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Stock Market & Financial Investment News

News For LYG;ING;RY;BCS;CS;RBS;UBS;DB;BBVA;AEG;SAN From The Last 14 Days
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January 28, 2015
16:56 EDTBCS, CS, DB, RBS, UBSFederal judge says FOREX manipulation case to proceed, Reuters reports
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08:28 EDTDBDeutsche Bank may issue statement Thursday regarding Postbank, WSJ says
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07:43 EDTRBSRBS divesting toxic assets 12 months ahead of schedule, Bloomberg says
Royal Bank of Scotland Group will divest or wind down 85% of its toxic assets by late 2015, 12 months ahead of schedule, reports Bloomberg, citing a person with knowledge of the matter. The remaining 15% of its $43.7B "bad debt" will remain within RBS Capital Resolution because it is too toxic or too long-term. Reference Link
January 27, 2015
10:00 EDTCSOn the Fly: Analyst Downgrade Summary
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08:20 EDTCSFCC to hold a conference
Small Business and Emerging Technologies Conference is being held at FCC Washington, D.C. with webcasted presentations to begin at 9 am. Webcast Link
07:18 EDTSANDiageo extends payment delay to 90 days for small suppliers, Telegraph says
Diageo (DEO), owner of Guinness and Johnnie Walker, notified suppliers it will delay payment for 90 days on all new contracts and tenders from February 1 onwards, reports the Telegraph. The notice also stated suppliers would have access to Santander (SAN) financing if any monetary issues arise due to the new policy. The Forum of Private Business plans to challenge Diageo on the matter. Reference Link
06:52 EDTSAN, CS, DB, BCS, ING, UBS, RBS, LYGEuropean Central Bank raises capital requirements for banks, WSJ says
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05:07 EDTCSCredit Suisse downgraded to Hold from Buy at Jefferies
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January 23, 2015
08:22 EDTUBSUBS says did not experience negative revenues in trading from Swiss franc move
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08:21 EDTUBSUBS sees DCCP to qualify as additional tier 1 capital
UBS has enhanced certain features of its employee compensation framework in anticipation of increased focus on tier 1 capital instruments. Starting with compensation for 2014, Deferred Contingent Capital Plan, or DCCP, awards will qualify as fully applied additional tier 1 capital under Basel III regulations. This will optimize the capital efficiency of these plans under Basel III. Outstanding DCCP awards granted for the performance years 2012 and 2013 are unaffected by these changes, and continue to qualify as Basel III tier 2 loss-absorbing capital. Reflecting progress in the establishment of its Group holding company, including the successful completion of its share-for-share exchange offer, UBS fully accrued a supplementary capital return of CHF 0.25 per share in the fourth quarter of 2014. The accrual reduced UBS's fully applied Basel III CET1 capital by approximately CHF 1B as of December 31, 2014. Subject to shareholder approval, UBS Group AG intends to pay the supplementary capital return upon successful completion of the squeeze-out procedure. The supplementary capital return is expected to be a distribution of capital contribution reserves. It is separate and in addition to its targeted capital return of at least 50% of net profit attributable to UBS shareholders, UBS said.
07:59 EDTUBSUBS wins dismissal of lawsuit over inactive account seizure, Reuters says
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January 22, 2015
16:27 EDTRYOn The Fly: Closing Wrap
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13:59 EDTRYRoyal Bank of Canada not planning further large acquisitions, Reuters says
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12:28 EDTRYOn The Fly: Midday Wrap
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09:16 EDTRYOn The Fly: Pre-market Movers
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08:03 EDTRYRoyal Bank of Canada to host conference call
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07:14 EDTRYCity National volatility elevated into Royal Bank of Canada acquiring for $5.4B
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07:05 EDTRYRoyal Bank of Canada to acquire City National for $93.80 per share
City National Corporation (CYN) and Royal Bank of Canada (RY) announced a definitive agreement by which Royal Bank of Canada will acquire all outstanding shares of City National Corp. Total consideration is valued at approximately $5.4B at announcement, or approximately $93.80 per City National share, comprised of a mix of cash and common stock, based on RBC's closing stock price on January 21. The agreement has been approved by the boards of both companies. Following completion of this transaction, Russell Goldsmith will remain Chairman and CEO of City National, and he also will be responsible for RBC's U.S. Wealth Management unit. Goldsmith has served as City National's CEO since 1995. RBC will pay, on average, approximately $47.25 in cash and 0.7489 of an RBC common share for each share of City National common stock. City National stockholders will be entitled to elect to receive the merger consideration in RBC common shares or cash, subject to certain adjustments and limitations. The aggregate consideration will be paid with approximately $2.7B in cash and approximately 44M RBC common shares. This represents approximately a 50% cash and 50% share mix as of announcement. The total number of RBC common shares to be issued and the amount of cash to be paid in the transaction are both fixed. As part of the transaction, the Goldsmith family stockholders have agreed to vote their City National holdings in favor of the transaction and to hold at least 50% of the RBC common shares received by them in the transaction until the third anniversary of closing. The transaction is expected to be accretive to RBC's earnings per share in the latter part of year three and accretive to earnings in year two. Given RBC's strong capital position and internal capital generation, the company expects to maintain its ongoing capital management program, and to maintain a Common Equity Tier 1 ratio at closing broadly in line with its current level. RBC's CET 1 ratio was 9.9% as of October 31, 2014. Closing is expected before the end of calendar 2015 subject to customary closing conditions, including receipt of required regulatory approvals and the approval of City National's stockholders.
07:02 EDTRYRoyal Bank of Canada to acquire City National for $93.80 per share
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06:37 EDTBCSNew York Attorney General seeks to expand Barclays lawsuit, Telegraph says
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January 21, 2015
07:04 EDTSANSunEdison and TerraForm Power secure financing for solar project in UK
SunEdison (SUNE) and TerraForm Power (TERP) have secured financing to build five large-scale solar farms in the UK which will generate 85.2MW of electricity. The projects are expected to be acquired by Terraform in early 2015. Financing for the solar farms has been provided by Santander (SAN) Global Banking and Markets and Bayerische Landesbank, who acted as arrangers and Santander UK who acted as agent. The total amount financed was GBP70M. SunEdison has begun construction on all five sites, and will complete them in Q1.
January 20, 2015
16:53 EDTINGING Groep reports 18.9% passive stake in Voya Financial
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14:06 EDTRBSCitizens, Keysight identified as long positions by Einhorn
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08:41 EDTCSCredit Suisse's capital ratios not changed by unstable Swiss franc, Reuters says
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07:30 EDTLYG, BCS, RBSU.K. banks see Bitcoin as threat to sterling, boon to terrorists, Telegraph says
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07:28 EDTBCSTreasury Institute for Higher Education to hold a symposium
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06:39 EDTCSCredit Suisse will charge certain clients for franc accounts, Reuters says
On January 22, Credit Suisse will begin charging some large corporate clients for franc accounts in order to introduce negative interest rates, reports Reuters, citing Credit Suisse spokeswoman Daniela Haesler. Reference Link
05:57 EDTBBVABanco Bilbao upgraded to Buy from Neutral at Citigroup
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January 18, 2015
16:16 EDTBCSBarclays loses 'millions' on Swiss franc volatility, Reuters says
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January 16, 2015
16:29 EDTCSOn The Fly: Closing Wrap
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10:06 EDTLYG, RYHigh option volume stocks
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09:09 EDTBCS, DBDeutsche Bank, Barclays lost 'tens of millions' on Swiss franc, WSJ says
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08:19 EDTRBSRBS reviewing loans to small businesses on new issue, Independent says
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January 15, 2015
11:23 EDTUBSSEC charges UBS unit with disclosure violations in operating dark pool
The Securities and Exchange Commission has charged a subsidiary of UBS with disclosure failures and other securities law violations related to the operation and marketing of its dark pool. UBS Securities LLC agreed to settle the charges by paying more than $14.4M, including a $12M penalty that is the SEC’s largest against an alternative trading system. An SEC examination and investigation of UBS revealed that the firm failed to properly disclose to all subscribers the existence of an order type that it pitched almost exclusively to market makers and high-frequency trading firms. Furthermore, the SEC investigation found that UBS similarly failed to disclose to all subscribers a “natural-only crossing restriction” developed to ensure that select orders would not execute against orders placed by market makers and high-frequency trading firms. UBS consented to the SEC’s order without admitting or denying the findings. The order censures the firm and requires payment of $2,240,702.50 in disgorgement, $235,686.14 in prejudgment interest, and the $12M penalty.
10:41 EDTRBSRBS general counsel, others leave bank, NY Times reports
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07:17 EDTUBSUBS volatility at 28 into Swiss ends exchange-rate-cap
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07:14 EDTCSCredit Suisse volatility elevated as shares trade at two-year low
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06:58 EDTCSCredit Suisse to ask regulators to continue managing pensions, Reuters says
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06:42 EDTCS, SAN, DB, RBS, UBS, ING, BCS, LYGECB most likely will unveil bond buying program, NY Times says
The European Central Bank is "all but certain" to announce at its next meeting that it will buy government bonds, according to The New York Times. But the ECB may announce that it will buy bonds but say that it will only provide details about the program in March, some believe, the newspaper reported. Some economists contend that the initiative could be a case of "too little, too late," The Times added. Publicly traded European banks include Banco Santander (SAN), Barclays (BCS), Credit Suisse (CS), Deutsche Bank (DB), HSBC (HSBC), ING Groep (ING), Lloyds Banking (LYG), RBS (RBS) and UBS (UBS). Reference Link
January 14, 2015
11:46 EDTAEGAEGON upgraded to Outperform from Sector Perform at RBC Capital
11:15 EDTDBDeutsche Bank mulling separation of retail division, Reuters reports
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10:00 EDTCSOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: ACE Limited (ACE) downgraded to Neutral from Outperform at Macquarie... AXIS Capital (AXS) downgraded to Neutral from Outperform at Macquarie... Allstate (ALL) downgraded to Underperform from Neutral at Macquarie... Altera (ALTR) downgraded to Neutral from Overweight at JPMorgan... American Midstream Partners (AMID) downgraded to Neutral from Buy at BofA/Merrill... Argo Group (AGII) downgraded to Underperform from Neutral at Macquarie... Aspen Insurance (AHL) downgraded to Underperform from Neutral at Macquarie... Beneficial Bancorp (BNCL) downgraded to Neutral at Boenning & Scattergood... CDW Corporation (CDW) downgraded to Neutral from Buy at Goldman... CHC Group (HELI) downgraded at Raymond James... CIRCOR (CIR) downgraded to Hold from Buy at Stifel... Chesapeake (CHK) downgraded to Underweight from Equal Weight at Barclays... Commerzbank (CRZBY) downgraded to Sell from Neutral at Goldman... Continental Resources (CLR) downgraded to Equal Weight from Overweight at Barclays... Corporate Office Properties (OFC) downgraded to Market Perform at Wells Fargo... Credit Suisse (CS) downgraded to Neutral from Overweight at HSBC... Datawatch (DWCH) downgraded to Hold at Canaccord... Devon Energy (DVN) downgraded to Equal Weight from Overweight at Barclays... Dollar Tree (DLTR) downgraded to Neutral from Buy at Northcoast... Douglas Emmett (DEI) downgraded to Neutral from Buy at Mizuho... Dresser-Rand (DRC) downgraded to Underperform from Market Perform at Raymond James... Enable Midstream (ENBL) downgraded to Underperform from Neutral at BofA/Merrill... F5 Networks (FFIV) downgraded to Equal Weight from Overweight at Barclays... First Majestic (AG) downgraded to Sector Perform from Outperform at Scotia Capital... Foot Locker (FL) downgraded to Sell from Neutral at Goldman... Franklin Resources (BEN) downgraded to Neutral from Buy at Goldman... HCP (HCP) downgraded to Market Perform from Outperform at Wells Fargo... Halcon Resources (HK) downgraded to Underweight from Equal Weight at Barclays... Insulet (PODD) downgraded at Sterne Agee... J.B. Hunt (JBHT) downgraded to Market Perform from Outperform at Avondale... JPMorgan (JPM) downgraded to Underweight from Neutral at HSBC... KB Home (KBH) downgraded to Neutral from Outperform at Credit Suisse... Kosmos (KOS) downgraded to Equal Weight from Overweight at Barclays... Marathon Oil (MRO) downgraded to Equal Weight from Overweight at Barclays... Medley Management (MDLY) downgraded to Market Perform at Keefe Bruyette... MoneyGram (MGI) downgraded to Underperform from Neutral at BofA/Merrill... NPS Pharmaceuticals (NPSP) downgraded to Neutral from Overweight at JPMorgan... National Grid (NGG) downgraded to Underperform from Neutral at Credit Suisse... Navigators (NAVG) downgraded to Underperform from Neutral at Macquarie... Pioneer Energy (PES) downgraded at Raymond James... RSP Permian (RSPP) downgraded to Equal Weight from Overweight at Barclays... Rambus (RMBS) downgraded to Neutral from Overweight at JPMorgan... Realty Income (O) downgraded to Market Perform from Outperform at Wells Fargo... Red Hat (RHT) downgraded to Sell from Neutral at Goldman... Resolute Energy (REN) downgraded to Underweight from Equal Weight at Barclays... Ross Stores (ROST) downgraded to Neutral at UBS... SandRidge Energy (SD) downgraded to Underweight from Equal Weight at Barclays... Tech Data (TECD) downgraded to Sell from Neutral at Goldman... Teekay Offshore Partners (TOO) downgraded to Neutral from Buy at BofA/Merrill... Travelers (TRV) downgraded to Underperform from Neutral at Macquarie... TrueCar (TRUE) downgraded to Market Perform at Cowen... Valspar (VAL) downgraded to Neutral from Outperform at RW Baird... Verizon (VZ) downgraded at Evercore ISI... Viacom (VIAB) downgraded to Sell from Buy at Citigroup... W. R. Berkley (WRB) downgraded to Underperform from Neutral at Macquarie... Waddell & Reed (WDR) downgraded to Neutral from Buy at Goldman... Western Union (WU) downgraded to Underperform from Neutral at BofA/Merrill... Whiting Petroleum (WLL) downgraded to Equal Weight from Overweight at Barclays... Whole Foods (WFM) downgraded to Hold from Buy at Argus... Xilinx (XLNX) downgraded to Neutral from Overweight at JPMorgan... iRobot (IRBT) downgraded to Underweight from Neutral at JPMorgan.
09:13 EDTRBSRoyal Bank of Scotland gets exemption from Fed, Reuters says
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06:57 EDTBCSBarclays appoints Jonathan Moulds as Group COO
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06:49 EDTCSCredit Suisse downgraded to Neutral from Overweight at HSBC
HSBC downgraded Credit Suisse to Neutral citing the bank's "relatively weak" equity leverage ratio and risk from additional U.S. mortgage litigation.
06:44 EDTCS, UBS, SAN, BCS, DB, ING, LYG, RBSTop court official backs ECB bond buying, NY Times reports
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06:37 EDTRBSRBS has shortlisted Sarasin, DBS consortium for Coutts Intl sale, Reuters says
J Safra Sarasin and a consortium comprising of DBS Group are among the banks shortlisted for the second round sale process of RBS' Coutts International, reports Reuters. According to people familiar with the matter, no firm date has been set for the final bids although all the shortlisted parties have commenced due diligence. Reference Link
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