According to Reuters, the economy contracted in the third quarter as consumer spending dropped sharply. Reuters writes that Fidelity Magellan Fund bought shares in big banks in September including Bank of America…
The large money center banks never planned to take the money they are getting from the government to make loans. The equity investments will be used to shore up capital, which is…
Citigroup (C) is not going to make it, at least not an an independent company. The FT has reported that the head of Goldman Sachs (GS) called Citigroup CEO Vikram Pandit to…
For the period ending October 15, short sellers got out of most banks and brokerage stocks. That is a shame for them. They could have made a killing this week. The short…
This is obviously one of our ugliest mornings in years with futures trading limit down. What is interesting is that the financial stocks are the most leveraged to this, yet oddly enough…
Goldman Sachs repeated its opinion that Citigroup (C) is a "sell" and probably would not make a cent until late in 2009. Goldman claims that credit markets are too tough for Citi…
Analysts often as about "earnings quality". How accurate are quarterly numbers? Are they being "managed" to make a company’s fortunes appear better than they actually are? The question has come up in…
Google’s (GOOG) earnings are ancient news now. The search company did much better than expected. The economy did not bring it down like a rhino killed off in the wild. The company’s…
Henry Paulson seems like a very large and old Eagle Scout. He would never mislead, at least not on purpose. He gave the impression as he announced that Treasury would dump $250…
A lot of people on Wall St. were worried about the future of Merrill Lynch (MER) and were glad when Bank of America (BAC) bought it. Now, Bank of America may be…
Douglas A. McIntyre These are some of the top analyst upgrades we are seeing in early hours of pre-market trading this Tuesday morning: AON Corp. (AOC) Raised to Buy at Goldman Sachs Bank Of America…
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…