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Stock Market & Financial Investment News

News Breaks
April 13, 2012
13:07 EDTWFC, UBSWells Fargo hires wealth adviser Halsch from UBS, Reuters reports
Wells Fargo (WFC) has hired veteran UBS Wealth Management Americas (UBS) adviser David Halsch, who will join the firm's Wells Fargo Advisors brokerage unit, Reuters reports. Reference Link
News For WFC;UBS From The Last 14 Days
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February 9, 2016
11:24 EDTWFCWells Fargo: 'We have to be prepared for 0-1' rate increases this year
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11:13 EDTUBSUBS freezes investment bank salaries until at least Q2, Bloomberg reports
UBS has frozen salaries at its investment bank at least until Q2, reports Bloomberg. According to three people with knowledge of the matter, bankers and traders who have been promoted will also not see their salaries rise for the time being. UBS will review compensation in the second quarter in light of market conditions and business results. Reference Link
10:03 EDTWFCWells Fargo volatility increases
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09:57 EDTUBSUBS volatility increases
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09:22 EDTWFCWells Fargo says to benefit from GE Capital loan acquisitions in 2016
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07:43 EDTWFCMorgan Stanley punished more than peers amid banking rout, WSJ reports
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05:52 EDTWFCWells Fargo volatility elevated as shares trend lower
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05:46 EDTUBSUBS volatility elevated as shares trend lower
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February 8, 2016
06:31 EDTWFCNorway's oil fund tells U.S. banks to split CEO-chairman positions, FT says
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February 4, 2016
06:58 EDTWFCFed official supports tougher bank stress tests, Reuters reports
Boston Fed president Eric Rosengren said that he supports tougher stress tests for "too big to fail" banks, including larger capital investments that would make them "even more binding," Reuters reports. Rosengren said that stress test changes have reduced the likelihood that systemically important financial firms would fail, the report says. Publicly traded companies in the space include Bank of America (BAC), Citi (C), Goldman Sachs (GS), JPMorgan (JPM), Morgan Stanley (MS), U.S. Bancorp (USB) and Wells Fargo (WFC). Reference Link
06:52 EDTWFCCredit Suisse says not in asset sale talks with Wells Fargo, Reuters reports
Credit Suisse (CS) CEO Tidjane Thiam says there is "no foundation" to reports suggesting the company is in asset sale talks with Wells Fargo (WFC), Reuters reports. Thiam says the company's investment bank is "important" to its strategy. Reference Link
06:51 EDTWFCBofA doesn't deserve to be in 'stock market doghouse,' WSJ says
Bank of America (BAC) is currently in the "stock market doghouse," but doesn't deserve to be, David Reilly of the Wall Street Journal's Ahead of the Tape says. The overall beating of U.S. bank stocks has come amid the greater market selloff, reflecting the fact that slowing growth has brought doubt on the Fed's ability to raise rates in March, Reilly says. Since a rate increase is a far-off prospect, investors have little reason to own bank stocks, though Bank of America's valuation assumes "too dire an outcome," the report says. Banks with international outreach, such as Citi (C), are still arguably further behind in post-crisis cleanup, but Bank of America is more focused on the domestic U.S. economy and prices a U.S. recession as a given, not a possibility, the report says. Other large U.S. banks include Wells Fargo (WFC), JPMorgan (JPM), Goldman Sachs (GS), Morgan Stanley (MS), U.S. Bancorp (USB), BB&T (BBT), PNC Financial (PNC), and SunTrust (STI). Reference Link
February 3, 2016
10:00 EDTUBSOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: AIG (AIG) downgraded to Market Perform from Outperform at William Blair... Credit Acceptance (CACC) downgraded to Underperform at Raymond James... CIT Group (CIT) downgraded to Neutral from Buy at Citi... Cobalt (CIE) downgraded at Stifel... Cypress Energy (CELP) downgraded to Outperform from Strong Buy at Raymond James... Freeport McMoRan (FCX) downgraded on weak near-term outlook at Argus... Gastar Exploration (GST) downgraded to In-Line from Outperform at Imperial Capital... Intersil (ISIL) downgraded to Sell from Neutral at Citi... LyondellBasell (LYB) downgraded to Outperform from Top Pick at RBC Capital... Marriott (MAR) downgraded to Market Perform from Outperform at Wells Fargo... Microchip (MCHP) downgraded to Sell from Neutral at Goldman... Morgan Stanley (MS) downgraded to Underweight from Neutral at Atlantic Equities... Navios Maritime Partners (NMM) downgraded to Hold from Buy at Deutsche Bank... Peapack-Gladstone (PGC) downgraded to Hold from Buy at Sandler O'Neill... QIWI (QIWI) downgraded to Market Perform from Outperform at William Blair... STORE Capital (STOR) downgraded to Neutral from Buy at Ladenburg... Spark Energy (SPKE) downgraded to Neutral from Outperform at Baird... Stone Energy (SGY) downgraded to In-Line from Outperform at Imperial Capital... SunEdison Semiconductor (SEMI) downgraded to Sell from Neutral at Goldman... Teradyne (TER) downgraded to Neutral from Buy at Goldman... Texas Instruments (TXN) downgraded to Sell from Neutral at Goldman... UBS (UBS) downgraded to Sector Perform from Outperform at RBC Capital... Whiting Petroleum (WLL) downgraded on oil price outlook at Stifel... Xcel Energy (XEL) downgraded to Sell from Neutral at UBS... Xilinx (XLNX) downgraded to Buy from Conviction Buy at Goldman... Yahoo (YHOO) downgraded to Hold from Buy at Axiom.
09:10 EDTWFCWells Fargo to pay $1.2B to settle government claims over lending activities
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06:35 EDTUBSUBS downgraded to Sector Perform from Outperform at RBC Capital
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February 2, 2016
12:19 EDTWFCWells Fargo settles with SEC over municipal securities underwriting violations
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05:17 EDTUBSUBS too propose special dividend of CHF 0.25 per share
The UBS board intends to propose a total dividend of CHF 0.85 to shareholders at the AGM 2016. It consists of an ordinary dividend of CHF 0.60 per share, reflecting profit for the financial year 2015, and a special dividend of CHF 0.25 per share, reflecting a significant net upward revaluation of deferred tax assets in 2015. The total dividend will be paid out of capital contribution reserves and, subject to shareholder approval, will be payable on May 17 to shareholders of record on May 13.
05:15 EDTUBSUBS reports Q4 EPS CHF 0.25 vs. CHF 0.23 last year
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January 31, 2016
20:43 EDTWFCOn The Fly: Top five weekend stock stories
Catch up on the weekend's top five stories with this list compiled by The Fly: 1. Coca-Cola (KO) announced a minority stake in diary and juice company Chi, with plans to take full ownership within three years. 2. Billionaire investor Nelson Peltz is considering taking an activist position in Time Warner (TWX), the New York Post reported. 3. Toyota (TM) could temporarily halt domestic production after an explosion at a key supplier curbed its supply of steel, Reuters said. 4. Investigations into Herbalife (HLF), as well as investigations into Bill Ackman himself, have fizzled and criminal charges look unlikely, the Wall Street Journal revealed. 5. Virtu Financial (VIRT) and Ctrip (CTRP) were discussed positively by Barron's this week, as well as "tech bargains" Autodesk (ADSK), Akamai (AKAM), Western Digital (WDC), SanDisk (SNDK) and Lam Research (LRCX) and attractive banking stocks Citi (C), JPMorgan (JPM), Bank of America (BAC) and Wells Fargo (WFC).
12:33 EDTWFCU.S. banks could return 20% or more, Barron's says
The banking sector looks like "one of the best bargains in the market," Barron's contends in a cover story. Names such as Citi (C), JPMorgan (JPM), Bank of America (BAC), Wells Fargo (WFC), Goldman Sachs (GS), Morgan Stanley (MS), BB&T (BBT), PNC Financial (PNC), SunTrust (STI) and U.S. Bancorp (USB) are showing healthy balance sheets and could offer "at least" 20% upside, the publication argues, adding that the industry's exposure to the energy sector "looks manageable" given information offered in recent earnings reports and conference calls. Reference Link
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