E*TRADE Financial Corp. (NASDAQ: ETFC) posted its loss after the close. The company posted a -$0.19 non-GAAP EPS loss while First Call had estimates at -$0.14 EPS. The company set aside some $319.1 million…
State Street Corporation (NYSE: STT) has announced that its State Street Global Advisors unit is launching 10 new SPDR exchange-traded funds, which are supposed to begin trading on the American Stock Exchange today. SPDR(R)…
One of the most odd piece of financial news so far this year is that the federal government is sending in some of its accounting experts to see what the books of Fannie Mae…
American Express (NYSE: AXP) just posted $0.56 EPS on $7.484 Billion in revenues, although we would note that there are items in these results from continuing operations. First Call had estimates of $0.83 EPS…
BankAtlantic Bancorp (NYSE:BBX), the parent company of BankAtlantic, is doing something rather unique. It is suing brokerage firm Ladenburg Thalmann, part of Ladenburg Thalmann Financial Services Inc. (AMEX: LTS), and its bank analyst Richard…
The idea of breaking Citigroup (C) into pieces is hardly new. From the day Sandy Weill threw the place together, many analysts could see no benefit to an umbrella company holding everything from a…
It now appears that Freddie Mac (FRE) will raise about $10 billion. The only trouble with that is that its current market cap is only $6 billion. For shareholders, the news is almost as…
At the start of the year, many Wall St. analysts and much of the media give the impression that the current financial crisis would pull down all large US banks and brokerages. With the…
Credit Suisse Group (NYSE: CS) has announced that Erin Callan will be joining the bank as a Managing Director and Head of its Global Hedge Fund Business in a newly created position based in…
UBS AG (NYSE: UBS) has a filing today showing that based on action of July 10 the Government of Singapore Investment Corporation Pte. Ltd. effectively now holds a 7.9% stake in the company. The…
The Blackstone Group (NYSE: BX) has announced that it will form a partnership with Windland Energieerzeugungs GmbH to complete the development and construction of Meerwind. This is billed as one of the North Sea’s…
Lehman (LEH) may find that the best way out of the painful drop in its stock is to go private. If the investment house is right and Wall St.’s perception of it is too…
Yesterday, a number of bank and mortgage company stocks began the day up sharply, with Fannie Mae (FNM), Freddie Mac (FRE), and Lehman (LEH) out in front. By the end of the day, most…
Citigroup’s (C) CEO, Vikram Pandit, wasted the time of three dozen or so of his top executives. He took them on a retreat and laid out what he called “Rules of the Road." a…
Washington Mutual Inc. (NYSE: WM) is looking exactly like "The Good, The Bad, and The Ugly." The difference is that this one is real instead of a movie. Shares are down yet another 29%…