Stock Market & Financial Investment News

News Breaks March 18, 2013 11:12 EDT USB, DB U.S. Bancorp to acquire U.S. Municipal Bond Trustee Business from Deutsche Bank U.S. Bancorp (USB) announced that its lead bank, U.S. Bank National Association, has entered into a definitive agreement to purchase the municipal bond trustee business of Deutsche Bank (DB). Expected to close in the third quarter, the transaction will add approximately $57B to the more than $3T in assets currently under administration within U.S. Bank's corporate trust division. U.S. Bank has approximately 125,000 trust and agency contracts. The Deutsche Bank transaction will add another 1,100 contracts. Terms of the agreement are not being disclosed. News For USB;DB From The Last 14 Days Check below for free stories on USB;DB the last two weeks. Sign up for a free trial to see the rest of the stories you've been missing. May 23, 2013 06:29 EDT DB Software firm Luxoft files for IPO in New York, Bloomberg reports Subscribe for More Information May 22, 2013 09:02 EDT USB Financials upgraded to Overweight from Market Weight at Wells Fargo Wells Fargo believes that financials' earnings continue to be the strongest of any sector in the S&P 500. The firm thinks that the sector's stocks appear to be breaking out from a technical standpoint. Citigroup (c) and Ameriprise Financial (AMP) are on the firm's priority list. May 21, 2013 10:00 EDT DB On The Fly: Analyst Downgrade Summary Today's noteworthy downgrades include: Acquity Group (AQ) downgraded to Neutral from Buy at Roth Capital... Beazer Homes (BZH) downgraded to Neutral from Buy at Sterne Agee... CME Group (CME) downgraded to Neutral from Outperform at Macquarie... Carnival (CCL) downgraded to Neutral from Buy at UBS... Coach (COH) downgraded to Equal Weight from Overweight at Morgan Stanley... Deutsche Bank (DB) downgraded to Neutral from Overweight at JPMorgan... First Republic Bank (FRC) downgraded to Hold from Buy at Jefferies... Franklin Resources (BEN) downgraded to Neutral from Outperform at Macquarie... Life Technologies (LIFE) downgraded to Underperform from Outperform at CLSA... Oil States (OIS) downgraded to Neutral from Buy at Sterne Agee... Raymond James (RJF) downgraded to Market Perform from Outperform at Wells Fargo... VF Corp. (VFC) downgraded to Market Perform from Outperform at Wells Fargo... WellCare (WCG) downgraded to Neutral from Buy at Goldman... Huaneng Power (HNP) downgraded to Neutral from Buy at Citigroup... Comerica (CMA) downgraded to Neutral from Buy at DA Davidson... Beazer Homes (BZH) downgraded at Sterne Agee... Oil States (OIS) downgraded at Sterne Agee... eHealth (EHTH) downgraded to Neutral from Buy at Lazard Capital... Carnival (CCL) downgraded to Market Perform from Outperform at Wells Fargo... Warner Chilcott (WCRX) downgraded to Neutral from Positive at Susquehanna. 07:56 EDT DB Qatar buys stakes in Deutsche Bank, VTB, FT reports Subscribe for More Information 07:13 EDT USB U.S. bank mergers less likely this year, Bloomberg reports Subscribe for More Information 05:46 EDT DB Thomson Reuters, others to challenge Bloomberg messaging, WSJ reports Subscribe for More Information 05:42 EDT DB Deutsche Bank downgraded to Neutral from Overweight at JPMorgan Subscribe for More Information May 16, 2013 12:32 EDT DB EU bank stress test delayed until 2014 by regulator The EBA agreed on recommendations to supervisors to conduct asset quality reviews on major EU banks. While banks’ capital positions were significantly strengthened under the EBA’s recapitalisation exercise, the objective of the asset quality exercises will be to review banks’ classifications and valuations of their assets so to help dispel concerns over the deterioration of asset quality due to macroeconomic conditions in Europe. Since appropriately reviewed balance sheets are a key input to an effective stress test, the EBA has also adjusted the timeline of the next EU-wide stress test so to conduct the exercise in 2014 once the asset quality reviews are completed. However, to ensure transparency and comparability over the years, the EBA will provide, in 2H, appropriate disclosure on the actual exposures of the EU banking sector. Reference Link 08:39 EDT DB Hartford Financial hires Deutsche to find buyer for Japan unit, Bloomberg says Hartford Financial Services (HIG) engaged Deutsche Bank (DB) to seek a buyer for its Japanese annuity unit, according to Bloomberg, citing people with knowledge of the matter. Reference Link 08:33 EDT USB BofA/Merrill's gobal financial analysts hold an analyst/industry conference call Global Financial Institutions Analysts discuss their Global Financials Quarterly Best Ideas Report on an Analyst/Industry conference call. Relevant companies AIG, ALL, ASBC, BCH, BKU, BBT, BBD, C, CMA, EVER, FITB, FHN, FRC, FULT, HBAN, ING, KEY, MTB, PNC, RF, STI, SUSQ, SNV, HIG, USB, WFC, XL and ZION may be included on the Analyst/Industry conference call to be held on May 16 at 10 am. 06:41 EDT USB Big banks to benefit from U.S. concession on derivatives, NY Times says Subscribe for More Information May 14, 2013 08:33 EDT USB CFTC investigates swap contracts, FT reports The Commodity Futures Trading Commission issued a “special call” asking Wall Street banks and other traders to provide documents that would prove recent derivatives transactions known as “exchanges of futures for swaps” were legal. Lawyers at the CFTC enforcement division are also scrutinizing the trades for possible violations. The probe is into the legitimacy of more than 1M energy and metals transactions by the biggest traders in commodities markets over the past two years.Reference Link 05:44 EDT DB Banks work deals from both sides of the field, WSJ reports Subscribe for More Information May 13, 2013 15:04 EDT USB Fed says large banks must submit midyear stress tests on July 5 Eighteen large U.S. bank holding companies are required to submit the results of their company-run, midyear stress tests to the Federal Reserve on July 5, the Federal Reserve said. The Dodd-Frank Wall Street Reform and Consumer Protection Act required that large bank holding companies and non-bank financial institutions that are designated for Federal Reserve supervision by the Financial Stability Oversight Council conduct two stress tests each year. In the midyear test, which is being conducted for the first time in 2013, each firm develops its own baseline, adverse, and severely adverse scenarios to best reflect its individual operations and risks. Each firm in the midyear test is required to release the results produced under its severely adverse scenario, helping promote market discipline and understanding of the financial conditions and risks of individual firms, between September 15 and September 30, the Fed added. 06:49 EDT DB ECB member says negative deposit rates would help economy, Reuters says Subscribe for More Information May 10, 2013 10:01 EDT USB U.S. Bancorp awardeed $65M of new markets tax credit allocation Subscribe for More Information 08:40 EDT USB U.S. Bancorp management to meet with Deutsche Bank Subscribe for More Information Sign up for a free trial to see the rest of the stories you've been missing.