JC Penney and Kraft rise, Weight Watchers and Gap skid + MORE Feb 27th

They say you can learn a lot from the movies. This was especially true this year when Michael Lewis’s book The Big Short was made into a film. It was scintillating entertainment starring Ryan Gosling, Christian Bale and Steve Carrell, but also carried several empowering money tips to help us build our wealth without getting duped by get-rich-quick schemes. Here’s a few notable financial lessons we found in the 2016 Oscar best picture nominee that are worth making a part of your daily life:
1. A little financial literacy goes a long way
No one would say that learning the lingo of high finance is easy but The Big Short shows that even difficult financial concepts like credit default swaps, synthetic collateral debt obligations (CDOs) and sub-prime mortgages are easy to understand if you take the time to research them—and if you realize that irrational human behaviour often lies at the heart of all these get-rich-quick products. That’s why pop-star and actress Selena Gomez explaining synthetic CDOs brought home the point that finance isn’t that hard—especially if you’re keen on learning if there’s something in it for you…

CORAL GABLES, Fla. – A bank linked to imprisoned Ponzi schemer Scott Rothstein has been fined $6.5 million by federal regulators for failing to report money laundering activity.
Coral Gables-based Gibraltar Private Bank and Trust Co. was fined $4 million by the Treasury Department’s Financial Crimes Enforcement Network for failing to file 120 suspicious activity reports connected to Rothstein’s scheme. The bank was also fined $2.5 million by the Office of the Comptroller of the Currency for similar failures.
Bank officials did not immediately respond Friday to a telephone call seeking comment.
Rothstein is serving a 50-year prison sentence for operating a $1.2 billion Ponzi scheme that revolved around investments in phoney court settlements. A total of 29 people have been convicted in the scam, which imploded in late 2009.
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NEW YORK, N.Y. – Stocks that moved substantially or traded heavily Friday on the New York Stock Exchange and the Nasdaq stock market:
NYSE
Weight Watchers International Inc. (WTW), down $4.54 to $11.01
The weight-loss company tumbled after it took an unexpected loss in the fourth quarter and gave a weak first-quarter outlook.
J.C. Penney Co. (JCP), up $1.23 to $9.59
The retailer reported solid fourth-quarter results on better holiday-season spending and gave a positive outlook on sales.
Gap Inc. (GPS), down 37 cents to $27.23
The retailer said its business was hurt by the strong dollar and it gave a weak profit forecast.
Hilton Worldwide Holdings Inc. (HLT), up 50 cents to $20.70
The company said it will spin off its timeshare business and most of its real estate business to boost shareholder value.
Royal Bank of Scotland Group PLC (RBS), down 56 cents to $6.30
The bank disclosed its eighth consecutive annual loss and said it won’t start paying dividends yet.
Nasdaq
Nutrisystem Inc…

The Ontario government released its budget yesterday and the biggest showstopper policy was a complete overhaul of the province’s student financial aid services. Under the new Ontario Student Grant (OSG) system, to be implemented in the 2017/18 school year, lower-income students are going to be eligible for enough grants to cover their entire college or university tuition. It’s pretty exciting news for many young Ontarians (as well as their parents, obviously). “There are some very, very good components to it,” says Colin Busby, associate director research at the C.D. Howe Institute. “You’re taking this assortment of programs, bringing it into one program, one that’s very transparent and readily understood and available to people and to potential students.” But the announcement also raises a number of questions. More details will be revealed in the coming months but in the meantime, here’s what we know:
1. Who qualifies and how?
Ontario students from families that earn $50,000 or less will be eligible for larger grants than under the current system…

Credit spreads have eased back from precarious highs, while several U.S. giants have returned to the debt markets they have so liberally tapped over the years since the financial crisis