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Stock Market & Financial Investment News

News Breaks
June 25, 2014
14:32 EDTBAC, GS, JPM, WFC, MS, C, USBOCC 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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August 20, 2015
06:07 EDTMS, C, GSSamsung Bioepis picks Citi, Goldman as lead managers for IPO, Reuters says
Samsung Bioepis has selected Citigroup (C) and Goldman Sachs (GS) as the lead managers for its planned listening on Nasdaq next year, a source tells Reuters. Morgan Stanley (MS) and Credit Suisse (CS) will also take part in the listing for Samsung's (SSNLF) biosimilar drug development arm, the source says. Reference Link
05:48 EDTWFCStocks with implied volatility movement; WFC XLI
Stocks with implied volatility movement; Wells Fargo (WFC) 16, Industrial Select Sector SPDR (XLI) 18 according to iVolatility.
August 19, 2015
17:37 EDTBACFINRA investigates Merrill Lynch over money laundering employee, Reuters says
The Financial Industry Regulatory Authority has been investigating Bank of America Merrill Lynch over a former employee who earlier pleaded guilty to an insider-trading and money laundering scheme, reports Reuters, citing a source familiar with the matter. FINRA could resort to enforcement action against the company, likely citing a breach of money laundering laws, according to the sources. Reference Link
17:12 EDTUSBU.S. Bancorp initiated with a Neutral at Sterne Agee CRT
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16:00 EDTBACOptions Update; August 19, 2015
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14:42 EDTGS, JPM, MSBanks cooperate on data company to lower costs, WSJ says
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14:25 EDTGSCoca-Cola has option for outright purchase of Suja, Bloomberg says
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10:58 EDTCCiti to pay $15M to settle SEC charges of compliance, surveillance failures
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10:06 EDTCCiti reports July credit loss 2.33% vs. 2.49% last month
Reports July delinquencies 1.46% vs. 1.42% last month.
09:33 EDTBACActive equity options trading on open
Active equity options trading on open: AAPL BAC FB BA TWTR NFLX WMT BABA
06:24 EDTCCiti to give back additional $4.5M in fee overcharges, Reuters reports
Citigroup subsidiary Citigroup Global Markets has reached an agreement with the New York attorney general to return $4.5M in account management fees charged on roughly 15,000 frozen accounts, Reuters reports. As a result of the deal, more than $20M will be refunded to Citi customers for overcharges in a probe started by New York attorney general Eric Schneiderman, the report says. Reference Link
August 18, 2015
17:35 EDTWFCWells Fargo to build additional car loan branches, Reuters says
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16:58 EDTJPMJPMorgan in talks to settle investment bias charges for $150M, WSJ says
JPMorgan is in advanced discussions with the SEC to settle allegations that it inappropriately guided clients to its own investment products, reports the Wall Street Journal, citing people familiar with the matter. Reference Link
16:00 EDTBACOptions Update; August 18, 2015
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13:14 EDTGSNY court rules Goldman must face Abacus suit, Bloomberg reports
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08:06 EDTCCiti sells alternative investor services unit to SS&C
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08:02 EDTCSS&C acquires Citi's alternative investor services business
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07:56 EDTCCiti reports July credit loss 2.33% vs. 2.49% last month
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06:45 EDTGSNine banks agree to $2B settlement for currency market rigging, FT says
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06:42 EDTGSGoldman buys stake in Piramal Realty, WSJ reports
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