Home » Archive for April, 2010
Bank of America (NYSE: BAC) Appoints New Co-Head of Americas Credit Sales
Bank of America Merrill Lynch (NYSE: BAC) has appointed Gerry Walker as its new co-head of Americas Credit Sales with Steve Hollender. As co-heads, Hollender and Walker will jointly manage investment grade, structured credit, leveraged... More of this article »
MasterCard (NYSE: MA) Names Former Citigroup (NYSE: CE) Exec as New Head
MasterCard (NYSE: MA) has named a former Citigroup (NYSE: C) executive as the company’s new chief executive officer. MasterCard named Ajay Banga, MasterCard’s current chief operating officer, as its new CEO replacing Robert Selander.... More of this article »
Bank of America (NYSE:BAC) Downgrades Infineon to ‘Underperform’
Infineon Technologies AG, which is the No. 2 maker of computer chips in Europe, was downgraded by Bank of America (NYSE:BAC) from “Neutral” to “Underperform” today. The primary business of Infineon is supplying... More of this article »
Bank Of America (NYSE: BAC) Permanently Modified More Than 12,000 Loans Last Month
Bank of America (NYSE: BAC) announced Monday that it has permanently modified 33,000 loans through the Home Affordable Modification Program (HAMP), an increase of 12,200 since its report a month ago. The monthly increase marks the... More of this article »
Citigroup (NYSE:C) Increases Contract Size with Federated Investors (NYSE:FII) in Managed Accounts Unit
Citigroup (NYSE:C) communicated today that they have increased the size of the contract they have with Federated Investors (NYSE:FII) in the managed accounts services they provide for the company. The specific products used to expand... More of this article »
MasterCard (NYSE: MA) Names COO Ajay Banga As CEO, Succeeds Selander
MasterCard Inc. announced Monday that President and Chief Operating Officer Ajay Banga will succeed Robert W. Selander as chief executive officer on July 1. Selander, 59, will serve as executive vice chairman and on the board of directors... More of this article »
Citigroup (NYSE:C) Hired by Detroit Pistons to Value Company in Preparation for Sale
The Detroit Pistons have hired Citigroup (NYSE:C) to determine what the basketball franchise is worth in anticipation of current owner Karen Davidson selling the team. Davidson took over ownership a little over a year ago when her... More of this article »
Citigroup Cuts Dead Weight, Sets Eyes on Growth (NYSE: C)
Citigroup Inc (NYSE: C) has gotten past the financial crisis and now with the U.S. Treasury announcing plans to divest itself from the New York-based bank. Citigroup is in the process of regrouping and has ridden itself of most of... More of this article »
Manhattan Ends Middle School Program Funded by $18 Million General Electric (NYSE: GE) Grant
New York City has cancelled a middle school improvement project funded by the largest private grant to city schools in history after two years in. The $18 million grant was funded by General Electric Co. (NYSE: GE), according to a... More of this article »
Bank of America (NYSE: BAC) to Expand Corporate Banking Operations in Japan
Bank of America Corp. (NYSE: BAC) will be adding 30 new employees to its corporate-banking services unit in Japan before the end of the year, according to a new WSJ report. The hiring is part of an ongoing push by Bank of America to... More of this article »
Wells Fargo (NYSE: WFC) Set to Report First Quarter EPS of $0.42
Wells Fargo & Co. (NYSE: WFC) is expected to announce first quarter earnings per share of $0.42 on sales of $21.7 billion on April 21st, 2010, according to consensus estimates. For the entire year, analysts expect the San Francisco-based... More of this article »
Ford (NYSE: F) to Expand Brazilian Investments by $200 Million
Ford Motor Co. (NYSE: F) CEO Alan Mulally announced plans to expand its Brazilian investments by increasing funding for its “Ford Brazil” subsidiary from $2.2 billion to $2.4 billion between 2011 and 2015. The investment... More of this article »
Former Citigroup Executive Robert Rubin Hammered by FCIC (NYSE: C)
Former Citigroup Inc. (NYSE: C) Chairman Robert Rubin was scolded on Thursday during a hearing of the Financial Crisis Inquiry Commission after a heated discussion over the significant losses from mortgage-securities at Citigroup (NYSE:... More of this article »
Wells Fargo (NYSE: WFC) Raises Price Target on T. Row Price Group (NASDASQ: TROW)
Wells Fargo & Co (NYSE: WFC) analysts raised their price target range on T. Rowe Price Group (Nasdaq: TROW) from $53-56 to $56-59. The San Francisco-based bank also maintained its “market perform” rating for the company. Wells... More of this article »
Morgan Stanley (NYSE: MS) Set to Report Earnings Per Share of $0.58
Morgan Stanley (NYSE: MS) is expected to first quarter earnings per share of $0.58 on a sales total of $8.3 billion on April 20th, 2010 according to consensus estimates. For the entire year, analysts generally expect the company to... More of this article »
General Electric (NYSE: GE) Sells Two Power Plants to Venezuela, Totaling $600 Million
General Electric Co. (NYSE: GE) will be building two power plants in the country of Venezuela, which are expected to cost $600 million to produce and will generate 800 megawatts of energy, according to Basic Industries and Mining Minister... More of this article »
European Gov’t Officials Offer Greece $61 Billion Rescue Package
Saddled with debt and ever increasing borrowing costs, European finance ministers said Sunday they would offer the country up to 45 billion euros ($61 billion) in financial loans at below market interest rates. The move comes after... More of this article »
Citibank (NYSE: C) Expands Indonesia Operations
Citibank (NYSE: C) has expanded its Indonesian operations by opening a new branch in Tanah Abang. With the latest expansion, Citibank will now have 21 branches, 71 loan centers and 105 ATM machines in throughout six major cities in... More of this article »
Citibank (NYSE: C) Japan to Launch “Smart Banking” Retail Branches
Citibank’s (NYSE: C) Japanese unit will be opening two new branches in suburbs of Tokyo on April 12th which will introduce the idea of “smart banking” to the country. The branches which will open next week are full-service... More of this article »
Alcoa (NYSE: AA) CEO Receives “Ripples of Hope Award” from City Year New York.
Alcoa (NYSE: AA) has announced that the company’s CEO, Klaus Kleinfeld, has received the 2010 Ripples of Hope Award from City Year New York. Kleinfeld was presented the away at a gala which included more than corporate, community... More of this article »
Citibank (NYSE: C) Named America’s “Greenest Bank”
Citibank (NYSE: C) has been named “America’s Greenest Bank” according to a new ranking from Banking Technology News. Citigroup’s global sustainable IT initiative is one of the primary reasons that the bank was included... More of this article »
Alcoa (NYSE: AA) Set to Report $0.10 Earnings Per Share
Alcoa (NYSE: AA) will releases its first quarter results on Monday and analysts are expecting that the company will report earnings of 10 cents per share, according to those surveyed by Thomson Reuters, although others have lowered... More of this article »
Alcoa (NYSE: AA) Earnings Report May Mark Beginning of Strong Earnings Season
Alcoa (NYSE: AA) is set to begin the first quarter earnings season on Monday and analysts are confident that Alcoa, along with other companies on the S&P 500, will be able to easily beat their Q1 2009 numbers. The first quarter... More of this article »