Home » Archive for January, 2010
Goldman Sachs Group (NYSE:GS) Converting $1.09 Billion of Preferred Shares in Sumitomo Mitsui Financial Group
Goldman Sachs Group (NYSE:GS) agreed with Sumitomo Mitsui Financial Group to convert $1.09 billion in preferred shares it holds in the company, helping the company to raise much needed capital, as it trails its global rivals. Measured... More of this article »
JPMorgan Chase & Co. (NYSE:JPM), Bank of America Corp. (NYSE:BAC) and U.S. Bancorp (NYSE: USB) Among Leading Stocks for 2010 Says Analysts
A report yesterday from KBW Inc. noted that among the best potential stocks of 2010 are JPMorgan Chase & Co. (NYSE:JPM), Bank of America Corp. (NYSE:BAC) and U.S. Bancorp (NYSE: USB), based upon the fact that their capital raising... More of this article »
Citigroup’s (NYSE:C) Investment Bank Chief John Havens Paid $9.7 Million in 2009
The head of Citigroup’s (NYSE:C) investment banking division John Havens received at minimum $9.7 for his work for the company in 2009. In a regulatory filing this week, Citigroup revealed Havens had been awarded 2.7 million... More of this article »
Bank of America (NYSE: BAC) and Other Financial Stocks in 2010 Could Soar
Bank of America (NYSE: BAC) and other stocks in the financial sector could see significant increases in value during the next year, said Dan Frascarelli, manager of the manager of the Lord Abbett Classic Stock Fund in a recent interview... More of this article »
New Gartner Study Predicts Peer-to-Peer Lending to Grow to $5 Billion By 2013
Prosper Marketplace, Lending Club and other peer-to-peer lending companies received encouraging news from a new Gartner study this week indicating that the peer-to-peer lending industry would grow to $5 billion worldwide during the... More of this article »
Peer-to-Peer Lending Firm Lending Club Moves Offices to Redwood City, CA
Lending Club, one of the largest peer-to-peer lending firms, has announced that it will be moving its offices this month from Sunnyvale, CA to Redwood City, CA. Lending Club’s COO John Donovan made the following statement about the... More of this article »
Will Falling Mortgage Apps and Expiring Tax Credits Cut Into Bank of America (NYSE: BAC) and Wells Fargo (NYSE: WFC) Lending Profits?
The Mortgage Bankers Association (MBA) announced Wednesday that mortgage applications remained near a six-month low last week as rising rates cut into what has been a robust refinancing market. Rates on the 30-year fixed mortgage... More of this article »
Citigroup (NYSE: C) Investment Banking Chief Received $9 Million Compensation Package in 2009
Citigroup (NYSE: C) Investment Banking Chief John Havens received a $9 million compensation package in 2009 making him the highest-paid employee of the bank, according to a new WSJ report. Haven’s salary was not vetted by the Treasury... More of this article »
Is Bank of America Corp.’s (NYSE:BAC) Brian Moynihan Working on Becoming the Voice and Face of the Industry?
Listening to and reading about what Bank of America Corp.’s (NYSE:BAC) Brian Moynihan has been saying in the first few days as CEO of the banking giant makes me think he’s attempting to position himself as the voice of... More of this article »
Goldman Sachs (NYSE: GS) Q4 Earnings Estimate Cut By Top Banking Analyst Meredith Whitney
Shares of Goldman Sachs had a brief hiccup on Tuesday before heading 1.7 higher for the day. The midday selling was sparked by well known Wall Street banking analyst Meredith Whitney, who lowered her fourth quarter earnings estimates... More of this article »
Twice Bitten? Meredith Whitney Lowers Profit Estimates for Goldman Sachs (NYSE: GS) For the Second Time in a Month
Banking analyst Meredith Whitney lowered her profit estimates for investment bank Goldman Sachs (GS) for the second time in less than a month. Shares of Goldman rose $3.06, to $176.14. Although no reason was given, Goldman’s recent... More of this article »
Morgan Stanley (NYSE: MS) tops Goldman Sachs (NYSE: GS) in M&A Activity
Morgan Stanley (MS) has beaten its arch-rival Goldman Sachs (GS) to the top of the mergers and acquisitions league tables Although 2009 will hardly go down as a good year for mergers and acquisitions, Morgan Stanley advised on $585... More of this article »
Morgan Stanley (NYSE: MS) Awarded $800 Million Settlement from Discover Financial Services
Morgan Stanley (MS) won a key legal ruling in its battle with former credit-card subsidiary Discover Financial Services Inc. (DFS) over almost $800 million Morgan Stanley says it is owed. In a ruling on Monday, New York State Supreme... More of this article »
Bank of America Corp. (NYSE:BAC) Can’t Use Media Reports in Civil Trial
Bank of America Corp. (NYSE:BAC) received a blow from U.S. District Judge Jed S. Rakoff in their civil trial with the Securities and Exchange Commission, as Rakoff granted a request from the SEC to forbid expert witnesses for Bank... More of this article »
Bank of America Corporation (NYSE:BAC) Hit With Class Action Lawsuit
More fallout from what is becoming a debacle for Bank of America Corporation (NYSE:BAC) in relationship to its acquisition of Merrill Lynch, and its alleged misbehavior in bonuses awarded to executives of Merrill Lynch of $5.8 billion,... More of this article »
Is Goldman Sachs Group (NYSE:GS) Entry Into ETFs a Good Strategy?
The interest by Goldman Sachs Group (NYSE:GS) to enter into the ETF market generates some questions as to how profitable it can be and how much of a foothold they can secure in an already crowded field of approximately 800 ETF funds... More of this article »
Prosper Marketplace and People Capital Announce Partnership
Prosper Marketplace and People Capital have announced that the two companies formed a new referral partnership in which both companies will provide each other referral leads when their counterparts service might be better suited for... More of this article »
Citigroup (NYSE: C), Bank of America (NYSE: BAC) And JP Morgan (NYSE: JPM) Likely Benefactors From Expiring Corporate Debt In 2010
The year 2010 will see very large chunks of corporate debt maturing for many U.S. corporations, including several of the nations’ largest banks, such as Citigroup (NYSE: C), Bank of America (NYSE: BAC) and JP Morgan Chase (NYSE:... More of this article »
Citigroup Inc. (NYSE:C) in Agreement with FXall to Sell Them Electronic Trading Platform ‘LavaFX’
FXall, a trading platform for electronic currency transactions, announced it was acquiring the ‘LavaFX’ of Citigroup Inc. (NYSE:C) in order to expand their market share in the multi-bank sector. Citigroups’ Jeff Feig,... More of this article »
Bank of America (NYSE:BAC) CEO Brian Moynihan Looking for Balance Between Stability and Growth for the Company
Bank of America (NYSE:BAC) CEO Brian Moynihan wrote in a opinion piece for the Charlotte Observer that he was looking for a balance between foundational stability and innovative growth for the company, acknowledging that unchecked... More of this article »
Morgan Stanley (NYSE:MS) Tops JP Morgan (NYSE:JPM), Goldman Sachs (NYSE:GS) in Mergers and Acquisitions for 2009
Advising on deals worth approximately $585 billion, Morgan Stanley (NYSE:MS) took over the No. 1 spot from JP Morgan (NYSE:JPM), and also beat out investment bank rival Goldman Sachs (NYSE:GS) in mergers and acquisitions deals for... More of this article »
Analysts Upgrade Morgan Stanley (NYSE:MS) on Continued Profits and Growth in Share Price
Analysts from Credit Suisse and UBS Securities upgraded Morgan Stanley (NYSE:MS) Monday based on expectations profits will continue to grow and the share price will move up in conjunction with that growth throughout 2010. Credit Suisse... More of this article »
Citigroup (NYSE: C) and Bank of America (NYSE: BAC) Mortgage Rates Remain Near 5%
Bank of America’s (NYSE: BAC) and Citigroup’s (NYSE: C) mortgages rates remain near historical lows as the economy takes a slow march toward recovery Interest rates for 30-year refinance rates peaked as high as 5.35% during the... More of this article »