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Stock Market & Financial Investment News

News Breaks
April 16, 2012
10:39 EDTUSBU.S. Bancorp April option prices bid up into Q1 and outlook
U.S. Bancorp April call option implied volatility is at 37, May is at 25; below its 26-week average of 27 according to Track Data, suggesting decreasing price movement in the expected release of Q1 results on April 17.
News For USB From The Last 14 Days
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January 23, 2015
07:23 EDTUSBBass does not expect large U.S. banks to break up
Publicly traded companies in the space include Bank of America (BAC), Citi (C), JPMorgan (JPM), and Wells Fargo (WFC). Kyle Bass of Hayman Capital continues speaking on CNBC.
06:42 EDTUSBU.S. banks preparing for prolonged low bond yields, Reuters says
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January 21, 2015
12:24 EDTUSBOn The Fly: Midday Wrap
Stocks on Wall Street were higher at midday, as details of a reported bond buying program planned by the ECB offset weakness in the Dow after IBM's (IBM) earnings report. ECONOMIC EVENTS: In the U.S., housing starts rose 4.4% in December to a 1.89M rate, versus expectations for an increase of 1.2%, while building permits fell 1.9% to a rate of 1.03M, versus expectations of an increase of 0.8%. The Bank of Canada lowered its target for the overnight rate by one-quarter of one percentage point to 0.75% in response to the recent sharp drop in oil prices, which it said will be negative for growth and underlying inflation in Canada. Reports indicated that a proposal from the European Central Bank’s executive board is calling for it to begin making bond purchases of about EUR 50B per month and continue that easing program for at least one year. In Asia, the Bank of Japan refrained from expanding its stimulus program, although it expanded and extended its loan programs aimed at boosting bank lending. Also, the BoJ cut next fiscal year's CPI forecast to 1.0% from the 1.7% it had projected three months ago. COMPANY NEWS: Last night, IBM reported better than expected Q4 earnings, though its revenue and FY15 profit outlook trailed estimates, sending the stock down over 3% this morning. Citigroup cut its price target for IBM shares to $170 from $180 after reducing its sales and earnings estimates following the tech giant's Q4 results. Citi reiterated a Neutral rating on IBM, saying it wants to see stability in fundamentals and free cash flow growth before getting more positive on the name. Meanwhile, Jefferies said IBM's cash flow guidance for 2015 is "very weak" and that the company has yet to reach a bottom. The firm continues to believe the risk/reward for shares is skewed negatively and it kept an Underperform on IBM with a $130 price target following the company's Q4 results... Netflix (NFLX) jumped 17% to trade near $409 per share after the company reported stronger than expected fourth quarter results and a number of research firms raised their price targets for the stock while pointing out the company's global subscriber growth had exceeded expectations. Bucking the trend, FBR Capital analyst Barton Crockett said Netflix's EPS would only have been in-line with the consensus outlook if non-operating items were excluded. He said he is less impressed with Netflix following its report and trimmed his price target on the stock to $400 from $425 while keeping a Neutral rating on the shares. MAJOR MOVERS: Among the notable gainers following their earnings reports were Northern Trust (NTRS), which rose 6%, and U.S. Bancorp (USB), which gained 3.5%. Among the noteworthy losers was Eldorado Gold (EGO), which dropped 19% after the company reported on its 2014 gold production, gave guidance on production in 2015, and its shares were downgraded at Credit Suisse, TD Securities and Canccord. Also lower was Acacia Research (ACTG), which fell more than 14% after a court granted a motion finding no infringement of certain method claims asserted by the company's Adaptix subsidiary against Apple(AAPL), Verizon (VZ), AT&T (T), and HTC. INDEXES: Near midday, the Dow was up 42.03, or 0.24%, to 17,557.26, the Nasdaq was up 27.36, or 0.59%, to 4,682.21, and the S&P 500 was up 12.25, or 0.61%, to 2,034.80.
10:09 EDTUSBU.S. Bancorp sees Q1 NIM down 'a few points' from 3.12%
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09:49 EDTUSBU.S. Bank promotes Andrew Cecere to COO, Kathy Ashcraft Rogers to CFO
U.S. Bank announced yesterday that Andrew Cecere, currently Vice Chairman and CFO, has been promoted to Vice Chairman and COO and will be responsible for U.S. Bank’s core lines of business: Consumer and Small Business Banking, Wholesale Banking and Commercial Real Estate, Payment Services, and Wealth Management and Securities Services. Cecere will continue to report to Richard Davis, Chairman, President, and CEO, U.S. Bank. Kathy Ashcraft Rogers, currently Executive Vice President, Business Line Planning & Reporting, will succeed Cecere as Vice Chairman and CFO. Rogers has been with U.S. Bank for 28 years and has served in a variety of leadership roles within the Finance organization. She will report to Davis and join the Managing Committee, which consists of the 14 most senior leaders at U.S. Bank.
09:47 EDTUSBU.S. Bancorp CEO Davis says management changes won't change his role
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09:45 EDTUSBU.S. Bancorp sees efficiency ratio remaining in low 50s going forward
Sees efficiency ratio remaining in low 50s going forward. Sees net charge offs "relatively stable" in Q1. Says capital position is "strong." Comments made on the Q4 earnings conference call. U.S. Bancorp shares are up 1.82% to $41.96 in morning trading.
07:24 EDTUSBU.S. Bancorp CEO says well positioned for growth as economy improves
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07:22 EDTUSBU.S. Bancorp reports book value per share $21.68 at end Q4
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07:22 EDTUSBU.S. Bancorp reports Q4 common equity tier 1 capital ratio of 9.7%
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07:20 EDTUSBU.S. Bancorp sees net charge-offs to stay relatively stable in Q1
Given current economic conditions, the company expects the level of net charge-offs to remain relatively stable in the first quarter of 2015.
07:19 EDTUSBU.S. Bancorp reports Q4 net charge-offs down 8.3% on linked quarter basis
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07:16 EDTUSBU.S. Bancorp reports Q4 EPS with items 79c, consensus 77c
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January 20, 2015
15:21 EDTUSBNotable companies reporting before tomorrow's open
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January 16, 2015
14:17 EDTUSBU.S. Bancorp volatility elevated into Q4 and outlook
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January 13, 2015
15:12 EDTUSBU.S. Supreme Court decision gives homeowners leeway to rescind mortgage loans
In an unanimous ruling, the U.S. Supreme Court ruled on Jesinoski vs. Countrywide Home Loans that homeowners are allowed to rescind home mortgages within the three years allotted under the Truth in Lending Act of 1968 by providing written notice to his/her lender. The court ruled that the borrowers were not required to file suit against the lender, which the respondents, Countrywide, claimed. The notice of rescission was sufficient to clear the homeowners of any obligation to the loan, provided they do it within the allotted time. Countrywide Home Loans is a subsidiary of Bank of America (BAC). Other publicly traded companies in the banking space include Citi (C), Goldman Sachs (GS), JPMorgan (JPM), Morgan Stanley (MS), U.S. Bancorp (USB) and Wells Fargo (WFC). Reference Link
10:00 EDTUSBOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: American Midstream Partners (AMID) initiated with a Buy at Wunderlich... Ameriprise (AMP) initiated with a Buy at Deutsche Bank... Applied DNA Sciences (APDN) initiated with a Buy at Maxim... Axalta Coating (AXTA) initiated with an Outperform at RW Baird... Bellicum Pharmaceuticals (BLCM) initiated with a Buy at Citigroup... Bonanza Creek (BCEI) initiated with a Hold at Deutsche Bank... ConocoPhillips (COP) initiated with an Underweight at JPMorgan... Core-Mark (CORE) initiated with a Buy at Jefferies... Dick's Sporting (DKS) initiated with an In-Line at Imperial Capital... Dynegy (DYN) reinstated with an Overweight at Barclays... Gannett (GCI) initiated with an Outperform at Wells Fargo... Gran Tierra (GTE) initiated with an Outperformer at CIBC... HomeAway (AWAY) initiated with an Outperform at RBC Capital... Juno Therapeutics (JUNO) initiated with a Neutral at Goldman... MakeMyTrip (MMYT) initiated with a Buy at BofA/Merrill... PDC Energy (PDCE) initiated with a Hold at Deutsche Bank... PNC Financial (PNC) initiated with a Hold at Evercore ISI... Proofpoint (PFPT) initiated with a Buy at Summit Research... Sensata (ST) initiated with a Buy at Stifel... Southcross Energy Partners (SXE) initiated with a Buy at Wunderlich... Suncor (SU) initiated with an Overweight at JPMorgan... U.S. Bancorp (USB) initiated with a Hold at Evercore ISI... United Financial (UBNK) initiated with a Sector Perform at RBC Capital... Vantiv (VNTV) initiated with an Outperform at Keefe Bruyette... Wells Fargo (WFC) initiated with a Hold at Evercore ISI.
07:44 EDTUSBNationstar, non-bank lenders could get boost from refis, WSJ says
As a decline in interest rates and a reduction in federal loan fees boosts refinancing activity, smaller banks and non-bank lenders, such as Quicken Loans, loanDepot, and Nationstar Mortgage (NSM), may be in a better position than large banks to benefit, said The Wall Street Journal. Publicly traded large U.S. banks include Bank of America (BAC), Citi (C), JPMorgan (JPM), U.S. Bancorp (USB) and Wells Fargo (WFC). Reference Link
January 12, 2015
16:17 EDTUSBU.S. Bancorp initiated with a Hold at Evercore ISI
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06:24 EDTUSBGM plans to use lending arm for subsized leases in the U.S., WSJ reports
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