12:02pm ET
Banking, finance, and taxes
IMF Confirms What Bank Stocks Already Show
Bank of America (BAC) hit another 52-week low today at $3.77. Wells Fargo (WFC) got close. The IMF said that that the banking crisis is far from over.
Companies
/Financial Services
Wells Fargo & Company
$87.96
▼ $2.01 (−2.23%) today
Markets closed · 8:10pm ET
WFC Coverage
Page 80
8:42am ET
Banking, finance, and taxes
Huge Loss At Wells Fargo (WFC): Blame Wachovia, But Government Rescue Plan Drives Shares Up
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…
8:26pm ET
Investing
Shorts Tear Into Tech With a Vengeance (CSCO)(DELL)(NVDA)(MSFT)(ADBE)(ORCL)(QCOM)(BRCM)(NOK)(HPQ)(TXN)(EMC)(JPM)(C)(BAC)(WFC)(GM)(F)(M)(JWN)(HD)(LTD)(WAG)
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…
5:48am ET
Investing
The Death Of Dividends, More Money Out Of Consumer Pockets
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…
6:24am ET
Banking, finance, and taxes
US Banks Become Nervous About UK Trends (BCS)(RBS)(C)(BAC)(WFC)
By many measures, the economy in the UK may be worse off than the US, at least up until now. The government has dealt with that by becoming more aggressively involved in…
3:28pm ET
Banking, finance, and taxes
An Ugly Truth About Bank Accounting (BAC)(WFC)(C)
24/7 Wall St. set out to look at whether financial reporting at a number of companies, particularly banks ,is “reliable”? This process took into account the chances that a firm might have…
9:02pm ET
Banking, finance, and taxes
For US Banks, The Glass Is 1% Full (RBS)(C)(BAC)(WFC)(JPM)(FNM)(FRE)(AIG)
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…
4:07pm ET
Investing
The 52-Week Low Club (BAC)(C)(WFC)(JPM)(STT)(AAPL)(DNDN)
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,…
8:08am ET
Banking, finance, and taxes
Building A $1 Trillion “Bad Bank” (C)(BAC)(WFC)(JPM)
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…
6:02am ET
Investing
Banks: Losing $100 Billion In One Quarter (C)(JPM)(WFC)(BAC)(GS)(MS)(UBS)(CS)(DB)
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…
7:49pm ET
Investing
Short Sellers Attack America’s Largest Companies (GE)(PFE)(T)(HAL)(XOM)(INTC)(MSFT)(CSCO)(IBM)
For the latest reported period, ending December 31, short sellers did not make any notable moves in or out of tech, financials, or industrial shares. What they did do was take impressively…
5:13pm ET
Industrials
The Pain of Chasing Warren Buffett (BRK-A, GS, GE, WFC, AXP, BNI, COP, MCO, USB)
Berkshire Hathaway Inc. (NYSE: BRK-A) (NYSE: BRK-B) does not go for short-term gains, and short-term losses are part of the game for investing. Warren Buffett has even told employees to only to…
4:02am ET
Media
Media Digest 1/8/2009 Reuters, WSJ, NYTimes, FT, Bloomberg
According to Reuters, Microsoft (MSFT) Windows 7 is "on schedule" and will begin testing with consumers. Reuters reports that Obama will lay out his case for stimulus package in a speech. Reuters…
9:50am ET
Banking, finance, and taxes
Meredith Whitney Predicts Banks Need More Capital (BAC, C, JPM, WFC)
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…
6:35am ET
Banking, finance, and taxes
Bank Stocks Could Drop By Half This Year (BAC)(JPM)(WFC)(C)
Yesterday, Bank of America (BAC) said it would miss its 2008 numbers. There has been a good deal of talk that Jamie Dimon will be pulled off his thrown at JPMorgan (JPM)…