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Stock Market & Financial Investment News

News Breaks
April 14, 2014
10:56 EDTMA, V, WFC, JPMMasterCard, Visa rise after analysts recommend their shares
Shares of MasterCard (MA) are climbing after research firm Robert W. Baird upgraded the stock to Outperform from Neutral in a note to investors earlier today. Shares of peer Visa (V) are also rising after Pacific Crest initiated coverage on the stock. WHAT'S NEW: MasterCard has a strong business model and fears about the stock may be a bit overdone, Baird analyst David Koning wrote. Credit card data from JPMorgan (JPM) and Wells Fargo (WFC) indicated that volumes were largely steady versus Q4, so fears about weak Q1 volumes are probably exaggerated, the analyst contended. Meanwhile, MasterCard is unlikely to be badly hurt by ongoing litigation with some merchants, or by weakness in Russia, Koning added. Similarly, MasterCard could lose some market share to MCX, a new mobile payment platform being introduced by retailers, but the impact should not be very significant, according to the analyst, who recommended buying the stock following its recent weakness. Koning raised his rating on the shares to Outperform from Market Perform and has an $83 price target on the stock. WHAT'S NOTABLE: Research firm Pacific Crest earlier today initiated coverage of Visa (V) with an Outperform rating. Visa is well-positioned to benefit from the proliferation of mobile payments and the extension of digital payments to under served markets, the firm contended. It set a $241 price target on the shares. PRICE ACTION: In mid-morning trading, MasterCard rose $1.83, or 2.66%, to $70.51, while Visa gained 1.8% to $200.16.
News For MA;V;WFC;JPM From The Last 14 Days
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September 10, 2014
08:04 EDTWFCWells Fargo CFO says Apple Pay an 'interesting development'
Wells Fargo (WFC) CFO John Shrewsberry says the company is "happy to be a part" of the initial roll-out of Apple Pay (AAPL). Shrewsberry says Wells Fargo is focused on mobile and wants to support its customers in however they want to do business with the bank.
08:02 EDTV, MAApple Pay positive for Visa, MasterCard and American Express, says BofA/Merrill
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07:54 EDTWFCWells Fargo CFO says 'working hard' to return more capital to shareholders
Comments from Wells Fargo CFO John Shrewsberry speaking at the Barclays Global Financial Services conference.
07:29 EDTWFCWells Fargo sees Q3 mortgage originations in line with Q2
Wells Fargo said it expects Q3 mortgage originations to be in line with Q2, while gain on sale margin is expected to remain within the range of the last four quarters. The bank expects to operate within its targeted efficiency ratio range of 55%-59% in Q3.Wells Fargo said it continues to be well positioned relative to liquidity LCR standards and while there is potential for continued NIM pressure, the bank's focus remains on growing net interest income over time. Wells noted that it continues to expect future reserve releases absent significant deterioration in the economy, but expect a lower level of future releases as the rate of credit improvement slows and the loan portfolio continues to grow. Information from slides for CFO John Shrewsberry's presentation at the Barclays Global Financial Services conference.
07:16 EDTWFC, JPMRepublicans, Democrats both push for harder 'too big to fail' rules, WSJ says
Lawmakers from both the Republican and Democrat sides of the aisle urged U.S. regulators to push forward additional regulations to ensure the biggest banks aren't "too big to fail," said The Wall Street Journal. Publicly traded large U.S. 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
06:35 EDTJPM, WFCFed may raise capital requirement for some banks to 11.5%, NY Times reports
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September 9, 2014
17:44 EDTWFCWells Fargo confirms Apple Pay available to customers
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15:14 EDTVVisa to support consumer payments with Apple Pay
Visa (V) announced it is supporting consumer payments with the new iPhone 6, iPhone 6 Plus and Apple (AAPL) Watch. Thanks to a new capability called Visa Token Service, participating financial institutions in the U.S., and eventually abroad, will be able to add Visa debit and credit cards to Apple Pay, Apple’s new payment service, and enable their customers to make easy and secure purchases at select U.S. merchants both in stores and in apps. Visa Token Service technology works by replacing sensitive payment account information found on plastic cards with a digital account number or “token” that can be safely stored on mobile devices and used for in store and in app purchases. Visa will roll out the service to financial institutions in phases, initially supporting early participants in the Apple Pay launch, and then extending the service availability to all of its U.S. clients.
15:11 EDTMAMasterCard works with Apple to integrate Apply Pay
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14:54 EDTWFC, JPM, V, MAApple announces Apple Pay
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14:38 EDTVVisa launches Visa Token Service for ecommerce and mobile payments
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13:59 EDTV, MAVisa, MasterCard near highs of day after Apple confirms mobile payment plans
13:47 EDTJPMJPMorgan CFO says Jamie Dimon 'feeling fine'
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13:29 EDTJPMJPMorgan says core rate products continue to be challenged in Q3
Comment made at Barclays Global Financial Services Conference.
07:29 EDTWFCUBM Canon to hold a summit
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07:28 EDTMAThe Money Event, Inc to hold a conference
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07:11 EDTWFCUBM Tech to hold a conference
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06:33 EDTJPM, WFCFed looks set to pressure large banks to shrink, NY Times says
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06:32 EDTWFC, JPMFed to require large US banks to have extra financial padding, WSJ reports
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September 8, 2014
07:24 EDTJPM, WFCBarclays to hold a conference
Global Financial Services Conference to be held in New York on September 8-10.
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