For reasons that will escape even the most rigorous analysis, JP Morgan (NYSE: JPM) has elected to raise $6 billion through the sales of preferred shares. In the last quarter, the big…
According to Reuters, the head of Samsung has been indicted for tax evasion. Reuters writes Ebay (EBAY) profits rose 22%, but the company was cautious about the rest of the year. Reuters…
BlackRock, Inc. (NYSE: BLK) posted a 25% gain in earnings, but reported $1.90 EPS versus $2.00 estimates; Assets under management are now $1.364 Trillion. Shares are trading down by 2% pre-market. JPMorgan…
JP Morgan (JPM) took some big write-offs which dropped its profits well below the same quarter last year. The bank 2008 first-quarter net income of $2.4 billion, compared with record net income…
Douglas A. McIntyre A look at the Washington Mutual (NYSE: WM) and Wachovia (NYSE: WB) deals to raise more capital indicates that other banks and brokerages are looking at below-market deals if their Q1 numbers…
Early indicators from companies like Wachovia (NYSE: WB) and General Electric (NYSE: GE) show that the last half of March may have been tougher on banks earnings than Wall St. expects. Bloomberg…
Over the last week, both major financials and techs sold off substantially, another sign that one major sector is doing nothing to offset the other. Taken in tandem with GE’s (NYSE: GE)…
According to Reuters, Citigroup (C) will sell $12 billion in troubled loans to a group of private equity firms. Reuters reports that some members of the Fed believe that the US will…
A decade ago, when there were big problems in the financial markets a very small group of people came in for the fix. E. Gerald Corrigan, a man of massive girth and…
According to Reuters, Lehman (LEH) raised $4 billion. Reuters writes that US factory orders probably fell in February. Reuters reports that the Fed approved the JPMorgan (JPM) purchase of Bear Stearns (BSC)…
Another director of Bear Stearns Companies, Inc. (NYSE: BSC) has unloaded his holdings as the stock was trading north of a buyout price for some time. Paul A. Novelly, a director, has…
Douglas A. McIntyre 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…
Countrywide NYSE: CFC) chief operating officer David Sambol cannot get a job as a garbage man. He is viewed as being too closely tied to policies whereby his company made subprime mortgage…
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…