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Stock Market & Financial Investment News

News Breaks
January 8, 2013
14:29 EDTNYX, NDAQ, CS, ITGFinra expanding oversight of 'dark-trading venues,' WSJ says
Financial Industry Regulatory Authority, Finra, head Richard Ketchum, said the regulator is expanding its oversight of the dark-trading venues, says the Wall Street Journal. The WSJ added that the expanded oversight has an interest in whether orders placed on public exchanges are "trying to move prices or encourage sellers that may advance their trading in the dark market." Reference Link
News For NYX;NDAQ;CS;ITG From The Last 14 Days
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July 28, 2014
06:48 EDTNDAQNASDAQ appoints BNY Mellon to provide U.S. Treasury clearing, custody
BNY Mellon (BK) has been appointed by NASDAQ OMX Clearing (NDAQ) to provide EMIR, or European Market Infrastructure Regulation, compliant clearing and custody services for U.S. Treasuries within the NASDAQ OMX Group's new European clearing business. The new mandate extends BNY Mellon's existing relationship with NASDAQ OMX - it was appointed by the exchange as a cash settlement bank in 2013 - and reinforces BNY Mellon's position as a leading custodial service provider to central counterparties, or CCPs. Both EMIR and the Dodd-Frank legislation in the U.S. mandate the migration of over-the-counter derivatives from bilateral clearance to CCPs.
July 25, 2014
06:40 EDTCSLoan write down standards changed for non-U.S. banks, NY Times says
A new accounting rule will enable banks outside of the U.S. to write down the value of loans earlier but could cause loans to become less attractive for those banks, according to The New York Times. The rule was issued by the International Accounting Standards Board, whose guidelines are followed in more than 100 countries but not in America, the newspaper stated. Publicly traded European banks include Banco Santander (SAN), Barclays (BCS), Credit Suisse (CS), Deutsche Bank (DB), HSBC (HSBC), ING Groep (ING), Lloyds Banking (LYG), Royal Bank of Scotland (RBS) and UBS (UBS).Reference Link
July 24, 2014
07:04 EDTNDAQNASDAQ lowers 2014 non-GAAP operating expense guidance
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07:02 EDTNDAQNASDAQ reports Q2 EPS 70c, consensus 68c
Reports Q2 revenue $523M, consensus $517.16M. The company said non-transaction based revenues were 74% of total Q2 net revenues, and increased 19% from the prior year quarter.
July 23, 2014
07:23 EDTCSCredit Suisse urged to make deeper job cuts, FT says
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July 22, 2014
16:26 EDTITGITG confirms reception of shareholder letter
ITG confirmed that it has received a shareholder letter from Philadelphia Financial of San Francisco. ITG welcomes constructive input from investors and is committed to creating lasting value for all of its shareholders. ITG management will provide an update on financial results and business outlook during the Q2 earnings call on July 31st.
14:53 EDTITGITG up 4% after Philadelphia Financial reports 6.3% stake, seeks new CEO
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14:35 EDTITGPhiladelphia Financial reports 6.3% stake in ITG, seeks CEO change or sale
Philadelphia Financial acquired their shares of Common Stock based upon their view that the stock is trading below its intrinsic value due to inappropriate management of the company by its current CEO. Philadelphia Financial seeks to influence the board of directors of the company to change the CEO and or to sell the company to another company thereby achieving gains in Common Stock of the company for the current shareholders. The actions of Philadelphia Financial are based upon a detailed and complex analysis of the company, its operations, financial results, competitive environment, the general economic environment in which it operates, securities markets in general and the market for the company’s securities in particular as well as other factors. Accordingly, Philadelphia Financial reserves the right to change its intentions and develop new or different proposals at any time as it deems appropriate.
07:24 EDTCSCredit Suisse down 2.2% after reporting Q2 results
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07:17 EDTCSNational Association for Business Economics to hold a seminar
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06:02 EDTCSCredit Suisse says on track to exceed 10% CET1 ratio by year-end
Credit Suisse said it is on track to exceed 10% CET1 ratio by year-end, including continued accrual of cash dividend for 2014.
06:01 EDTCSCredit Suisse to exit commodities trading business
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05:59 EDTCSCredit Suisse reports Q2 net income CHF (700M) vs. CHF 1.05B last year
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July 21, 2014
17:47 EDTCSAstoria Financial to sell non-performing residential mortgages to Credit Suisse
Astoria Financial (AF) announced that the bank had entered into an agreement to sell certain non-performing residential mortgage loans, or NPL, to Credit Suisse (CS) for consideration of approximately $186M. The NPL Sale is expected to close on or about July 31, subject to usual and customary closing conditions. In anticipation of the NPL Sale, such non-performing loans were designated as held-for-sale as of June 30 and were written down from their carrying value of approximately $195M to their estimated fair value of $186M. As a result, the company recorded an $8.7M charge-off and a $5.7M loan loss release in Q2.
13:18 EDTCSCredit Suisse, Fidelity sign agreement to offer great access to IPOs
Fidelity Investments and Credit Suisse Securities announced an agreement that provides Fidelity's brokerage clients the opportunity to participate in initial public offerings and follow-on equity offerings underwritten by Credit Suisse. The agreement expands Credit Suisse's potential investor base to Fidelity's millions of retail brokerage customers, as well as investors who work with advisors through Fidelity's registered investment advisor, correspondent broker/dealer and family office clients. A 2013 Fidelity survey of 2,500 affluent and high-net-worth clients indicated that they had significant interest in IPOs. More than 50% of those surveyed currently buy or are open to investing in IPOs.
06:34 EDTCSJulius Baer CEO sees 'fair, equitable' fix to U.S. investigation, Reuters says
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July 17, 2014
06:38 EDTCSStudy says UBS largest private bank with assets near $2T, Reuters says
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06:34 EDTCSBlackRock sells $3.7B of UBS securities to Credit Suisse, Bloomberg says
Blackrock (BLK) sold $3.7B of the $22B of securities it purchased six years ago from UBS (UBS) to Credit Suisse (CS) in yesterday’s auction of mostly subprime-mortgage bonds, according to Bloomberg, citing a person with knowledge of the transaction. Reference Link
July 16, 2014
06:59 EDTCSCredit Suisse granted $3.7B RMBS bond bid list, Reuters says
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