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…
According to Reuters, Paulson says that China is picking up the pace of the yuan rise. Reuters writesThe Asian Development Bank cut growth rates for countries in Asia including China Reuters reports…
In an SEC filing ahead of an investor presentation, Bank of America’s (BAC) CEO says that the fourth quarter will be a bit of a train wreck. At Bank of America, we…
Douglas A. McIntyre These are not the only analyst calls impacting individual share prices, but these are the ones that 247WallSt.com is focusing on: Charles River (NYSE: CRL) downgraded from Buy to Neutral at UBS.…
Yesterday’s announcement that Washington Mutual (NYSE: WM) about a dividend slash, layoffs, exit of sub-prime, and a capital raise was greeted with far less than joy. 24/7 Wall St. has already warned…
The November 30 short interest of NYSE traded stocks shows that the market is predicting a further drop in financial and tech stocks. The numbers compare to November 15, 2007. The short…
When all the CEO’s and corporate officers are lumped together for playing down the sub-prime mess in the summer and for all the sub-prime loans that were made, one CEO is thought…
Douglas A. McIntyre The head of Countrywide (CFC) stated his case, once more, that the mortgage lender is not a candidate for Chapter 11. But, Angelo Mozilo does appear to like the topic. He brought…
Douglas A. McIntyre According to The Wall Street Journal "Debt-rating agency Moody’s Investors Service, signaling a new turn for the worse for some bank-affiliated funds, said it downgraded or put on review debt totaling $119…
Bank of America (BAC) looks the fool. It put $2 billion into floundering mortgage company Countrywide (CFC), but the drop in the troubled company’s shares have taken the value of that to…
Douglas A. McIntyre According to Reuters, a fire closed most of the oil pipeline between the US and Canada. Reuters writes that the head of VW said the the Russian car market would eventually be…
According to Reuters, "Citigroup Inc got a call from a prominent investment banker suggesting a merger with Bank of America Corp as it was dealing with billions of dollars in mortgage-related losses…
Citigroup (C), JPMorgan (JPM), and Bank of America (BAC) want to raise a fund worth $80 billion to make short-term loans to SIVs that do not currently have a market for many…
HSBC (HBC) is taking $41 billion in SIV assets onto it balance sheet, a move that could pressure US banks like Citigroup (C) to follow. Bloomberg writes "investors in the SIVs will…
According to Reuters, the Fed’s decision to make an October rate cute was a "close call." Reuters writes that Paulson said home loan defaults will be much higher in 2008. Reuters writes…