Market News
Deutsche Bank Mistakenly Transferred $6B To American Hedge Fund Client's Account: Report
IBTimes - 20 Oct 2015 08:56
Germany's largest lender Deutsche Bank AG mistakenly sent $6 billion to an American hedge fund client in June, Financial Times reported Monday. The error, which was resolved in a day, brought the investment bank's operat...
Barclays Reaches $325M Settlement With National Credit Union Agency Over US Mortgage Claims
IBTimes - 20 Oct 2015 10:31
British bank Barclays PLC agreed to pay $325 million to resolve two lawsuits related to the sale of residential mortgage-backed securities (RMBS) to now-defunct credit unions in the United States. The bank said it contin...
Hotel Operators Ready to Rumble Over Upgrades
Wall Street Journal - 20 Oct 2015 22:37
Two of the world's biggest hotel operators, Hilton and Marriott, are about to compete for hotel owners who want to spend less money upgrading their properties.
China Delivers More Problems For Steel
Wall Street Journal - 20 Oct 2015 18:38
Tata Steel has announced closures and job losses in the U.K. The long-awaited revival in European steel remains a distant prospect.
Ferrari IPO Prices at High End of Range
Wall Street Journal - 21 Oct 2015 01:51
Ferrari priced the shares in its IPO at the top end of a previously announced range, valuing the luxury car maker at $9.8 billion, according to a person familiar with the matter.
Hedge Fund Assets Drop In Q3, More Than Any Period Since 2008
IBTimes - 21 Oct 2015 01:39
The third quarter of 2015 erased the greatest amount of wealth from hedge fund industry accounts since the financial crisis hit in 2008. Total capital under hedge fund management shrank by $95 billion amid global market ...
Why Prices Can't Rise Fast Enough for Home Builders
Wall Street Journal - 21 Oct 2015 00:43
Home builders are having a tough time passing on rising labor costs. That could pressure margins.
Chipotle's Sales Slowdown Leaves Investors Hungry For More
Forbes - 21 Oct 2015 00:34
Long the star of fast casual, Chipotle's same-store sales rose just 2.6% during the quarter, down sharply from 20% a year ago.
Crédit Agricole Penalized $787 Million Over Iran, Sudan Sanctions Violations
IBTimes - 21 Oct 2015 00:27
Crédit Agricole will pay nearly $800 million to settle charges related to business dealings in Iran, Sudan, Myanmar and other sanctioned countries between 2003 and 2008. Over that period, U.S. financial regulators say t...
J.P. Morgan Near Deal to Sell Majority of Highbridge Private Equity Business
Wall Street Journal - 21 Oct 2015 00:15
J.P. Morgan is close to relinquishing control of a $22 billion private equity business, turning loose part of a firm it acquired before the financial crisis and helped quadruple in size.
Chipotle stock falls after earnings disappoint
CNBC - 21 Oct 2015 00:10
So far in October, the Mexican fast casual chain says traffic has been 'choppy.'
Yahoo cuts Q4 guidance after earnings miss
CNBC - 21 Oct 2015 00:05
Yahoo reported earnings of 15 cents per share on $1.23 billion in revenue, with sales below the Street's lowest estimate.
Tech Firms Spy New Frontier In the Bay Area: Oakland
Wall Street Journal - 20 Oct 2015 23:53
The Oakland market has lost its lethargy and is kicking into gear, largely fueled by smaller tech companies escaping San Francisco's high rents.
Tuesday Sector Leaders: Industrial, Utilities
Forbes - 20 Oct 2015 22:40
Looking at the sectors faring best as of midday Tuesday, shares of Industrial companies are outperforming other sectors, higher by 0.6%. Within the sector, Dover Corp (NYSE: DOV) and United Technologies Corp (NYSE: UTX) ...
Tuesday Sector Laggards: Healthcare, Technology And Communications
Forbes - 20 Oct 2015 22:40
In afternoon trading on Tuesday, Healthcare stocks are the worst performing sector, showing a 1.4% loss. Within the sector, Endo International plc (NASD: ENDP) and Allergan PLC (NYSE: AGN) are two large stocks that are l...
Top Buys by Top Brass: Chief Financial Officer Rusnak's $102K Bet on PACW
Forbes - 20 Oct 2015 22:08
A company's own top management tend to have the best inside view into the business, so when company officers make major buys, investors are wise to take notice. Presumably the only reason an insider would take their hard...
Why Coke Investors' Hopes Went Pop
Wall Street Journal - 20 Oct 2015 22:05
Prospects for a buyer have faded, making Coca-Cola's shares less appealing than those of rival PepsiCo.
SEC's Mary Jo White Urges Review of Treasury Trading Venue Rules
Wall Street Journal - 20 Oct 2015 22:03
The chairwoman of the Securities and Exchange Commission said in a speech Tuesday that the SEC could potentially subject government bond markets and their trading venues to new forms of oversight.
NVIDIA Stock Looks Cheap Even After 40% Jump Since July
Forbes - 20 Oct 2015 22:02
Operating in a highly competitive market can put a harsh spotlight on particular companies. Sometimes this spotlight is warranted; sometimes it is not.
Crédit Agricole to Pay $787 Million in U.S. Sanctions Case
Wall Street Journal - 20 Oct 2015 21:55
French bank Crédit Agricole SA has agreed to pay $787 million to U.S. and New York authorities to resolve allegations it violated U.S. sanctions by handling transactions involving Iran, Sudan, Myanmar and Cuba.
Kimberly-Clark's Organic Q3 Revenue Growth Likely Was Offset by Currency Headwinds
Forbes - 20 Oct 2015 21:48
Leading tissue products manufacturer Kimberly-Clark is scheduled to report its fiscal 2015 third quarter earnings on October 21st. Currency headwinds in Q3 likely continued to drive down revenues and wipe out the volume ...
Why Is Coca-Cola Generating Lower Returns Than PepsiCo?
Forbes - 20 Oct 2015 21:46
In the last three years, the average operating margin of Coca-Cola was 22% compared to PepsiCo's 14%. Despite this margin advantage, Coca-Cola's ROE (return on equity) for 2014 stood at 22% (28% for 2012), lower than the...