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Stock Market & Financial Investment News

News For WFC;AXP;BBY;INFY;UPIP;ERIC;JCP;ARQL;BV From The Last 14 Days
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April 10, 2015
06:35 EDTWFCGE releases financial details of GE Capital assets sale
Approximately $16B of after-tax charges are expected to be recorded in the first quarter of 2015 in connection with the plan – of which about $12B are non-cash. The charges include taxes on repatriated earnings, asset impairments due to shortened hold periods, and charges on businesses held for sale, including goodwill allocation. GE expects that the earnings impact of the GE Capital exits will be offset by the buyback over the exit period. GE has amended its income maintenance agreement to guarantee all tradable senior and subordinated debt securities and all commercial paper issued or guaranteed by GECC. The guarantee will replace the current income maintenance covenant. GE will maintain substantial liquidity and capital through the transition and does not expect to issue incremental GE Capital long-term debt for at least five years. Commercial paper will be further reduced to approximately $5 billion by the end of 2015.
06:34 EDTWFCGeneral Electric to sell most of GE Capital assets for approximately $26.5B
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06:34 EDTWFCBlackstone Mortgage to acquire $4.6B loan portfolio from GE Capital
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06:34 EDTWFCBlackstone Mortgage to acquire $4.6B loan portfolio from GE Capital
06:31 EDTWFCGeneral Electric to sell most of GE Capital assets for approximately $26.5B
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April 9, 2015
16:17 EDTWFCOn The Fly: Closing Wrap
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13:38 EDTWFCGE close to selling real estate holdings, WSJ reports
General Electric (GE) is close to selling its real estate holdings to Blackstone (BX) and Wells Fargo (WFC), Wall Street Journal reports, citing people familiar with the matter. The portfolio has $30B in holdings, the Journal adds. Shares of GE moved up 25c to $25.26 following the report. Reference Link
09:18 EDTBBY, JCPBofA/Merrill retail analysts hold an analyst/industry conference call
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05:33 EDTERICEricsson launches closed captioning service in U.S.
Ericsson announced the United States launch of a closed captioning service, a service which displays text on a television, video screen, or other visual display to provide additional or interpretive information. The company will establish a broadcast and media services hub based in Atlanta, Georgia to provide closed captioning and video description services to both domestic and international clients effective from April 2015.
April 8, 2015
09:38 EDTAXPAmerican Express upgraded to Sector Perform from Underperform at Portales
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06:30 EDTAXPCapital One remains top card issuer pick at Citigroup
In its preview of Q1 results, Citigroup says Capital One (COF) remains its top pick among the card issuers given the company's "strong" card loan growth, capital return and "reasonable" valuation. Citi keeps a Buy rating on the stock with a $95 price target. The firm continues to see a "modestly" improving U.S. consumer, and also has Buy ratings on American Express (AXP), Discover (DFS), MasterCard (MA), Synchrony Financial (SYF) and Visa (V). Citi thinks investor sentiment has become more negative for card issuers around provisioning for loan growth with the group posting mixed stock performance thus far in 2015.
April 7, 2015
19:54 EDTAXPCisco, American Express invest in mobile wallet startup, Economic Times says
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11:02 EDTAXPAmerican Express slips after analyst, columnist highlight challenges
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10:05 EDTAXPOn The Fly: Analyst Downgrade Summary
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09:23 EDTAXPOn The Fly: Pre-market Movers
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07:51 EDTAXPAmerican Express downgraded at Oppenheimer
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07:16 EDTAXPRising competition may make AmEx targets hard to achieve, WSJ says
Though American Express recently reaffirmed its long-term targets for growing revenue 8% per year or better and earnings per share by 12%-15% per year while increasing operating expenses by less than 3% per year, there are good reasons to be skeptical about its ability to hit those targets, according to The Wall Street Journal's "Heard on the Street" column. Competition from peer Visa (V) as well as big banks such as Citi (C) and Bank of America (BAC) may put pressure on AmEx’s margins and it is not safe to assume that the company will always fare as well on the Fed's stress tests as it just did, the report stated. Reference Link
06:36 EDTAXPAmerican Express downgraded to Underperform from Perform at Oppenheimer
April 6, 2015
16:24 EDTERICNeuStar sues FCC after ruling gave Ericsson contract, Bloomberg says
12:47 EDTWFCWells Fargo April volatility increases into Q1 and outlook
Wells Fargo April call option implied volatility is at 22, May is at 17, June is at 15; compared to its 26-week average of 17 according to Track Data, suggesting large near term price movement in the expected release of Q1 results on April 14.
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