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Stock Market & Financial Investment News

News Breaks
March 21, 2014
16:09 EDTUSB, PNC, BBT, AXP, JPM, C, STT, DFS, BAC, WFC, MS, STI, COF, GSFed issues corrected results for stress test
The Federal Reserve issued corrected results for the 2014 Dodd-Frank Act stress test. For 26 of the 30 firms, the correction led to either no change or at most a 0.1% change in the firms' minimum, post-stress tier 1 common capital ratios in the severely adverse scenario. The change led to a 0.3% increase at two firms, a 0.2% decrease at one firm, and a 0.5% decline at another. The capital ratios were adjusted to address inconsistencies in the treatment of the Q4 actual capital actions and assumptions about preferred and employee compensation-related issuance over the course of the planning horizon. The Federal Reserve will reissue a full result paper on Monday with corrections as they affect all capital ratios. Reference Link
News For MS;C;USB;WFC;JPM;GS;BAC;AXP;COF;DFS;BBT;STI;STT;PNC From The Last 14 Days
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April 13, 2015
16:18 EDTAXPAmerican Express transferred with a Market Perform at Wells Fargo
Wells Fargo transferred coverage of American Express with a Market Perform rating and raised its price target range for shares to $80-$83 from $78-$83. Wells says the stock's valuation is at the top of major credit card issuers, which it feels adequately reflects Amex's "superior return profile."
16:14 EDTDFSDiscover initiated with an Outperform at Wells Fargo
Wells started shares of Discover Financial Services with an Outperform rating and $67-$70 price target range. It says that within its U.S. large-cap banking coverage universe, Discover is the most leveraged to rebounding credit card loan growth.
15:38 EDTWFC, JPMNotable companies reporting before tomorrow's open
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15:26 EDTWFCWells Fargo April 54.5 straddle priced for 2.2% movement into Q1
15:18 EDTCOFPeapack-Gladstone names Lisa Chalkan as SVP, Chief Credit Officer
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15:18 EDTJPMJPMorgan technical notes ahead of earnings
The shares are trading close to the 52-week high which is at $63.49. On strongly positive news, the stock would be pushed toward the life high at $67.17. That would be an important technical milestone if it was reached. Traders should note however that that move would on a long-term basis appear as a move up to prior resistance without being a bullish breakout. Until or if there is a breakout above the old life high, there is retracement risk even on good results. On news that is more bearish than current expectations would suggest, first major support would be at the 50-day moving average at $60.10. On a move below that level, next support would be at $57.87.
15:10 EDTJPMJPMorgan April 62 straddle priced for 2.6% movement into Q1
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13:57 EDTJPMEarnings Watch: Analysts upbeat on JPMorgan ahead of Q1 results
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12:39 EDTWFCWells Fargo April volatility elevated into Q1 and outlook
Wells Fargo April call option implied volatility is at 27, May is at 17, June is at 15; compared to its 26-week average of 17 according to Track Data, suggesting large near term price movement in the expected release of Q1 results on April 14.
12:17 EDTCCiti's Bird to replace Medina-Mora, run global consumer bank, WSJ reports
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12:05 EDTCCiti's Bird to replace Medina-Mora, run global consumer bank, Bloomberg says
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11:16 EDTWFCConocoPhillips looks to sell noncore U.S. acreage, Reuters says
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11:12 EDTJPMJP Morgan April volatility elevated into Q1 and outlook
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09:24 EDTBACBank of America shares are cheap, says Morgan Stanley
Morgan Stanley said its sum of the parts of analysis of Overweight rated Bank of America indicates a value of $21. The firm said Bank of America's current share price implies no value for the wealth management division, which it values at $4.84 per share. Morgan Stanley said shares are cheap and recommends purchase.
08:42 EDTGSPandora rises after Spotify reportedly valued above $8B in fundraising
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07:52 EDTMSPotential rule change on accounts to likely be manageable, says JMP Securities
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07:19 EDTBACbloomberg to hold a summit
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07:16 EDTMSTechWeek to hold a conference
TechWeek Detroit 2015 is being held in Detroit on 4/13-19.
07:15 EDTAXPAmerican Express shares could hit $105 in 18 months, says William Blair
William Blair analyst Robert Napoli says shares of American Express (AXP) are trading at nearly a 20% valuation discount to the S&P 500, reflecting "very high" pessimism in the name. Napoli tells investors today that other periods of "extreme pessimism" for American Express included 1998, 2001, and 2008/2009, with each proving to be a buying opportunity. He believes the current period will be no different. Napoli expects Amex shares to trend to historical valuation levels as investors look past the loss of Costco (COST) and better appreciate the company's growth opportunities. The analyst believes a stock price of around $105 is “reasonable” in about 18 months. The credit card issuer closed Friday up 43c to $79.59.
06:39 EDTGSGoldman Sachs in talks to sell NPL business of Archon to D.E. Shaw, Reuters says
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