inflows to funds "remain healthy." Says seeing strong demand for credit products. Says the company is in "terrific shape" in all areas. Says remains "highly profitable with strong growth prospects." Says expects price of oil to be significantly higher over next several years. Says prefers cash to massive stock buybacks as it provides more investment opportunities. Says will continue to pursue "smart acquisitions." Says does not expect China to experience a "hard landing." Comments from company's Q4 earnings conference call.
07:05 EDTBXBlackstone reports Q4 fee-earning AUM $246.15B, up 14% y/y
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07:03 EDTBXBlackstone reports Q4 ENI 37c, consensus 46c
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05:28 EDTKKRKKR and Masan Group conclude partnership in Masan consumer
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