Archive for July, 2010
Citigroup, Inc (NYSE: C) Cuts Growth Forecast for U.S. and China
Citigroup, Inc (NYSE: C) analysts reduced its growth forecast for China to 9.5% for all of 2010, down from the firm’s previous estimate of 9.6% and reduced its estimate on the U.S. from 3.2% to 2.8%. The report said that China’s economy will likely grow at 8.8% in 2011 instead of its previous estimate of [...]
McDonald’s (NYSE: MCD) Posts Strong Q2 Earnings As Sales Rise Worldwide
McDonald’s (NYSE: MCD) posted a 12 percent rise in second quarter earnings as sales were strong worldwide, with Australia and China leading the way. The fast-food giant said quarterly earnings were $1.23 billion or $1.13 a share, up from $1.09 billion or 98 cents a share in the second quarter last year. Revenue totaled $5.95 [...]
U.S. Treasury Department Confirms Planned Sale of 1.5 Billion Shares of Citigroup (NYSE:C) Common Stock
The U.S. Treasury Department today announced that it will make a pre-arranged sale of Citigroup (C) common stock. This is the third such sale Treasury has conducted since taking a 27% stake in Citigroup through the Troubled Asset Relief Program. Morgan Stanley will act as Treasury’s sales agent and will have discretionary authority to sell [...]
Lending Club: What Types of Loans Are Available to Borrowers
If you’re hoping to get an unsecured loan or a personal loan, Lending Club might be a great way to get a better interest rate than what you would have gotten from a bank. Many have also used Lending Club loans as consolidation loans to get a better interest rate on their debt than what [...]
Bank of America Corp. (NYSE: BAC) and Goldman Sachs (NYSE: GS) Make Different Public Statements to Address Private Equity Exposure
The Wall Street Journal is reporting that Bank of America Corp. (BAC) is in the process of selling on the secondary market $1.2 billion in commitments made to funds managed by Warburg Pincus LLC, according to several people familiar with the transaction. The sale is part of an ongoing effort by the bank to reduce [...]
General Motors to Re-Establish In-House Lending Arm
General Motors, in a move to reestablish an in-house lending arm after selling off GMAC in 2006, said that it has agreed to purchase AmeriCredit for $3.5 billion in cash. The deal, General Motor’s first since emerging from a short government-sponsored bankruptcy last year, came after months of deliberations by the auto maker about how [...]
Citigroup (NYSE: C) Australia Head Bets Job on Top Three Ranking
Citigroup, Inc (NYSE: C)’s top executive in Australia, Stephen Roberts, has put his job on the line by winning a top-three domestic ranking in Australia during the next two years. “If I’m not in that position in 2012, I won’t be here,” Roberts, who is the country officer for Australia and head of markets and [...]
Bank of America Corp (NYSE: BAC) To Sell $1.2 Billion in Fund Commitments
Bank of America Corp (NYSE: BAC) is working on selling $1.2 billion in commitments made to funds managed by Warburg Pincus LLC on the secondary market as part of an ongoing effort by the Charlotte-based bank to reduce its private equity exposure, according to reports from the Wall Street Journal and the New York Times, [...]
Ford Motor Co. (NYSE: F) Cancels Bond Deal Because of Financial Reform Legislation
Ford Motor Co. (NYSE: F)’s financing division has cancelled plans for a new sale of debt, in what some consider the first shot across the bow to the bond market since the signing of the financial reform regulation. The Wall Street Journal, citing bond market participants, reported that Ford Motor Co. (NYSE: F) cut the [...]
General Electric Co. (NYSE: GE) Wins $16 Billion in Equipment and Service Deals
General Electric Co. (NYSE: GE) earned more than $16.1 billion in equipment and service deals during the first three days of the Farnborough Air Show as industry demand rebounds. Out of the $16 billion total, $3 billion came via an order from Emirates from an order for Boeing’s 777-ERs, which make use of the GE90 [...]
KeyCorp (NYSE: KEY) CEO Sounds Cautiously Optimistic Tone; Reports First Quarterly Profit in 2 Years
KeyCorp (KEY) reported its first quarterly profit in two years. The Cleveland-based banking company attributed the positive report to fewer non-performing loans, more income from fees and better cost controls. “These results are encouraging and the return to profitability represents an important step forward for our company,” CEO Henry L. Meyer III said. “Continued improvement [...]
Morgan Stanley (NYSE: MS) Hires Top Advisor from First Allied Securities
Morgan Stanley (NYSE: MS) Smith Barney has hired an adviser from First Allied Securities who generated more than $3 million worth of annual fees and commissions, the company confirmed on Tuesday. Laurence Braunstein has joined Morgan Stanley Smith Barney’s office on East 52nd Street in New York City. He previously spent nearly seven years working [...]
British PM Cameron to meet with Leaders of Citigroup (NYSE: C), JPMorgan Chase (NYSE: JPM), Goldman Sachs (NYSE: GS) and Others
While most attention is paid to the financial crisis in the US, the global recession’s impact on the U.K. has also been deep and severe. David Cameron, British Prime Minister, will meet with leaders of New York’s financial sector to discuss regulation, while also encouraging further investment in Britain. It may be a tough [...]
Wells Fargo (NYSE: WFC) Beats Earnings Estimates On Lower Loan Losses
In the latest round of earnings season, Wells Fargo & Co (NYSE: WFC) posted higher than expected quarterly earnings. The fourth largest US bank was buoyed by declining losses on commercial and consumer loans, a similar story echoed by competitors Citigroup (NYSE: C), JPMorgan Chase (NYSE: JPM), and Bank of America (NYSE: BAC). It [...]
Sprint Nextel (NYSE: S) Completes $750 Million Spectrum Clearing Project
Sprint Nextel (NYSE: S) has announced that it has completed a five-year, $50 million project to clear wireless spectrum for the national broadband Internet plan. Sprint said that it had more than 1,000 engineers, technicians, tower climbers and laborers worked to replace antiquated microwave and other equipment with more than 100,000 pieces of high-performing equipment [...]
worst video player ever- after over2:00 there's still no video appearing 