Home » Archive for March, 2010
U.S. Bancorp (NYSE:USB), New York Community Bank (NYSE:NYB) and PNC Financial Services (NYSE:PNC) Strongest Among Regional Banks Says Fitch
The market seems to have factored in most negative elements in relationship to the major banks, but there is a lot to come this year for regionals, and the strongest of them at this time according to Fitch ratings include U.S. Bancorp... More of this article »
Investors Continue to be Bullish on Goldman Sachs (NYSE:GS)
The populist uprising against Goldman Sachs (NYSE:GS) has done little to deter the bullish attitude of investors toward the company, and they continue to pour money into the financial institution, as confidence they’ll continue... More of this article »
IPO Market Hot This Week for Bank of America (NYSE:BAC) and Wells Fargo Corp. (NYSE:WFC), JPMorgan Chase & Co. (NYSE:JPM) and Morgan Stanley (NYSE:MS)
The big banks are enjoying a good week for IPOs, as almost all of them were involved with two ocean shipping companies – Baltic Trading and Crude Carriers, and also health sciences company Aveo Pharmaceuticals, Bank of America... More of this article »
Bank of America (NYSE:BAC) Adds 8,000 More to Modified Mortgage List
Bank of America (NYSE:BAC) has increased the number of customers it added to their list of those they will modify their mortgages with under the Home Affordable Modification Program (HAMP), according to its latest month. “We... More of this article »
Standards & Poor’s Reiterates “Hold” Rating for Citibank (NYSE: C)
Standards & Poor’s reiterated its “hold” rating on shares of Citibank (NYSE: C) following a major surge in the company’s stock price closing at $4.18 per share on Thursday. The Standards & Poor’s analyst, Matthew... More of this article »
Oppenheimer Says Citibank (NYSE: C) Now Fairly Valued
An Oppenheimer Funds analyst said on Friday that he believes Citibank (NYSE: C) shares are now fairly priced after this week’s run-up on positive comments from the company’s CEO, signs that the government may wind down its stake... More of this article »
Citibank (NYSE: C) Lowers Price Target for National Semiconductor (NYSE: NSM)
Citibank (NYSE: C) maintained its buy rating on National Semiconductor (NYSE: NSM) and lowered its price target to $22, down from $23.00 citing lower comparable multiples. Citibank Analyst Terence Whalen said, “New CEO Macleod... More of this article »
Citibank (NYSE: C) Maintains Buy Rating on Eaton, Raises Price Target to $82 (NYSE: ETN)
Citibank (NYSE: C) maintained its buy rating on Eaton (NYSE: ETN) and raised its price target to $82.00, up from $77.00, citing high peer multiples. Citibank Analyst Timothy Thein said, “Our detailed analysis of ETN’s Power... More of this article »
Citibank (NYSE: C) Downgrades Abbot Laboratories (NYSE: ABT)
Citibank (NYSE: C) has downgraded Abbot Laborites from a “Hold” rating to a “Sell” rating, because of signs that the company may face profitability trouble in 2010. Citi simultaneously raised the company’s price target to... More of this article »
Citigroup (NYSE:C), JP Morgan (NYSE: JPM) Helped Spark Lehman’s Collaspe
In a 2,200 page report, the U.S. Trustee appointed examiner said that JP Morgan Chase (NYSE: JPM) and Citigroup (NYSE: C) helped cause the demise of Lehman Brothers by changing guarantee agreements and requiring more capital from the... More of this article »
Berkshire Hathaway (NYSE: BRK-B) Chairman Warren Buffett Takes $100,000 Salary For 29th Year
In a time when bailed out Wall Street firms are reporting multi-million dollar payouts to executives for 2009, Warren Buffett, the Oracle of Omaha took just $100,000 from Berkshire Hathaway, the company he led to a 60 percent earnings... More of this article »
Citibank (NYSE: C) Sells Japanese Niseko Village Ski Resort
Citigroup (NYSE: C) has Niseko Village, a famous ski-resort in Japan, to Malaysia’s YTL Corp (KL: YTLS). Niseko Village was sold for 6 billion yen, or about $67 million U.S. The village is a popular vacation destination for Chinese... More of this article »
Bank of America Facing Pressure to Sell Assets (NYSE: BAC) and Follow in Citibank’s (NYSE: C) Footsteps.
Bank of America (NYSE: BAC) executives including Chief Executive Brian Moynihan has been told by regulators that the largest U.S. bank in terms of assets must become “much smaller” in a similar manner to Citigroup’s (NYSE: C)... More of this article »
J.P. Morgan Chase (NYSE:JPM) Going into Exchange-Traded Funds Business
The investment unit of J.P. Morgan Chase (NYSE:JPM) says it is making plans to offer exchange-traded funds in the near future, as the investment vehicles continue to surge in popularity, drawing large investment dollars to their coffers. Exchange-traded... More of this article »
Wells Fargo (NYSE:WFC) CEO John Stumpf Named to Target (NYSE:TGT) Board
Wells Fargo (NYSE:WFC) Chief Executive Officer John Stumpf has been named to the board of Target Corporation (NYSE:TGT) today. The board position will be effective immediately, said Target. George Tamke, who is a partner at Clayton,... More of this article »
Citigroup (NYSE:C) Shares Continue to Rise
It’s fun watching the Citigroup (NYSE:C) shares rise, as it reminds you of people making huge investments based on nothing but the herd mentality, as Citigroup has nothing happening to it that justifies the stock being bid up... More of this article »
Senior Wells Fargo (NYSE: WFC) Executive Sells $5 Million in Shares
A Wells Fargo (NYSE: WFC) Senior Executive Vice President (David Carroll) sold 168,00 Wells Fargo shares at an average price of $28.88 each on March 8th and 9th indicating that the bank’s stock may have hit some form of ceiling. After... More of this article »
Bank of America (NYSE:BAC) Not Concerned Over Home Equity Losses
According to Bank of America (NYSE:BAC) Chief Executive Officer Brian Moynihan, he’s not too concerned over the losses the company will incur from their home-equity loans, which holds about $149 billion in its portfolio. Moynihan... More of this article »
U.S. Treasury Praise Bank of America (NYSE: BAC) Fee Reductions, Urges Citibank (NYSE: C), JP Morgan Chase (NYSE: JPM) and Wells Fargo (NYSE: WFC) To Follow Suit
U.S. Treasury Secretary Timothy Geithner praised a move by Bank of America (NYSE: BAC) to prevent customers from over drafting their accounts, effectively eliminating overdraft fees, and encourage other major banks including Citibank... More of this article »
GMAC Sold $1.5 Billion in New 10 Year Notes
General Motors Auto Credit (NYSE: GE) sold $1.5 billion worth of 10-year senior unsecured notes on Wednesday, according to an un-named source familiar with the sale. The 8.00% notes were priced at 98.320 to yield 8.25% or 453.2 basis... More of this article »
Visa (NYSE: V) To Hire 350 Workers In Miami Area
Visa Inc. (NYSE: V) announced they will hire 350 workers to staff a new customer service center opening in the Miami-Dade county of Florida. The new employees will provide support to Visa’s financial institution clients, merchants... More of this article »
JP Morgan Chase (NYSE: JPM) Downgrades Annaly Capital (NYSE: NLY) to “Neutral”
JP Morgan Chase (NYSE: JPM) analysts downgraded Annaly Capital (NYSE: NLY) from “Overweight” to “Neutral”, changing the company’s price target to $19.00. Annaly Capital Management Inc owns and manages a portfolio of real... More of this article »
Pandit Predicts Citibank (NYSE: C) Will Earn $20 Billion in 2 Years
Citibank (NYSE: C) CEO Vikram Pandit is expected to state on Thursday that the company will earn as much as $20 billion from its core businesses within the next few years, according to a report from the Financial Times. Less than two... More of this article »