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Stock Market & Financial Investment News

News Breaks
January 9, 2013
07:38 EDTPNCPNC Financial sees Q4 EPS exceeding First Call mean estimate of $1.57
The PNC Financial Services Group took the following actions in Q4 associated with its residential mortgage banking activities along with other items. The net impact of these actions will reduce PNCís Q4 net income by approximately 47c per diluted common share. PNC recorded $91M of expenses related to residential mortgage foreclosure activities, which includes a charge of approximately $70M resulting from an agreement to amend the consent orders entered into in April 2011. PNC recorded a pretax provision of $254M for residential mortgage repurchase obligations related to expected elevated levels of repurchase demands primarily as a result of further changes in behavior and demand patterns of government-sponsored enterprises, FHLMC and FNMA, for loans sold into agency securitizations, including the years 2004 and 2005. PNC recorded a noncash, nontax-deductible goodwill impairment charge of $45M in Q4 related to its Residential Mortgage Banking segment, which had no goodwill remaining at December 31. PNC recorded a pretax gain of $130M on the sale of a portion of its investment in Visa, or 4 million Visa Class B common shares. PNC recorded $35M of pretax integration costs and $70M of pretax noncash charges for the remarketing and redemption of high cost hybrid capital securities. Excluding the net impact of these actions, PNC currently expects its Q4 EPS will exceed the current First Call mean estimate of $1.57.
News For PNC From The Last 14 Days
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October 27, 2014
10:00 EDTPNCOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Abraxas Petroleum (AXAS) downgraded to Hold from Buy at Stifel... Anadarko (APC) downgraded to Neutral from Buy at Goldman... Basic Energy (BAS) downgraded to Sell from Buy at Goldman... Cabot Oil & Gas (COG) downgraded to Sector Perform from Outperform at Howard Weil... Coca-Cola (KO) downgraded to Neutral from Buy at Buckingham... CommScope (COMM) downgraded at BofA/Merrill... Concho Resources (CXO) downgraded to Hold from Buy at Stifel... Consolidated Communications (CNSL) downgraded to Market Perform at Raymond James... Continental Resources (CLR) downgraded to Neutral from Buy at Goldman... Covanta (CVA) assumed with a Neutral from Outperform at Macquarie... DCP Midstream (DPM) downgraded to Neutral from Buy at Goldman... Denbury Resources (DNR) downgraded to Hold from Buy at Stifel... Diamond Offshore (DO) downgraded to Sell from Neutral at Goldman... Diana Shipping (DSX) downgraded to Hold from Buy at Deutsche Bank... EP Energy (EPE) downgraded to Neutral from Buy at Goldman... EZchip (EZCH) downgraded to Neutral from Buy at Chardan... Emerge Energy (EMES) downgraded to Neutral from Buy at Goldman... Encore Wire (WIRE) downgraded to Neutral from Buy at DA Davidson... Enduro Royalty Trust (NDRO) downgraded to Neutral from Buy at Goldman... First Niagara (FNFG) downgraded to Sector Perform from Outperform at RBC Capital... GOL Linhas (GOL) downgraded to Neutral from Buy at BofA/Merrill... Goodrich Petroleum (GDP) downgraded to Hold from Buy at Stifel... Halliburton (HAL) downgraded to Buy from Conviction Buy at Goldman... Home Loan Servicing (HLSS) downgraded to Neutral from Buy at Citigroup... ICON plc (ICLR) downgraded to Equal Weight from Overweight at Barclays... IHS Inc. (IHS) downgraded to Equal Weight from Overweight at Barclays... Jones Energy (JONE) downgraded to Hold from Buy at Stifel... Laredo Petroleum (LPI) downgraded to Sell from Neutral at Goldman... Lloyds Banking (LYG) downgraded to Underperform from Hold at Jefferies... Midcoast Energy (MEP) downgraded to Neutral from Buy at Goldman... PDC Energy (PDCE) downgraded to Hold from Buy at Stifel... PNC Financial (PNC) downgraded at Sterne Agee... Parsley Energy (PE) downgraded to Sell from Neutral at Goldman... Patterson-UTI (PTEN) downgraded to Neutral from Conviction Buy at Goldman... Pioneer Energy (PES) downgraded to Neutral from Buy at Goldman... Precision Castparts (PCP) downgraded at RBC Capital... Royal Gold (RGLD) downgraded to Neutral from Overweight at HSBC... SM Energy (SM) downgraded to Hold from Buy at Stifel... Sanchez Energy (SN) downgraded to Hold from Buy at Stifel... Scorpio Bulkers (SALT) downgraded to Hold from Buy at Deutsche Bank... Synergy Resources (SYRG) downgraded to Hold from Buy at Stifel... Ventas (VTR) downgraded to Neutral from Buy at UBS... Whiting Petroleum (WLL) downgraded to Hold from Buy at Stifel... Zumiez (ZUMZ) downgraded to Neutral from Buy at DA Davidson.
09:20 EDTPNCPNC Financial downgraded at Sterne Agee
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06:40 EDTPNCPNC Financial downgraded to Neutral from Buy at Sterne Agee
October 20, 2014
06:40 EDTPNCPNC Financial downgraded to Hold from Buy at Deutsche Bank
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October 17, 2014
09:06 EDTPNCJPMorgan and PNC Financial weakness a buying opportunity, say Morgan Stanley
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