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Market News

Location American Market News for 20 March 2013

J.P. Morgan Bosses Hit by Bank Regulator

Wall Street Journal - 20 Mar 2013 06:16
J.P. Morgan was downgraded in a confidential government scorecard over concerns about the company's management and its board, a blow to a firm that has long been considered one of the best-run on Wall Street.
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Marsh & Mclennan (MMC) maintained its quarterly dividend of 23 cents per share. The dividend is payable on May 15, 2013 to shareholders of record on April 10, 2013.
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Iberiabank Corporation (IBKC) maintained its quarterly dividend of 34 cents per share. The dividend is payable on April 26, 2013, to shareholders of record as of March 29, 2013.
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Fed Still Coasting: No Plan To Change Policy Until Jobs Outlook Improves Federal Reserve Chairman Ben Bernanke and his fellow members of the Federal Open Market Committee indicated that a pause in the economic recovery has given way to moderate economic growth once again, and offered no signa...
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Creditors Set to Reject Cyprus's Plan B

Wall Street Journal - 20 Mar 2013 19:46
International creditors were set to reject an alternative bailout plan Cyprus cobbled together a day after lawmakers rejected a tax on bank deposits, officials said.
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Barclays's Top Brass Get Share Awards

Wall Street Journal - 20 Mar 2013 19:33
Nine top Barclays executives including Chief Executive Antony Jenkins and investment banking head Rich Ricci received $60.8 million in shares from previous incentive plans, a month after the bank said it would take a str...
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Czechs May Drive Down Koruna

Wall Street Journal - 20 Mar 2013 19:25
As risks mount that the Czech economy could fall into a deflationary spiral, the chief of the country's central bank said he is weighing intervention in foreign-exchange markets as an option to weaken the local currency ...
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Las Vegas Sands Winning Bet Comes From Doubling Down In Macau A little less than 60% of Las Vegas Sands’ value comes from its operations in Macau, which has a gaming market almost five times the size of Las Vegas and is still growing. The U.S. gaming and casino companies are...
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Pimco Weighs Selling Spain, Italy Bonds

Wall Street Journal - 20 Mar 2013 18:11
The firm's head of European portfolio management said he thinks the Cyprus banking crisis is "containable" for now but would sell Spain and Italy bonds if it appears out of control.
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Osborne Warns of Skidding Economy

Wall Street Journal - 20 Mar 2013 17:43
U.K. Treasury chief George Osborne said growth would be much slower than expected and his government would have to borrow almost $90.6 billion more than planned, which is likely to fuel criticism of his austerity drive.
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Dow Sets Intraday Record

Wall Street Journal - 20 Mar 2013 17:23
U.S. stocks rose broadly, pushing the Dow Jones industrials to a record intraday high.
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Provisions Weigh on Deutsche Bank

Wall Street Journal - 20 Mar 2013 17:14
Deutsche Bank cut its preliminary reckoning of 2012 profit by more than 60% because of higher litigation provisions, mainly for its U.S. mortgage business and some unrelated regulatory investigations.
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In trading on Wednesday, music & electronics stores shares were relative leaders, up on the day by about 1.7%. Leading the group were shares of Conns (CONN), up about 2.8% and shares of Radioshack (RSH) up about 2.8% on ...
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Should You Buy This Sector?

Forbes - 20 Mar 2013 16:24
Should You Buy This Sector? Tuesday?s early decline in the stock market was again well supported, as the major averages closed well off the day?s lows. The futures are strong in early trading, with the S&P 500 futures up more than six points.
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Anti-Gun Debate May Be Best Thing For Firearm Industry Since Obama's Election Gun sales in December alone--the month in which the Sandy Hook massacre occurred--nearly doubled to 2.8 million.
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Is A EURO Short Squeeze Imminent?

Forbes - 20 Mar 2013 15:06
Is A EURO Short Squeeze Imminent? The Eurozone?s policymakers have never made it easy for the 17-member single currency. From inception, the EUR has been trading against many odds. Socially and culturally the currency was supposedly destined to fail. A d...
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Freddie Sues Big Banks

Wall Street Journal - 20 Mar 2013 06:18
The government-controlled mortgage investor alleges the lenders caused "substantial losses" by suppressing an interest-rate benchmark.
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SEC Digging Into Fund Fees

Wall Street Journal - 20 Mar 2013 06:01
As part of its new oversight of more than 1,500 investment firms, the agency is looking at expenses, including travel and entertainment, that are billed to investors.
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Shrinking Supply Buoys Oil

Wall Street Journal - 20 Mar 2013 01:43
A glut of crude in the U.S. Midwest is starting to drain, keeping U.S. oil prices aloft even as global prices decline.
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General Mills Offers More to Chew On

Wall Street Journal - 20 Mar 2013 01:42
Ahead of the Tape: General Mills has been a cereal outperformer over the years, but its recent earnings growth hasn't been fantastic.
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Venezuela Acts to Ease Dollar Shortage

Wall Street Journal - 20 Mar 2013 01:42
Venezuela moved to get more dollars into importers' hands to curb growing shortages of basic goods and tame a runaway currency black market by creating a complementary foreign-exchange agency that will auction greenbacks...
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