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Stock Market & Financial Investment News

News Breaks
March 21, 2014
16:09 EDTJPM, C, STT, DFS, BAC, WFC, MS, STI, COF, GS, USB, PNC, BBT, AXPFed 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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May 18, 2015
12:09 EDTAXPAmerican Express management to meet with Guggenheim
Meeting to be held in New York on May 20 hosted by Guggenheim.
09:46 EDTMS, JPM, C, WFC, BACMPLX enters common unit sales agreement for up to $500M
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09:36 EDTBAC, CActive equity options trading on open
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08:01 EDTCList of potential buyers of Citi Egyptian retail unit narrows, Reuters reports
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07:46 EDTAXPAmerican Express has $850M revenue opportunity with Plenti, says Deutsche Bank
Deutsche Bank estimates the coalition loyalty/rewards program Plenti represents a $750M-$850M annual revenue opportunity for American Express (AXP) over the next 3-5 years. Earnings accretion will take time, but returns on equity are likely "very high," Deutsche says in a research note. The firm believes Plenti is an example of how Amex is leveraging its strengths to mitigate the loss of Costco (COST). It thinks Plenti's next program supplier needs to be a grocery chain, and pegs Whole Foods (WFM) as a good candidate. Deutsche keeps a Buy rating on American Express with a $90 price target.
07:12 EDTJPM, CBarclays expected to face over GBP250M in fines for rigging, Telegraph says
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06:15 EDTCCiti divests 16% stake in Grupo Aeromexico, Reuters reports
Citigroup (C) has sold its 16% stake in Grupo Aeromexico, the Mexican airline says, Reuters reports. According to the airline, Barclays Capital (BCS) acquired about 8% of shares through a financial operation with Delta (DAL). Reference Link
May 15, 2015
16:32 EDTWFC, USBBerkshire Hathaway gives quarterly update on stakes
NEW STAKES: None. INCREASED STAKES: IBM (IBM), Precision Castparts (PCP), Wells Fargo (WFC), Phillips 66 (PSX), and US Bancorp (USB). DECREASED STAKES: National Oilwell Varco (NOV), Viacom (VIAB), Bank of New York Mellon (BK), MasterCard (MA), and Visa (V). LIQUIDATED STAKES: None.
16:01 EDTBACOptions Update; May 15, 2015
iPath S&P 500 VIX Short-Term Futures down 20c to 20.06 Option volume leaders: AAPL BAC FB NFLX TWTR BABA CSCO TSLA MU GILD T MSFT AMZN MCD
14:07 EDTCCiti reports April credit loss 2.78% vs. 2.50% last month
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12:13 EDTCThird Point gives quarterly update on stakes
NEW STAKES: Yum! Brands (YUM), NXP Semiconductors (NXPI), FedEx (FDX), McKesson (MCK), and J M Smucker (SJM). INCREASED STAKES: Actavis (ACT), Roper Technologies (ROP), Delta Air Lines (DAL), and FleetCor Technologies (FLT). DECREASED STAKES: Ally Financial (ALLY), Amgen (AMGN), Phillips 66 (PSX), eBay (EBAY), and Anheuser Busch Inbev SA (BUD). LIQUIDATED STAKES: Alibaba Group (BABA), Citigroup (C), EMC Corporation (EMC), Anglo American (AAL), and Williams Companies (WMB).
12:03 EDTAXPAmerican Express reports April net write-off rate 1.5% vs. 1.5% last month
Reports April 30 days past due loans 0.9% vs. 1.0% last month.
10:47 EDTJPMNCR Corp. working with JPMorgan on sale, dealReporter says
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10:15 EDTBACBank of America reports April default rate 2.93% vs. 2.94% last month
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09:03 EDTUSBU.S. Bank, REI renew mutli-year contract
U.S. Bank (USB) announces the long-term renewal of its co-brand partnership with REI and the launch of the new REI World MasterCard. Under the agreement, the new REI co-branded credit cards will offer members more opportunities to earn through everyday purchases. The card portfolio will be converted to MasterCard (MA) with EMV chip-card technology, better protecting members from card-present counterfeit fraud.
08:28 EDTDFSDiscover reports April net charge-offs 1.7% vs. 1.71% last month
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07:50 EDTC, JPMDOJ tearing up prior UBS rigging settlement after new violations, WSJ reports
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06:18 EDTJPMJPMorgan reports April Net Credit Losses 2.34% vs. 2.61% last month
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06:17 EDTBACBank of America CEO still struggles to move past financial crisis, WSJ reports
Five years into his job as Bank of America CEO, Brian Moynihan is still struggling to move past the financial crisis, which is testing his reputation as a "fixer" as well as the patients of investors who are concerned about his progress in turning the bank around, The Wall Street Journal reports. Reference Link
06:05 EDTCOFCapital One reports April net charge-off rate 3.66% vs. 3.63% last month
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