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Stock Market & Financial Investment News

News Breaks
April 28, 2014
08:39 EDTC, JPM, GS, QCOM, MSU.S. expands Chinese bribery probes beyond banks to include hiring, Reuters says
The DOJ and SEC, which have previously asked banks including JPMorgan (JPM), Morgan Stanley (MS), Goldman Sachs (GS) and Citigroup (C) for information about their hiring practices in China, have expanded their existing investigations in a range of industries including oil and gas, telecommunications and consumer products to include hiring that could amount to bribery, said Reuters. Qualcomm (QCOM) has already disclosed that it could face action from U.S. authorities over alleged bribery in China and found instances in which "special hiring consideration" was given in China to people associated with state-owned entities, the report noted. Reference Link
News For QCOM;JPM;MS;GS;C From The Last 14 Days
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May 25, 2015
19:46 EDTCFXCM subsidiaries acquire majority of Citi margin forex accounts
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12:37 EDTQCOMQualcomm, Daimler announce strategic collaboration on connected car technology
Daimler AG (DDAIF) and Qualcomm Technologies, a subsidiary of Qualcomm (QCOM), announced a strategic collaboration focused on vehicle innovation. In the first phase of the collaboration, the companies will focus on developing vehicles with mobile technologies such as 3G/4G connectivity, wireless charging technology, and implementation of the Qualcomm "Halo" wireless electric vehicle charging technology. In addition, the companies are jointly assessing the application of Qualcomm's newly developed "Automotive Solutions." Qualcomm Technologies is collaborating with Daimler on its wireless power transfer 2.0 program for electric vehicles. The Qualcomm Halo technology could allow Daimler customers to charge their electric vehicles and plug-in hybrid EVs without having to plug them in. In addition, Qualcomm WiPower technology enables consumer electronics to charge wirelessly in-vehicle.
May 21, 2015
07:32 EDTQCOMQualcomm initiates $5B accelerated share repurchase
Qualcomm announced that it has entered into accelerated share repurchase agreements with two financial institutions to repurchase an aggregate of $5B of Qualcomm's common stock, with an initial delivery of approximately 57.7M shares. The final number of shares to be repurchased will be based on the volume-weighted average stock price of Qualcomm's common stock during the term of the transaction, less a discount and subject to adjustments pursuant to the terms and conditions of the ASR Agreements. The company is funding the accelerated share repurchase with proceeds from its recently completed $10B debt offering.
May 20, 2015
16:26 EDTC, JPMOn The Fly: Top stock stories for Wednesday
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16:00 EDTCOptions Update; May 20, 2015
iPath S&P 500 VIX Short-Term Futures up 3c to 19.19. Option volume leaders: AAPL AAL YHOO DAL FB BABA UAL BAC TWTR LUV C TSLA GE MU
12:33 EDTC, JPMOn The Fly: Top stock stories at midday
Stocks began the session relatively unchanged from yesterday’s close and continue to trade in a holding pattern as investors await the release of the minutes from the Federal Reserve's last FOMC meeting. ECONOMIC EVENTS: In the U.S., EIA inventory data showed a 2.67M barrel fall in crude stocks, versus expectations for a 1.75M barrel decrease. The Federal Reserve is scheduled to release the minutes from its last rate setting meeting at 2 pm EDT. In Asia, Japan's GDP accelerated to a 2.4% growth pace in the first quarter, which was much better than expected. Japanese stock markets rallied on the news, sending the Nikkei 225 average to its best level in 15 years. COMPANY NEWS: Five of the world's largest banks - Citi (C), JPMorgan Chase (JPM), Barclays (BCS), The Royal Bank of Scotland (RBS) and UBS (UBS) - agreed to pay more than $5B and plead guilty to felony charges related to manipulating foreign currencies and interest rates. In conjunction with previously announced settlements with regulatory agencies in the United States and abroad, today’s resolutions bring the total fines and penalties paid by these five banks for their conduct in the foreign exchange spot market to nearly $9B, the Department of Justice stated... Target (TGT) shares advanced 1% after the retailer's first quarter earnings topped expectations and it raised the low-end of its fiscal year profit forecast. Brian Cornell, chairman and CEO of Target, said the company was pleased with its first quarter traffic and sales, particularly in its signature categories, which drove better-than-expected profitability through improved gross margin and continued expense management. MAJOR MOVERS: Among the notable gainers was Sarepta Therapeutics (SRPT), which rallied 53% after the company announced that, following meetings with the FDA, it would submit its eteplirsen drug to the FDA for approval on a rolling basis, with various components of the application being submitted separately. Eteplirsen is a treatment for Duchenne muscular dystrophy, or DMD. Also higher was Pep Boys (PBY), which gained 14% after The Wall Street Journal said private equity firm Golden Gate Capital and other potential suitors have expressed interest recently in buying the company. Among the noteworthy losers was Etsy (ETSY), which operates an online marketplace to buy and sell handmade items and vintage goods. The stock, which priced its IPO at $16 and opened for trading at $31 per share, dropped 22% to trade near $16.50 after the company issued its first financial report since coming public in April. Also lower were shares of several airline stocks, led by Southwest (LUV), which was down 8% near noon. In a regulatory filing last night, Southwest indicated it expects FY15 capacity growth to increase 7%-8% and to grow another 6%-7% in FY16. Buckingham downgraded Southwest to Neutral from Buy this morning, stating it has a more cautious revenue outlook for the company due to a worsening backdrop as competitors vow to compete aggressively. INDEXES: Near midday, the Dow was down 6.10, or 0.03%, to 18,306.29, the Nasdaq was up 1.65, or 0.03%, to 5,071.69, and the S&P 500 was down 0.49, or 0.02%, to 2,127.34.
10:15 EDTC, JPMFive banks agree to parent-level guilty pleas in settlement over forex rigging
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10:09 EDTJPM, CCiti, JPMorgan, RBS, Barclays, UBS agreed to guilty pleas in forex settlement
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10:08 EDTJPMJPMorgan announces $892M in settlements with DOJ, Fed
JPMorgan Chase announced settlements with the U.S. Department of Justice and the Federal Reserve relating to the bank’s foreign exchange (FX) trading business. Under the DOJ resolution, JPMorgan will plead guilty to a single antitrust violation and pay a fine of $550M. Under the resolution with the Fed, the bank will pay a fine of $342M and has agreed to the entry of a Consent Order. JPMorgan said it has previously reserved for these settlements. These settlements are in addition to agreements announced in November 2014 with the U.K. Financial Conduct Authority, the U.S. Commodity Futures Trading Commission and the U.S. Office of the Comptroller of the Currency relating to the FX trading business. The press release stated, "The conduct underlying the antitrust charge is principally attributable to a single trader (who has since been dismissed) and his coordination with traders at other firms." Jamie Dimon, Chairman and CEO of JPMorgan Chase, said: “The conduct described in the government’s pleadings is a great disappointment to us. We demand and expect better of our people. The lesson here is that the conduct of a small group of employees, or of even a single employee, can reflect badly on all of us, and have significant ramifications for the entire firm. That’s why we’ve redoubled our efforts to fortify our controls and enhance our historically strong culture."
10:05 EDTCCiti announces ForEx settlements with Department of Justice, Federal Reserve
Citi announced that it has entered into settlements with the United States Department of Justice and the Board of Governors of the Federal Reserve System to resolve investigations into Citi’s foreign exchange business. The settlement with the DOJ includes a guilty plea by Citicorp, a subsidiary of Citigroup, to a violation of the Sherman Antitrust Act and fine of $925M. The settlement with the Fed includes the entry of a cease and desist order and a civil money penalty of $342M. Citi also announced that it has reached a separate agreement to settle related private U.S. class action claims for a payment of $394M, subject to court approval. Citi expects to maintain its licenses and does not expect a material impact on its operations or ability to serve its clients. The payments required by each of the settlements Citi announced today are covered by existing legal reserves and will not require a charge to earnings in the second quarter of 2015.
10:05 EDTCCiti announces ForEx settlements with Department of Justice, Federal Reserve
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08:21 EDTMS, C, GS, JPMATM data theft soars to highest rate in two decades, WSJ says
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06:10 EDTMSMorgan Stanley implied volatility of 16 at lower end of index mean range
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May 19, 2015
15:42 EDTC, JPMBanks' settlement over forex rigging to be announced tomorrow, CNBC says
Several banks are said to plan to plead guilty and pay "billions" in fines in a settlement over their roles in foreign exchange manipulation that is expected to be announced Wednesday, according to CNBC's Kate Kelly. Prior media reports have listed Barclays (BCS), Royal Bank of Scotland (RBS), UBS (UBS), JPMorgan (JPM) and Citigroup (C) as having been in talks with U.K. and U.S. authorities for their roles in foreign currency rigging.
09:37 EDTJPMActive equity options trading on open
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May 18, 2015
09:46 EDTMS, JPM, CMPLX enters common unit sales agreement for up to $500M
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09:36 EDTCActive equity options trading on open
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08:01 EDTCList of potential buyers of Citi Egyptian retail unit narrows, Reuters reports
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07:12 EDTJPM, CBarclays expected to face over GBP250M in fines for rigging, Telegraph says
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06:15 EDTCCiti divests 16% stake in Grupo Aeromexico, Reuters reports
Citigroup (C) has sold its 16% stake in Grupo Aeromexico, the Mexican airline says, Reuters reports. According to the airline, Barclays Capital (BCS) acquired about 8% of shares through a financial operation with Delta (DAL). Reference Link
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