Wall St. Pay Tumbles After Weak Year
What the Occupy Wall Street crowd could not do, the financial sector of the economy has done. People who work at banks and investment banks will make less money this year. And why not?…
Banking, finance, and taxes
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Newest first · Page 167Kodak Image Sensor Unit Sale… Is It Giving Away Its Future? (EK)
Eastman Kodak Company (NYSE: EK) is trading higher in the after-hours on news that it has completed the sale of its Image Sensor Solutions business to Platinum Equity. Our question is simple: Is Eastman…
Economy Wounds Bank Loans
Banks have returned to the period when a rough economy kept them out of the loan business. This is particularly bad news for those seeking mortgages and small businesses. Unfortunately, these two type of…
Sprint’s Note Offering Rescues Clearwire (S, CLWR)
Sprint Nextel Corporation (NYSE: S) is coming to the aid of Clearwire Corporation (NASDAQ: CLWR). Sprint has been known (or thought of) to be a capital raising entity and this morning we are getting…
What’s Important in the Financial World (11/4/2011) MF Global Scandal, Groupon IPO, AMD Layoffs
The fate of Greece remains undetermined. Rumors are that Prime Minister George Papandreou will leave as part of a brokered agreement to get the opposition party to support austerity measures. There are also rumors…
The Mob Turns on Jefferies, Despite Refuting News & Rumors (JEF)
The markets have a “shoot first and ask questions later” mentality that is not really working too well for Jefferies Group, Inc. (NYSE: JEF) right now. After the MF Global implosion, investors are looking…
Rising Credit Card Use May Be Mixed Blessing (MA, V, AXP, COF, DFS, BAC, JPM, C)
MasterCard Inc. (NYSE: MA) absolutely crushed estimates this morning, reporting third-quarter EPS of of $5.63 on revenue of $1.82 billion. Consensus estimates were aiming for EPS of $4.81 on $1.7 billion in revenue. The…
Human Genome Sciences Back to Drinking from the Capital Well (HGSI)
Human Genome Sciences Inc. (NASDAQ: HGSI) is raising capital. The company announced the sale of $400 million in Convertible Senior Notes which will mature in 2018. These notes are convertible into common stock and the…
The Global Financial Industry Continues to Crumble
Nearly lost in the news that MF Global (NYSE: MF) has collapsed under the strain of poor gambles about the EU’s future were announcements from larger banks that will cut their staffs. This is…
The End of MF Global (MF, CME, ICE)
MF Global Holdings Ltd. (NYSE: MF) has been halted pending news this Monday. Workers may be allowed into the offices, but the firm is being cut off from transacting business. The company issued a…
Will Bank of America Back Away From Its Debit Card Fee?
Bank of America (NYSE: BAC) may not put the monthly $5 debit card fee it planned into place after all. The monthly toll was to be charged to customers who use the cards for…
What Worries? Goldman Sachs 50-Year Bond Offering (GS, GSJ)
GS.COMGoldman Sachs Group Inc. (NYSE: GS) stunk this week when it reported one of its few operating losses ever. What is interesting is that shares have risen with the banking sector. The loss may…
BofA Grows Book Value, Trades At Deep Discount On Earnings (BAC, C, JPM)
Bank of America Corporation (NYSE: BAC) is trading lower after its earnings report, but there are some points in here that can appeal to both bulls and bears alike. The ban reported earnings of…
UBS Economist: No 2011 U.S. Recession (UBS)
Many reports have been signaling that the United States is about to slide into another recession, and many have noted over and over that the recession is either already here or never really went…
Citi Sneaks Past Earnings Estimates, Huge Discount To Book Value (C, JPM)
Citigroup, Inc. (NYSE: C) is out with earnings and the headline figure looks like a substantial beat at $1.23 EPS versus $0.82 EPS estimates. The headline number includes an accounting benefit of $0.39, similar…