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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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July 17, 2014
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
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July 16, 2014
12:56 EDTPNCPNC Financial downgraded to Sector Perform from Outperform at Portales
12:26 EDTPNCOn The Fly: Midday Wrap
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10:33 EDTPNCPNC Financial sees continuation of low interest rate environment
10:21 EDTPNCPNC Financial sees FY revenue under pressure, says could likely be down y/y
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09:07 EDTPNCPNC Financial sees Q3 loan loss provision $75M-$125M
Sees modest growth in loans for Q3. Sees net interest income down modestly, fee income stable. Sees Q3 noninterest expense up low single digits. Comments from slides that will be presented on the Q2 earnings conference call.
06:44 EDTPNCPNC Financial reports Q2 EPS $1.85, consensus $1.78
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July 15, 2014
15:19 EDTPNCNotable companies reporting before tomorrow's open
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