11:08am ET
Investing
Bank Short Sales Increase (JPM, BAC, WFC, C)
US banks have finally figured out that it costs them less to simply take a loss on an underwater home mortgage rather than try to foreclose. Banks are even paying for the…
C Coverage Page 60
7:42am ET
Investing
Negotiations Near End on Mortgage Foreclosures Deal (BAC, C, JPM, WFC)
Government officials at both the federal and state levels expect to see an agreement soon on the penalty payments being negotiated with five big mortgage lenders over foreclosure practices. The governments are…
5:26pm ET
Banking, finance, and taxes
Citi Dividend Returning Sooner Than Expected (C, JPM, WFC)
Any time you have a shareholder talking up a company, you have to understand that they are talking up their book. Billionaires do this, and they tend to be listened to more…
8:18am ET
Investing
Today’s Best Market Rumors (2/6/2012)
Updated throughout the day on 24/7 Wall St. Wire. A $25 billion settlement between the federal government and state attorneys general on one side and five banks on the other over mortgage…
6:44am ET
Investing
What’s Important in the Financial World (2/6/2012) Greek Settlement, GM Profit Target
Time has finally run out for Greece. The European Union, European Central Bank and International Monetary Fund have said they are tired of waiting to see if Greece can cut is budget again.…
8:01am ET
Investing
SEC Plays Softball with Big Banks — NY Times (JPM, GS, BAC, C, DELL, GE, URI)
Over the last ten years, the US Securities and Exchange Commission (SEC) has offered nearly 350 waivers to the country’s biggest banks in cases when the banks might be punished for fraud,…
1:42pm ET
Investing
Investment Bankers at Barclays to Get Pay Cut (BCS, C, MS, CS, DB)
The 24,000 employees of Barclays plc (NYSE: BCS) can look forward to an announcement next week that they will be getting a cut of 25%-30% in the compensation this year. That’s not…
4:04pm ET
Investing
24/7 Wall St. Closing Bell (C, NEM, STX, XOM, MWW, AMZN, BRCM, AET, COCO, EPD, MAN, MPC, NOC, WHR, KTCC, SGMO, MDVN, JDAS, IXYS)
The three major US stock indexes opened higher this morning, following on a positive debt sale by Portugal and some improvement in PMI numbers from Europe. ADP employment data did not meet…
8:18am ET
Investing
Top Analyst Upgrades & Downgrades (AMZN, ASH, BAC, C, CAT, DB, XOM, MWW, NEM, STX, SXC, WBSN, VRTX)
Jon OggThese are some of the top analyst upgrades, downgrades, and initiations seen from Wall Street brokerage and research firms this Wednesday morning. Amazon.com Inc. (NASDAQ: AMZN) Maintained Neutral but cut target…
8:34am ET
Investing
Top Analyst Upgrades & Downgrades (AAP, AZO, BAC, C, HFC, IMGN, JAKK, JPM, K, KEG, MEOH, MNST, MS, MYL, SPLS, TWX, WFM)
Jon OggThese are some of the top analyst upgrades, downgrades, and initiations seen from Wall Street brokerage and research firms this Monday morning. Advanced Auto Parts Inc. (NYSE: AAP) Raised to Buy…
8:06am ET
Investing
Goldman Sachs Upgrades Rivals (GS, BAC, C, MS)
Goldman Sachs Group Inc. (NYSE: GS) has come out with a set of upgrades in the bank and brokerage sector this morning. These are the sort of calls that when a firm…
6:49am ET
Media
Media Digest (1/30/2011) Reuters, WSJ, NYT, FT
EU leaders agree to create the European Stability Mechanism, which will have funds of 500 billion euro and begin its business in July. (Reuters) EU leaders probably will create a 20 billion…
1:51pm ET
Investing
Citi Will Shut Down Prop Trading Desk (C)
Citigroup Inc. (NYSE: C) will close its proprietary trading desk next month and all remaining employees will leave the company, according to a report from Bloomberg News. The closure has been known…
Paul Ausick 6:33am ET
Investing
Short Sellers Increase Bets Across the Board
For the first time in a long time, short sellers have increased their bets that the stock prices of most large companies and in most large sectors will fall. The NYSE and…
6:29am ET
Media
Media Digest (1/26/2012) Reuters, WSJ, NYT, FT, Bloomberg
Ben Bernanke says the Fed is prepared to buy more bonds. (Reuters) NEC to cut 10,000 workers. (Reuters) Nintendo posts poor earnings and cuts forecasts. (Reuters) Warren Buffett says higher taxes on…