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Stock Market & Financial Investment News

News For NYX;NDAQ;GS;CS From The Last 14 Days
Check below for free stories on NYX;NDAQ;GS;CS the last two weeks.
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July 23, 2014
07:23 EDTCSCredit Suisse urged to make deeper job cuts, FT says
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July 22, 2014
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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06:34 EDTGSGoldman, others close to $2B Huarong agreement, Reuters says
Goldman Sachs and other private equity firms such as Warburg Pincus, Khazanah Nasional, CITIC Group, China International Capital, Fosun Group and COFCO are nearing an agreement to purchase up to a 20% stake in China Huarong Asset Management for approximately $2B, according to Reuters, citing people familiar with the matter. Reference Link
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.
06:47 EDTGSGoldman signs preliminary agreement with Socar unit, Reuters says
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06:34 EDTCSJulius Baer CEO sees 'fair, equitable' fix to U.S. investigation, Reuters says
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July 18, 2014
16:47 EDTGSMarket ends week higher as earnings, M&A offset geopolitical tensions
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13:02 EDTGSGoldman, JPMorgan ready with $25B bridge loan for Time Warner takeover by Fox
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06:21 EDTGSCTW Investment asks SEC to probe Walgreen's meetings, NY Post says
CTW Investment Group has asked the SEC to investigate private meetings that top Walgreen (WAG) executives held with investors to reincorporate overseas for tax reasons, reports the New york Post. The pension advisor is raising questions about whether Walgreen's meetings with Goldman Sachs (GS), Jana Partners, Och-Ziff and Corvex broke fair disclosure rules. Reference Link
July 17, 2014
08:47 EDTGSAdvanced Emissions provides operations update
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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
06:00 EDTGSGoldman Sachs implied volatility of 15 at lower end of index mean range
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July 16, 2014
06:59 EDTCSCredit Suisse granted $3.7B RMBS bond bid list, Reuters says
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July 15, 2014
17:59 EDTGSGoldman Sachs looks undervalued, Barron's says
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16:40 EDTGSOn The Fly: Closing Wrap
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12:21 EDTGSOn The Fly: Midday Wrap
Stocks on Wall Street were lower at midday despite better than expected quarterly reports from two of the nation's largest financial institutions. Stock futures improved during the pre-market trading session, leading to a higher open for the broader market, following better than expected earnings reports from JP Morgan (JPM) and Goldman Sachs (GS). The earnings news also came alongside another huge M&A deal, as tobacco giants Reynolds American (RAI) and Lorillard (LO) confirmed plans to merge. However, the major averages weakened throughout the morning and fell into negative ground against the backdrop of Fed Chair Janet Yellen giving testimony on Capital Hill. In the Board of Governors' Monetary Policy Report, the central bank said valuation metrics in "some sectors" appear substantially stretched, "particularly those for smaller firms in the social media and biotechnology industries." ECONOMIC EVENTS: In the U.S., retail sales increased 0.2% in June compared to the month prior, making for the weakest reading since January and missing the consensus forecast for an increase of 0.6%. The Empire State manufacturing index climbed to a four-year high of 25.6 in July, beating expectations for a reading of 16.5. Import prices rose 0.1% in June, with export prices slipping 0.4%. Business inventories grew 0.5% in May, which was just below the 0.6% consensus growth expectation. In Europe, Germany's ZEW survey missed expectations, as both its Current Situation and Expectations reading were lower than forecast. COMPANY NEWS: Shares of JPMorgan advanced nearly 4% after the bank reported a profit of $1.46 a share, which included a legal expense of 13c a share, beating analysts' consensus forecast of $1.29. The earnings report comes after CEO Jamie Dimon recently disclosed that he has throat cancer. During the company's conference call, Dimon said he was "feeling great," that doctors had found no evidence of cancer anywhere except in the location where it had originally been detected, and that his prognosis for recovery is "excellent"... Also in the large-cap bank sector, Goldman Sachs' headline earnings and revenue similarly beat expectations. The firm, which said it ranks first in worldwide announced and completed mergers and acquisitions for the year-to-date, advanced about 1% following its report... Along with JPMorgan in the Dow Jones Industrial Average, Johnson & Johnson (JNJ) reported quarterly sales and profits that beat expectations and the healthcare conglomerate raised its fiscal year EPS view to $5.85-$5.92 from $5.75-$5.85. However, its increased outlook range still fell short of the $5.90 per share consensus forecast that analysts had prior to its report... Reynolds American confirmed news that has been speculated for many weeks, announcing that it will acquire peer Lorillard in a cash-and-stock transaction currently valued at $68.88 per Lorillard share, or a total of $27.4B, including the assumption of net debt. Shares of both fell afterward, with Lorillard down 8% to trade near $61.75 at midday and Reynolds slipping 5%. MAJOR MOVERS: Among the notable gainers was small-cap pharma biotechnology research company Codexis (CDXS), which surged nearly 50% after announcing a collaboration and license agreement with GlaxoSmithKline (GSK). Among the noteworthy losers was Aaron's (AAN), which is engaged in the lease ownership and retail sale of a variety of consumer products. Its stock fell over 6% after the company lowered its second quarter outlook, citing lower than expected performance of its core business as the reason for the revision. INDEXES: Near midday, the Dow was down 33.45, or 0.2%, to 17,021.97, the Nasdaq was down 40.48, or 0.91%, to 4,399.94, and the S&P 500 was down 9.24, or 0.47%, to 1,967.86.
11:53 EDTGSGoldman Sachs says Fed's tapering executed 'quite well'
Says Fed's tapering has been a success.
11:26 EDTGSGoldman Sachs doesn't see more significant asset reductions related to review
Doesn't see any more significant asset reductions related to its balance sheet review. Regarding its tax rate, CFO Schwartz says "We're a high taxpayer." Sees headcount increasing by year-end. Says hiring in asset management, cutting staff in fixed income trading.
11:06 EDTGSGoldman Sachs CFO says will consider accretive acquisitions
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10:50 EDTGSGoldman Sachs says asset reductions had 'de minimis' impact on franchise
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10:47 EDTGSGoldman Sachs says undertook 'comprehensive analysis' of balance sheet during Q2
Reports "mixed" operating environment in Q2. Says equity volatility at historically low levels. Says VAR drop driven by volatility, risk positions. Says currency trading was higher in Q2 than Q1, mortgages were flat, credit declined. CFO Harvey Schwartz says company undertook comprehensive review of balance sheet during the quarter. Comments made on the Q2 earnings conference call.
09:21 EDTGSOn The Fly: Pre-market Movers
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07:43 EDTGSGoldman Sachs says ranks first in M&A year-to-date
Goldman Sachs continued its leadership in investment banking, ranking first in worldwide announced and completed mergers and acquisitions for the year-to-date, the company said. The firm also ranked first in worldwide equity and equity-related offerings, common stock offerings and initial public offerings for the year-to-date.
07:41 EDTGSGoldman Sachs CEO says 'pleased' with results in context of operating conditions
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07:40 EDTGSGoldman Sachs reports Basel III Common Equity Tier 1 ratio 11.4% at June 30
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07:40 EDTGSGoldman Sachs reports book value, tangible book value both up 2%
Book value per common share and tangible book value per common share both increased approximately 2% during the quarter to $158.21 and $148.45, respectively. The firm continues to manage its liquidity and capital conservatively. The firm’s global core excess liquidity was $170B as of June 30. In addition, the firm’s Common Equity Tier 1 ratio was 11.4% as of June 30, under the Basel III Advanced approach. Total assets decreased $56B to $860B as of June 30, resulting from a firmwide initiative to reduce activities with lower returns, including certain client secured financing activities.
07:39 EDTGSGoldman Sachs reports Q2 Investment Banking revenues $1.78B
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07:38 EDTGSGoldman Sachs reports Q EPS $4.10, consensus $3.05
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July 14, 2014
15:24 EDTGSNotable companies reporting before tomorrow's open
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14:46 EDTGSGoldman Sachs technical notes ahead of earnings
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14:41 EDTGSGoldman Sachs July 167.5 straddle priced for 2.4% move into Q2
10:00 EDTNDAQOn The Fly: Analyst Upgrade Summary
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08:03 EDTGSGoldman Sachs volatility increases into Q2 and outlook
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07:48 EDTGSQuantum computer company D-Wave may come public, FT says
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06:13 EDTNDAQNASDAQ upgraded to Overweight from Equal-Weight at Evercore
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July 11, 2014
08:36 EDTNDAQNASDAQ Hearings Panel approves continued listing of Ixia shares
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07:20 EDTGSBig banks seen losing reserve release cushion, Reuters says
Releasing loan-loss reserves has helped U.S. big banks weather a period of weak loan demand and lower fee income, but Q2 results from the banks may see less benefit from the practice as loss rates and reserves near their lower limits, said Reuters. Publicly traded companies in the space include Bank of America (BAC), Citigroup (C), Goldman Sachs (GS), JPMorgan (JPM), Morgan Stanley (MS), U.S. Bancorp (USB) and Wells Fargo (WFC). Reference Link
July 10, 2014
07:08 EDTCSECB keeps tight grip on banks with health check results, Reuters says
The European Central Bank is targeting to keep a tight grip banks in the final phase of a balance sheet health check in October, giving them only 48 hours to review the test results before publishing them, according to Reuters, citing two people familiar with the matter. The assessment will look into banks’ balance sheets and measure their ability to handle shock and stress. 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).
06:52 EDTGSGoldman gains energy marketer Golender from Barclays, Reuters says
Goldman Sachs (GS) appointed oil marketer Roy Golender as vice president of energy sales from Barclays (BCS), according to Reuters citing a company spokesman. Golender's LinkedIn profile says that while at Barclays Golender spent four years in commodity derivatives sales. Reference Link
06:45 EDTCSCredit Suisse asks sentencing for aiding tax evasion be delayed, WSJ reports
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July 9, 2014
06:25 EDTGSGoldman exec says Japan M&A 'breaking' barriers, Bloomberg says
Goldman Sachs head of mergers and acquisitions in Japan, Yoshihiko Yano, said that the country is "breaking" M&A boundaries, according to Bloomberg, citing comments from Yano. Yano said, "We have to be more creative and steer away from biases and assumptions like ‘This company will normally do this,’ or ‘This type of move may happen in this industry.’” Reference Link
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