According to Reuters, gas price are at $3.20 a gallon and could rise another $.20 to $.30 in the next month. Reuters writes that Chevron will develop two major projectsw in Asia.…
The FBI is looking into whether Countrywide (NYSE: CFC) committed securities fraud by making false statements about the mortgage bank’s financial position. The Wall Street Journal writes that a "potential issue facing…
Douglas A. McIntyre The short interest on the NYSE hit an all-time record for the period ending February 29. Figures by company compare to shares sold short on Ferbruary 15. Financial firms had significant increases…
A number of the large financial stocks took news of a write-down at UBS (NYSE: UBS), debt problems at Merrill Lynch (NYSE: MER), and downgrades of Thornburg (NYSE: TMA) hard. Hitting 52-week…
Several brands which were extremely powerful during the last few decades are about to disappear. Many of them no longer drive big sales. Some are a part of companies that are in…
Short interest in companies traded on the NYSE increased for a number of financial firms based on positions as of February 15. The data compares to numbers on January 31 Shares sold…
The US Treasury is encouraging several large banks, lead by Citigroup (C) and Bank of America (BAC) to freeze foreclosures for 30 days while they sort out which homeowners should get restructured…
It’s been a while since we have seen any serious changes to the Dow Jones industrial Averages components, with 2004 being the last change and 1999 before that. This morning there are…
Short interest in financial stocks generally fell in NYSE figures for January 31. Numbers compare to January 15. Shares sold short in Countrywide (NYSE: CFC) fell 52.7 million to 114.2 million. Shares…
According to Reuters, Chinese mining group Chinalco and Alcoa (AA) have bought 12% of Rio Tinto (RTP) setting up a potential bid against BHP Billiton (BHP). Reuters writes that Motorola (MOT) is…
A hedge fund is claiming that Countrywide Financial (NYSE: CFC) is selling itself too cheaply to Bank of America (NYSE: BAC). SRM GLOBAL FUND GENERAL PARTNER LIMITED has filed a Schedule 13D. …
Douglas A. McIntyre Bank of America (BAC) says that its deal for buying mortgage-bank Countrywide (CFC) is on track despite the M&A target’s big fouth quarter loss. “Everything is a `go’ to complete this transaction,”…
Douglas A. McIntyre According to Reuters, another Fed rate cut may stimulate the housing market. Reuters reports that profits at American Express (AXP) fell 10%. Reuters writes that McDonald’s (MCD) will open 150 outlets in…
As far as anyone knows, Bank of America (BAC) is buying Countrywide Financial (CFC). The CFC stock price would indicate that the market has its doubts about whether the deal will close.…
Douglas A. McIntyre According to Reuters, gaps in controls at Societe Generale allowed a junior trader to make at $73 billion losing bet on European shares prices. Reuters writes that Countrywide’s (CFC) CEO will give…
