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Stock Market & Financial Investment News

News Breaks
July 11, 2014
09:09 EDTMTG, RCII, LO, QCOM, FAST, CUDA, WFC, FMCC, QCOR, RDN, GPS, RAI, FNMA, ISLEOn The Fly: Pre-market Movers
HIGHER: Lorillard (LO) up 5% after confirming talks with Reynolds (RAI) about a potential merger. Reynolds shares are also up 1.2% following the news... Barracuda Networks (CUDA), up 2.5% after reporting better than expected earnings. LOWER: Wells Fargo (WFC), down 1% after reporting Q2 earnings that matched estimates... Rent-A-Center (RCII), down 12% following its Q2 profit warning... MGIC Investment (MTG), down 15% and Radian Group (RDN), down 7% following FHFA's proposal to tighten capital rules for private mortgage insurance companies that insure mortgage loans owned or guaranteed by Fannie Mae (FNMA) and Freddie Mac (FMCC)... Fifth Street Finance (FSC), down 4% after filing to sell 13.25M shares of common stock... Fastenal (FAST), down 3% after Q2 revenue misses consensus... Qualcomm (QCOM), down 1% after downgraded at Goldman... Gap (GPS), down 1.4% after reporting its June same-store sales fell 2%... Isle of Capri (ISLE), down 10.5% after CFO Black to leave company... Questcor (QCOR), down 1% after NY Times reports on the company's disclosure of Acthar adverse effects data.
News For LO;RAI;WFC;RCII;GPS;CUDA;MTG;RDN;FAST;ISLE;QCOR;QCOM;FNMA;FMCC From The Last 14 Days
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March 26, 2015
08:26 EDTQCOMSemi stocks less likely to rebound now than in 4Q14, says Goldman
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08:17 EDTWFCSEC 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
06:11 EDTWFCWells Fargo to close Milwaukee office, cut 1,000 jobs, AP reports
Wells Fargo will eliminate about 1,000 jobs in Milwaukee as the bank closes its home lending servicing office in the city, The Associated Press reports. The bank said in an emailed statements that fewer customers have become delinquent on their payments as the economy has improved, and fewer customers have needed assistance to stay in their homes. Reference Link
March 25, 2015
07:33 EDTQCOMQualcomm Life and AMC Health announce collaboration
Qualcomm Life, a subsidiary of Qualcomm, and AMC Health announced a collaborative effort to accelerate the transformation of chronic care and population health management by significantly enhancing connectivity and care coordination for at-risk patients, specifically those with heart failure, hypertension, diabetes, asthma or COPD, in a cost-effective manner. The companies will integrate Qualcomm Life's 2net Connectivity Platform with AMC Health's CareConsole care coordination platform.
March 24, 2015
07:45 EDTWFCMetLife CEO letter may be early sign of bank earnings headwinds, WSJ says
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07:27 EDTWFCTelsey Advisory to hold a conference
2015 Consumer Conference is being held in New York on March 24-25.
07:19 EDTFMCC, FNMAOcwen to sell additional $25B portfolio to Nationstar
Ocwen Financial (OCN) announced that its subsidiary, Ocwen Loan Servicing and Nationstar Mortgage, an indirectly-held, wholly-owned subsidiary of Nationstar Mortgage Holdings (NSM) have agreed in principle to the sale by Ocwen of residential mortgage servicing rights on a portfolio consisting of approximately 142,000 loans owned by Freddie Mac (FMCC) and Fannie Mae (FNMA) with a total principal balance of approximately $25B. Subject to a definitive agreement, approvals by Freddie Mac, Fannie Mae and FHFA and other customary conditions, Ocwen and Nationstar expect the transaction to close before mid-year.
March 23, 2015
15:53 EDTRAI, LOCapitol Forum: FTC timing agreement for Lorillard deal extended, Bloomberg says
Capitol Forum reported earlier, citing a person familiar with the matter, that the FTC timing agreement for the review of Reynolds American's (RAI) proposed acquisition of Lorillard (LO) has been extended by one week to March 31.
07:19 EDTWFCCapital Link to hold a forum
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06:59 EDTRAIBig Tobacco accused of trying to dampen e-cigarette sales, Reuters says
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March 20, 2015
15:40 EDTCUDAMore cybersecurity firms to come public amid high market demand, Reuters says
With shares of publicly traded cybersecurity companies having recently outperformed the market, a number of privately-held IT security names, including Rapid7, LogRythm and Mimecast, plan to go public in 2015 amid the high level of investor interest, said Reuters, citing people familiar with the matter. Publicly traded companies in the space include Barracuda Networks (CUDA), Check Point (CHKP), F5 Networks (FFIV), FireEye (FEYE), Fortinet (FTNT), Imperva (IMPV), Palo Alto (PANW), Proofpoint (PFPT), Qualys (QLYS) and Symantec (SYMC). Reference Link
March 19, 2015
11:53 EDTWFCU.S. banks face headwinds in unloading oil loans, WSJ says
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March 18, 2015
11:36 EDTFMCCOcwen intends to sell $9.6B portfolio of mortgage servicing rights to Green Tree
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07:22 EDTFMCC, FNMAFreddie Mac, Fannie Mae could need more bailouts, WSJ says
Freddie Mac (FMCC) and Fannie Mae (FNMA) might be at risk of needing additional bailouts, due to weak Q4 earnings, reports the Wall Street Journal, citing a watchdog. Reference Link
05:52 EDTQCOMQualcomm to play larger role for China smartphone production, DigiTimes says
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March 17, 2015
13:10 EDTFNMAJPMorgan could acquire Ocwen's Fannie MSR portfolio, IMF reports
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08:26 EDTFNMA, FMCCFreddie Mac, Fannie Mae begin legal battle against Nomura, RBS, NY Post says
Freddie Mac (FMCC) and Fannie Mae (FNMA) alleged in court proceedings Monday that they bought "bad" mortgages because they were mislead by banks, reports the New York Post, citing court arguments. Monday was the first day of the lawsuit against Nomura (NMR) and co-defendant Royal Bank of Scotland (RBS) which seeks $1B in damages as well as the ability to return the securities to the banks. Lawyers presented internal bank emails that identified some mortgages as "crap" or from "extremely dysfunctional" lenders, while the banks alleged that they fully disclosed the poor quality of the products. Reference Link
March 16, 2015
06:09 EDTQCOMStocks with implied volatility below IV index mean; CSCO QCOM
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March 15, 2015
15:59 EDTRAI, LOFTC increases scrutiny on Reynolds-Lorillard deal, WSJ says
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March 13, 2015
09:12 EDTCUDAVista exploring sale of cybersecurity company Websense, Bloomberg says
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