All Posts Tagged With: "STT"

(WFC) Wells Fargo in $105 Million Settlement

Wells Fargo & Company (WFC) agreed to shell out a sum of $105 million to settle a lawsuit filed against it by Medical Capital Holdings Inc. The lawsuit alleged that Wells Fargo, acting as a trustee for debt issued by Medical Capital...

16May2013 | | Comments Off | Continued

(GS) The Goldman Sachs Group Wraps Up Global Atlantic

The Goldman Sachs Group, Inc. (GS) has completed the private offering of shares of Global Atlantic Financial Group, formerly known as the Goldman Sachs Reinsurance Group. Goldman retains a minority stake of approximately 25% in the...

4May2013 | | Comments Off | Continued

(COF) Capital One Financial Upgraded to Neutral

On Apr 25, 2013, we upgraded our recommendation on Capital One Financial Corp. (COF) to Neutral from Underperform. Our decision rests on Capital One’s better-than-expected first quarter earnings. However, rising expenses and weak...

1May2013 | | Comments Off | Continued

(CMA) Comerica Marginally Beats on Earnings

Comerica Inc. (CMA) reported first quarter 2013 earnings of 70 cents per share, beating the Zacks Consensus Estimate of 67 cents. Moreover, results surpassed the year-ago quarter earnings per share of 68 cents. Comerica’s...

27Apr2013 | | Comments Off | Continued

(JPM) U.S. Banks Stock Outlook – April 2013 – Zacks Analyst Interviews

U.S. banks entered 2013 with uninterrupted expense control, sound balance sheets, an uptick in mortgage activity and lesser credit loss provisions. Moreover, a favorable equity and asset market backdrop, falling unemployment, a progressive housing sector and a flexible monetary policy have been making...

18Apr2013 | | Comments Off | Continued

(BAC) Bank of America Launches BankAmericard Better Balance Rewards Card

Bank of America Corporation (BAC) launched a new credit card – BankAmericard Better Balance Rewards card. The card offers customers a reward of up to $100 yearly for efficient management of their credit card payments per month. The...

5Mar2013 | | Comments Off | Continued

(STT) State Street Hikes Dividend

State Street Corporation (STT) joined rewarding shareholders through enhanced capital deployment activities. Recently, the company announced an 8.3% hike in its quarterly dividend. The Board of Directors at State Street declared...

26Feb2013 | | Comments Off | Continued

(STI) SunTrust Banks Beats on Revenue Growth

SunTrust Banks Inc.’s (STI) second-quarter 2012 earnings came in at 50 cents per share, surpassing the Zacks Consensus Estimate of 44 cents. This compares favorably with the earnings of 33 cents in the year-ago quarter. Better-than-expected...

23Jul2012 | | Comments Off | Continued

(KO) Company News for July 18, 2012 – Corporate Summary

•    The Coca-Cola Company (NYSE:KO) reported second quarter earnings per share of $1.22, beating the Zacks Consensus Estimate of $1.19 •    Johnson & Johnson (NYSE:JNJ) posted second quarter earnings per share of $1.30, higher...

18Jul2012 | | Comments Off | Continued

(GS) The Goldman Sachs Group Beats Earnings Estimates – Revenue Down

The Goldman Sachs Group Inc. (GS) reported its second-quarter 2012 earnings per share of $1.78, significantly surpassing the Zacks Consensus Estimate of $1.14. Amid the deteriorating global markets and European debt crisis, the results...

17Jul2012 | | Comments Off | Continued

(GS) The Goldman Sachs Group to Sell Hedge Fund Unit

According to Financial Times, The Goldman Sachs Group Inc. (GS) is on the verge of selling its hedge fund administration business to State Street Corporation (STT)....

11Jun2012 | | Comments Off | Continued

(BBT) BB&T Beats Estimates – Higher Revenues

BB&T Corp.’s (BBT) first-quarter 2012 earnings of 61 cents per share beat the Zacks Consensus Estimate by 4 cents. In addition, the reported earnings significantly outpaced the prior-year quarter’s earnings of 32 cents. Better-than-expected...

19Apr2012 | | Comments Off | Continued

(AXP) American Express Announces $5 Billion Share Buyback

Basking after an impressive quarter, American Express Co. (AXP) (AmEx) announced its intention of buying back shares worth $5 billion within two years, besides initiating about an 11% hike in its regular dividend to 20 cents from the...

14Mar2012 | | Comments Off | Continued

(GS) Banking on a Turnaround? – Investment Ideas

Can we really have a rally without the financials? Earnings have been mixed for the financials. Let’s take a deeper look at the players in each segment and see if we can’t come to a consensus as to whether or not a rally can be supported. The Zacks Rank for most of these banks is a #3 Rank...

21Jan2012 | | 0 comments | Continued

(BBT) BB&T Marginally Beats Earnings Estimates

BB&T Corp.’s (BBT) fourth-quarter 2011 earnings of 55 cents per share were marginally ahead of the Zacks Consensus Estimate of 52 cents. This also compares favorably with the prior quarter earnings of 52 cents and the prior-year...

21Jan2012 | | 0 comments | Continued

(GS) Earnings Season Hits Full Throttle

Germany paid the lowest interest rate in its history in a  two-year bond auction this morning, even as the country lowered its economic growth outlook for 2012. The World Bank also came out with a lowered growth outlook for the global economy this year, but there is hardly anything newsy there as...

18Jan2012 | | 0 comments | Continued

(BAC) Bank of America Achieves Financial Solution Advisors Hiring Goal

With the hiring of 280 more employees in Texas (60 hires) and Florida (220 hires), Bank of America Corporation (BAC) reached the goal to more than double the number of Financial Solution Advisors (FSAs) by the end of this year. Now,...

23Nov2011 | | 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...

22Nov2011 | | 0 comments | Continued

(STT) State Street Beats Earnings on Lower Costs

State Street Corporation (STT) reported third quarter 2011 operating earnings of 96 cents per share, which were significantly ahead of the Zacks Consensus Estimate of 88 cents. However, the results were flat sequentially and favorable...

20Oct2011 | | 0 comments | Continued

(AAPL) A Busy Week Ahead – Earnings Preview

Earnings Preview 10/14/11 While the earnings season kicked off this past week, only 38 firms reported. The game really gets under way next week, when we will get reports from 336 firms, including 99 members of the S&P 500. Thus, by the end of the week we will have a very good idea...

17Oct2011 | | 0 comments | Continued

(BAC) Bank of America Adds 13 Bankers to Hit List

Bank of America Corp. (BAC) has sacked 13 investment bankers in its industrials group, which provides advisory and financing services through two units, Bloomberg reported on Tuesday following communication with two people familiar...

7Oct2011 | | 0 comments | Continued

(BR) Broadridge Financial Solutions Wins New Deal

Broadridge Financial Solution (BR) recently secured a contract from Societe Generale, for providing technology and outsourcing services to the latter’s U.S. broker-dealer, SG Americas Securities, LLC. Through this deal, Societe...

6Oct2011 | | 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...

3Oct2011 | | 0 comments | Continued

(BAC) Bank of America to Dismiss 30,000 Workers

In a statement released on Monday, Bank of America Corp. (BAC) confirmed its plan to retrench about 30,000 workers under the first phase of its ongoing cost-cutting initiative –– Project New BAC. This will reduce BofA’s 288,000...

20Sep2011 | | 0 comments | Continued

(JPM) JPMorgan Chase & Co Anticipates No Job Cuts

On Tuesday, Reuters reported quoting Mr. Jes Stanley, JPMorgan Chase & Co.’s (JPM) investment banking Chief Executive, that the company has no plans to retrench employees in the near future. During the first half...

11Sep2011 | | 0 comments | Continued

(BAC) Bank of America to Layoff 40,000 Workers

Bank of America Corp. (BAC) is mulling over retrenching 40,000 workers under the first phase of a proposed restructuring program to recover its financial position, the Wall Street Journal reported following communication with...

11Sep2011 | | 0 comments | Continued

(BAC) Bank of America Announces Significant Lay offs

Bank of America Corp. (BAC) is planning to retrench 3,500 workers this quarter as the company is fraught with its $1 trillion problem-loan portfolio. The ongoing economic and market instability further compounded the quandary. Thousands...

20Aug2011 | | 0 comments | Continued

(BR) Broadridge Financial Solutions Outperforms Again

Broadridge Financial Solutions Inc.’s (BR) fourth-quarter fiscal 2011 adjusted earnings per share of 94 cents beat the Zacks Consensus Estimate of 91 cents and improved from 84 cents earned in the prior-year quarter. Higher recurring...

15Aug2011 | | 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...

14Aug2011 | | 0 comments | Continued

(BK) The Bank of New York Mellon to Charge for Deposits

On Thursday, The Bank of New York Mellon Corporation (BK) announced to charge fee on cash deposits of institutional investors following the surge in deposit balance with the banks. Investors having accounts with average deposit of...

7Aug2011 | | 0 comments | Continued