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Stock Market & Financial Investment News

News Breaks
August 12, 2014
07:48 EDTUSB, MS, BAC, C, WFC, GS, JPMBanks posted second-highest profit in 23 years in second quarter, WSJ says
U.S. banks posted second quarter net income of $40.24B, which was just below the record $40.36B notched in the first quarter of 2013, reported The Wall Street Journal, citing data from research firm SNL Financial. Publicly traded large U.S. banks include Bank of America (BAC), Citigroup (C), Goldman Sachs (GS), JPMorgan (JPM), Morgan Stanley (MS), U.S. Bancorp (USB) and Wells Fargo (WFC). Reference Link
News For USB;MS;BAC;C;WFC;GS;JPM From The Last 14 Days
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September 8, 2014
09:00 EDTCCitigroup names Peter Charrington as global head of citi Private Bank
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07:24 EDTWFC, JPM, MS, CBarclays to hold a conference
Global Financial Services Conference to be held in New York on September 8-10.
05:40 EDTBACBank of America upgraded to Buy from Neutral at Goldman
Goldman Sachs upgraded its rating on Bank of America (BAC) shares to Buy citing the resolution of a lot of the bank's legal issues and the shift of its earnings mix towards higher growth businesses. Goldman raised its price target for shares to $19 from $17. Bank of America closed Friday down 9c to $16.02.
September 5, 2014
16:01 EDTBACOptions Update; September 5, 2014
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10:05 EDTMSOn The Fly: Analyst Downgrade Summary
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09:06 EDTJPM, GS, BAC, CCFTC concerned about banks shifting trading operations overseas, WSJ says
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07:48 EDTMSMorgan Stanley downgraded to Neutral from Outperform at Macquarie
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07:26 EDTBAC, C, JPMApple strikes transaction fee discount deals, Bank Innovation says
Apple (AAPL) has reached deals with American Express (AXP), JPMorgan (JPM), Citigroup (C), Capital One (COF), and Bank of America (BAC) to lower card transaction fees for its soon to be launched payments venture, said Bank Innovations, citing an earlier report from Tom Noyes and confirmation by its own sources. Apple has both convinced them to consider its transactions as “card present,” which carries a lower discount rate, and has also managed to bump down the actual “card present” rate by 15 to 25 basis points, according to people with knowledge of the matter, the report noted. Reference Link
06:27 EDTJPMHealthCare.gov insurance site breached by hacker in July, WSJ reports
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September 4, 2014
16:00 EDTBACOptions Update; September 4, 2014
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09:35 EDTCActive equity options trading on open
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07:44 EDTMSMorgan Stanley jv questioned by Chinese fraud investigators, FT says
Investigators from a Chinese regional prosecutors’ office visited the offices of Morgan Stanley’s joint venture as part of their probe into a former senior official who is detained under suspicion of taking bribes, reported Financial Times. Reference Link
06:54 EDTMSEuropean Commission clears Rosneft's purchase of Morgan Stanley's oil unit
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06:40 EDTMS, C, WFC, BAC, GS, JPM, USBAgencies finalize liquidity rule for large banks
The Federal Reserve Board, the Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency finalized a rule yesterday that they said would strengthen the liquidity positions of large financial institutions. The rule will for the first time create a standardized minimum liquidity requirement for large and internationally active banking organizations., according to the agencies. Each institution will be required to hold high quality, liquid assets, or HQLA, such as central bank reserves and government and corporate debt that can be converted easily and quickly into cash in an amount equal to or greater than its projected cash outflows minus its projected cash inflows during a 30-day stress period, the agencies explained. The ratio of the firm’s liquid assets to its projected net cash outflow is its “liquidity coverage ratio,” or LCR, they said. The LCR will apply to all banking organizations with $250B or more in total consolidated assets or $10B or more in on-balance sheet foreign exposure and to these banking organizations’ subsidiary depository institutions that have assets of $10B or more, the agencies reported. The rule also will apply a less stringent, modified LCR to bank holding companies and savings and loan holding companies that do not meet these thresholds, but have $50B or more in total assets. Bank holding companies and savings and loan holding companies with substantial insurance or commercial operations are not covered by the final rule. The final rule is largely identical to the proposed rule, with a few key adjustments in response to comments from the public, the agencies stated. Those adjustments include changes to the range of corporate debt and equity securities included in HQLA, a phasing-in of daily calculation requirements, a revised approach to address maturity mismatch during a 30-day period, and changes in the stress period, calculation frequency, and implementation timeline for the bank holding companies and savings and loan companies subject to the modified LCR. Publicly traded companies in the space include Bank of America (BAC), Citigroup (C), Goldman Sachs (GS), JPMorgan (JPM), Morgan Stanley (MS), U.S. Bancorp (USB) and Wells Fargo (WFC).
06:34 EDTGSBlackstone pledges $200M to Brown's Arkkan Capital, Bloomberg says
Blackstone (BX) pledged $200M to Arkkan Capital Management, a firm that is supervised by Jason Brown, who is the former leader of Goldman Sach's (GS) Global Special Situations Group, according to Bloomberg, citing a person with knowledge of the matter. Reference Link
06:30 EDTJPMJPMorgan probe reveals computers rerouted data to Russia, Bloomberg says
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06:30 EDTGSITG launching dark pool for bonds, WSJ reports
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06:13 EDTWFCWells Fargo implied volatility of 12 at lower end of index mean range
06:13 EDTCCitigroup settles potential civil liability for violating sanction programs
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06:10 EDTGSGoldman overseeing early share trading in Alibaba IPO, Reuters says
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