Home » Archive for May, 2010
George Soros Sells Citigroup (NYSE:C) Stake, Increases Holdings in J.P. Morgan (NYSE:JPM)
George Soros has had enough of Citigroup (NYSE:C), and via his Soros Fund Management, he pretty much liquidated his position in the bank which had been performing strongly in the first quarter, but obvious fundamentals didn’t... More of this article »
Paulson & Co. Add To Bank of America (NYSE: BAC) Stake
Billionaire hedge fund manager John Paulson added to his Bank of America (NYSE: BAC) stake in the first quarter, according to a regulatory filing. His fund, Paulson & Co, added about 16.7 million shares for a total stake of 167.8... More of this article »
Goldman Sachs (NYSE:GS) Says Equities More Bullish than Credit Markets
Goldman Sachs (NYSE:GS) released a report today saying the equity market for companies in the S&P 500 are considered more bullish this weak, after markets viewed them as bearish last week. Suggestions from Goldman were investors... More of this article »
Citigroup (NYSE:C) Says Concerns over EU Debt Moving from Costs to Growth
The initial concerns over the bailing out the irresponsible spending of countries in southern Europe were costs of doing so, but according to Citigroup (NYSE:C), that has now changed to how much effect it will have on growth. Coupled... More of this article »
Bank of America’s (NYSE:BAC) Overdue Credit Card Loans Fall in April
Credit card loans for customers of Bank of America (NYSE:BAC) dropped to their lowest levels since November 2008, making Bank of America the top bank in that segment. The bank said the reasons for the improvement were because of tax... More of this article »
Credit Swap Costs Rising, Will Affect Citigroup (NYSE:C), Goldman Sachs (NYSE:GS), Others
Concerns over increasing regulations for the banking industry has the cost of credit default swaps rising, which not only could affect banks like Citigroup (NYSE:C) and Goldman Sachs (NYSE:GS), but is already increasing the cost of... More of this article »
U.S. District Judge Kevin Castel Assigned to Bank of America Corp. (NYSE: BAC) Cases – Including Merrill Lynch & Co. Takeover
The Wall St. Journal is reporting that U.S. District Judge Kevin Castel will preside over the 15 pending civil shareholder cases involving Bank of America Corp. (BAC). The most prominent of these cases currently before the U.S. district... More of this article »
Senate Majority Leader Harry Reid Met with Bank of America (NYSE: BAC) CEO
Senate Majority Leader Harry Reid (D-NV) met with Bank of America (NYSE: BAC) CEO Brian Moynihan after his disgruntled constituents who have had trouble getting loan modifications completed with the Charlotte, NC-based bank asked for... More of this article »
Capital One (NYSE: COF) Reports Lower Credit Card Defaults In April
Credit card defaults at Capital One Financial Corp (NYSE: COF) fell in April as consumers continue to steady their debt loads in a rebounding economy. The credit card company said its net charge off rate in April dipped to an annualized... More of this article »
Wells Fargo (NYSE: WFC) To Double Down on Marketing to Former Wachovia Customers
Wells Fargo & Co. (NYSE: WFC) told investors on Thursday that it would focus on growth by starting to sell more of its services to former customers of Wachovia, which it had acquired at the end of 2008. Wells Fargo CFO Howard Atkins... More of this article »
Ohio Agencies Accuse Bank of America (NYSE: BAC) of Influencing Judge Selections in Civil Lawsuits
Bank of America Corp (NYSE: BAC) sent a letter to the U.S. District Court asking that 15 civil shareholder lawsuits against the company which were pending to be heard by Judge Jed Rakoff, who famously belittled Bank of America in... More of this article »
Wells Fargo & Co. (NYSE: WFC) to Close Three Branches in Dallas County, IA
Wells Fargo & Co. (NYSE: WFC) announced that it will be closing three branches in Dallas County, IA citing a lack of business to keep the branches going. “We consistently look at the needs of our customers,” commented Wells... More of this article »
Prosper.com Customer Service Quality Declines After Platform Upgrade
Prosper.com, a company which offers a peer to peer lending marketplace, has suffered notable customer service setbacks after receiving its “Series D” round of funding last month. Some of the problems that Prosper.com is... More of this article »
Lending Club and Peer to Peer Lending Covered by Los Angeles ABC Affiliate
The fledgling peer to peer lending industry has gained some additional press coverage this week with a feature from KABC-TV, Los Angeles’ ABC affiliate, which ran a story that featured a Lending Club borrower that took out a... More of this article »
Goldman Sachs (NYSE: GS) To Stop Prop Trading CLO Debt
Goldman Sachs (NYSE: GS) plans to stop its proprietary trading of collateralized loan obligations (CLOs), according to recent reports. The Wall Street bank, which has recently been investigated by regulators over its practices in... More of this article »
Citigroup (NYSE:C), Bank of America (NYSE:BAC),JP Morgan (NYSE:JPM), Goldman Sachs (NYSE:GS) and Morgan Stanley’s (NYSE:MS) Exposure to European Crisis
It hasn’t taken more than few days after the announcement that the European Union would be bailing out the socialist, welfare states of the region, when it is being increasingly realized that this is another way of saying we’re... More of this article »
Richard Bove Downgrades UBS (NYSE:UBS) and Credit Suisse (NYSE:CS) as Europe Deteriorates
Rochdale Securities banking analyst Richard Bove downgraded UBS (NYSE:UBS) and Credit Suisse (NYSE:CS) from “Buy” to “Neutral,” based solely on the deteriorating economic situation in Europe. Both banks were... More of this article »
Citigroup (NYSE:C) Plunges Below $4 A Share on EU Sovereign Debt Crisis
The fallout from the decision to offer almost $1 trillion to the socialist, welfare nations of southern Europe is hitting stocks hard today, as Citigroup (NYSE:C) has fallen below $4 a share, and about 12 stocks are falling for every... More of this article »
Mortgage Rates Hit Yearly Low, Says Freddie Mac (NYSE: FRE)
The average rate on a 30-year fixed mortgage fell to its lowest level all year during this week, according to Freddie Mac (NYSE: FRE). The average rate on the fixed rate home loan was 4.93 percent, down from 5 percent a week ago. ... More of this article »
Morgan Stanley (NYSE:MS), Credit Suisse (NYSE:CS) Concerned Over EU Inflation
As investors have digested the implications of the bailout package of close to $1 trillion for the irresponsible spending by the countries in southern Europe, Morgan Stanley (NYSE:MS) and Credit Suisse (NYSE:CS) have rightly noted... More of this article »
Bank of America (NYSE:BAC) Says April Best Month for Permanent Mortgage Modifications
The original HAMP mortgage modification program was a disaster, as the required paperwork demanded by the government completely hindered the purpose of HAMP. After changes though, Bank of America (NYSE:BAC) says things are improving... More of this article »
Andrew Cuomo Investigating Citigroup (NYSE:C), Goldman Sachs (NYSE:GS), Morgan Stanley (NYSE:MS), Bank of America (NYSE:BAC), others, Over “Misleading” Ratings Agencies
Andrew Cuomo has initiated another investigation, this time into eight banks, which include Citigroup (NYSE:C), Goldman Sachs (NYSE:GS), Morgan Stanley (NYSE:MS), Bank of America (NYSE:BAC), UBS, Deutsche Bank, Credit Agricole and... More of this article »
AIG (NYSE:AIG) Putting Microscope on Goldman Sachs (NYSE:GS) Over CDOs During Financial Crisis
At its annual meeting, AIG (NYSE:AIG) Chief Executive Officer Robert Benmosche said they have their legal team going over the dealings the company had with Goldman Sachs (NYSE:GS) and others with CDOs during the financial crisis, which... More of this article »