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Stock Market & Financial Investment News

News Breaks
March 17, 2014
06:32 EDTWFC, JPM, MS, GS, AXP, STTU.S. banks' $75B payout on the line in fed tests, Bloomberg says
The largest U.S. banks are about to learn whether they can pay out more than $75B in excess capital to investors as the Federal Reserve finishes stress tests of their ability to overcome new economic catastrophes, reported Bloomberg. Wells Fargo (WFC) and JPMorgan (JPM) would lead a 69% rise in dividends and stock buybacks over the next year after the central bank releases results of its yearly tests. The tests also cover the largest regional banks and security firms including Goldman Sachs (GS), Morgan Stanley (MS), credit card issuers such as American Express (AXP) and custodial banks such as State Street (STT). Reference Link
News For WFC;JPM;MS;GS;AXP;STT From The Last 14 Days
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August 20, 2014
18:29 EDTMS, JPM, GSBofA, JPMorgan weigh plans to raise salaries for junior bankers, Bloomberg says
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11:37 EDTGSGoldman ups U.S. junior employees FY15 wages by 20%, Bloomberg says
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10:32 EDTGSGoldman to up U.S. junior employees FY15 salaries by 20%, Bloomberg says
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06:02 EDTWFCWells Fargo wins approval for $62.5M settlement, Charlotte Observer says
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August 19, 2014
13:42 EDTWFCWells Fargo looks to bulk up asset-management business, WSJ says
Wells Fargo is looking to increase the size of its asset-management business to over $1T over the next decade by making acquisitions of smaller asset managers and more aggressive sales to larger investors, says the Wall Street Journal. Reference Link
10:13 EDTAXPOn The Fly: Analyst Upgrade Summary
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07:48 EDTAXPAmerican Express upgraded to Neutral from Underperform at Macquarie
Macquarie upgraded American Express to Neutral based on valuation. Price target remains $91.
06:34 EDTGSGoldman abandons effort to toss out $1B Gaddafi suit, Telegraph says
Goldman Sachs (GS) abandoned its effort to toss out a London court suit from the Libyan Investment Authority who alleged that the bank lost over $1B worth of funds during the final years of Muammar Gaddafi's reign as dictator, according to the Telegraph, citing comments from the LIA. The LIA sued both Goldman and Societe Generale (SCGLY) over claims that the banks' London divisions took-in exorbitant fees while losing money in derivative trades. Reference Link
August 18, 2014
10:32 EDTGSProcter & Gamble likely to divest Duracell, Braun, Reuters reports
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09:35 EDTWFCActive equity options trading on open
Active equity options trading on open according to Track Data: AAPL AMZN DG TSLA GILD FB ABX WFC C
09:20 EDTGSDeutsche Bank appoints Shannon Americas Chief Information Officer
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06:47 EDTMSU.S. banks consider Ireland fitting spot for EU divisions, FT says
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August 17, 2014
16:34 EDTGSMick Davis in talks to buy Colombia's CNR from Goldman, Sunday Times says
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August 15, 2014
12:07 EDTAXPAmerican Express reports July net write-off rate 1.5% vs. 1.5% last month
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07:35 EDTJPMJPMorgan reports July net credit losses 2.59% vs. 2.83% last month
Reports July delinquency rate 1.32% vs. 1.33% last month.
06:48 EDTMSMorgan Stanley settles overtime pay suit with $4.2M, Reuters says
Morgan Stanley and sales assistants in the firm's wealth management division system who alleged that they were owed overtime compensation finally agreed to settle the matter with $4.2M, according to Reuters, citing comments from a company spokeswoman in an e-mail. The spokeswoman said, “Morgan Stanley maintains robust policies to ensure that non-exempt employees are paid for all time worked. However, with this settlement we will put an end to protracted and expensive litigation that is a distraction from our business.” Reference Link
August 14, 2014
17:27 EDTJPMAppaloosa gives quarterly update on stakes
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06:40 EDTGSCarlyle hires firms for Axalta IPO, Reuters says
Carlyle Group (CG) gave Citigroup (C) and Goldman Sachs (GS) leading positions in the possible IPO of Axalta Coating Systems just eighteen months after it acquired the firm from DuPont (DD) for $4.9B, according to Reuters, citing people familiar with the matter. One of the sources said that the IPO could bring in nearly $1B. Reference Link
06:39 EDTGSGoldman hired by Emerson for sale of power division, Reuters says
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06:35 EDTGSGoldman unit last bidder for Tokyo tower worth $1.6B, Reuters says
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