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Stock Market & Financial Investment News

News Breaks
January 7, 2013
12:29 EDTUSB, MET, WAC, PPHM, EPOC, STI, JPM, BAC, ACHN, SCTY, WFC, PNC, C, NSM, ESI, ATHNOn The Fly: Midday Wrap
Stocks on Wall Street were lower at midday, pushing the S&P 500 off the five-year high it reached Friday. The averages opened lower and remained there for the entire morning as a wave of banking news was reported but no market moving economic data was released... ECONOMIC EVENTS: In the U.S. no market moving economic data was reported... COMPANY NEWS: Bank of America (BAC) announced it will repurchase $6.75B worth of residential mortgage loans it sold to Fannie Mae and will pay $3.6B to settle claims related to certain residential mortgage loans. Bank of America also agreed to sell the servicing rights on about 2M residential mortgages with unpaid principal balances of approximately $306B to Nationstar Mortgage Holdings (NSM) and Walter Investment (WAC)... Separately from BofA's settlement with Fannie Mae, the Federal Reserve and the Office of the Comptroller of the Currency reached an agreement under which ten mortgage servicing companies will pay more than $8.5B in cash payments and other assistance to mortgage borrowers to settle claims of deficient practices in loan servicing and foreclosure processing. The regulators listed Bank of America, Citibank (C), JPMorgan Chase (JPM), MetLife Bank (MET), PNC (PNC), SunTrust (STI), U.S. Bank (USB) and Wells Fargo (WFC) among those participating but did not spell out the level of compensation to be paid by each... In other banking news, the Basel Committee on Banking Supervision made it easier for banks to meet the new "liquidity coverage ratio" rule and delayed its full implementation until 2019... MAJOR MOVERS: Among the notable gainers were Epocrates (EPOC), up over 21% after agreeing to be acquired by athenahealth (ATHN) for $11.75 per share in cash, and SolarCity (SCTY), which rose more than 10% after a number of research firms began covering the stock with Buy ratings. Also higher were shares of Peregrine Pharmaceuticals (PPHM), which advanced 72% after the company updated on its internal review of one of clinical trials and Roth Capital upgraded the stock to a Buy. Among the noteworthy losers was ITT Educational (ESI), which fell nearly 17% after reporting Friday night that it has entered into a settlement agreement and release with Sallie Mae and Credit Suisse lowered its price target on the stock in a note to investors this morning. Also lower were shares of Achillion (ACHN), down over 9% after reporting interim results on a trial of its treatment for a type of hepatitis C virus infection... INDICES: Near noon, the Dow was down 79.00, or 0.59%, to 13,356.21; the Nasdaq was down 10.87, or 0.35%, to 3,090.79; and the S&P 500 was down 8.64, or 0.59%, to 1,457.83.
News For NSM;BAC;WAC;C;JPM;MET;PNC;STI;USB;WFC;EPOC;ATHN;SCTY;PPHM;ESI;ACHN From The Last 14 Days
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February 3, 2016
12:35 EDTMETMetLife technical notes before earnings news
Ahead of earnings the downtrend that began in July 2015 has decelerated. The $40 level is a key support, below which a major topping pattern on a long-term chart would be confirmed. This would be bearish for longer-term future price. If the news is negative and the $40 area is taken out on the downside, next support would be at $39.02, $37.80, and $36.64. If the news is a positive surprise, first notable resistance would be at $45.08. Additional resistance levels would be at $46.45 and $48.21.
10:18 EDTBACActive calls: USO IWM SPY BAC AAPL
Active calls: USO 2/19/16 10, IWM 2/12/16 100, BAC 3/18/16 16, SPY 2/5/16 191, AAPL 2/5/16 95.50
09:10 EDTWFCWells Fargo to pay $1.2B to settle government claims over lending activities
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08:02 EDTATHNathenahealth enters partnership with Privia Health
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05:16 EDTCStocks with implied volatility movement; GS C
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February 2, 2016
18:39 EDTJPMAlibaba leads $794M funding round for augmented reality firm Magic Leap
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16:19 EDTSCTYElon Musk boosts SolarCity stake to 21.7%
Elon Musk disclosed an increased stake of 21.7% in SolarCity, which represents 21.28M shares, as of December 31, 2015. Musk, who is Chairman of the Board and founder of the company, holds the shares in a revocable trust.
12:19 EDTWFCWells Fargo settles with SEC over municipal securities underwriting violations
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11:53 EDTCCiti agrees to $23M 'ice breaker' yen Libor settlement, Reuters reports
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09:36 EDTBACActive equity options trading on open
Active equity options trading on open: FB AAPL BAC GOOGL NFLX GOOG XOM TWTR LVS
February 1, 2016
16:01 EDTBACOptions Update; February 1, 2016
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11:45 EDTJPMJPMorgan to buy almost $1B worth of LendingClub personal loans, WSJ says
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10:51 EDTBACActive calls; INTC CVS TWTR APC BAC
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09:36 EDTC, BACActive equity options trading on open
Active equity options trading on open: BAC AAPL FB AMZN TWTR MGM MCD NFLX GILD INTC TSLA AA BABA C
09:04 EDTMETMetLife originated $3.2B in agricultural loans in 2015
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08:06 EDTATHNathenahealth names Prakash Khot as Chief Technology Officer, effective Jan. 25
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06:17 EDTJPMJPMorgan testing blockchain project, FT reports
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05:13 EDTSCTYSolarCity implied volatility of 117 at upper end of index mean range
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January 31, 2016
20:43 EDTC, WFC, BAC, JPMOn The Fly: Top five weekend stock stories
Catch up on the weekend's top five stories with this list compiled by The Fly: 1. Coca-Cola (KO) announced a minority stake in diary and juice company Chi, with plans to take full ownership within three years. 2. Billionaire investor Nelson Peltz is considering taking an activist position in Time Warner (TWX), the New York Post reported. 3. Toyota (TM) could temporarily halt domestic production after an explosion at a key supplier curbed its supply of steel, Reuters said. 4. Investigations into Herbalife (HLF), as well as investigations into Bill Ackman himself, have fizzled and criminal charges look unlikely, the Wall Street Journal revealed. 5. Virtu Financial (VIRT) and Ctrip (CTRP) were discussed positively by Barron's this week, as well as "tech bargains" Autodesk (ADSK), Akamai (AKAM), Western Digital (WDC), SanDisk (SNDK) and Lam Research (LRCX) and attractive banking stocks Citi (C), JPMorgan (JPM), Bank of America (BAC) and Wells Fargo (WFC).
12:33 EDTPNC, BAC, WFC, JPM, C, USB, STIU.S. banks could return 20% or more, Barron's says
The banking sector looks like "one of the best bargains in the market," Barron's contends in a cover story. Names such as Citi (C), JPMorgan (JPM), Bank of America (BAC), Wells Fargo (WFC), Goldman Sachs (GS), Morgan Stanley (MS), BB&T (BBT), PNC Financial (PNC), SunTrust (STI) and U.S. Bancorp (USB) are showing healthy balance sheets and could offer "at least" 20% upside, the publication argues, adding that the industry's exposure to the energy sector "looks manageable" given information offered in recent earnings reports and conference calls. Reference Link
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