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Stock Market & Financial Investment News

News Breaks
March 11, 2013
10:11 EDTMT, NXPI, REN, ROVI, TDG, SFD, SNCR, MOS, GNW, FSYS, MTH, MAS, MAIN, AHL, BBVA, BBY, B, BDSI, CNX, CTCM, CLD, C, OLNOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: ArcelorMittal (MT) upgraded to Buy from Neutral at UBS... Aspen Insurance (AHL) upgraded to Outperform from Neutral at Credit Suisse... Banco Bilbao (BBVA) upgraded to Hold from Sell at Societe Generale... Barnes Group (B) upgraded to Buy from Hold at KeyBanc... Best Buy (BBY) upgraded to Overweight from Neutral at Piper Jaffray... BioDelivery Sciences (BDSI) upgraded to Overweight from Neutral at Piper Jaffray... CONSOL Energy (CNX) upgraded to Outperform from Market Perform at BMO Capital... CTC Media (CTCM) upgraded to Neutral from Underperform at Credit Suisse... Citigroup (C) upgraded to Buy from Neutral at UBS... Cloud Peak Energy (CLD) upgraded to Outperform from Market Perform at BMO Capital... Main Street (MAIN) upgraded to Outperform from Neutral at RW Baird... Masco (MAS) upgraded to Outperform from Sector Perform at RBC Capital... Meritage Homes (MTH) upgraded to Strong Buy from Buy at ISI Group... NXP Semiconductors (NXPI) upgraded to Positive from Neutral at Susquehanna... Resolute Energy (REN) upgraded to Buy from Hold at Wunderlich... Rovi (ROVI) upgraded to Overweight from Neutral at Piper Jaffray... Smithfield Foods (SFD) upgraded to Neutral from Underperform at BofA/Merrill... TransDigm (TDG) upgraded to Buy from Hold at Deutsche Bank... Synchronoss (SNCR) upgraded to Outperform from Market Perform at Avondale... Mosaic (MOS) upgraded to Outperform from Sector Perform at Scotia Capital... Genworth (GNW) upgraded to Outperform from Underperform at Scotia Capital... Synchronoss (SNCR) upgraded to Outperform from Market Perform at Avondale... Fuel Systems (FSYS) upgraded to Neutral from Underperform at Macquarie... Olin Corp. (OLN) upgraded to Buy from Neutral at Monness Crespi.
News For MT;AHL;BBVA;BBY;B;BDSI;CNX;CTCM;CLD;C;MAIN;MAS;MTH;NXPI;REN;ROVI;TDG;SFD;SNCR;MOS;GNW;FSYS;OLN From The Last 14 Days
Check below for free stories on MT;AHL;BBVA;BBY;B;BDSI;CNX;CTCM;CLD;C;MAIN;MAS;MTH;NXPI;REN;ROVI;TDG;SFD;SNCR;MOS;GNW;FSYS;OLN the last two weeks.
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July 14, 2014
09:38 EDTCCitigroup says headwinds abating in Global Consumer Banking
Says Q2 Markets revenues were impacted by low volatility, ongoing macro uncertainty. Says results showing progress despite difficult operating environment. Says seeing continued underlying growth in Treasury & Trade Solutions. Comments from slides that will be presented on the Q2 earnings conference call.
09:36 EDTCActive equity options trading on open
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09:18 EDTNXPINXP Semiconductors to benefit from EMV proliferation, says Sterne Agee
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09:16 EDTCOn The Fly: Pre-market Movers
HIGHER: Citigroup (C), up 3.6% after reporting better than expected Q2 results, announcing $7B settlement with DOJ and FDIC... Apple (AAPL), up 0.7% after Barclays upgrades stock to Overweight, Morgan Stanley raises Apple estimates above consensus... Shire (SHPG), up 1.6% after receiving revised proposal from AbbVie (ABBV) of GPB 53.20 per share, which it says it would be willing to recommend to Shire shareholders. AbbVie is down 2.8% after the news... Mylan (MYL), up 4% after acquiring Abbott's (ABT) non-U.S. developed markets specialty and branded generics business in all-stock transaction valued at about $5.3B. Abbott up 1.6% after the news... Progenics (PGNX), up 13% after FDA says RELISTOR can be approved on data submitted in sNDA... Exelixis (EXEL), up 13% after announcing coBRIM Phase 3 trial met primary endpoint... URS (URS) up 8% after acquired by AECOM Technology (ACM) for $56.31 per share. AECOM shares alos up 2% after deal announcement... Whiting Petroleum (WLL), up 4.5% after agreeing to acquire Kodiak Oil & Gas (KOG) in a $6B transaction. Kodiak Oil & Gas up 3%... Kandi Technologies (KNDI), up 11% after announcing JV's sale of 4,114 EVs in Q2. LOWER: Riverbed (RVBD), down 4.5% after saying it sees its Q2 adjusted EPS at low end of 26c-28c range... Harmonic (HLIT), down 13% after reporting preliminary Q2 earnings results.. EBay (EBAY), down 0.5% after downgraded at Pacific Crest, confirming partnership plans with Sotheby's (BID).
08:33 EDTCNXCONSOL management to meet with Brean Capital
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08:32 EDTSNCRSynchronoss acquires Voxmobili for $26M in cash
Synchronoss (SNCR) announced its acquisition of Voxmobili, a wholly owned subsidiary of OnMobile Global. Voxmobili’s customers include AT&T (T), Airtel, Everything Everywhere, France Telecom, Orange (ORAN), T-Mobile (TMUS), and Vodafone (VOD). In consideration for the acquisition, Synchronoss paid approximately $26M in cash to OnMobile Global.
08:07 EDTNXPINXP Semiconductors should be bought ahead of results, says Pacific Crest
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08:05 EDTCCitigroup reports Q2 Citi Holdings assets down 15% to $111B
Citi Holdings revenues in Q2 increased 33% versus the prior year period to $1.5B. Revenues in the second quarter 2014 included CVA/DVA of negative $1M compared to positive $15M in the prior year period. Excluding CVA/DVA, Citi Holdings revenues increased 35% to $1.5B primarily driven by the absence of repurchase reserve builds for representation and warranty claims in the current quarter, a higher level of gains on asset sales compared to the prior year and lower funding costs. As of the end of the quarter, total Citi Holdings assets were $111B, 15% below the prior year period, and represented approximately 6% of total Citigroup assets.
08:03 EDTCCitigroup reports Q2 Citicorp revenue $17.88B
Reports Q2 Citicorp revenues of $17.9B declined 8% from the prior year period. CVA/DVA, reported within ICG, was negative $32M in Q2, or negative $20M after-tax, compared to positive $462M, or $284M after-tax, in the prior year period. Excluding CVA/DVA, revenues were down 5% from Q213, reflecting declines in both GCB and ICG revenues of 3% and 7%, respectively. GCB revenues of $9.4B declined 3% from the prior year period, as lower U.S. mortgage refinancing activity, regulatory changes, repositioning actions in certain markets and the continued impact of spread compression globally more than offset the impact of the Best Buy portfolio acquisition and ongoing volume growth in most international businesses. ICG revenues declined 11% from the prior year period to $8.5B. Excluding the impact of CVA/DVA, revenues were $8.5B, 7% lower than the prior year period, primarily reflecting a decline in Fixed Income Markets and Equity Markets revenues, partially offset by higher Investment Banking revenues.
08:03 EDTCCitigroup CEO: Businesses showed resilience during uneven economic environment
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08:02 EDTCCitigroup reports Q2 allownace for loan losses $17.9B
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08:01 EDTCCitigroup reports Basel III Tier 1 Common ratio 10.6% at quarter end
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07:59 EDTCCitigroup reports Q2 EPS $1.24 ex-items, consensus $1.05
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07:05 EDTCCitigroup to settle DOJ, FDIC claims for $7B
07:03 EDTCCitigroup CEO: Settlement in best interests of shareholders
07:02 EDTCCitigroup CEO says has resolved substantially all legacy RMBS, CDO litigation
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07:01 EDTCCitigroup to take charge of approximately $3.8B pre-tax in Q2
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07:01 EDTCCitigroup to settle DOJ, FDIC claims for $7B
Citigroup announced that it has reached an agreement to settle the ongoing investigation of the Residential Mortgage-Backed Securities Working Group, part of the Financial Fraud Enforcement Task Force. Today’s agreement resolves actual and potential civil claims by the U.S. Department of Justice, several state attorneys general and the Federal Deposit Insurance Corporation relating to RMBS and collateralized debt obligations (CDOs) issued, structured or underwritten by Citi between 2003 and 2008. Under the terms of the settlement, Citigroup will pay a total of $4.5B in cash and provide $2.5B in consumer relief. The cash portion consists of a $4 billion civil monetary payment to the DOJ and $500M in compensatory payments to the State AGs and the FDIC. The consumer relief will be in the form of financing provided for the construction and preservation of affordable multifamily rental housing, principal reduction and forbearance for residential loans, as well as other direct consumer benefits from various relief programs. Citigroup has agreed to provide the consumer relief by the end of 2018. Michael Corbat, CEO of Citigroup, said, “The comprehensive settlement announced today with the U.S. Department of Justice, state attorneys general, and the FDIC resolves all pending civil investigations related to our legacy RMBS and CDO underwriting, structuring and issuance activities. We also have now resolved substantially all of our legacy RMBS and CDO litigation. We believe that this settlement is in the best interests of our shareholders, and allows us to move forward and to focus on the future, not the past.”
07:00 EDTCCitigroup announces settlement with RMBS Working Group
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July 13, 2014
20:31 EDTCCitigroup's $7B U.S settlement on mortgages expected Monday, Reuters says
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