All Posts Tagged With: "bank of america"
Bank of America Shares Plunge on Earnings Shortfall, Major Dividend Cut
Shares of Bank of American Corp. (BAC) fell more than 26% during trading yesterday (Tuesday) as investors reacted to the company’s disclosure that it was cutting its dividend after its third-quarter earnings plunged a stunning 68%.
The Charlotte-based BofA also said…
8Oct2008 | Money Morning | 0 comments | ContinuedGlobal Investing Roundups
S&P Slashes RBS Rating; Dendreon’s Big Boost; Eli Lilly Comes Out Ahead on ImClone; AgFeed’s Hungry For Its Own Shares; Bank of America Surprises with Loss; Paulson Taps Another Goldman Exec.
- Standard & Poor’s yesterday (Monday) reduced the credit rating of Royal…
After Reloading With Wachovia’s Banking Business, Citigroup Takes a New Aim at the U.S. Banking Market
Citigroup Inc. (C) will acquire Wachovia Corp.’s (WB) banking operations for $2.l6 billion, a deal that will restore Citi’s title as the biggest U.S. bank by assets while transforming the once-highly regarded Wachovia into an investment-management operation.
In becoming the latest…
30Sep2008 | Money Morning | 0 comments | ContinuedA Black Hole Nearly Swallows Wall Street
Last week, scientists switched on the Large Hadron Collider in Switzerland. The Large Hadron Collider is the world’s largest and highest-energy particle accelerator. Scientists are hoping it will help unlock some of the mysteries of the universe. Non-scientists were fearful…
22Sep2008 | Oxbury Research | 0 comments | ContinuedWe Live In Interesting, Incompetent Times
Epics and Ongoing Busts in the Financial Sector
There may be a major hurricane battering the oil rigs and refineries in the Gulf of Mexico and Texas, but an even bigger one is crushing many of the key banking firms in…
16Sep2008 | Oxbury Research | 0 comments | ContinuedCredit Crunch Claims Two More (Part 1)
“At no time in history has the biggest money in the world been as MISALOCATED and invested as it is now.” –Ty Andros
…well put Mr. Andros. Today marked the worst day since markets opened after 9/11. Bonds soared while commodities,…
16Sep2008 | Oxbury Research | 0 comments | ContinuedBuyout of Merrill and Bankruptcy of Lehman Heightens Worry of U.S. Credit Crisis Pain Still to Come
After a weekend in which the deepening U.S credit crisis sent one top investment bank to bankruptcy court and a second into the arms of a “White Knight” suitor, U.S. stocks yesterday (Monday) recorded their worst day since the 9/11…
16Sep2008 | Money Morning | 0 comments | ContinuedWith Buyout of Merrill, Bankruptcy for Lehman, Wall Street Plays “Let’s Make a Deal”
In one of its wildest and weirdest stretches ever, Wall Street entered a weekend awaiting a government bailout of Lehman Brothers Holdings Inc. (LEH) and exited with Merrill Lynch & Co. Inc. (MER) agreeing to sell itself to Bank of America…
16Sep2008 | Money Morning | 0 comments | ContinuedGlobal Investing Roundups
Report: Toyota Plunking $1 Billion on Brazil Plant; India Housing Boom Ending; GDP Revised Up; Home Sales Rise, Values Fall; Anheuser Busch to Reject InBev Bid; Bank of America Sheds Jobs; Gold Shares Glow; Oshkosh Plunges on Lowered Outlook
Toyota Motor…
27Jun2008 | Money Morning | 0 comments | ContinuedInflation is Winning
Today, we turn to our war correspondents for dispatches from the front lines, and we find an important insight:
“Learn to live with inflation,” begins the headline in the Financial Times.
The FT refers to England’s central banker, Mervyn King, who says…
20Jun2008 | Daily Reckoning | 0 comments | Continued
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