Citigroup (C) Can’t Be Fixed: A $10 Stock?
It may be that Citigroup (C) will never be fixed. According to Oppenheimer & Co analyst Meredith Whitney the bank "will be forced to announce the sale of major businesses toward the end of…
Banking, finance, and taxes
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Newest first · Page 284AIG (AIG) And ILFC: Another Case For Financial Conglomerate Break-Ups
International Lease Finance Corp (ILFC), the big aircraft lending business owned by AIG (AIG) is being pulled down by the financial woes of its parent. It makes money, which AIG does not. Its business…
Can Citi Find $400 Billion in Assets to Sell? (C)
Last night we saw news out of the Financial Times reporting that Citigroup, Inc. (NYSE: C) was on tap looking to unload some $400 Billion. The plan is set for today’s analyst meeting, although…
AIG Uses Dividend & Capital Raise To Mask Horrible Losses (AIG)
American International Group (NYSE: AIG) showed a wider-than-expected loss for the quarter. More importantly, it plans to raise more than $7 billion to buttress its balance sheet. Its net loss was -$3.09 per share,…
CO2 Trading Going Mainstream (NDAQ, NMX, CME)
In the 1990’s, carbon certificate trading was mostly unheard of. This has also been largely untapped by American companies and by the American public. Until Now. The New York Mercantile Exchange, Inc., the subsidiary…
Blackstone Closed on 3 CLOs in Q2 So Far (BX)
Blackstone Group has announced the closing of three newly created collateralized loan obligation funds totaling $1.3 billion. Yep, CLOs. These were all created over the past month.
As UBS (UBS) Cuts 5,500 Jobs, Wall St. Prepares For More Lay-Offs
UBS (UBS) telegraphed all ships in the known world as it sank into the Atlantic like the Titanic. The big bank will fire 5,500 poor souls and sell $15 billion of its subprime mortgage…
IPO Filing: NewPage (NWP)
NewPage Group Inc. has submitted its IPO filing late today. It has taken the proposed ticker of "NWP" on the New York Stock Exchange. So far, Goldman Sachs is listed as the only lead…
Punk Ziegel Now Under Ladenburg Thalmann (LTS)
Ladenburg Thalmann Financial Services Inc. (AMEX: LTS) has announced the completion of the acquisition of Punk, Ziegel & Company, L.P as previously announced in March for an undisclosed amount, pending approval by FINRA. Punk,…
Investors Look To Invest In Canadian Stock Exchange (TSX)
XTM eXchange Split Corp. filed it public paperwork this morning. The offering of common shares and Priority Equity Shares is an investment in TXM Group (TSX: X)—a combination of TSX Group, the operator of…
Citigroup (C): Chief Pandit Needs To Be Sacked, But Who Replaces Him?
Late word is that the hedge fund business that Citigroup (C) CEO Vikram Pandit sold to the bank for $800 million has lost a huge amount of its value. All of the outside investors…
Investools Hit By Double Whammy (SWIM)
Investools Inc. (NASDAQ: SWIM) is under serious fire this morning from traders. The company posted net income of $0.17 EPS, but First Call was at $0.21 EPS. This is on a record revenue with…
Rights Offering Pounds Guaranty Financial Group (GFG)
Guaranty Financial Group (NYSE: GFG) announced an offering of subscription rights to its shareholders. The terms have not yet been set for the non-transferable subscription rights although the subscription price will likely be at…
Pimco Combs Through Wall St. Unemployeed
Pimco, the huge bond manager, is doing just fine during the financial meltdown. It probably avoided putting money into risky mortgage-backed paper. As the national credit crisis got worse, investing in bonds became more…
Citigroup (C): A Promise Broken
The promise from Wall St. firms was implied, not spoken. The heads of operations like Morgan Stanley (MS) and Merrill Lynch (MER) said that the worst was probably over in the credit markets. It…