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Stock Market & Financial Investment News

News Breaks
October 12, 2012
14:25 EDTCMI, S, WFC, JPMMarket set to end week lower as IMF, World Bank forecasts weigh on shares
Stocks are set to end the week lower after the IMF reduced its forecast for 2012 global growth and the World Bank cut its estimate for 2012 Asian economic growth. MACRO NEWS: The IMF on Tuesday lowered its forecast for economic growth this year to 3.3% from 3.5%, while the World Bank on Monday reduced its outlook for 2012 Asian growth to 7.2% from 7.6%... On the other hand, some positive U.S. economic data was released, as the government reported that jobless claims had reached a four and a half year low last week, and an index of consumer confidence reached its highest level in almost five years... The euro zone also released relatively upbeat economic data, as the bloc said that its industrial production rose 0.6% month-over-month in August, versus the consensus estimate of a 0.4% decline. COMPANY NEWS: Sprint (S) said that it was in talks that could result in Japanese telecom company Softbank obtaining a majority stake in the American company. Softbank could buy over two-thirds of the Sprint for $12.8B, Reuters had reported earlier... In the financial sector JPMorgan (JPM) and Wells Fargo (WFC) both reported higher than expected EPS, although Wells' revenue came in below expectations... On a negative note, engine-maker Cummins (CMI) reduced its full year revenue and EBIT guidance.
News For S;JPM;WFC;CMI From The Last 14 Days
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April 10, 2014
06:35 EDTJPM, WFCMobile banking presents opportunity and risks for banks, WSJ reports
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April 9, 2014
11:15 EDTST-Mobile unveils $40 monthly price plan called 'Simple Starter'
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07:51 EDTJPMJP Morgan April volatility up into Q1 and outlook
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07:50 EDTJPMCEO Dimon says U.S. banking system 'sound,' Europe lagging, Reuters says
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07:18 EDTJPMLevy Economics Institute to hold a conference
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06:35 EDTWFC, JPMRegulators increase leverage ratio requirement for large banks, NY Times says
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06:27 EDTJPM, WFCBig banks must add capital to comply with new rules, WSJ reports
A of January 1, 2018, the U.S.'s eight largest banks -- including Citigroup (C), JPMorgan (JPM) and Goldman Sachs (GS) -- must add up to $68B in extra capital to comply with a new rule intended to help firms weather losses during periods of market stress, the Wall Street Journal. The banks will be required to maintain well above the minimum levels of capital held against assets on their books. Banks must report the new levels next year. Reference Link
April 8, 2014
07:28 EDTJPMSecurity Innovation Network to hold a forum
IT Security Entrepreneurs Forum: ITSEF 2014 is being held in Mountain View, California on April 8-9.
07:26 EDTJPMElsevier Business Intelligence to hold a conference
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April 7, 2014
19:57 EDTJPM, WFCFederal Reserve announces extension on some CLOs
The Federal Reserve Board announced that it intends to exercise its authority to give banking entities two additional one-year extensions to conform their ownership interests in and sponsorship of certain collateralized loan obligations, or CLOs, covered by section 619 of the Dodd-Frank Wall Street Reform and Consumer Protection Act, commonly referred to as the Volcker rule. Section 619 of the Dodd-Frank Act directed the board to adopt rules for the conformance period and the board previously extended the conformance period for all activities and investments by one year to July 21, 2015. To ensure effective compliance, the board intends to grant banking entities two additional one-year extensions, which together would extend until July 21, 2017, to conform their ownership interests in and sponsorship of CLOs to the statute. Publicly traded companies that may be impacted by the announcement include Bank of America (BAC), Citigroup (C), Goldman Sachs (GS), JPMorgan (JPM), Morgan Stanley (MS), U.S. Bancorp (USB) and Wells Fargo (WFC). Reference Link
08:56 EDTJPMJPMorgan, U.K.'S DFID, CDC to invest $20M combined in Novastar Ventures
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April 4, 2014
12:13 EDTSSprint launches promotion, offering $650 for customers to switch, BGR reports
Sprint has begun a promotion that will offer people up to $650 to make the switch to their company, reports BGR. Through a forum member on Sprint's fan site S4GRU, the company launched a limited promotion to reimburse new customers up to $350 in early termination fees, as well as a service credit of up to $300 when they trade in their old phones. Reference Link
11:02 EDTSSoftbank said to eye possible M&A opportunities in Europe, Forbes says
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10:02 EDTJPMOn The Fly: Analyst Upgrade Summary
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08:47 EDTSLenovo, IBM deal investigated by U.S. over Pentagon servers, Bloomberg says
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08:07 EDTSRegulators 'increasingly open' to Sprint, T-Mobile merger, says FBR Capital
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07:20 EDTJPMJP Morgan April volatility up into Q1 and outlook for capital return
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07:18 EDTWFCWells Fargo April volatility elevated at 19 into Q1 and outlook
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06:42 EDTJPMJPMorgan selling part of retirement business to Great-West, WSJ reports
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06:36 EDTJPMJPMorgan upgraded to Outperform from Neutral at Macquarie
Macquarie upgraded JPMorgan to Outperform from Neutral based on relative valuation, improving U.S. and European economies, improving business mix and potential for increased buybacks. Price target raised to $68 from $62.
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