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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
Check below for free stories on WFC;AXP;BBY;INFY;UPIP;ERIC;JCP;ARQL;BV the last two weeks.
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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
September 15, 2014
12:03 EDTAXPAmerican Express reports August write-off rate 1.5% vs. 1.5% last month
Reports August 30 days past due loans 0.9% vs. 0.9% last month.
11:51 EDTJCPStocks with call strike movement; TWTR JCP
Twitter (TWTR) November 57.50 call option implied volatility increased 4% to 54, J.C. Penney (JCP) October 12 call option implied volatility increased 8% to 52 according to IVolatility.
11:09 EDTBBYRadioShack rises after CFO resigns, analyst suggests Amazon should buy stores
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06:24 EDTBBYRadioShack liquidation could lift Best Buy comps, says Deutsche Bank
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September 14, 2014
12:15 EDTAXPAmerican Express could rise almost 30%, Barron's says
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September 12, 2014
07:44 EDTJCPJ.C. Penney volatility low into company hosted analyst day
J.C. Penney September call option implied volatility is at 40, October is at 42, November is at 45, January and February is at 41; compared to its 26-week average of 53 according to Track Data suggesting decreasing price movement into a company hosted analyst day event on October 8.
07:41 EDTWFCBank lending grew in quarter, with Capital One leading pack, WSJ reports
Total loans outstanding at U.S. banks and thrifts grew by $178.5B in the second quarter, with Capital One Financial (COF) leading the big banks by growing its loans at an annualized rate of 12.5%, according to SNL Financial data, reported The Wall Street Journal. SNL said 14 of the 15 largest U.S. banks increased their lending, with only Bank of America (BAC) issuing fewer loans than the quarter before, largely attributed to a drop in U.S. closed-end residential mortgages, the report noted. Other publicly traded large U.S. banks include Bank of America (BAC), Citigroup (C), Goldman Sachs (GS), Morgan Stanley (MS), U.S. Bancorp (USB) and Wells Fargo (WFC). Reference Link
07:05 EDTERICEricsson agrees to acquire Fabrix Systems for $95M
Ericsson announced it has entered into an agreement to acquire Fabrix Systems, a leading provider of cloud storage, computing and network delivery for video applications that today power some of the most advanced cable and telecom cloud DVR deployments. Fabrix Systems further extends Ericsson's leading TV and media portfolio with a cloud based scale out storage and computing platform focused on providing a simple, tightly integrated solution optimized for media storage, processing and delivery applications such as cloud DVR and video-on-demand expansion. Fabrix Systems was founded in 2006 with offices in the US and Israel and brings a team of highly skilled cloud computing software engineers. The company has 103 employees. The purchase price for 100% of the shares in Fabrix Systems is $95M. The acquisition is expected to close in the Q4, subject to customary closing conditions. Fabrix Systems will be incorporated into Business Unit Support Solutions.
07:01 EDTERICIDT Corp to sell Fabrix Systems to Ericsson
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06:35 EDTAXP, WFCApple getting discounted card fees for Apple Pay, NY Times reports
Banks are charging Apple lower than usual credit card fees for the tech giant's new mobile payment system, according to The New York Times. The banks hope that participating in Apple Pay will enable them to process transactions that aren't currently being paid for with credit cards, the newspaper explained. The banks and credit card networks also hope to use Apple Pay to prevent technologies that don't incorporate banks from becoming popular, The Times reported. Publicly traded credit card networks include American Express (AXP), Capital One (COF), Discover (DFS), MasterCard (MA) and Visa (V). Publicly traded 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
September 11, 2014
07:21 EDTWFCBankruptcy bill focused on big bank failure moves past committee, WSJ says
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07:13 EDTBBYSome retailers wary of Apple Pay platform, Reuters says
Apple (AAPL) Pay's success is dependent on incorporating more large retailers such as Wal-Mart (WMT) and Best Buy (BBY) into the service, but both retailers recently ceased accepting payments using NFC terminals, according to Reuters, citing comments from Best Buy spokesman Jeff Shelman. Shelman said, "At this point we have no plans to accept Apple Pay." Reference Link
September 10, 2014
12:06 EDTERICEricsson, SAP announce solution for enterprise mobility management
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11:59 EDTWFCWells Fargo upgraded to Buy from Hold at Rafferty Capital
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11:43 EDTJCPLand's End soars after better than expected Q2 results
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08:14 EDTAXPVisa best positioned among card networks for Apple Pay, says Pacific Crest
Pacific Crest believes that Visa (V) is the best positioned to benefit from Apple Pay among credit card networks, as the firm notes that Visa cards were prominently displayed in the demonstrations, that accompanied the launch of the service. The firm thinks that Visa's technology leaves it well-positioned to play a critical role in fostering mobile payments with Apple and potentially others like Google (GOOGL). Pacific Crest adds that Apple Pay is also positive for MasterCard (MA) and American Express (AXP). It keeps an Outperform rating on Visa and Sector Perform ratings on MasterCard and American Express.
08:04 EDTWFCWells Fargo CFO says Apple Pay an 'interesting development'
Wells Fargo (WFC) CFO John Shrewsberry says the company is "happy to be a part" of the initial roll-out of Apple Pay (AAPL). Shrewsberry says Wells Fargo is focused on mobile and wants to support its customers in however they want to do business with the bank.
08:02 EDTAXPApple Pay positive for Visa, MasterCard and American Express, says BofA/Merrill
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07:54 EDTWFCWells Fargo CFO says 'working hard' to return more capital to shareholders
Comments from Wells Fargo CFO John Shrewsberry speaking at the Barclays Global Financial Services conference.
07:29 EDTWFCWells Fargo sees Q3 mortgage originations in line with Q2
Wells Fargo said it expects Q3 mortgage originations to be in line with Q2, while gain on sale margin is expected to remain within the range of the last four quarters. The bank expects to operate within its targeted efficiency ratio range of 55%-59% in Q3.Wells Fargo said it continues to be well positioned relative to liquidity LCR standards and while there is potential for continued NIM pressure, the bank's focus remains on growing net interest income over time. Wells noted that it continues to expect future reserve releases absent significant deterioration in the economy, but expect a lower level of future releases as the rate of credit improvement slows and the loan portfolio continues to grow. Information from slides for CFO John Shrewsberry's presentation at the Barclays Global Financial Services conference.
07:16 EDTWFCRepublicans, Democrats both push for harder 'too big to fail' rules, WSJ says
Lawmakers from both the Republican and Democrat sides of the aisle urged U.S. regulators to push forward additional regulations to ensure the biggest banks aren't "too big to fail," said The Wall Street Journal. Publicly traded large 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
06:35 EDTWFCFed may raise capital requirement for some banks to 11.5%, NY Times reports
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September 9, 2014
17:44 EDTWFCWells Fargo confirms Apple Pay available to customers
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14:54 EDTAXP, WFCApple announces Apple Pay
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07:29 EDTWFC, ERICUBM Canon to hold a summit
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07:28 EDTERIC, AXPThe Money Event, Inc to hold a conference
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07:17 EDTERICThe Wireless Association to hold a conference
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07:16 EDTJCPSterne Agee to hold a field trip
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07:11 EDTWFC, ERICUBM Tech to hold a conference
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06:33 EDTWFCFed looks set to pressure large banks to shrink, NY Times says
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06:32 EDTWFCFed to require large US banks to have extra financial padding, WSJ reports
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September 8, 2014
11:15 EDTJCPJ.C. Penney volatility at 27-month low
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10:23 EDTINFYSyntel names Christopher Mason as North America sales head
Syntel (SYNT) announced earlier today the appointment of Christopher Mason as Head - North America Sales, effective September 8. Prior to joining Syntel, Mason served as Global Head of Business Development for the global sourcing division at Infosys (INFY).
10:17 EDTAXPAmerican Express President says won't comment on press speculation on Apple
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07:24 EDTAXP, WFCBarclays to hold a conference
Global Financial Services Conference to be held in New York on September 8-10.
06:21 EDTBBYSmartwatch market to reach $10B by 2018, says Citigroup
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