Archive for May, 2010
Citigroup Stock Has Affordable Valuation, Despite Broader Market Woes (NYSE: C)
Citigroup‘s (NYSE: C) share price has taken a beating since its recent mid-April highs of near $5.00 and is now trading down near $3.75, representing a 25% decline in value. Some investors believe that the market became a bit too bullish when the government announced it would divest itself from Citigroup, but the real drag [...]
SmartyPig Savings Account Moves to Tiered Interest Rates
SmartyPig, a company which offers a goal based online savings account, increased their interest rates for customers that have account balances of under $50,000 to 2.15% last week. The Des Moines, IA-based company will now be offering two tiers to its savings accounts. Customers with balances under $50,000 will earn one of the best interest [...]
American Banking News Twitter Updates for the Week of 2010-05-23
In Tough Stance, Democrat Finds Few Allies – New York Times http://tinyurl.com/2dy9qlw #Econ # Greek leader considers action against US banks – The Associated Press http://tinyurl.com/2bandcy #Econ # Euro Falls to Lowest Since April 2006 on European Debt Crisis – BusinessWeek http://tinyurl.com/27y6ath #Econ # ANZ Bank Completes Acquisition Of RBS Businesses In Singapore – Wall [...]
Shares Of JP Morgan (NYSE: JPM), Bank Of America (NYSE: BAC) Jump On Bank Reform Approval
The financial sector jumped 3.6 percent on Friday as investors celebrated the U.S. Senate’s approval of financial reform legislation. The bill received an approval vote of 59-39, marking the first major step for the legislation after several months of debate. Banking stocks and the like jumped on the news. JP Morgan Chase (NYSE: JPM) was [...]
JP Morgan (NYSE:JPM), Goldman Sachs (NYSE:GS) and Morgan Stanley (NYSE:MS) Could Get Crushed by New Derivative Regulations
If the proposed new government regulations on derivatives remains in the financial reform bill passed on Thursday, large financial institutions like JP Morgan (NYSE:JPM), Goldman (NYSE:GS), and Morgan Stanley (NYSE:MS) could have earnings demolished by up to 20 percent, according to the banks. Assuming that’s close to being accurate, it’s going to be extremely challenging [...]
Is SEC Fraud Case Against Goldman Sachs (NYSE:GS) Just a Shakedown? $1 Billion Settlement Just a Rumor
News has been spreading that Goldman Sachs is close to reaching a $1 billion, or possibly higher, settlement with the SEC. That’s a total rumor, based on some people reading far more into a statement by Goldman CEO Lloyd Blankfein, when he said in an interview with the Economic Times concerning transactions the company made, [...]
Citigroup, Inc (NYSE: C) Issues Research note on BJ’s Wholesale (NYSE: BJ), Costco (NASDAQ: COST) and Sam’s Club (NYSE: WMT)
Citigroup, Inc (NYSE: C) analysts issued a research note on Friday discussing BJ’s Wholesale Club (NYSE: BJ) Costco (NASDAQ: COST) and Sam’s Club (NYSE: WMT), suggesting that the saturation of the discount wholesale club market is more than a decade away. Citi analyst says, “We believe the U.S. market can support 150 to 200 new [...]
Wells Fargo (NYSE:WFC) Warrants Sell For $849 Million
The U.S. Treasury is out trying to shore up its image today, as it attempted to make it look like it was saving a huge amount of money by selling their stakes in Citigroup (NYSE:C) and other companies they bailed out (even though it was based on data from March 31), while also announcing the [...]
Citigroup (NYSE:C) Performance Really Slashing Cost of Bailout?
It seems the announcement by the Treasury Department today that says the amount taxpayers will lose from the outrageous bailouts is far less that originally estimated, with Citigroup (NYSE:C), and other recipients of the funds, improving in share price and value, which will eliminate much of the costs, according to the government agency. Along with [...]
Wells Fargo (NYSE: WFC) Boosts Student Loan Offerings
Wells Fargo (NYSE: WFC) announced it has expanded its student lending options, launching the Wells Fargo Student Loan for Parents program. The move aims to help parents cover their students’ education costs. According to the bank, the loans have no origination, disbursement or early repayment fees. Borrowers have the option of paying interest only while [...]
Bank of America (NYSE:BAC), Goldman Sachs (NYSE:GS), JPMorgan (NYSE:JPM), Morgan Stanley (NYSE:MS) Could Get Crushed if Forced to Spin Off Swaps Desks
Now that the vote to close off debate on the huge financial regulation bill has passed by 60-40, voting on the bill will come very soon, and that raises concerns from banks like Bank of America (NYSE:BAC), Goldman Sachs (NYSE:GS), JPMorgan (NYSE:JPM) and Morgan Stanley (NYSE:MS) on whether or not the inclusion of the provision [...]
Citigroup (NYSE:C) Credit Default Swaps Continue to Rise in Basis Points and Cost
With investors increasingly concerned over the outstanding debt in the secondary market, they are now demanding higher risk premiums, which is costing Citigroup a lot more money for its credit default swaps. A credit default swap will pay the one buying it face value if a borrower defaults on the debt. They receive the cash [...]
Citigroup (NYSE:C), Goldman Sachs (NYSE:GS), Morgan Stanley (NYSE:MS), Bank of America (NYSE:BAC), Getting Crushed Under the Weight of Reality
The EU sovereign debt issue will remain on the table for some time with major financial institutions like Citigroup (NYSE:C), Goldman Sachs (NYSE:GS), Morgan Stanley (NYSE:MS) and Bank of America (NYSE:BAC), are getting hit hard today, as a number of factors have come together to shake investor confidence in the economy and the banking sector in [...]
Blood in the Streets for Citigroup (NYSE:C), Bank of America (NYSE:BAC), Wells Fargo (NYSE:WFC) and JPMorgan (NYSE:JPM)
As the European sovereign debt crisis continues to unfold, it is increasingly obvious from the width and depth of the irresponsibility of all involved, that banks like Citigroup (NYSE:C), Bank of America (NYSE:BAC), Wells Fargo (NYSE:WFC) and JPMorgan (NYSE:JPM), which are getting hammered today, will suffer from the shoring up of the socialist, progressive, welfare [...]
Citigroup, Inc (NYSE: C) Chairman Richard Parsons to Take Reduced Role
Citigroup, Inc (NYSE: C) chairman Richard Parsons has taken on a reduced role at the New York-based bank after the company’s board of directors was revamped during the past year because of pressure from the government. Parker is no longer serving as the head of the board’s nomination and governance committee as of the end [...]
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