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Stock Market & Financial Investment News

News Breaks
October 12, 2012
14:25 EDTS, JPM, WFC, CMIMarket 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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October 8, 2014
07:13 EDTJPM, WFCBank dealers agree to revised derivatives rules, FT reports
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07:09 EDTSSprint to shut down WiMAX network around November 6, 2015, FierceWireless says
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06:56 EDTJPM, WFCBarclays lists several Large-Cap banks with the most Q3 upside
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06:29 EDTCMICummins initiated with a Buy at Stifel
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October 7, 2014
11:35 EDTJPMStocks with call strike movement; JPM QCOM
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10:50 EDTCMIAGCO shares slide as company cuts outlook, U.S. machinery sector downgraded
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10:02 EDTCMIOn The Fly: Analyst Downgrade Summary
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09:27 EDTCMIWells says Daimler decision to make engines negative for Cummins
Wells Fargo says Daimler's (DDAIF) announced intention to begin producing medium truck engines for its North American applications beginning in early 2016 is a negative for Cummins (CMI). Wells believes Daimler's decision is a threat to Cummins' supply relationship with Daimler's North American truck business. The firm estimates Cummins realized 45K engines and after-treatment systems to Daimler's North American Class 6-7 truck business over the twelve months ending August 2014. It has a Market Perform rating on the stock.
09:17 EDTJPMSecurities Industry & Financial Markets Association to hold a conference
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07:29 EDTJPMJPMorgan Chase volatility increases into Q3 and guidance
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07:28 EDTJPMWells Fargo ups price target ranges for capital markets banks
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07:26 EDTCMICummins downgraded to Neutral from Buy at BofA/Merrill
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06:51 EDTJPM, WFCJustice Department set to attack more large banks by year end, NY Times says
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06:49 EDTJPMBNP seeks assistance from banks as ban approaches, Reuters says
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05:52 EDTSStocks with implied volatility movement; S HIMX
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October 6, 2014
12:22 EDTJPMFireEye risk/reward compelling, says UBS
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10:02 EDTSKajeet collaborates with Novatel Wireless
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08:48 EDTJPMIberdrola hires JPMorgan to sell assets to fund US acquisition, Reuters reports
Iberdrola (IBDRY) has hired JPMorgan (JPM) to sell foreign renewable assets which could raise up to EUR 2B to help fund an acqusition in the U.S., reports Reuters, according to three sources with knowledge of the matter. One financial source said "Iberdrola is not going to sell anything unless they have an adequate acquisition target." Reference Link
07:29 EDTWFC, JPMHead of NYDFS reaching out to banks in wake of JPMorgan breach, FT says
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06:27 EDTWFC, JPMJPMorgan hackers hit about nine other firms, NY Times says
The group of hackers that infiltrated JPMorgan (JPM) also penetrated about nine other financial institutions, according to The New York Times. Washington intelligence officials and policy makers are much more concerned about the attacks than they have disclosed, the newspaper added. Other publicly traded large banks include Bank of America (BAC), Citigroup (C), Goldman Sachs (GS), Morgan Stanley (MS), U.S. Bancorp (USB) and Wells Fargo (WFC). Publicly traded cybersecurity companies include Barracuda Networks (CUDA), Check Point (CHKP), F5 Networks (FFIV), FireEye (FEYE), Fortinet (FTNT), Imperva (IMPV), Palo Alto (PANW), Proofpoint (PFPT), Qualys (QLYS) and Symantec (SYMC).Reference Link
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