Home » Archive for April, 2010
American Express (NYSE: AXP) Q1 Earnings More Than Double On Strong Revenue, Shrinking Credit Costs
American Express (NYSE: AXP) announced Thursday that first quarter earnings more than doubled as revenue and volumes showed robust growth. The credit card company also took a much smaller provision for loan losses at net charge-offs... More of this article »
Dick Bove Raises Wells Fargo (NYSE: WFC) To Neutral, Bumps Price Target
Bank analyst Dick Bove raised his rating on Wells Fargo (NYSE: WFC) from sell to neutral on Thursday. The move comes just a day after the bank reported first quarter earnings that were lower than a year ago. Bove of Rochdale Securities... More of this article »
Dividends, Outstanding Shares Among Shareholder Concerns Despite Strong Quarter at Citigroup (NYSE: C)
One year after conducting an annual meeting that could charitably be described as “testy”, Citigroup (C) executives were treated to applause and even a few bouquets from shareholders. Citi’s stock has risen 60% in recent months.... More of this article »
Media Reports that German Bank BayernLB (BAYB.UL) Cut Ties with Goldman Sachs (NYSE:GS) Not True
Sloppy research and reporting from media outlets that German bank BayernLB (BAYB.UL) had cut all ties with Goldman Sachs (NYSE:GS) are untrue, as all the story really entailed the cancellation of only one consultancy agreement. Communicating... More of this article »
Bank of America (NYSE:BAC) Going Global with Wealth Management Unit
Head of the wealth management unit at Bank of America (NYSE:BAC), Sallie Krawcheck, said the focus of the division will be to grow its business beyond the U.S. market, as that’s where the majority of opportunity will be for years. Talking... More of this article »
Citigroup (NYSE:C) Says Real Estate Correction in Chinese Market Inevitable
An increasing number of analysts and investors are concerned over how quickly and high Chinese real estate prices have risen, and according to Citigroup (NYSE:C), there a correction in the Chinese property market is inevitable, and... More of this article »
JPMorgan (NYSE: JPM), Citigroup (NYSE: C), Bank of America (NYSE: BAC) Rank Low for Customer Satisfaction, Survey Says
A new survey from JD Power and Associates shows that customer service leaves much to be desired at some of the largest U.S. banks including JPMorgan Chase & Co (NYSE: JPM), Citigroup Inc (NYSE: C), and Bank of America Corp (NYSE:... More of this article »
Fifth Third Bancorp (NSDQ: FITB) Q1 Loss Widens, But Credit Losses Shrink
Fifth Third Bancorp (NSDQ: FITB) announced Thursday that its first quarter loss nearly tripled compared to a year ago as noninterest income declined. However, the regional bank said it saw solid improvement in credit costs as delinquent... More of this article »
How to Get a Bonus on Your Lending Club Investment
Lending Club, a company which operates a peer to peer lending marketplace, recently offered a 1.5% cash bonus on any new investments for investors that chose to deposit their tax refund into their Lending Club account. The offer... More of this article »
Prosper.com Gets Funded by Google (NASDAQ: GOOG) CEO Eric Schmidt
Prosper.com, a peer to peer lending marketplace, recently closed a $14.7 million “Series D” round of funding from new and existing investors, including Google Inc. (NASDAQ: GOOG) CEO Eric Schmidt through TomorrowVentures. Prosper... More of this article »
Peer to Peer Lending Discussed on This Week in Venture Capital
The Podcast This Week in Venture Capital (TWIVC) discussed the return of the peer to peer lending industry with the two major companies in the arena closing a new round of capital during the last month. Prosper Marketplace closed a... More of this article »
Wells Fargo (NYSE: WFC) Brokerage Unit Reports $282 Million Income, Up 60%
Wells Fargo & Co‘s (NYSE: WFC) business unit which contains wealth management, its brokerage and retirement units reported a net income of $282 million for the first quarter, a 60% increase from the first quarter of 2009. The... More of this article »
Turning the Corner? Wells Fargo & Co. (NYSE: WFC) Posts 1Q Profit; Says Losses From Loans Will Decline
Wells Fargo & Co. (WFC) reported first-quarter net income of $2.5 billion, or 45 cents per share in the first quarter. Analysts had forecast earnings of 42 cents per share, according to Thomson Reuters. The number was down 16%... More of this article »
Morgan Stanley (NYSE: MS) Sets $54.00 Price Target on Time Warner
Morgan Stanley (NYSE: MS) analysts raised their price target on Time Warner Cable (NYSE:TWC) to $54.00 while maintaining their “equal-weight” rating on the stock. Morgan Stanley analysts Benjamin Swinburne, David Gober... More of this article »
Morgan Stanley (NYSE: MS) Raises EPS Estimate on Cheesecake Factory (NASDAQ: CAKE)
Morgan Stanley (NYSE: MS) analyst raised their first quarter earnings per share and 2010 earnings per share estimates for The Cheesecake Factory (NASDAQ: CAKE) citing that the company is well positioned to be a competitive leader as... More of this article »
Bank of America (NYSE:BAC), Wells Fargo (NYSE:WFC) and JP Morgan Chase (NYSE:JPM) Will be Downsized if Liberal Democrats Get Their Way
A group of liberal Democratic senators are seeking to broaden the regulations concerning big banks, as they’ve introduced legislation to limit the size of banks in the United States, of which only Bank of America (NYSE:BAC),... More of this article »
Citigroup (NYSE:C) Back into Mortgage-backed Securities Again
For the first time in over two years, Citigroup (NYSE:C) has entered the mortgage-backed securities market, this time with 255 new mortgages backing the bonds offered. The loans backing the bonds were made over the last year by Citigroup,... More of this article »
Morgan Stanley (NYSE: MS) Upgrades Energy Sector to “Overweight”
Morgan Stanley (NYSE: MS) upgraded the energy sector to “overweight” citing sector-specific and macroeconomic factors are now more supportive for energy than materials, which was cut to a “neutral” rating as... More of this article »
Wells Fargo (NYSE: WFC) Q1 Profit Takes Modest Dip As Mortgage Activity Tumbles
Wells Fargo (NYSE: WFC) announced Wednesday that first quarter earnings dipped slightly, down 1 percent, compared to a year ago as mortgage activity slowed and loan losses continued to weigh on results. The bank reported first quarter... More of this article »
Citigroup (NYSE:C) Expanding Investment Banking Unit in Poland to Serve Government Asset Sales
In anticipation of government asset sales in Poland, Citigroup (NYSE:C) announced they’re going to expand their investment banking operations in the country in response to the opportunity. Some of the competitors of Citigroup... More of this article »
Nomura Banker to Join Bank of America (NYSE: BAC) as Head of European Investment Banking
Bank of America Corp (NYSE: BAC) has announced that it has hired Christian Meissner as its new head of investment banking for Europe, Middle East and Africa just hours after Nomura announced that he resigned his position as deputy... More of this article »
Analysts Comment on Citigroup (NYSE: C) Earnings Results
Citigroup Inc’s (NYSE: C) momentum continued closing up close to 9% for the week following better than expected first quarter earnings results and now analysts are weighing in. Citigroup reported first quarter earnings-per-share... More of this article »
More Regionals Beat Estimates. Huntington Bancshares (NASDAQ: HBAN) Posts Profit; KeyCorp (NYSE: KEY) and Suntrust (NYSE: STI) Post Smaller-Than-Expected Losses.
As reported in the Wall St. Journal, Huntington Bancshares Inc. (HBAN) posted its first profit in more than a year in the first quarter, while KeyCorp (KEY) and SunTrust Banks Inc. (STI) posted smaller-than-expected quarterly losses. Regional... More of this article »