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Stock Market & Financial Investment News

News Breaks
February 29, 2012
05:55 EDTWFC, WFC, DRI, DRI, GS, GS, RJF, RJF, ABCB, ABCB, BKU, BKU, STI, STIFederal Reserve Bank of Atlanta to host a conference
Annual Banking Outlook Conference is being held in Atlanta on March 1.
News For WFC;DRI;GS;RJF;ABCB;BKU;STI From The Last 14 Days
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September 26, 2014
08:35 EDTDRIISS recommends Darden shareholders vote for Starboard's board nominees
Starboard Value announced that Institutional Shareholder Services has recommended that Darden shareholders vote on Starboard's WHITE proxy card to elect all twelve of Starboard's nominees at the upcoming 2014 Annual Meeting of Shareholders. ISS concluded, "As the dissidents have made a compelling case that a change in control is warranted, have provided a detailed strategic and operating plan to minimize the risk of unintended consequences, and nominated a compelling slate of candidates – and in particular because election of all twelve dissident nominees will also result in the dissidents expanding the board to add back two current incumbents, enabling a more thoughtful approach to board continuity – votes FOR each of the twelve dissident nominees are warranted."
07:06 EDTDRIDarden issues statement after ISS report related to board nominee election
Following a report from Institutional Shareholder Serviecs, or ISIS, that relates to the election of directors to Darden's board, Darden issues a statement that says shareholders recognize the risks of ceding total control of the board to Starboard. It says "We believe that shareholders should be alarmed that ISS has recommended wholesale change with virtually NO regard in its report to the positive improvement underway in Darden's operations, the risks associated with the full Board turnover that Starboard Value L.P. and its affiliates is seeking, and the meaningful enhancements made to Darden's leadership structure, including the search for a new Chief Executive Officer and the Company's new slate of independent director nominees, which would result in eight of 12 directors new this year. Instead, the ISS report places large reliance on mistaken perceptions regarding the Red Lobster transaction that are inconsistent with the facts.... Contrary to ISS's view, we have heard from many shareholders who do not support ceding total control of the Board to Starboard and its nominees. While these shareholders support new perspectives, they also recognize the risks of the full board turnover that Starboard is seeking – risks that ISS appears to have ignored. Darden's slate of director nominees is the only slate that provides the benefit and balance of new perspectives as well as continuity of experience and insights with four new independent nominees unaffiliated with the Company or Starboard, four highly qualified continuing independent nominees, and four seats to be filled by Starboard – resulting in eight of 12 new independent directors this year... Darden Board urges shareholders to vote ONLY on the BLUE proxy card "FOR ALL" of Darden's highly qualified, experienced and independent director nominees"
September 25, 2014
15:10 EDTWFC, GSHolder resignation as AG positive for banks, says Rafferty Capital
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14:32 EDTGSGoldman Sachs close to acquiring Neovia Logistics for $1B, Reuters says
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09:44 EDTDRIStarboard says Glass Lewis recommends all Darden nominees
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08:10 EDTRJFRaymond James August operating data indicates upside, says Buckingham
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September 24, 2014
16:20 EDTRJFRaymond James reports August AUM $484.9B
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15:04 EDTWFC, GSGoldman, other banks near deal to buy Bloomberg messaging alternative, WSJ says
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13:03 EDTDRIStarboard sends letter to Darden holders seeking nominee support
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07:46 EDTGSPeterson Institute for International Economics to hold a conference
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September 23, 2014
08:05 EDTDRIDarden highlights Starboard's 'misleading' statements in letter to shareholders
Darden Restaurants issued an open letter to shareholders in connection with the company's 2014 Annual Meeting of Shareholders. The company says "All eight of Darden's independent director nominees, including our four new independent nominees and our four continuing independent directors, are indeed committed to serving the best interests of all Darden shareholders. We share the common goal of enhancing shareholder value, and we are prepared to work collaboratively with the four Starboard nominees that our slate contemplates to achieve this objective. We are deeply concerned, however, about the future of Darden if Starboard's slate is elected and believe it is important to correct the record with regard to a number of inconsistent, contradictory and misleading statements made by Starboard as part of its efforts to take control of your company...We do not believe it is in shareholders' interests to elect an entirely new Board, which could impede operating initiatives that are largely already underway and delivering results."
07:14 EDTGSGoldman spot FX trading boss in EU to depart, Bloomberg says
Mitesh Parikh, the manager of Goldman Sach's spot foreign-exchange trading in Europe, is departing the company to trade currencies at an investment company, according to Bloomberg, citing two people with knowledge of the situation. Parikh joined Goldman Sachs twelve years ago. Reference Link
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
18:27 EDTBKUBankUnited resumed with an Outperform at Wells Fargo
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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
September 19, 2014
09:17 EDTDRIStarboard's director nominees sends letter to Darden shareholders
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08:13 EDTDRIDarden issues statement to thank, urge customer support for Olive Garden
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September 18, 2014
14:08 EDTWFC, GSBanks look to high-interest personal loans to boost revenue, WSJ says
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10:27 EDTDRIOptions with decreasing implied volatility
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08:12 EDTDRIDarden board says shareholders' choice could impact progress, including dividend
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