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Stock Market & Financial Investment News

News Breaks
February 24, 2014
09:01 EDTMS, TLPTransmontaigne Partners enters into terminaling services agreement
TransMontaigne Partners L.P. (TLP) announced that its wholly owned subsidiary, TransMontaigne Operating Company L.P., has entered into a terminaling services agreement with an unrelated third-party effective June 1, 2014 relating to the receipt, storage and delivery of marine fuels using tanks with an aggregate capacity of approximately 1.35 million barrels at its Port Everglades and Fisher Island terminals. The tanks related to this new agreement, known as the Florida bunker tanks, were previously used by Morgan Stanley Capital Group under the Florida-Midwest Terminaling Services Agreement between TLP and Morgan Stanley (MS). The new agreement has an initial term of 2 years with options to renew thereafter. “We are pleased to complete this fee-based transaction with a high quality customer,” stated Chuck Dunlap, CEO of TLP. Morgan Stanley has been working with TLP over the last year to ensure a smooth transition to a new customer for this portion of the Florida bunker tanks. As previously disclosed, the existing agreement with Morgan Stanley for the Florida bunker tanks at these facilities, as well as at TLP’s Cape Canaveral and Port Manatee facilities, will terminate effective May 31, 2014. TLP’s management expects that the new agreement will generate slightly less revenue related to the Florida bunker tanks at Fisher Island and Port Everglades than the Morgan Stanley agreement generates with respect to those tanks. TLP is continuing to market the Florida bunker tanks at its Cape Canaveral and Port Manatee terminals.
News For TLP;MS From The Last 14 Days
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August 3, 2015
08:43 EDTMSBrookings Institute to hold a discussion
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August 2, 2015
19:43 EDTMSMorgan Stanley brokers claim being underpaid, FT says
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July 31, 2015
06:40 EDTMSU.S. banks prepared to take advantage of Euro lenders' cautions, WSJ says
U.S. banks are preparing to advance in the sector after reporting earnings, with executives touting the gloom coming from their European counterparts as a major opportunity to capitalize on their newfound advantage, the Wall Street Journal reports. On Thursday, Deutsche Bank (DB) CEO John Cryan said that the company must "shrink" its balance sheet, while Barclays (BCS) chairman John McFarlane said that Wall Street lenders are "an enormous threat" to Euro investment banks, the report says. On the other hand, Morgan Stanley (MS) chairman James Gorman said after reporting earnings last week that the company is poised to advanced in the debt trading sector, and that "there's a potential for, over a period of time, share gain for our business," the report says. In addition, Goldman Sachs finance chief Harvey Schwartz said that the company is "seeing potential big restructuring on the European side," the report adds. Publicly traded companies in the European space include Banco Santander (SAN), Barclays (BCS), Credit Suisse (CS), Deutsche Bank (DB), HSBC (HSBC), ING Groep (ING), Lloyds Banking (LYG), RBS (RBS) and UBS (UBS). Publicly traded companies in the U.S. space include Bank of America (BAC), Citi (C), Goldman Sachs (GS), JPMorgan (JPM), Morgan Stanley (MS), U.S. Bancorp (USB) and Wells Fargo (WFC). Reference Link
July 30, 2015
06:55 EDTMSBanks pitch total-return swaps as stock purchase alternative, WSJ reports
Banks have been pitching certain hedge fund clients on using derivatives instead of actual stocks when placing certain bets in an effort to lessen the impact of new capital rules on the banks' businesses, the Wall Street Journal reports, citing people familiar with the efforts. The shift involves derivatives known as total-return swaps that mirror the effects of owning a stock or other asset, the report says. Units of Bank of America (BAC), Goldman Sachs (GS), JPMorgan Chase (JPM), Morgan Stanley (MS), and UBS (UBS) are among the banks asking clients to shift trades into total-return swaps instead of underlying securities, the report says. Reference Link
July 29, 2015
10:00 EDTMSOn The Fly: Analyst Downgrade Summary
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07:21 EDTMSMorgan Stanley downgraded to Neutral from Buy at Guggenheim
Guggenheim downgraded Morgan Stanley to Neutral due to shares approaching its fair value estimate of $43.
July 27, 2015
06:26 EDTMSSymphony Communication eyes $1B funding round, WSJ reports
Symphony Communication Services, an instant-messaging software company backed by Wall Street firms including Goldman Sachs (GS), is eyeing an investment round that may value it at as much as $1B, the Wall Street Journal reports, citing people familiar with the matter. The startup is canvassing a range of possible new investors, including venture-capital funds and additional financial firms, the report says. Symphony also wants funds from its existing backers, including Goldman, Morgan Stanley (MS), JPMorgan Chase (JPM), and BlackRock (BLK), the report says. Reference Link

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