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Stock Market & Financial Investment News

News Breaks
February 27, 2013
06:07 EDTJPM, DB, DHI, TOL, BAC, GS, PHM, C, ELN, LENOn 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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February 20, 2015
15:05 EDTCSpringleaf in lead to buy OneMain for over $4B, Reuters says
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14:18 EDTCSpringleaf in advanced talks to buy OneMain from Citi for over $4B, Reuter says
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10:47 EDTCNY AG says Santander Bank to adopt new policies regarding use of ChexSystems
New York Attorney General Eric T. Schneiderman announced that Santander Bank, N.A. (SAN) has agreed to adopt new policies governing its use of ChexSystems, a consumer-reporting agency that screens people seeking to open checking or savings accounts. Santanderís new policies are expected to allow thousands of additional New Yorkers and consumers nationwide to open bank accounts by September 30. The change comes amid concerns that screenings by ChexSystems and other consumer-reporting agencies, which are used by most of the nationís banks, adversely affect lower-income applicants and force them to turn to high-cost alternative financial services like check-cashing outlets. With this agreement, Santander now joins Capital One (COF) and Citibank (C) as the third bank to commit to overhaul its use of ChexSystems. The three banks operate a combined 613 branches across New York State and 2,822 branches nationwide.
08:54 EDTCCiti confirms retirement of global consumer banking head Manuel Medina-Mora
In a filing, Citigroup said that on February 18, Manuel Medina-Mora, Citiís Co-President and CEO, Global Consumer Banking, submitted a notice of retirement to Citi. The effective date of the retirement is June 1.
08:43 EDTCCiti's head of consumer banking set to retire in June, WSJ reports
Citigroup co-president and head of consumer banking, Manuel Medina-Mora, is planning to retire in June, The Wall Street Journal reports, citing memos sent by Medina-Mora and Citigroup CEO Michael Corbat. Medina-Mora is expected to stay with the bank as the non-executive chairman of Banamex. Citigroup plans to name a new head of the consumer bank "in the near future." Reference Link
06:03 EDTJPMAnn Inc. working with JPMorgan on potential sale, Bloomberg reports
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February 19, 2015
17:58 EDTJPMAnn Inc. working with JPMorgan on potential sale, Bloomberg says
14:21 EDTDBS&P reportedly says Greece contagion not a major risk, Reuters reports
The risk of contagion spreading from Greece to other European countries is not that large, a German newspaper quoted S&P's chief sovereign ratings officer as saying, according to Reuters. The euro zone would be able to handle an exit of the bloc by Greece, the ratings officer was quoted as saying, Reuters reported. Publicly traded European banks 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). Reference Link
07:12 EDTGSWharton Health Care Club to hold a conference
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07:04 EDTTOLToll Brothers weekly volatility elevated into Q4 and outlook
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06:47 EDTC, GS, BAC, JPMReport shows subprime consumer loans at pre-2007 levels, WSJ says
Equifax (EFX) has released a report stating nearly 40%, or 50M, of auto loans, credit cards, and personal loans during the first 11 months of 2014 were made to subprime customers, the highest levels since the 2007 financial crisis, reports the Wall Street Journal. LendingTree (TREE) Chief Marketing Officer Gabriel Dalporto attributes the growth to nonbank lenders under less regulatory scrutiny than large banks. Publicly traded companies in the 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
06:04 EDTDBFCA to investigate investment and corporate banking
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February 18, 2015
09:37 EDTCOption volume leaders on open
Option volume leaders: AAPL TSLA TWTR CELG APO NFLX AXP APA LNKD C GILD according to Track Data.
09:16 EDTDBOcwen comments on Home Loan Servicing agreement with HSART Trust
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08:35 EDTDBHome Loan Servicing signs agreement with Deutsche Bank National Trust
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08:11 EDTCCiti announces $100b, 10-year commitment to finance sustainable growth
Citi announced a landmark commitment to lend, invest and facilitate a total of $100B within the next 10 years to finance activities that reduce the impacts of climate change and create environmental solutions that benefit people and communities. Citiís previous $50B goal was announced in 2007 and was met three years early in 2013. With this $100B initiative, Citi will build on its leadership in renewable energy and energy efficiency financing to engage with clients to identify opportunities to finance greenhouse gas reductions and resource efficiency in other sectors, such as sustainable transportation.
07:33 EDTGSGoldman Sachs vows legal battle with Bank of Portugal over loan, Reuters says
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07:21 EDTGS, BAC, C, JPMJPMorgan, Citi top government report of riskiest banks, Reuters reports
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07:15 EDTJPMPeterson Institute for International Economics to hold a discussion
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06:57 EDTJPMJPMorgan may shrink interest-rate trading, other units, Bloomberg says
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