Home » Archive for April, 2010
Morgan Stanley (NYSE: MS) Says Germany May Withdraw from Euro Zone
Morgan Stanley (NYSE: MS) warned that the debt crisis in Greece is setting off a chain of events which could lead to Germany withdrawing from the euro-zone. “The backstop package for Greece and the ECB’s climb-down on its... More of this article »
Questions About the SEC in Case Against Goldman Sachs (NYSE:GS)
There can be no doubt the charges by the SEC against Goldman Sachs (NYSE:GS) have been waiting in the wings as a political tool to use at the right time to promote the agenda of the Obama Administration, which has been tottering on... More of this article »
Bank of America (NYSE: BAC) CFO Could Earn Up to $8.5 Million
Bank of America (NYSE: BAC) named Charles Noski as its new chief financial officer and according to a regulatory filing, Noski could earn as much as $8.5 million annually in salary and bonuses. The Charlotte, N.C.-based bank disclosed... More of this article »
Citigroup (NYSE:C) Doubles Profits, Pandit’s Guidance Cautious
Although Citigroup (NYSE:C) CEO Vikram Pandit was happy with the first quarter results, which surprised some by doubling profits and increasing revenue, Pandit was quit to add caution on any type of positive guidance going forward,... More of this article »
Ford (NYSE: F) Offers Special “Raptor” Edition F-150
Ford Motor Co (NYSE: F) said that it has been inundated with orders for its specialty F-150 SVT “Raptor” off-road pickup and says that sales for the specialty pick-up have been well beyond its expectations. The “Raptor”... More of this article »
Citigroup (NYSE: C) Swings To Q1 Profit, Tops Estimates
Citigroup (NYSE: C) announced Monday that it swung to a profit in the first quarter, earning $4.4 billion or 15 cents a share, compared to a loss of $696 million in the same period a year earlier. The quarterly profit was the bank’s... More of this article »
Wells Fargo (NYSE: WFC) Expands Email ATM Receipts to NC and CO
Wells Fargo (NYSE: WFC) has expanded its electronic ATM receipt option to customers in North Carolina and Colorado. The ATM machines will offer customers the option of bypassing a paper receipt and instead receiving a message to their... More of this article »
Bank of America (NYSE: BAC) Completed 12,234 HAMP Modifications in March
Bank of America Corp. (NYSE: BAC) added 12,234 new customers to its total of completed mortgage modifications under the federal Home Mortgage Affordability Program (HAMP) during the month of March, the bank’s largest increase... More of this article »
Citigroup (NYSE: C) Set to Release Earnings Today
Citigroup Inc (NSE: C) is scheduled to release its earnings result later this morning, although predictions from analysts are all over the board. On average, analysts are predicting that Citigroup will have total sales of $20.77 billion... More of this article »
Bank of America (NYSE: BAC) Posts $2.83 Billion Q1 Net Income
Bank of America Corp. (NYSE: BAC) said that its net income increased to $2.83 billion during the first quarter, up from $2.81 billion during the same quarter a year ago. “With each day that passes, the 2010 story appears to be... More of this article »
Citigroup (NYSE: C) Survey Says Ten-Year Swap Spreads to Remain Near Zero
A new survey from Citigroup Inc (NYSE: C) predicts that ten-year swap spreads will remain between 0% and 0.1% during the next three months. A swap spread is the difference between the rate to exchange fixed- for -floating interest... More of this article »
Citigroup (NYSE: C) Completes $230 Million Sale of Primerica (NYSE: PRI) to Warburg Pincus
Citigroup Inc (NYSE: C) has completed a $230 million sale of Primerica (NYSE: PRI) common stock to private equity firm Warburg Pincus LLC, reducing its stake in the now public insurance company to less than 40%. Primerica is a company... More of this article »
Goldman Sachs (NYSE: GS) Raises Price Target on Charles Schwab Corp. (Nasdaq: SCHW)
Goldman Sachs Group Inc (NYSE: GS) raised its price target on Charles Schwab Corp (NASDAQ: SCHW) from $18.00 to $20.00, but the firm kept its “neutral” rating on the stock brokerage company. Goldman said it is still early to get... More of this article »
Earnings Reports in Focus for Regional Banks Including: Regions Financial Corp. (NYSE: RF), U.S. Bancorp (NYSE: USB), and SunTrust Banks (NYSE: STI)
Next week, large regional banks including Regions Financial (RF), SunTrust Banks (STI) and U.S. Bancorp (USB) will begin unveiling their first-quarter numbers. Regional banks have surged roughly 30% this year, as many investors,... More of this article »
Citigroup (NYSE: C) Permanent Home Modifications Total 22,445 for March
The latest numbers from the Obama administration’s Home Mortgage Affordability Program (HAMP) have been released, indicating that Citigroup’s CitiMortgage unit has made 22,455 permanent home loan modifications as of the... More of this article »
Analysts Reports Show Continuing Concern About Bad Loans at Citibank (NYSE: C), Bank of America Corp. (NYSE: BAC), J.P. Morgan Chase (NYSE: JPM) and Wells Fargo (NYSE: WFC)
JPMorgan Chase & Company’s (JPM) first quarter earnings came in at 74 cents per share. That was substantially ahead of the Consensus Estimate from Zacks Investment Research of 63 cents per share. Bank of America Corp. (BAC) reported... More of this article »
Earnings at Bank of America Corp. (NYSE: BAC) Show Investors a Glass that is Half-Empty and Half-Full
A surge in profits from bond and stock trading propelled Bank of America Corp. (BAC) to $3.2 billion in first-quarter earnings, more than doubling from the fourth quarter of last year. Bank of America enjoyed a similar surge in its... More of this article »
Morgan Stanley (NYSE:MS) Says Political Unrest in Thailand Will Hamper Economic Growth
In a recent report talking about the effects of the protests against the Thailand government, Morgan Stanley (NYSE:MS) said the loss of tourism business will have a significant impact on the economic growth of the country this year. Morgan... More of this article »
Citigroup (NYSE:C) Finalizes Sale of Primerica Shares, Ready for Monday’s Quarterly Report
On a daily basis Citigroup (NYSE:C) has by far been the most traded stock on the exchange, and Monday is sure to be a huge day as the company prepares to report its quarterly results, which will be before the market opens. It helps... More of this article »
JPMorgan Chase (NYSE: JPM) Executive Mobbed by Angry Homeowners
JPMorgan Chase (NYSE: JPM) Home Mortgage Chief David Lowman was mobbed by angry borrowers on Tuesday after he invited customers to speak to him if they were afraid that their home would be foreclosed upon at a congressional hearing... More of this article »
Prosper.com Finalizes $14.7 Million Series D Funding Round
Peer to peer lending company Prosper.com has announced that it has finalized a $14.7 million Series D round from new investors TomorrowVentures, LLC and CompuCredit Holdings Corporation (NASDAQ: CCRT) and all of Prosper’s existing... More of this article »
SEC Files Fraud Charges Against Goldman Sachs (NYSE: GS)
The Securities and Exchange Commission filed charges against Goldman Sachs Group Inc (NYSE: GS) on Friday, accusing the Wall Street firm of defrauding investors in a sale of securities tied to subprime mortgages. The SEC announced... More of this article »
Bank of America (NYSE: BAC) Says Loan Losses Eased in March
Bank of America Corp. (NYSE: BAC) disclosed in a regulatory filing on Thursday that its rate of credit card loan losses eased during the month of March. In a filing with the Securities and Exchange Commission, Bank of America said... More of this article »