KBW, the bank research firms, thinks Bank of America (BAC) will have to raise $10 billion in new capital. Its mix of real estate, LBO, business, and consumer credit debt still faces…
Douglas A. McIntyre According to Reuters, global companies may start to issue profit warnings as business slows overseas. Reuters reports that InBev is sticking to it offer to buy Anheuser-Bush (BUD). Reuters reports that Chrysler…
Oshkosh (OSK) Comes out with extremely week outlook. Sells down to $22.20 from 52-week high of $65.83. GM (GM) Big sell rating and possible credit rating downgrade. Economy catches up to Detroit.…
Today’s selling does not look orderly like it has on many other down days this year. The drop is across almost every sector and most widely-traded shares. Much of it is out…
If there were questions whether or not the first first of the large bank and lender deal would get done, it looks like that is history. Countrywide Financial Corporation (NYSE: CFC) has…
Douglas A. McIntyre According to Reuters, the fuel price increase in China may bolster consumption. Reuters writes that the Fed’s policy on inflation is starting to hurt the housing market. Reuters writes that the Bank…
Citigroup (C) came clean about what everyone with any sense already expected. Write-offs at the money center bank are not over. According to The Wall Street Journal, the "bank will see a…
Wall St. almost always takes the public proclamations of hedge funds and short sellers with a grain of salt. But, some of the recent negative comments about Lehman Bros. may well have…
MGIC Investment (MTG) Money still moving out of bond insurers. Down to $8.75 from 52-week high of $62.94. US Airways Group (LCC) Oil prices up driving airlines down. Company say fuel bill…
From the viewpoint of pessimists, it was just a matter of time. The run-up in financial shares which began in mid-March would be tomahawked by a flailing economy and the leprosy of…
It turns out that Frank Mozilo, head of Countrywide (CFC), was passing out special mortgages to people including two former chiefs of Fannie Mae (FNM). Countrywide did business with the quasi-government operation,…
Douglas A. McIntyre Washington Mutual (WM) More banking concerns. Hammered to $7.12 from 52-week high of $44.19. Bank of America (BAC) Death to all bank stocks. Sees $30.56 from 52-week high of $52.96. National City…
Indevus Pharmaceuticals (IDEV) Bad news on drug trial. Falls to $1.21 from 52-week high of $8.22. Ambac (ABK) Possible downgrade by Moody’s. Drops to $2.45 from 52-week high of $89.33. MBIA (MBI)…
Standard & Poor’s has come out with a report that is actually weighing down on the entire market even though it is sector specific. The ratings agency has cut ratings on several…
Billions of dollars in losses and a falling stock price can cost a CEO his job. Wachovia (WB) announced today that its current Chairman, Lanty Smith, has been appointed interim Chief Executive…