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Stock Market & Financial Investment News

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January 15, 2014
05:31 EDTBAC, WFC, MS, GS, C, JPMWells Fargo passes JPMorgan as top profit making bank, WSJ reports
Wells Fargo (WFC) is now the the U.S. bank with the highest profit margin, reports the Wall Street Journal. JPMorgan Chase (JPM) held that position since 2010, but was beset with a number of regulatory and legal issues. Reference Link
News For WFC;JPM;GS;BAC;C;MS From The Last 14 Days
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November 13, 2015
16:00 EDTBACOptions Update; November 13, 2015
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11:07 EDTBACMizuho Financial Group probably sold bulk of Bank of America shares, Reuters say
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10:34 EDTCSpringleaf reaches settlement with DOJ to clear way for OneMain acquisition
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10:07 EDTCSpringleaf trading halted, pending news
10:06 EDTCSpringleaf agrees to divest branches to win U.S. approval of OneMain deal
10:04 EDTCU.S. files suit to block Springleaf, OneMain Financial deal
The United States of America, acting under the direction of the Attorney General of the United States, and the States of Colorado, Idaho, Texas, Washington and West Virginia and the Commonwealths of Pennsylvania and Virginia, filed a civil action in a Washington, D.C. district court to enjoin the proposed acquisition of OneMain Financial by Springleaf Holdings (LEAF) and to obtain other equitable relief. Citigroup (C) previously reached a definitive agreement to sell OneMain Financial Holdings to Springleaf for a purchase price of $4.25B.
09:35 EDTBAC, CActive equity options trading on open
Active equity options trading on open: AAPL CSCO FB BAC BABA MSFT NFLX INTC JCP AMZN C
08:30 EDTBACBank of America 31.255M share Block Trade priced at $17.10
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08:26 EDTMSFederal Reserve Board to hold a conference
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November 12, 2015
16:00 EDTBACOptions Update; November 12, 2015
iPath S&P 500 VIX Short-Term Futures up 1.28 to 20.18. Option volume leaders: GE AAPL MNKD XOM BAC FB SUNE CSCO NFLX SYF BABA MSFT
12:00 EDTBACBank of America names David Leitch as general counsel, effective January 1
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09:36 EDTBACActive equity options trading on open
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09:19 EDTJPMPayPal sinks with Apple eyeing peer-to-peer payments
Shares of PayPal (PYPL) are weak again this morning following a report yesterday afternoon alleging that Apple (AAPL) is set to launch a competitor to one of the payment technology company's offerings. Analysts that were already split about PayPal's prospects are also divided on the potential impact of Apple's entry, with a bull at Citi downplaying the risk and a bear at Piper Jaffray voicing greater concern. APPLE COMPETITION: Apple is in talks with U.S. banks to create a mobile person-to-person payment service, reported The Wall Street Journal yesterday afternoon, citing people familiar with the matter. Apple's service, which would likely be linked to the company's Apple Pay system and could get off the ground next year, would compete with PayPal's Venmo peer-to-peer, or P2P, payment platform, the Journal said. BULLISH TAKE: Citi analyst Ashwin Shirvaikar says his Buy thesis on PayPal is unchanged after the Journal's report regarding Apple's efforts. Apple is a "viable competitor in a crowded field," but its product is unlikely to change the near-term growth trajectory of PayPal's Venmo, Shirvaikar told investors in a research note. He keeps a Buy rating on PayPal with a $44 price target. BEARISH TAKE: Piper Jaffray analyst Gene Munster believes Apple's reported plans for a P2P payment offering sometime in 2016 will have limited to no impact on his model for the iPhone maker, but cautions that more mobile wallets offering P2P will add to the challenges facing PayPal's Venmo. The analyst believes the "real estate for all logos at the point-of-sale will be scarce and cluttered," noting that in addition to new entrants like Apple Pay, Samsung Pay, Google's (GOOG) Android Pay, JPMorgan's (JPM) Chase Pay, MCX/CurrentC and PayPal there are still legacy players such as Visa (V) Checkout, MasterCard (MA) Masterpass, and American Express' (AXP) Express Checkout. Munster thinks Venmo is a strong offering that will keep gaining share, but in addition to competition, he sees low interest rates hindering float income and thinks the value proposition for consumers and merchants remains "uncertain." The analyst keeps an Underweight on PayPal, which is the firm's equivalent of a "sell" rating, with a $30 target for its shares. PRICE ACTION: Shares of PayPal slipped 1.8% to close at $36.33 yesterday following the Journal's report. In pre-market trading, the stock fell another 1% to $36 per share.
07:36 EDTGSGoldman Sachs management to meet with Deutsche Bank
Meeting to be held in Montclair, NJ on November 12 hosted by Deutsche Bank.
06:12 EDTBAC, JPM, MS, C, WFC, GSMorgan Stanley to offer wealth management clients savings accounts, Reuters says
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November 11, 2015
16:00 EDTBACOptions Update; November 11, 2015
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09:38 EDTBACActive equity options trading on open
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06:49 EDTWFCWells Fargo 'pleased' with status of Credit Suisse recruitment deal, WSJ says
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06:44 EDTBACBank of America CEO: U.S. consumer spending robust in October, Bloomberg says
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06:19 EDTGSAppNexus talks to Goldman, other banks about IPO plans, Business Insider reports
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