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Stock Market & Financial Investment News

News Breaks
March 27, 2014
06:19 EDTNTRS, JPM, CMA, BK, RF, WFC, ZIONZions Bancorp may have to issue $630M of equity, says Citigroup
After the Federal Reserve released its 2014 Comprehensive Capital Analysis and Review, Citigroup believes Zions Bancorp (ZION) may have to issue $630M of equity or take some earnings dilutive actions to reduce its risk profile. Citi believes much of this is priced into the stock, but sees 3% further downside for shares of Zions. The firm believes the Fed results were better than expected for BNY Mellon (BK), JPMorgan (JPM) and Wells Fargo (WFC). Citi also thinks Comerica (CMA), Northern Trust (NTRS) and Regions Financial (RF) could have fallen short of investor expectations.
News For ZION;BK;JPM;WFC;CMA;NTRS;RF From The Last 14 Days
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February 24, 2015
09:06 EDTJPMJPMorgan CFO says company seeks to raise dividends if approved
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09:01 EDTJPMJPMorgan expects legal costs to ease, but remain above pre-crisis levels
08:55 EDTJPMJPMorgan expect net charge offs to remain low at $4B+ in 2015
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07:21 EDTJPMSecurities Industry & Financial Markets Association to hold a conference
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07:12 EDTWFCWells Fargo to hold a conference
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06:15 EDTJPMBanks probed for possible rigging of precious metals markets, WSJ reports
Officials in the U.S. are investigating at least 10 major banks for potential rigging of precious-metals markets, sources tell The Wall Street Journal. The DOJ's antitrust unit are investigating the price-setting process for gold, silver, palladium and platinum in London, while the CFTC has begun a civil investigation, with both agencies making requests for information, including a subpoena to HSBC (HSBC) from the CFTC. According to a source, Credit Suisse (CS), JP Morgan (JPM), UBS (UBS), Societe Generale (SCGLY), Bank of Nova Scotia (BNS), Barclays (BCS), Goldman Sachs (GS) and Deutsche Bank (DB) are also under investigation. Reference Link
06:12 EDTJPMJPMorgan plans to charge fees for deposits from large clients, WSJ says
JPMorgan is planning to charge corporate clients, hedge funds, private-equity firms, and foreign banks for deposits due to regulatory rules that impose costs on holding money viewed as "prone to fleeing" during financial stress, reports the Wall Street Journal, citing an internal memo and people familiar with the plan. Clients will be asked to pay a fee or move funds to other products such as money-fund sweep accounts. Retail customers are unaffected. Reference Link
February 23, 2015
11:08 EDTJPMJPMorgan weekly volatility elevated into investor day
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08:57 EDTJPMJPMorgan to host investor day
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February 20, 2015
06:03 EDTJPMAnn Inc. working with JPMorgan on potential sale, Bloomberg reports
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February 19, 2015
17:58 EDTJPMAnn Inc. working with JPMorgan on potential sale, Bloomberg says
06:47 EDTWFC, JPMReport shows subprime consumer loans at pre-2007 levels, WSJ says
Equifax (EFX) has released a report stating nearly 40%, or 50M, of auto loans, credit cards, and personal loans during the first 11 months of 2014 were made to subprime customers, the highest levels since the 2007 financial crisis, reports the Wall Street Journal. LendingTree (TREE) Chief Marketing Officer Gabriel Dalporto attributes the growth to nonbank lenders under less regulatory scrutiny than large banks. 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
February 18, 2015
07:21 EDTJPM, WFCJPMorgan, Citi top government report of riskiest banks, Reuters reports
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07:15 EDTJPMPeterson Institute for International Economics to hold a discussion
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06:57 EDTJPMJPMorgan may shrink interest-rate trading, other units, Bloomberg says
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February 17, 2015
17:29 EDTBKBerkshire Hathaway gives quarterly update on stakes, exits Exxon Mobil
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16:11 EDTBKBNY Mellon adjusts Q4 EPS to 18c after $598M litigation charge
Bank of New York Mellon announced that it is adjusting its financial results for Q4 to include an additional after-tax litigation expense of $598M in anticipation of the resolution of several previously disclosed matters, including substantially all of the foreign exchange-related actions. As a result, BNY Mellon expects that there will be a significant decline in the aggregate range of reasonably possible losses for legal proceedings for the quarter ended Dec. 31, 2014. BNY Mellon is adjusting its Q4 results to net income of $209M, or 18c per share, in recognition of the 40c per common share charge primarily from the subsequent litigation provision offset by the previously disclosed tax benefit, net of litigation and restructuring charges. Q4 revenue was $3.7B, an increase of 2%, or a decline of 3% as adjusted.
10:46 EDTJPMJPMorgan reports January net credit losses 2.53% vs. 2.56% last month
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07:24 EDTNTRSExecutives' Club of Chicago to hold a breakfast meeting
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07:21 EDTRFStephens to hold a field trip
Bank Field Trip travels throughout Mississippi, Arkansas, Alabama, and Louisiana to visit with several banks on February 17-19.
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