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News Breaks | | | | March 5, 2013 | | 05:55 EDT |  | WFC, WFC, BMO, BMO, AGNC, AGNC, RY, RY, MTB, MTB, KKR, KKR, UNM, UNM, BK, BK, RF, RF | Citigroup to host a conference
U.S. Financial Services Conference is being held in Boston on March 5-6. | |
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News For WFC;BMO;AGNC;RY;MTB;KKR;UNM;BK;RF From The Last 14 Days Check below for free stories on WFC;BMO;AGNC;RY;MTB;KKR;UNM;BK;RF the last two weeks. |
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| May 23, 2013 | | 08:36 EDT |  | UNM | Unum Group's COO Kevin McCarthy to retire in Q1 2014
 Subscribe for More Information | | | 08:16 EDT | | UNM | Unum Group increases common dividend 11.5% to 14.5c
Subscribe for More Information | | | May 22, 2013 | | 16:25 EDT |  | KKR | On The Fly: Closing Wrap
Stocks on Wall Street were sharply lower following a day where the Fed dominated the news. The averages were higher early in the session as Fed Chairman Ben Bernanke testified in front of Congress. However, the averages crossed into negative ground as Bernanke's comments on the potential for future QE tapering were digested. The selling accelerated in the late hours of the session following the release of the minutes from the Fed's last FOMC meeting. ECONOMIC EVENTS: In the U.S., Federal Reserve Chairman Ben Bernanke delivered testimony before the Joint Economic Committee of Congress, stating that premature tightening of monetary policy would carry a "substantial risk" of slowing or ending the economic recovery. Bernanke, however, also said the central bank could begin winding down its bond-buying program at one of its "next few meetings" if the economy continues to improve. The FOMC minutes, released at 2:00 pm ET, indicated that some committee members expressed a willingness to adjust assets purchases, though some disagreement existed over what economic data would be needed to begin such a program. The minutes also said some members might want to cut asset purchases by as soon as June. The National Association of Realtors said existing home sales advanced 0.6% to an annual rate of 4.97M units in April, which was the highest level since November 2009 but still below expectations for a rise to a 4.99M-unit rate. COMPANY NEWS: Target (TGT) shares lost $2.86, or 4.01%, to $68.40 after the company's first quarter report, which it called "disappointing." The company also cut its full-year earnings and same-store sales views. MAJOR MOVERS: Among notable gainers was Saks (SKS), up $1.83, or 13.39%, to $15.50 after the New York Post said the company hired Goldman Sachs (GS) to explore strategic alternatives and Bloomberg said KKR (KKR) was considering a stake in the luxury retailer. Also higher following its better-then-expected quarterly results was Zale (ZLC), which advanced $1.20, or 22.22%, to $6.60. Among noteworthy losers were a number of Solar stocks, including Trina Solar (TSL), down $1.07, or 14.9%, to $6.11, and SunPower (SPWR), down $1.81, or 8.62%, to $19.19 after China's Xinhua news agency said early talks between Europe and China to resolve their fight over solar panel trade rules had failed. Also lower was SolarWinds (SWI), down $6.57, or 13.71%, to $41.34 after the company said it will acquire N-able for $120M and its shares were downgraded at research firm Pacific Crest. INDICES: The Dow was down 80.41, or 0.52%, to 15,307.17; the Nasdaq was down 38.82, or 1.11%, to 3,463.30; and the S&P 500 was down 13.81, or 0.83%, to 1,655.35. | | | 13:07 EDT |  | KKR | KKR weighs Saks investment, may push Neiman Marcus merger, Bloomberg says
KKR (KKR) is considering an investment in Saks (SKS) and may push Saks to pursue a merger with Neiman Marcus, reports Bloomberg, citing people with knowledge of the matter. Saks shares are up $2.25, or 16.46%, to $15.92 after reports last night said the company retained Goldman Sachs (GS) to explore strategic alternatives, including a possible sale. Reference Link | | | 12:53 EDT | | KKR | KKR considers Saks investment, could push merger with Neiman, Bloomberg says
Subscribe for More Information | | | 09:02 EDT |  | WFC | Financials upgraded to Overweight from Market Weight at Wells Fargo
Wells Fargo believes that financials' earnings continue to be the strongest of any sector in the S&P 500. The firm thinks that the sector's stocks appear to be breaking out from a technical standpoint. Citigroup (c) and Ameriprise Financial (AMP) are on the firm's priority list. | | | 06:01 EDT | | BK | BNY Mellon plans to increase Wealth Management sales force by 50%
Subscribe for More Information | | | May 21, 2013 | | 07:26 EDT | | RF, WFC | Barclays to host a conference
Subscribe for More Information | | | 07:13 EDT | | WFC | U.S. bank mergers less likely this year, Bloomberg reports
Subscribe for More Information | | | May 20, 2013 | | 11:49 EDT | | WFC | Wells, Citi halt most foreclosure sales amid OCC scrutiny, American Banker says
Subscribe for More Information | | | | 08:30 EDT | | KKR | KKR & Co. to host investor day
Subscribe for More Information | | | May 16, 2013 | | 12:32 EDT | | RY | EU bank stress test delayed until 2014 by regulator
The EBA agreed on recommendations to supervisors to conduct asset quality reviews on major EU banks. While banks’ capital positions were significantly strengthened under the EBA’s recapitalisation exercise, the objective of the asset quality exercises will be to review banks’ classifications and valuations of their assets so to help dispel concerns over the deterioration of asset quality due to macroeconomic conditions in Europe. Since appropriately reviewed balance sheets are a key input to an effective stress test, the EBA has also adjusted the timeline of the next EU-wide stress test so to conduct the exercise in 2014 once the asset quality reviews are completed. However, to ensure transparency and comparability over the years, the EBA will provide, in 2H, appropriate disclosure on the actual exposures of the EU banking sector. Reference Link | | | 10:03 EDT |  | UNM | On The Fly: Analyst Downgrade Summary
Subscribe for More Information | | | 08:33 EDT | | MTB, RF, WFC | BofA/Merrill's gobal financial analysts hold an analyst/industry conference call
Global Financial Institutions Analysts discuss their Global Financials Quarterly Best Ideas Report on an Analyst/Industry conference call. Relevant companies AIG, ALL, ASBC, BCH, BKU, BBT, BBD, C, CMA, EVER, FITB, FHN, FRC, FULT, HBAN, ING, KEY, MTB, PNC, RF, STI, SUSQ, SNV, HIG, USB, WFC, XL and ZION may be included on the Analyst/Industry conference call to be held on May 16 at 10 am. | | | 07:41 EDT | | AGNC | Wells Faro to host a conference
Subscribe for More Information | | | 07:11 EDT | | KKR | Some asset managers want investors to buy their shares, Reuters reports
Subscribe for More Information | | | 06:41 EDT | | WFC | Big banks to benefit from U.S. concession on derivatives, NY Times says
Subscribe for More Information | | | 06:34 EDT | | UNM | Unum Group downgraded to Underperform from Neutral at Credit Suisse
Subscribe for More Information | | | 06:08 EDT | | KKR | On the Fly: Periodicals Wrap-Up
Subscribe for More Information | | | 05:54 EDT |  | AGNC | Stocks with implied volatility movement; WCRX AGNC
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