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Stock Market & Financial Investment News

News Breaks
January 29, 2013
07:45 EDTFISV, CYN, UNH, C, FITB, BK, MAStrategic Solutions Network to host a summit
Healthcare Payments Innovations Summit is being held in Tempe, Arizona on January 28-29.
News For UNH;MA;FITB;CYN;BK;C;FISV From The Last 14 Days
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February 20, 2015
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
08:41 EDTUNHInsurers should be bought on weakness related to MA rates, says BMO Capital
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February 19, 2015
12:45 EDTMAOn The Fly: Midday Wrap
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12:09 EDTMAAmerican Express confirms intent to appeal federal court ruling
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11:00 EDTMAAmerican Express plans to appeal antitrust ruling, CNBC reports
American Express stated to CNBC that the company is "disappointed" with a court decision in an antitrust matter and plans to file an appeal. "The court's ruling will not provide any benefit to consumers and will, in fact, harm competition by further entrenching the two dominant networks. We continue to believe that the Department of Justice's arguments are flawed and believe we should prevail on appeal," American Express stated. Reference Link
06:47 EDTCReport 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
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.
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.
07:21 EDTCJPMorgan, Citi top government report of riskiest banks, Reuters reports
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06:56 EDTUNHObamacare enrollment exceeded goal, Politico reports
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February 17, 2015
17:29 EDTBKBerkshire Hathaway gives quarterly update on stakes, exits Exxon Mobil
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16:11 EDTBKBNY Mellon adjusts Q4 EPS to 18c after $598M litigation charge
Bank of New York Mellon announced that it is adjusting its financial results for Q4 to include an additional after-tax litigation expense of $598M in anticipation of the resolution of several previously disclosed matters, including substantially all of the foreign exchange-related actions. As a result, BNY Mellon expects that there will be a significant decline in the aggregate range of reasonably possible losses for legal proceedings for the quarter ended Dec. 31, 2014. BNY Mellon is adjusting its Q4 results to net income of $209M, or 18c per share, in recognition of the 40c per common share charge primarily from the subsequent litigation provision offset by the previously disclosed tax benefit, net of litigation and restructuring charges. Q4 revenue was $3.7B, an increase of 2%, or a decline of 3% as adjusted.
16:00 EDTCOptions Update; February 17, 2015
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14:01 EDTCCiti reports January credit loss 2.30% vs. 2.79% last month
Reports January delinquencies 1.61% vs. 1.56% last month.
09:40 EDTCActive equity options trading on open
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08:04 EDTCWuXi PharmaTech enters into loan agreement with consortium led by Citi
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06:39 EDTCBanks settle claims related to mortgage securities, Reuters says
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