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Stock Market & Financial Investment News

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November 29, 2013
06:11 EDTBID, PTR, FIG, JCP, WFC, GS, XOM, DISH, DNKN, MS, AMZN, SEAS, WENOn the Fly: Periodicals Wrap-Up
WALL STREET JOURNAL: An attempt by the Fed, SEC and other regulators to prevent the kind of lax underwriting that exacerbated the financial crisis is running into resistance from corporations, investors and asset managers (WFC, WEN, DNKN, JCP, SEAS) who said new rules will cripple a $300B market for loans to U.S. companies, the Wall Street Journal reports...Dish Network’s (DISH) $2.2B bid for LightSquared can go forward with the involvement of Dish Chairman Charlie Ergen, a Nevada judge ruled. Separately, Fortress Investment Group (FIG) and Centerbridge Partners have shown interest in LightSquared, the Wall Street Journal reports...REUTERS: Amazon.com (AMZN) has no intention of bowing to pressure from striking workers in Germany, its second biggest market behind the U.S., and is more concerned about bad weather hurting Christmas deliveries, Reuters reports...Exxon Mobil (XOM) turned over a 25% stake in Iraq's West Qurna-1 oilfield project to China energy company PetroChina (PTR), said Iraq's deputy prime minister for energy, Reuters reports...BLOOMBERG: Morgan Stanley (MS) is set to take the top spot in Japanese M&A’s for the first time in 16 years, a sign the firm’s three-year-old tie-up with Mitsubishi UFJ Financial Group (MTU) is paying off. Goldman Sachs (GS) is second, Bloomberg reports...Sotheby’s (BID) is bringing works by Picasso, Rembrandt and Zao Wou-Ki to Beijing where it will hold its first mainland commercial auction on December 1. The auction house said it’s offering $212M worth of western and Chinese art, jewelry and furniture, Bloomberg reports.
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April 10, 2014
13:07 EDTWFCWells Fargo April weekly 50 straddle priced for 2% move into Q1
12:36 EDTWFCEarnings Preview: Wells Fargo to report results after dividend hike
Wells Fargo (WFC), a bank holding company, is scheduled to report first quarter earnings before the open on Friday, April 11, with a conference call scheduled for 10:00 am ET. EXPECTATIONS: Analysts are looking for earnings per share of 97c on revenue of $20.6B, according to First Call. The consensus range for EPS is 90c-$1.02 on revenue of $19.5B-$22.41B. LAST QUARTER: Wells Fargo reported higher than expected Q4 EPS and revenue. The company said that it believes it can continue to grow its net interest margin over time. In a statement, CEO John Stumpf said, "Strong earnings power and capital levels, and an improving economic outlook are major reasons why we look ahead to 2014 with optimism." On March 26, Wells Fargo reported that the Federal Reserve had approved the bank’s capital allocation plan. Under the plan, Wells plans to pay a dividend of 35c per share. The dividend, which was increased 16.7% over prior levels, must be approved by the bank’s board of directors at its April 29 meeting. The bank also authorized the repurchase of an additional 350M shares of its own stock. STREET RESEARCH. In a note to investors on April 8, UBS wrote that Q1 may be the first quarter in four years that Wells Fargo’s EPS will not grow versus the previous quarter, as it believes the bank was hit with seasonal costs in Q1 that were not offset by revenue increases. The bank’s EPS will drop to 97c in Q1, down from $1.00 in Q4, but will still be up 5% versus the first quarter of 2013, the firm predicted. On a positive note, UBS contended that Wells Fargo was "a relative winner" of the Fed’s capital plan approval process. Although Wells' board has approved a 350M share increase in the bank’s stock repurchases, it typically doesn’t carry out large share repurchases, UBS stated. Wells should benefit from a continued U.S. economic recovery, but its shares already reflect such an outlook, according to UBS, which kept a Neutral rating on the stock. Meanwhile, Oppenheimer was somewhat upbeat about the sector's outlook. In a note to investors on April 3, the firm predicted that bank stocks would outperform the broader market by a few hundred basis points per year. Loan growth "remains sluggish," but reduced credit costs and expenses should enable banks to report results that show slight year-over-year improvements, the firm contended. PRICE ACTION: Wells’ stock is little changed over the last month, but is up 6% so far this year and nearly 29% over the last 12 months.
12:18 EDTAMZNAmazon CEO confirms plans to expand Amazon Fresh offering, Re/code reports
Amazon CEO Jeff Bezos has confirmed that the company is planning to expand Amazon Fresh beyond its current three markets, Re/code reports, citing the CEO's 2013 letter to shareholders. He commented that "We’ll continue our methodical approach – measuring and refining Amazon Fresh – with the goal of bringing this incredible service to more cities over time." Bezos also commented on drones, saying "The Prime Air team is already flight testing our 5th and 6th generation aerial vehicles and we are in the design phase on generations 7 and 8." Reference Link
10:29 EDTWENWendy's initiated with a Buy at Tigress Financial
09:37 EDTAMZNActive equity options trading on open
Active equity options trading on open according to Track Data: SIRI RAD AAPL AMZN AA FB TSLA MRK CVX C
08:15 EDTGSGoldman COO says company committed to Brazil operations, Reuters says
Goldman Sachs COO Gary Cohn asserted that the company is committed to retaining its investment-banking operations in Brazil as part of its world-wide footprint, according to Reuters, citing comments from Cohn. Reference Link
07:55 EDTGSGoldman joined by RBC in suing clients after Singapore crash, Bloomberg says
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07:30 EDTWFCWells Fargo April volatility elevated at 20 into Q1 and outlook
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06:41 EDTMSGo Daddy hires Morgan Stanley, JPMorgan for IPO, NY Times says
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06:35 EDTMS, GS, WFCMobile banking presents opportunity and risks for banks, WSJ reports
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April 9, 2014
12:43 EDTBIDThird Point launches ValueSothebys.com
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10:06 EDTXOMOn The Fly: Analyst Initiation Summary
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07:49 EDTAMZNAmazon unclear about limits of Fire TV voice search, BI says
Amazon (AMZN) claimed to have addressed user annoyances when it detailed the voice search features of its new Fire TV system last week, but the company was unclear about the fact that voice searches only present results from Amazon's Instant Video library and Vevo and exclude other services like Netflix (NFLX), said Business Insider. The company also was not upfront about the way voice searches are saved as recordings of users' voices, the report added. Reference Link
07:28 EDTAMZNAmazon looking to court game developers for Fire TV, NY Post reports
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06:51 EDTGSGoldman, Warburg move forward in China Huarong sale, Reuters says
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06:37 EDTBIDSotheby's says Loeb slate 'adds no incremental relevant expertise'
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06:35 EDTWFC, GS, MSRegulators increase leverage ratio requirement for large banks, NY Times says
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06:27 EDTWFC, GS, MSBig banks must add capital to comply with new rules, WSJ reports
A of January 1, 2018, the U.S.'s eight largest banks -- including Citigroup (C), JPMorgan (JPM) and Goldman Sachs (GS) -- must add up to $68B in extra capital to comply with a new rule intended to help firms weather losses during periods of market stress, the Wall Street Journal. The banks will be required to maintain well above the minimum levels of capital held against assets on their books. Banks must report the new levels next year. Reference Link
06:07 EDTAMZNRovi sell-off on patent ruling unwarranted, says Brean Capital
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06:01 EDTAMZNRovi sell-off on patent ruling a buying opportunity, says Piper Jaffray
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