New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
January 7, 2013
12:29 EDTNSM, ESI, PPHM, SCTY, ATHN, EPOC, WFC, USB, STI, PNC, MET, JPM, C, WAC, BAC, ACHNOn 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
Check below for free stories on NSM;BAC;WAC;C;JPM;MET;PNC;STI;USB;WFC;EPOC;ATHN;SCTY;PPHM;ESI;ACHN the last two weeks.
Sign up for a free trial to see the rest of the stories you've been missing.
1 | 2 | 3 | 4 | all recent news | >>
July 21, 2014
07:12 EDTJPMCFA Institute to hold a seminar
Subscribe for More Information
06:04 EDTSTISunTrust reports Q2 EPS ex-items 81c, consensus 77c
Subscribe for More Information
July 18, 2014
16:47 EDTBAC, C, JPMMarket ends week higher as earnings, M&A offset geopolitical tensions
Subscribe for More Information
13:02 EDTJPMGoldman, JPMorgan ready with $25B bridge loan for Time Warner takeover by Fox
Subscribe for More Information
12:01 EDTCCitigroup says DOJ settlement includes est. of cost of consumer relief
Says $3.8B charge for DOJ settlement included estimates of cost of consumer relief.
11:30 EDTCCitigroup sees issuing 'somewhat more' securitizations during rest of year
Says liquidity position remains strong. Sees FY NCL rate in Asia, Latin America roughly in line with 1H. Says expects to repurchase or redeem $10B of debt this year. Expects to issue preferred stock between now and when Basel III rules are implemented at a measured pace. Sees 2014 preferred stock issuance volume below 2013 levels. Says capital position remains among the strongest in the industry. Says will issue "somewhat more" securitizations during the rest of the year, says credit cards to be primary source of additional securitizations. Comments made on the company's Q2 Fixed Income Investor Review.
11:07 EDTATHNathenahealth defended, sell-off overdone, says Leerink
Subscribe for More Information
10:32 EDTCCitigroup says making continued progress in resolving legacy issues
Subscribe for More Information
06:45 EDTBACDocument reveals SEC examining firms in HFT probe, Reuters says
An internal document from the U.S. Securities and Exchange Commission revealed that the regulator has been looking for data on 10 registered broker dealers as part of an ongoing probe into high-frequency trading strategies, according to Reuters, citing the document. The firms in question include Allston Trading, Hudson River Trading, Jump Trading, Latour Trading, which is an affiliate of Tower Trading, Merrill Lynch, Pierce, Fenner & Smith, owned by Bank of America (BAC), Octeg, which has been merged into a unit of KCG (KCG), Tradebot Systems, Two Sigma Investments, Two Sigma Securities and Virtu Financial. Reference Link
July 17, 2014
16:22 EDTJPMJPMorgan awards CEO Dimon 2M crisis-era stock options
Subscribe for More Information
16:12 EDTATHNathenahealth trades up after earnings, levels to watch
Subscribe for More Information
16:09 EDTATHNathenahealth sees FY14 EPS 98c -$1.10, consensus $1.04
Sees FY14 revenue $725M -$755M, consensus $741.02M.
16:06 EDTATHNathenahealth reports Q2 EPS 32c, consensus 22c
Subscribe for More Information
15:26 EDTATHNNotable companies reporting after market close
Subscribe for More Information
14:40 EDTATHNathenahealth July 129 straddle priced for 8.7% move into Q2
Subscribe for More Information
10:00 EDTPNCOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: 21st Century Fox (FOXA) downgraded to Buy from Strong Buy at ISI Group... Charter (CHTR) downgraded to Hold from Buy at Jefferies... Covidien (COV) downgraded to Hold from Buy at Needham... Diageo (DEO) downgraded to Underweight from Neutral at JPMorgan... GNC Holdings (GNC) downgraded to Hold from Buy at Jefferies... International Game (IGT) downgraded to Market Perform from Outperform at BMO Capital... JAVELIN Mortgage (JMI) downgraded to Market Perform from Outperform at JMP Securities... Macquarie Group (MQBKY) downgraded to Underweight from Neutral at JPMorgan... PNC Financial (PNC) downgraded to Neutral from Buy at Compass Point... PetSmart (PETM) downgraded to Sector Perform from Outperform at RBC Capital... Rexam (REXMY) downgraded to Hold from Buy at Deutsche Bank.
08:26 EDTPNCPNC Financial downgraded to Neutral from Buy at Compass Point
Subscribe for More Information
07:16 EDTSCTYSolarCity management to meet with Deutsche Bank
Subscribe for More Information
07:14 EDTWFCWells Fargo CEO John Stumpf says economy stronger than people think
Subscribe for More Information
06:38 EDTBACStudy says UBS largest private bank with assets near $2T, Reuters says
Subscribe for More Information
1 | 2 | 3 | 4 | all recent news | >>

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the theflyonthewall.com disclaimer & terms of use