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June 3, 2014
30th Annual Standard & Poor’s Insurance Conference to be held in New York on June 3-5.
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November 20, 2015
05:30 EDTBCSBarclays downgraded to Equal Weight from Overweight at Morgan Stanley
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November 19, 2015
17:31 EDTALLAllstate adopts proxy access bylaw amendments
Allstate announced that its board has adopted amendments to the company's bylaws providing "proxy access" shareholder rights. "Allstate's board is committed to strong corporate governance and creating value for our shareholders," said Thomas Wilson, chairman and CEO. "Our board proactively adopted proxy access as part of our ongoing commitment to governance best practices that include dialogue, transparency and responsiveness to shareholder views." The bylaw amendments will allow holders of at least 3 percent of Allstate's outstanding common shares, who have held the shares continuously for at least three years, to submit eligible director candidates for up to 20 percent of the board. Up to 20 shareholders may aggregate their shares to reach the 3 percent ownership threshold. Proxy access rights will first be available to shareholders in connection with Allstate's 2017 annual shareholders meeting.
16:00 EDTBACOptions Update; November 19, 2015
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13:45 EDTIBMIBM mulling 3,000 job cuts in Germany, Reuters says
IBM is weighing cutting 3,000 jobs in Germany over the next two years, Reuters reports, citing Wirschafts Woche magazine. The magazine was quoting a union leader who sits on the firm's supervisory board, the report says. Reference Link
09:34 EDTBACActive equity options trading on open
Active equity options trading on open: AAPL CHK BAC FB PFE MU GMCR AMZN NFLX BBY BABA CRM QCOM
08:19 EDTALLAllstate reports October catastrophe loss estimate of $172M pre-tax
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November 18, 2015
15:24 EDTAIGIcahn says had 'constructive' meeting with AIG CEO last week, Reuters reports
Carl Icahn says still long AIG, reiterates call for break-up, Reuters reports, citing comments made by the investor at the news service's summit.
10:34 EDTBCSBarclays to pay added $150M penalty over forex trading misconduct
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09:43 EDTAAWWAtlas Air management to meet with BB&T
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08:55 EDTBAC, GSMorgan Stanley exec sees Q4 not much better than Q3 for banks, DJ reports
Morgan Stanley (MS) Institutional Securities President Colm Kelleher cautioned that fixed-income markets "still seem subdued," according to Dow Jones, citing his comments at an investment conference. Morgan Stanley was among the banks that reported lower revenue from fixed-income, currency and commodities trading during the third quarter and Kelleher said he doesn't think "the fourth quarter is going to be much better," the report noted. Large bank peers to Morgan Stanley include Bank of America (BAC), Citi (C), Goldman Sachs (GS), JPMorgan (JPM), U.S. Bancorp (USB) and Wells Fargo (WFC). Reference Link
07:01 EDTMETMetLife says will support Trans-Pacific Partnership
Steven A. Kandarian, chairman, president and CEO of MetLife, issued the following statement on the Trans-Pacific Partnership, a free trade agreement among 12 nations of the Pacific Rim. "After analyzing the text of the TPP, MetLife will support the agreement and seek congressional support for its ratification. As one of the largest life insurers in the world with operations in nearly 50 countries, MetLife has four key priorities in assessing any trade deal: improved market access, a level competitive playing field, ease of cross-border data flows, and regulatory transparency. The TPP makes meaningful progress on all of them. We are confident that ratification of the TPP will lead to faster economic growth, greater choice and lower costs for consumers in the markets where we do business, and more high-paying jobs in the U.S. The agreement is not perfect - no trade deal is - but on balance the TPP represents a significant step in the right direction and deserves to be ratified."
06:54 EDTBCSBarclays eyes more investment bank cuts, Telegraph reports
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06:50 EDTAIGAIG CEO opposes split but open to divestitures, WSJ says
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06:13 EDTBACBofA CEO: Banks trying to revamp checking to fend off startups, Bloomberg says
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November 17, 2015
18:16 EDTBCSBarclays set to pay at least $100M in new forex fine, FT says
Barclays is set to pay "at least" $100M by next month to settle allegations by the New York Department of Financial Services that the bank abused foreign exchange markets through its electronic trading platform, reports Financial Times, citing sources. Reference Link
16:01 EDTBACOptions Update; November 17, 2015
iPath S&P 500 VIX Short-Term Futures up 1.32 to 21.07. Option volume leaders: GE BAC AAPL FB NFLX SYF WMT CSCO MU SUNE VRX BABA AMZN HD FCX
09:02 EDTBCSAnalyst pans competing products, says buy Fitbit
Shares of previous high-flier Fitbit (FIT) have dropped about 30% in the last two weeks following the company's third quarter earnings report, but an analyst at Bank of America upgraded his view of the fitness tracker maker this morning, saying that now is the time to buy ahead of fourth quarter results that may be boosted by the "underwhelming" new products being launched by its competitors. UNDERWHELMING COMPETITION: Fitbit's sales guidance for this holiday quarter looks conservative, contends Bank of America analyst Nat Schindler, who notes that the company only had the launch of one new product last December but will have the Charge, Charge HR and Surge to drive sales this season. Schindler also notes that the company's international advertising has expanded into more countries ahead of the holidays this year. Key, however, may be the "underwhelming" lineup of new or updated fitness trackers launched by competitors, such as the Microsoft's (MSFT) Band 2, Jawbone's UP4 and Sony's (SNE) Smartband 2, many of which have only minor improvements and no "must have" features to pull consumers away from Fitbit, Schindler told investors in his research note. PLATFORM PICKING UP STEAM: The analyst also pointed out that Fitbit now has more than 20 companies signed onto its health and wellness platform, including big names like Target (TGT) and Barclays (BCS), which he believes should help drive revenue beats in the upcoming fiscal year due to increased device sales. Also, the additional dashboard data should help Fitbit maintain long-term user engagement, said Schindler. APPLE WATCH: Apple's (AAPL) Apple Watch is largely viewed as the biggest potential competitive threat to Fitbit's offerings, but on the fitness tracker maker's last earnings call CEO James Park said Fitbit's products differ from those of its competitors in several key aspects, including pricing, cross-platform compatibility, brand awareness and product line breadth. Other wearables makers include Garmin (GRMN) and Samsung. PRICE ACTION: Since the day after Fitbit's last earnings report after the market close on November 2, its shares have fallen about 29.5% to close yesterday at $28.80. In pre-market trading this morning, Fitbit shares rose 2% to $29.40.
08:34 EDTBCSNAREIT to hold a conference
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07:50 EDTBAC, BCSClearing House to hold a conference
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06:31 EDTIBMBerkshire buys more IBM shares, WSJ says
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