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Stock Market & Financial Investment News

News Breaks
June 25, 2014
07:06 EDTRBS, WFCWells Fargo adds Matt Carter as head of International Debt Syndicate
Wells Fargo Securities, the capital markets and investment banking business of Wells Fargo & Company (WFC), announced that Matt Carter joins as managing director and head of International Debt Syndicate. In his role, he will manage the execution of cross-border capital markets opportunities and debt capital markets transactions for the Europe, Middle East, Africa and Asia Pacific regions. Carter’s product coverage will include investment grade corporate bonds, preferred stock, private placements and hybrid capital. He is based in London and reports jointly to Robert Fernandez, head of the International Debt Capital Markets Group, and John Hines, head of Global Debt Syndicate. Prior to joining Wells Fargo, Carter spent over 10 years at The Royal Bank of Scotland Group (RBS) in various leadership roles including head of Financial Institutions Capital Markets for the EMEA region and head of Syndicate.
News For WFC;RBS From The Last 14 Days
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December 18, 2014
10:01 EDTWFCFINRA fines Wells Fargo Advisors, Wells Fargo Advisors Financial Network $1.5M
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December 17, 2014
06:54 EDTWFCWells Fargo increasing minimum stock commission size for brokers, Reuters says
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06:05 EDTWFCStocks with implied volatility above IV index mean; CX WFC
Stocks with implied volatility above IV index mean; CEMEX (CX) 70, Wells Fargo (WFC) 24 according to iVolatility.
December 16, 2014
09:59 EDTWFCOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: BB&T (BBT) initiated with a Neutral at Guggenheim... Bank of America (BAC) initiated with a Buy at Guggenheim... Ciena (CIEN) initiated with a Neutral at Wedbush... Cimarex Energy (XEC) initiated with a Perform at Oppenheimer... Citigroup (C) initiated with a Neutral at Guggenheim... Extended Stay America (STAY) initiated with a Market Perform at JMP Securities... Infinera (INFN) initiated with a Neutral at Wedbush... JPMorgan (JPM) initiated with a Neutral at Guggenheim... Morgan Stanley (MS) initiated with a Buy at Guggenheim... Newfield Exploration (NFX) initiated with an Outperform at Oppenheimer... Nike (NKE) initiated with a Market Perform at Cowen... PNC Financial (PNC) initiated with a Neutral at Guggenheim... Peak Resorts (SKIS) initiated with an Outperform at FBR Capital... Peak Resorts initiated with an Outperform at Oppenheimer... Ralph Lauren (RL) initiated with an Outperform at Cowen... U.S. Bancorp (USB) initiated with a Neutral at Guggenheim... Under Armour (UA) initiated with an Outperform at Cowen... Wells Fargo (WFC) initiated with a Neutral at Guggenheim... Whiting Petroleum (WLL) initiated with an Outperform at Oppenheimer... Lowe's (LOW) initiated with a Neutral at Nomura... Home Depot (HD) initiated with a Neutral at Nomura... Estee Lauder (EL) initiated with a Buy at KeyBanc... Huntsman (HUN) initiated with a Buy at Nomura... Dow Chemical (DOW) initiated with a Buy at Nomura.
06:56 EDTRBSRoyal Bank of Scotland, Lloyds fail stress test, NY Times says
The Royal Bank of Scotland (RBS) and Lloyds (LYG) failed a stress test performed by the Bank of England, according to The New York Times. The central bank found that Royal Bank and Lloyds would not have had enough capital to withstand a severe financial shock at the end of last year, the newspaper stated. However, Lloyds has raised enough capital this year to survive the stress test scenario, the newspaper quoted the Bank of England as saying. Reference Link
06:35 EDTRBSBank of England says seven of eight banks pass stress test
The Bank of England said that all but one of the eight banks passed its stress test. The one bank, Co-operative, needs to submit a revised plan to strengthen its balance sheet. Royal Bank of Scotland (RBS), Lloyds (LYG) and Co-operative were found to be the most susceptible to a housing crash and spike in unemployment. RBS and Lloyds passed the stress test, however. Both banks need improved capital positions, but have already put in place plans to do so, the central bank's Prudential Regulation Authority stated. Reference Link
06:07 EDTRBSRBS to sell portfolio of Irish real estate loans to Cerberus for GBP 1.1B
The Royal Bank of Scotland Group announced the agreement to sell a portfolio of Irish real estate loans to an entity controlled by Cerberus. At completion, RBS will receive cash consideration of up to GBP 1.1B at current exchange rates. Completion is expected in 1Q15. The sale proceeds will be used for general corporate purposes. The transaction, which represents RWA equivalent of cGBP 1.22B as at September 30, is part of the continued reduction of assets in its RBS Capital Resolution division and is in line with the bank's plan to strengthen its capital position and reduce higher risk exposures. The carrying value of the loans is cGBP 1B, the gross assets are cGBP 4.8B and generated a loss of GBP 0.8B, principally impairment provisions, in the year to December 31, 2013.
05:54 EDTWFCStocks with implied volatility movement; TC WFC
Stocks with implied volatility movement; Thompson Creek (TC) 114, Wells Fargo (WFC) 23 according to iVolatility.
December 15, 2014
16:13 EDTWFCWells Fargo initiated with a Neutral at Guggenheim
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December 12, 2014
08:09 EDTWFCBofA/Merrill financial analysts hold an analyst/industry conference call
Banks Analyst Najarian, along with Capital Markets Analyst Carrier, Specialty Finance Analyst Bruce discuss the year ahead in Financials, covering the Banks, Capital Markets, Life and P/C Insurance, REIT, Specialty Finance and Canadian Banks/Life Insurance sectors on an Analyst/Industry conference call to be held on December 16 at 10 am.
December 11, 2014
13:40 EDTRBSEuro zone banks accepted $160B in low interest loans, NY Times says
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10:17 EDTWFCFINRA fines Barclays Capital, Citigroup Global Markets, others $43.5M total
FINRA announced that it has fined 10 firms a total of $43.5M for allowing their equity research analysts to solicit investment banking business and for offering favorable research coverage in connection with the 2010 planned initial public offering of Toys"R"Us. FINRA fined the following firms. Barclays Capital (BCS) - $5M; Citigroup Global Markets (C) – $ 5M; Credit Suisse Securities (CS) – $5M; Goldman, Sachs & Co. (CS) – $5M; JP Morgan Securities LLC (JPM) – $5M; Deutsche Bank Securities Inc. (DB) – $4M; Merrill Lynch, Pierce, Fenner & Smith Inc. (BAC) – $4M; Morgan Stanley & Co., LLC (MS) – $4M; Wells Fargo Securities, LLC (WFC) – $4M; Needham & Company LLC – $2.5M. In addition, FINRA found that six of the 10 firms — Barclays, Citigroup, Credit Suisse, Goldman Sachs, JP Morgan and Needham — had inadequate supervisory procedures related to research analyst participation in investment banking pitches. Toys"R"Us and its sponsors offered each of the 10 firms various roles in the IPO but it eventually decided not to proceed with the offering. In settling this matter, the 10 firms neither admitted nor denied the charges, but consented to the entry of FINRA's findings.
December 10, 2014
08:45 EDTRBSRBS to exit bond trading in Japan, WSJ reports
Royal Bank of Scotland Group plans to give up its primary dealership in the Japanese government bond market early next year as part of the bank’s strategy to scale back its fixed-income businesses due to increasing regulatory costs, said The Wall Street Journal, citing a person familiar with the matter. The move will likely result in "sizable" job cuts, the report added. Reference Link
December 9, 2014
14:57 EDTWFCFed to propose rulemaking on risk-based capital surcharges for GSIB banks
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14:42 EDTWFCFed sees setting capital surcharge up to 4.5% for big U.S. banks, Bloomberg says
Bloomberg cites surcharge estimates in Federal Reserve staff memo. Publicly traded companies in the space include Bank of America (BAC), Citigroup (C), Goldman Sachs (GS), JPMorgan (JPM), Morgan Stanley (MS), U.S. Bancorp (USB) and Wells Fargo (WFC).
December 8, 2014
15:26 EDTWFCDeutsche Bank sued by U.S. over alleged scheme to avoid income taxes
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10:00 EDTWFCOn The Fly: Analyst Downgrade Summary
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07:56 EDTRBSRBS asks Credit Suisse, others for Coutts bids by Christmas, Reuters says
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07:52 EDTWFCWells Fargo downgraded to Market Perform from Outperform at Bernstein
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06:35 EDTWFCValue of Wall Street's M&A bankers has risen, NY Times says
The value of Wall Street's bankers who advise large companies seems to be increasing, while traders are becoming less valuable, according to The New York Times. Bankers who work on M&A deals are expecting their bonuses to increase, while traders anticipate that their compensation will drop, the newspaper added. Furthermore, banks seem to be going the extra mile to hire top notch bankers, the newspaper stated. Publicly traded large 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
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