SubscribeAll Posts Tagged With: "Bank of America (BAC)"
Earnings Great, Revenues…Not So Much (JPM, BAC, C, GS)
The Dow Jones Industrial Average has bounced back and forth across the 10,000 line since closing above it a week ago. The up days have been due to generally good quarterly earnings and a falling U.S. Dollar. The bad days have been due to some big name misses. Today it was a downgrade of Wells Fargo (WFC) and news that the “Pay Czar” was cutting compensation by 50% at seven large firms that caused the late-day decline in stock prices. Energy has been particularly strong the last few days, reminding us of those halcyon days back in 2006-2007. With crude…
22Oct2009 | Invest With An Edge | 0 comments | ContinuedStock Market Update: ConocoPhillips (NYSE: COP), Bank of America (BAC), CIT Group Inc. (NYSE: CIT), Apple Inc. (NASDAQ: AAPL)
ConocoPhillips (NYSE: COP) stated today that its third quarter earnings would be hurt by weak North American natural gas prices, and that its total output would drop nearly five percent from the second quarter. The company’s production is expected to reach 1.78 million barrels of oil, hurt by maintenance on operations in Britain and Alaska. Margins for refining oil into products, such as gasoline and diesel fuel, have also weakened versus the previous quarter and levels a year prior. And the company’s worldwide refinery utilization rates are expected to come in near the upper 80 percent range. -Reuters
Walgreen Co. (NYSE: WAG) disclosed that…
2Oct2009 | Jutia Group | 0 comments | ContinuedMost Actively Traded Stocks: Citigroup (C), SPDRs (SPY), Bank of America (BAC), CIT Group (CIT), etc.
1. Citigroup Inc. (NYSE: C) has traded 346,581 shares trading hands near $4.58 per share, down -0.26, or -5.37%
2. SPDRs S&P500 ETF (NYSE: SPY) 189,631 shares trading hands near $103.71, down -1.88, or -1.78%
3. Bank of America Corp. (NYSE: BAC) 171,765 shares trading hands near $16.48, down -0.44, or -2.59%
4. CIT Group Inc (NYSE: CIT) 152,457 shares trading hands near 1.11, down -0.10, or -8.26%
5. E-TRADE Financial Corp. (NASDAQ: ETFC) 114,649 shares trading hands near $1.62, down -0.13, or -7.43%
6. PowerShares QQQ (NASDAQ: QQQQ) 100,819 shares trading hands near $41.24, down -1.01, or -2.39%
7. General Electric Co. (NYSE: GE) 86,046 shares trading hands near $16.06, down -0.36,…
Market Update: Citigroup (C), Bank of America (BAC), J.P. Morgan Chase (JPM), Wells Fargo (WFC)
General Motors Co’s Indian unit is partnering local firm Reva Electric Car Co. to develop electric vehicles for the Indian auto market, with the plan to sell battery-operated small cars within a year. U.S. and global automakers are betting that battery technology will make electric cars the environmentally friendly transportation of the future accompanied by higher gasoline prices and stricter emission rules. –Reuters
The numbers of U.S. citizens filing first-time claims for jobless benefits dipped unexpectedly last week to the lowest level in two months, another sign firings are slowing. Applications fell by 21,000 to 530,000 in the week ending Sept.…
24Sep2009 | Jutia Group | 1 comment | ContinuedActively Traded Stocks: Citigroup (C), E-trade (ETFC), CIT Group (CIT), Bank of America (BAC), etc.
Citigroup Inc. (NYSE: C) had 255,525,000 shares trading hands at $4.70 per share, up .05 or +1.08%.
E-Trade Financial Corp. (NASDAQ: ETFC) traded 96,696,000 shares at $1.90, down .02 or -1.04%. The company took advantage of recent positive market momentum to quickly complete a $150 million stock offering, the company stated today. E-Trade sold 80.2 million shares in an “at the market,” or ATM, offering. This method of raising capital allows a company to sell new shares at the prices prevailing in the open market, as opposed to a secondary offering, in which the company sells stock to a group of institutional investors…
23Sep2009 | Jutia Group | 0 comments | ContinuedMarket Updates: Bank of America (BAC), Google (GOOG), General Mills (GIS), JPMorgan (JPM)
JPMorgan Chase & Co. (NYSE: JPM) stated on today that it was eliminating some overdraft fees altogether and trimming others, after Bank of America Corp. (NYSE: BAC) announced a similar move on yesterday. The changes follow U.S. congressional leaders’ criticism of bank account fees and come as the banks digest rule changes for credit card fees. JPMorgan reported that it made the changes, which include removing overdraft fees if a customer account is $5 or less overdrawn, in an effort to assist its 25 million debit card customers amid the recession and rising U.S. unemployment. -Reuters
Government bonds fell after a surprise rebound…
23Sep2009 | Jutia Group | 0 comments | ContinuedMarket Update: Eli Lilly (LLY), Bank of America (BAC)
A federal judge, Jed Rakoff, rejected a proposed $33 million settlement between Bank of America Corp. (NYSE: BAC) and the Securities and Exchange Commission over bonuses paid to Merrill Lynch executives, according to media reports Monday. The allegations were based on claims that Bank of America did not tell investors about an agreement to pay Merrill executives billions of dollars in bonuses before the bank bought the troubled investment firm, according to reports. –Marketwatch
One year after Wall Street teetered on the brink of collapse, seven out of 10 Americans lack confidence the federal government has taken safeguards to prevent another financial industry…
14Sep2009 | Jutia Group | 0 comments | ContinuedMarket Updates: Citigroup (C), Intel (INTC), Apple (AAPL), Bank of America (BAC)
Canada’s Brookfield Asset Management said on Wednesday that it was setting up a $400 million fund to invest in Colombian infrastructure, joining a wave of foreign investors entering the Andean nation. -Reuters
Economic activity is stabilizing or improving in the vast majority of the country, according to a government survey released Wednesday. The findings indicate that the worst recession since the 1930s may be over. In the new survey, all but one of the Fed’s 12 regions indicated that economic activity was "stable," showed "signs of stabilization" or had "firmed." The one exception was the St. Louis region, which continued to…
9Sep2009 | Jutia Group | 0 comments | ContinuedMarket Updates: eBay (EBAY), Goldman Sachs (GS), Bank of America (BAC), Ford Motor (F)
Brazil stocks opened lower on Tuesday, extending their streak of declines to four consecutive sessions, as concerns over global economic strength overshadowed upcoming data expected to signal U.S. recovery. Signs the U.S. economy, the world’s biggest, is slowly picking up should help reassure investors that the worst of the nation’s economic recession is behind. The Institute for Supply Management’s August survey will probably say on Tuesday that industrial production expanded for the first time since after the recession began. However, Brazilian investors remain uneasy over what they see as insufficient evidence behind the 56 percent surge in the Bovespa from…
1Sep2009 | Jutia Group | 0 comments | ContinuedMarket Updates: Bank of America (BAC), Toyota Motor (TM), AT&T (T), Apple (AAPL)
Consumer Confidence on the Mend; Q2 Housing Prices Rise From Previous Quarter; Judge Questions BofA/SEC Settlement; Chrysler Sues Former Parent; Toyota to Cut Production Capacity by 1 Million; Sony To Sell Wireless e-Book Reader; Apple’s Jobs Leading Tablet Device Development, Says WSJ
- The Conference Board Consumer Confidence Index has rebounded to 54.1 in August after last month’s decline to 47.4. “Consumers were more upbeat in their short-term outlook for both the economy and the job market in August, but only slightly more upbeat in their income expectations,” said Lynn Franco, director of The Conference Board Consumer Research Center. “And, as long as…
Loading ...
