The Colonial BancGroup (CNB) Concerns about balance sheet. Down to $4.12 from 52-week high of $25.50. Wachovia (WB) The bigger the bank, the harder its falls. Drops to $16.96 from 52-week high…
Wachovia (WB) Sitll concerns about faltering balance sheet. Down to $18.22. Gatehouse Media (GHS) Another newspaper industry victim. Down to $2.98. Fifth Third Bancorp (FITB) Announces it will raise money. Down to$12.97.…
US home foreclosures moved up 49% in May, compared with the same month a year ago. Figures from RealtyTrac show that "One in every 483 U.S. households received a foreclosure filing in…
From the viewpoint of pessimists, it was just a matter of time. The run-up in financial shares which began in mid-March would be tomahawked by a flailing economy and the leprosy of…
Washington Mutual (WM) Concerns about the financial crisis burn like wildfire. Drops sharply to $6.14 from 52-week high of $44.19. AMBAC (ABK) Sells off to $2.02 after downgrades. The 52-week high was…
There are the 24/7 Wall St. odds that several companies will have to file for Chapter 11 between now and the end of the year. These will become a permanent part of…
Short sellers sharply increased their bets against big US banks based on data from the NYSE as of May 30. The number compare with those onMay 15. Short interest in Washington Mutual…
Wachovia (WB) Sacking of CEO is still driving away shareholders. Down to $21.04 from 52-week high of $54.54. Sun Microsystems (JAVA) sells off on concerns that the company’s bad forecasts could get…
After indicating that the worst was behind it, Lehman (LEH) may have to raise another $3.4 billion. That would be an indication that the brokerage will lose much more than expected in…
Standard & Poor’s has come out with a report that is actually weighing down on the entire market even though it is sector specific. The ratings agency has cut ratings on several…
Billions of dollars in losses and a falling stock price can cost a CEO his job. Wachovia (WB) announced today that its current Chairman, Lanty Smith, has been appointed interim Chief Executive…
Ambac (ABK) Still dogged by concerns about losses and inadequate capital. Falls to $2.88 from 52-week high of $92.08. US Airways (LCC) Concerns about cost of oil get worse. Drops to $4.06…
Banks are supposed to be one another’s friends. The all have the same problems now. They are all lobbying for the same relief. They often share customers. When they compete, the Marguess…
According to Reuters, Microsoft (MSFT) is proposing to buy Yahoo!’s (YHOO) search business. Reuters writes that Barclays (BCS) is looking at a possible bid for Lehman (LEH). Reuters reports that customer satisfaction…
According to Reuters, HP (HPQ) plans to buy EDS (EDS) to better compete with IBM (IBM). Reuters writes that AIG (AIG) says it sees no reason to follow the request of its…
