According to Reuters, Citigroup (C) is considering buying Washington Mutual (WM). Reuters reports that US markets rallied on word of a potential plan for the government to take over the toxic assets…
Wells Fargo’s (WFC) shares are up 8% on strong volume. The bank stock should be trading down along with Citigroup (C) and Wachovia (WB). Due to the perverse reasoning of traders, Well…
Covering financial stocks this morning looks a bit like an assassination happening live on television. Futures are being pulled sharply lower by the financial stocks melting down. We are going to skip…
We few, we happy few, we band of brothers; For he to-day that sheds his blood with me Shall be my brother; be he ne’er so vile… Saint…
There are hundreds of thousands of jobs at stake if the current trends continue in the financial services sector. When you tally up the employment just at five troubled firms noted below,…
Citigroup Inc. (NYSE: C) has just filed with the SEC information about its perceived total exposure to Fannie Mae and Freddie Mac securities in an effort to fend off any over-exposure concerns. …
Douglas A. McIntyre The Fly on the Wall reported this morning that "Lehman downgraded shares of Fannie Mae (FNM) and Freddie Mac (FRE) to Equal Weight from Overweight after the U.S. government said it will…
Douglas A. McIntyre Fannie Mae (FNM) and Freddie Mac (FRE) had their CEOs pushed out by the government this weekend. They will get fat pay packages and can go on to live in massive homes…
If the markets are to take bond guru Bill Gross at his word, the world’s financial markets could go through a cataclysmic failure. The head of fixed income fund operation Pimco says…
The evidence that sales at many companies are struggling and that employment will suffer are almost everywhere. Recently, a division of GMAC said it would let 5,000 people go. According to MSNBC,…
Through the weekend the management of Lehman (LEH) is desperately meeting with any investors who will hear its case. According to the Telegraph, these includes Korea Development Bank, Chinese broker Citic Securities,…
Douglas A. McIntyre The auction-rate fiasco is not over for banks. Having bought back about $55 billion of the paper, they are now faced with the reality that the bonds are only worth about $.80…
Citigroup (C) cut is earnings estimates for Goldman Sachs (GS), Morgan Stanley (MS), and Lehman (LEH). Today, Bank of America (BAC) cuts its earnings targets for Goldman and Morgan Stanley. Sanford Bernstein…
The rule on Wall St. is that securities analysts don’t rate their own firms. Now that brokerage research departments are no longer slaves to investment banking, the independence of analysts is supposed…
It is not hard to blame Goldman Sachs (GS) for failing to cut its own earnings estimates for the next quarter and the full year. That kind of action by analysts is…
