4 Financial Stock Stories Sparking Chatter
Deutsche Bank (NYSE:DB): Current price $51.72
Europe’s largest lender by assets, Deutsche Bank, is altering the employment relationships with its equity analysts based in Dubai by placing them on consulting contracts, so as to avert job cuts in the Middle East, say two knowledgeable sources, who specified that between three and six analysts are impacted by the decision. The analysts will forfeit some benefits, but they will still be eligible for medical cover and a bonus, and they will continue to provide research exclusively for the bank as before.
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Walker & Dunlop (NYSE:WD): Current price $21.18
The firm announced Tuesday that it recently supplied $120 million in Fannie Mae financing to TF Cornerstone Equities for 45-40 Center Boulevard, a high-rise residential multifamily property in Long Island City, New York. The loan was structured with a 10-year term with 5-years interest only, which will be followed by a 30-year amortization period.
Morgan Stanley (NYSE:MS): Current price $22.83
The company’s top cross-asset strategist, Gregory Peters, is exiting the bank. Back in 2007, Peters warned that mortgage losses risked igniting a financial crisis and prior to that, he was the chief of fixed-income research and led domestic credit strategy. His responsibilities will be assumed by the firm’s committee of global strategists and economists, according to an internal memo obtained by Bloomberg News.
HSBC Holdings (NYSE:HBC): Current price $56.92
HSBC’s arrangement to divest its $7.4 billion interest in China number two insurer, Ping An Insurance Group Co., to the Thai billionaire Dhanin Chearavanont is scheduled to expire at 11:59 p.m. Thursday night. On December 5th, HSBC made an agreement to sell its 15.6 percent holding to Dhanin’s Charoen Pokphand Group Co. for around $9.4 billion and the first phase of $1.9 billion was completed two days later. However, should China’s insurance regulator not okay the deal by the deadline and if the parties fail to agree to an extension, the rest of the pact will expire.
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