Wachovia (NYSE: WB) will raise between $6 billion and $7 billion. Will the money come in at $28 where the bank trades now? That is already down by half from the 52-week…
This week, we’ll have an earnings onslaught from major US financial institutions for Q1 2008 quarterly results. What investors need to grasp from these financial giants is not whether or not the…
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…
Washington Mutual (NYSE: WM) has outlined its details of a financial aid or rescue finance package. The company is raising a total of $7 Billion via direct stock sales to an investment…
Douglas A. McIntyre These are the top individual analyst calls we are focusing on this Tuesday morning: Apple (NASDAQ: AAPL) Cut to Underperform from Market Perform at Morgan Keegan. Corning (NYSE: GLW) raised to Outperform…
Washington Mutual (WM) may get $5 billion in much-need capital. It is an example of how financial companies bet on subprime mortgages which cut their share prices by as much as 75%…
Douglas A. McIntyre The short interest in NYSE stocks hit a record for the March 31 period. The number compare to those on March 14. Shares short in banks and brokerages began to drop. Short…
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…
"The current financial crisis is the most serious since the second world war, and perhaps since the Great Depression."–The London Observer, March 23, 2008 Many investors find it hard to believe that…
The short interest in most large stocks traded on the NYSE increased as measured on March 14. The figures compare to February 29. Car stocks were hit especially hard. Shares short in…
Just a few months ago, sovereign funds could not get enough stock and debt in financial firms like Citigroup (NYSE: C) and Merrill Lynch (NYSE: MER). When the time came to bail-out…
This is just not a good day for financial stocks. Washington Mutual Inc. (NYSE: WM) is feeling some additional pain, and it isn’t because of having ties to any government bailout package. …
Douglas A. McIntyre Reddy Ice (NYSE: FRZ) Offices raided by Feds. Drops to $12 from 52-week high of $32.21. Washington Mutual (NYSE:WM) One of the largest mortgage brokers. Falls to $9.91 from 52-week high $44.66.…
Washington Mutual (NYSE: WM) went and got itself a tin cup. Federal regulators want it to raise more money so that it can lend more money. The mortgage bank is making the…
A number of the large financial stocks took news of a write-down at UBS (NYSE: UBS), debt problems at Merrill Lynch (NYSE: MER), and downgrades of Thornburg (NYSE: TMA) hard. Hitting 52-week…