The shares in Wells Fargo (WFC) are up 22% to $19.76. The bank’s modest results are not the cause. There is optimism that the federal government will create a "bad bank" to…
Short sellers placed large bets against the stock of tech companies for the period ending on January 15, taking a series of positions to gamble that firms like Microsoft (MSFT) and Cisco…
You probably already figured that the increase in existing home sales was due to foreclosure, pre-foreclosure, and other distressed sales. Today, Ryland Group Inc. (NYSE: RYL) had an interesting SEC Filing. While…
Companies keep cutting dividends. Some are pressed for cash because of operating losses. Others are being constrained by higher debt service. Banks need to preserve capital. The problem is becoming big enough…
These are some of the top pre-market analyst upgrades we have seen early this Monday morning with more than two and a half hours to the market open: GlaxoSmithKline (GSK) Started as…
According to Reuters, a House committee advanced the economic stimulus bill. Reuters reports that China’s GDP growth slowed. Reuters reports that exports from Japan dropped sharply. Reuters writes that Sony (SNE) warned…
Buying bank stocks might not be the worst investment ever. At least that is the case if you bought today when the market was down. Late in the day came SEC filings…
The raging debate about the largest American banks is whether their stock market values should be zero. Economist Nouriel Roubini, the most highly paid pessimist in the world, recently said that US…
The carnage among financial stocks is so complete, that they are listed here witht thier lows: Bank of America (BAC): $5.17, Citigroup (C): $2.80, Wells Fargo (WFC): $14.02, JP Morgan (JPM): $17.70,…
The federal government really does not want to build a "bad bank" to take toxic assets from America’s largest financial institutions. It has taken a number of measures to avoid it. The…
According to Reuters, Bank of America will get a huge financial aid package from the government. Reuters reports that Congress is advancing legislation to release the balance of the TARP funding. Reuters…
Analysts have been concerned that JP Morgan (JPM), considered the most successful of the large US banks, might miss its numbers and turn in a loss The financial firm held the line…
According to Reuters, Steve Jobs will take a medical leave from Apple (AAPL) until June 30. Reuters reports that Bank of America (BAC) is in discussions with the government to get billions…
The conventional wisdom was that 2008 would be the worst year for bank losses in years, but that it would be the bottom. The damage of mortgage-backed securities has moved into the…
Oppenheimer’s star banking analyst Meredith Whitney slammed the banking giants yet again this morning. The difference between today’s note and her prior criticisms, is that now she expects that many banks will…
