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The Zacks Analyst Blog Highlights: JPMorgan Chase, Bank of America, Citigroup, HSBC and Barclays PLC
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For Immediate Release
Chicago, IL –October 3, 2019 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: JPMorgan Chase & Co. (JPM - Free Report) , Bank of America Corp. (BAC - Free Report) , Citigroup (C - Free Report) , HSBC Holdings plc (HSBC - Free Report) and Barclays PLC (BCS - Free Report) .
Here are highlights from Wednesday’s Analyst Blog:
Banks Win as Judge Dismisses Mexico Bond-Rigging Lawsuit
U.S. District Judge, Paul Oetken, in Manhattan dismissed a proposed class action lawsuit that was filed in 2017 against several banks, alleging that they tried to rig the Mexican government bonds market, per Reuters.
In May 2017, the Investigative Authority of the Mexican Federal Economic Competition Commission (“COFECE”) conducted an inquiry on several banks to find proof of a possible collusion to manipulate bond prices.
The authority first announced the investigation in April 2017. It wanted to find out if the banks, which bought notes from the government at auctions, colluded to suppress prices. It also planned to investigate whether the banks coordinated to reduce the price and raise yields for holders, leading to higher interest rates for the government and companies.
Notably, JPMorgan Chase & Co., Bank of America Corp., Citigroup, HSBC Holdings plc and Barclays PLC are amongst the several banks that had been accused and hence had been under the focus of COFECE.
However, Oetken dismissed the lawsuit because according to him, the accusers were unable to directly link the defendants with a conspiracy.
In fact, he said that he has not yet been able to find any possible existence of an antitrust conspiracy. Nevertheless, he added that the plaintiffs are allowed to try to amend their complaint.
A lawyer for the plaintiffs said that they are evaluating the ruling.
Many finance companies across the globe have been facing increasing scrutiny for their business practices. Many of these firms paid billions of dollars as fines and compensation to settle lawsuits and probes.
7 Best Stocks for the Next 30 Days
Just released: Experts distill 7 elite stocks from the current list of 220 Zacks Rank #1 Strong Buys. They deem these tickers “Most Likely for Early Price Pops.”
Since 1988, the full list has beaten the market more than 2X over with an average gain of +24.6% per year. So be sure to give these hand-picked 7 your immediate attention.
Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit http://www.zacks.com/performance for information about the performance numbers displayed in this press release.
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The Zacks Analyst Blog Highlights: JPMorgan Chase, Bank of America, Citigroup, HSBC and Barclays PLC
For Immediate Release
Chicago, IL –October 3, 2019 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: JPMorgan Chase & Co. (JPM - Free Report) , Bank of America Corp. (BAC - Free Report) , Citigroup (C - Free Report) , HSBC Holdings plc (HSBC - Free Report) and Barclays PLC (BCS - Free Report) .
Here are highlights from Wednesday’s Analyst Blog:
Banks Win as Judge Dismisses Mexico Bond-Rigging Lawsuit
U.S. District Judge, Paul Oetken, in Manhattan dismissed a proposed class action lawsuit that was filed in 2017 against several banks, alleging that they tried to rig the Mexican government bonds market, per Reuters.
In May 2017, the Investigative Authority of the Mexican Federal Economic Competition Commission (“COFECE”) conducted an inquiry on several banks to find proof of a possible collusion to manipulate bond prices.
The authority first announced the investigation in April 2017. It wanted to find out if the banks, which bought notes from the government at auctions, colluded to suppress prices. It also planned to investigate whether the banks coordinated to reduce the price and raise yields for holders, leading to higher interest rates for the government and companies.
Notably, JPMorgan Chase & Co., Bank of America Corp., Citigroup, HSBC Holdings plc and Barclays PLC are amongst the several banks that had been accused and hence had been under the focus of COFECE.
However, Oetken dismissed the lawsuit because according to him, the accusers were unable to directly link the defendants with a conspiracy.
In fact, he said that he has not yet been able to find any possible existence of an antitrust conspiracy. Nevertheless, he added that the plaintiffs are allowed to try to amend their complaint.
A lawyer for the plaintiffs said that they are evaluating the ruling.
Many finance companies across the globe have been facing increasing scrutiny for their business practices. Many of these firms paid billions of dollars as fines and compensation to settle lawsuits and probes.
7 Best Stocks for the Next 30 Days
Just released: Experts distill 7 elite stocks from the current list of 220 Zacks Rank #1 Strong Buys. They deem these tickers “Most Likely for Early Price Pops.”
Since 1988, the full list has beaten the market more than 2X over with an average gain of +24.6% per year. So be sure to give these hand-picked 7 your immediate attention.
See them now >>
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Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit http://www.zacks.com/performance for information about the performance numbers displayed in this press release.