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Stock Market & Financial Investment News

News Breaks
March 19, 2013
09:28 EDTDB, ACGL, XL, UNM, AAWW, LNC, TW, BKBarclays insurance research team holds analyst/industry conference call
Insurance Analyst Research Team discusses Barclay's recently held Insurance Forum on an Analyst/Industry conference call. Companies which attended the Forum, LNC, XL, BK, AAWW, ACGL, TW, UNM, DB may be included on the Analyst/Industry conference call to be held on March 19 at 10:30 am.
News For LNC;XL;BK;AAWW;ACGL;TW;UNM;DB From The Last 14 Days
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December 15, 2014
11:45 EDTAAWWAtlas Air management to meet with FBR Capital
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December 11, 2014
13:40 EDTDBEuro zone banks accepted $160B in low interest loans, NY Times says
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11:12 EDTBKBNY Mellon management to meet with Jefferies
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10:17 EDTDBFINRA fines Barclays Capital, Citigroup Global Markets, others $43.5M total
FINRA announced that it has fined 10 firms a total of $43.5M for allowing their equity research analysts to solicit investment banking business and for offering favorable research coverage in connection with the 2010 planned initial public offering of Toys"R"Us. FINRA fined the following firms. Barclays Capital (BCS) - $5M; Citigroup Global Markets (C) – $ 5M; Credit Suisse Securities (CS) – $5M; Goldman, Sachs & Co. (CS) – $5M; JP Morgan Securities LLC (JPM) – $5M; Deutsche Bank Securities Inc. (DB) – $4M; Merrill Lynch, Pierce, Fenner & Smith Inc. (BAC) – $4M; Morgan Stanley & Co., LLC (MS) – $4M; Wells Fargo Securities, LLC (WFC) – $4M; Needham & Company LLC – $2.5M. In addition, FINRA found that six of the 10 firms — Barclays, Citigroup, Credit Suisse, Goldman Sachs, JP Morgan and Needham — had inadequate supervisory procedures related to research analyst participation in investment banking pitches. Toys"R"Us and its sponsors offered each of the 10 firms various roles in the IPO but it eventually decided not to proceed with the offering. In settling this matter, the 10 firms neither admitted nor denied the charges, but consented to the entry of FINRA's findings.
06:40 EDTDBNY investigating Deutsche Bank, Barclays currency trading, Reuters reports
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December 10, 2014
14:26 EDTUNMUnum Group to host investor meeting
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10:00 EDTACGLOn The Fly: Analyst Upgrade Summary
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07:41 EDTACGLArch Capital upgraded to Market Perform from Underperform at Keefe Bruyette
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December 9, 2014
14:57 EDTBKFed to propose rulemaking on risk-based capital surcharges for GSIB banks
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10:23 EDTXL, ACGLOn The Fly: Analyst Initiation Summary
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06:55 EDTACGLArch Capital initiated with an Overweight at JPMorgan
Target $66.
06:55 EDTXLXL Group initiated with an Underweight at JPMorgan
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December 8, 2014
15:26 EDTDBDeutsche Bank sued by U.S. over alleged scheme to avoid income taxes
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15:10 EDTDBDOJ files suit against Deutsche Bank over income tax avoidance, Bloomberg says
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10:00 EDTDBOn The Fly: Analyst Downgrade Summary
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10:00 EDTACGLOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Antero Resources (AR) upgraded to Buy from Neutral at Citigroup... Apache (APA) upgraded to Buy from Neutral at Citigroup... Applied Materials (AMAT) upgraded to Buy from Hold at Deutsche Bank... Arch Capital (ACGL) upgraded to Outperform from Market Perform at BMO Capital... CU Bancorp (CUNB) upgraded to Buy from Hold at Sandler O'Neill... Calpine (CPN) upgraded to Outperform from Neutral at Macquarie... Commerzbank (CRZBY) upgraded to Market Perform from Underperform at Keefe Bruyette... EastGroup Properties (EGP) upgraded to Neutral from Underperform at Credit Suisse... Enbridge Energy Management (EEQ) upgraded to Equal Weight at Morgan Stanley... Enbridge Energy (EEP) upgraded to Equal Weight from Underweight at Morgan Stanley... GasLog (GLOG) upgraded to Buy from Hold at Stifel... Hoegh LNG (HMLP) upgraded to Buy from Neutral at UBS... Illinois Tool Works (ITW) upgraded to Buy from Accumulate at Global Hunter... LaSalle Hotel (LHO) upgraded at Morgan Stanley... Lufthansa (DLAKY) upgraded to Buy from Neutral at Nomura... NASDAQ (NDAQ) upgraded to Outperform from Market Perform at Keefe Bruyette... Newfield Exploration (NFX) upgraded to Buy from Neutral at Citigroup... Omega Healthcare (OHI) upgraded to Buy from Hold at Jefferies... Orange SA (ORAN) upgraded to Conviction Buy from Neutral at Goldman... SM Energy (SM) upgraded to Outperform from Market Perform at BMO Capital... Southwest (LUV) upgraded at Goldman... TSMC (TSM) upgraded to Buy from Neutral at BofA/Merrill... United Technologies (UTX) upgraded at Bernstein... eBay (EBAY) upgraded to Buy from Hold at Stifel.
08:56 EDTLNCLincoln National to sell LFM to Entercom Comm for $105M plus working capital
Entercom Communications Corp. (ETM) announced that it has entered into a definitive agreement to acquire Lincoln Financial Media, or LFM, from Lincoln Financial Group (LNC) for $105M plus working capital. The transaction is subject to FCC and other customary regulatory approvals and closing conditions. The company expects that the deal will close in 2Q15. The agreement includes fifteen radio stations in the Atlanta, Denver, Miami and San Diego markets, and it will expand Entercom’s station portfolio to more than 130 stations in 26 markets. The $105M purchase price will be paid in the form of $77.5M in cash and $27.5M in new perpetual cumulative convertible preferred stock that will be issued to Lincoln. Entercom expects to finance the cash portion of the purchase price through a combination of its existing $50M revolver, cash on hand, and through other financing sources, if necessary. Entercom anticipates that it will begin operating the LFM stations under a time brokerage agreement which is expected to commence in late January following the usual Justice Department regulatory review. In order to comply with the FCC’s station ownership limitations, the Company plans to divest one FM station in the Denver market.
08:40 EDTDBDeutsche Bank and Cisco to host a conference call
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07:01 EDTACGLArch Capital upgraded to Outperform from Market Perform at BMO Capital
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06:00 EDTDBDeutsche Bank downgraded to Underperform from Market Perform at Keefe Bruyette
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