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Stock Market & Financial Investment News

News Breaks
July 11, 2014
09:09 EDTQCOR, RDN, GPS, RAI, FNMA, ISLE, MTG, RCII, LO, QCOM, FAST, CUDA, WFC, FMCCOn 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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December 12, 2014
10:01 EDTFASTOn The Fly: Analyst Initiation Summary
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08:09 EDTWFCBofA/Merrill financial analysts hold an analyst/industry conference call
Banks Analyst Najarian, along with Capital Markets Analyst Carrier, Specialty Finance Analyst Bruce discuss the year ahead in Financials, covering the Banks, Capital Markets, Life and P/C Insurance, REIT, Specialty Finance and Canadian Banks/Life Insurance sectors on an Analyst/Industry conference call to be held on December 16 at 10 am.
07:11 EDTFASTFastenal initiated with a Buy at Stifel
Target $56.
06:32 EDTQCOMQualcomm commits to invest $40M into Chinese companies
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December 11, 2014
16:12 EDTRCIIRent-A-Center raises quarterly dividend by 1c to 24c per share
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10:17 EDTWFCFINRA 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.
07:22 EDTRDNAssured Guaranty close to deal to buy Radian unit for $800M, Reuters says
Assured Guaranty (AGO) is close to a deal to buy Radian's (RDN) financial guaranty business for about $800M, Reuters reports, citing sources. A deal could be announced within the next few days, the sources add. Reference Link
06:32 EDTQCOMGlobalfoundries hope to win orders from Qualcomm and Apple, DigiTimes reports
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06:06 EDTQCOMQualcomm cutting 600 jobs worldwide, CNet reports
A Qualcomm spokesperson has confirmed that the company is planning to cut 600 jobs globally, with around half the cuts coming in California, CNet reports. The spokesperson notes that the layoffs are not related to ongoing investigations in the U.S., China and the EU, commenting that the layoffs are "focused on specific projects and programs and reflects current business priorities." Reference Link
December 10, 2014
08:12 EDTCUDAIT security outlook remains positive, says Pacific Crest
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December 9, 2014
14:57 EDTWFCFed to propose rulemaking on risk-based capital surcharges for GSIB banks
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14:42 EDTWFCFed sees setting capital surcharge up to 4.5% for big U.S. banks, Bloomberg says
Bloomberg cites surcharge estimates in Federal Reserve staff memo. Publicly traded companies in the space include Bank of America (BAC), Citigroup (C), Goldman Sachs (GS), JPMorgan (JPM), Morgan Stanley (MS), U.S. Bancorp (USB) and Wells Fargo (WFC).
December 8, 2014
15:26 EDTWFCDeutsche Bank sued by U.S. over alleged scheme to avoid income taxes
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12:31 EDTFMCC, FNMAFannie Mae, Freddie Mac to back mortgages with 3% down payments, LA Times says
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10:00 EDTWFCOn The Fly: Analyst Downgrade Summary
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08:25 EDTRAIReynolds American CFO change not related to negative event, says RBC Capital
After Reynolds' CFO retired, RBC Capital says that the CFO's retirement appears to have been planned ahead of time and does not indicate any problems at the company. The firm keeps a Top Pick rating on the shares.
07:52 EDTWFCWells Fargo downgraded to Market Perform from Outperform at Bernstein
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07:31 EDTQCOMQualcomm announces collabration with vitaphone e-health solutions
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07:06 EDTMTGMGIC Investment reports November primary new insurance written $2.9B
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06:35 EDTWFCValue of Wall Street's M&A bankers has risen, NY Times says
The value of Wall Street's bankers who advise large companies seems to be increasing, while traders are becoming less valuable, according to The New York Times. Bankers who work on M&A deals are expecting their bonuses to increase, while traders anticipate that their compensation will drop, the newspaper added. Furthermore, banks seem to be going the extra mile to hire top notch bankers, the newspaper stated. Publicly traded large banks include Bank of America (BAC), Citigroup (C), Goldman Sachs (GS), JPMorgan (JPM), Morgan Stanley (MS), U.S. Bancorp (USB) and Wells Fargo (WFC). Reference Link
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