All Posts Tagged With: "Bank of America Corporation"

(JPM) Will Better Weather Improve Profits for U.S. Banks?

It’s the weather.

Whenever a weaker-than-expected economic report is released for a cold month, pundits always blame the weather. It’s become a cliché.

So when the Department of Labor released its disappointing January jobs report earlier this month, market observers quickly pointed...

14Mar2014 | | Comments Off on (JPM) Will Better Weather Improve Profits for U.S. Banks? | Continued

(BLL) Ball Corporation Ends Senior Notes Offering

Ball Corporation (BLL) has announced the completion of the previously announced underwritten public offering of 4% senior notes worth $1 billion, due 2023. Ball will use the proceeds from the offering to pay accrued and unpaid interest.

Ball...

16Aug2013 | | Comments Off on (BLL) Ball Corporation Ends Senior Notes Offering | Continued

(JPM) JPMorgan Chase to Face Dexia Lawsuit Again

The U.S. District Judge Jed Rakoff has revoked his earlier order to dismiss a major portion of the lawsuit filed by Brussels based Dexia N.V./S.A against JPMorgan Chase & Co. (JPM). The lawsuit accused JPMorgan of deliberately...

2Jul2013 | | Comments Off on (JPM) JPMorgan Chase to Face Dexia Lawsuit Again | Continued

(HBC) HSBC Holdings to Eliminate 14,000 Jobs

In an effort to improve overall efficiency, HSBC Holdings plc (HBC) announced a second round of cost saving initiatives. The new cost saving program will start from 2014 and run for 3 years.

HSBC plans to slash $3 billion in...

14Jun2013 | | Comments Off on (HBC) HSBC Holdings to Eliminate 14,000 Jobs | Continued

(C) Citigroup to Redeem Preferred Stock

Citigroup Inc. (C) announced the redemption of its preferred securities worth about $94.3 million. The redemption includes 8.5% Series F Non-cumulative Preferred Stock and 6.5% Series T Convertible Non-cumulative Preferred Stock.

The...

14Jun2013 | | Comments Off on (C) Citigroup to Redeem Preferred Stock | Continued

(BAC) Bank of America Corporation’s Ratings Affirmed by Fitch

In conjunction with the periodic review of 12 Global Trading and Universal Banks (GTUBs), Fitch Ratings reiterated its long and short- term Issuer Default Rating (IDRs) on Bank of America Corporation (BAC). The rating agency re-affirmed...

23May2013 | | Comments Off on (BAC) Bank of America Corporation’s Ratings Affirmed by Fitch | Continued

(MTU) Mitsubishi UFJ Financial Group Continues Expansion

San Francisco-based Union Bank, N.A., the primary subsidiary of UnionBanCal Corporation, announced a deal to acquire deposits and certain assets of Vallejo, Calif.-based First Bank Association Bank Services – a unit of First Bank. UnionBanCal Corp. is a fully owned subsidiary of Mitsubishi...

23May2013 | | Comments Off on (MTU) Mitsubishi UFJ Financial Group Continues Expansion | Continued

(HBHC) Hancock Holding Company Authorizes New Share Repurchase Program

In order to enhance shareholder value, Hancock Holding Company (HBHC) has announced a new capital deployment plan. Apart from declaring a regular quarterly cash dividend, the company authorized a new share repurchase program.

Hancock’s...

16May2013 | | Comments Off on (HBHC) Hancock Holding Company Authorizes New Share Repurchase Program | Continued

(SCHW) Schwab Sues Banks in LIBOR Rigging

Bloomberg reported that Charles Schwab Corporation (SCHW) has a filed a lawsuit against global banks including Bank of America Corporation (BAC) over charges of rigging...

16May2013 | | Comments Off on (SCHW) Schwab Sues Banks in LIBOR Rigging | Continued

(RF) Regions Financial to Redeem TruPS

Regions Financial Corporation (RF) announced that it will redeem its issued and outstanding 6.625% Trust Preferred Securities (TruPS) worth $498 million. These TruPS were issued by Regions Financing Trust II. The redemption is scheduled...

16May2013 | | Comments Off on (RF) Regions Financial to Redeem TruPS | Continued

(MTU) Mitsubishi UFJ Financial Group Seeks to Acquire Morgan Stanley Trust Business

In order to expand its operations, Japan-based Mitsubishi UFJ Financial Group, Inc.’s (MTU) U.S.-based subsidiary – UnionBanCal Corporation – is seeking to acquire the rights to sell trust-banking services to Morgan Stanley’s...

16May2013 | | Comments Off on (MTU) Mitsubishi UFJ Financial Group Seeks to Acquire Morgan Stanley Trust Business | Continued

(BAC) Underwhelming Earnings Backdrop

Wednesday, April 17, 2013

Unlike Tuesday when earnings reports were on the reassuring side, the tone of this morning’s releases is on the negative side. And it’s not just this morning’s Bank of America (BAC)...

2May2013 | | Comments Off on (BAC) Underwhelming Earnings Backdrop | Continued

(CUZ) Cousins Properties Incorporated Boosts Liquidity

In order to enhance its financial flexibility, Cousins Properties Incorporated (CUZ) infused approximately $165.1 million of capital through a public offering of its common stock. The company’s plans to finance an...

2May2013 | | Comments Off on (CUZ) Cousins Properties Incorporated Boosts Liquidity | 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 on (CMA) Comerica Marginally Beats on Earnings | Continued

(MS) Morgan Stanley Beats on Earnings and Revenues

Morgan Stanley’s (MS) first-quarter 2013 adjusted earnings from continuing operations of 61 cents per share outpaced the Zacks Consensus Estimate by a nickel. However, this compared unfavorably with prior-year quarter earnings of...

21Apr2013 | | Comments Off on (MS) Morgan Stanley Beats on Earnings and Revenues | Continued

(GS) Is Goldman Sachs Group’s Blankfein’s Huge Pay Hike Justified?

The Goldman Sachs Group, Inc. (GS) CEO Lloyd Blankfein received a massive pay raise of nearly 75% in 2012, as per a latest SEC filing by the bank. However, the hike in compensation, which will bring Blankfein’s salary to $21 million,...

21Apr2013 | | Comments Off on (GS) Is Goldman Sachs Group’s Blankfein’s Huge Pay Hike Justified? | Continued

(C) Citigroup Posts Encouraging Earnings

After reporting disappointing results in the prior quarter, Citigroup Inc. (C) reported an impressive first-quarter 2013. Earnings per share came in at $1.29 for the quarter, beating the Zacks Consensus Estimate by 11 cents. Moreover,...

21Apr2013 | | Comments Off on (C) Citigroup Posts Encouraging Earnings | Continued

(JPM) Foreclosure Activity Declines in First Quarter

Indicating the marginal revival of the housing market, the foreclosure market report – released by RealtyTrac – revealed that the overall foreclosure activity in Mar 2013 continued to show a downward trend. As per this leading online marketplace of foreclosure properties, foreclosure filings plunged...

18Apr2013 | | Comments Off on (JPM) Foreclosure Activity Declines in First Quarter | Continued

(BAC) Bank of America Gets Approval for Settlement

Bank of America Corporation (BAC) received approval from the U.S. District Court of the Southern District of Manhattan to settle a $2.43 billion class-action lawsuit filed by irate shareholders over the acquisition of Merrill Lynch....

18Apr2013 | | Comments Off on (BAC) Bank of America Gets Approval for Settlement | Continued

(AMP) Ameriprise Financial Analyst Remains Neutral on Shares

On Apr 5, 2013, we reaffirmed our long-term Neutral recommendation on Ameriprise Financial Inc. (AMP). Our decision is based on its robust capital deployment actions and strong liquidity position. However, escalating expenses and unsettling...

18Apr2013 | | Comments Off on (AMP) Ameriprise Financial Analyst Remains Neutral on Shares | Continued

(ORCL) Will Q1 Provide the Earnings Growth Bottom? – Earnings Outlook

The first quarter 2013 earnings season has gotten underway, though it will take another three weeks for the reporting cycle to heat up. The initial reports from the likes of Oracle (ORCL) and FedEx (FDX)...

15Apr2013 | | Comments Off on (ORCL) Will Q1 Provide the Earnings Growth Bottom? – Earnings Outlook | Continued

(ORCL) Economic Data Turns Market Bearish – Earnings Preview

The market’s mood appears to have shifted following the recent run of weak economic data, with investors grudgingly acknowledging that the economy may not be in as good a shape as everybody had expected. May be it’s the typical seasonal weakness that we have become accustomed to in recent years,...

7Apr2013 | | Comments Off on (ORCL) Economic Data Turns Market Bearish – Earnings Preview | Continued

(USB) U.S. Bancorp’s Capital Plan Approved

Following the release of the Federal Reserve’s Comprehensive Capital Analysis and Review (CCAR) results, U.S. Bancorp (USB) gets the nod for its capital plan along with other major banks. With the approval, the company plans to augment...

2Apr2013 | | Comments Off on (USB) U.S. Bancorp’s Capital Plan Approved | Continued

(ORCL) Will an Earnings Growth Bottom Arrive in 2013’s First Quarter?

The first quarter 2013 earnings season has gotten underway, though it will take another three weeks for the reporting cycle to heat up. The initial reports from the likes of Oracle (ORCL) and FedEx (FDX)...

28Mar2013 | | Comments Off on (ORCL) Will an Earnings Growth Bottom Arrive in 2013’s First Quarter? | Continued

(XLF) Stock Market News for March 19, 2013 – Market News

Benchmarks declined for the second day in a row following news that Cyprus is on the brink of a financial crisis and needs to be bailed out. These developments rekindled fears of the Euro Zone crisis among investors. Financial stocks were the worst hit among the top ten S&P 500 industry groups...

28Mar2013 | | Comments Off on (XLF) Stock Market News for March 19, 2013 – Market News | Continued

(ORCL) A Breather Before Q1 Earnings Deluge – Earnings Preview

The first quarter earnings season has gotten underway, though it will take a few more weeks for the reporting cycle to get into high gear. The initial reports from the likes of Oracle (ORCL) and FedEx (FDX)...

23Mar2013 | | Comments Off on (ORCL) A Breather Before Q1 Earnings Deluge – Earnings Preview | Continued

(BK) The Bank of New York Mellon Earns Federal Reserve Capital Plan Approval

The Bank of New York Mellon Corporation (BK) announced that its capital deployment plan, submitted under the 2013 Comprehensive Capital Analysis and Review (CCAR) or the stress test, has received approval from the Federal Reserve. Consequently,...

23Mar2013 | | Comments Off on (BK) The Bank of New York Mellon Earns Federal Reserve Capital Plan Approval | Continued

(WFC) Federal Reserve Approves 2013 Bank Stress Tests

After the release of the Dodd-Frank Act supervisory stress test 2013 (DFAST 2013) results last week, the Federal Reserve came up with the approval of capital plans of 14 financial institutions out of 18 in the Comprehensive Capital Analysis and Review (CCAR). Two banks have received approval subject...

18Mar2013 | | Comments Off on (WFC) Federal Reserve Approves 2013 Bank Stress Tests | 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 on (BAC) Bank of America Launches BankAmericard Better Balance Rewards Card | Continued

(JPM) JPMorgan Chase & Company to Cut 19,000 Jobs Overall

JPMorgan Chase & Co. (JPM) became the latest global bank to announce job cuts to improve profitability. The company will be eliminating overall 19,000 jobs (about 7.3% of the total workforce as of Dec 31, 2012) by the end of 2014....

27Feb2013 | | Comments Off on (JPM) JPMorgan Chase & Company to Cut 19,000 Jobs Overall | Continued