Bank uber-analyst Meredith Whitney wrote in The Wall Street Journal that the economy will have more problems as banks take credit cards away from people to prevent bad debt write-offs. She says…
According to Reuters, Obama spoke about the economy with optimism as his aides defended the budget. Reuters reports that a Senate panel will question Swiss banking’s secrecy policy. Reuters reports that foreclosures…
These are the top pre-market analyst upgrades and downgrades we have seen from Wall Street this Friday morning: Adaptec (ADPT) Raised to Outperform at Morgan Keegan. Cubist Pharamceuticals (CBST) Started as Accumulate…
According to Reuters, Obama has dropped the idea of appointing a “car czar”. Reuters reports that Japan’s GDP is dropping at an annual rate of over 13%. Reuters reports that the Administration…
Visa, Inc. (NYSE: V) has posted very pleasing earnings, one of the few bits of good news in the financial sector. The credit card processing giant earned $0.78 EPS on an adjusted…
If you hadn’t gotten your full round of pre-weekend economic gloom, famed investor Julian Robertson of Tiger Management just gave an interview with CNBC’s Erin Burnett. He is cautious about what lies…
These are some of the top downgrades and negative research calls we have seen from Wall Street analysts this Friday morning: AbitibiBowater (ABH) Cut to Underperform at Raymond James. Amcore Financial (AMFI)…
KeyBanc is lowering estimates and price targets for payment processors, including MasterCard (NYSE: MA) and Visa (NYSE: V). The firm said they are taking a far more cautious approach than the Street…
How can the worst retail holiday season in years get worse? It can become the worst holiday season since anyone kept accurate records. There have been signs for several weeks that e-commerce…
According to Reuters, as investors moved to cash, oil has come down, but that is not likely to last. Reuters writes that data from MasterCard (MA) shows holiday spending may have dropped…
Just when credit card issuers from Mastercard (MA) to Citigroup (C) need the extra money due to deadbeats, the federal government is going to make it hard for them to get it.…
According to Reuters, the House passed a $14 billion bailout bill. Reuters reports that according to Mastercard (MA) retail sales fell sharply in November. Reuters writes that Congress criticized Treasury over its…
Mastercard (MA) has a unit which tracks retail sales. The numbers that it posted for November are almost too horrible to believe. According to The Wall Street Journal, new data from MasterCard…
Douglas A. McIntyre According to Reuters, a bailout of US car companies gained support in Congress as GM (GM) and Chrysler said they needed money immediately to stay in business. Reuters reports that Merrill will…
According to Reuters, the US government gave Citigroup (C) a bailout worth over $300 billion. Reuters reports that the rescue of Citi failed to dispel concerns about the financial market as some…
