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Stock Market & Financial Investment News

News Breaks
April 5, 2012
08:22 EDTSTT, DB, WFC, GS, C, CS, BAC, JPM, HBC, MTU, BK, UBSCustodian banks urging EC to reconsider proposed funds rules, FT reports
Custodian banks including JPMorgan (JPM), Citi (C), HSBC (HBC), Deutsche Bank (DB), State Street (STT) and Bank of New York Mellon (BK) are urging the European Commission to amend technical standards proposed for implementing the 2011 alternative investment fund managers directive, warning that the planned rules for the hedge fund and private equity industries would “cause a significant and undesirable disruption to financial markets,” reported Financial Times. Reference Link
News For STT;BK;MTU;HBC;JPM;BAC;CS;C;GS;WFC;DB;UBS From The Last 14 Days
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October 21, 2014
08:31 EDTJPM, UBS, CSEU fines JPMorgan, UBS, Credit Suisse for cartel on derivatives
The European Commission has found that four international banks, RBS (RBS), UBS (UBS), JP Morgan (JPM) and Credit Suisse (CS), operated a cartel on bid-ask spreads of Swiss franc interest rate derivatives in the European Economic Area. The Commission imposed fines worth a total of EUR 32.36M. RBS received immunity from fines for revealing the existence of the cartel to the Commission. UBS and JPMorgan received reductions of their respective fines for cooperating with the investigation under the Commission's 2006 Leniency Notice. UBS was fined EUR 12.65M, JP Morgan fined EUR 10.53M and Credit Suisse was fined EUR 9.17M.
08:28 EDTJPMEuropean Commission fines JMorgan EUR 61.68M over Libor influencing
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08:18 EDTC, UBS, CS, DB, WFC, JPM, BAC, GSBasel Committee accelerating work on leverage ratio, FT says
The Basel Committee on Banking Supervision will begin work on the calibration of the leverage ratio, a measure of bank capital seen as less vulnerable to manipulation, sooner than previously planned, which suggests the finished rule could be released as soon as 2015 or 2016, which is ahead of the previous target date of 2017, reported Financial Times, citing comments from the secretary-general of the committee, William Coen. Publicly traded large U.S. banks include Bank of America (BAC), Citigroup (C), Goldman Sachs (GS), JPMorgan (JPM), Morgan Stanley (MS), U.S. Bancorp (USB) and Wells Fargo (WFC). Publicly traded large EU banks include Banco Santander (SAN), Barclays (BCS), Credit Suisse (CS), Deutsche Bank (DB), HSBC (HSBC), ING Groep (ING), Lloyds Banking (LYG), Royal Bank of Scotland (RBS) and UBS (UBS). Reference Link
08:12 EDTJPM, CS, UBSJPMorgan, UBS, Credit Suisse to be fined by EU over Libor rigging, Reuters says
JPMorgan (JPM), UBS (UBS) and Credit Suisse (CS) will be fined $115M collectively for their roles in rigging Swiss franc Libor rates, with JPMorgan's fine of $89M making up the lion's share of the penalty, said Reuters, citing a person familiar, who added that Royal Bank of Scotland (RBS) would not be penalized for its own role since it alerted the European Commission to the issue. Reference Link
06:52 EDTC, DBCiti purchasea Deutsche energy, metals book, Reuters says
Citigroup (C) acquired Deutsche Bank's (DB) energy and metals book, which is the U.S. company's latest expansion effort in commodities trading as some of its competitors look to exit that sector, according to Reuters, citing a source familiar with the matter. Reference Link
October 20, 2014
09:31 EDTJPMRobinhood.org to hold conference
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07:21 EDTUBS, JPM, CFederal Reserve Bank of New York and Boston to hold a workshop
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06:33 EDTBKBNY Mellon upgraded to Neutral from Sell at Goldman
Goldman upgraded BNY Mellon to Neutral based on balanced risk/reward and progress on costs. Price target is $34.
October 19, 2014
16:10 EDTGSGoldman reluctant to join U.K.'s BSRC, WSJ says
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14:03 EDTUBSUBS stays with risky Puerto Rico bond fund recommendations, Reuters says
Despite numerous arbitration claims by investors who cite Puerto Rico closed-end bond funds for losses, UBS has told brokers that they may continue to recommend the funds, says Reuters. Reference Link
October 17, 2014
16:55 EDTWFC, BAC, GS, C, JPMStocks end volatile week lower amid oil price plunge
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10:00 EDTGSOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: AK Steel (AKS) upgraded to Buy from Neutral at Nomura... AMD (AMD) upgraded to Sector Perform from Underperform at Pacific Crest... Atlantic Power (AT) upgraded to Market Perform from Underperform at BMO Capital... Basic Energy (BAS) upgraded to Outperform from Market Perform at Cowen... BorgWarner (BWA) upgraded to Buy from Hold at Deutsche Bank... CA Technologies (CA) upgraded to Overweight from Equal Weight at Barclays... Calumet Specialty Products (CLMT) upgraded to Outperform at Wells Fargo... DHT Holdings (DHT) upgraded to Buy from Hold at Evercore... Exelon (EXC) upgraded to Neutral from Sell at Citigroup... Fifth Third Bancorp (FITB) upgraded to Buy from Neutral at Citigroup... Goldman Sachs (GS) upgraded to Outperform from Market Perform at Keefe Bruyette... Helmerich & Payne (HP) upgraded to Buy from Neutral at UBS... Hilton (HLT) upgraded to Buy from Neutral at SunTrust... Hyatt Hotels (H) upgraded to Outperform from Neutral at Macquarie... IPG Photonics (IPGP) upgraded at Stifel... ITC Holdings (ITC) upgraded to Neutral from Underperform at Credit Suisse... Manpower (MAN) upgraded to Outperform from Market Perform at Avondale... Nabors Industries (NBR) upgraded to Outperform from Market Perform at Cowen... Newpark Resources (NR) upgraded at Cowen... Old Dominion (ODFL) upgraded to Buy from Neutral at Longbow... PDC Energy (PDCE) upgraded at SunTrust... Patterson-UTI (PTEN) upgraded to Buy from Neutral at UBS... PrivateBancorp (PVTB) upgraded to Outperform from Neutral at Macquarie... QLogic (QLGC) upgraded to Buy from Hold at Summit Research... RPC, Inc. (RES) upgraded at Cowen... Sonoco (SON) upgraded to Neutral from Underperform at DA Davidson... Southwestern Energy (SWN) upgraded to Outperform from Market Perform at Raymond James... SunEdison (SUNE) upgraded to Outperform at Cowen... TSMC (TSM) upgraded to Buy from Neutral at Mizuho... Tesco (TESO) upgraded to Outperform from Market Perform at Cowen... UnitedHealth (UNH) upgraded to Outperform from Market Perform at Leerink... Xilinx (XLNX) upgraded to Outperform from Market Perform at Wells Fargo.
09:38 EDTCActive equity options trading on
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09:06 EDTJPMJPMorgan and PNC Financial weakness a buying opportunity, say Morgan Stanley
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07:00 EDTJPMJPMorgan in talks to build corporate campus in Manhattan, NY Times reports
JPMorgan Chase (JPM) is in negotiations with New York state and city officials over a potential $6.5B deal that would result in the construction of a corporate campus with two high rises on the West Side of Manhattan, the Wall Street Journal reports. Reference Link
06:45 EDTWFCWells Fargo closes alternative trading system, Reuters says
In response to weak client demand, Wells Fargo is shutting down its "dark pool" trading system, according to Reuters, citing a spokeswoman from the bank. The spokeswoman said that even though the firm will cease offering alternative trading access, it will still offer customers electronic trading tools. Reference Link
06:36 EDTBKBNY Mellon increasing high quality liquid assets in Q4
In Q4, BNY Mellon is continuing to reduce interbank placement assets and increasing its high quality liquid assets in the securities portfolio. The anticipated revenue as a result of these tactical actions should mitigate the impact on net interest revenue as a result of the European Central Bank's reduction in their deposit rate to negative, and the resulting impact on lower reinvestment rates across the euro yield curve; as well as, prolonged low reinvestment rates in the U.S.
06:34 EDTBKBNY Mellon reports Q3 EPS 93c, consensus 61c
Reports Q3 revenue $3.78B, consensus $3.98B. Reports Q3 book value per share $30.80. Reports Q3 Tier 1 capital ratio 15.8%. Reports Q3 AUM up 7% to $28.3T.
06:07 EDTCSCredit Suisse names Sitohang Asia Pacific CEO
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05:35 EDTGSGoldman Sachs upgraded to Outperform from Market Perform at Keefe Bruyette
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