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Stock Market & Financial Investment News

News For V;MA;AXP;ACN;XRX;PAY;DFS;VNTV;IFX;WMT;BAC;WFC;TI From The Last 14 Days
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February 27, 2015
08:01 EDTWFCWells Fargo fires Ocwen as bond overseer, hires Credit Suisse, Bloomberg says
Wells Fargo (WFC) has issued notices to Ocwen (OCN) terminating it as overseer of debt backing for two bond deals, reports Bloomberg, citing letters sent from Wells Fargo to bondholders. Wells Fargo stated in notices sent to bondholders that a majority of investors felt the move was correct. Wells Fargo plans to transfer responsibility to Credit Suisse (CS). Reference Link
07:17 EDTBACUniversity of Chicago Booth School of Business to hold a forum
U.S. Monetary Policy Forum is being held in New York on February 27.
06:32 EDTBACBank of America Chief Accounting Officer, two directors to step down
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05:50 EDTBACBank of America downgraded to Neutral from Buy at UBS
UBS analyst Brennan Hawken downgraded Bank of America to Neutral from Buy saying disclosures in the bank's recent annual filing raise the risk of a qualitative failure this year. Hawken believes that even with yesterday's 2.7% pullback, shares of Bank of America are not fully pricing in the risk of a qualified failure in the Federal Reserve's Comprehensive Capital Analysis and Review, or CCAR. The analyst writes that even if BofA passes the CCAR, the Fed's annual exercise to assess whether the largest banks have sufficient capital, its regulatory capital ratios are well below peers, which could drive lower capital returns. Hawken cut his price target on the banking giant to $16 from $20. Shares of Bank of America closed yesterday down 45c to $16.04.
05:20 EDTACNAccenture awarded contract by Finnish State Treasury
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February 26, 2015
16:38 EDTVNTVVantiv appopints CFO Mark Heimbouch as Chief Operating and Financial Officer
Vantiv announced that Mark Heimbouch's role has been expanded to include leadership of the company's technology and operational functions. Heimbouch joined Vantiv in 2009 as CFO. His appointment as Chief Operating and Financial Officer is effective immediately.
15:02 EDTWFC, BACFed extends capital surcharge for SiFi banks comment period to April 3
The Federal Reserve extended until April 3 the comment period for its proposed rule to implement capital surcharges for the largest, most systemically important U.S. bank holding companies. The Fed extended the comment period to allow interested persons more time to analyze the issues and prepare their comments. Originally, comments were due by March 2. The proposed rule would establish a methodology to identify whether a firm is a global systemically important banking organization and would also establish the size of a firm's risk-based capital surcharge. The proposal is designed to further strengthen the capital positions of these institutions. Large U.S. banks include Bank of America (BAC), Citi (C), Goldman Sachs (GS), JPMorgan (JPM), Morgan Stanley (MS), U.S. Bancorp (USB) and Wells Fargo (WFC).
14:39 EDTAXPAmerican Express adds new benefits for Premier Rewards Gold Card
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14:01 EDTBACBarclays to double provision for forex rigging fines, Sky News says
Barclays (BCS), which previously excluded itself from a broader settlement between several banking peers and regulators over alleged manipulation of foreign exchange rates as it worked to secure a binding agreement with all relevant authorities, will more than double its existing provision for forex fines next week, which may indicate that a settlement deal could be announced soon, said Sky News. Barclay took a GBP500M charge during the course of last year in advance of expected forex issue costs, the report noted. Other banks that previously agreed to a settlement included Bank of America (BAC), Citibank (C), HSBC (HSBC), JPMorgan Chase (JPM), RBS (RBS) and UBS (UBS). The report indicates that U.S. regulators have stepped up talks with banks including Barclays and the others involved. Reference Link
10:50 EDTBAC, WFCNew York regulator considering cybersecurity, cash laundering controls, WSJ says
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06:46 EDTV, MA, DFS, AXPDeutsche sees American Express as undervalued, upgrades to Buy
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06:23 EDTAXPAmerican Express upgraded to Buy from Hold at Deutsche Bank
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February 25, 2015
08:00 EDTWMTWal-Mart still pressured by prominent shareholder over pay, Reuters says
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07:09 EDTACNAccenture to acquire Brazilian analytics firm Gapso
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06:53 EDTAXPAmEx to raise interest rates by 2.5% for 1M customers, Bloomberg says
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February 24, 2015
15:54 EDTAXPAmerican Express confirms end of partnership with JetBlue
American Express (AXP) confirmed in a regulatory filing that the company was unable to reach terms to renew its cobrand relationship with JetBlue (JBLU) recently. The Fly notes that Bloomberg first reported on February 13 that JetBlue was ending its agreement with American Express.
14:43 EDTBACBofA head of Americas equitites leaving company, Bloomberg reports
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12:45 EDTAXPAmerican Express strength an selling opportunity, says Credit Suisse
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12:12 EDTBACBank of America head of equities for America leaving bank, Bloomberg says
07:25 EDTMARW Baird to hold a conference
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