Home » Archive for October, 2010
Citigroup, Inc (NYSE: C) Must Defend Suit over Loan Documents, Court Says
Citigroup, Inc (NYSE: C)’s CitiFinancial Mortgage must defend a suit over issues related to loan documents, ruled a federal appeals court. The suit is only a small part of a larger controversy related to the quality of legal filings... More of this article »
JPMorgan Has Highest Investment Banking Market Share (NYSE: JPM)
JPMorgan Chase & Co. (NYSE: JPM) received the most fees from global investment banking during the first three quarters of the year, despite losing market share and facing declining fee revenue. The New York-based bank, which saw... More of this article »
Wells Fargo Reaches Settlement on Deceptive Loans, Must Spend $772 Million on Modifications (NYSE: WFC)
Wells Fargo & Co. (NYSE: WFC) has an agreed to spend up to $772 million to modify mortgages for borrowers in eight states in order to settle claims that the San Francisco-based bank made use of deceptive marketing tactics to sell... More of this article »
Lending Club Issues $12 Million in Loans During September
Lending Company, a firm which operates a peer to peer lending marketplace, set another record in the amount of loans which were setup during the month of September, arranging more than $12 million worth of loans between borrowers and... More of this article »
Wells Fargo (NYSE: WFC) Offering Incentives to Solar Energy System Buyers
Wells Fargo & Co. (NYSE: WFC) is offering special promotions to residents of California and Colorado that want to install solar energy systems into their homes. The San Francisco-based bank said that customers in Southern California... More of this article »
Ford Motor Co. (NYSE: F) to Cut 175 Lincoln Dealerships
Ford Motor Co. (NYSE: F) announced that it would be dropping about 175 Lincoln dealerships primarily in Urban markets as part of an effort to overhaul its brand with a new look and high-end stores. Executives of the Dearborn, MI-based... More of this article »
Citigroup, Inc (NYSE: C) Hires European Energy Analysts
Citigroup, Inc (NYSE: C) has hired three of Nomura Holding’s European energy analysts and an equity salesperson as part of an attempt to expand its coverage of gas and oil stocks. Specifically, the New York bank hired Alastair Syme,... More of this article »
Downgrades from Goldman Sachs (NYSE: GS), Barclays (NYSE: BCS), and Bank of America (NYSE: BAC)
Equity researchers have the tendency to move markets, especially when they have credibility and markets remain on tenuous footing. Ahead of earnings season, the market is particularly keen to any insight that may provide forewarning... More of this article »
Goldman Sachs (NYSE: GS) Pessimistic on Microsoft (NYSE: MSFT)
Is Microsoft (NYSE: MSFT) too big to succeed? Goldman Sachs (NYSE: GS) may think so. Recently, Sarah Friar, a prominent researcher at Goldman, published a lengthy piece detailing the woes of Microsoft, and ultimately suggested that... More of this article »
Citigroup, Inc (NYSE: C) to Pay $56 Million to Rivals for Underwriting Security Sales
Citigroup, Inc (NYSE: C) will pay rival firms including Bank of America Corp (NYSE: BAC), JPMorgan Chase & Co. (NYSE: JPM), Morgan Stanley (NYSE: MS), UBS AG (NYSE: UBS) and Wells Fargo & Co. (NYSE: WFC) $55.7 million for underwriting... More of this article »
General Electric Signs $700 Million Water and Power Agreement with Saudi Arabia (NYSE: GE)
General Electric Co. (NYSE: GE) signed into an agreement to build a new power plant and provide wastewater treatment services to Saudi Arabia. Under the agreement, valued at more than $700 million, General Electric Co. (NYSE: GE) will... More of this article »
Bank of America Announces Dividends on Preferred Stock (NYSE: BAC)
Bank of America Corp (NYSE: BAC) announced that its board of directors has authorized dividends on varying classifications of its preferred stock. Here are the list of dividends as told by the company in its press release: “A quarterly... More of this article »
Audible.com Android: Get a Free Audio Book for your Android Device
Audible.com is currently offering a free audio book to Android users using the Audible.com Android deal. If you’re the owner of an Android-powered smartphone, you can get a free audio book with a 14-day free trial to Audible.com. Audible... More of this article »
DOJ Files Antitrust Suit Against American Express (NYSE: AXP)
The Department of Justice filed a civil antitrust suit against American Express (NYSE: AXP) saying that the credit-card company refused to sign-on to an industry-wide agreement which would allow merchants to push customers toward cheaper... More of this article »
Citigroup, Inc (NYSE: C) and Ally Financial Accused of Falsifying Foreclosures
Citigroup, Inc (NYSE: C) and Ally Financial Inc. have been accused falsifying foreclosures on loans by conspiring with Mortgage Electronic Registration Systems Inc. in a lawsuit brought forth by a group of Kentucky homeowners. The... More of this article »
Wells Fargo & Co. (NYSE: WFC) Limits Extensions on Short Sales
Wells Fargo & Co. (NYSE: WFC) will no longer be granting more than one extension for homeowners that are trying to complete a short sale, HousingWire reports. The San Francisco-based bank said that it has been working through a... More of this article »
JPMorgan Chase May Boost Dividend by 45% by 2013 (NYSE: JPM)
JPMorgan Chase & Co. (NYSE: JPM) will boost its dividend next year and increase it by as much as 45% between now and 2013 as a result of the strength of its senior management team and acquisitions made during the economic downturn,... More of this article »
Credit Suisse Predicts Lower Profits for Goldman Sachs (NYSE: GS) and Morgan Stanley (NYSE: MS)
Equities research analysts at Credit Suisse AG (NYSE: CS) are predicting that both Morgan Stanley (NYSE: MS) and Goldman Sachs Group Inc. (NYSE: GS) will see lower earnings for the third quarter as a result of “challenging market... More of this article »
Citigroup, Inc (NYSE: C) Comments on Halting Foreclosures.
After Ally Financial, JPMorgan Chase & Co. (NYSE: JPM) and Bank of America Corp (NYSE: BAC) announced that they have halted foreclosures in a number of states to verify their foreclosure affadavits, many are wondering whether or... More of this article »
Goldman Sachs Group Inc. (NYSE: GS) Awards Stock to Top U.K. Employees
Goldman Sachs Group Inc. (NYSE: GS) has given some of its top London-employees millions of dollars’ worth of free stock after a decision to cap their compensation levels. The stock awards were first reported by Mark Kleinman of Sky... More of this article »
Audible.com iPhone: Get a Free Audio Book for your iOS Device
Audible.com is currently offering a free audio book to iPhone users using the Audible.com iPhone deal. If you’re an iPhone, iPod Touch or iPad user, you can get a free audio book with a 14-day free trial to Audible.com. Audible has... More of this article »
Wells Fargo & Co. (NYSE: WFC) Says it Won’t Halt Foreclosures
After Bank of America Corp (NYSE: BAC), JPMorgan Chase & Co. (NYSE: JPM) and Ally Financial have temporarily halted foreclosures in a number of states, many are wondering whether or not Wells Fargo & Co. (NYSE: WFC) and Citigroup,... More of this article »
Citigroup, Inc (NYSE: C) Executives Rebuke Mayo in Meeting
Citigroup, Inc (NYSE: C) executives including Chief Executive Officer Vikram Pandit and Chief Financial Officer John Gerspach “very clearly” rebutted the criticisms made by analyst Mike Mayo while meeting with him on Friday, said... More of this article »