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Stock Market & Financial Investment News

News Breaks
June 24, 2014
08:30 EDTDLLR, CSH, ZION, EZPW, AEA, FCFS, PNCDOJ pushing on with payment-processing probe despite critics, WSJ says
Attorney General Eric Holder said he will bring more cases against banks and payment-processing companies as part of the "Operation Choke Point" probe that has been opposed by political critics and a group representing short-term lenders, said The Wall Street Journal. A previously disclosed DOJ memo showed the agency has opened civil investigations into 10 banks and payment processors as part of "Operation Choke Point," and some banks, including Zions Bancorp (ZION) and PNC Financial (PNC), have disclosed they are subject to the probe in regulatory filings, the report said. Advance America (AEA) and the Community Financial Services Association of America, a trade group representing short-term lenders, filed a lawsuit against bank regulators, alleging that a federal crackdown on their industry represents an abuse of the government's authority. Other publicly traded payday lenders include Cash America (CSH), First Cash Financial (FCFS), EZCORP (EZPW), and DFC Global (DLLR), though the Journal's story did not mention any of these companies by name. Reference Link
News For ZION;PNC;AEA;CSH;FCFS;EZPW;DLLR From The Last 14 Days
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February 12, 2016
07:13 EDTCSHKeefe Bruyette to hold a conference
Financials Conference is being held in Boca Raton, Florida on February 11-12 with 1:1s available on February 12 with various companies.
February 10, 2016
12:11 EDTEZPWEZCORP management to meet with Jefferies
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February 9, 2016
08:10 EDTZIONZions Bancorp volatility elevated
Zions Bancorp February call option implied volatility is at 52, March is at 45; compared to its 52-week range of 17 to 48, suggesting large near term price movement.
06:41 EDTPNCPNC Financial volatility elevated
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05:11 EDTEZPWEZCORP reports Q1 EPS (13c), consensus (6c)
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February 8, 2016
07:26 EDTPNCThe FDIC and Federal Reserve Bank of San Francisco to hold a conference
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06:05 EDTFCFSFirst Cash Financial completes 211 store acquisition
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06:04 EDTFCFSFirst Cash Financial initates cash dividend program with 12.5c payment
First Cash Financial Services announced details regarding payment of the Company's newly initiated cash dividend program. The Company's Q1 cash dividend of 12.5c per common share will be paid on March 15, 2016 to stockholders of record as of March 1. On an annualized basis, the dividend is currently projected at 50c per common share.
February 5, 2016
12:22 EDTFCFSFirst Cash Financial management to meet with JPMorgan
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06:47 EDTZIONActivist investors eyeing U.S. banks for merger waves, Reuters says
Activist investors are targeting the U.S. banking sector, betting that the headwinds the industry is experiencing will accelerate consolidation among such companies, Reuters reports. Banks historically have stayed out of the line of sight of activist investors, with certain exceptions, though rate and regulatory pressures could result in a wave of M&A for SMID-cap institutions, the report says. Potential activist candidates include Comerica Bank (CMA), which Hudson Executive Capital acquired a $56M stake in earlier this week, and Zions (ZION), Reuters notes. Reference Link
February 4, 2016
06:51 EDTPNCBofA 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 2, 2016
11:30 EDTCSHCash America management to meet with CL King
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January 31, 2016
12:33 EDTPNCU.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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