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Stock Market & Financial Investment News

News Breaks
May 13, 2014
14:50 EDTMHGC, MSMorgans Hotel retains Morgan Stanley to assist in review of alternatives
Morgans Hotel Group (MHGC) disclosed that at the beginning of the year, the Morgans Board of Directors formed a special transaction committee to evaluate a full range of alternatives, including the potential sale or merger of the Company. Earlier this month the committee retained Morgan Stanley & Co. (MS) as its financial advisor to assist the company in exploring a full range of strategic alternatives. Jason T. Kalisman, Morgans' Chairman of the Board, stated: "As fiduciaries, Morgans' Board is committed to maximizing value for our stockholders and, as we have consistently stated, the Board is constantly exploring all opportunities to do what is right for all stockholders. This has always included evaluating transactions as large as a potential sale or merger but undertaken from a position of strength and flexibility. The engagement of Morgan Stanley to assist the committee in its strategic review allows the committee to draw on the insight and experience of a leading investment bank. Our stockholders have voiced their desire to know where the Board stands on these issues, and thus we felt it appropriate to share the fact that we had already taken the step of retaining advisors as we undergo the strategic review process."
News For MS;MHGC From The Last 14 Days
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October 6, 2015
07:24 EDTMSbloomberg to hold a summit
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October 5, 2015
17:22 EDTMHGCMorgans Hotel enters settlement agreement with mortgage lenders
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14:46 EDTMSGoogle takes stake in financial messaging start-up Symphony, WSJ reports
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06:53 EDTMSAverage ATM fees reach $4.52, WSJ says
The average ATM fee rose to $4.52 this year as regulators have pressured banks to reduce other fees and consumers aren't using ATMs as frequently as in the past, reports the Wall Street Journal, citing a Bankrate Inc. survey. Publicly traded companies in the space include Bank of America (BAC), Citi (C), Goldman Sachs (GS), JPMorgan (JPM), Morgan Stanley (MS), U.S. Bancorp (USB), Wells Fargo (WFC), and Cardtronics (CATM). Reference Link
October 2, 2015
13:26 EDTMSBanks, brokers slide as weak jobs report pushes out rate hike
Shares of banks and brokers are sliding after a weak jobs report pushed out the probability of near-term rate hike. WHAT'S NEW: Friday morning, the Labor Department reported that the U.S. economy added only 142,000 jobs in September compared to economists expectations of 203,000. The Labor Department's September jobs report strengthened the argument that the Fed will not raise rates in October, and even lessened the probability of a December rate hike. An increase in interest rates would let banks and brokers benefit from higher spreads on deposits. PRICE ACTION: Shares of Bank of America (BAC), Citigroup (C), Goldman Sachs (GS), JPMorgan (JPM), Morgan Stanley (MS), U.S. Bancorp (USB), and Wells Fargo (WFC) are all declining despite a rebound in the broad market. OTHERS TO WATCH: Shares of online brokers, including TD Ameritrade (AMTD), Charles Schwab (SCHW), E*TRADE (ETFC), and Interactive Brokers (IBKR) are also lower in afternoon trading.
06:37 EDTMSMorgan Stanley shakeup give insight into Gorman's plan, WSJ says
Morgan Stanley promoted two of its rising stars to larger roles while diminishing the responsibilities of one of its most prominent executives, Gregory Fleming, the Wall Street Journal reports. Moving Edward Pick and Dan Simkowitz to global head of sales and trading and head of Fleming's investment management unit, respectively, show CEO James Gorman's goal to make the firm's transition to new management less tumultuous than in years' past, the report says. Reference Link
October 1, 2015
19:10 EDTMSJPMorgan to pay $595M in credit-default swap suit, Bloomberg says
JPMorgan (JPM) is set to pay $595M to settle allegations that major banks as well as Markit (MRKT) colluded to control information in the credit-default swaps market, reports Bloomberg, citing people briefed on the matter. Morgan Stanley (MS), Barclays (BCS), and Goldman Sachs (GS) will pay a respective $230M, $175M, and $164M, sources told Bloomberg. Reference Link
08:00 EDTMSSecurity Traders Association to hold a conference
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September 30, 2015
07:46 EDTMSFed liftoff may be more turbulent for banks than expected, WSJ says
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September 29, 2015
09:22 EDTMSMorningstar to hold a conference
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September 28, 2015
06:20 EDTMSCOMCO probing UBS, Julius Baer for metals market price fixing, AFP reports
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September 25, 2015
13:20 EDTMSGoldman Sachs hires Morgan Stanley trader, Business Insider reports
Goldman Sachs (GS) has hired Adam Savarese, a former trader at Morgan Stanley (MS), as a partner at its debt trading desk, Business Insider reports, citing people familiar with the matter. Savarese will work with partner Tom Tormey, the report says. Reference Link
September 24, 2015
08:23 EDTMSMorgan Stanley to participate in a discussion with 92Y
David Darst, Chief Investment Strategist at Morgan Stanley, along with Claire b. Benenson, a former mutual funds director, discuss the outlook for the U.S. and the global economy, inflation/deflation and corporate profits, in a discussion entitled, "Asset Allocation and Investment Strategy for 2016 and Beyond" being held in New York on September 24 at 8:15 pm.
07:10 EDTMSBanks clash with regulators over energy lending, WSJ reports
Banks are fighting with regulators over loan reviews that might compress the flow of net credit to the oil patch, the Wall Street Journal reports. The disagreement is focused on the narrow issue of loans secured by oil and gas companies' reserves, but it highlights the point of how postcrisis regulation of the financial industry impacts sectors outside of Wall Street, the report says. Caught in between banks and regulators are the small and medium exploration and production companies that rely on credit lines using their energy reserves as collateral, the report says. Publicly traded companies in the space include Bank of America (BAC), Citi (C), Goldman Sachs (GS), JPMorgan (JPM), Morgan Stanley (MS), U.S. Bancorp (USB) and Wells Fargo (WFC). Reference Link

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