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Stock Market & Financial Investment News

News Breaks
March 20, 2014
07:15 EDTODP, TYC, MSFormer Morgan broker-dealer linked to alleged insider trading, WSJ says
U.S. prosecutors say three men, including former Morgan Stanley broker-dealer Vladimir Eydelman, used information mined from a New York mergers-and-acquisitions law firm to run an insider trading ring, reported The Wall Street Journal. The three used inside information to trade in shares of Tyco (TYC) and Office Depot (ODP) prior to deals, the story noted. Reference Link
News For MS;TYC;ODP From The Last 14 Days
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January 20, 2015
10:58 EDTMSMorgan Stanley reports 6.1% passive stake in Madison Square Garden
10:47 EDTODPStaples says will consider 'all actions' that would create shareholder value
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10:23 EDTODPStarboard says Staples should explore merger with Office Depot
Starboard Value, one of the largest shareholders of Staples (SPLS), confirmed, as previously reported, that it has delivered a letter to Ronald Sargent, Chairman and CEO of Staples, and the board of directors of Staples. In the letter, Starboard states in part: "As we discussed in our recent meeting, we believe that the best way to maximize value for Staples' shareholders is through exploring and completing a business combination with Office Depot (ODP). For a variety of reasons, we believe that now is the right time to pursue such a transaction, and we urge you to immediately retain a reputable investment bank and legal advisors to assist the Board in evaluating, structuring and executing a transaction with Office Depot. We believe that a strategic combination of Staples and Office Depot would result in synergies that would more than double the operating profits of the combined company and would create an industry-leading office supply retailer that could more effectively compete against larger retailers and online competitors. The magnitude of value creation from such a business combination far exceeds anything that either company could achieve on a standalone basis. We believe that the evidence is clear that shareholders are broadly supportive of a transaction between Staples and Office Depot. As shown in the chart below, since the merger speculation began last September, Staples' share price has risen over 50%, strongly outperforming the S&P 500...After the recent increase in Staples' share price, we believe the stock now trades at a substantial premium to the intrinsic value of the standalone company. This results in a lower cost of capital for Staples and a stronger currency which could be used to acquire Office Depot. If Staples fails to fully explore and consummate a transaction with Office Depot, shareholders will undoubtedly be extremely disappointed...We understand that this will require cooperation from Office Depot, and we have already expressed to them our strong support for a transaction...Our sincere hope is that we can continue to have a constructive dialogue. However, if it becomes clear to us that you have no intention of seriously pursuing this unique and highly attractive opportunity, it would be a clear sign that significant leadership change is needed at Staples."
09:31 EDTODPActivist Starboard urging Staples, Office Depot to merge, WSJ reports
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09:14 EDTMSMorgan Stanley does not see lower oil hurting physical oil business sale process
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09:11 EDTMSOn The Fly: Pre-market Movers
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09:03 EDTMSMorgan Stanley says still committed to sale of oil and gas commodities business
08:59 EDTODPStarboard urged Staples to explore Office Depot merger, Bloomberg says
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08:50 EDTMSMorgan Stanley sees 'clear path' to ROE of 10%
Morgan Stanley sees driving ROE above 10% in Fixed Income and Commodities. On reduction and optimization of Risk-Weighted Assets in Fixed Income and Commodities, the firm said it is on track to achieve year end 2015 target of below $180B and sees additional capital opportunity through passive roll-down of $25B of RWAs by year-end 2018. Morgan Stanley sees a "meaningful reduction" in funding costs due to spread tightening and roll-off of older more expensive debt. For target Compensation/Net Revenue ratios, Morgan Stanley sees Institutional Securities 39% in 2015 in a flat revenue environment; sees Wealth Management 55% over time in a flat interest rate environment; and sees Investment Management 40% over time. Morgan Stanley intends to continue to increase its capital return to shareholders over time, subject to regulatory approval, the company noted. Comments and guidance from Q4 earnings conference call and slides.
07:08 EDTMSMorgan Stanley says Q4 affected by 'choppy market conditions'
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07:07 EDTMSMorgan Stanley reports Q4 book value of $34.62
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07:07 EDTMSMorgan Stanley Common Equity Tier 1 risk-based capital ratio 14.2%
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07:05 EDTMSMorgan Stanley reports Q4 continuing ops EPS 47c, consensus 48c
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07:02 EDTMSMorgan Stanley reports Q4 EPS ex-DVA 40c, consensus 48c
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January 16, 2015
13:51 EDTMSEarnings Preview: Morgan Stanley to report after lackluster results from peers
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12:10 EDTMSMorgan Stanley has an active bearish pattern ahead of earnings
There is an active bearish head and shoulders pattern on the daily chart that was confirmed on a move below $35.50. Ahead of earnings the question is whether news will halt and reverse the pattern, or accelerate its completion. If the news is as bearish as traders currently expect, the pattern may continue until it reaches completion at the $31 area. If the new is more bullish than the existence of the pattern itself suggests, then a move above $35.50 would neutralize the pattern. Upside objectives to watch would be at $36.13, and $38.09.
06:56 EDTMSMorgan Stanley volatility increases into Q4 and outlook
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05:57 EDTMSReinhart leaves Morgan Stanley as Chief U.S. economist, Bloomberg reports
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January 15, 2015
09:14 EDTMSMorgan Stanley naming new managing directors, sources say, Reuters reports
Morgan Stanley CEO James Gorman and other senior executives have been calling employees named to the new class of managing directors at the bank, Reuters reports, citing sources. The bank is expected to make an announcement today with the names of the new managing directors. In 2014, Morgan Stanley named 153 new managing directors. Reference Link
January 14, 2015
08:39 EDTTYCTyco says acquired assets of Grinnel, resolved disputes with historical insurers
Tyco said in a filing that as previously disclosed, during 4Q14, Tyco recorded a net charge of $465M related to asbestos liabilities, of which $225M related to Yarway Corporation liabilities and $240M related primarily to Grinnell. The company also disclosed that, in connection with claims primarily related to Grinnell, the company had resolved disputes with certain of its historical insurers and agreed that certain insurance proceeds would be used to establish and fund a qualified settlement fund, within the meaning of the Internal Revenue Code, which would be used for the resolution of certain of these liabilities. On January 9, 2015, the company completed a series of restructuring transactions related to the establishment and funding of a dedicated structure pursuant to which the company acquired the assets of Grinnell and transferred cash and other assets totaling approximately $278M, not including $22M received by the QSF from historic third-party insurers in settlement of coverage disputes, to the structure. As part of the restructuring, subsidiaries in the structure assumed certain liabilities related to historic Grinnell, Scott and Figgie operations, including all historical Grinnell asbestos liabilities, and such subsidiaries purchased additional insurance by, through or from a wholly-owned subsidiary in the structure in order to supplement and enhance existing insurance assets. The structure and the QSF fully fund all historic Grinnell asbestos liabilities and provide for the efficient and streamlined management of claims related thereto.
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