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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 »
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 »
Former JPMorgan (NYSE:JPM) Cazenove Partner Malcolm Calvert Convicted of Insider Trading
In a somewhat surprising finish to a high-level trial in Britain, former JPMorgan (NYSE:JPM) Cazenove partner Malcolm Calvert was convicted five counts of insider trading. The lawsuit was filed by the Financial Services Authority,... More of this article »
Goldman Sachs (NYSE:GS) Attempting to Stop Shaw Communications (TSE:SJRb) from Acquiring Canwest TV Unit
Saying in a filing to a Canadian appeals court, Goldman Sachs (NYSE:GS) said that the lower court in their decision to allow the acquisition of the Canwest TV Unit by Shaw Communications (TSE:SJRb) “utterly failed in its duty... More of this article »
Bank of America (NYSE:BAC) Attorneys Pay Legal Fees for Cabi Downtown Lawyers After Judge Criticizes Them
Although they weren’t required to do it, attorneys for Bank of America (NYSE:BAC) decided to voluntarily pay the legal fees of their opposing lawyers in the Cabi Downtown case, where the judge state they were attempting to only... More of this article »
Morgan Stanley (NYSE:MS): SEC Dark Pool Regulation “Too Granular”
In a letter to the Securities and Exchange Commission, Morgan Stanley (NYSE:MS) said the SEC needed to reconsider their regulatory proposal, saying it was too “granular.” The SEC is looking at dark pools in a more mechanical... More of this article »
Is Investing in Citigroup (NYSE:C) a Fool’s Game at this Time?
While shares of Citigroup (NYSE:C) have had a nice upward swing lately, reaching its 2010 high of $3.81, and up by about 12 percent over the last several days, it seems a rather irrelevant event in my opinion, and nothing in the fundamentals... More of this article »
Union Pension Fund Sues Goldman Sachs (NYSE:GS)
The pension fund of the International Brotherhood of Electric Workers has sued Goldman Sachs (NYSE:GS), claiming the company paid their executives too much money, and are seeking to recover some of it for their shareholders. This isn’t... More of this article »
JPMorgan Chase (NYSE:JPM) Touting Increased Lending to Small Businesses
JPMorgan Chase (NYSE:JPM) has been marketing its success at providing loans to small businesses after given them a “second look.” The second look theme came from Washington in hopes some of the original companies rejected... More of this article »
Citibank (NYSE:C) Economist: Russian Ruble Rising as Central Bank Attempts to Cool it Off
The Russian ruble has surged to a 14-month high today as, and, according to Elina Ribakova, chief economist at Citibank (NYSE:C), the central bank of Russia is searching for ways to slow the rise down as investors are looking to the... More of this article »
Wells Fargo (NYSE:WFC): HAMP a Disaster
In view of the disaster HAMP has become, Wells Fargo (NYSE:WFC) was recently asked by president of NAB Research when the program would end for them, considering they have about 15,000 people working on and in it. Nancy Bush, the NAB... More of this article »
U.S. Steel (NYSE:X) Up On Goldman Sachs (NYSE:GS) Upgrade
After Goldman Sachs (NYSE:GS) analyst Sal Tharani upgraded U.S. Steel (NYSE:X) from “neutral” to a “buy,” U.S. steel surged 2 percent quickly reach over $60 a share. Along with the upgrade, Tharani increased... More of this article »
Morgan Stanley (NYSE:MS) Hires Gary Shedlin Away from Citigroup (NYSE:C)
Morgan Stanley (NYSE:MS) has reportedly hired Gary Shedlin, the chairman of Citigroup’s (NYSE:C) investment banking Financial Institutions Group. A spokeswoman for Morgan Stanley said the role of Shedlin at the company will be... More of this article »
Shareholder Approval for Prudential Plc Buying AIG Unit not a Surety, Says Bank of America (NYSE:BAC) Analyst
According to Bank of America (NYSE:BAC) analyst Blair Stewart, the attempt by Prudential Plc to acquire an Asian unit of American International Group is not a guarantee at this time, as it’s possible shareholder approval may... More of this article »
JPMorgan (NYSE:JPM), Citicorp (NYSE:C), Bank of America (NYSE:BAC) and Morgan Stanley (NYSE:MS) Sued by Tribune Bondholders
Bondholders of Tribune, in connection to the Chapter 11 bankruptcy case, have sued JPMorgan (NYSE:JPM), Merrill Lynch Capital Corp.,Citicorp (NYSE:C), Bank of America (NYSE:BAC) and Morgan Stanley (NYSE:MS) over the financing of the... More of this article »
Citigroup (NYSE:C) Hearing: “There is No Too Big to Fail”
After laying into Vikram Pandit about the size of Citigroup (NYSE:C) yesterday, and the need to take steps to shrink the company down to levels where they aren’t a hazard to the rest of the country, it got even more interesting.... More of this article »
Wells Fargo (NYSE:WFC) to Hire 10,000 Brokers
Wells Fargo (NYSE:WFC) is going to hire another 10,000 brokers going forward, according to a company spokeswoman, who confirmed the story which had been circulating since last night. As far as the time frame this is going to happen... More of this article »
Bank of America Corp. (NYSE:BAC), JPMorgan Chase & Co. (NYSE:JPM), Wells Fargo & Co. (NYSE:WFC) and Citigroup Inc. (NYSE:C) Buying Back $21 Billion in Home Loans
Fannie Mae and Freddie Mac are reportedly going to force Bank of America Corp. (NYSE:BAC), JPMorgan Chase & Co. (NYSE:JPM), Wells Fargo & Co. (NYSE:WFC) and Citigroup Inc. (NYSE:C) ot buy back up to $21 billion in residential... More of this article »
Wells Fargo (NSYE:WFC) Economist: Housing Weaker than Believed to Be
Do you ever wonder why every time we hear some economic news that doesn’t line up with the official line, the term “unexpected” is used, as if the government or someone else is completely caught off guard by it. That’s... More of this article »
JPMorgan (NYSE:JPM), Morgan Stanley (NYSE:MS) Land Stroer IPO
JPMorgan (NYSE:JPM) and Morgan Stanley (NYSE:MS) have landed the deal to help Stroer Group launch their initial public offering. Stroer Group is a large outdoor advertiser based in Germany. Stroer will launch its IPO on the Frankfurt... More of this article »
Citigroup (NYSE:C) Survives Only Because of Government Support
A government watchdog talking to Citigroup (NYSE:C) Chief Executive Officer Vikram Pandit said the company would be in a far more difficult position if the government if the government essentially didn’t guarantee the company.... More of this article »
Bank of America (NYSE:BAC) Sells Warrants for $1.57 Billion
Auctioning off the warrants from the TARP bailout funds netted Bank of America $1.57 billion, making it the largest auction of these types of securities ever partaken in by the Treasury Department. There were two groupings of warrants,... More of this article »