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Goldman Sachs (NYSE: GS) Cuts Compensation Ratio, Similar Story at JPMorgan Chase (NYSE: JPM)
Goldman Sachs (NYSE: GS) famously set a Wall Street pay record in 2007. Since then, the firm has come under increased pressure from shareholders and politicians, seeking to reduce bonuses following the financial crisis. One must wonder... More of this article »
Goldman Sachs (NYSE: GS) Tops Earnings Estimates
Another earnings disclosure, another bank tops estimates. The latest benefactor of improving market conditions is Goldman Sachs (NYSE: GS), which easily beat analysts’ forecasts again. The bank did see a big slowdown in trading,... More of this article »
Bank of America (NYSE: BAC) Posts Loss
Bank of America (NYSE: BAC) announced earnings this morning, and posted rather surprisingly negative results. The firm said it lost $7.65 billion during the third quarter, driven by a charge related to credit and debit card reform... More of this article »
Goldman Sachs (NYSE: GS) Continues Rebuilding Image
Goldman Sachs Group Inc. (NYSE: GS) just months ago settled with the SEC and paid the largest fine in history. Today, the firm continues to change the way it does business in an effort to restore the glory, and confidence of investors.... More of this article »
Citigroup (NYSE: C) Surprises, Wells Fargo (NYSE: WFC) and JPMorgan Chase (NYSE: JPM) Follow
During what was expected to be a dismal earnings season, positive news continues to come up. Today, Citigroup Inc. (NYSE: C) reported better than expected results, which ended up driving all financial stocks higher following a recent... More of this article »
JPMorgan Chase (NYSE: JPM) Set to Announce Earnings Wednesday, Bank of America (NYSE: BAC) and Citigroup (NYSE: C) to Follow
Expectations for third quarter earnings results remain tepid at best, following a series of equity researchers slashing earnings and price targets for many of the key banks. Nonetheless, we are at the dawn of earnings season, and the... More of this article »
Citigroup (NYSE: C) Pessimistic on Microsoft (NYSE: MSFT)
With the lagging economy, the market for luxury items is weak. Consumers are choosing to forego and delay major purchases that are not critical, which seems completely rational due to the rising unemployment and bleak economic outlook.... More of this article »
Bank of America (NYSE: BAC), JPMorgan Chase (NYSE: JPM) and Others Halting Foreclosures, Markets Sag
When the banks foreclose, people get angry. Apparently, when they slow down or stop foreclosing, that angers the people as well. Following last week’s announcement that many of the major banks are suspending foreclosure sales while... More of this article »
Financials Lag S&P In Q3, Led by Bank of America (NYSE: BAC)
With the third quarter now complete, we can look back and more fully assess the state of the market and industries. Although financial stocks have drove the performance of the broad market for years, there was a clear divergence this... More of this article »
Bank of America (NYSE: BAC), JPMorgan Chase (NYSE: JPM), and Others Halting Foreclosures
Major Banks have announced recently that they are halting foreclosures while they review their handling of the process. Ally Financial, the institution once known as GMAC, was the first to initiate such an order, and now other banks... More of this article »
Goldman Sachs (NYSE: GS) Makes Donation to Carnegie Mellon
Carnegie Mellon University, the esteemed research institution based in Pittsburgh, announced today that they have received a $2 million donation from Goldman Sachs Group Inc.’s (NYSE: GS) philanthropic arm. Currently, Carnegie Mellon... More of this article »
Goldman Sachs (NYSE: GS) Optimistic on Citigroup (NYSE: C), Bank of America (NYSE: BAC), Wells Fargo (NYSE:WFC), and JPMorgan (NYSE: JPM)
It’s always interesting to see how the banks rate each other. Often, the equity researchers for firms will publish news upgrading or downgrading key rivals, which always begets the question – how was this determined, and is it... More of this article »
JPMorgan Chase (NYSE: JPM) Invests in SunEdison
JPMorgan Chase & Co. (NYSE: JPM) has always been an innovator in the field. The House of Dimon pride’s itself on smart investments and sound business decision making, and along the way the firm has quickly become the model... 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 »
HSBC (NYSE: HBC) Plans Growth In America Region
The largest bank in Europe, HSBC Holdings Plc (NYSE: HBC) has set it’s aim on the U.S. market, in particular, high new worth customers. Andy Ireland, head of the American wealth unit said the firm has plans to more than double it’s... More of this article »
Bank of America (NYSE: BAC) Announces Prop Trading Layoffs
As the Dodd-Frank financial regulatory reform legislation comes into greater focus, the first issue many of the major banks seem to be dealing with revolves around their prop trading departments. Rumors abound that bands of prop traders... More of this article »
AIG (NYSE: AIG) Accelerating Payback
The Trouble Asset Relief Program (TARP) may be one of the most effective, yet simultaneously hated programs ever adopted by the public. The general public saw this program as a massive bailout by the taxpayers to the large, greedy... More of this article »
Treasury Department Liquidating Position in Citigroup (NYSE: C)
Today, the U.S. Treasury Department announced that it will sell a portion of the $2.2 billion in Citigroup’s (NYSE: C) trust preferred shares it received at the height of the financial crisis. It now looks like a pretty good deal... More of this article »
Goldman Sachs (NYSE: GS) Selling ICBC Shares
Ahead of next month’s quarterly earnings release, firms may be making one last push to fill the firm’s coffers with cash. Goldman Sachs Group Inc. (NYSE: GS) is planning to sell shares in the Industrial & Commercial Bank of... More of this article »
Citigroup (NYSE: C) Heads for Asia, Follows JPMorgan Chase (NYSE: JPM), Goldman Sachs (NYSE: GS), and UBS AG (NYSE: UBS)
Citigroup Inc. (NYSE: C) is seeking to expand in Asia, and has started brokerage operations out of Malaysia trying to capitalize on the growing market. The firm similarly opened offices in Indonesia last month, and Vietnam is believed... More of this article »
Wells Fargo (NYSE: WFC) Makes Progress on Re-Branding Wachovia Branches
Less than two years ago, Citigroup (NYSE: C) and Wells Fargo (NYSE: WFC) were embroiled in controversy on both of their planned acquisitions of Wachovia, the once venerable banking institution headquartered in North Carolina. While... More of this article »
FDIC Getting New Tools, Are JPMorgan Chase (NYSE: JPM), Citigroup (NYSE: C) and Bank of America (NYSE: BAC) Concerned?
During her September 2nd testimony, FDIC Chairman Sheila Bair expressed the need for new tools. Now, it seems like her wish has been granted. Under the Dodd-Frank law, the Federal Deposit Insurance Corp. will propose a measure to guide... More of this article »