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Stock Market & Financial Investment News

News Breaks
June 25, 2014
14:32 EDTJPM, WFC, MS, C, USB, BAC, GSOCC sees signs of credit risk building in banking system
While conditions overall showed improvement in the second half of 2013, the OCC reports in its Spring 2014 Semiannual Risk Perspective that credit risk is building in supervised national banks and federal savings associations following a period of improving credit quality and problem loan clean-up. In the report the OCC stated: "The OCC sees signs that credit risk is now building after a period of improving credit quality and problem loan clean-up. Examiners have observed erosion in the underwriting standards for syndicated leveraged loans, as well as loosening of standards and increased layering of risk in the indirect auto market. Recent examinations of commercial loan portfolios have identified an increase in policy and underwriting exceptions, including some examples of risk layering, e.g., increasing collateral advance rates, waiving or loosening of guarantees, and more liberal repayment terms such as extended periods of interest-only payments." Publicly traded companies in the space 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
News For MS;GS;USB;WFC;BAC;C;JPM From The Last 14 Days
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July 16, 2015
09:45 EDTGSGoldman Sachs: Potential share repurchases to be back-end weighted
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09:39 EDTGSGoldman Sachs says FICC faced 'difficult operating environment' in Q2
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09:35 EDTC, BACActive equity options trading on open
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09:08 EDTC, GSOn The Fly: Pre-market Movers
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08:58 EDTCCiti says 'tracking well' to 2015 financial targets
Citigroup says "tracking well" to its 2015 financial targets, with modest revenue growth and positive operating leverage in Citicorp; says Citicorp had efficiency ratio of 55%, Citigroup ROA of 103 bps in 1H15. Says Q2 results show continued progress in challenging environment. Says gaining wallet share, improving efficiency of core franchise, winding down non-core assets, maintaining balance sheet discipline, utilizing deferred tax assets. Comments from slides that will be presented on the Q2 earnings conference call.
08:17 EDTMSMorgan Stanley July weekly volatility elevated into Q2 and outlook
Morgan Stanley July weekly call option implied volatility is at 25, August is at 21, October is at 20 compared to its 52-week range of 16 to 34, suggesting large near term price movement into the expected release of Q2 results on July 20.
08:06 EDTBACBank of America expense savings run-rate sustainable, says Morgan Stanley
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08:04 EDTCCiti reports Q2 Citicorp revenue $17.8B, up 2% from a year ago
Reports Q2 Global Consumer Banking revenue $8.5B. ICG revenues increased 6% from the prior year period to $8.9B. Citi Holdings revenues of $1.7B in the second quarter 2015 included CVA/DVA of $9M, compared to negative $1M in the prior year period.
08:03 EDTCCiti reports book value per share of $68.27 at end Q2
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08:02 EDTCCiti CEO says Q2 results show 'very balanced performance' across business lines
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08:01 EDTCCiti reports Q2 common equity tier 1 capital ratio 11.4%
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08:00 EDTCCiti reports Q2 EPS ex-CVA/DVA $1.45, consensus $1.34
Reports Q2 revenue $19.5B, consensus $19.11B. CVA/DVA was $312M, or $196M, in the second quarter 2015, compared to negative $33M in the prior year period. Second quarter 2014 results also included the impact of a $3.8B charge, or $3.7 billion after-tax, to settle legacy RMBS and CDO-related claims.5 Excluding CVA/DVA, revenues were $19.2B, down 2% from the prior year period. Excluding CVA/DVA and the impact of the mortgage settlement in the prior year period, earnings were $1.45 per diluted share, up 17% from prior year earnings of $1.24 per diluted share. Including CVA/DVA, EPS was $1.51.
07:42 EDTGSGoldman says recorded $1.45B in provisions for litigation, regulatory matters
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07:41 EDTGSGoldman Sachs reports Q2 investment management revenue up 14% to $1.65B
Net revenues in Investment Management were $1.65B for the second quarter of 2015, 14% higher than the second quarter of 2014 and 4% higher than the first quarter of 2015. The increase in net revenues compared with the second quarter of 2014 was due to significantly higher incentive fees, as well as higher management and other fees and transaction revenues. During the quarter, total assets under supervision increased $5 billion to $1.18T. Long-term assets under supervision increased $11B, including net inflows of $14B and net market depreciation of $3B, both primarily in fixed income assets. Liquidity products decreased $6B.
07:40 EDTGSGoldman Sachs reports Q2 institutional client services revenue $3.6B
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07:39 EDTGSGoldman Sachs reports Q2 investment banking revenue up 13% to $2.02B
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07:38 EDTGSGoldman Sachs CEO says 'pleased' with performance in Q2
"We are pleased with our performance for the quarter,” said Lloyd C. Blankfein, Chairman and CEO. “While uncertainty in the EU weighed on investors’ level of conviction, many of our businesses continued to benefit from generally improving economic conditions and healthy client activity.”
07:38 EDTGSGoldman Sachs reports Q2 EPS $4.75 ex-items, consensus $3.89
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07:37 EDTGSGoldman Sachs reports Common Equity Tier 1 ratio 11.8% at June 30
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07:36 EDTGSGoldman Sachs reports Q2 EPS $1.98, consensus $3.89
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