Archive for May, 2010
Citigroup (NYSE:C) Chief Economist Says EU Governments are “Wimps” in Response to Greek Sovereign Debt Bailout
Chief economist of Citigroup (NYSE:C) Willem Buiter said governements in the European Union are “wimps” because of how long it’s taking them to bail out Greece. At the Council of Foreign Relations in New York, Buiter said, “If the European area governments weren’t such wimps, they would have done it right away. It’s been a [...]
AIG (NYSE:AIG) Reportedly Chooses Citigroup Inc (NYSE:C) and Bank of America (NYSE:BAC) Over Goldman Sachs (NYSE:GS) for Restructuring Advice
AIG (NYSE:AIG) has changed course and decided to go with Citigroup Inc (NYSE:C) and Bank of America (NYSE:BAC) to advise them on restructuring the business, changing their mind on their original plan to have Goldman Sachs advise them on the matter. Two unnamed sources have said AIG met Thursday with Citigroup and Bank of America [...]
AIG (NYSE: AIG) Swings To Q1 Profit On Investment Income
American International Group (NYSE: AIG) announced Friday that it returned to a profit in the first quarter as business improved at its life insurance and retirement units. The insurer, majority owned by the U.S. government said it earned $1.5 billion or $2.16 a share, compared to a loss of $4.4 billion or $39.67 a share [...]
Primerica (NYSE: PRI) Share Price Jumps after Citigroup (NYSE: C) Divesture
Primerica Inc (NYSE: PRI), a life-insurer which was recently spun off in an IPO from Citigroup, Inc (NYSE: C) has risen significantly after the company released its first earnings report since its initial public offering. Primerica’s initial shares were sold at $15.00 each as part of its IPO, but has since risen to a mid-day [...]
Morgan Stanley (NYSE: MS) Analysts Say Invest in Visa (NYSE: V) and MasterCard (NYSE: MA)
Morgan Stanley (NYSE: MS) analyst say that both Visa Inc (NYSE: V) and MasterCard Inc (NYSE: MA) may be undervalued, even though Senate Democrats are attempting limit the fees that credit card companies can charge to merchants. Visa Inc. and MasterCard Inc. may be undervalued as U.S. Senate Democrats struggle to muster votes for legislation [...]
Citigroup, Inc (NYSE: C) Begins Investigation on 1,000 Point Dow Drop Trade
A Citigroup, Inc (NYSE: C) spokesman said on Thursday that it is investigating a rumor that one of its traders helped cause a drop of nearly 1,000 points in the Dow Jones Industrial Average by entering an erroneous trade. The New York-based bank said that it currently doesn’t have any evidence that a trade may [...]
Fox Business Interviews SmartyPig CEO
Fox Business interviewed SmartyPig CEO Bob Weinschenk, who shared that his company allows people to earn high interest on their savings goals while receiving cash back rewards when they make a purchase. Here’s the video: Watch the latest business video at video.foxbusiness.com
Banco do Brasil Stock Offering To Be Managed By Bank of America (NYSE: BAC), Citigroup (NYSE: C), BTG Pactual
Banco do Brasil announced that it has hired the local Brazilian offices of Bank of America (NYSE: BAC), Citigroup (NYSE: C), along with BTG Pactual, a Brazilian securities company, to manage its planned stock offering. Banco do Brasil, the largest bank by assets in Latin America is aiming to sell up to 15 billion reals [...]
Morgan Stanley (NYSE:MS) Downgrades Westar Energy (NYSE:WR) To Equal Weight from Overweight
Westar Energy (NYSE:WR) has become a victim of its own success, as its strong 11 percent increase in share price since the early part of March has ended with Morgan Stanley (NYSE:MS) downgrading them from equal weight to overweight, based on valuation. Westar shares have already surpassed the price target Morgan Stanley was looking for [...]
J.P. Morgan (NYSE:JPM) Invests in Microinsurance Fund LeapFrog Investments
J.P. Morgan (NYSE:JPM) is among the latest companies to invest in LeapFrog Investments, which is a microinsurance fund developed to target Asia and Africa low-income communities. They recently invested $10 million in the company for that purpose. What’s unique about LeapFrog is it’s a business model and not a charity, giving it some long-term [...]
Wells Fargo (NYSE:WFC) Upgrades Diamond Management & Technology Consultants (Nasdaq: DTPI) from Market Perform to Outperform
Diamond Management & Technology Consultants, Inc. was the recipient of an upgrade from Wells Fargo (NYSE:WFC), as the giant bank upgraded the company from market perform to outperform. Wells likes what they saw in the last quarter, as they beat analysts’ estimates handily. Diamond also increased its dividend by $0.09, with a yield of 4.2 [...]
Citigroup’S (NYSE:C) Share Price Drop Costs Treasury Over $1 Billion
Now that the trajectory of the share price of Citigroup (NYSE:C) has reversed direction and is plunging, it is close to falling below the $4 a share mark, not too long after flirting with the $5 a share mark, where some thought it would have support, and the Treasury could reap a nice windfall as [...]
Lending Club to Hold New Investor Forum on May 6th
Peer to peer lending company Lending Club will be hosting a new investor meeting on May 6th at 4:00 PM ET. According to Lending Club’s statement, “This forum will help you streamline the investing process, and become a smarter investor in just 30 minutes. The Live Investor Forum will cover information you need to make [...]
Lending Club Offering Up to 2% Cash on New Deposits from Investors
Lending Company, a firm which offers a peer to peer lending marketplace, is offering investors a cash bonus for any new money invested with Lending Club by may 26th. Lending Club will provide the following tiered bonus to investors that put in new money: deposit $2,500-24,999, Lending Club will pay you a 1% bonus on [...]
Goldman Sachs (NYSE:GS) will Re-examine Business Practices says Blankfein
In a conference call with the wealthiest customers of its private-wealth-management business, Goldman Sachs’ (NYSE:GS) CEO Lloyd Blankfein said there’s a positive outlook to the fraud charges against the company in that it has pushed the company to re-examine its business practices to “determine what we may be doing wrong.” Blankfein and other Goldman executives [...]
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