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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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December 16, 2014
09:59 EDTPNCOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: BB&T (BBT) initiated with a Neutral at Guggenheim... Bank of America (BAC) initiated with a Buy at Guggenheim... Ciena (CIEN) initiated with a Neutral at Wedbush... Cimarex Energy (XEC) initiated with a Perform at Oppenheimer... Citigroup (C) initiated with a Neutral at Guggenheim... Extended Stay America (STAY) initiated with a Market Perform at JMP Securities... Infinera (INFN) initiated with a Neutral at Wedbush... JPMorgan (JPM) initiated with a Neutral at Guggenheim... Morgan Stanley (MS) initiated with a Buy at Guggenheim... Newfield Exploration (NFX) initiated with an Outperform at Oppenheimer... Nike (NKE) initiated with a Market Perform at Cowen... PNC Financial (PNC) initiated with a Neutral at Guggenheim... Peak Resorts (SKIS) initiated with an Outperform at FBR Capital... Peak Resorts initiated with an Outperform at Oppenheimer... Ralph Lauren (RL) initiated with an Outperform at Cowen... U.S. Bancorp (USB) initiated with a Neutral at Guggenheim... Under Armour (UA) initiated with an Outperform at Cowen... Wells Fargo (WFC) initiated with a Neutral at Guggenheim... Whiting Petroleum (WLL) initiated with an Outperform at Oppenheimer... Lowe's (LOW) initiated with a Neutral at Nomura... Home Depot (HD) initiated with a Neutral at Nomura... Estee Lauder (EL) initiated with a Buy at KeyBanc... Huntsman (HUN) initiated with a Buy at Nomura... Dow Chemical (DOW) initiated with a Buy at Nomura.
December 15, 2014
16:14 EDTPNCPNC Financial initiated with a Neutral at Guggenheim
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December 12, 2014
08:09 EDTPNCBofA/Merrill financial analysts hold an analyst/industry conference call
Banks Analyst Najarian, along with Capital Markets Analyst Carrier, Specialty Finance Analyst Bruce discuss the year ahead in Financials, covering the Banks, Capital Markets, Life and P/C Insurance, REIT, Specialty Finance and Canadian Banks/Life Insurance sectors on an Analyst/Industry conference call to be held on December 16 at 10 am.
December 10, 2014
09:20 EDTPNCPNC Financial says special dividends not an option this year
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December 8, 2014
16:04 EDTPNCPNC Financial announces executive appointments
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