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Stock Market & Financial Investment News

News Breaks
January 31, 2014
06:43 EDTBAC, UBS, DB, RBS, C, USB, ING, LYG, CS, GS, JPM, MS, BCS, SAN, HSBC, WFCBanks may be hit with tougher capital rules, NY Times reports
The Basel Committee on Bank Supervision could place further restrictions on the amount of borrowed money that banks are allowed to use to do business, the head of the committee hinted, The New York Times reported yesterday afternoon. American regulators and many experts have supported the idea of implementing tougher capital requirements for banks, the newspaper noted. Reference Link
News For MS;USB;BAC;JPM;C;WFC;GS;RBS;HSBC;CS;DB;SAN;LYG;UBS;BCS;ING From The Last 14 Days
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January 14, 2015
08:10 EDTWFCWells Fargo CFO says credit quality continued to improve in Q4
Wells Fargo CFO John Shrewsberry said, “Our performance in the fourth quarter was a great example of the benefit of our diversified business model and reflected a continuation of the solid results we generated all year. Compared with the prior quarter, we increased deposits and grew commercial and consumer loans while maintaining our risk and pricing discipline. Revenue increased as net interest income benefited from loan growth and the prudent deployment of our liquidity. Fee income remained strong and diversified. Credit quality continued to improve. We also maintained strong capital and liquidity, and returned more capital to shareholders in the quarter."
08:09 EDTWFCWells Fargo reports Q4 net interest margin 3.04%
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08:03 EDTWFCWells Fargo reports Q4 net charge-offs $735M, provision for credit losses $485M
Reports Common Equity Tier 1 ratio under Basel III of 10.44%. Reports Q4 ROE 12.841%, ROA 1.36%.
08:01 EDTWFCWells Fargo reports Q4 EPS $1.02, consensus $1.02
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07:51 EDTJPMJPMorgan says Q4 EPS negatively impacted 26c by legal expense
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07:34 EDTBACNew rules prompt BofA to sever ties with 150 hedge funds, Bloomberg reports
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07:31 EDTGSGoldman Sachs volatility increases into Q4 and outlook
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07:20 EDTJPMJPMorgan reports Q4 results include $990M after-tax legal expense
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07:10 EDTJPMJPMorgan Q4-end book value per share $57.07
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07:06 EDTJPMJPMorgan reports Q4 core loans up 8% compared with the prior year
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07:05 EDTJPMJPMorgan reports Q4 mortgage originations improved sequentially
CEO Jamie Dimon said: “Our businesses continue to demonstrate strong momentum and expense discipline. Consumer & Community Banking delivered impressive growth in deposits and investment assets in the fourth quarter and throughout 2014, while outperforming its expense reduction target for the year. Mortgage originations improved sequentially in the fourth quarter, despite a seasonally slow quarter. Our Card business delivered double-digit sales volume growth, outpacing the industry for the 27th consecutive quarter. Auto had a good quarter and the pipeline remains strong. The Corporate & Investment Bank saw strong performance in fees, maintaining its #1 position in Global IB fees in 2014 with particular strength in Europe, although Markets remained somewhat challenged. Commercial Banking grew period-end loans 8% versus the prior year and Commercial Banking clients generated record investment banking revenues for the quarter and the year. Lastly, Asset Management had over $80B of net long-term inflows for the second consecutive year and overall AUM grew 9% this quarter compared to the prior year.”
07:03 EDTJPMJPMorgan reports Q4 provision for credit losses $840M
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07:00 EDTJPMJPMorgan reports Q4 EPS $1.19, consensus $1.31
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06:57 EDTBAC, BCSBarclays appoints Jonathan Moulds as Group COO
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06:49 EDTCSCredit Suisse downgraded to Neutral from Overweight at HSBC
HSBC downgraded Credit Suisse to Neutral citing the bank's "relatively weak" equity leverage ratio and risk from additional U.S. mortgage litigation.
06:45 EDTJPMJPMorgan downgraded to Underweight from Neutral at HSBC
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06:44 EDTCS, LYG, DB, BCS, ING, RBS, SAN, HSBC, UBSTop court official backs ECB bond buying, NY Times reports
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06:37 EDTRBSRBS has shortlisted Sarasin, DBS consortium for Coutts Intl sale, Reuters says
J Safra Sarasin and a consortium comprising of DBS Group are among the banks shortlisted for the second round sale process of RBS' Coutts International, reports Reuters. According to people familiar with the matter, no firm date has been set for the final bids although all the shortlisted parties have commenced due diligence. Reference Link
06:36 EDTGSGoldman Sachs Q4 profit reduced by loan write-down, Reuters says
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06:04 EDTCCiti appoints CD Davies head of global Mortgage business
Citi yesterday announced that CD Davies has been appointed Head of Citi’s Mortgage business globally. Davies joined Citi in March 2014. He will continue to report to Jane Fraser, CEO of CitiMortgage and U.S. Consumer and Commercial Banking. Davies was previously President and CEO of Wachovia Mortgage Corporation.
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