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 There have been major reports for days and weeks that have revolved around many financial services, banks, lenders, and the like merging. The truth is that the carnage in the financial sector…
A report at WSJ.com says that Bank of America (BAC) is in advanced talks to buy Countrywide (CFC). CFC shares are up 43% on the news Douglas A. McIntyre
Douglas A. McIntyre ROBERT W.BAIRD has initiated mostly cautious coverage on Banks and Financials this morning. Most are Neutral rated, although there are a few Outperform ratings in the coverage group. Here are the initiations.…
Truckers led the drop after a fake $100 oil print and after a YRC Worldwide (NASDAQ: YRCW) acquisition write-down, pulling down Arkansas Best (NASDAQ: ABFS) and others. With no surprise, airlines followed…
Saudi Arabia is sick of the big sovereign funds in China and Abu Dhabi kicking sand in its face. The country plans to put a fund in place that will "dwarf Abu…
The SIV "Super Fund" created by the Treasury Department, Citigroup (C), Bank of America (BAC), and JP Morgan (JPM) is dead. Once Citi took its own SIVs onto the banks balance sheet,…
Citigroup (C) is back to it new lows, trading down to $29.52. Citi could have been driven down by the losses at Bear Stearns (BSC). It could be that Fitch cut its…
These are not the only analyst calls moving stocks today in pre-market trading, but these are the top calls that 247WallSt.com is reviewing this morning: AMBAC Financial (ABK) raised to Outperform from…
From mid-1998 to later that year, Citigroup (C) fell from $32 to just above $13. The stock moved from almost $4.50 in February of 1987 to $1.40 in October 1990. The markets…