Short sellers were figuring that after the bank rally late last month, banks shares were likely to give back some gains. That was working until Wells Fargo (WFC) reported that it would…
Wells Fargo & Co. (NYSE: WFC) is going to be taking the bank stocks significantly higher, particularly the Direxion Financial Bull 3X Shares (NYSE: FAS). The company is releasing earnings on April…
Maybe the market’s perception that bank stocks are out of the woods is premature. Many of the stocks in the sector have more than doubled from their early March lows. According to…
The rights offering made by HSBC (HBC) raised over $18 billion and the participation rate was over 96%. That should give banks which may need to raise capital in the near future…
A lot of people and members of Congress are upset that banks that took TARP money may buy toxic assets from other banks. There does not seem to be any problem with…
Douglas A. McIntyre The Financial Accounting Standards Board, or FASB, has voted to loosen its rules for the (now dreaded) balance sheet act of mark-to-market valuation for accounting. Many will argue that this is unfairly…
Today was a critical day for the banking sector. The country’s top banking chiefs met with President Obama over the recent discrepancies in TARP fund ramifications, paying back the TARP, executive compensation,…
According to Reuters, the Obama financial reforms face a bumpy road. Reuters reports that the NY State Attorney General has subpoenaed AIG (AIG) over its CDS contracts. Reuters reports that Obama’s financial…
According to Reuters, Obama said that the recession would be halted by government efforts. Reuters reports that Treasury wants broad new powers to wind down troubled non-bank financial firms. Reuters reports that…
Meredith Whitney is and was one of the most influential banking analysts on Wall Street. She was negative on the banking and investment banking sector for roughly two years and has been…
As you will see below, there are many new calls in the banking and brokerage sector this Tuesday morning: Morgan Stanley (NYSE: MS), Goldman Sachs (NYSE: GS) Started as Outperform at Oppenheimer. …
According to Reuters, Obama faces backlash due to AIG (AIG) compensation issues which could set bank his efforts to salvage the financial system. Reuters reports that Lehman will put two of its…
One of the things that Congress and the Administration knows but do not want to admit in public is that bailouts are messy affairs where most of what is planned does not…
These are the top analyst upgrades and positive research calls we have seen from Wall Street this Friday morning with about two hours until the market opens: Alcatel-Lucent (ALU) Raised to Outperform…
This week 24/7 Wall St. is picking several stocks that are likely to double off of their lows. The time frame is by the end of 2010, which is meant to coincide…
