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Stock Market & Financial Investment News

News Breaks
February 27, 2013
06:07 EDTTOL, BAC, C, DB, GS, ELN, DHI, PHM, LEN, JPMOn the Fly: Periodicals Wrap-Up
WALL STREET JOURNAL: Fed Chairman Bernanke came down firmly in favor of continuing the central bank's bond-buying programs, even as he acknowledged concerns that the efforts might encourage risk-taking that could one day destabilize markets or the economy, the Wall Street Journal reports...Sales of new homes are surging in the U.S., and the trend partly reflects the small inventory of previously owned homes, now at a 13-year low after investors picked over the long-depressed market. But the strong sales of new homes also show how the nation's home builders (TOL, LEN, PHM, DHI) have mastered the art of selling, even to cash-poor buyers or those with spotty credit histories, the Wall Street Journal reports...REUTERS: Investment firm Royalty Pharma doesnít want to take "no" for an answer to its $6.6B offer for Irish drugmaker Elan Corp. (ELN), and plans to spend the next few weeks calling Elan shareholders about its February 18 offer, sources say, Reuters reports...The European parliament and EU states could agree today to impose caps on bankers' bonuses, a measure that would channel public fury at financial sector greed, but which opponents say marks a reckless overreach into private pay deals, Reuters reports...BLOOMBERG: Wall Street junk-bond underwriters (GS, JPM, DB, C, BAC) selling debt at a record pace after the securities returned 19% last year, say itís obvious that prices will drop when interest rates rise. So donít blame the banks, Bloomberg reports...JPMorgan Chase (JPM) CEO Jamie Dimon said banks are accumulating more capital than they need as regulators push lenders to build equity. Dimon has said excessive regulation could impede growth as international authorities and the Fed push banks to guard capital to better withstand another financial crisis, Bloomberg reports.
News For TOL;LEN;PHM;DHI;ELN;GS;DB;C;BAC;JPM From The Last 14 Days
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August 21, 2014
09:11 EDTBACSEC says Bank of America settles two cases
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09:09 EDTBACBofA settlement to reduce Q3 pre-tax earnings by approx. 43c per share after tax
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09:09 EDTBACBofA to pay $9.65B in cash, $7B worth of consumer relief in settlement
Borrower relief will be in the form of mortgage modifications, including first-lien principal and forbearance forgiveness and second-lien extinguishments, low- to moderate-income mortgage originations, and community reinvestment and neighborhood stabilization efforts, with initiatives focused on communities experiencing, or at risk of, urban blight. This includes lien releases, uninhabitable and abandoned property demolition, and remediation and property donations. Also, Bank of America will support the expansion of available affordable rental housing. Bank of America has committed to complete delivery of the relief by no later than August 31, 2018. The consumer relief will be subject to oversight by an independent monitor.
09:07 EDTBACBofA to pay $16.65B in settlement with DOJ, state AGs
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09:03 EDTBACBank of America to pay $16.65B in settlement with DOJ, Bloomberg reports
08:41 EDTBACBank of America, DOJ settlement to be announced today, CNBC reports
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08:31 EDTJPMMorgan Stanley, JP Morgan selected by Shake Shack to lead IPO, Reuters says
JP Morgan (JPM) and Morgan Stanley (MS) have been picked by Shake Shack to lead the fast-food restaurant chain's IPO, sources tell Reuters. The offering could come as early as this year. Reference Link
06:43 EDTJPM, GS, BAC, CRegulators up bank warning efforts for poor risk assessment, Reuters says
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August 20, 2014
18:29 EDTJPM, BAC, GSBofA, JPMorgan weigh plans to raise salaries for junior bankers, Bloomberg says
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17:12 EDTBACOn The Fly: Closing Wrap
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14:35 EDTBACBofA reaches $17B settlement over mortgage backed securities sales, AP says
Bank of America along with federal and state authorities agreed upon a $17B settlement for the bank in connection with the sale of mortgage-backed securities in the run-up to the 2008 financial crisis, says AP. Reference Link
14:20 EDTBACBofA reaches $17B settlement over mortgage backed securities sales, AP says
11:37 EDTGSGoldman ups U.S. junior employees FY15 wages by 20%, Bloomberg says
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10:32 EDTGSGoldman to up U.S. junior employees FY15 salaries by 20%, Bloomberg says
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08:38 EDTBACRevolution Lighting enters loan, security agreement with BofA
Revolution Lighting (RVLT) announced that it has entered into a three year loan and security agreement with Bank of America (BAC). The agreement allows Revolution Lighting to borrow up to $25M on a revolving basis. Borrowings under the agreement are determined on specified percentages of eligible receivables and inventory, and bear interest either on the base rate plus specified margins or at LIBOR plus specified margins, at the election of Revolution Lighting. The loan provides Revolution Lighting with favorable interest rates with an initial interest rate of 3%. The agreement contains customary covenants and restrictions typical of these agreements.
06:17 EDTCCitigroup looks to sell Japanese retail banking unit, Reuters says
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August 19, 2014
13:08 EDTCCitigroup tells appeals court Agentina banking license at risk, Reuters reports
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12:14 EDTCCitigroup considers selling Japan retail-banking unit, WSJ reports
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06:34 EDTGSGoldman abandons effort to toss out $1B Gaddafi suit, Telegraph says
Goldman Sachs (GS) abandoned its effort to toss out a London court suit from the Libyan Investment Authority who alleged that the bank lost over $1B worth of funds during the final years of Muammar Gaddafi's reign as dictator, according to the Telegraph, citing comments from the LIA. The LIA sued both Goldman and Societe Generale (SCGLY) over claims that the banks' London divisions took-in exorbitant fees while losing money in derivative trades. Reference Link
06:20 EDTBACBofA COO transfers, senior manager assumes role, Bloomberg says
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