Analysts assume third quarter earnings for the companies in the S&P 500 will be bad. But, looking at the number which is the average of all firms in the index is misleading.…
According to Reuters, the Treasury will make $250 billion directly into banks. Ciitgroup (C) and JPMorgan (JPM) would get $26 billion each. Merrill Lynch (MER) and Bank of America (BAC) would each…
A few days ago, it would have been nearly impossible to believe that the deals for Bank of America (BAC) to buy Merrill Lynch (MER), for Mitsubishi UFJ to buy 20% of…
According to Reuters, the US Treasury may buy interests in large banks following the model set up by the UK. Reuters reports that IBM’s (IBM) earnings strength helped calm tech investors. Reuters…
Bank of America Corp. (NYSE: BAC) is being taken to the cleaners this morning. Shares closed down sharply yesterday at $23.77 after closing at $32.22 just the day before. Bank of America…
These are some of the top pre-market analyst upgrades we are seeing this Wednesday morning: AMAG Pharmaceuticals (AMAG) Started as Overweight at JPMorgan Andersons (ANDE) Started as Outperform at Oppenheimer Bank of…
Physicians who spend time in emergency rooms are trained to work on the patient and separate themselves from his pain. Doctors have learned that they must diagnose and solve problems efficiently because…
Vikram Pandit, CEO of Citigroup (C), should be so lucky as to have Wells Fargo (WFC) steal the buyout of Wachovia (WB) from him. Citi has gone into court asking $60 billion…
The UK has begun a partial nationalization of its major banks. The move may well include some of Britain’s largest financial firms such as Barclays (BCS) and HSBC (HBC). The government views…
According to Reuters, US markets fell to five-year lows. Reuters writes that Wells Fargo (WFC) could end up with over 75% of Wachovia;s (WB) deposits. Reuters reports that Morgan Stanley’s (MS) deal…
According to Reuters, Bank of America (BAC) reported weak earnings and cut its dividend. Reuters reports that Wells Fargo (WFC) and Citigroup (C) agreed to drop litigation for now and negotiate over…
Bank of America Corporation (NYSE: BAC) issued earnings early and simultaneously announced new capital raising and preservation initiatives. The banking giant said that quarterly net income was $1.18 billion, or $0.15 per…
Douglas A. McIntyre According to Reuters, regulators around the world are trying to shore up the banking system. Reuters reports that the Fed is trying to broker a deal for whether Citigroup (C) or Wells…
Vikram Pandit has been the CEO of Citigroup (C) for ten months. The only thing he has done right is collect $216 million in compensation. Much of that was for the sale…
According to Reuters, the House will vote on the bailout bill today. Reuters reports that JP Morgan (JPM) will not keep the CEO of WaMu. Reuters reports that John Thain of Merrill…
