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…
Firestone. American Motors. Texaco. Pan Am. Worldcom. At one point or another these large American companies were at the top of their industries. Pan Am was the leading global airline for decades.…
Senior officials of the US Treasury Department are sneaking around Davos trying to get the managers of big sovereign funds from Asia and the Middle East to sign a code of conduct. …
Bank of America (NYSE: BAC) has just posted earnings at $0.05 EPS, while First Call had estimates at $0.18 on last look. Net income was actually $268 million in the quarter even…
Douglas A. McIntyre Tuesday could bring a 1,000 point drop on the Dow, especially if markets in Asia and Europe repeat their Monday performances tomorrow. China’s big Hang Seng index fell 5.5% to 23,818. The…
Sprint (S) Lay-offs and weak subscriber numbers. Falls to $8.15 from 52-week high of $23.42. Under Armour (UA) Weak forecast kills shares. Drops to $26.52 from 52-week high of $73.40. Seagate (STX)…
Accordiing to Reuters, Sony Ericsson posted strong results and said it was improving market share. Reuters writes that Intel (INTC) missed forecasts driving its shares down. Reuters reports that Boeing (BA) is…
Bank of America (BAC) has bought Countrywide Financial (CFC) for about $4 billion. The move makes BAC the largest mortgage lender in the US. Douglas A. McIntyre
Douglas A. McIntyre Yesterday, news hit the market, beginning with a report in The Wall Street Journal, that Bank of America (BAC) was thinking of buying troubled mortgage bank Countrywide Financial (CFC). At one point…
Douglas A. McIntyre 