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News Breaks | | | | March 7, 2013 | | 06:06 EDT |  | XOM, GE, CAT, JPM, GS | On the Fly: Periodicals Wrap-Up
WALL STREET JOURNAL: Dallas Fed President Richard Fisher blamed both major U.S. political parties for a "horrid" political climate in Washington, and said monetary policy alone can't drive the economy, the Wall Street Journal reports...Companies are taking advantage of the stock market rally to raise funds, a sign of U.S. corporations' desire to increase growth by investing and acquiring rivals following the financial crisis. Public firms have raised $35.1B in secondary offerings of stock in the U.S. since the beginning of the year, according to Dealogic, the Wall Street Journal reports...REUTERS: China will likely appoint securities regulator Guo Shuqing to run the $482B state investment vehicle, China Investment Corp., and China's chief trade representative, Gao Hucheng, is seen running the Commerce Ministry, sources say, Reuters reports...Exxon Mobil (XOM) launched an auction to sell up to $2B worth of shares in a Hong Kong power venture after a year-long effort to offload its holding to its partner yielded no result, sources say, Reuters reports...BLOOMBERG: GE (GE) and Caterpillar (CAT), the largest locomotive makers, are rushing to develop natural gas-powered models in a potential shift from diesel’s six decades as the fuel of choice for railroads, Bloomberg reports...The largest U.S. banks are considering whether to disregard a Fed request and announce their dividend plans soon after the central bank’s stress tests are released, sources say. The Fed asked 18 firms, including JPMorgan Chase (JPM) and Goldman Sachs (GS), to wait until next week, even though the lenders will get preliminary word today, Bloomberg reports. | |
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News For XOM;GE;CAT;JPM;GS From The Last 14 Days Check below for free stories on XOM;GE;CAT;JPM;GS the last two weeks. |
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| May 23, 2013 | | 14:45 EDT | | JPM | JPMorgan names Barry Sommers head of consumer bank, Reuters says
 Subscribe for More Information | | | 11:56 EDT |  | JPM | Visa names Ryan McInerney president
Visa (V) announced the appointment of Ryan McInerney as president of Visa. In this role, McInerney will be responsible for Visa's global client organization, product management as well as a new solutions group, which will focus on building and bringing to market new products and services to Visa's issuer, acquirer and merchant clients. Mr. McInerney will report to Charlie Scharf, CEO of Visa . McInerney joins Visa from JP Morgan Chase (JPM) where he was the CEO of Consumer Banking. | | | 08:10 EDT |  | JPM | JPMorgan compelling at current levels, says RW Baird
Subscribe for More Information | | | 07:12 EDT | | JPM | Wall Street trying to use trade deals to weaken Dodd-Frank, Bloomberg reports
Subscribe for More Information | | | 06:32 EDT | | JPM | Dimon looks to improve JPMorgan after winning vote, NY Times says
After JPMorgan's (JPM) shareholders voted to allow Jamie Dimon to keep his dual role as the bank's CEO and chairman, Dimon is looking to repair the bank's relationship with regulators and "fortify risk controls," according to The New York Times. Reference Link | | | 06:29 EDT | | JPM | Software firm Luxoft files for IPO in New York, Bloomberg reports
Subscribe for More Information | | | 06:17 EDT | | XOM | Papua New Guinea’s Oil Search a takeover target, Bloomberg reports
Papua New Guinea’s Oil Search (OISHY) has the fastest revenue growth in the oil industry and now may be attracting a number of suitors, from Exxon Mobil (XOM) to Total (TOT) to Woodside Petroleum (WOPEY), reports Bloomberg. Reference Link | | | 06:08 EDT | | JPM | On the Fly: Periodicals Wrap-Up
Subscribe for More Information | | | 06:07 EDT | | GE | Bank of Ayudhya denies report of Mitsubishi UFJ offer for GE stake, Reuters says
Subscribe for More Information | | | 05:48 EDT | | JPM | Proxy advisers see their power diminish, WSJ reports
Subscribe for More Information | | | | May 22, 2013 | | 16:25 EDT |  | GS | On The Fly: Closing Wrap
Stocks on Wall Street were sharply lower following a day where the Fed dominated the news. The averages were higher early in the session as Fed Chairman Ben Bernanke testified in front of Congress. However, the averages crossed into negative ground as Bernanke's comments on the potential for future QE tapering were digested. The selling accelerated in the late hours of the session following the release of the minutes from the Fed's last FOMC meeting. ECONOMIC EVENTS: In the U.S., Federal Reserve Chairman Ben Bernanke delivered testimony before the Joint Economic Committee of Congress, stating that premature tightening of monetary policy would carry a "substantial risk" of slowing or ending the economic recovery. Bernanke, however, also said the central bank could begin winding down its bond-buying program at one of its "next few meetings" if the economy continues to improve. The FOMC minutes, released at 2:00 pm ET, indicated that some committee members expressed a willingness to adjust assets purchases, though some disagreement existed over what economic data would be needed to begin such a program. The minutes also said some members might want to cut asset purchases by as soon as June. The National Association of Realtors said existing home sales advanced 0.6% to an annual rate of 4.97M units in April, which was the highest level since November 2009 but still below expectations for a rise to a 4.99M-unit rate. COMPANY NEWS: Target (TGT) shares lost $2.86, or 4.01%, to $68.40 after the company's first quarter report, which it called "disappointing." The company also cut its full-year earnings and same-store sales views. MAJOR MOVERS: Among notable gainers was Saks (SKS), up $1.83, or 13.39%, to $15.50 after the New York Post said the company hired Goldman Sachs (GS) to explore strategic alternatives and Bloomberg said KKR (KKR) was considering a stake in the luxury retailer. Also higher following its better-then-expected quarterly results was Zale (ZLC), which advanced $1.20, or 22.22%, to $6.60. Among noteworthy losers were a number of Solar stocks, including Trina Solar (TSL), down $1.07, or 14.9%, to $6.11, and SunPower (SPWR), down $1.81, or 8.62%, to $19.19 after China's Xinhua news agency said early talks between Europe and China to resolve their fight over solar panel trade rules had failed. Also lower was SolarWinds (SWI), down $6.57, or 13.71%, to $41.34 after the company said it will acquire N-able for $120M and its shares were downgraded at research firm Pacific Crest. INDICES: The Dow was down 80.41, or 0.52%, to 15,307.17; the Nasdaq was down 38.82, or 1.11%, to 3,463.30; and the S&P 500 was down 13.81, or 0.83%, to 1,655.35. | | | 14:54 EDT | | JPM | JPMorgan not likely to add new board members soon, Bloomberg says
Subscribe for More Information | | | 14:48 EDT | | GE | General Electric considering IPO for some parts finance unit, Bloomberg says
General Electric CEO Jeffrey Immelt said the company is considering an IPO for some parts of its finance unit, reports Bloomberg, citing comments from Immelt. Reference Link | | | 14:29 EDT |  | GS | Goldman Sachs volatility near low end of historic range
Goldman Sachs June call option implied volatility is at 21, July and October is at 22; compared to its 26-week average of 25 according to Track Data, suggesting decreasing price movement. | | | 13:07 EDT | | GS | KKR weighs Saks investment, may push Neiman Marcus merger, Bloomberg says
KKR (KKR) is considering an investment in Saks (SKS) and may push Saks to pursue a merger with Neiman Marcus, reports Bloomberg, citing people with knowledge of the matter. Saks shares are up $2.25, or 16.46%, to $15.92 after reports last night said the company retained Goldman Sachs (GS) to explore strategic alternatives, including a possible sale. Reference Link | | | 11:31 EDT | | GE | General Electric reaffirms 2013 operating framework
Subscribe for More Information | | | 10:31 EDT |  | JPM | JPMorgan spikes higher along with peers, levels to watch
Subscribe for More Information | | | 09:42 EDT |  | CAT | Senate Committee on Foreign Relations to hold a hearing
The Committee holds a hearing entitled, "Different Perspectives on International Development" with Director of International Governmental Affairs Lane of Caterpillar (CAT) on May 22 at 10:30 am. Webcast Link | | | 09:02 EDT | | GS, JPM | Financials upgraded to Overweight from Market Weight at Wells Fargo
Wells Fargo believes that financials' earnings continue to be the strongest of any sector in the S&P 500. The firm thinks that the sector's stocks appear to be breaking out from a technical standpoint. Citigroup (c) and Ameriprise Financial (AMP) are on the firm's priority list. | | | 07:24 EDT | | GE | Electrical Products Group to host a conference
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