Archive for July, 2010
Intel (NASDAQ: INTC) To Invest in Game Streaming Service
Intel Corp. (NASDAQ: INTC)’s venture capital arm, Intel Capital, is making a play in cloud-based gaming through an investment Gaikai, a service which plans to stream games over the Internet beginning this summer. Gaikai’s platform, developed by company co-founders Andrew Gault and Rui Pereira , will theoretically let gamers use their web browsers to play [...]
Citigroup, Inc (NYSE: C) Hires Municipal Bond Strategist
Citigroup, Inc (NYSE: C) has hired municipal bond strategist George Friedlander as the bank’s senior U.S. municipal securities strategist. Friedlander, age 62, was dismissed by Morgan Stanley Smith Barney during the month of May and will work in Citigroup, Inc (NYSE: C)’s investment research and analysis group. He will be firm’s senior U.S. municipal securities [...]
Morgan Stanley (NYSE: MS) Tops Estimates On Strong Trading Revenue
Morgan Stanley announced Wednesday that it posted a second quarter profit following a loss in the prior year quarter. The results were driven by a 53 percent jump in revenue. The Wall Street bank and broker said second quarter earnings totaled $1.58 billion or $1.09 a share, compared to a loss of $1.26 billion or [...]
Wells Fargo (NYSE: WFC) CFO “Very Pleased” with Q2 Financial Performance
Wells Fargo (WFC) CFO Howard Atkins said management was “very pleased” with financial performance. The San Francisco-based bank reported 2nd quarter earnings on Wednesday that were well above Wall Street’s earnings expectations. Revenue came in precisely in line with forecasts. “While economic recovery in the U.S. and abroad remained uneven, Wells Fargo earned record net [...]
Requirements to take out a Loan on Lending Club
Lending Club offers three year and five year unsecured loans to qualified borrowers which are funded by other people. The company has some requirements for borrowers, but they are not necessarily as strict as what you might see when applying from a loan from a bank. Currently Lending Club requires that borrowers have a credit [...]
Bank of America Corp (NYSE: BAC) Wins 7 Euromoney Awards
Bank of America Corp (NYSE: BAC) has received seven awards from Euromoney Magazine’s “2010 Awards For Excellence” program, including Best Bank in the U.S., Best Global High Yield Bond House, Best Equity House in North America, Best Debt House in North America, Best Debt House in Japan, Best M&A House in Russia andBest Investment Bank [...]
Watchdog Says Treasury Needs to Improve Transparency with TARP Funds
Special Inspector General for TARP Neil Barofsky says that the U.S. Treasury Department needs to improve how it records negotiations with companies that have received taxpayer bailouts to ensure that the bailed-out firms are complying with the conditions set to receive aid. The Treasury Department, which manages the $700 billion Troubled Asset Relief Program, “does [...]
BP (NYSE: BP) To Sell $7 Billion in Assets to Apache Corp (NYSE:APA)
BP (NYSE: BP) has agreed to sell $7 billion worth of oil and natural gas fields in the United States and abroad to Apache Corp (NYSE: APA) in its largest-move to date to raise money to pay for reparations for the Gulf of Mexico oil spill. The company announced that it would sell its Permian [...]
Bank of America (NYSE: BAC) Loan Mods on the Rise
Loan Modification is a serious buzz term in the recent months. Leading the charge on this is the former Countrywide, now a division of Bank of America (NYSE: BAC). As one of the nation’s largest issuer of mortgages, they also stand the most to lose in foreclosures and write-offs. As such, the firm has taken significant [...]
Goldman Sachs (NYSE: GS) Earnings Disappoint
Amid the market collapse of the second quarter, Goldman Sachs (NYSE: GS) disappointed with earnings results today. Combining with the market volatility, the costly settlement reached with the SEC knocked Goldman’s earnings. The firm reported profits of just 78 cents a share, down 83% and posting the worst quarter since the financial crisis trough of [...]
Bank of America Settles with Premier Information Management, Inc.
Bank of America Corp (NYSE: BAC) and Premier Information Management, Inc. (PINKSHEETS: PIFR) have entered into a pre-jury settlement in a lawsuit between the two companies which will eventually lead to a resulted in a court ordered settlement. The settlement included a non-disclosure pact so that neither Primer Information Management of Bank of America Corp [...]
Citigroup, Inc (NYSE: C) Hires Former Goldman Sachs Group Inc. (NYSE: GS) Executive
Citigroup, Inc (NYSE: C) has hired a former Goldman Sachs Group Inc. (NYSE: GS) executive to lead its global oil trading business in Singapore. The executive, Rob Biro, will be the head of the first worldwide trading base of its kind in the city. Biro, age 42, will take on the position beginning in September, [...]
Bank of America Loan Modifications Total 650,000 (NYSE: BAC)
Bank of America Corp (NYSE: BAC) has now completed more than 650,000 loan modifications since January 2008. During the first half of 2010, Bank of America Corp (NYSE: BAC) announced that it has completed mortgage modifications for 160,000 homeowners. The Department of the Treasury will soon release a performance report on the Home Affordable Modification [...]
Goldman Sachs (NYSE: GS) Cuts Operating Expenses by 15.5%
Most investors left Goldman Sachs Group Inc. (NYSE: GS) earnings announcement disappointed this morning with second-quarter profit falling by more than 82%, but the company was buoyed by a silver lining of decreasing its operating expenses by more than 15% compared to the second quarter of 2009. The firm’s total operating expenses dropped from $8.73 [...]
Citigroup, Inc (NYSE: C) Hires New Private Banking Executive
Citigroup, Inc (NYSE: C)’s private banking division has appointed Nancy Pellegrino as the company’s new head of operations in the Pacific Northwest. Pellegrino will be based out of Settle, WA and report to Tracey Warson, Citigroup, Inc (NYSE: C) Private Bank’s west coast regional executive. She previously worked at the Bank of New York Mellon’s [...]
worst video player ever- after over2:00 there's still no video appearing 