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Stock Market & Financial Investment News

News Breaks
February 28, 2014
05:36 EDTSTT, BKState Street unit now handling corporate bond trades, WSJ reports
A unit of State Street Corp. (STT) started handling corporate bond trades between large investment firms as an intermediary, reports the Wall Street Journal. That's usually done by a bank-owned broker-dealer. Bank of New York Mellon Corp. (BK) is also considering offering a similar service, sources say. Reference Link
News For STT;BK From The Last 14 Days
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October 30, 2014
14:33 EDTSTTState Street loses PIMCO futures-clearing business, WSJ reports
At about the time PIMCO, a unit of Allianz (AZSEY), was dealing with the departure of Bill Gross, a unit of State Street (STT) asked the fund management company to reduce some positions, in response to which PIMCO pulled all its futures-clearing business from the company, according to The Wall Street Journal, citing people familiar with the matter. The report said it was not clear from its sources if State Streetís request was prompted by the exit of Gross. Shares of State Street, which had been slightly higher prior to the first headlines from the Journal's story, are down about 0.3% to $73.58 in afternoon trading. Reference Link
14:11 EDTSTTState Street loses PIMCO futures-clearing business, DJ reports
State Street had asked PIMCO to reduce its risk exposures, in response to which PIMCO removed all its futures-clearing business from a State Street unit, reported Dow Jones, citing sources.
07:18 EDTSTTFinancial Research Associates to hold a conference
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October 28, 2014
07:46 EDTBKBNY Mellon told to not turn over funds to Argentine bondholders, Reuters reports
A U.S. judge refused to force Bank of New York Mellon to turn over any of the $539M Argentina deposited to pay creditors who participated in its past restructurings to holders of defaulted Argentine bonds, reported Reuters. Reference Link
07:22 EDTBKNYSSA to hold a conference
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October 27, 2014
15:32 EDTBKBNY Mellon 'bracing' for renewed demands from activist Peltz, FBN says
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11:37 EDTBKBNY Mellon to host investor day
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October 26, 2014
12:54 EDTBKBNY Mellon SA/NV passes ECB Comprehensive Assessment Exercise
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October 24, 2014
09:54 EDTSTTState Street says Q4 revenue could be impacted by market conditions
Expects to build on new business momentum for remainder of year. Sees FY14 effective tax rate 30%-31%, Q4 tax rate 32%. Sees FY operating basis net interest revenue near high end of $2.25B-$2.28B range previously communicated. Says capital position "strong." Says repurchase program, dividends the best way to return value to shareholders. Says revenue could be impacted by overall market conditions. Sees Q4 net interest revenue down vs. Q3. Sees Q4 expenses higher due to upward pressure on regulatory related costs. Comments made on the Q3 earnings conference call.
08:02 EDTBKBNY Mellon unit gets nod for sale of Chinese jv stake, Reuters reports
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07:39 EDTSTTState Street says sees positive operating leverage for FY14
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07:07 EDTSTTState Street reports Q3 operating EPS $1.35, consensus $1.21
Reports Q3 revenue $2.58B, consensus $2.61B. Provision for loan losses of $2 million was flat with the second quarter of 2014 and increased $2 million from the third quarter of 2013. Return on average common shareholders' equity of 10.6% decreased from 11.9% in the second quarter of 2014 and from 10.8% in the third quarter of 2013. Tier 1 common ratio as of September 30, 2014, calculated under the advanced approaches in conformity with the Basel III final rule, was 12.7%. Estimated pro forma Basel III tier 1 common ratio as of September 30, 2014, calculated under the standardized approach in conformity with the Basel III final rule, was 10.9%.
October 23, 2014
15:39 EDTSTTNotable companies reporting before tomorrow's open
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10:01 EDTSTTCapital Link to hold a forum
Capital Link Dissect ETFs Forum is being held in New York on October 23.
09:41 EDTBKBNY Mellon names Wiener Chief Risk Officer
BNY Mellon appointed James Wiener senior executive vice president and Chief Risk Officer for the company, effective November 24. Wiener joins BNY Mellon from Oliver Wyman Group.
October 22, 2014
06:16 EDTBKBNY Mellon's Hong Kong unit to launch wealth management strategy, FT says
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October 20, 2014
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 17, 2014
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.

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