Citigroup’s (C) Prince: Fire Them All
The FT writes that Citigroup (C) is investigating why it had $3.3 billion of losses and writedowns in its markets and banking business. No one has lost a big job over the Citi news.…
Banking, finance, and taxes
All Banking, finance, and taxes Articles
Newest first · Page 314Countrywide’s (CFC) PR Blunder
"You can fool some of the people all of the time and all of the people some of the time. But, you cannot fool all of the people all of the time."–Abe Lincoln Countrywide…
Deutsche Bank (DB) To Take $3.3 Billion Charge
Deutsche Bank (DB) will take a $3.3 billion write-off for leveraged loans and other fixed income products, according to several media reports. Douglas A. McIntyre
Commerce Bancorp Gobbled Up By TD (CBH, TD)
Commerce Bancorp (NYSE:CBH) is being acquired by TD Bank Financial Group (NYSE:TD) of Canada for roughly $42.00 per share. The deal is 25% cash with $10.50 cash and 0.4142 shares of TD in a…
Zecco Changes Gears
Zecco will move from 40 free trades a month to 10 free trades. Very few customers trade more than 10 times, according to the company’s management. Traders who go over 10 will be charged…
Citi’s News Actually Sector Relief (! or ?) (C, UBS, BAC, WB, WFC, FITB)
After seeing Citigroup’s (NYSE:C) news this morning and listening to snippets of the conference call, it seems that at 9:00 AM when shares were down 2% would have been a much easier direction to…
Acxiom’s Hopes Of Another Offer Seem Dim (ACXM)
It is of little surprise that shares of Acxiom Corp. (NASDAQ:ACXM) are hitting new 52-week lows today. That isn’t a first, but this after the fears have come true and the private equity acquisition…
First UBS (UBS), Then Citi (C): Who Owns The Next Shoe?
UBS (UBS) and Citi (C) have both announced huge write-downs on their fixed income portfolios due to tight credit and deteriorating credit markets. Watch all of the big money center banks and investment banks…
UBS Expects Mega-Loss For Q3
The Wall Street Journal is reporting the UBS will write off the value of a number of instruments held in its fixed income division. Some of these are securities tied to mortgages. The Journal…
Why Is NetBank Still Open? (NTBK)
If you have followed the saga of NetBank (PinkSheets:NTBK), this has been a long slow death. We’ve been reviewing this on and off for some time and never with anything positive, at least not…
Duff & Phelps Gets A Welcome Mat From Wall Street (DUF)
Duff & Phelps Corporation (NYSE:DUF) priced its initial public offering of 8,300,000 shares of common stock at $16.00 per share, and Wall Street is greeting it with open arms. This is a leading independent…
Mergers Closing For Vote (FLEX, SLR, PYX, ENR, NWRE, HPQ, AGE, WB, AV, RARE, DRI)
This week we have many mergers coming up for approval from shareholders, and many of these will no longer be trading after this week. Here is a partial list of the more active stocks…
Sallie Mae Knows Her Merger Is Toast (SLM, JPM, BAC)
SLM Corp. (NYSE:SLM), or Sallie Mae, has announced that it has been informed by a representative of the buyer group led by J. C. Flowers, Bank of America (NYSE:BAC) and JPMorgan Chase (NYSE:JPM) that…
Will Warren Buffett Take Control Of Bear Stearns
The New York Times is reporting that Warren Buffett may be one of the people looking at taking a large interest in Bear Stearns (BSC), perhaps 20%. Bank of America (BAC) and Wachovia (WB)…
Green Private Equity Fund, With a Hockey Twist
Michael Richter, former All-Star goalie for the New York Rangers, has announced the formation of Environmental Capital Partners, LLC as a private equity firm focused exclusively on the environmental industry. “ECP” has formed a…