Home » Archive for August, 2010
Bank of America (NYSE: BAC) and Capital One (NYSE: COF) “Most Upfront” About Credit Card Fees
Bank of America Corp (NYSE: BAC) and Capital One Financial (NYSE: COF) were ranked as being the most up-front about fees and rewards on their credit cards, according to a study by credit card research group CardHub. Capital One and... More of this article »
Wells Fargo & Co. (NYSE: WFC) Must Pay $203 Million in Restitution for Overdraft Fees
A federal judge ordered Wells Fargo & Co. (NYSE: WFC) on Tuesday to pay California customers $203 million in restitution for claims that it had manipulated transactions to maximize the amount of overdraft fees that it could charge. Wells... More of this article »
Wells Fargo (NYSE: WFC) Gives $500,000 Grant to Washington University
Wells Fargo & Co. (NYSE: WFC) gave a $500,000 gift to Washington University in St. Louis, IL to fund scholarships and internships for undergraduate business school students, Bloomberg reported. The majority of the gift ($400,000)... More of this article »
Goldman Sachs (NYSE: GS) Hires Morgan Stanley (NYSE: MS) Executive to Run Financial Institutions Group
Goldman Sachs Group Inc. (NYSE: GS) announced that it has hired Michael Wise, a veteran of Morgan Stanley (NYSE: MS), to manage its financial institutions group, the Wall Street Journal reported. Wise previously worked at Morgan Stanley... More of this article »
Citigroup, Inc (NYSE: C) Expected to Issue $6 Billion Additional Long Term Debt
Citigroup, Inc (NYSE: C) said in a filing with the SEC that it plans to issue $3 billion to $6 billion in additional long-term debt than it had previously estimated this year. The firm said in a regulatory filing that it now expects... More of this article »
Barclays Cuts Price Target on Hewlett-Packard (NYSE: HPQ)
Barclays analysts cut their price target on shares of Hewlett Packard (NYSE: HPQ) from $60.00 to $55.00 as the company CEO Mark Hurd steps down The firm said that interim CEO Cathie Lesjak should buy back stock. Barclays reiterated... More of this article »
Morgan Stanley (NYSE: MS) Downgrades Johnson & Johnson (NYSE: JNJ)
Morgan Stanley (NYSE: MS) analysts downgraded shares of Johnson & Johnson (NYSE: JNJ) from “equal weight” to “overweight” citing lower pharmaceutical growth and fewer leverage opportunities. Johnson & Johnson is engaged... More of this article »
Bank of America Corp (NYSE: BAC) Upgrades Hatters Financial (NYSE: HTS)
Bank of America Corp (NYSE: BAC)’s Merrill Lynch division upgraded shares of Hatters Financial (NYSE: HTS) from “neutral” to “underperform” citing interest rate improvements which will support a more constructive near-term... More of this article »
Qatar May Back Out of $6 Billion Petrochemicals Complex with Exxon Mobil (NYSE: XOM)
Qatar agreed to jointly build a $6 billion petrochemicals complex with Exxon Mobil Corp. (NYSE: XOM) in January, however, the country said that it may choose a different partner for the project, according to an official at Qatar’s... More of this article »
New York Attorney General Expands Health-Care Credit Probe to JPMorgan (NYSE: JPM), Citigroup (NYSE: C) and General Electric (NYSE: GE)
New York Attorney General Andrew Cuomo has subpoenaed JPMorgan Chase & Co. (NYSE: JPM)’s “Chase Health Advance” and Citigroup, Inc (NYSE: C)’s “Citi Health” as part of his ongoing investigation of health care credit... More of this article »
Google (NASDAQ: GOOG) to Introduce “Street View” in Germany
Google (NASDAQ: GOOG) announced that it will introduce its “Street View” feature in Google Maps in the country of Germany before the end of the year. The service, which provides a street level view of a city, has been controversial... More of this article »
Ford Motor Co. (NYSE: F) Receives $250 Million Loan Guarantee
Ford Motor Co. (NYSE: F) won approval of a $250 million working capital and loan guarantee from the Export-Import Bank of the United States. The newly approved loan facility will finance approximately $3.1 billion worth of export sales... More of this article »
Bank of America Corp (NYSE: BAC) Could Add $13 Billion in Book Value from China Construction Bank Holding
Bank of America Corp (NYSE: BAC) said on Monday that it could add as much as $13 billion to its overall book value as the lock-up period on its 11% stake in China Construction Bank will expire in less than 12 months. According to a... More of this article »
Overdraft Reform to Cost Wells Fargo & Co. $500 Million This Year (NYSE: WFC)
Wells Fargo & Co. (NYSE: WFC) said on Monday that new federal regulation to limit overdraft fees will reduce its 2010 revenue by about $500 million from losses during the second half of the year alone. The Federal Reserve moved... More of this article »
Citigroup, Inc (NYSE: C) Hires Several New Asian Executives
Citigroup, Inc (NYSE: C) announced on Monday that it has appointed a number of new executives for its Asia business, including PJ Anderson as the company’s new global head of pan-Asian derivatives and convertible sales as part of... More of this article »
Jim Cramer says Citigroup, Inc (NYSE: C) Stock Heading “Substantially Higher”
Mad Money host Jim Cramer said on the “Mad Money Lightning Round” segment of his show on Thursday that he believes Citigroup, Inc (NYSE: C)’s stock will be heading substantially higher during the next 12 months. Specifically,... More of this article »
Bank of America Corp (NYSE: BAC) Hires Citigroup, Inc (NYSE: C) Investment Banker
Bank of America Corp (NYSE: BAC) has hired former Citigroup, Inc (NYSE: C) investment banker Chad Holm. Holm, who previously served as an investment banker for Citigroup, Inc (NYSE: C) to financial companies including NYSE Euronext... More of this article »
Ford Motor Co. (NYSE: F) to Create 2,000 New Union Jobs
Ford Motor Co. (NYSE: F) said that it plans to create 2,000 union jobs which had previously been outsourced to supplies. The new total is about 25% higher than Ford had previously agreed to pay to bring back in-house during its negotiations... More of this article »
Judge Denies Dismissal of JPMorgan Chase & Co. (NYSE: JPM) Suit
A U.S. District Court judge has denied a judge made by two former bankers at JPMorgan Chase & Co. (NYSE: JPM) to dismiss a suit from the Securities and Exchange Commission, which alleged that the bankers participated in a pay-to-play... More of this article »
Kuwait Appoints Citigroup, Inc (NYSE: C) to Privatize Kuwait Airways
Kuwait has brought on Citigroup, Inc (NYSE: C), Ernst & Young, and Seabury, an aviation service firm, to handle the privatization of the country’s national carrier, Kuwait Airways. State news agency KUNA quoted a state committee... More of this article »
Wells Fargo & Co. (NYSE: WFC) to Hire 250 Workers in Alabama
Wells Fargo & Co. (NYSE: WFC), which owns Wachovia Bank, said that it plans to create 50 new jobs in the state of Alabama more than it had anticipated earlier in the year for a total of 250 new positions. San Francisco-based Wells... More of this article »
New York Attorney General to Investigate General Electric Co. (NYSE: GE)’s CareCredit
General Electric Co. (NYSE: GE)’s CareCredit is being invested by New York Attorney General Andrew Cuomo for allegedly misleading customers on the terms of its healthcare credit cards, reported the Rochester Democrat and Chronicle. Cuomo... More of this article »
Delphi Financial Group, Inc. (NYSE: DFG) to Redeem $50 Million in Senior Notes
Delphi Financial Group, Inc. (NYSE: DFG) announced on Monday that it would offer to redeem $50 million worth of aggregate principal of 8.00% of its senior notes which are due in 2033 on September 21st, 2010. Here’s the press release: Delphi... More of this article »