Home » Archive for April, 2010
Wells Fargo Reports 523,336 HAMP Mortgage Modifications (NYSE: WFC)
Wells Fargo & Co (NYSE: WFC) announced on Wednesday that it had modified 523,336 mortgages through the bank’s internal programs and through the federal government’s Home Mortgage Affordability Program (HAMP) as of March... More of this article »
Citigroup (NYSE:C) Smashes Through $5 Barrier
For the first time since October 2009, Citigroup (NYSE:C) surged above $5 a share, continuing the rally it has enjoyed so far throughout April. So far in April Citigroup has exploded for almost a 25 percent gain, largely on the news... More of this article »
Bank of America (NYSE: BAC) to Double Spending on Digital Advertising
Bank of America Corp. (NYSE: BAC) is planning to double the amount of money its spending on digital advertising, according to a new report from Ad Age. As a result, the company will be spending less on traditional media outlets such... More of this article »
Lending Club and Prosper: Comparing Two Peer to Peer Lending Models
Lending Club and Prosper Marketplace are the two established companies in the United States which offer peer to peer lending marketplaces in which people can make loans to one another. Although they have similar business plans, the... More of this article »
Massachusetts to Take Business Away from Wells Fargo (NYSE: WFC), Citigroup (NYSE: C) and Bank of America (NYSE: BAC)
Massachusetts’ state government will withdraw more than $243 million worth of state funds from their Bank of America Corp. (NYSE: BAC), Wells Fargo & Co (NYSE: WFC) and Citigroup Inc (NYSE: C) accounts because the three banks... More of this article »
Citigroup (NYSE: C) Sets New Price Target on Philip Morris (NYSE: PM)
Citigroup‘s (NYSE: C) equity research team issued a new price target of $56.00 on Philip Morris International (NYSE: PM) and reiterated its buy rating. Citi analyst says, “PM has met or beaten consensus every quarter since... More of this article »
Sale Continues at Citi (NYSE: C). SkyBridge Capital LLC to Acquire Three Hedge-Fund Businesses
Continuing to reduce their risk profile, Citigroup Inc (C) has announced the sale of three hedge-fund businesses to SkyBridge Capital LLC. The sale is the latest step being taken by Citi to reduce the government shadow (the Treasury... More of this article »
Theflyonthewall.com Asks for Ban to be Lifted in Case Against Banking Giants Bank of America (NYSE:BAC), Morgan Stanley (NYSE:MS) and Barclays (LSE:BARC)
Theflyonthewall.com has pressed U.S. District Judge Denise Cote to remove the ban she placed on the company in March in a case brought against them by banking giants Bank of America (NYSE:BAC), Morgan Stanley (NYSE:MS) and Barclays... More of this article »
Under Fire in Washington, J.P. Morgan Chase & Co. (NYSE: JPM) Reports 55% Increase in Profits
J.P. Morgan Chase (JPM) reported a 1st quarter profit of $3.3 billion, an increase of 55% from a year earlier. The improving economy left its mark on the bank’s first-quarter earnings, as delinquencies continued to decline and the... More of this article »
Bank Of America (NYSE: BAC) Taps Noski As New CFO
Bank of America (NYSE: BAC) announced Wednesday it has named Charles H. Noski as executive vice president and chief financial officer, effective May 11. Noski, 57, was most recently the CFO and corporate vice president of aerospace... More of this article »
Goldman Sachs (NYSE:GS) Recommends Buying Low Cost Ebay (Nasdaq:EBAY) Options Before Earnings Report
With expectations the eBay (Nasdaq:EBAY) earnings report could be “volatile,” Goldman Sachs’ John Marshall and Maria Grant, equity derivatives strategists for the company, recommend buying “low cost” options as... More of this article »
Citigroup (NYSE:C) Selling Hedge Fund Business Citi Alternative Investments to Skybridge Capital
Citigroup (NYSE:C) has reportedly sold their hedge fund business – which had operated as Citi Alternative Investments – to Skybrdige Capital, the investment company launched by Anthony Scaramucci. As a result, an additional... More of this article »
Morgan Stanley (NYSE: MS) Says Bank of America (NYSE: BAC) Stock Price to Increase
Morgan Stanley (NYSE: MS) wrote in a note to clients on Tuesday that they believe Bank of America‘s (NYSE: BAC) share price will increase during the next 45 days, citing a number of catalysts which could drive gains in the company’s... More of this article »
Lending Club Announces Closing of $24.5 Million Series C Funding
Lending Club, a company which offers a peer to peer lending marketplace, announced the closing of a $24.5 million “Series C” investment round, lead by Foundation Capital and joined by existing investors including, Morgenthaler... More of this article »
JP Morgan Chase (NYSE: JPM) Posts 57 Percent Jump In Q1 Profit
JP Morgan Chase (NYSE: JPM) announced Wednesday morning first quarter profits jumped 57 percent led by robust revenue growth at its investment banking unit. The bank said it earned $3.3 billion or 74 cents a share in the first quarter,... More of this article »
Ambac (NYSE: ABK) Falls Sharply on JPMorgan (NYSE: JPM) Note, Jim Cramer Says Buy
Ambac (NYSE: ABK) saw a significant surge in its share price, rising by as much as 50% during trading on Tuesday, but declined significantly after JPMorgan (NYSE: JPM) said that Ambac’s common equity shares have “no value.” Ambac... More of this article »
Wells Fargo (NYSE: WFC) and Credit Suisse (NYSE:CS) to Manage $150 Million Debt Sale
Wells Fargo Securities (NYSE: WFC) and Credit Suisse Group AG (NYSE:CS) are set to be the two joint book-runner managers in Worthington Industries Inc’s (NYSE: WOR) sale of $150 million in debt. The senior-level notes will be due... More of this article »
Technical’s May Indicate Decline in Citigroup (NYSE: C) Share Price
Citigroup Inc Shares (NYSE: C) closed down by $0.02 or -0.43% on Tuesday, despite seeing 596 million shares of the company’s stock trading hands during the day. Citigroup had what some in the investment world would refer to as... More of this article »
Citigroup (NYSE: C) to Undergo Major Restructuring, Reduce Assets
Citigroup (NYSE: C) CEO Vikram S. Pandit said that Citi is undergoing a significant restructuring and reduce its assets by as much as 40%. The New York-based bank is hoping to return to its roots and focus on natural growth from its... More of this article »
Bank of America (NYSE:BAC), Wells Fargo (NYSE:WFC) and JPMorgan Chase (NYSE:JPM) Extremely Vulnerable to HELOCs
Based on the conclusion of one of the top research firms, CreditSights Inc., Bank of America (NYSE:BAC), Wells Fargo (NYSE:WFC) and JPMorgan Chase (NYSE:JPM) could be slammed by home equity line of credit (HELOC) loans this year, having... More of this article »
Bank of America (NYSE:BAC) Mortgage Picture Not Looking Pretty Says President of Home Loans
In her testimony before the House Financial Services Committee today, which assembled to find out where the bank is in regard to modifying mortgages in trouble, president of Bank of America Home Loans, Barbara Desoer, didn’t... More of this article »
Citigroup (NYSE:C) Says U.S. Dollar Could Drop Against Euro, British Pound
Citigroup (NYSE:C) technical analyst Aron Gera says the U.S. dollar will probably fall against the euro and British pound, based on emerging technical patterns. That’s an interesting insight in that the euro and pound have been,... More of this article »
Citigroup (NYSE: C) Sends Fidelity National Information Services (NYSE: FIS) Shares Up After Initiating Coverage
Citigroup (NYSE: C) sent shares of Fidelity National Information Services (NYSE: FIS) up 1.1% for the day after the New York-based bank initiated coverage on the company. Citi’s analyst wrote, “In addition to the attractive... More of this article »