4 Financial Stock Stories Ready for Readers on Thursday
Goldman Sachs Group Inc. (NYSE:GS): Current price $163.97
On Wednesday, Goldman’s offices in Zürich had a visit by regional labor department inspectors regarding a complaint about overtime hours. Spokeswoman Irene Tschopp for Zürich canton’s labor department said that, “There was a complaint from the bank employees union and we’re obligated to investigate complaints,” by phone Thursday, confirming a previous report in the Swiss newspaper Tages-Anzeiger.
Tschopp declined to divulge the contents of the complaint or the inspectors’ findings, due to data protection rules, while Goldman Sachs spokeswoman Monika Schaller would not comment. It is alleged that the bank failed to record employees’ working hours or compensate them for overtime, a violation of Swiss law, Tages-Anzeiger reported.
Regions Financial Corp. (NYSE:RF): Current price $9.49
In support of the 50 Years Forward commemoration of the civil rights movement events of 1963 in Birmingham, Regions Financial is hosting a panel discussion focused on the past, present and future of civil and human rights. This event will be webcast and available to the public.
Titled Beyond Suffering and Suffrage: The Past, Present, and Future of International Civil and Human Rights, the panel will be moderated by co-host of CBS This Morning Gayle King and editor-at-large of O, the Oprah Magazine. Distinguished panelists include the former Secretary of State Condoleezza Rice, United States Rep. Eddie Bernice Johnson, former United States Attorney Doug Jones, and retired United States District Judge U.W. Clemon.
U.S. Bancorp (NYSE:USB): Current price $20.74
On Thursday at the bank’s investor conference in New York, Chief Executive Richard Davis of U.S. Bancorp said that the size of his company is “perfect” and that it means to only be in businesses where it can compete effectively. Davis remarked that, “We’ll either be at scale, be getting to scale, or get out. One of the reasons we’re not big on looking to double the size of the bank or pick up a bank of our size in another part of the country where we’re not is because we would much rather double down on where we already are.”
KeyCorp. (NYSE:KEY): Current price $11.98
The rating division of Moody’s Corp., Moody’s Investors Service, has finished its rating review of KeyCorp. and its subsidiaries. The agency kept the long-term ratings of the firm, and projected its outlook as Stable. KeyCorp was reaffirmed at Baa1, but its bank subsidiary, KeyBank National Association, remains at A3 for long-term deposits and Prime-2 for short-term obligations. What is more, KeyBank National Association has a standalone bank financial strength rating of C and the baseline credit assessment of a3.