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Stock Market & Financial Investment News

News Breaks
April 10, 2014
13:43 EDTBEN, BLK, TROW, ITG, ICE, NDAQFidelity to pitch new lost cost trading venue to large asset managers, WSJ says
Fidelity is working on a new trading venue, dubbed "Sakura," that it hopes will be a collaboration among big mutual-fund firms to reduce costs and streamline trading and will be an improvement over other "dark pools," reported The Wall Street Journal, citing people with knowledge of the matter. The report said Fidelity is in the initial planning stages and has just started pitching the idea to other large asset managers. Publicly traded fund managers include BlackRock (BLK), Franklin Resources (BEN) and T. Rowe Price (TROW), while Investment Technology Group (ITG) currently operates dark pools that facilitate block trading among large institutions. Exchange operators Nasdaq (NDAQ) and Intercontinentalexchange's (ICE) NYSE have previously testified to legislators that too much trading occurs in dark pools, hurting investors. Reference Link
News For NDAQ;ICE;ITG;BLK;BEN;TROW From The Last 14 Days
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November 24, 2014
06:47 EDTICEIntercontinentalExchange completes Liffe transition to ICE
Intercontinental Exchange announced that it has successfully completed the Liffe futures and options transition to ICE Futures Europe. The final phase of the Liffe transition was completed with the equity derivatives complex transferring to the ICE platform, following the previous migrations of European interest rate derivatives and soft commodity contracts.
November 21, 2014
10:00 EDTBLKOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Best Buy (BBY) upgraded to Outperform from Market Perform at Telsey Advisory... BlackRock (BLK) upgraded to Outperform from Market Perform at Bernstein... Cerner (CERN) upgraded to Outperform from Market Perform at Cowen... Community Health (CYH) upgraded to Outperform from Market Perform at Raymond James... Lockheed Martin (LMT) upgraded to Neutral from Sell at UBS... Teekay Offshore Partners (TOO) upgraded to Buy from Neutral at Citigroup... Trinity Industries (TRN) upgraded to Buy from Neutral at Longbow... Zebra Technologies (ZBRA) upgraded to Overweight from Neutral at JPMorgan... Ross Stores (ROST) upgraded to Hold from Sell at Maxim... St. Jude Medical (STJ) upgraded to Outperform from Market Perform at Cowen... Wolverine World Wide (WWW) upgraded to Buy from Neutral at DA Davidson... D.R. Horton (DHI) upgraded to Market Perform from Underperform at Raymond James... KB Home (KBH) upgraded to Market Perform from Underperform at Raymond James... Sony (SNE) upgraded to Overweight from Neutral at JPMorgan.
08:53 EDTBENFranklin Resources downgraded at Bernstein
As noted earlier, Bernstein downgraded Franklin Resources to Market Perform from Outperform. As reasons for the downgrade, the firm cited slowing fundamental momentum and lack of visibility and catalysts. Target to $60 from $65.
08:50 EDTBLKBlackRock upgraded at Bernstein
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November 20, 2014
16:09 EDTBENFranklin Resources downgraded to Market Perform from Outperform at Bernstein
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16:09 EDTBLKBlackRock upgraded to Outperform from Market Perform at Bernstein
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07:11 EDTBLKBofA/Merrill to hold a conference
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November 19, 2014
07:47 EDTITG, ICE, NDAQKeefe Bruyette to hold a conference
Securities Brokerage & Market Structure Conference is being held in New York on November 19 with webcasted company presentations to begin at 7:45 am. Webcast Link
November 12, 2014
09:36 EDTBLKInformation Management Network to hold a symposium
Private Label RMBS Reform Symposium is being held in New York on November 12.
08:13 EDTNDAQBoston Biotech to hold a conference
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06:50 EDTBLKBlackRock to reorganize sales force, Reuters reports
BlackRock is dividing its sales force into two groups: wirehouses and independent broker dealers, starting in January, according to Reuters, which cited a memo it obtained. The company also hired Lee Beck, a former managing director with J.P. Morgan Funds, to oversee sales to wirehouses, the news service stated. Reference Link
November 10, 2014
16:40 EDTBENFranklin Resources reports $898.4B under management at October 31
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08:13 EDTITGITG reports Oct. average daily trading volume 206M shares
ITG announced that October 2014 U.S. trading volume was 4.7B shares and average daily volume, or ADV, was 206M shares. This compares to 3.4B shares and ADV of 161M shares in September and 3.5B shares and ADV of 151M shares in October 2013. There were 23 trading days in both October 2014 and October 2013 and 21 trading days in September 2014.
07:08 EDTICE, BLKCredit Suisse to hold a conference
2014 Boston Financials 1:1 Conference to be held in Boston on November 10-11.

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