Archive for October, 2010
Citigroup, Inc (NYSE: C) Hires European Energy Analysts
Citigroup, Inc (NYSE: C) has hired three of Nomura Holding’s European energy analysts and an equity salesperson as part of an attempt to expand its coverage of gas and oil stocks. Specifically, the New York bank hired Alastair Syme, Michael Alsford, Ryan Kauppila and James Talbot from the Japanese bank. Alastair Syme will become the [...]
Downgrades from Goldman Sachs (NYSE: GS), Barclays (NYSE: BCS), and Bank of America (NYSE: BAC)
Equity researchers have the tendency to move markets, especially when they have credibility and markets remain on tenuous footing. Ahead of earnings season, the market is particularly keen to any insight that may provide forewarning to firm results. Today, Goldman Sachs (NYSE: GS) downgraded the shares of Blackrock (NYSE: BLK) from buy to neutral, following [...]
Goldman Sachs (NYSE: GS) Pessimistic on Microsoft (NYSE: MSFT)
Is Microsoft (NYSE: MSFT) too big to succeed? Goldman Sachs (NYSE: GS) may think so. Recently, Sarah Friar, a prominent researcher at Goldman, published a lengthy piece detailing the woes of Microsoft, and ultimately suggested that a drastic move is in order. The evidence is rather clear – Microsoft’s share prices have stagnated, and continuing the [...]
Citigroup, Inc (NYSE: C) to Pay $56 Million to Rivals for Underwriting Security Sales
Citigroup, Inc (NYSE: C) will pay rival firms including Bank of America Corp (NYSE: BAC), JPMorgan Chase & Co. (NYSE: JPM), Morgan Stanley (NYSE: MS), UBS AG (NYSE: UBS) and Wells Fargo & Co. (NYSE: WFC) $55.7 million for underwriting sales of $2.2 billion worth of the bank’s securities that are owned by the U.S. [...]
General Electric Signs $700 Million Water and Power Agreement with Saudi Arabia (NYSE: GE)
General Electric Co. (NYSE: GE) signed into an agreement to build a new power plant and provide wastewater treatment services to Saudi Arabia. Under the agreement, valued at more than $700 million, General Electric Co. (NYSE: GE) will provide seven 7FA-model natural-gas turbines and enter into a 2-year service contract for the Riyadh PP11 power [...]
Bank of America Announces Dividends on Preferred Stock (NYSE: BAC)
Bank of America Corp (NYSE: BAC) announced that its board of directors has authorized dividends on varying classifications of its preferred stock. Here are the list of dividends as told by the company in its press release: “A quarterly cash dividend of $0.38775 per depositary share on the 6.204 percent Non-Cumulative Preferred Stock, Series D, [...]
JPMorgan Chase & Co. (NYSE: JPM) Earnings Estimate Cut by Wells Fargo & Co. (NYSE: WFC)
JPMorgan Chase & Co. (NYSE: JPM)’s third-quarter earnings estimate was lowered by equities research analysts at Wells Fargo & Co. (NYSE: WFC) in a research note to investors on Friday. The analysts lowered their Q3 earnings per share estimates on JPMorgan from $1.16 to $0.97. The analysts also lowered their FY2010 estimate from $4.10 to [...]
Audible.com Android: Get a Free Audio Book for your Android Device
Audible.com is currently offering a free audio book to Android users using the Audible.com Android deal. If you’re the owner of an Android-powered smartphone, you can get a free audio book with a 14-day free trial to Audible.com. Audible has a number of great titles for you to consider listening to this this season. Not [...]
DOJ Files Antitrust Suit Against American Express (NYSE: AXP)
The Department of Justice filed a civil antitrust suit against American Express (NYSE: AXP) saying that the credit-card company refused to sign-on to an industry-wide agreement which would allow merchants to push customers toward cheaper forms of credit and debit cards. MasterCard and Visa both agreed to avoid a court-fight with the federal government and [...]
Citigroup, Inc (NYSE: C) and Ally Financial Accused of Falsifying Foreclosures
Citigroup, Inc (NYSE: C) and Ally Financial Inc. have been accused falsifying foreclosures on loans by conspiring with Mortgage Electronic Registration Systems Inc. in a lawsuit brought forth by a group of Kentucky homeowners. The suit, which was filed as a civil-racketeering class action in federal court, accuses banks of foreclosing on homes when they [...]
Wells Fargo & Co. (NYSE: WFC) Limits Extensions on Short Sales
Wells Fargo & Co. (NYSE: WFC) will no longer be granting more than one extension for homeowners that are trying to complete a short sale, HousingWire reports. The San Francisco-based bank said that it has been working through a number of concerns from investors related to the time that it takes to complete a short-sale. [...]
JPMorgan Chase May Boost Dividend by 45% by 2013 (NYSE: JPM)
JPMorgan Chase & Co. (NYSE: JPM) will boost its dividend next year and increase it by as much as 45% between now and 2013 as a result of the strength of its senior management team and acquisitions made during the economic downturn, reported Barron’s magazine, citing research reports from analysts. JPMorgan CEO Jamie Dimon said [...]
Credit Suisse Predicts Lower Profits for Goldman Sachs (NYSE: GS) and Morgan Stanley (NYSE: MS)
Equities research analysts at Credit Suisse AG (NYSE: CS) are predicting that both Morgan Stanley (NYSE: MS) and Goldman Sachs Group Inc. (NYSE: GS) will see lower earnings for the third quarter as a result of “challenging market conditions” and the economic impact of new financial regulations. Analysts at the company now predict that Morgan [...]
Citigroup, Inc (NYSE: C) Comments on Halting Foreclosures.
After Ally Financial, JPMorgan Chase & Co. (NYSE: JPM) and Bank of America Corp (NYSE: BAC) announced that they have halted foreclosures in a number of states to verify their foreclosure affadavits, many are wondering whether or not Wells Fargo & Co. (NYSE: WFC) and Citigroup, Inc (NYSE: C) will join their competitors in halting [...]
Goldman Sachs Group Inc. (NYSE: GS) Awards Stock to Top U.K. Employees
Goldman Sachs Group Inc. (NYSE: GS) has given some of its top London-employees millions of dollars’ worth of free stock after a decision to cap their compensation levels. The stock awards were first reported by Mark Kleinman of Sky who sourced unidentified people close to the investment bank. He said that the awards were made [...]
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