Home » Archive for July, 2010
Morgan Stanley Smith Barney Appoints Two Wealth Management Executives (NYSE: MS)
Morgan Stanley (NYSE: MS) Smith Barney has made two appointments to its wealth management division today, including Douglas J. Ketterer as its new head of Morgan Stanley Private Wealth Management in the United States and the appointment... More of this article »
JPMorgan (NYSE: JPM) Sues Texas Ranges Over Stadium Lease
JPMorgan Chase & Co. (NYSE: JPM) will be suing the Major League Baseball team Texas Rangers for taking over the lease of its Arlington stadium, Rangers Ballpark, before filing for bankruptcy. Bloomberg reported that JPMorgan Chase... More of this article »
Goldman Sachs (NYSE: GS) Made Bad Call on Volatility, Earnings Suffer
Goldman Sachs Group Inc. (NYSE: GS) lost money during the second quarter by betting that volatility would drop during the second quarter as equity price swings moved to a 12 month high. “Primarily in response to our client needs,... More of this article »
Bank of America Corp. (NYSE: BAC) Details Impact of Durbin Amendment, But Regionals May Feel the Most Pain
One piece of the financial reform legislation that passed through both houses of Congress last week included the Durbin amendment. But despite the headlines being made by large banks such as Bank of America (BAC), it is regional banks... More of this article »
Citibank (NYSE: C) June Credit Card Write-Offs Remain Elevated
Citigroup, Inc (NYSE: C)’s June credit-card late-payments and write-offs remained high during the month of June, said the bank on Thursday in a regulatory filing The New York-based bank reported that its credit losses rose to 11.46%,... More of this article »
Bank of America May Add Retail Banking Fees to Offset Financial Reform (NYSE: BAC)
Bank of America Corp (NYSE: BAC) announced that new financial reform legislation could cost the bank about $2 billion per year from its card service business, suggesting that the bank will charge new fees to retail customers to offset... More of this article »
Citigroup, JPMorgan and Bank of America Pay $1 Billion in U.K. Bonus Tax (C, JPM, BAC)
Citigroup, Inc (NYSE: C), JPMorgan Chase & Co. (NYSE: JPM) and Bank of America Corp (NYSE: BAC) paid more than $1 billion during the second quarter paying employee bonus taxes levied by the U.K.’s government. At the end of 2009,... More of this article »
Citigroup (NYSE: C) Discloses Results, Beats Earnings
With earnings season in full force, it was Citigroup’s (NYSE: C) turn on Friday. The firm reported strong results, beating the consensus estimate of 5 cents per share coming in with 9 cents per share. The results were below last... More of this article »
Bank of America (NYSE: BAC) Opening Customer Outreach Center
Bank of America (NYSE: BAC) has announced that their Home Loans division is opening a new customer outreach center in Dedham, Massachusetts to serve customers in the Boston area. As one of the world’s largest financial institutions,... More of this article »
KBW Raises Earnings Estimates for Citigroup (NYSE: C)
Citigroup Inc. (NYSE: C), which has been decimated in the last 2 years by the financial crisis received some good news today. The analysts at Keefe, Bruyette & Woods (KBW) raised their earning outlook for the firm. An increased... More of this article »
Boeing (NYSE: BA) Announces Major Orders from Emirates Airlines and General Electric Co. (NYSE: GE)
Boeing (NYSE: BA) announced on Monday that it received two major orders from Emirates Airlines and General Electric Co. (NYSE: GE), marking the first of many announcements from the Farnborough International Air Show this week. Emirates,... More of this article »
Britain Moves to Sell Stakes in Lloyds Banking Group PLC (LON: LLOY) and Royal Bank of Scotland (LON: RBS)
The U.K. government has hired investment banker Jim O’Neill on Monday to help manage the sale of its stakes in Lloyds Banking Group PLC (LON: LLOY) and Royal Bank of Scotland (LON: RBS), reports the New York Times. London-based Jim... More of this article »
Returning to Risk? Bank of America Corp. (NYSE: BAC) Said to Market $300 Million CLO for Tetragon
Bloomberg News is reporting that Bank of America Corp. (BAC) is arranging a $300 million collateralized loan obligation (CLO), according to people familiar with the situation. LCM Asset Management LLC, a $2.35 billion investment firm,... More of this article »
General Electric Co. (NYSE: GE) Signs Service Contract with Tennessee Valley Authority
General Electric Co. (NYSE: GE) has signed a $116 million service agreement with the Tennessee Valley Authority, the largest public energy provider in the United States, covering four TVA power plants for the next five years. A statement... More of this article »
Citigroup, Inc (NYSE: C) and AIG Hid $11 Million in Loans Through Repurchasing Agreements
Citigroup, Inc (NYSE: C) and AIG (NYSE: AIG) classified more than $11 billion in loans as sales during the second half of 2009, hiding the two companies’ risk levels, according to a report with ABC News citing SEC filings. The announcement... More of this article »
Ford Motor Co. (NYSE: F) to Play Musical Chairs with European Management
Ford Motor Co. (NYSE: F) will be making a number of changes to its European management team as a result of the purchase of Volvo Cars by Geely, which will be completed in September. A number of executives from Volvo Cars management... More of this article »
Bank of America and Citigroup Shares Fall Sharply on Earnings News (BAC, C)
Shares of Citigroup, Inc (NYSE: C) and Bank of America Corp (NYSE: BAC) fell sharply on Friday after reporting disappointing second quarter earnings results. Bank of America Corp (NYSE: BAC) led the percentage decliners in the DOW... More of this article »
How to Get Started investing with Lending Club
Lending Club is the largest peer to peer lending company in the United States in terms of new loan origination on a monthly basis. Many investors have turned to Lending Club as a way to invest without putting money into stocks or bonds.... More of this article »
Microsoft Corp (NASDAQ: MSFT) To Build “Dozens More” Retail Stores
Microsoft Corp (NASDAQ: MSFT) opened four brick-and-mortar stores during the last year and now the Redmond-based software company hopes to build out the initiative by opening a number of new retail locations. Last week, at Microsoft’s... More of this article »
Financial Reform To Cost Bank of America $50 billion Over 10 Years (NYSE: BAC)
Bank of America Corp (NYSE: BAC) announced tepid earnings results on Friday and warned that the financial reform legislation could cost the bank as much as $4.3 billion annually in lost revenue and a one-time cost of $7 billion to... More of this article »
Bank Of America (NYSE: BAC), JP Morgan (NYSE: JPM) Target Fees To Offset Revenue Drags From Financial Reform
Several big name financial institutions, such as Bank of America (NYSE: BAC) and JP Morgan (NYSE: JPM) are looking for ways to increase fee income in order to offset expected revenue declines from the financial reform bill. The latest... More of this article »
Will the Goldman Sachs (NYSE: GS) Settlement Play With the Public?
This much is clear. We haven’t heard the last about Goldman Sachs’ settlement with the SEC. Daily Finance has been all over this story. Their reporting details both the short-term benefits and long-term challenges facing Goldman... More of this article »
Audible.com Releases iPod, iPhone and iPad Application
If you enjoy listening to audio books, you probably have some familiar with Audible, a subsidiary of Amazon.com which has a virtual monopoly in the sale of digital audio books. Users have been able to play audible content on iOS devices,... More of this article »