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Stock Market & Financial Investment News

News Breaks
November 19, 2012
07:35 EDTKEY, MTB, USB, HBAN, TD, PNC, FITB, RBSRBS under pressure to sell CItizens, Reuters reports
Royal Bank of Scotland (RBS) is coming under pressure from the U.K. government to put its US Citizens business up for sale, according to Reuters. The unit could be worth around $8.8B-$13.6B, but the publication adds that a sale is not likely to happen for a year or two. TD Bank (TD), M&T Bank (MTB), Fifth-Third (FITB), Huntington (HBAN) or KeyCorp (KEY) could be interest in parts of the network, Credit Suisse analysts have said. Bankers say PNC (PNC) and U.S. Bancorp (USB) could also take a look. Reference Link
News For RBS;TD;MTB;FITB;HBAN;KEY;PNC;USB From The Last 14 Days
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February 10, 2016
15:22 EDTKEYNY Governor requests KeyCorp acquisition of First Niagara be blocked
New York Governor Andrew Cuomo officially requested that federal officials block KeyBank's (KEY) proposed acquisition of First Niagara (FNFG), stating: "The proposed acquisition of First Niagara by Key Bank would have a devastating impact on consumers and businesses in Upstate New York, and I urge the federal government to reject the application. This proposal would reduce retail banking competition, limit consumer access and convenience, and ultimately eliminate jobs throughout the region. Blocking this deal is the right thing to do - plain and simple - and my administration will not hesitate to stand up for New Yorkers by opposing this acquisition." Shares of First Niagra are down 3.4% to $9.01 following the announcement.
15:19 EDTKEYNY Governor requests First Niagara acquisition by KeyCorp be blocked
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10:01 EDTUSBOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Akamai (AKAM) upgraded to Buy from Hold at Craig-Hallum... Banco Bilbao (BBVA) upgraded to Outperform from Underperform at Exane BNP Paribas... Coca-Cola (KO) upgraded to Hold from Sell at Societe Generale... Dean Foods (DF) upgraded to Outperform from Market Perform at Bernstein... Dr. Reddy's (RDY) upgraded to Buy from Underperform at CLSA... Essex Property Trust (ESS) upgraded to Hold from Sell at Zelman... FireEye (FEYE) upgraded on positive outlook at BTIG... Goodyear Tire (GT) upgraded to Outperform from Underperform at CLSA... Hess Corp. (HES) upgraded to Conviction Buy from Neutral at Goldman... Hudbay Minerals (HBM) upgraded to Buy from Hold at Canaccord... PROS (PRO) upgraded to Hold from Sell at Craig-Hallum... Press Ganey (PGND) upgraded to Outperform from Neutral at Baird... Salesforce (CRM) upgraded to Buy from Outperform at CLSA... Seattle Genetics (SGEN) upgraded to Buy from Hold at Cantor... Shire (SHPG) upgraded on valuation at RBC Capital... SolarCity (SCTY) upgraded to Strong Buy on valuation at Raymond James... Spark Energy (SPKE) upgraded to Buy from Neutral at Janney Capital... Textura (TXTR) upgraded to Hold from Sell at Benchmark... TransDigm (TDG) upgraded to Gradually Accumulate from Hold at Wellington Shields... Trimble (TRMB) upgraded to Buy from Hold at Needham... U.S. Bancorp (USB) upgraded to Outperform from Market Perform at Wells Fargo... Zurich Insurance (ZURVY) upgraded to Neutral from Underweight at JPMorgan.
06:41 EDTRBSCredit Suisse CEO: Selloff of shares 'not justified,' FT reports
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06:36 EDTUSBMorgan trading head says Q1 may be tough for Wall Street, WSJ says
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05:50 EDTUSBU.S. Bancorp upgraded to Outperform from Market Perform at Wells Fargo
Wells Fargo analyst Matthew Burnell upgraded U.S. Bancorp to Outperform citing valuation and his belief the company can weather an economic downturn better than peers. Burnell has a $44-$46 price target range for the shares.
February 9, 2016
18:37 EDTUSBU.S. Bancorp, Santander reach settlements with Comptroller of the Currency
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15:45 EDTUSBFed telling banks to stress test for negative rates, CNBC reports
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07:20 EDTKEYKeyCorp volatility elevated
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06:41 EDTPNCPNC Financial volatility elevated
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06:31 EDTUSBU.S. Bancorp volatility elevated
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February 8, 2016
07:26 EDTPNC, FITBThe FDIC and Federal Reserve Bank of San Francisco to hold a conference
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06:31 EDTUSBNorway's oil fund tells U.S. banks to split CEO-chairman positions, FT says
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February 5, 2016
10:02 EDTKEYOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Abbott (ABT) upgraded on valuation at Argus... Allstate (ALL) upgraded to Buy from Neutral at Citi... CACI (CACI) upgraded to Buy from Neutral at Citi... Coca-Cola Enterprises (CCE) upgraded to Neutral from Negative at Susquehanna... Coca-Cola (KO) upgraded to Neutral from Negative at Susquehanna... Comcast (CMCSA) upgraded following Q4 results at Argus... DCT Industrial (DCT) upgraded to Neutral from Underperform at Credit Suisse... Fluidigm (FLDM) upgraded to Buy from Neutral at Mizuho... Glu Mobile (GLUU) upgraded to Buy from Hold at Benchmark... Goldman Sachs (GS) upgraded to Buy at UBS... JPMorgan (JPM) upgraded to Buy from Neutral at UBS... KeyCorp (KEY) upgraded to Buy from Neutral at UBS... Kona Grill (KONA) upgraded to Outperform from Market Perform at Telsey Advisory... LPL Financial (LPLA) upgraded to Neutral at Susquehanna... Level 3 (LVLT) upgraded to Overweight from Equal Weight at Stephens... Resolute Forest (RFP) upgraded to Outperform from Sector Perform at RBC Capital... Suburban Propane (SPH) upgraded to Buy from Neutral at Citi... Sysco (SYY) upgraded at Argus... U.S. Concrete (USCR) upgraded to Buy from Neutral at Citi... Ubiquiti (UBNT) upgraded to Buy from Hold at Wunderlich... United Natural Foods (UNFI) upgraded to Sector Perform from Underperform at RBC Capital... Weatherford (WFT) upgraded to Strong Buy from Market Perform at Raymond James... Whole Foods (WFM) upgraded to Neutral from Underperform at Longbow... Wi-LAN (WILN) upgraded to Speculative Buy from Hold at Canaccord.
06:48 EDTKEYKeyCorp upgraded to Buy from Neutral at UBS
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February 4, 2016
06:58 EDTUSBFed official supports tougher bank stress tests, Reuters reports
Boston Fed president Eric Rosengren said that he supports tougher stress tests for "too big to fail" banks, including larger capital investments that would make them "even more binding," Reuters reports. Rosengren said that stress test changes have reduced the likelihood that systemically important financial firms would fail, the report says. Publicly traded companies in the space include Bank of America (BAC), Citi (C), Goldman Sachs (GS), JPMorgan (JPM), Morgan Stanley (MS), U.S. Bancorp (USB) and Wells Fargo (WFC). Reference Link
06:51 EDTUSB, PNCBofA doesn't deserve to be in 'stock market doghouse,' WSJ says
Bank of America (BAC) is currently in the "stock market doghouse," but doesn't deserve to be, David Reilly of the Wall Street Journal's Ahead of the Tape says. The overall beating of U.S. bank stocks has come amid the greater market selloff, reflecting the fact that slowing growth has brought doubt on the Fed's ability to raise rates in March, Reilly says. Since a rate increase is a far-off prospect, investors have little reason to own bank stocks, though Bank of America's valuation assumes "too dire an outcome," the report says. Banks with international outreach, such as Citi (C), are still arguably further behind in post-crisis cleanup, but Bank of America is more focused on the domestic U.S. economy and prices a U.S. recession as a given, not a possibility, the report says. Other large U.S. banks include Wells Fargo (WFC), JPMorgan (JPM), Goldman Sachs (GS), Morgan Stanley (MS), U.S. Bancorp (USB), BB&T (BBT), PNC Financial (PNC), and SunTrust (STI). Reference Link
06:33 EDTRBSRBS calls off sale of India banking unit, will review options, Reuters says
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February 1, 2016
07:31 EDTTDBarclays among potential buyers of TD Direct, Sky reports
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January 31, 2016
12:33 EDTPNC, USBU.S. banks could return 20% or more, Barron's says
The banking sector looks like "one of the best bargains in the market," Barron's contends in a cover story. Names such as Citi (C), JPMorgan (JPM), Bank of America (BAC), Wells Fargo (WFC), Goldman Sachs (GS), Morgan Stanley (MS), BB&T (BBT), PNC Financial (PNC), SunTrust (STI) and U.S. Bancorp (USB) are showing healthy balance sheets and could offer "at least" 20% upside, the publication argues, adding that the industry's exposure to the energy sector "looks manageable" given information offered in recent earnings reports and conference calls. Reference Link
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