Home » Archive for March, 2010
Wells Fargo (NYSE:WFC): HAMP a Disaster
In view of the disaster HAMP has become, Wells Fargo (NYSE:WFC) was recently asked by president of NAB Research when the program would end for them, considering they have about 15,000 people working on and in it. Nancy Bush, the NAB... More of this article »
AIG Sells International Life Insurance Business for $15.5 Billion to MetLife (NYSE: MET), (NYSE: AIG)
American International Group (NYSE: AIG) announced that it will be selling its foreign life insurance business to MetLife (NYSE: MET) for $15.5 billion after more than two years of negotiation. The deal will assist MetLife, who is... More of this article »
U.S. Steel (NYSE:X) Up On Goldman Sachs (NYSE:GS) Upgrade
After Goldman Sachs (NYSE:GS) analyst Sal Tharani upgraded U.S. Steel (NYSE:X) from “neutral” to a “buy,” U.S. steel surged 2 percent quickly reach over $60 a share. Along with the upgrade, Tharani increased... More of this article »
Morgan Stanley (NYSE:MS) Hires Gary Shedlin Away from Citigroup (NYSE:C)
Morgan Stanley (NYSE:MS) has reportedly hired Gary Shedlin, the chairman of Citigroup’s (NYSE:C) investment banking Financial Institutions Group. A spokeswoman for Morgan Stanley said the role of Shedlin at the company will be... More of this article »
Shareholder Approval for Prudential Plc Buying AIG Unit not a Surety, Says Bank of America (NYSE:BAC) Analyst
According to Bank of America (NYSE:BAC) analyst Blair Stewart, the attempt by Prudential Plc to acquire an Asian unit of American International Group is not a guarantee at this time, as it’s possible shareholder approval may... More of this article »
JP Morgan Chase Upgraded by Zacks Citing Market Improvements and Acquisitions
JP Morgan Chase (NYSE: JPM) was upgraded by Zacks Investment Research to a “Neutral” rating, up from and “Underperform” rating, citing the market’s recovery and valued growth indicators. Zacks said that JP Morgan Chase will... More of this article »
Wells Fargo Retreats from Hiring Report (NYSE: WFC)
Wells Fargo (NYSE: WFC) attempted to clarify a Reuters report published last weekend suggesting that the bank would be hiring an additional 10,000 brokers for its wealth management business. In a statement, the San Francisco-based... More of this article »
Fifth-Third Bancorp (NYSE: FITB) Declines Another 1.5% After Citigroup (NYSE: C) Downgrade
Shares of Fifth-Third Bancorp (NYSE: FITB) have fallen by another 1.5%, after closing down 5% on Thursday when a Citigroup (NYSE: C) analyst downgraded the regional bank’s outlook, citing that the stock has almost met Citi’s target... More of this article »
Customers Use Citibank CEO Pandit’s New Blog to Complain About Fees and Other Issues (NYSE: C)
Citibank (NYSE: C) CEO Vikram Pandit has recently begun blogging and now disenchanted Citibank customers and other upset consumers are now using Citibank’s “New Citi” blog to voice their distaste for new fees being charged on... More of this article »
AIG (NYSE: AIG) Readies Another Big Sale, Alico Unit Likely Going To MetLife (MYSE: MET)
American International Group (NYSE: AIG) is apparently not wasting any time raising even more capital following capital last week’s sale of American International Assurance (AIA) to Prudential plc. The firm is expected to announce... More of this article »
New York Judge to Decide if Citibank and Terra Firma Lawsuit Should be Moved to London (NYSE: C)
A New York-based judge will make a decision as to whether or not to move a case made against Citibank (NYSE: C) to London that has been filed by Terra Firma Capital Partners. Private equity firm Terra Firma Capital Partners accused... More of this article »
Bank of America (NYSE: BAC), Citibank (NYSE: C) and Goldman Sachs (NYSE: GS) Attempting to Win Over Public Opinion with Online Marketing
Citibank (NYSE: BAC), Goldman Sachs (NYSE: GS) and Bank of America (NYSE: BAC) are trying to sway public opinion back in the favor of banks as consumer contempt toward the financial industry grows and as new regulatory legislation... More of this article »
Centennial Bank, Waterfield Bank, Sun American Bank and Bank of Illinois Shutdown by Federal Regulators
Centennial Bank, Waterfield Bank, Sun American Bank and Bank of Illinois were shut down by federal regulators on Friday, pushing the number of bank failures to 26 for the year of 2010. The Federal Deposit Insurance Corporation (FDIC)... More of this article »
Bank of America (NYSE: BAC) Upgrades Walt Disney (NYSE: DIS)
Bank of America increased its rating on Walt Disney Co (NYSE: DIS) to ‘buy” from “neutral” citing that the entertainment monolith’s 2011 earnings could outperform expectations. The value of shares in Walt Disney increased... More of this article »
Goldman Sachs Attempting to Improve Public Image by Acknowledging Mistakes (NYSE: GS)
Goldman Sachs (NYSE: GS) is attempting to win over public opinion by acknowledging mistakes and being more open to interviews. The company rarely has a need to advertise to the public, but has received substantial criticism related... More of this article »
Prosper Marketplace Loan Origination Growth Rate Slowing
Peer-to-Peer Lending Company Prosper Marketplace saw a decline in the amount of new loans that the company is originating for the second consecutive month during February. Prosper Marketplace issued a total of $1.7 million in new loans... More of this article »
$7.5 Million in New Loans Originated by Lending Club in February
Lending Club, a U.S. based peer-to-peer lending company, originated $7.5 million in new loans during the month of February and now has funded more than $91 million worth of peer-to-peer loans to consumers. Lending Club’s loan growth... More of this article »
Bank of America to Hold Consumer Conference on March 10th and 11th (NYSE: BAC)
Bank of America Merrill Lynch (NYSE: BAC) will be holding its annual Consumer Conference on March 10th and 11th. The event will take place in New York City at the Palace Hotel. A number of companies have made statements indicating... More of this article »
Citibank Settles 15 Year-Old Lawsuit Related to Bruno’s Supermarkets (NYSE: C)
Citibank (NYSE: C) announced that it had finally reached a settlement agreement in a lawsuit related to the buyout of Bruno’s Supermarkets which dated back to 1995 with former bondholders of the company. Plaintiffs in the case were... More of this article »
JPMorgan (NYSE:JPM), Citicorp (NYSE:C), Bank of America (NYSE:BAC) and Morgan Stanley (NYSE:MS) Sued by Tribune Bondholders
Bondholders of Tribune, in connection to the Chapter 11 bankruptcy case, have sued JPMorgan (NYSE:JPM), Merrill Lynch Capital Corp.,Citicorp (NYSE:C), Bank of America (NYSE:BAC) and Morgan Stanley (NYSE:MS) over the financing of the... More of this article »
Citigroup (NYSE:C) Hearing: “There is No Too Big to Fail”
After laying into Vikram Pandit about the size of Citigroup (NYSE:C) yesterday, and the need to take steps to shrink the company down to levels where they aren’t a hazard to the rest of the country, it got even more interesting.... More of this article »
Wells Fargo (NYSE:WFC) to Hire 10,000 Brokers
Wells Fargo (NYSE:WFC) is going to hire another 10,000 brokers going forward, according to a company spokeswoman, who confirmed the story which had been circulating since last night. As far as the time frame this is going to happen... More of this article »
Bank of America Corp. (NYSE:BAC), JPMorgan Chase & Co. (NYSE:JPM), Wells Fargo & Co. (NYSE:WFC) and Citigroup Inc. (NYSE:C) Buying Back $21 Billion in Home Loans
Fannie Mae and Freddie Mac are reportedly going to force Bank of America Corp. (NYSE:BAC), JPMorgan Chase & Co. (NYSE:JPM), Wells Fargo & Co. (NYSE:WFC) and Citigroup Inc. (NYSE:C) ot buy back up to $21 billion in residential... More of this article »