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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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September 30, 2014
12:08 EDTJCPStocks with call strike movement; JCP EWZ
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11:44 EDTJCPOptions with increasing implied volatility
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10:22 EDTAXPeBay advances after announcing PayPal spin off
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07:12 EDTAXPAmerican Express names Neal Sample as president, Enterprise Growth
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07:03 EDTAXPeBay says Dan Schulman to lead PayPal
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07:02 EDTAXPeBay says Devin Wenig to become CEO of new eBay company
Devin Wenig, currently president of eBay Marketplaces, will become CEO of the new eBay (EBAY) company. As CEO of eBay, Wenig will lead the eBay Marketplaces and eBay Enterprise businesses. Revenue over the last twelve months1 for these two businesses grew approximately 10% year-over-year to $9.9 billion, with eBay Marketplaces accounting for about $8.7 billion. eBay Marketplaces and eBay Enterprise collectively handled approximately $85 billion of gross merchandise volume and gross merchandise sales, which grew 13 percent year over year. Scott Schenkel, currently the CFO of eBay Marketplaces will become the CFO of the new eBay company. Concurrent with the announcement of the business separation plan, the company also today announced the appointment of Dan Schulman to be President of PayPal, effective immediately, and CEO-designee of the standalone PayPal company following separation. Schulman joins PayPal from American Express (AXP), where he was president of the company’s Enterprise Growth Group. A seasoned leader in multiple industries, Schulman has held senior executive and CEO roles at AT&T, Priceline and Virgin Mobile, prior to joining American Express. Goldman, Sachs & Co. and Allen & Company LLC are serving as financial advisors and Wachtell, Lipton, Rosen and Katz is serving as legal counsel to eBay Inc.
September 29, 2014
11:50 EDTERICEricsson set to buy Ambient Corp.out of bankruptcy, WSJ says
Ericsson is set to acquire Massachusetts-based Ambient Corp. for $7.5M, says the Wall Street Journal. Ambient filed for bankruptcy on July 28 because it was having trouble selling its "smart grid" technology to power companies, added the Wall Street Journal. Reference Link
11:40 EDTJCPOptions with increasing implied volatility
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09:30 EDTBVSmarter Remarketer names Michael Osborne as President
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07:58 EDTWFCWarren calls for hearing on 'disturbing' Fed tapes, Reuters reports
Two members of the the Senate Banking Committee, Democrats Elizabeth Warren and Sherrod Brown, called for an investigation into the issues raised by secretly taped conversations between officials at Goldman Sachs (GS) and supervisors at the New York Federal Reserve, reported Reuters. Other large U.S. banks include Bank of America (BAC), Citigroup (C), JPMorgan (JPM), Morgan Stanley (MS), U.S. Bancorp (USB) and Wells Fargo (WFC). Reference Link
07:25 EDTAXPOracle to hold a conference
Open World 2014 to be held in San Francisco on September 28-October 2.
07:15 EDTWFCNational Association of Business Economics to hold annual meeting
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07:03 EDTERICNeuStar plans to send report to FCC this week, NY Times says
NeuStar (NSR) plans this week to send the Federal Communications Commission a 45-page report done by former secretary of the Department of Homeland Security, Michael Chertoff, New York Times says. The report discusses national security concerns should NeuStar lose its $446M phone call routing contract to Ericsson (ERIC), as recommended to the FCC by a private phone-industry panel, the paper adds. Reference Link
06:36 EDTUPIPUnwired Planet CFO Eric Vetter to resign
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September 25, 2014
15:10 EDTWFCHolder resignation as AG positive for banks, says Rafferty Capital
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08:19 EDTBBYBest Buy management to meet with Deutsche Bank
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08:00 EDTAXPBuy American Express and Bank of America into earnings, says Morgan Stanley
Morgan Stanley says to buy American Express (AXP) and Bank of America (BAC) going into Q3 earnings. The firm expects American Express to report accelerated credit card spending growth and views valuation as compelling and views Bank of America is a play on rising rates and improving expenses.
September 24, 2014
15:04 EDTWFCGoldman, other banks near deal to buy Bloomberg messaging alternative, WSJ says
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10:03 EDTBBYBest Buy confirms exclusive tech accessories from fashion designers
Best Buy confirmed that it will introduce exclusive tech accessories from fashion designers Nanette Lepore, Anna Sui, and Isaac Mizrahi. All will reflect and be inspired by the designers’ current collections and will be available only at Best Buy. All three collections will debut Sunday, Oct. 5 at BestBuy.com and in Best Buy stores.
09:59 EDTERICOn The Fly: Analyst Downgrade Summary
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09:38 EDTINFYInfosys downgraded to Neutral from Outperform at Macquarie
Macquarie downgraded Infosys to Neutral due to valuation.
08:11 EDTBBYBest Buy hope designer accessories will bring more women to stores, Re/code says
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07:56 EDTERICEricsson downgraded to Neutral at UBS
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05:22 EDTERICEricsson downgraded to Neutral from Buy at UBS
September 23, 2014
06:13 EDTWFCWells Fargo Advisers fined $5M by SEC for failing to maintain controls
The Securities and Exchange Commission yesterday charged Wells Fargo Advisors LLC with failing to maintain adequate controls to prevent one of its employees from insider trading based on a customer’s nonpublic information. The SEC also charged Wells Fargo for unreasonably delaying its production of documents during the SEC’s investigation and providing an altered internal document related to a compliance review of the broker’s trading. Wells Fargo, which admits wrongdoing, has agreed to pay a $5M penalty to settle the SEC’s charges, which are the first-ever against a broker-dealer for failing to protect a customer’s material nonpublic information. Reference Link
September 22, 2014
18:20 EDTWFCSEC fines Wells Fargo Advisors $5M for not stopping inside trade, FT reports
The brokerage arm of Wells Fargo (WFC), Wells Fargo Advisors, was fined $5M by the SEC for not stopping an employee from trading on customer information ahead of the 2010 acquisition of Burger King (BKW), sometimes called “the sandwich deal," FT reports. Reference Link
11:38 EDTJCPStocks with call strike movement; JCP TWTR
J.C. Penney (JCP) February 12 call option implied volatility increased 5% to 45, Twitter (TWTR) January 62.5 call option implied volatility increased 4% to 46 according to IVolatility.
09:49 EDTERICEricsson to hold a briefing
CEO Vestberg provides a briefing on sustainability and corporate responsibility initiatives at the NASDAQ offices in New York on September 22 at 10:30 am.
09:06 EDTERICEricsson acquires majority stake in Apcera
Apcera also announced that Ericsson has acquired a majority stake in the company. In addition, Ericsson has made a significant commitment to fund future operations and fuel growth and sales channel expansion. The all-cash deal is expected to close in Q4 and marks the most significant investment to date in deploying the next generation of PaaS technology. Apcera will retain its name and operate as a standalone company. Founder and CEO Derek Collison will continue as CEO. The company plans to immediately accelerate hiring as it prepares for expected growth.
07:14 EDTERICGSM Association to hold a conference
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September 18, 2014
14:31 EDTAXPCapital One said to bump Amex as Costco Canada card issuer, Bloomberg says
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14:14 EDTAXPCapital One said to replace American Express as Costco Canada card issuer
MasterCard said to be processor for new Costco Canada cards. Reported by Bloomberg.
14:08 EDTWFCBanks look to high-interest personal loans to boost revenue, WSJ says
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12:07 EDTJCPStocks with call strike movement; JCP FB
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11:53 EDTAXPCostco to stop accepting Amex cards in Canada on Jan 1, 2015 Globe and Mail says
Costco (COST) said it will not renew its credit card relationship with American Express (AXP) when it expires on December 31 of this year. Therefore, it will not accept Amex cards in Canada beginning January 1, 2015, The Globe and Mail reports. Reference Link
05:34 EDTINFYInfosys expands partnership with Microsoft
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05:15 EDTERICEricsson discontinues development of modems
Ericsson announced it will discontinue future development of modems and shift parts of resources in modems to radio network R&D to better capture growth opportunities in this area. The change in strategy for modems comes as the company completes its previously communicated evaluation of the future of the modems business. In order to capture opportunities in radio networks, especially within small cells, energy efficiency and M2M, Ericsson has an immediate need to increase its R&D resources by approximately 500 people. Parts of the Modems organization have a relevant R&D competence base to support this growth.
September 17, 2014
13:28 EDTWFCWells Fargo eases lending requirements for buying apartments, Financial Times says
Wells Fargo (WFC) is easing lending requirements for apartment purchases, reports the Financial Times. In an interview, the head of Wells Fargo mortgage production Franklin Codel said, “We’re tweaking our condo approvals to make them more consistent with what Fannie Mae (FNMA) and Freddie Mac (FMCC) allow." Reference Link
13:16 EDTWFCHolder says DOJ looking to charge bank executives, Washington Post says
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08:19 EDTWFCNational Press Club holds a luncheon meeting
Wells Fargo & Co. CEO John Stumpf discusses the role of financial services in the real economy at a National Press Club luncheon meeting being held in Washington, D.C. on September 17 at 1 pm. Webcast Link
September 16, 2014
07:19 EDTWFCCompanies' share buybacks at fasttest clip since 2007, WSJ reports
Companies are buying back their own shares at its fastest pace since the financial crisis to fuel a stock rally, reports the Wall Street Journal. According to Birinyi Associates, companies have bought back $338.3B of stock in 1H14, the most since 2007. Citing an analysis by Barclays, companies with the largest buyback programs by dollar value have outperformed the broader market by 20% since 2008. Reference Link
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