6:15am ET
Investing
Bank of America’s Next CEO
Bank of America (NYSE: BAC) will need a new CEO soon, if the market’s reaction to the current plans of chief executive Brian Moynihan remains poor. Moynihan has said he will cut…
BAC Coverage Page 97
11:02am ET
Banking, finance, and taxes
Credit Card Debt Is Rising… Or Is It? (C, JPM, MS, BAC, AXP, V, MC, COF)
This morning’s report that Citigroup Inc. (NYSE: C) has downgraded its fellow banks’ earnings was based on fears that the European banking system is facing severe pressure from economic weakness on the…
9:16am ET
Banking, finance, and taxes
Citi Downgrades Major Banks… Is It Downgrading Itself? (C, BAC, JPM, GS, MS)
Major banks and brokerage firms do not cover their own banks, for obvious reasons of conflicts of interest. They do, however, cover their peers and rivals. Many investors believe that the banks…
6:25am ET
Media
Media Digest (9/12/2011) Reuters, WSJ, NYTimes, FT, Bloomberg
Carol Bartz resigns from Yahoo!’s (NASDAQ: YHOO) board. (Reuters) Lagarde disputes reports of an IMF study that shows a $372 billion capital shortfall among Europe’s banks. (Reuters) Bank of America’s (NYSE: BAC)…
8:34am ET
Investing
The Twitter-24/7 Wall St. Market Report (9/9/2011) McDonald’s Same Store, Bank Of America Layoffs
Yahoo! Finance: Economic gloom piles pressure on G7 finance talks USA Today: Reports: Bank of America could cut at least 28,000 jobs Zerohedge: MCDONALD’S AUG. U.S. EUROPE COMP SALES UP 2.7%, EST.…
8:17am ET
Investing
Todya’s Best Market Rumors (9/9/2011) NYSE Merger Block, Bank Of America Layoffs
Updated throughout the day. Bank of America (NYSE: BAC) will cut 40,000 jobs (WSJ) Nasdaq OMX (NASDAQ: NDAQ) will press its objections about the NYSE (NYSE: NYX) merger with Deutsche Borse (WSJ)…
6:19am ET
Media
Media Digest (9/9/2011) Reuters, WSJ, NYTimes, FT, Bloomberg
Obama proposes a $447 billion job stimulation package. (Reuters) Economic problems to be the focus of G7 meetings. (Reuters) One Super Congress member threatens to quit over concerns about military budget cuts.…
9:06am ET
Investing
The BofA Split-Up? Up to 600 Branch Closings (BAC)
To say that Bank of America Corporation (NYSE: BAC) is under pressure remains the understatement of 2011. The DJIA industrial average component is under attack from every angle. It is now under…
Jon C. Ogg 8:14am ET
Housing
US Military Bases Going Solar (FSLR, STP, YGE, WMT, KYO, SHCAY, RSOL, WEST, GOOG, BAC)
The US Department of Energy has issued a conditional commitment for a partial guarantee of a $344 million loan for solar PV installer SolarCity. The company will install rooftop solar PV systems…
6:21am ET
Media
Media Digest (9/8/2011) Reuters, WSJ, NYTimes, Bloomberg
Facebook’s first half revenue doubles from a year ago. (Reuters) Fitch warns about downgrades of China and Japan. (Reuters) Department of Defense officials warn of cuts in the sum the government pays…
6:22am ET
Banking, finance, and taxes
Bank of America Reorganizes — to What End?
Bank of America (NYSE: BAC) has announced another management reorganization that seems to do nothing to solve the bank’s balance sheet and legal problems. That makes the new structure useless. Tom Montag…
Douglas A. McIntyre 6:19am ET
Media
Media Digest (9/7/2011) Reuters, WSJ, NYTimes, FT
Yahoo! (NASDAQ: YHOO) CEO Carol Bartz fired over the phone. (Reuters) Obama may propose a $300 billion employment package with tax cuts and new expenditures to train workers. (Reuters) Pressure increases on…
6:18am ET
Media
Media Digest (9/6/2011) Reuters, WSJ, NY Times, FT, Bloomberg
Bank of America (NYSE: BAC), JPMorgan Chase (NYSE: JPM), Wells Fargo (NYSE: WFC) and Citigroup (NYSE: C) may settle charges made by several states over “robo-signing” practices. (FT) Lockheed Martin (NYSE: LMT)…
3:23pm ET
Banking, finance, and taxes
Bank Of America May Open Down 10% Tomorrow
It is Bank of America’s (NYSE: BAC) turn to sell off 10%. Deutsche Bank dropped 8.9% in trading today. Royal Bank of Scotland fell 12.3%, and Societe Generale 8.6%. The reasons for…
Douglas A. McIntyre 8:46am ET
Banking, finance, and taxes
Bank Of America Could Cut 30,000
If it is true, it would be another sign of desperation. The Charlotte Observer reports that Bank of America (NYSE: BAC) could lay-off 30,000 people over several years. The bank has come…