Bank of America (NYSE: BAC) CEO Brian Moynihan has no credibility left on Wall St. That makes his comments that the financial firm’s balance sheet has improved hard to believe. Skepticism will continue…
A New Bailout Fund. Rumors suggest that leading eurozone nations, particularly France and Germany, may have begun the process to create a large bailout fund for the financially weak nations in the region.…
According to media reports, Citigroup (NYSE: C) will fire 4,500 people MarketWatch reports The bank will make the cuts which are less than 2% of its workforce, in an effort to trim costs,…
Douglas A. McIntyre In a threat to a national settlement related to the foreclosure “robo-signing” investigation, the attorney general of Massachusetts has filed suit against Bank of America Corp. (NYSE: BAC), J.P. Morgan Chase &…
New from ADP that the private sector added 206,000 jobs this month helped push stocks higher. The three major exchanges–DJIA, NASDAQ, and S&P 500 were up nearly 3% Some stock of major…
Corporations can spend hundreds of million dollars just so they can put their name on a major league sports stadiums. 24/7 Wall St. looked that the 13 largest stadium-naming rights deals and…
Standard & Poor’s is at it again… more downgrades and this time in the ailing banking sector. While we focused solely on the U.S.-based banks here, the downgrade was handed aimed at…
S&P may cut its outlook on France’s AAA debt. (Reuters) A judge blocks the $285 million settlement between Citigroup (NYSE: C) and the SEC. (Reuters) Amazon.com (NASDAQ: AMZN) says Kindle sales rose…
US indices rose over 3%. The DJIA was higher by 2.83% to 11,549. The NASDAQ was higher by 3.58% to 2,529. The S&P was up by 3.23% to 1,196. The stocks of…
The new proposed stress tests are just one more thorn in the side for the banking sector, but analysts from Dick Bove to Meredith Whitney, as well as value and bargain investors and…
China’s factory activity reaches a 32-month low. (Reuters) Merck (NYSE: MRK) pays $950 million to settle Vioxx charges brought by the government. (Reuters) FCC head wants more examination of the AT&T (NYSE:…
A drop of 8% in GDP, 13% unemployment, and another period of interrupted access to the capital markets… Those are just some of the new Federal Reserve stress test scenarios which banks will…
Greek citizens stage large protests. (Reuters) Citigroup (NYSE: C), Bank of America (NYSE: BAC) and Morgan Stanley (NYSE: MS) could be affected when S&P updates its credit ratings on the world’s 30 largest…
Fitch is warning that U.S. banks could be adversely affected unless the Eurozone debt crisis “is resolved in a timely and orderly manner.” The mention is a warning that the credit outlook…
Updated throughout the day Olympus will take legal action against several executives involved in a frauds discovered recently (Reuters) The securities division of Citigroup (NYSE: C) will cut 900 people. Douglas A.…
Douglas A. McIntyre 
