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Stock Market & Financial Investment News

News Breaks
February 26, 2013
10:32 EDTV, JPMVisa, JPMorgan sign LOI for new and expanded partnership agreement
Visa (V) and JPMorgan Chase & Co. (JPM) announced that the companies have agreed to a letter of intent for a new and expanded 10-year renewable partnership agreement. Under terms of the planned deal, JPMorgan Chase will launch Chase Merchant Services, a payments platform powered by Visa that JPMorgan Chase will use to create more differentiated experiences for its merchants and cardholders. The platform will process transactions initiated with JPMorgan Chase-issued Visa cards at merchants that JPMorgan Chase enrolls in Chase Merchant Services. As part of the agreement, JPMorgan Chase also will shift additional credit and debit card volume to Visa, driving more transactions on the Visa network.
News For V;JPM From The Last 14 Days
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August 31, 2014
17:14 EDTVApple said to be partnering to develop iPhone wallet, Bloomberg says
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August 29, 2014
06:49 EDTJPMJPMorgan cyber attack said to occur over months, Bloomberg says
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August 28, 2014
17:43 EDTVVisa downgrade could be buying opportunity, Barron's says
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16:21 EDTVOn The Fly: Closing Wrap
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12:57 EDTVAmazon.com hires Visa executive, Re/code reports
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12:41 EDTVPayPal competitor Visa Checkout adds a dozen new partners, TechCrunch says
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12:34 EDTVOn The Fly: Midday Wrap
Stocks on Wall Street were lower at midday as concern over the Ukraine crisis overshadowed an upward revision to the government's estimate of U.S. economic growth in the second quarter. The major averages began the session in negative territory and picked up downside momentum in early trading, but soon after began to drift off their lows and recapture some of their losses. Volume remains light, as is expected ahead of the upcoming long weekend. ECONOMIC EVENTS: In the U.S., Q2 GDP growth was unexpectedly boosted to 4.2% from the first estimate of 4.0%. Personal consumption rose 2.5% during the second quarter, versus estimates for a 2.4% increase. Initial jobless claims ticked down slightly to 298K in the fourth week of August. Pending home sales index increased 3.3% in July, which was better than the 0.5% month-over-month increase that was expected. In Europe, Ukraine president Poroshenko reportedly accused Russia of a "de facto" invasion and canceled a trip to call an urgent meeting of his security and defense council. COMPANY NEWS: Shares of Visa (V) declined 1% after Raymond James lowered its rating on the credit card giant's stock to Market Perform from Outperform. The Dow component faces a number of headwinds, including tougher negotiating tactics by larger international banks looking to win better deals, lower cross-border volume, and loss of processing revenue in Russia, wrote Raymond James analyst Wayne Johnson. MAJOR MOVERS: Among the notable gainers was Repros Therapeutics (RPRX), which jumped 20% after the first of two identical pivotal studies comparing Androxal to an FDA approved topical gel and placebo achieved superiority in both co-primary endpoints and Piper Jaffray hiked its price target on the stock to $33 from $26. Also higher was Signet Jewelers (SIG), which rose nearly 7% after reporting Q2 results that analysts at Sterne Agee called "impressive." Among the noteworthy losers were a number of retailers who dropped after reporting results from their most recent fiscal quarters. Shares of home goods retailer William-Sonoma (WSM) dropped 11%, jeans maker Guess (GES) fell 9%, and apparel retailer Abercrombie & Fitch (ANF) slipped more than 4%. INDEXES: Near midday, the Dow was down 33.92, or 0.2%, to 17,088.09, the Nasdaq was down 4.52, or 0.1%, to 4,565.11, and the S&P 500 was down 2.04, or 0.1%, to 1,998.08.
10:20 EDTVVisa slips after Raymond James sees more challenges than catalysts
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09:57 EDTVOn The Fly: Analyst Downgrade Summary
Brown Forman (BFA, BFB, BF.A, BF.B) downgraded to Hold from Buy at Deutsche Bank... GT Advanced (GTAT) downgraded to Underperform from Market Perform at Raymond James... Genuine Parts (GPC) downgraded to Neutral from Buy at SunTrust... InterMune (ITMN) downgraded to Neutral from Buy at UBS... Tesco (TSCDY) downgraded to Hold from Buy at Deutsche Bank... Visa (V) downgraded to Market Perform from Outperform at Raymond James... Williams-Sonoma (WSM) downgraded to Equal Weight from Overweight at Morgan Stanley... Bob Evans (BOBE) downgraded to Underweight from Equal Weight at Stephens... lululemon (LULU) downgraded to Neutral from Buy at DA Davidson... J.C. Penney (JCP) downgraded to Neutral from Buy at BTIG.
08:12 EDTJPMJPMorgan says not seeing 'unusual fraud,' safeguarding information, WSJ reports
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06:02 EDTVVisa downgraded to Market Perform from Outperform at Raymond James
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05:55 EDTJPMHackers targeted JPMorgan Chase, 'at least' four other banks, NY Times reports
According to four sources, JPMorgan Chase and "at least" four others were targeted by hackers in a series of attacks this month, the New York Times reports. Hackers infiltrated the computer networks of some banks and stole checking and savings account information from clients, two separate sources say. Security experts and government officials say it is unclear whether Russian hackers are to blame for the attacks. Reference Link
August 27, 2014
15:37 EDTJPMFBI investigating whether Russia involved with JPMorgan hacking, Bloomberg says
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15:20 EDTJPMHackers stole data from JPMorgan, another U.S. bank this month, Bloomberg says
08:00 EDTJPMSEC seen completing rules on MBS detail disclosures, WSJ says
The Securities and Exchange Commission is expected to complete rules requiring banks and other financial institutions to give investors greater detail about the quality of mortgages and other loans pooled into bonds known as asset-backed securities, reported The Wall Street Journal. Publicly traded big 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
August 26, 2014
08:30 EDTVConcerns about payment disintermediation overdone, says Pacific Crest
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August 25, 2014
07:50 EDTVVisa headwinds likely to subside, says Pacific Crest
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August 21, 2014
08:31 EDTJPMMorgan Stanley, JP Morgan selected by Shake Shack to lead IPO, Reuters says
JP Morgan (JPM) and Morgan Stanley (MS) have been picked by Shake Shack to lead the fast-food restaurant chain's IPO, sources tell Reuters. The offering could come as early as this year. Reference Link
06:43 EDTJPMRegulators up bank warning efforts for poor risk assessment, Reuters says
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August 20, 2014
18:29 EDTJPMBofA, JPMorgan weigh plans to raise salaries for junior bankers, Bloomberg says
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