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Stock Market & Financial Investment News

News Breaks
October 12, 2012
14:25 EDTWFC, JPM, CMI, SMarket 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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August 24, 2015
12:26 EDTWFCAvolon Capital acquires Airbus A321-200 aircraft on lease to Vueling Airlines
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07:34 EDTJPMJP Morgan volatility at high end of range
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07:01 EDTWFCWells Fargo volatility at high end of range
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August 21, 2015
10:02 EDTCMICummins upgraded to Buy from Hold at Standpoint Research
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08:40 EDTJPMCanadian Security Traders Association to hold a conference
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August 20, 2015
09:03 EDTJPMJPMorgan appoints General Ray Odierno as senior advisor
JPMorgan Chase & Co. announced the appointment of retired four-star General Raymond T. Odierno, former Chief of Staff of the U.S. Army, to a senior advisory capacity at the firm, effective September 1.
08:02 EDTSFCC to hold a conference and workshop
2015 Supplier Diversity Conference & Workshop is being held at FCC Washington, D.C. offices on August 20 at 9:30 am. Webcast Link
05:48 EDTWFCStocks with implied volatility movement; WFC XLI
Stocks with implied volatility movement; Wells Fargo (WFC) 16, Industrial Select Sector SPDR (XLI) 18 according to iVolatility.
August 19, 2015
14:42 EDTJPMBanks cooperate on data company to lower costs, WSJ says
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13:30 EDTSOptions with increasing put volume;
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10:20 EDTSBig telecom firms put M&A on hold, CTFN reports
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08:22 EDTSSprint traffic levels increasing, says Pacific Crest
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August 18, 2015
18:35 EDTSSoftbank increases Sprint stake by roughly 16.8M shares
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17:35 EDTWFCWells Fargo to build additional car loan branches, Reuters says
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16:58 EDTJPMJPMorgan in talks to settle investment bias charges for $150M, WSJ says
JPMorgan is in advanced discussions with the SEC to settle allegations that it inappropriately guided clients to its own investment products, reports the Wall Street Journal, citing people familiar with the matter. Reference Link
11:34 EDTSSprint rises on plans to abandon two-year contracts
Sprint shares are higher this morning after the company's chief executive officer said that the carrier plans to move away from two-year contracts. WHAT'S NEW: In an interview with The Wall Street Journal, Sprint CEO Marcelo Claure said that the company will stop offering two-year contracts by the end of 2015 in favor of a "smartphone lease" model. Sprint began offering a lease option last year, The Journal noted, and Claure said the carrier is planning to move entirely to that model by the end of the year. As part of its shift, Sprint yesterday unveiled iPhone Forever, a new leasing plan that starts at $22 per month for an iPhone. WHAT'S NOTABLE: In a similar move earlier this month, Sprint rival Verizon (VZ) said it would drop phone subsidies and two-year contracts for new customers. T-Mobile (TMUS), another market rival, abandoned contracts over two years ago, leaving AT&T (T) as the only major U.S. carrier still offering to subsidize new smartphone purchases. Separately, Softbank (SFTBF), Sprint's primary stakeholder, disclosed last week that it increased its holdings in the company to approximately 80%, though the company said it does not plan for its stake in the carrier to exceed 85%. Meanwhile, a study released Tuesday by RootMetrics, an independent company that evaluates wireless networks, shows that Sprint is improving its network, having solidified third place nationally in overall performance, surpassing T-Mobile for the second consecutive six-month stretch. PRICE ACTION: Sprint is up 7c, or 1.52%, to $4.67 in morning trading.
August 17, 2015
18:12 EDTSSprint to move away from two-year contracts, WSJ says
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08:22 EDTSSprint customers can upgrade iPhone anytime, included in monthly rate
Sprint (S) announced that customers can upgrade their Apple (AAPL) iPhone anytime, included in their monthly rate. New and upgrade eligible Sprint customers can get iPhone for just $22 per month with iPhone Forever. Anytime customers don't have the latest iPhone, they are eligible to upgrade. They bring their iPhone, upgrade on the spot and away they go. It's that simple. iPhone Forever is available on any eligible Sprint rate plan and upgrade eligibility is always included in your price. New or existing customers who are upgrade eligible can bring in any smartphone and get a 16GB iPhone 6 model and their monthly rate will be reduced to just $15 until their next upgrade. As a special promotion, customers who get iPhone 6 and upgrade before December 31 continue with the discount price of $15 until their next upgrade.
06:12 EDTJPMJPMorgan reports July net credit losses 2.31% vs. 2.34% last month
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05:55 EDTJPMJPMorgan upgraded to Outperform from Market Perform at Keefe Bruyette
Keefe Bruyette analyst Christopher Mutascio upgraded JPMorgan to Outperform with a $77 price target, suggesting total return potential of 16%. Mutascio views the stock's valuation as attractive and highlights the "high dividend yield in a low-interest-rate environment."
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