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Stock Market & Financial Investment News

News Breaks
June 30, 2014
12:15 EDTV, USBU.S. Bancorp reaches settlement with U.S. Department of Justice
U.S. Bancorp (USB) announced that it has reached a settlement with the U.S. Department of Justice in order to resolve an investigation relating to the endorsement of mortgage loans under the Federal Housing Administrationís insurance program. The company cooperated fully with the DOJ investigation and chose to settle this matter for $200M without an admission of liability to avoid the path of costly and protracted litigation as well as distractions to the business. U.S. Bancorp has a legacy of being a respected mortgage lender, including a decades-long, strong working relationship with HUD and its FHA loan programs. In addition, during Q2 and prior to the settlement agreement with the DOJ, the company sold 3M shares of the Class B common stock of Visa (V) resulting in a net pretax gain of $214M. After the sale, the company continues to own approximately 9.6M Visa Class B shares. The combination of the settlement and the sale of Visa Class B shares is expected to be neutral to earnings-per-share in Q2.
News For USB;V From The Last 14 Days
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December 19, 2014
07:31 EDTUSBLarge banks oil exposure manageable, says Wells Fargo
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December 18, 2014
15:16 EDTUSBFed gives banks until July 2016 to to conform investments with covered funds
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December 17, 2014
08:31 EDTVVisa MasterCard shares undervalued, says Bernstein
Bernstein believes that the current valuations of Visa (V) and MasterCard (MA) suggests that their payments volumes growth will decelerate to 6%-7% by 2017. The firm disagrees with this view, as it expects the companies to generate double digit volume growth for five to ten more years, Bernstein keeps Outperform ratings on both stocks.
December 16, 2014
09:59 EDTUSBOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: BB&T (BBT) initiated with a Neutral at Guggenheim... Bank of America (BAC) initiated with a Buy at Guggenheim... Ciena (CIEN) initiated with a Neutral at Wedbush... Cimarex Energy (XEC) initiated with a Perform at Oppenheimer... Citigroup (C) initiated with a Neutral at Guggenheim... Extended Stay America (STAY) initiated with a Market Perform at JMP Securities... Infinera (INFN) initiated with a Neutral at Wedbush... JPMorgan (JPM) initiated with a Neutral at Guggenheim... Morgan Stanley (MS) initiated with a Buy at Guggenheim... Newfield Exploration (NFX) initiated with an Outperform at Oppenheimer... Nike (NKE) initiated with a Market Perform at Cowen... PNC Financial (PNC) initiated with a Neutral at Guggenheim... Peak Resorts (SKIS) initiated with an Outperform at FBR Capital... Peak Resorts initiated with an Outperform at Oppenheimer... Ralph Lauren (RL) initiated with an Outperform at Cowen... U.S. Bancorp (USB) initiated with a Neutral at Guggenheim... Under Armour (UA) initiated with an Outperform at Cowen... Wells Fargo (WFC) initiated with a Neutral at Guggenheim... Whiting Petroleum (WLL) initiated with an Outperform at Oppenheimer... Lowe's (LOW) initiated with a Neutral at Nomura... Home Depot (HD) initiated with a Neutral at Nomura... Estee Lauder (EL) initiated with a Buy at KeyBanc... Huntsman (HUN) initiated with a Buy at Nomura... Dow Chemical (DOW) initiated with a Buy at Nomura.
09:02 EDTUSBU.S. Bancorp's Elavon, Union Bank extend multi-year alliance
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December 15, 2014
16:14 EDTUSBU.S. Bancorp initiated with a Neutral at Guggenheim
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December 12, 2014
08:09 EDTUSBBofA/Merrill financial analysts hold an analyst/industry conference call
Banks Analyst Najarian, along with Capital Markets Analyst Carrier, Specialty Finance Analyst Bruce discuss the year ahead in Financials, covering the Banks, Capital Markets, Life and P/C Insurance, REIT, Specialty Finance and Canadian Banks/Life Insurance sectors on an Analyst/Industry conference call to be held on December 16 at 10 am.
December 10, 2014
11:27 EDTUSBU.S. Bancorp CFO says would consider special dividend
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10:00 EDTUSBU.S. Bancorp long-term goals include ROE 16%-19%
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December 9, 2014
14:42 EDTUSBFed sees setting capital surcharge up to 4.5% for big U.S. banks, Bloomberg says
Bloomberg cites surcharge estimates in Federal Reserve staff memo. 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).
December 8, 2014
14:50 EDTVVisa price target raised to $295 from $260 at Argus
Argus raised its FY15 and FY16 adjusted EPS estimates for Visa (V) and correspondingly increased its price target on the stock to $295 from $260. The firm, which keeps a Buy rating on Visa, expects rising transaction volume to lead to higher consensus earnings estimates and believes the stock should trade at a higher multiple than peer MasterCard (MA), given its faster EPS growth rate and more consistent earnings performance.
10:00 EDTUSBOn The Fly: Analyst Downgrade Summary
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06:35 EDTUSBValue of Wall Street's M&A bankers has risen, NY Times says
The value of Wall Street's bankers who advise large companies seems to be increasing, while traders are becoming less valuable, according to The New York Times. Bankers who work on M&A deals are expecting their bonuses to increase, while traders anticipate that their compensation will drop, the newspaper added. Furthermore, banks seem to be going the extra mile to hire top notch bankers, the newspaper stated. Publicly traded large 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
06:13 EDTVStocks with implied volatility below IV index mean; WFM V
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05:59 EDTUSBU.S. Bancorp downgraded to Underperform from Market Perform at Keefe Bruyette
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