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Stock Market & Financial Investment News

News Breaks
July 18, 2014
11:21 EDTRBS, BCS, LYG, HSBCBritish antitrust regulator to investigate country's banks, NY Times reports
The U.K.'s antitrust authorities said they expected to open a formal investigation into Britain's retail banking industry, reports the New York Times. The regulators cited barriers to competition that include control of a national network of branches by four large banks that control more than three-quarters of the market. Reference Link
News For LYG;RBS;HSBC;BCS From The Last 14 Days
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February 25, 2015
09:44 EDTLYGLloyds seeks adjustment of CEO bonus, Sky News says
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08:59 EDTHSBCHSBC CEO to testify to U.K. Treasury Committee, Globe and Mail says
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06:07 EDTRBSRBS suspends two additional employees in forex investigation, Reuters says
RBS stated Wednesday it has suspended an additional two employees as part of its investigation into failures to stop foreign currency markets, reports Reuters, citing company statements. The bank had earlier suspended three employees and placed six into a "disciplinary process." Reference Link
February 24, 2015
13:07 EDTRBS, LYG, BCS, HSBCEU official: Euro banks shouldn't also go through Fed's stress test, WSJ says
Jonathan Hill, the European Union’s new financial markets chief, told The Wall Street Journal that he does not see a need for the U.S. to give stress tests to European banks that have already received health checks in Europe. Hill says banks across Europe are "properly and sensibly capitalized." The WSJ reported last week that the U.S. units of two European banks, Deutsche Bank (DB) and Banco Santander (SAN), are set to fail the Federal Reserve's stress tests, though they passed ECB stress tests last year. Reference Link
10:00 EDTHSBCOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: AMC Networks (AMCX) downgraded to Neutral from Outperform at Macquarie... American Airlines (AAL) downgraded to Market Perform at Cowen... Armstrong World (AWI) downgraded to Hold from Buy at KeyBanc... Basic Energy (BAS) downgraded to Outperform from Strong Buy at Raymond James... CSC (CSC) downgraded at Stifel... Chevron (CVX) downgraded to Perform from Outperform at Oppenheimer... Choice Hotels (CHH) downgraded to Underweight from Equal Weight at Barclays... Eni SpA (E) downgraded to Underperform from Hold at Jefferies... Fifth Street Asset (FSAM) downgraded to Neutral from Outperform at Credit Suisse... HSBC (HSBC) downgraded to Neutral from Buy at UBS... Home Loan Servicing (HLSS) downgraded to Neutral from Overweight at Piper Jaffray... Huntington Ingalls (HII) downgraded to Underperform from Neutral at Credit Suisse... International Paper (IP) downgraded to Hold from Buy at Deutsche Bank... Kayne Anderson (KED) downgraded at Stifel... Landstar System (LSTR) downgraded to Hold from Buy at Deutsche Bank... Multi-Color (LABL) downgraded to Neutral from Long-Term Buy at Hilliard Lyons... Newmont Mining (NEM) downgraded to Neutral from Overweight at HSBC... ONEOK Partners (OKS) downgraded to Underweight from Neutral at JPMorgan... ONEOK (OKE) downgraded to Underweight from Neutral at JPMorgan... Olympic Steel (ZEUS) downgraded to Underperform from Neutral at Credit Suisse... Polypore (PPO) downgraded to Market Perform from Outperform at William Blair... Rosetta Resources (ROSE) downgraded to Equal Weight from Overweight at Stephens... Salix (SLXP) downgraded to Neutral from Buy at UBS... Sprint (S) downgraded to Sell from Neutral at BTIG... St. Jude Medical (STJ) downgraded to Underperform from Outperform at Credit Suisse... Timmins Gold (TGD) downgraded on lack of near-term production catalysts at RBC Capital... Transocean Partners (RIGP) downgraded to Underweight from Equal Weight at Barclays... Vodafone (VOD) downgraded to Underperform from Neutral at BofA/Merrill... Williams Partners (WPZ) downgraded to Neutral from Buy at Citigroup... Williams (WMB) downgraded to Neutral from Buy at Citigroup... Worthington (WOR) downgraded to Neutral from Outperform at Credit Suisse... Zillow Group (Z) downgraded at Macquarie.
07:56 EDTHSBCHSBC downgraded to Hold from Buy at Canaccord
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07:49 EDTRBSRBS to downsize investment bank, Asia operations, Reuters says
RBS will transfer responsibility of its investment bank from Donald Workman to restructuring chief Rory Cullinan in order to scale back operations at the unit and largely pull out of Asia, reports Reuters, citing three sources. The bank is expected to announce downsizing in Asia to just 200 staff in Singapore, down from 2,800 in late 2014. Cullinan will also lead the banks exit from "several European markets," said the sources. Reference Link
07:21 EDTHSBCSecurities Industry & Financial Markets Association to hold a conference
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06:31 EDTHSBCHSBC CEO defends secret Swiss account, NY Times reports
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06:15 EDTBCS, HSBCBanks probed for possible rigging of precious metals markets, WSJ reports
Officials in the U.S. are investigating at least 10 major banks for potential rigging of precious-metals markets, sources tell The Wall Street Journal. The DOJ's antitrust unit are investigating the price-setting process for gold, silver, palladium and platinum in London, while the CFTC has begun a civil investigation, with both agencies making requests for information, including a subpoena to HSBC (HSBC) from the CFTC. According to a source, Credit Suisse (CS), JP Morgan (JPM), UBS (UBS), Societe Generale (SCGLY), Bank of Nova Scotia (BNS), Barclays (BCS), Goldman Sachs (GS) and Deutsche Bank (DB) are also under investigation. Reference Link
05:28 EDTHSBCHSBC downgraded to Neutral from Buy at UBS
February 23, 2015
13:33 EDTRBSRBS could name Howard Davies as chairman this week, FT reports
Royal Bank of Scotland (RBS) could name Howard Davies as its chairman as early as Thursday, when the bank reports its full-year results, the Financial Times reports. Davies is currently chairman of insurance business Phoenix Group and chairs Morgan Stanley's (MS) risk committee. Current RBS Chairman Philip Hampton is set to become GlaxoSmithKline's (GSK) chairman as early as this summer. Reference Link
06:49 EDTHSBCHSBC may be hit with $1B in new fines, compensation costs, Reuters says
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06:37 EDTLYGU.K. lowered Lloyds Banking stake, NY Times says
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06:19 EDTHSBCHSBC notes broad range of economic uncertainties, challenges for 2015
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06:16 EDTHSBCHSBC says 2014 was a 'challenging year' where 'profits disappointed'
HSBC CEO Stuart Gulliver commented, “2014 was a challenging year in which we continued to work hard to improve business performance while managing the impact of a higher operating cost base. Profits disappointed, although a tough fourth quarter masked some of the progress made over the preceding three quarters. Many of the challenging aspects of the fourth quarter results were common to the industry as a whole. In spite of this, there were a number of encouraging signs, particularly in Commercial Banking, Payments & Cash Management and renminbi products and services. We were also able to continue to grow the dividend.”
06:15 EDTHSBCHSBC reports FY14 EPS 69c, compared to 84c a year ago
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06:13 EDTHSBCHSBC confirms CEO Gulliver has Swiss bank account, Reuters reports
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February 19, 2015
14:21 EDTRBS, HSBC, LYG, BCSS&P reportedly says Greece contagion not a major risk, Reuters reports
The risk of contagion spreading from Greece to other European countries is not that large, a German newspaper quoted S&P's chief sovereign ratings officer as saying, according to Reuters. The euro zone would be able to handle an exit of the bloc by Greece, the ratings officer was quoted as saying, Reuters reported. 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
06:04 EDTBCS, RBS, HSBC, LYGFCA to investigate investment and corporate banking
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