Wall Street 2016 Outlook Mixed as Forecasts Diverge
Wall Street strategists offer split 2016 targets with risks of a flat or modestly higher S&P 500. Tony Dwyer sees 2360 with a 14.4% gain, while Brian Belski and others predict a 2100 cycle high and a bumpy year amid rate hikes and a stronger dollar.
MENTIONED IN THIS ARTICLE
U.S
Wall Street
Standard & Poor
Federal Reserve
David Kostin
Goldman Sachs
Jonathan Glionna
Barclays
Kostin
Barry Bannister
Stifel
Tony Dwyer
Canaccord Genuity
Dwyer
Fed
Brian Belski
BMO Capital Markets
Belski
Thomas Lee
RBC
Jonathan Golub
UBS
Julian Emanuel
Deutsche Bank
David Bianco
Lina Martin Adams
Wells Fargo
Nomura
Michael Kurtz
Scotiabank
Vincent Delisle
Bofa Se
Goldman
Suchs
KaloBios Seeks Chapter 11 Amid Shkreli Fallout
San Francisco firm KaloBios Pharmaceuticals filed for Chapter 11 bankruptcy protection listing 100 to 199 creditors with estimated liabilities and assets between 1 million and 10 million dollars. Former CEO Martin Shkreli was ousted after his December indictment on securities fraud charges linked to other companies.
MENTIONED IN THIS ARTICLE
Shkreli
Martin Shkreli
KaloBios Pharmaceuticals
KaloBios
Julius Baer to pay 547 million settle U S tax probe
Julius Baer the Swiss private bank expects to pay 547.25 million to settle a U.S. tax probe into aiding wealthy American clients evade taxes. The Zurich announcement said an agreement in principle with U S Attorney Preet Bharara exists, pending DOJ review. Dozens of Swiss banks have faced similar non prosecutions with settlements and disclosures.
MENTIONED IN THIS ARTICLE
U.S
Julius Baer
Zurich
Switzerland
Preet Bharara
U.S. Department of Justice
Department of Justice
Pending home sales fall to ten month low
The National Association of Realtors reports a 0.9 percent drop in the seasonally adjusted pending home sales index to 106.9 in November, the lowest reading in 10 months. Despite the decline, the index is up 2.7 percent from a year earlier as steady hiring and low mortgage rates supported activity earlier in the year while tighter inventories and rising prices cooled demand.
MENTIONED IN THIS ARTICLE
National Association of Realtors
Puerto Rico to Default Again on Major Debt Payments
Puerto Rico faced deeper debt woes as it planned to miss a plan to pay 37.3 million to two creditors, withholding cash from a trust fund. Governor Garcia Padilla urged Congress to approve a Chapter 9 framework while bond insurers condemned the move as illegal amid a broader push for debt relief in Washington.
MENTIONED IN THIS ARTICLE
Puerto Rico
Alejandro Garcia Padilla
U.S
Washington
Ter
U.S. Treasury Department
Garcia Padilla
Congress
House
Paul Ryan
Rwis
Puerto Rico Public Finance Corp
Ambac Assurance
Financial Guaranty Insurance Company
Ambac
Nader Tavakoli
FGIC
Derek M. Donnelly
Obama
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