All Posts Tagged With: "CS"
(AN) Stock Market News for January 5, 2012 – Market News
Major indices of the American stock markets closed flat on Wednesday after experiencing a strong rally on the first trading day of the Year. Euro zone worries were not strong enough for markets to move southwards. Retail stocks surged after Christmas sales figures increased 5.3%...
5Jan2012 | vitalstocks | 0 comments | Continued(BAC) Fitch Ratings Downgrades Giant Wall Street Banks
Adding to the ongoing economic concerns, Fitch Ratings lowered its viability ratings on eight major global banks on Thursday. Moreover, long-term issuer-default ratings were also downgraded on six major U.S. and European banks. The banks experiencing fall in their viability ratings...
24Dec2011 | vitalstocks | 0 comments | Continued(PPDI) Pharmaceutical Product Development Shareholders Nod to Merger
Pharmaceutical drug research company Pharmaceutical Product Development, Inc. (PPDI) recently announced that its shareholders have approved the merger with privately held firms The Carlyle Group and Hellman & Friedman. The merger was announced in October 2011. PPD shareholders...
6Dec2011 | vitalstocks | 0 comments | Continued(BAC) Standard & Poor’s Downgrades Giant Wall Street Banks
On Tuesday, Standard & Poor’s (S&P) lowered its credit ratings for many U.S. and European banks. Out of 37 banks reviewed by S&P, ratings for 15 were downgraded, ratings remained unchanged for 20 and the remaining 2 were awarded upgraded ratings. The banks whose...
30Nov2011 | vitalstocks | 0 comments | Continued(C) Citigroup Plans Layoff to Cut Costs
Citigroup Inc. (C) is mulling over retrenching 3,000 workers as part of its cost containment measures, the Wall Street Journal reported following communication with people familiar with the plans. Among total layoffs, Citi plans to slash 900 jobs from its securities and banking...
22Nov2011 | vitalstocks | 0 comments | Continued(EU) Non-U.S. Banks Stock Update – November 2011 – Industry Outlook
The global banking industry is still a sorry sight, and its near term looks even worse with several negatives like asset-quality troubles, weak revenue growth, steeper costs and weak loan demand. But thanks to the worldwide regulatory reform, the sector has at least entered a...
1Nov2011 | vitalstocks | 0 comments | Continued(GS) The Goldman Sachs Group to Reduce Cost by Layoffs
According to The New York Times,The Goldman Sachs Group Inc. (GS) is moving ahead with its cost cutting plan. The bank is expected to cut its expenses by $1.45 billion by the end of 2011. The cost containment measures would include significant layoffs and the amount expected...
3Oct2011 | vitalstocks | 0 comments | Continued(BK) The Bank of New York Mellon Corporation Calls Off Alcentra Sale
On Monday, Bloomberg, quoting reliable sources, reported that The Bank of New York Mellon Corporation (BK) has called-off the proposed divestiture of its Alcentra unit, which manages nearly $17 billion worth of assets including loans and high-yield bonds. Alcentra has been a...
20Sep2011 | vitalstocks | 0 comments | Continued(GS) Volcker Rule Extension Risks Jobs?
The controversial Volcker Rule that restricts proprietary trading of U.S. banks may also be enforced on foreign banks with operations in the country, Bloomberg reported on Friday, following communication with four people familiar with the matter. The legislation is part of the...
20Sep2011 | vitalstocks | 0 comments | Continued(AIG) American International Group Offers Notes Worth $2 Billion
Yesterday, American International Group Inc. (AIG) vended off senior unsecured floating-rate notes worth $2.0 billion in a two-part offering. Accordingly, one part of senior unsecured notes is valued at $1.2 billion. These notes were issued at a price of $99.448 and dated to...
11Sep2011 | vitalstocks | 0 comments | Continued(BAC) Company News for September 7, 2011 – Corporate Summary
• Lufkin Industries (NASDAQ:LUFK) said it had concluded an Asset Purchase Agreement to purchase virtually all the assets of Quinn’s Oilfield Supply Ltd for around $303 million • Shares of exploration company Sunoco Inc. (NYSE:SUN) gained 5.32% after the...
7Sep2011 | vitalstocks | 0 comments | Continued(BAC) Stock Market News for September 7, 2011 – Market News
European debt concerns sent stocks down for the third-straight day after investors returned from a long weekend. The benchmarks suffered their worst three-day start this month since October 2008. This was also the S&P 500’s worst start in September in five decades. However,...
7Sep2011 | vitalstocks | 0 comments | Continued(BK) Bank of New York Mellon to Divest Alcentra Unit
On Friday, Bloomberg reported that The Bank of New York Mellon Corporation (BK) is planning to sell-off its Alcentra unit, which manages $17 billion worth of assets including loans and high-yield bonds. Alcentra has been a subsidiary of BNY Mellon since January 2006. BNY Mellon...
1Sep2011 | vitalstocks | 0 comments | Continued(GS) Goldman Sachs Group Again Entangled in Lawsuit
Yesterday, The Goldman Sachs Group Inc. (GS) was sued by The Allstate Corporation (ALL), the largest publicly traded U.S. home and auto insurer. The complaint lodged claims that Goldman misrepresented documents as an underwriter in the sale of over $123 million in mortgage-backed...
22Aug2011 | vitalstocks | 0 comments | Continued(C) Citigroup Hires in Asia Division
Citigroup Inc. (C) is boosting its Asian Prime Finance division by increasing the headcount 20% to 80, according to a Reuters report. The hiring comes as part of the company’s effort to take advantage of the boom in the hedge fund industry in the region. Citi is expanding its...
15Aug2011 | vitalstocks | 0 comments | Continued(BK) Bank of New York Mellon Plans 3% Layoff
In order to improve profitability amid revenue headwinds due to a weak economy and stricter capital requirements by regulators, Bank of New York Mellon Corp (BK) announced a job cut plan on Wednesday. BNY Mellon is not the first to announce this measure; it has followed in the...
14Aug2011 | vitalstocks | 0 comments | Continued(CMCSA) Company News for August 4, 2011 – Corporate Summary
• Spectra Energy (NYSE:SE) posted Q2 EPS of $0.42, above the Zacks Consensus Estimate of $0.40 per share. Revenues for the quarter rose 11.8% year-over-year to $1.19 billion, lower than the Zacks Consensus Estimate of $1.204 billion • Comcast (NASDAQ:CMCSA) reported...
4Aug2011 | vitalstocks | 0 comments | Continued(AIG) New York Federal Reserve Reports Earnings of $4.68 Billion from AIG Investment Portfolio
The New York Federal Reserve (Fed) has reported that it earned about $4.68 billion from American International Group Inc.’s ( Read More →
31Jul2011 | vitalstocks | 0 comments | Continued(BSX) Company News for July 29, 2011 – Corporate Summary
• Credit Suisse (NYSE:CS) announced that it will cut 2,000 jobs worldwide after the banking giant was hit by a decline in second quarter profits and an appreciating Swiss franc • A report from Sky News said that banking major HSBC (NYSE:HBC) may soon axe 10,000...
29Jul2011 | vitalstocks | 0 comments | Continued(XLF) Stock Market News for July 19, 2011 – Market News
Lingering euro-zone debt worries and the impasse over debt-ceiling negotiations weighed down investor sentiment on Monday, while bank shares felt the burn of the markets’ downtrend. The Dow Jones Industrial Average (DJIA) shed 0.8% to close at 12,385.16. The Standard &...
19Jul2011 | vitalstocks | 0 comments | Continued(AHT) Ashford Hospitality Trust Prices Share Offering
Ashford Hospitality Trust Inc. (AHT), the second largest lodging real estate investment trust (REIT) in the U.S., has recently priced its public offering of 7.0 million common shares at $12.50 each. The equity offer is part of the corporate strategy of the company to raise capital...
11Jul2011 | vitalstocks | 0 comments | Continued(UBS) Non-U.S. Banks Stock Update – July 2011 – Industry Outlook
Backed by worldwide regulatory reform, the global banking industry is currently going through a transformation phase. Though the growth potential of some non-U.S. banks could be subdued due to higher reserve requirements, increased property taxes and strict lending limits as...
6Jul2011 | vitalstocks | 0 comments | Continued(BAC) Wells Fargo and Bank of America Eliminate 60 Workers
According to Bloomberg, Bank of America Corp. (BAC) will retrench 60 employees in its equity sales and trading unit. The decision was taken to boost revenue in the unit by lowering expenses. The division, comprising approximately 2,500 people, plans to fire least-productive employees...
1Jul2011 | vitalstocks | 0 comments | Continued(GS) The Goldman Sachs Group to Lay Off 230 Workers
According to a state filing on Wednesday, The Goldman Sachs Group Inc. (GS) intends to lay off 230 workers in New York State due to economic reasons. The layoffs will be executed during the fourth quarter of 2011 and the first quarter of 2012. The State Department of Labor made...
1Jul2011 | vitalstocks | 0 comments | Continued(ACI) Company News for June 30, 2011 – Corporate Summary
• Share prices of Campbell Soup Co. (NYSE:CPB) gained 2.79% after the company’s decision to axe 770 employees of the company globally was given the green signal by its investors. Campbell Soup also announced it was shutting down a plant in Russia • VeriSign,...
30Jun2011 | vitalstocks | 0 comments | Continued(AHT) Ashford Hospitality Trust Mulls Secondary Offering
Ashford Hospitality Trust Inc. (AHT), the second largest lodging real estate investment trust (REIT) in the U.S., has recently announced its decision to issue 6.0 million common shares to raise cash and repay its debt. The company will also grant the underwriters an option to...
29Jun2011 | vitalstocks | 0 comments | Continued(GS) Goldman Sachs Group Increases Brazil Workforce
Goldman Sachs Group Inc. (GS) plans to augment its workforce in Brazil by approximately 20% in 2011. The company aims to increase its hiring following growth in the Brazilian economy compared to its home market. Goldman’s Brazilian unit has headcount of about 300 so far this...
29Jun2011 | vitalstocks | 0 comments | Continued(UBS) Basel Wants Big Banks to Store More
On Saturday, the oversight body of the Basel Committee on Banking Supervision proposed new rules that would force the world’s biggest banks to hold extra capital on their balance sheets as protection and prevention against global financial crisis, the Associated Press reported....
27Jun2011 | vitalstocks | 0 comments | Continued(JPM) JPMorgan Chase & Company Starts Brokerage Business in Europe
JPMorgan Chase & Co.(JPM) announced the launch of its prime brokerage service in Europe that will cater to the needs of various hedge funds based in Europe, Africa and the Middle East. The launch of the brokerage platform reflects the company’s strategy to provide a wide...
23Jun2011 | vitalstocks | 0 comments | Continued(APOG) Company News for June 23, 2011 – Corporate Summary
• Shares of Robbins & Myers, Inc. (NYSE:RBN) jumped 8.77% on strong fiscal third-quarter profits. The energy equipment supplier said strong customer demand and the recent acquisition of oilfield services has helped the company’s increase its profits • ...
23Jun2011 | vitalstocks | 0 comments | Continued