Home » Archive for March, 2010
Citigroup Rose 3.6% on Monday after Upgrade from Rochdale Securities
Citigroup rose an additional 3.6% on Monday, closing at $4.04 after an upgrade from noted analyst Richard Bove of Rochdale Securitise. Bove upgraded Citigroup (NYSE: C) yesterday to a “Buy” rating, up from a “Neutral” rating... More of this article »
JP Morgan Chase (NYSE: JPM) Joins Bank Of America (NYSE: BAC), Wells Fargo (NYSE: WFC) In HAMP Second-Lien Mod Program
JP Morgan Chase (NYSE: JPM) announced Monday it has joined the government’s second-lien relief program, a program that aims to provide relief on borrower’s “piggyback” loans, an option that was unavailable in previous modification... More of this article »
Citigroup to Double Size of Hedge Fund Operations (NYSE: C)
Citigroup’s (NYSE: C) global prime finance head, Nick Roe told Bloomberg News that Citigroup intends to double the size of its team that manages government-backed funds and direct hedge fund investments. Roe commented that the growth... More of this article »
J.P. Morgan (NYSE:JPM) Selling ‘Compensation and Benefit Strategies’ Unit to Aon Consulting
J.P. Morgan (NYSE:JPM) announced it has signed an agreement with Aon Consulting to sell its Compensation and Benefit Strategies unit, a part of their Retirement Plan Services, LLC. Terms of the deal haven’t been released at the... More of this article »
Richard Bove Upgrades Citigroup to Buy, Raises Price Target (NYSE:C)
Noted analyst Richard Bove of Rochdale Securities upgraded Citigroup (NYSE: C) to a “Buy” rating up from a “Neutral” rating and increased his target price on the stock from $3.75 to $5.00 per share. Although Bove’s re-rating... More of this article »
Citigroup (NYSE:C) Has Option to Veto any EMI (LSE:EMI) Licensing Deal
In need of a significant cash infusion, EMI Group (LSE:EMI) has been throwing around the idea of licensing its music to the North American market, which could raise up to $597.9 million for the struggling music company, owned by Terra... More of this article »
Bank of America (NYSE:BAC) Economist Says Reserve Bank of India Ready to Raise Rates 25 BPS
Bank of America (NYSE:BAC) economist Indranil Sengupta stated the Reserve Bank of India will increase its rates at its next policy meeting in April by 25 basis points, adding on to the surprise increase in rates a few days ago, which... More of this article »
Bank of America (NYSE:BAC), JPMorgan Chase (NYSE:JPM), Wells Fargo (NYSE:WFC) and Citigroup (NYSE:C) Will Fight Financial Reform
Similar to the health care bill, financial reform promises to be a battle as well with giant banks like Bank of America (NYSE:BAC), JPMorgan Chase (NYSE:JPM), Wells Fargo (NYSE:WFC) and Citigroup (NYSE:C) ready to go to war. The... More of this article »
How to Reach Citibank’s (NYSE: C) Executive Customer Service Number and Get Real Help
Like most large banks, Citibank’s (NYSE: C) customer service units are often filled with call center workers that have limited amounts of training and cannot really do much to help you beyond a prescribed set of remedies setup by ... More of this article »
Citigroup (NYSE: C) Maintains Buy Rating and Price Target on Kraft Foods (NYSE: KFT)
Citigroup (NYSE: C) maintained its “Buy” rating on Kraft Foods (NYSE: KFT) and kept its $23.00 price target as the company remains optimistic about Kraft’s recent acquisition of Cadbury and sees growth ahead for the company in... More of this article »
Bank Of America (NYSE: BAC) CEO Moynihan To Visit China In Effort To Expand Business
Brian Moynihan, chief executive officer of Bank of America (NYSE: BAC) is making his first trip to China this coming week in an effort to expand into China, according to a recent Wall Street Journal report. The bank is looking to... More of this article »
Citibank (NYSE: C) Hires New M&A Head for Asia-Pacific Region
Citibank (NYSE:C) has hired a new head of mergers and acquisitions for its Asia-Pacific region, according to several sources. The new hire, Colin Banfield, formerly of Nomura Holdings Inc resigned his position last week and will take... More of this article »
Bank of America (NYSE: BAC) Sues First American Insurance Corp (NYSE:FAF)
Lawsuits in the mortgage industry are becoming increasingly prevalent as banks are suing lenders and lenders are suing insurers in hopes of recouping losses from the sub-prime meltdown that occurred in 2008. The latest in this serious... More of this article »
Prosper Marketplace Has 11 Days to Announce New Funding or May Face Bankruptcy
Last month Prosper Marketplace, a company that offers peer-to-peer loans, received a $2 million bridge loan due on April 1st to cover operating costs while it seeks its next round of venture capital funding. The loan is due in 11 days... More of this article »
Fifth Third Bancorp (NYSE: FITB) May Follow Bank of America (NYSE: BAC) in Ending Overdraft Fees
Fifth Third Bancorp (NYSE: FITB) President Bob James said an in an interview this week with the Charlotte Business Journal that his bank will follow a move made by Bank of America (NYSE: BAC) to stop charging customers overdraft fees. James... More of this article »
Citigroup Taking Moves to Expand Consumer Lending Business (NYSE: C)
Citigroup (NYSE: C) is taking moves to expand its consumer lending business as the U.S. economy slowly begins to recover. The New York-based financial behemoth had originally planned to be scaling back its consumer lending business,... More of this article »
Citigroup (NYSE: C) Maintains Sell Rating on SunPower (NADSAQ: SPWRA), Lowers Price Target
Citigroup (NYSE: C) maintained its Sell Rating on SunPower (NASDAQ:SPWRA) and lowered their price target on the company to $15.00, down from$18.00. Analyst Timothy M Arcuri said, “While completion of the actg investigation removes... More of this article »
Goldman Sachs (NYSE: GS) Cuts Estimates On Bank Of America (NYSE: BAC), JP Morgan (NYSE: JPM) And Morgan Stanley (NYSE: MS)
Analysts at Goldman Sachs (NYSE: GS) cut earnings estimates for the current quarter and full-year on several names in the banking sector, including Bank of America (NYSE: BAC), JP Morgan (NYSE: JPM) and Morgan Stanley (NYSE: MS). ... More of this article »
Bank of America (NYSE:BAC), JPMorgan Chase (NYSE:JPM), Morgan Stanley (NYSE:MS) Have Estimates Lowered by Goldman Sachs (NYSE:GS)
A number of financial stocks were down today after Goldman Sachs (NYSE:GS) lowered estimates for a number of them, including Bank of America (NYSE:BAC), JPMorgan Chase (NYSE:JPM) and Morgan Stanley (NYSE:MS). Goldman based lowering... More of this article »
How Bad Really Were Bank of America (NYSE:BAC), Citigroup (NYSE:C), Wells Fargo (NYSE:WFC), JPMorgan (NYSE:JPM)? – We are going to find out!
A federal appeals court ruled today that the Federal Reserve must release information concerning which financial institutions may have collapsed if they hadn’t intervened with bailing them out. Bank of America (NYSE:BAC), Citigroup... More of this article »
Bank of America (NYSE:BAC), JPMorgan Chase (NYSE:JPM) Dismiss Bankruptcy Appeal of Charter Communications
An appeal by Bank of America (NYSE:BAC) and JPMorgan Chase (NYSE:JPM) concerning the bankruptcy confirmation concerning Charter Communications has been agreed to be dismissed in New York. The agreement to dismiss the pending appeal... More of this article »
Treasury Hides Citigroup (NYSE:C) Executive Names Connected to Bailout Negotiations
Names of the executives connected to negotiations between Citigroup (NYSE:C) and the Treasury Department over terms of the 2008 bailout were hidden in order to protect them from potentially being “harassed.” When Bloomberg... More of this article »
Citibank (NYSE: C) Bullish on British Currency
Citibank (NYSE: C) said that investors should increase their holdings in the British pound, predicting a rally to an exchange rate of $1.57 after it closed yesterday at $1.52, citing technical indicators. The Pound strengthened 1.2%... More of this article »