Several news organizations are reporting that ten of the 19 banks subjected to “stress tests” will be asked to raise more capital. Since the firms are still debating with the government, the…
According to Reuters, changes at Yahoo! (YHOO) are getting mixed reviews from employees. Reuters reports that ten banks could could have to raise new money after stress tests. Reuters reports that two…
J.P. Morgan Chase & Co. (NYSE: JPM) has issued a negative bank research call for the major money center and super-regional banks this morning. Bank of America Corporation (NYSE: BAC), Citigroup, Inc.…
Ken Lewis got a slap on the hand. Shareholders of Bank of America (BAC) voted to separate the chairman’s role from the CEO’s and the bank’s board was forced to elect a…
Short sellers are not longer willing to gamble on a collapse in the share prices of America’s largest financial firms. Perhaps they think that the issue of nationalization has largely disappeared, the…
According to Reuters, a bill to restrict credit card charges cleared a key committee in Congress. Reuters reports that Ken Lewis of Bank of America (BAC) says his firm what urged by…
Wells Fargo & Company (NYSE: WFC) has posted its earnings this morning. The bank gave a net income figure of $3.05 billion, with a net income applicable to common shares of $2.38…
Douglas A. McIntyre The recovery from the recession looked fine until late last week. Some of the data from the government and associations that keep track of economic indicators got a bit worse. But, that…
According to Reuters, Goldman Sachs (GS) would like to return to its old businesses and compensation practices, but it may not be able to. Reuters reports that the US is planning to…
Two things, which happened within hours of one another, will probably determine the value of bank stocks for the next several months. Optimism about bank earnings pushed up Citigroup(C) by 25% yesterday…
Critics have started to come out of the wall and say that Wells Fargo’s (WFC) earnings are not as good as they seemed at first blush. The most stunning comments come from …
Douglas A. McIntyre These are most of the top pre-market analyst downgrades and cautious research notes we have seen from Wall Street analysts this Monday morning: Corning (GLW) Cut to Perform at Oppenheimer. Eaton (ETN)…
The market capitalization of some big banks has doubled in a month. All of them will have “stress test” results from the government within a few weeks. Those that get fairly high…
Investors find it disconcerting to see the stocks in the huge financial institutions that are at the foundation of the global capital system trading up and down 25% a day, and, in…
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…
