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Stock Market & Financial Investment News

News Breaks
October 12, 2012
14:25 EDTJPM, CMI, S, WFCMarket 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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November 12, 2014
09:36 EDTWFC, JPMInformation Management Network to hold a symposium
Private Label RMBS Reform Symposium is being held in New York on November 12.
08:57 EDTJPMBarclays excluded from forex settlement due to issues with NYDFS, Reuters says
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08:46 EDTSSprint in talks to buy FreedomPop, USA Today reports
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08:13 EDTJPMBoston Biotech to hold a conference
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07:48 EDTSWells Fargo to hold a conference
5th Annual Technology, Media & Telecom Conference is being held in New York on November 12-13.
07:28 EDTJPM, WFCBofA/Merrill to hold a conference
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07:02 EDTJPMJPMorgan makes changes in response to foreign exchange probe, Reuters says
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06:12 EDTJPMCFTC fines five banks $1.4B for manipulation of FX benchmark rates
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06:05 EDTJPMFCA fines five banks $1.7B over FX trading operations
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06:04 EDTJPMJPMorgan downgraded to Market Perform from Outperform at Bernstein
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November 11, 2014
14:30 EDTJPMBanks to be hit with billions in fines for currency manipulation, Telegraph says
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10:00 EDTJPMOn The Fly: Analyst Downgrade Summary
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07:06 EDTWFCJinkoSolar subsidiary signs $20M credit agreement with Wells Fargo Bank
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06:39 EDTJPMJPMorgan downgraded on valuation at Keefe Bruyette
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05:47 EDTJPMJPMorgan downgraded to Market Perform from Outperform at Keefe Bruyette
Keefe Bruyette downgraded JPMorgan to Market Perform with a $64 price target.
November 10, 2014
15:17 EDTJPMCFPB may require added disclosures on prepaid cards, WSJ says
The Consumer Financial Protection Bureau is expected to propose new rules later this week that will require more disclosure for prepaid debit cards and cracking down on allowing consumers to spend more money on the cards than they have, according to The Wall Street Journal, citing people familiar with the matter. The rules come as traditional financial institutions, such as JPMorgan (JPM) and American Express (AXP) have moved into the business and the industryís biggest players donít allow overdrafts so it is unclear whether the new rules will dent industry profits, the report said. Green Dot (GDOT) also does not permit overdrafts and Visa (V) recently excluded overdraft abilities in guidelines for its prepaid cards, the report added. Reference Link
07:12 EDTWFCCA Technologies to hold a conference
CA World 2014 is being held in Las Vegas on November 9-12.
06:46 EDTJPM, WFCRegulators set new capital buffer rule for banks, Reuters reports
Global banks should have buffers of bonds or equity worth 16%-20% of their risk-weighted assets, beginning in January 2019, The Financial Stability Board decided, according to Reuters. The board said the buffer would prevent the need for government bailouts, the news service explained. Publicly traded global banks include Bank of America (BAC), Citigroup (C), Goldman Sachs (GS), JPMorgan (JPM), Morgan Stanley (MS), U.S. Bancorp (USB) Wells Fargo (WFC), Banco Santander (SAN), Barclays (BCS), Credit Suisse (CS), Deutsche Bank (DB), HSBC (HSBC), ING Groep (ING), Lloyds Banking (LYG), RBS (RBS) and UBS (UBS). Reference Link
06:18 EDTJPMUBS to settle misconduct allegations at precious metals trading unit, FT reports
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November 8, 2014
20:17 EDTSAT&T could be the best bet of telecom stocks, Barron's says
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