Archive for April, 2010
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 prices could plunge by as much as 20 percent. Couple this with the feel of things coming out of [...]
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: BAC). JPMorgan Chase, Bank of America, and Citibank all scored consistently at or near [...]
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 loans fell by 15 percent in the period. The Cincinnati based bank said it lost $72 million or [...]
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 expires on April 23rd, but that there are still opportunities for you to get a bonus when [...]
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 received its “Series D” round from new investors TomorrowVentures and CompuCredit Holdings, along with its previous investors Accel Partners; Benchmark Capital; DAG [...]
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 $14.7 million Series D round of funding during the last couple of weeks from TomorrowVentures [...]
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 three business units, known as the “WBR” group, had a total of $2.9 billion for the first [...]
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% from the first quarter of 2009 and was the San Francisco-based bank’s lowest quarterly profit since [...]
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 and Ryan Fiftal wrote, “While TWC trades at a modest premium to large cap cable peer CMCSA, we believe a premium is warranted and [...]
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 the economy recovers Morgan Stanley analysts John Glass and David Dorfman said, “Ahead of the 1Q (due April [...]
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), Wells Fargo (NYSE:WFC) and JP Morgan Chase (NYSE:JPM) would be included. Citigroup (NYSE:C) has been divesting of some of [...]
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, and is underwriting potential sale of about $222.4 million in bonds using the mortgages as collateral. [...]
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 part of its global equities strategy. The brokerage said that oil price fundamentals are improving and should continue to improve during the second half [...]
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 net income of $2.55 billion or 45 cents a share, down from $3.05 billion or 56 cents a [...]
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 will battle them for the business of advising the Polish government on the selling of its assets, including Goldman Sachs (NYSE:GS) and [...]
worst video player ever- after over2:00 there's still no video appearing 