Oppenheimer says that Merrill Lynch (MER) lost $5.8 billion in the second quarter. The analysis also says Merrill will cut is dividend. According to MarketWatch, Oppenheimer analyst Meredith Whitney also slashed Merrill’s full-year estimate…
Fiserv Inc. (NASDAQ: FISV) has announced a rather interesting move, and interestingly enough all that will be accomplished on the surface is a direct shrinkage of the company. The company has announced that it…
Liquidnet Holdings Inc. has filed for an initial public offering to sell up to $500 million as the nominal securities amount. This is going to be a somewhat more complicated IPO as the structure…
KBW, the bank research firms, thinks Bank of America (BAC) will have to raise $10 billion in new capital. Its mix of real estate, LBO, business, and consumer credit debt still faces substantial write-downs.…
CIT Group Inc. (NYSE: CIT) is going to be one of today’s winners in the financial services sectors. So it looks as of this morning. The company has sold two home lending units for…
These are some of the top analyst calls for the financial services group we have seen in the early hours of trading this Tuesday morning: American Express (NYSE: AXP) raised to Neutral at UBS.…
MBIA Inc. (NYSE: MBI) decided to speak out against some recent speculation and some recent reporting on its overall health. The company has said that as a result of Moody’s downgrade of MBIA Insurance…
Hicks Acquisition Company I, Inc. (AMEX: TOH) has reached an agreement in principle to go from SPAC to operational. The deal and terms are subject to execution of a definitive agreement, although the company…
Citigroup (C) has decided to change its bonus structure so that senior management will be paid on the results of the entire bank instead of the success of their individual operations. It will lump…
These are some of the calls in the financial sector that are impacting shares at major financial companies this Thursday morning: Barclays (NYSE: BCS) Raised to Overweight at Morgan Stanley. Citigroup (NYSE: C) downgraded…
If there were questions whether or not the first first of the large bank and lender deal would get done, it looks like that is history. Countrywide Financial Corporation (NYSE: CFC) has announced that…
The Wall Street Journal has reported that The Blackstone Group LP (NYSE:BX) will invest some $500 million into a new pipeline company, Crestwood Midstream Partners LLC. Crestwood was formed in December 2007, with an…
MasterCard Incorporated (NYSE: MA) has just announced it has reached an agreement to settle its outstanding litigation with American Express (NYSE: AXP). The company says the tax-affected net present value of the settlement will…
The market was happy to see Barclays (BCS) raise nearly $8.9 billion. The stock traded up in London. No one seems to care that the need for capital meant the firm was running out…
NYSE Euronext (NYSE Euronext: NYX) has signed a strategic partnership with the State of Qatar in a bid that may transform the Doha Securities Market. The visibility is aimed to make Doha’s market an…