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Stock Market & Financial Investment News

News Breaks
February 25, 2013
05:55 EDTPRU, PRU, PRU, CHH, CHH, CHH, BDN, BDN, BDN, AEC, AEC, AEC, JPM, JPM, JPM, BX, BX, BX, BLK, BLK, BLK, MCO, MCO, MCO, WFC, WFC, WFC, MAR, MAR, MARWells Fargo to host a conference
16th Annual Real Estate Securities Conference is being held in New York on February 25-27.
News For PRU;WFC;MCO;BLK;BX;JPM;AEC;BDN;CHH;MAR From The Last 14 Days
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January 29, 2016
13:02 EDTJPMBarclays names Venkatakrishnan chief risk officer
Barclays (BCS) has named C.S. Venkatakrishnan as Chief Risk Officer. Venkatakrishnan joins Barclays from JP Morgan Chase (JPM) where he has been the Head of Model Risk and Development since 2012 and Head of Operational Risk since September 2013. He will join the Executive Committee of Barclays and report directly to the group CEO Jes Staley. Once Mr Venkatakrishnan assumes his new role, current Chief Risk Officer Robert Le Blanc will become Vice Chair of Risk and Strategy, reporting to Staley. Reference Link
January 28, 2016
18:19 EDTWFCBank of America, Wells Fargo to integrate Apple Pay in ATMs, TechCrunch says
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12:30 EDTBXBlackstone says enters 2016 with 'great confidence' in the business
Says does not see recession in U.S. in 2016. Says capital inflows to funds "remain healthy." Says seeing strong demand for credit products. Says the company is in "terrific shape" in all areas. Says remains "highly profitable with strong growth prospects." Says expects price of oil to be significantly higher over next several years. Says prefers cash to massive stock buybacks as it provides more investment opportunities. Says will continue to pursue "smart acquisitions." Says does not expect China to experience a "hard landing." Comments from company's Q4 earnings conference call.
08:02 EDTPRUPrudential receives approval for acquisition of interest in Administradora
Prudential Financial said that it has obtained the approval of the Chilean Superintendence of Pensions for its previously announced proposed acquisition of an indirect ownership interest in Administradora de Fondos de Pensiones Habitat S.A. (AFP Habitat), a leading provider of retirement services in Chile that trades under the symbol HABITAT CI on the Santiago Stock Exchange. Prudential expects to acquire indirectly between approximately 34 and 40 percent of AFP Habitat from Inversiones La Construccion S.A., the investment subsidiary of the Chilean Construction Chamber, depending on the results of a pre-closing partial tender offer by a subsidiary of ILC to acquire up to 13 percent of AFP Habitat's outstanding shares from public shareholders at a price of $899.90 Chilean Pesos per share. ILC has announced that this tender will commence on January 28, 2016 and, unless extended, will expire on February 26, 2016. Following the completion of the tender offer, Prudential will acquire its indirect interest in the AFP Habitat shares from ILC for 899.90 Chilean Pesos per share, for a total purchase price of approximately US$430 million to US$510 million at current exchange rates. It is expected that the transaction will result in equal ownership positions for Prudential and ILC, with a controlling stake in AFP Habitat held through a joint holding company.
07:05 EDTBXBlackstone reports Q4 fee-earning AUM $246.15B, up 14% y/y
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07:03 EDTBXBlackstone reports Q4 ENI 37c, consensus 46c
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January 27, 2016
14:34 EDTBXNotable companies reporting before tomorrow's open
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06:46 EDTBLKFee prices on mutual funds, ETFs sliding towards zero, WSJ says
There is intense fee price competition occurring in the asset management sector as several fund firms, including BlackRock (BLK), Charles Schwab (SCHW), and others, cut fees on their passive products close to 0%, the Wall Street Journal reports. The competition is suppressing industry margins and building a greater impetus for firms to achieve scale, the report says. The slide in costs have been under way for years but is accelerating as the sector's largest companies are targeting increasingly cost-obsessed investors, the report says. Over 100 mutual funds and exchanged-traded funds currently cost $10 or less per $10,000 invested, up from 40 in 2010, the report says, citing Morningstar. Reference Link
06:41 EDTBXSunEdison shops Vivint rooftop assets before closing takeover, Bloomberg says
SunEdison (SUNE) has yet to close its $1.9B acquisition of Vivint Solar (VSLR) and is already shopping come of the company's rooftop solar assets, Bloomberg reports. The purchase from Blackstone (BX) was announced in July and altered in December, and SunEdison might have difficulty completed the deal if it can't find a buyer for some assets, the report says, citing comments from an interview Credit Suisse analyst Patrick Jobin. Reference Link
January 26, 2016
16:26 EDTWFCWells Fargo rises in extended session after boosting buybacks
Shares are up over 1.2% to $48.84. At that price next resistance is at $49.46. Support is at $48.26, the closing price of the session.
16:23 EDTWFCWells Fargo increases common stock repurchase authority by 350M shares
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10:40 EDTMARTripAdvisor adds key supplier with Starwood, says Piper Jaffray
Piper Jaffray analyst Michael Olson says that while expected following Marriott's (MAR) acquisition of Starwood, the partnership enabling Starwood's hotel inventory on TripAdvisor's (TRIP) Instant Book is a positive. TripAdvisor is making "tremendous strides" in building its supplier network, Olson tells investors in a research note. He reiterates an Overweight rating on the stock with a $120 price target.
09:02 EDTBXBlackstone says Peter Grauer to join board of directors
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06:45 EDTBLKBlackRock says clients seeking more illiquid holdings, Bloomberg says
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06:11 EDTJPMJPMorgan reaches $1.42B settlement agreement in Lehman case, Bloomberg says
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January 25, 2016
16:06 EDTBXBioMed Realty sees acquisition by Blackstone closing later this week
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10:00 EDTJPMOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: American Eagle (AEO) downgraded to Hold from Buy at BB&T... American Express (AXP) downgraded on weak revenue outlook at Argus... Bristol-Myers (BMY) downgraded to Market Perform from Outperform at BMO Capital... Caterpillar (CAT) downgraded to Sell from Neutral at Goldman... Crestwood Equity (CEQP) downgraded to Neutral on potential distribution cut at Baird... Cummins (CMI) downgraded to Neutral from Buy at Citi... Federal Realty (FRT) downgraded to Hold from Buy at Evercore ISI... GKN PLC (GKNLY) downgraded to Neutral from Outperform at Credit Suisse... Galapagos NV (GLPG) downgraded to Neutral from Buy at GoldmanvHortonworks (HDP) downgraded to Perform from Outperform at Oppenheimer... International Flavors (IFF) downgraded on headwinds at Stifel... International Paper (IP) downgraded to Neutral from Buy at Citi... JPMorgan (JPM) downgraded to Neutral from Buy at Nomura... KapStone (KS) downgraded to Underperform from Neutral at Macquarie... Mosaic (MOS) downgraded to Neutral from Overweight at JPMorgan... NetSuite (N) downgraded to Equal Weight from Overweight at Stephens... ONEOK Partners (OKS) downgraded to Neutral at Baird... OvaScience (OVAS) downgraded to Perform from Outperform at Oppenheimer... Packaging Corp. (PKG) downgraded to Neutral from Buy at Citi... Potash (POT) downgraded to Neutral from Overweight at JPMorgan... Power Solutions (PSIX) downgraded to Neutral from Overweight at Piper Jaffray... Raymond James (RJF) downgraded to Neutral from Buy at Nomura... Regeneron (REGN) downgraded to Sell from Neutral at Chardan... SanDisk (SNDK) downgraded to Underperform from Outperform at CLSA... Toll Brothers (TOL) downgraded to Market Perform from Outperform at JMP Securities... Twitter (TWTR) downgraded to Hold from Buy at Stifel... WPX Energy (WPX) downgraded to Sector Perform from Outperform at Iberia... WestRock (WRK) downgraded to Neutral from Buy at BofA/Merrill... Whole Foods (WFM) downgraded to Underperform from Market Perform at BMO Capital... Zurich Insurance (ZURVY) downgraded to Neutral from Outperform at Exane BNP Paribas.
07:03 EDTJPMJPMorgan downgraded to Neutral from Buy at Nomura
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January 22, 2016
07:53 EDTBDNSunTrust bullish on storage, datacenter, multifamily REITs
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06:40 EDTBXBlackstone capitalizes on heavy bank regulation, WSJ reports
Blackstone (BX) has capitalized on heavy bank regulation, snatching assets cast off by certain banks and entering business others are exiting, the Wall Street Journal reports. For example, in 2013, Credit Suisse (CS) sold its deal-making team that bought stakes in private equity funds to Blackstone following European banking regulations that made it more difficult to own such a business, the report says. Reference Link
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