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Stock Market & Financial Investment News

News Breaks
May 7, 2014
06:38 EDTREPYY, MS, YPFRepsol sells 11.86% YPF stake to Morgan Stanley
Repsol (REPYY) has sold to Morgan Stanley & Co. LLC (MS) 11.86% of the share capital of YPF (YPF), represented by 46,648,538 ordinary Class D Shares for 1,255,312,157.58 dollars , pursuant to Rule 144 under the U.S. Securities Act of 1933. Each share sold will be in the form of American Depositary. The transaction will generate estimated capital gains before taxes of 622 million dollars. Following the sale, Repsol will continue to own Class D Shares, including American Depositary Shares representing Class D Shares, amounting to less than 0.5% of the outstanding capital stock of YPF
News For REPYY;YPF;MS From The Last 14 Days
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March 27, 2015
06:49 EDTMSBNY Mellon may have contacted recruitment firm for CEO candidates, Reuters says
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05:42 EDTREPYYRepsol initiated with an Underperform at Jefferies
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March 26, 2015
08:17 EDTMSSEC Chairwoman proposes new 'dark pool' regulation, NY Post says
Securities and Exchange Commission Chairwoman Mary Jo White proposed new regulation Wednesday that would require high-frequency traders to register with the Financial Industry Regulatory Authority and provide the agency with a daily paper trail, reports the New York Post. The Post notes that there is a 60-day comment period before any SEC rule is finalized. 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
06:15 EDTMSMorgan Stanley CEO planning further changes to management team, WSJ reports
Over the next few months, sources tell The Wall Street Journal that Morgan Stanley Chairman and CEO James Gorman is planning further changes to the bank's management team as part of Gorman's efforts to prepare the bank for the next phase of its turnaround. Sources say Gorman is also looking to lay the groundwork for a succession plan. The bank said this week that Jonathan Pruzan will succeed Ruth Porat as CFO. Reference Link
March 25, 2015
07:22 EDTMSMorgan Stanley CFO selected partly due to experience with regulators, WSJ says
Morgan Stanley CEO James Gorman selected Jonathan Pruzan to succeed Ruth Porat as CFO in part because Pruzan "understands the current regulatory environment" due to his role advising other banks on the Fed's stress test, reports the Wall Street Journal, citing an internal memo from Gorman. The Journal notes that Pruzan is a diplomatic "banker to other bankers," having advised Morgan Stanley's peers and rivals on financial matters as well as managing relationships with regulators. Reference Link
March 24, 2015
16:20 EDTMSOn The Fly: Closing Wrap
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10:44 EDTMSMorgan Stanley CFO change a 'manageable uncertainty,' says Wells Fargo
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09:09 EDTMSMorgan Stanley CFO Porat to join Google as new CFO
Google (GOOG, GOOGL) and Morgan Stanley (MS) this morning announced that current Morgan Stanley Chief Financial Officer Ruth Porat will leave the firm and take on the same role at Google. WHAT'S NEW: Morgan Stanley said in a filing that Porat, who joined the firm in 1987, will leave the company, effective April 30. At Morgan Stanley, Porat was previously vice chairman of Investment Banking, global head of the Financial Institutions Group and and co-head of Technology Investment Banking. Google said in a separate statement that Porat will join the company as CFO on May 26. At Google, Porat will report to Google Chief Executive Officer and co-founder, Larry Page. WHAT'S NOTABLE: Jonathan Pruzan, currently co-head of the Global Financial Institutions Group in Investment Banking at Morgan Stanley, will succeed Porat as the bank's CFO upon Porat's departure. PRICE ACTION: Morgan Stanley is down 0.14% in pre-market trading and Google is up 1.09%.
08:59 EDTMSMorgan Stanley confirms Jonathan Pruzan will succeed Ruth Porat as CFO
Morgan Stanley (MS) announced in a filing that Ruth Porat, executive VP and CFO, would leave the company on April 30. In a memo, CEO James Gorman says, "After a 28-year career at Morgan Stanley, Ruth Porat has decided to leave the Firm to take on a new role in Silicon Valley and return to her California roots. It is with a heavy heart that we see her go. Ruth joined Morgan Stanley in 1987 and has played a number of key roles at the Firm, from her time leading the tech banking franchise during the Internet boom, to leading the FIG banking team during the financial crisis, then as CFO partnering with the senior team to transform Morgan Stanley for the new regulatory environment. She has been a mentor and sponsor to many colleagues, and a role model for even more. Her tremendous energy, diligence and insight have been an enormous asset to the Firm... Jonathan Pruzan, currently Co-Head of the Global Financial Institutions Group in Investment Banking, will be appointed CFO upon Ruthís departure. Jon joined Morgan Stanley in 1994 and has spent more than 20 years at the Firm working with financial institution clients. He understands the current regulatory environment, having shepherded clients through the Fedís stress test and CCAR processes. He brings both great technical skill and proven leadership to this new role. Jon has served on the Morgan Stanley/MUFG steering committee since 2013 and will continue to do so. He will join the Firmís Operating Committee and Management Committee."
08:57 EDTMSGoogle confirms that Morgan Stanley's Ruth Porat to join company as CFO
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08:55 EDTMSGoogle to name Ruth Porat as CFO, Bloombeg reports
Dow Jones previously reported that Porat is leaving Morgan Stanley (MS).
08:53 EDTMSMorgan Stanley CFO Porat leaving bank for role in Silicon Valley, DJ reports
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07:45 EDTMSMetLife CEO letter may be early sign of bank earnings headwinds, WSJ says
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March 23, 2015
07:19 EDTMSCapital Link to hold a forum
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March 19, 2015
11:53 EDTMSU.S. banks face headwinds in unloading oil loans, WSJ says
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March 18, 2015
12:15 EDTREPYYTalisman Energy to cut 150-200 employees, WSJ reports
Talisman Energy (TLM) will cut its workforce by 150-200 employees, or about 10%-15%, in response to lower oil prices, The Wall Street Journal reports, citing a company spokesperson. In addition, Talisman, which is in the process of being acquired by Repsol (REPYY), is cutting its 2015 capital program to $2.1B, a 30% reduction from 2014 spending and lower than its prior 2015 forecast of $2.7B. The job cuts are mainly at Talisman's head office in Calgary and are not related to the Repsol takeover. Reference Link
March 16, 2015
13:05 EDTMSMorgan Stanley's quarter not shaping up to be strong one, says Rafferty Capital
Rafferty Capital's Dick Bove said Morgan Stanley's current quarter is not shaping up to be a strong one. Bove said industry trade data from the NY Federal Reserve Bank is not that encouraging with fall offs in numbers in key categories. The analyst believes trading is flat to down overall in the quarter and investment banking its not fairing much better. Bove still views Morgan Stanley among his top picks for 2015 despite near-term issues.
12:33 EDTMSMorgan Stanley may be challenged in quarter, says Rafferty Capital
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10:02 EDTYPFOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: AmerisourceBergen (ABC) upgraded to Buy from Neutral at UBS... Avago (AVGO) upgraded to Buy from Neutral at DA Davidson... Francesca's (FRAN) upgraded to Buy at Janney Capital... Goldcorp (GG) upgraded to Overweight from Neutral at HSBC... Jabil Circuit (JBL) upgraded to Buy from Hold at Cross Research... JetBlue (JBLU) upgraded to Outperform at Raymond James... King Digital (KING) upgraded to Overweight from Neutral at JPMorgan... L.B. Foster (FSTR) upgraded to Outperform from Neutral at Macquarie... NextEra Energy (NEE) upgraded to Buy from Hold at Deutsche Bank... Petrobras Argentina (PZE) upgraded to Buy from Neutral at BofA/Merrill... Qorvo (QRVO) upgraded to Buy from Neutral at DA Davidson... Randgold (GOLD) upgraded to Overweight from Neutral at HSBC... Royal Gold (RGLD) upgraded to Overweight from Neutral at HSBC... Seagate (STX) upgraded at Needham... Standex (SXI) upgraded to Buy from Hold at BB&T... Union Pacific (UNP) upgraded to Outperform from Neutral at Macquarie... West Corp. (WSTC) upgraded to Outperform from Neutral at RW Baird... Xilinx (XLNX) upgraded to Buy from Hold at Drexel Hamilton... YPF (YPF) upgraded to Buy from Neutral at BofA/Merrill.
06:49 EDTYPFYPF upgraded to Buy from Neutral at BofA/Merrill
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