With all of the carnage in the financial sector it would be hard to believe that any other group of stocks could have done worse. The technology sector claims that, for the…
At UBS (NYSE: UBS) it all hit the fan today. Marcel Ospel, the bank’s chairman, is on the way out. The financial firm wrote-off another $19 billion. The company plans to raise…
The largest losers among the big companies in the S&P 500 for the first quarter were: Microsoft (MSFT) down 21.6%, Google (GOOG) down 36.7%, Apple (AAPL) down 27.8%, Intel (INTC) down 22%,…
Over the weekend UBS (NYSE: UBS) said that it would be cutting the value of auction-rate securities in it client’s accounts. According to CNN Money "UBS using an internal model to value…
Citigroup Inc. (NYSE: C) is making some organizational changes today. The troubled financial and banking supermarket has announced a reorganization of Citi’s structure with what it hopes to achieve greater client focus,…
Douglas A. McIntyre According to Reuters, the Treasury Department will announce a proposed major overhaul of the US financial regulatory system. Reuters writes that Yahoo! (YHOO) introduced Shine, a site for women. Reuters writes that…
Banks are going to the Fed and getting money at 2.5% and putting it onto their balance sheets. What do the big money centers do with the money? They make investments in…
There has been some misplaced optimism that financial stocks bottomed earlier this month based on the notion that much of the bad news about write-offs had come out. Mid-month, the Fed increased…
According to Reuters, Bank of America (BAC) will pay the president of Countrywide (CFC) $28 million to stay and run the company after the buy-out is complete. Reuters writes that the chairman…
A day after taking down its earnings forecasts for Citigroup (C), JP Morgan (JPM), and Wachovia (WB), Oppenheimer has cut its first quarter numbers on Merrill Lynch (MER) and UBS (UBS). According…
According to Reuters, Oppenheimer cut is earnings forecasts for Merrill Lynch (MER) and UBS (UBS) a day after cutting Citigroup (C) and Bank of America (BAC). Reuters reports that the Meriwether hedge…
Oppenheimer’s Meredith Whitney is currently the most followed bank and financial firm analysts on Wall Street. We don’t normally like to review analyst calls that are not fresh calls from the same…
Goldman Sachs says that write-downs for subprime mortgage paper, LBOs, credit cards,and other bad paper could hit banks and brokerages for $460 billion. That is almost three times the write-offs taken by…
There is growing concern about where the Fed will get the hundreds of billions of dollars it will need to bail-out failing banks and brokerages. Most economists point to the tax-payer as…
According to The New York Times, JP Morgan (JPM) is in talks to raise it bid for Bear Stearns (BSC) from $2 to $10. Reuters writes that analysts now see a steep…