(BR) Broadridge Financial Solutions First Quarter 2011 Earnings Miss...
Broadridge Financial Solutions Inc. (BR) reported first-quarter fiscal 2011 earnings per share of 10 cents, down from 19 cents in the prior-year quarter and below the Zacks Consensus Estimate of 12...
View Article(BAC) Company News for December 1, 2010 – Corporate Summary
• State Street (NYSE:STT) said it will lay off 1,400 jobs, or 5% of its workforce • RLI (NYSE:RLI) said it will pay a $7.00 per share special dividend • Bank of America (NYSE:BAC) initiated coverage of...
View Article(BBT) BB&T Analyst Upgrades Shares to Neutral
We are upgrading our recommendation on BB&T Corp. (BBT) to Neutral from Underperform based on its balanced growth structure, continuous improvement in deposit mix and strong net interest margin...
View Article(BBT) BBT Corporation’s Ratings Lowered by Moody’s
On Monday, BB&T Corp.’s (BBT) senior debt and long-term deposit ratings were downgraded by Moody’s Investors Service, the ratings arm of Moody’s Corp. (MCO), as a result of concerns related to the...
View Article(AAPL) Company News for January 19, 2011 – Corporate Summary
• Apple (NASDAQ:AAPL) reported estimate-topping sales and earnings, also guiding higher for the fiscal second quarter. Fiscal first quarter earnings of $6.43 is well ahead of the Zacks Consensus...
View Article(ABT) Company News for January 20, 2011 – Corporate Summary
• Share prices of tech major IBM (NYSE:IBM) rose by 3.35% after the company posted excellent earnings figure on Tuesday night • Adtran Inc (NASDAQ:ADTN) increased 6.56% to end at $42.25 after the...
View Article(NTRS) Northern Trust Corporation Buys Bank of Ireland Securities Services
Last week, Northern Trust Corporation (NTRS) announced the acquisition of Bank of Ireland Securities Services (BOISS) for $82 million (€60 million). BOISS, the fund administration unit of Bank of...
View Article(BK) Bank of New York Mellon Announces Dividend Increase and Share Repurchase
Following the Federal Reserve’s approval of its comprehensive capital plan (CCP), Bank of New York Mellon Corporation (BK) joined the other U.S. banks in announcing quarterly dividend increase and...
View Article(BR) Broadridge Financial Solutions Broadens Portfolio
Broadridge Financial Solutions Inc. (BR) recently completed the acquisition of all the intellectual property (IP) rights of a financial service processing solution of Mitsui Knowledge Industry Co Ltd....
View Article(COF) Capital One Gets Fitch Investment Grade Rating Retained
On Monday, Fitch Ratings announced that it has maintained its investment grade ratings on Capital One Financial Corp. (COF) and its core operating subsidiaries. The rating agency stated the company’s...
View Article(GS) Earnings Boost For Stocks – Ahead of Wall Street
Tuesday, April 19, 2011 Following the uncomfortable reminder from the S&P yesterday about the nation’s financial health, stocks will likely go back to ‘normal’ behavior today. Helping the market...
View Article(STT) State Street First Quarter Earnings Beats Expectations on Higher Revenues
State Street Corporation’s (STT) first quarter 2011 operating earnings of 88 cents per share were ahead of the Zacks Consensus Estimate of 85 cents. The results also compare favorably with the prior...
View Article(BBT) BB&T Earnings Report Moves a Penny Ahead of Estimates
BB&T Corporation’s (BBT) first quarter 2011 earnings came in at 32 cents per share, surpassing the Zacks Consensus Estimate by a penny as well as improving from the prior-year quarter’s earnings of...
View Article(KEY) KeyCorp Quarterly Earnings Report Outshines Estimates
KeyCorp’s (KEY) first quarter 2011 net income from continuing operations of 27 cents per share substantially outpaced the Zacks Consensus Estimate of 15 cents. Net income from continuing operations for...
View Article(NTRS) Northern Trust Looks To Be On An Acquisition Spree
Northern Trust Corporation (NTRS) is on an acquisition spree. The latest acquisition that the company has agreed to is that of Omnium LLC, a leading hedge fund administrator, from Citadel. The...
View Article(AAPL) 2011 Second Quarter Earnings Preview – Detailed
Earnings Preview 7/15/11 Second quarter earnings season is now under way, but things really start to move into high gear next week. There will be 348 firms reporting, and 108 of those are in the...
View Article(BAC) July 19: Earnings Take the Spotlight – Economic Highlights
With the second quarter reporting season getting into high gear, we get a torrent of earnings reports today, with a focus on banks. Bank results are benefiting from improving credit quality, though...
View Article(AIXG) Company News for July 20, 2011 – Corporate Summary
• Coca-Cola Company (NYSE:KO) reported Q2 EPS of $1.20, ahead of the Zacks Consensus Estimate of $1.16 per share. Revenues for the quarter rose 47% year-over-year to $12.7 billion, beating the Zacks...
View Article(NTRS) Northern Trust Acquires Omnium
Last Friday, Northern Trust Corporation (NTRS) completed the acquisition of Omnium LLC, a leading hedge fund administrator, from Citadel. The acquisition of Omnium, which has around $70 billion in...
View Article(JPM) JPMorgan Chase & Co – Bank of New York Mellon Likely to Suffer Rating Cut
Over the next 18 months, debt ratings of JPMorgan Chase & Co. (JPM) and Bank of New York Mellon Corporation (BK) might be lowered by Moody’s Investors Service, the rating arm of Moody’s Corp....
View Article(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...
View Article(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....
View Article(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...
View Article(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...
View Article(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...
View Article(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...
View Article(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...
View Article(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...
View Article(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....
View Article(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...
View Article(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...
View Article(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...
View Article(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....
View Article(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...
View Article(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...
View Article(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...
View Article(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...
View Article(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...
View Article(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...
View Article(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). The deal is expected to be closed at...
View Article(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...
View Article(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...
View Article(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...
View Article(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...
View Article(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...
View Article(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...
View Article(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...
View Article(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....
View Article(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...
View Article(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...
View Article
