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Stock Market & Financial Investment News

News Breaks
November 29, 2013
07:12 EDTJCP, WFC, DNKN, SEAS, WENProposed loan rules resisted by lenders, companies, WSJ reports
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, reports the Wall Street Journal.Reference Link
News For WFC;WEN;DNKN;JCP;SEAS From The Last 14 Days
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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.
10:29 EDTWENWendy's initiated with a Buy at Tigress Financial
07:30 EDTWFCWells Fargo April volatility elevated at 20 into Q1 and outlook
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06:35 EDTWFCMobile banking presents opportunity and risks for banks, WSJ reports
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April 9, 2014
06:35 EDTWFCRegulators increase leverage ratio requirement for large banks, NY Times says
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06:27 EDTWFCBig 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
April 8, 2014
15:05 EDTSEASSeaWorld rises after bill banning orca shows fails to pass
Shares of theme park and entertainment company SeaWorld (SEAS) are higher after a bill that would have banned the use of killer whales in shows was rejected by a committee of the California Assembly. WHAT'S NEW: The California Assembly's Water, Parks and Wildlife Committee rejected a bill that would have banned the use of captive killer whale shows in the state. The flaghips SeaWorld park, located in San Diego, would have been prevented from using killer whales, also known as orcas, in its shows had the bill passed. Instead, the panel decided to order a study into the issue for next year, when it will reconsider the issue. PRICE ACTION: SeaWorld share are up about 4% to $30.56 in late day trading following the committee decision.
13:54 EDTSEASBill to ban orca shows at SeaWorld fails to pass, U-T San Diego says
A bill seeking to ban orca shows at SeaWorld failed to pass California's Water, Parks and Wildlife Committee, which instead agreed to have a study conducted over the next year and then revisit the issue, reported U-T San Diego. Shares of SeaWorld are up over 4.5% following the favorable decision. Reference Link
12:25 EDTSEASCalifornia bill seeks to end SeaWorld killer whale shows, AP reports
A proposed bill in California would force SeaWorld San Diego to stop using killer whales in its shows and release them from their tanks, Associated Press reports. Reference Link
11:42 EDTJCPStocks with call strike movement; P JCP
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April 7, 2014
19:57 EDTWFCFederal Reserve announces extension on some CLOs
The Federal Reserve Board announced that it intends to exercise its authority to give banking entities two additional one-year extensions to conform their ownership interests in and sponsorship of certain collateralized loan obligations, or CLOs, covered by section 619 of the Dodd-Frank Wall Street Reform and Consumer Protection Act, commonly referred to as the Volcker rule. Section 619 of the Dodd-Frank Act directed the board to adopt rules for the conformance period and the board previously extended the conformance period for all activities and investments by one year to July 21, 2015. To ensure effective compliance, the board intends to grant banking entities two additional one-year extensions, which together would extend until July 21, 2017, to conform their ownership interests in and sponsorship of CLOs to the statute. Publicly traded companies that may be impacted by the announcement 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
10:50 EDTSEASHigh option volume stocks: HST SEAS SXC CMCSK MILL
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06:28 EDTJCPStocks with implied volatility below IV index mean; SWY JCP
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April 5, 2014
12:45 EDTDNKNDunkin' Brands could fall hard if expectations are missed, Barron's says
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April 4, 2014
11:31 EDTJCPStocks with call strike movement; JCP TWTR
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07:18 EDTWFCWells Fargo April volatility elevated at 19 into Q1 and outlook
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06:44 EDTWEN, DNKNMost senators resisting compromise on minimum wage increase, Politico reports
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06:07 EDTJCPStocks with implied volatility below IV index mean; JCP PLUG
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06:05 EDTSEASSeaWorld 15M share Secondary priced at $30.00
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