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Stock Market & Financial Investment News

News Breaks
August 25, 2011
12:48 EDTSBMRY, BNPQY, FBRWF, MTU, MFG, C, BAC, BCS, STD, MS, RBS, JPM, CRZBYJP Morgan, RBS lead SABMiller's $12.5B loan, Reuters reports
Ten banks will lead SABMIller's (SBMRY) $12.5B acquisition loan which backs its $10B hostile bid for Foster's (FBRWF), Reuters reports. According to sources, JP Morgan (JPM), Royal Bank of Scotland (RBS) and Morgan Stanley (MS) will be joined by BBVA, Banco Santander (STD), Barclays (BCS), Bank of America Merrill Lynch (BAC), Citigroup (C), Bak of Tokyo-Mitsubishi UFJ (MTU) and Mizuho (MFG). SABMiller asked 12 banks to provide $1.6B each to back the bid, but BNP Paribas (BNPQY) and Commerzbank (CRZBY) did not join the group. Reference Link
News For SBMRY;JPM;RBS;MS;STD;BCS;BAC;C;MFG;MTU;FBRWF;BNPQY;CRZBY From The Last 14 Days
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October 9, 2014
06:33 EDTC, BACCitigroup 2015 consensus may be 10% too high, says Deutsche Bank
Deutsche Bank believes the IPO of OneMain, the consumer finance unit within Citi Holdings, and higher expenses create 10% risk to the 2015 consensus estimate of $5.40 for Citigroup. Deutsche says shedding OneMain would lower Citigroup's (C) annual earnings by about 20c. The firm says the bank's Q3 results could top expectations, however, on better than expected currency trading. Deutsche continues to prefer Bank of America (BAC) to Citi, saying its confident consensus estimates for the former are reasonable. It has a Hold rating on Citi and Buy rating on Bank of America.
October 8, 2014
18:26 EDTJPM, CCitigroup, Etrade, others attacked by same JPMorgan hackers, Bloomberg reports
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13:34 EDTBCSBarclays to pay $20M to settle accusations over Libor manipulation, Reuters say
Barclays has agreed to pay $20M to resolve a U.S. class action lawsuit over Libor manipulation, reports Reuters, citing court papers filed Wednesday. The $19.98M settlement must be approved by a federal judge. Reference Link
12:02 EDTCCitigroup's OneMain Financial preparing for $50M IPO, NY Times reports
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08:34 EDTBACBank of America October volatility increases into Q3 and outlook
Bank of America October call option implied volatility is at 28, November is at 23, January is at 22; compared to its 26-week average of 24 according to Track Data, suggesting larger near term price movement into the expected release of Q3 results on October 15.
08:06 EDTCAstoria Financial appoints Hugh J. Donlon as Chief Lending Officer
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07:20 EDTRBS, MSCapital Link to hold a forum
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07:13 EDTBAC, JPM, C, MSBank dealers agree to revised derivatives rules, FT reports
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06:59 EDTBCSBarclays urges NY court to throw out fraud suit, Reuters says
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06:56 EDTJPM, MSBarclays lists several Large-Cap banks with the most Q3 upside
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October 7, 2014
11:35 EDTJPMStocks with call strike movement; JPM QCOM
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10:08 EDTSBMRYSodaStream sinks after Q3 profit warning
Shares of SodaStream International (SODA) are sinking this morning after the company warned that revenue for the third quarter of 2014 will come in well below Wall Street estimates. SodaStream develops, manufactures and markets home beverage carbonation systems and related products. WHAT'S NEW: This morning, SodaStream reported preliminary Q3 revenue of $125M, significantly missing analysts' consensus estimate of about $154M. The company said it expects operating income of about $8.5M for the quarter. Chief Executive Officer Daniel Birnbaum cited an underperformance in the U.S. market as the primary driver of the quarterly shortfall, and said the results are an indication that the company must alter its course and improve its execution. Birnbaum said in a statement that the company is "very disappointed" by its recent performance, noting that it has "not succeeded in attracting new consumers to our home carbonation system at the rate we believe should be achieved." Birnbaum said the company has started a strategic shift towards health and wellness, mostly in the U.S., where he believes the message "will resonate more strongly" with customers. In addition, SodaStream is developing a growth plan, and more details are expected when Q3 results are reported later this month. WHAT'S NOTABLE: The carbonated beverage machine company has been the subject of buyout rumors for months. In July, Bloomberg reported that the company was in talks to go private for around $40 per share. In September, Israel's TheMarker said SodaStream was in talks to sell itself to a British investment fund for $840M, or $40 per share. SodaStream has also been rumored as an acquisition target for beverage makers SABMiller (SBMRY) and Diageo (DEO) or private equity group KKR (KKR), The Independent reported last month. In July, SodaStream cut its fiscal year 2014 revenue growth view to 5% from 15% and cut its FY14 net income expectations to a 5% decrease from a 3% increase. At that time, the company said it believed sales trends for sodamakers would remain challenging in the U.S. in the second half of the year. PRICE ACTION: In mid-morning trading, SodaStream shares dropped $5.72, or 21%, to $21.85.
09:36 EDTBACActive equity options trading on open
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09:17 EDTMS, JPMSecurities Industry & Financial Markets Association to hold a conference
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08:28 EDTCCitigroup October volatility increases into Q3 and revenue outlook
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07:35 EDTBCSBarclays to hold a symposium
MedTalks Symposium: Healthcare From the Inside Out is being held in New York on October 7.
07:29 EDTJPMJPMorgan Chase volatility increases into Q3 and guidance
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07:28 EDTMS, BAC, C, JPMWells Fargo ups price target ranges for capital markets banks
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06:51 EDTBCS, MS, C, BAC, JPMJustice Department set to attack more large banks by year end, NY Times says
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06:49 EDTJPM, BAC, C, BNPQYBNP seeks assistance from banks as ban approaches, Reuters says
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