Archive for July, 2010
Apple (NASDAQ: AAPL) Eliminates iPhone 4 Restocking Fee
Apple (NASDAQ: AAPL) has announced that it will be waiving the restocking fee for the iPhone 4 in response to the reception issues that many have seen with the device. Buyers that want to return the product can do so within 30 days of the purchase date without paying the typical $20 to $30 restocking [...]
Analysts Positive on Ford Motor Co. (NYSE: F) Debt Repayment
Ford Motor Co. (NYSE: F) announced that it’s paying down an additional $4 billion in debt to strengthen its balance sheet and analysts have taken the move as a positive development for the company. Morningstar analyst avid Whiston told Barron’s in a recent interview that “cash flow generation will significantly improve over the coming years, [...]
Bank of America (NYSE: BAC) and Morgan Stanley (NYSE: MS) Using Brokerage Units to Promote Retail Banking Services
Brokerages, such as Bank of America Merrill Lynch (NYSE: BAC) and Morgan Stanley Smith Barney (NYSE: MS) which also offer retail banking services have been working hard to promote banking and lending services to their clients in an effort to generate new revenue. Morgan Stanley (NYSE: MS) Smith Barney has hired more than 100 new [...]
Exxon Mobil (NYSE: XOM) and Shell May Consider Bidding for BP Takeover (NYSE: BP)
Exxon Mobil Corp (NYSE: XOM) and Royal Dutch Shell Plc (NYSE:RDS.A) may consider take-over bids for BP Plc (LON: BP) after the British oil company lost more than half of its market value as a result of the Gulf of Mexico oil spill, said JPMorgan’s Cazenove Ltd. Exxon Mobil has a stronger balance sheet than [...]
U.S. Treasury Completes Sale of 1/3rd of Citigroup, Inc (NYSE: C) Stock
The U.S. Treasury Department said on Thursday that it’s completed the sale of additional Citigroup, Inc (NYSE: C) stock bringing the government’s profits from the sale of the bank’s stock to more than $2 billion. In total, the Treasury Department has sold a total of 2.6 billion shares of Citigroup, Inc (NYSE: C) or about [...]
General Electric Co. (NYSE: GE) Capital Hires New Chief Risk Office
General Electric Co. (NYSE: GE)’s GE Capital unit has hired a new chief risk office (CRO) from Wells Fargo & Co. (NYSE: WFC) according to a statement made by the company on Thursday. Ryan Zanin will succeed Jim Colica in the position, who is retiring after spending more than 27 years with G.E. Zanin previously [...]
First Republic Bank Declares Independence from Bank of America Corp (NYSE: BAC)
First Republic Bank has completed a management-led buyout as Bank of America Corp (NYSE: BAC) in an effort to return to its roots as an independent San Francisco-based banks. The banks managers announced in October that they planned to purchase the company from Bank of America Corp (NYSE: BAC) with financing from provide equity firms [...]
General Motors and Ford Motor Co. (NYSE: F) Auto Sales See Declines in June
General Motors and Ford (NYSE:F) both reported June sales numbers which fell short of analysts’ estimates as wary consumers avoided large purchases during the month. General Motors U.S. sales rose by 11%, missing the 16% estimate average that Bloomberg reported. Ford sales rose by 13%, less than the 16% projection reported by Bloomberg. Many believe [...]
Citigroup, Inc (NYSE: C) Stock Sale Slowed by U.S. Treasury
The rate at which the U.S. treasury sold shares of Citigroup, Inc (NYSE: C) slowed during the month of June as Citigroup, Inc (NYSE: C) shares declined by 5.1% during a general stock market slump. Between May 27th and June 30th, the government sold 1.1 billion shares according to a statement from the U.S. Treasury [...]
Former Wachovia Exec Resigns form Wells Fargo & Co. (NYSE: WFC) Board of Directors
Former Wachovia CEO Robert Steel has resigned from Wells Fargo & Co. (NYSE: WFC)’s board of directors according to a regulatory filing filed on Friday. Steel took over Wachovia Corp in 2008 as the Charlotte-based bank headed toward failure, and later orchestrated the sale of Wachovia to Wells Fargo. In the middle of June, New [...]
J.P. Morgan Chase (NYSE: JPM) and Bank of America (NYSE: BAC) Continue to Hold Top Spots in Derivative Exposure. But What Does it Mean?
According to the Office of the Comptroller of the Currency, J.P. Morgan Chase (JPM) and Bank of America Corp. (BAC) hold $123 trillion of derivative positions. J.P. Morgan Chase holds the top spot with $76.4 trillion, while Bank of America Corp. is second with 46.6. The next two spots are held by Citibank (C) and [...]
Ford Motor Co. (NYSE: F) May Resume Dividends in 2012
Ford Motor Co. (NYSE: F) may resume dividend payouts on common stock as soon as 2012, according to data from Bloomberg. Ford recently caught up on paying dividends on preferred stock that it had missed for the last 14 months and the automaker still has to pay off more than $27 billion in debt before [...]
Citigroup, Inc (NYSE: C) To Hire 300 New Employees in Taiwan
Citigroup, Inc (NYSE: C)’s Taiwan business said on Thursday that it would be hiring more than 300 new employees by the end of the year. Citibank Taiwan Chairman Victor Kuan said that Citigroup, Inc (NYSE: C) has been in Taiwan for more than 46 years and it’s determine to create new jobs and offer more [...]
Wells Fargo & Co. (NYSE: WFC) Reduces Student Loan Rates
Wells Fargo & Co. (NYSE: WFC) has reduced the variable interest rate that student loan borrowers are being charged through its “Wells Fargo Collegiate” and “Wells Fargo Student Loan for Parents” programs. The San Francisco-based based bank is now offering student loans with interest rates as low as 3.50% for qualifying borrowers. Wells Fargo & [...]
Bank of America Corp (NYSE: BAC) Sponsors Free Museum Days in Charlotte
Bank of America Corp (NYSE: BAC) will be sponsoring free museum weekends in Charlotte as part of the bank’s “Museums on Us” initiative which provides cardholders free individual access to a select group of museums over the weekend of the fourth and every first weekend of the month through December. 2010 will mark the 13th [...]
worst video player ever- after over2:00 there's still no video appearing 