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Stock Market & Financial Investment News

News Breaks
March 28, 2014
06:20 EDTAXP, TGT, PNC, JPMTarget lawsuit reveals liable security firm Trustwave, WSJ reports
The data breach lawsuit against Target has revealed that private Chicago firm Trustwave Holdings is liable for the theft of 40M credit and debit card numbers last year, reports the Wall Street Journal. In the complaint, lawyers for the banks claim Trustwave's shortcomings "allowed hackers to cause the data breach." Other companies such as JPMorgan (JPM), PNC Financial (PNC) and American Express (AXP) have links with the company. Reference Link
News For TGT;JPM;PNC;AXP From The Last 14 Days
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May 14, 2015
09:31 EDTJPMJPMorgan to buy $45B in mortgage servicing rights from Ocwen
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06:49 EDTJPMBanks to pay several billion over alleged currency violations, NY Times says
Barclays (BCS), JPMorgan Chase (JPM), Citigroup (C) and the Royal Bank of Scotland (RBS) are expected to agree to pay a combined "several billion dollars" as part of a settlement with the U.S. over alleged foreign exchange rigging, according to The New York Times, which cited unnamed sources. The banks are also expected to plead guilty to criminal antitrust violations, but it is not anticipated that their operations will be significantly affected as a result of those pleas, the newspaper stated. Meanwhile, UBS (UBS) will pay a fine of up to $500M related to alleged "foreign currency misconduct," the newspaper stated. Reference Link
May 13, 2015
14:05 EDTTGTTarget May weekly volatility elevated into Q1 and outlook
Target May weekly call option implied volatility is at 26, June is at 21, July is at 19; compared to its 90-day average of 19, suggesting large price movement into the expected release of Q1 results on May 20.
May 12, 2015
17:54 EDTAXPOn The Fly: After Hours Movers
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16:44 EDTAXPAmerican Express up 1% after authorizing 150M share repurchase, raising dividend
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16:34 EDTAXPAmerican Express raises dividend by 12% to 29c per share from 26c per share
The board approved a 3c– or 12%– increase in the quarterly dividend on the company’s common stock. The dividend was raised to 29c per common share, from 26c, payable on August 10, to shareholders of record on July 2.
16:32 EDTAXPAmerican Express authorizes repurchase of up to 150M shares
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14:13 EDTJPM, PNCBove says it may be time to buy bank stocks
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May 11, 2015
09:59 EDTPNC, JPMOn The Fly: Analyst Downgrade Summary
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09:58 EDTJPMBarclays expected to pay GBP2B to settle forex rigging charges, FT says
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09:01 EDTTGTLowe's acquires leases of 13 former Target stores in Canada
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08:42 EDTPNCPNC Financial downgraded to Neutral at Susquehanna
As reported previously, Susquehanna downgraded PNC Financial to Neutral from Positive citing valuation. The firm raised its price target on PNC shares to $102 from $100.
08:18 EDTJPMBanks executives seek to push back on 'false, damaging' statements, WSJ reports
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07:46 EDTJPMJPMorgan price traget raised to $73 from $68 at BofA/Merrill
BofA/Merrill raised Buy rated JPMorgan's price target to $73 following a meeting with Chairman Jamie Dimon. The analyst believes earnings surprises are likely and the market is over-discounting the impact of regulation. BofA/Merrill expects JPMorgan to benefit from its multi-dimensional model, EPS sensitivity to rising interest rates, and a shift in Fed monetary policy which will drive bond market volatility.
07:28 EDTJPMJPMorgan downgraded to Neutral from Buy at MKM Partners
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06:54 EDTPNCPNC Financial downgraded to Neutral from Positive at Susquehanna
May 10, 2015
20:03 EDTJPMCiti, JPMorgan, UBS consider exiting U.K., Financial Times says
Citi (C), JPMorgan (JPM), and UBS (UBS) are considering exiting their London operations due to the U.K.'s bank levy, reports the Financial Times, citing people familiar with the matter. There is particular focus among the banks to reduce repurchase agreements, said three senior industry figures. The Financial Times notes that the recent Conservative win could see political maneuvers to reduce or renegotiate the levy, potentially persuading the banks to stay. Reference Link
17:45 EDTTGTJudge allows $19M Target data breach settlement to move ahead, Reuters says
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May 8, 2015
06:48 EDTJPMBanks to erase debt of bankrupt consumers from reports, NY Times says
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06:02 EDTTGTWal-Mart expects to invest C$350M in Canadian market
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