Home » Archive for May, 2010
Prosper Marketplace Resolves Some Issues Related to Loan Service Platform Migration
Prosper.com, a company which operates a peer to peer lending marketplace, went through a migration to a new loan servicing platform in early May, leaving many users of the website frustrated by errors that impacted features on Prosper’s... More of this article »
Canaccord Adams Analysts Lower Price Target on Royal Bank of Canada (NYSE: RY)
Canaccord Adams analysts reiterated a ‘Buy’ rating on Royal Bank of Canada (NYSE: RY), but lowered their price target to $65 CAN. Canaccord Adams analysts wrote, “We are lowering our 2010E and 2011E EPS to $4.22 (from... More of this article »
Bank Of America (NYSE: BAC) Reports First Year Results Of $1.5 Trillion Community Lending Program
Bank of America (NYSE: BAC) announced yesterday the status of its 10-year $1.5 trillion community development lending program. The program recently passed the 1- year mark and has thus far provided $168.2 billion in community development... More of this article »
Wells Fargo (NYSE:WFC), Bank of America (NYSE:BAC), JPMorgan (NYSE:JPM) Citigroup (NYSE:C), Goldman Sachs (NYSE:GS) and Morgan Stanley (NYSE:MS) Slammed After Spain’s Debt Dowgraded
The Dow has given up its gains for the week, and financial stocks like Wells Fargo (NYSE:WFC), Bank of America (NYSE:BAC), JPMorgan (NYSE:JPM) Citigroup (NYSE:C), Goldman Sachs (NYSE:GS) and Morgan Stanley (NYSE:MS) are all down on... More of this article »
Citigroup (NYSE:C), Goldman Sachs (NYSE:GS) Swaps Rise as U.S. Corporate Credit Risk Surges
Credit swaps for Citigroup (NYSE:C) and Goldman Sachs (NYSE:GS) rose in May, with swaps for Goldman increasing 3.9 basis points to 170.8 basis points, and Citigroup swaps grew 2.7 basis points to 173.4 basis points. Buyers of credit... More of this article »
Berkshire Hathaway’s (NYSE: BRK-B) Warren Buffett Subpoenaed By FCIC
The Financial Crisis Inquiry Commission (FCIC) has subpoenaed Berkshire Hathaway (NYSE: BRK-B) CEO Warren Buffet after the highly regarded investment guru turned done two invitations to testify before the Committee. The FCIC first... More of this article »
Waves of Criticism Keeps Rolling In for Citigroup (NYSE: C), JPMorgan (NYSE: JPM), Bank of America (NYSE: BAC) and Others
Recently, there have been grass root attempts at punishing the ‘big bad banks’. Arianna Huffington has been striving to implore savers to move deposits out of them and into local community banks. While supporting local... More of this article »
Analyst Says Goldman Sachs (NYSE:GS) Could Pay $621 Million to Settle SEC Fraud Suit
Sanford C. Bernstein & Co. analyst Brad Hintz said in a note to clients today that Goldman Sachs (NYSE:GS) could pay $621 million to make the SEC fraud charges against them go away. Hintz said the fine would be $250 million, and... More of this article »
American Express (NYSE: AXP) Jumps On Analyst Upgrade
Shares of American Express (NYSE: AXP) jumped more than 4 percent on Thursday following an analyst upgrade to the stock by financial advisory firm Sandler O’Neil. The firm upgraded the stock to buy from hold, citing value after the... More of this article »
Is Citigroup (NYSE:C) Better Than a $4 Stock?
Even though Citigroup (NYSE:C) and others with vested interest in them would like to believe they’re better than a $4 stock, I don’t think at this time that is the case, and in the short term it is doubtful they’ll... More of this article »
Bill Ackman Acquires Citigroup 150 Million Citigroup (NYSE:C) Shares
Bill Ackman is a well-known activist investor, and manages Pershing Square Capital Management, a large hedge fund, announced yesterday at a conference that he has acquired about 150 million shares of Citigroup (NYSE:C) over the last... More of this article »
How to Get the Lowest Interest Rate When Borrowing from Prosper.com
Prosper.com, a company which offers a peer to peer lending marketplace, allows borrowers to take out unsecured loans from other members of the website using a reverse Dutch auction. As a borrower, you post how much money you want to... More of this article »
Peer to Peer Lending with Collateral: The Next P2P Financial Innovation?
Auxmoney, a German peer to peer lending website, is now allowing borrowers to offer their vehicles as a form of collateral for their peer to peer loans. Users on the website pay a EUR 9.95 fee to document the collateral in the loan... More of this article »
How Much is a Security Blanket worth for Bank of America (NYSE: BAC), Citigroup (NYSE: C), and Wells Fargo (NYSE: WFC)?
How much is a security blanket worth? Perhaps, billions. The nations largest banks have long operated with a safety net, and during the financial crisis that net became even stronger and more obvious. The banks were deemed too big... More of this article »
Bank Of America (NYSE: BAC) Global Wealth President Staying Put, Merrill Pay Structure To Remain Same
Bank of America’s (NYSE: BAC) global wealth unit president Sallie Krawcheck said she has no plans to leave the company and that the pay structure for the bank’s Merrill Lynch financial advisors is not set to changes, according... More of this article »
Citigroup (NYSE:C), Bank of America (NYSE:BAC), Deutsche Bank (NYSE:DB) Worst at Removing Debt Off Books
A report from the Wall Street Journal states that based on data gathered from the Federal Reserve, Citigroup (NYSE:C), Bank of America (NYSE:BAC) and Deutsche Bank (NYSE:DB) are the worst offenders for removing debt from their books... More of this article »
Citigroup (NYSE:C) Bullish on Emerging Markets
Several Citigroup (NYSE:C) executives stated recently they’re very bullish on emerging markets, and valuations should be attractive based on a variety of factors related to growth. David Ratliff, MD & Head-Investor Sales... More of this article »
Citigroup (NYSE:C) Settles Cemetery Case for $1.5 Million
Citigroup (NYSE:C) agreed to pay $1.5 million to settle the case where they were accused of not properly supervising employees who were under suspicion over mishandling trust fund of cemeteries located in Tennessee and Michigan, by... More of this article »
Citigroup (NYSE:C), Bank of America (NYSE:BAC) Up Six Times by 2015 Says Dick Bove
Rochdale Securities analyst Dick Bove has been giving bank stocks a lot of love lately, and among the largest banks, he sees Citigroup (NYSE:C) and Bank of America (NYSE:BAC) exploding by six times what they are today by 2015. In a... More of this article »
Citigroup (NYSE:C), Bank of America (NYSE:BAC), Goldman Sachs (NYSE:GS), JPMorgan (NYSE:JPM) and Morgan Stanley (NYSE:MS) Being Forced to Lend to Failing ShoreBank?
Another political scandal is brewing in connection to the outrageous and controversial bailout of Chicago’s ShoreBank by Citigroup (NYSE:C), Bank of America (NYSE:BAC), Goldman Sachs (NYSE:GS), JPMorgan (NYSE:JPM), Morgan Stanley... More of this article »
Morgan Stanley (NYSE: MS) To Hold Investment Symposium For Domestic Partners
Morgan Stanley (NYSE: MS) announced Tuesday that in conjunction with the Gay & Lesbian Alliance Against Defamation (GLAAD), the Williams Institute – UCLA School of Law and The Principal Funds, it will host a private reception... More of this article »
Is Goldman Sachs (NYSE:GS) Too Optimistic for Citigroup (NYSEC), J.P. Morgan (NYSE:JPM) and Bank of America (NYSE:BAC)?
Goldman Sachs (NYSE:GS) upgraded Citigroup (NYSEC) from “neutral” to “buy,” while maintaining buy ratings on J.P. Morgan Chase (NYSE:JPM) and Bank of America (NYSE:BAC). In light of the current economic conditions,... More of this article »
Citigroup (NYSE:C): Perfect Storm for Double-dip Recession
Citigroup (NYSE:C) Michael Hart stated what everyone is thinking, and that is we’re approaching a perfect storm which could bring about a ‘double-dip’ recession. Hart said, “The eurozone sovereign crisis, a worldwide regulatory... More of this article »