JP Morgan Chase & Co (JPM) 59.22 $JPM
Fitch Rates J.P. Morgan PUTTERs/DRIVERs Series 4474 Trust
Business Wire - Wed Sep 10, 3:24PM CDT
Fitch Ratings assigns the following ratings to the Puttable Tax-Exempt Receipts (PUTTERs) and Derivative Inverse Tax-Exempt Receipts (DRIVERs) of the J.P. Morgan PUTTERs/DRIVERs Trust series listed below:
Why Apple Pay Is So Important to Apple's Future
at The Street - Wed Sep 10, 3:10PM CDT
As Apple continues to expand beyond just iDevices, the massive profit and potential behind Apple Pay is one of the keys to the tech giant's revenue growth in the future.
J. C. Penney Announces Pricing of Offering of Senior Unsecured Notes
Thomson Reuters ONE - Wed Sep 10, 3:05PM CDT
PLANO, Texas - (Sept. 10, 2014) - J. C. Penney Company, Inc. (the "Company"
(NYSE: JCP) announced today that its wholly owned subsidiary, J. C. Penney Corporation, Inc. (together with the Company, "J. C. Penney", has upsized and priced its underwritten public offering of $400 million aggregate principal amount of 8.125% senior unsecured notes due 2019, for which the Company will be a co-obligor (the "Notes". The size of the offering was increased from the previously announced $350 million. The Notes were priced at 100% of face amount for a yield to maturity of 8.125%. The offering is expected to close on or about September 15, 2014, subject to market and other conditions. J. C. Penney intends to use the net proceeds from the offering of the Notes to pay the tender consideration and related transaction fees and expenses for J. C. Penney's contemporaneous tender offers to purchase for cash up to $300 million aggregate principal amount of its outstanding 6.875% Medium-Term Notes due 2015, 7.65% Debentures due 2016 and 7.95% Debentures due 2017 (collectively, the "Tender Securities". J. C. Penney intends to use any remaining net proceeds for general corporate purposes, which may include further purchasing or otherwise retiring a portion of its existing indebtedness.
Will Apple Pay Brighten Outlook for Credit Card Processors? - Analyst Blog
Zacks Equity Research - Zacks Investment Research - Wed Sep 10, 1:25PM CDT
Apple Pay has the potential to decide the future of the digital payments market, although hurdles lay in the near term.
3 Stocks Driving The Financial Sector Higher
at The Street - Wed Sep 10, 12:04PM CDT
TheStreet highlights 3 stocks pushing the financial sector higher today.
No Escape for U.S. Banks: New Regulations in the Cards - Analyst Blog
Zacks Equity Research - Zacks Investment Research - Wed Sep 10, 11:03AM CDT
Adding to the already intense regulations in the banking sector, the Federal Reserve intends to impose new stricter norms on the U.S. banking giants.
Big Bank Stocks Just Aren't Worth the Headache
at The Street - Wed Sep 10, 9:55AM CDT
Regulators continue to tighten the screws on big banks like Bank of America, JPMorgan Chase and Goldman Sachs, and investors just aren't getting paid to take the risk.
Stock Market Today: Futures Waver Amid Global Uncertainties
at The Street - Wed Sep 10, 7:12AM CDT
U.S. stock index futures are struggling for direction as the market ascertains whether it should buy into the prior session's weakness.
BioMarin to Attend Upcoming Investor Conferences in London
GlobeNewswire - Wed Sep 10, 7:00AM CDT
- J.P. Morgan Annual U.S. All Stars Conference in London on September 16
AmTrust Announces Pricing of $80 Million in Depositary Shares Representing Interests in Preferred Stock
GlobeNewswire - Wed Sep 10, 6:00AM CDT
AmTrust Financial Services, Inc. (Nasdaq:AFSI) (the "Company" or "AmTrust" today announced that it priced on September 9, 2014 an underwritten public offering of 3,200,000 of its depositary shares (the "Depositary Shares", each representing a 1/40 interest in a share of its 7.625% Non-Cumulative Preferred Stock, Series C (the "Preferred Stock", with a liquidation preference of $1,000.00 per share (equivalent to $25.00 per Depositary Share), or $80 million in aggregate liquidation preference. The offering price per Depositary Share is $25.00, for aggregate gross proceeds of $80 million. The Company has granted the underwriters a 30-day option, expiring on October 9, 2014, to purchase up to an additional 480,000 Depositary Shares from the Company on the same terms and conditions. Each Depositary Share entitles the holder to a proportional fractional interest in all rights and preferences of the Preferred Stock represented thereby (including any dividend, liquidation, redemption and voting rights). The Company expects the offering to close on September 16, 2014, subject to customary closing conditions. Dividends on the Preferred Stock represented by the Depositary Shares will be payable on the liquidation preference amount, on a non-cumulative basis, when, as and if declared by the board of directors of the Company, at a rate of 7.625% per annum, quarterly in arrears, on March 15, June 15, September 15 and December 15 of each year, beginning on December 15, 2014, from and including the date of original issuance. The Preferred Stock represented by the Depositary Shares is not redeemable prior to September 16, 2019. After that date, the Company may redeem at its option, in whole or in part, the Preferred Stock represented by the Depositary Shares at a redemption price of $1,000.00 per share (equivalent to $25.00 per Depositary Share) plus any declared and unpaid dividends for prior dividend periods and accrued but unpaid dividends (whether or not declared) for the then current dividend period. The Company intends to apply to list the Depositary Shares for trading on the New York Stock Exchange. The Company expects to use the net proceeds from the offering for general corporate purposes, which may include working capital, capital expenditures and/or strategic acquisitions.
Asian stock markets sink after Wall Street decline
By JOE McDONALD - AP - Tue Sep 09, 10:26PM CDT
BEIJING (AP) — Asian stock markets sank Wednesday following Wall Street's decline and weak Japanese machinery orders while investors mulled the timing of a possible U.S. interest rate hike.
Fed ramps pressure for biggest US banks to shrink
By MARCY GORDON - AP - Tue Sep 09, 6:27PM CDT
WASHINGTON (AP) — The Federal Reserve is pushing the biggest U.S. banks to shrink so that they're less of a risk to the financial system.
RBS Initiates Citizens IPO on NYSE to Raise Around $4B - Analyst Blog
Zacks Equity Research - Zacks Investment Research - Tue Sep 09, 4:45PM CDT
The post-crisis era is likely to witness the largest initial public offering (IPO) as The Royal Bank of Scotland Group plc (RBS) announced the floatation of its U.S. retail banking subsidiary, Citizens Financial Group Inc.
Iron Mountain to Participate in Upcoming Investor Conferences
Business Wire - Tue Sep 09, 3:45PM CDT
Iron Mountain Incorporated (NYSE: IRM), the storage and information management services company, will participate in the following investor conferences:
Look for Shares of JPMorgan Chase to Potentially Rebound after Yesterday's 1.39% Sell Off
Comtex SmarTrend(R) - Tue Sep 09, 3:44PM CDT
JPMorgan Chase (NYSE:JPM) traded in a range yesterday that spanned from a low of $58.78 to a high of $59.68. Yesterday, the shares fell 1.4%, which took the trading range below the 3-day low of $59.22 on volume of 14.8 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.
After Yesterday's Decline of 1.39%, JPMorgan Chase Offers Investors Better Value
Comtex SmarTrend(R) - Tue Sep 09, 3:43PM CDT
JPMorgan Chase (NYSE:JPM) traded in a range yesterday that spanned from a low of $58.78 to a high of $59.68. Yesterday, the shares fell 1.4%, which took the trading range below the 3-day low of $59.22 on volume of 14.8 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.
Buckeye Partners, L.P. Prices $600 Million Offering of Senior Notes
GlobeNewswire - Tue Sep 09, 3:43PM CDT
Buckeye Partners, L.P. ("Buckeye" (NYSE:BPL) announced today that it has priced an offering of $600 million aggregate principal amount of senior unsecured notes, including $300 million 4.35% senior notes due 2024 and $300 million 5.60% senior notes due 2044 at 99.825% and 99.876% of par, respectively. Buckeye expects the offering to close on September 12, 2014, subject to customary closing conditions. Buckeye expects to receive net proceeds after deducting the underwriting discount and offering expenses in connection with the offering of approximately $598.4 million. Buckeye intends to use the net proceeds from the offering (i) to fund a portion of the purchase price of the previously announced transaction with Trafigura Corpus Christi Holdings Inc. (the "Trafigura Transaction" and related expenses, (ii) to fund the redemption of all $275 million aggregate principal amount of our outstanding 5.300% Notes due October 15, 2014 and (iii) for general partnership purposes, including the settlement of existing interest rate swaps and prepayment of amounts due under our credit facility.
Hall of Fame Speaker Joe Calloway Headlines 2014 #ChaseBIS Series with Tips on the Only Strategy a Small Business Owner Needs
Business Wire - Tue Sep 09, 3:15PM CDT
Chase, one of the nation's leading banks for American small business, today launched the 2014 edition of its exclusive Business Insight Seminar Series, featuring Joe Calloway. A member of the International Speakers Hall of Fame, Calloway is also the bestselling author of the new book, "Be the Best at What Matters Most: The Only Strategy You'll Ever Need."
3 Reasons to Buy the Financial Select Sector SPDR Fund
Matthew Frankel, The Motley Fool - Motley Fool - Tue Sep 09, 1:20PM CDT
The financial sector has had a pretty mediocre year so far, even as the S&P 500 is up 8% and seems to hit a new record high every week. The Financial Select Sector SPDR Fund ETF is lagging the broad-based index by about a percentage point,...
Big Banks Facing More Rules As Fed Eyes Surcharge
at Investor's Business Daily - Tue Sep 09, 1:03PM CDT
Big U.S. banks can expect tougher capital requirements than their foreign counterparts will face, as regulators seek to reduce the risk of a bank failure bringing down the economy, a Federal Reserve official said Tuesday. The surcharge that large...
Fitch Rates J.P. Morgan PUTTERs/DRIVERs Series 4474 Trust
Business Wire - Wed Sep 10, 3:24PM CDT
Fitch Ratings assigns the following ratings to the Puttable Tax-Exempt Receipts (PUTTERs) and Derivative Inverse Tax-Exempt Receipts (DRIVERs) of the J.P. Morgan PUTTERs/DRIVERs Trust series listed below:
Why Apple Pay Is So Important to Apple's Future
at The Street - Wed Sep 10, 3:10PM CDT
As Apple continues to expand beyond just iDevices, the massive profit and potential behind Apple Pay is one of the keys to the tech giant's revenue growth in the future.
J. C. Penney Announces Pricing of Offering of Senior Unsecured Notes
Thomson Reuters ONE - Wed Sep 10, 3:05PM CDT
PLANO, Texas - (Sept. 10, 2014) - J. C. Penney Company, Inc. (the "Company"
(NYSE: JCP) announced today that its wholly owned subsidiary, J. C. Penney Corporation, Inc. (together with the Company, "J. C. Penney", has upsized and priced its underwritten public offering of $400 million aggregate principal amount of 8.125% senior unsecured notes due 2019, for which the Company will be a co-obligor (the "Notes". The size of the offering was increased from the previously announced $350 million. The Notes were priced at 100% of face amount for a yield to maturity of 8.125%. The offering is expected to close on or about September 15, 2014, subject to market and other conditions. J. C. Penney intends to use the net proceeds from the offering of the Notes to pay the tender consideration and related transaction fees and expenses for J. C. Penney's contemporaneous tender offers to purchase for cash up to $300 million aggregate principal amount of its outstanding 6.875% Medium-Term Notes due 2015, 7.65% Debentures due 2016 and 7.95% Debentures due 2017 (collectively, the "Tender Securities". J. C. Penney intends to use any remaining net proceeds for general corporate purposes, which may include further purchasing or otherwise retiring a portion of its existing indebtedness. Will Apple Pay Brighten Outlook for Credit Card Processors? - Analyst Blog
Zacks Equity Research - Zacks Investment Research - Wed Sep 10, 1:25PM CDT
Apple Pay has the potential to decide the future of the digital payments market, although hurdles lay in the near term.
3 Stocks Driving The Financial Sector Higher
at The Street - Wed Sep 10, 12:04PM CDT
TheStreet highlights 3 stocks pushing the financial sector higher today.
No Escape for U.S. Banks: New Regulations in the Cards - Analyst Blog
Zacks Equity Research - Zacks Investment Research - Wed Sep 10, 11:03AM CDT
Adding to the already intense regulations in the banking sector, the Federal Reserve intends to impose new stricter norms on the U.S. banking giants.
Big Bank Stocks Just Aren't Worth the Headache
at The Street - Wed Sep 10, 9:55AM CDT
Regulators continue to tighten the screws on big banks like Bank of America, JPMorgan Chase and Goldman Sachs, and investors just aren't getting paid to take the risk.
Stock Market Today: Futures Waver Amid Global Uncertainties
at The Street - Wed Sep 10, 7:12AM CDT
U.S. stock index futures are struggling for direction as the market ascertains whether it should buy into the prior session's weakness.
BioMarin to Attend Upcoming Investor Conferences in London
GlobeNewswire - Wed Sep 10, 7:00AM CDT
- J.P. Morgan Annual U.S. All Stars Conference in London on September 16
AmTrust Announces Pricing of $80 Million in Depositary Shares Representing Interests in Preferred Stock
GlobeNewswire - Wed Sep 10, 6:00AM CDT
AmTrust Financial Services, Inc. (Nasdaq:AFSI) (the "Company" or "AmTrust"
today announced that it priced on September 9, 2014 an underwritten public offering of 3,200,000 of its depositary shares (the "Depositary Shares", each representing a 1/40 interest in a share of its 7.625% Non-Cumulative Preferred Stock, Series C (the "Preferred Stock", with a liquidation preference of $1,000.00 per share (equivalent to $25.00 per Depositary Share), or $80 million in aggregate liquidation preference. The offering price per Depositary Share is $25.00, for aggregate gross proceeds of $80 million. The Company has granted the underwriters a 30-day option, expiring on October 9, 2014, to purchase up to an additional 480,000 Depositary Shares from the Company on the same terms and conditions. Each Depositary Share entitles the holder to a proportional fractional interest in all rights and preferences of the Preferred Stock represented thereby (including any dividend, liquidation, redemption and voting rights). The Company expects the offering to close on September 16, 2014, subject to customary closing conditions. Dividends on the Preferred Stock represented by the Depositary Shares will be payable on the liquidation preference amount, on a non-cumulative basis, when, as and if declared by the board of directors of the Company, at a rate of 7.625% per annum, quarterly in arrears, on March 15, June 15, September 15 and December 15 of each year, beginning on December 15, 2014, from and including the date of original issuance. The Preferred Stock represented by the Depositary Shares is not redeemable prior to September 16, 2019. After that date, the Company may redeem at its option, in whole or in part, the Preferred Stock represented by the Depositary Shares at a redemption price of $1,000.00 per share (equivalent to $25.00 per Depositary Share) plus any declared and unpaid dividends for prior dividend periods and accrued but unpaid dividends (whether or not declared) for the then current dividend period. The Company intends to apply to list the Depositary Shares for trading on the New York Stock Exchange. The Company expects to use the net proceeds from the offering for general corporate purposes, which may include working capital, capital expenditures and/or strategic acquisitions. Asian stock markets sink after Wall Street decline
By JOE McDONALD - AP - Tue Sep 09, 10:26PM CDT
BEIJING (AP) — Asian stock markets sank Wednesday following Wall Street's decline and weak Japanese machinery orders while investors mulled the timing of a possible U.S. interest rate hike.
Fed ramps pressure for biggest US banks to shrink
By MARCY GORDON - AP - Tue Sep 09, 6:27PM CDT
WASHINGTON (AP) — The Federal Reserve is pushing the biggest U.S. banks to shrink so that they're less of a risk to the financial system.
RBS Initiates Citizens IPO on NYSE to Raise Around $4B - Analyst Blog
Zacks Equity Research - Zacks Investment Research - Tue Sep 09, 4:45PM CDT
The post-crisis era is likely to witness the largest initial public offering (IPO) as The Royal Bank of Scotland Group plc (RBS) announced the floatation of its U.S. retail banking subsidiary, Citizens Financial Group Inc.
Iron Mountain to Participate in Upcoming Investor Conferences
Business Wire - Tue Sep 09, 3:45PM CDT
Iron Mountain Incorporated (NYSE: IRM), the storage and information management services company, will participate in the following investor conferences:
Look for Shares of JPMorgan Chase to Potentially Rebound after Yesterday's 1.39% Sell Off
Comtex SmarTrend(R) - Tue Sep 09, 3:44PM CDT
JPMorgan Chase (NYSE:JPM) traded in a range yesterday that spanned from a low of $58.78 to a high of $59.68. Yesterday, the shares fell 1.4%, which took the trading range below the 3-day low of $59.22 on volume of 14.8 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.
After Yesterday's Decline of 1.39%, JPMorgan Chase Offers Investors Better Value
Comtex SmarTrend(R) - Tue Sep 09, 3:43PM CDT
JPMorgan Chase (NYSE:JPM) traded in a range yesterday that spanned from a low of $58.78 to a high of $59.68. Yesterday, the shares fell 1.4%, which took the trading range below the 3-day low of $59.22 on volume of 14.8 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.
Buckeye Partners, L.P. Prices $600 Million Offering of Senior Notes
GlobeNewswire - Tue Sep 09, 3:43PM CDT
Buckeye Partners, L.P. ("Buckeye"
(NYSE:BPL) announced today that it has priced an offering of $600 million aggregate principal amount of senior unsecured notes, including $300 million 4.35% senior notes due 2024 and $300 million 5.60% senior notes due 2044 at 99.825% and 99.876% of par, respectively. Buckeye expects the offering to close on September 12, 2014, subject to customary closing conditions. Buckeye expects to receive net proceeds after deducting the underwriting discount and offering expenses in connection with the offering of approximately $598.4 million. Buckeye intends to use the net proceeds from the offering (i) to fund a portion of the purchase price of the previously announced transaction with Trafigura Corpus Christi Holdings Inc. (the "Trafigura Transaction" and related expenses, (ii) to fund the redemption of all $275 million aggregate principal amount of our outstanding 5.300% Notes due October 15, 2014 and (iii) for general partnership purposes, including the settlement of existing interest rate swaps and prepayment of amounts due under our credit facility. Hall of Fame Speaker Joe Calloway Headlines 2014 #ChaseBIS Series with Tips on the Only Strategy a Small Business Owner Needs
Business Wire - Tue Sep 09, 3:15PM CDT
Chase, one of the nation's leading banks for American small business, today launched the 2014 edition of its exclusive Business Insight Seminar Series, featuring Joe Calloway. A member of the International Speakers Hall of Fame, Calloway is also the bestselling author of the new book, "Be the Best at What Matters Most: The Only Strategy You'll Ever Need."
3 Reasons to Buy the Financial Select Sector SPDR Fund
Matthew Frankel, The Motley Fool - Motley Fool - Tue Sep 09, 1:20PM CDT
The financial sector has had a pretty mediocre year so far, even as the S&P 500 is up 8% and seems to hit a new record high every week. The Financial Select Sector SPDR Fund ETF is lagging the broad-based index by about a percentage point,...
Big Banks Facing More Rules As Fed Eyes Surcharge
at Investor's Business Daily - Tue Sep 09, 1:03PM CDT
Big U.S. banks can expect tougher capital requirements than their foreign counterparts will face, as regulators seek to reduce the risk of a bank failure bringing down the economy, a Federal Reserve official said Tuesday. The surcharge that large...
