Industry News


Amex’s 4Q16 Impacted by Partnerships, Dollar, Expenses

22h marketrealist
The company posted total revenue net of interest expenses of $8.0 billion compared to $8.4 billion in the prior year’s quarter. Excluding the impacts of the nonrenewal of its partnership with Costco Wholesale (COST) and negative foreign exchange, AXP’s adjusted revenue rose 6% YoY, reflecting the impacts of new partnerships and international growth. The company saw higher card spending and higher net interest income in the period.

StreetShares Foundation Honors Three Veteran Small Businesses: Awards $10,000 to Support Veterans Entrepreneurship and Impact

22h prnewswire
WASHINGTON, Jan. 23, 2017 /PRNewswire/ -- The StreetShares Foundation announced today winners of its monthly Veteran Small Business Awards. StreetShares Foundation and JPMorgan Chase have partnered to provide winners with awards of $5,000, $3,000 and $2,000, respectively.

Thank Goodness For Tax Havens!

22h valuewalk
While my colleagues are stuck in the cold of Washington for inauguration week, I’m enjoying a few days in the Caribbean. More specifically, I’m sharing my views today on Trump and the global economy at the annual Business Outlook Conference in the British Virgin Islands.

Verizon Stock Downgraded: What You Need to Know

23h fool
The first full week of the Donald Trump presidency is dawning bleak for Verizon Communications (NYSE:VZ) shareholders -- but don't blame the president. Blame Wells Fargo instead, for downgrading Verizon stock.

Fulton Financial: Time To Fade Fulton?

23h seekingalpha
One of the standouts to me over this results season so far is how regional banks with market caps of $13-$30bn are posting the same kind of growth as smaller peers, with $3bn market caps. Instinctively, you would look to the small names to fit the Trump bill: loan growth, deregulation, M&A, and I am not ruling it out in the medium term. But Fulton (NASDAQ:FULT) isn't cheap and for now I'd fade it for bigger, cheaper peers.

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New Year, New President, New Wells Fargo Scandal | Dealbreaker

23h dealbreaker
The little red stagecoach has had a smooth enough ride so far this year. Merely drawing breath was enough for investors to reward Wells Fargo when it reported earnings earlier this month. And a new pay scheme promised to help out with that whole lying-cheating-and-stealing thing that the bank had going on. But if you thought 2017 would bring an end to the interminable bludgeoning of the nearly unidentifiable mass of quivering pulp that is Wells Fargo, we’ve got some bad news for you.

World’s Largest Private Bank Makes Contrarian Call on Euro Rally - Bloomberg

2017-01-23 bloomberg
Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

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BRIEF-NORTHWEST BANCSHARES INC Q4 EARNINGS PER SHARE $0.24

2017-01-23 reuters
* NORTHWEST BANCSHARES - NET INTEREST INCOME INCREASED BY $11.7 MILLIO TO $82.9 MILLION FOR QUARTER ENDED DECE 31, 2016, FROM $71.2 MILLION FOR QUARTER ENDED DEC 31, 2015 Source text for Eikon: Further company coverage:

Genesee & Wyoming May Witnes Downside Volatility As Brexit Moves Forward

2017-01-23 seekingalpha
The company's exposure to the U.K. has increased to nearly 30 percent of its operating business through September 2016.

Analyst Shows Why Regions Financial Remains Overlooked and Undervalued

2017-01-23 247wallst
Regions Financial Corp. (NYSE: RF) has been among the many financial stocks benefiting from the post-election rally. The return to more loans, higher rates and less regulation is seen as a boon to banks like Regions Financial.

SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of KemPharm, Inc. - KMPH

2017-01-23 prnewswire
NEW YORK, Jan. 23, 2017 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of KemPharm, Inc. ("KemPharm" or the "Company") (NASDAQ:  KMPH).   Such investors are advised to contact Robert S. Willoughby at rswilloughby@pomlaw.com or 888-476-6529, ext. 9980.

Why 2017 Could Be This Stock's Best Year Yet

2017-01-23 fool
For the banking industry and its investors, 2016 was the first year in a long time that could be referred to as a "great" year. The financial crisis is well in the past, and the election of Donald Trump as president of the United States has given the industry a renewed sense of optimism. Bank of America (NYSE:BAC) was one of the best performers in the sector, but there's reason to believe that the good times could still be in the early stages.

Buffett's New $10 Billion Deal

2017-01-23 seekingalpha
Warren Buffett's Berkshire Hathaway (BRK.A/BRK.B) is getting over $10 billion from AIG (NYSE:AIG) for a reinsurance deal. Under the agreement, Berkshire's maximum liability is $20 billion. Many market participants have been eager to hear from Buffett following the change of administrations. While Buffett opposed President Trump's candidacy he commented that,

Northwest Bancshares, Inc. Announces Record Fourth Quarter 2016 Earnings and Quarterly Dividend Increase

2017-01-23 prnewswire
WARREN, Pa., Jan. 23, 2017 /PRNewswire/ -- Northwest Bancshares, Inc. (NasdaqGS: NWBI) announced net income for the quarter ended December 31, 2016 of $24.5 million, or $0.24 per diluted share. This represents an increase of $8.3 million, or 51.3%, compared to the same quarter last year when net income was $16.2 million or $0.16 per diluted share. The annualized returns on average shareholders' equity and average assets for the quarter ended December 31, 2016 were 8.

SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of State Street Corporation - STT

2017-01-23 prnewswire
NEW YORK, Jan. 23, 2017 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of State Street Corporation ("State Street" or the "Company") (NYSE:  STT).   Such investors are advised to contact Robert S. Willoughby at rswilloughby@pomlaw.com or 888-476-6529, ext. 9980.

Top Ranked Income Stocks to Buy for January 23rd

2017-01-23 zacks
Here are four stocks with buy rank and strong income characteristics for investors to consider today, January 23rd:

Here's Another Way Wells Fargo Took Advantage Of Customers

2017-01-23 valuewalk
Wells Fargo, the largest mortgage lender in the country, portrays itself as a stalwart bank that puts customers first. That reputation shattered in September, when it was fined $185 million for illegally opening as many as 2 million deposit and credit-card accounts without customers’ knowledge.

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Factbox - Impact on banks from Britain's vote to leave the EU

2017-01-23 in.reuters
Global banks have warned they could move thousands of jobs out of Britain to prepare for the expected disruption caused by the country's exit from the European Union, posing a risk to London's status as a major financial centre.

Apollo’s New Guy Is a Legend in Banking But a Novice in Buyouts - Bloomberg

2017-01-23 bloomberg
Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

A Rising Tide of Used Cars Threatens Ford’s Profits - Bloomberg

2017-01-23 bloomberg
Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Peoples Bancorp Announces Fourth Quarter and Annual Earnings Results

2017-01-23 accesswire
NEWTON, NC / ACCESSWIRE / January 23, 2017 / Peoples Bancorp of North Carolina, Inc. (NASDAQ: PEBK), the parent company of Peoples Bank, reported fourth quarter and year to date earnings results with highlights as follows:

Financials Rally as Trump Sworn in as President: Latest Reports on Regions Financial and SunTrust Banks

2017-01-23 accesswire
NEW YORK, NY / ACCESSWIRE / January 23, 2017 / U.S. markets rallied Friday as Donald Trump was sworn in as President. In his inauguration speech, the President stated his administration would "follow two simple rules: buy American and hire American."

Global Pigments Market to Reach a Valuation US$31,983.6 mn by 2023; Rising Construction Activities in Emerging Economies to Keep Demand for Pigments High in Forthcoming Years - TMR

2017-01-23 prnewswire
Featuring the presence of a large number of players, the global pigments market exhibits a highly competitive landscape. Due to its fragmented backdrop, no player in the market reports a high profit margin, Transparency Market Research finds in a new report. The top three players in the market, which include Altana AG, DIC Corporation, and BASF SE, together to hold a share of 30% in the market, TMR's analysis shows.

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Investing in ETFs: 6 hot-topic trends for 2017

2017-01-23 cnbc
The Inside ETF conference has begun, and by all accounts it is the biggest exchange traded fund gathering yet, with close to 2,500 participants spread out over four days of meetings.

Should You Sell Old National Bancorp (ONB) Before Earnings?

2017-01-23 zacks
Investors are always looking for stocks that are poised to beat at earnings season and Old National Bancorp (ONB - Free Report) may be one such company. The firm has earnings coming up pretty soon, and events are shaping up quite nicely for their report.