Tag:
Anxiety
Latest Headlines
Latest Headlines
Is Jamie Dimon feeling the heat?
JPMorgan CEO Jamie Dimon had been riding high as of late, boosting in his profile as the credit crunch rolled on, and building his standing with key regulators. But not even Dimon can withstand all effects of the crunch. CNBC notes the bank may post a loss for the quarter, though most analysts
Goldman profiting from naked shorting of leveraged loans
The hits keep coming for Goldman Sachs, the one-time Teflon firm of Wall Street. The latest: Two funds have told the Loan Syndications and Trading Association that they think Goldman Sachs helped drive down prices of leveraged loans via naked short selling, reports Bloomberg . If true, that wou
D-day for the hedge fund industry
Some people in the hedge fund industry have taken to calling Saturday, Nov. 15, D-Day--the last day for investors to make a redemption request for the year. There is some fear that a flood of such requests could force hedge funds into more panic selling. Reuters reports there is indeed a lot o
Bear Stearns job picture starting to clear
According to Financial News Online , JP Morgan Chase  managers are sending letters to Bear Stearns  employees informing staff whether they have a new job or not. The news service says that more than 70 percent of Bear employees (about 14,000) will be laid off, which if anything is sli
Bank of America CEO faces shareholders
Bank of America  CEO Ken Lewis took his turn before his shareholders. The questions were a bit shrill apparently, but he and his directors, like their big bank peers, managed to survive. Not that survival really was ever in doubt for any of the the top execs and directors. Still, the tone of
Bear Stearns new hires face tough world
Bear Stearns new hires, the ones fresh out of school especially, are getting a hands-on lesson in business cycles. It was their misfortune to come out at a time when the industry is really swooning. JP Morgan Chase, according to the New York Times , has rescinded many offers (as we've previous
Bank of America in sore need of capital
Bank of America's first-quarter earnings of 23 cents a share sorely lagged the average estimate of 41 cents. The somewhat ominous twist this time is that the bank seems to be feeling the effects of a slowing consumer market. Home equity loans, credit card loans and loans to small businesses all w
Merrill's earnings disappoint
Merrill Lynch's loss of $2.19 a share was worse than the $1.99 a share analysts expected on average. That average estimate, of course, had moved lower dramatically as earnings day approached. It's clear that Merrill Lynch looms as the challenge of John Thain's career. The move to cut 4,000 jobs w
Writedowns, writedowns everywhere
Meredith Whitney speaks with authority on Citigroup. She predicts Citigroup will announce an $11 billion writedown this Friday, to go with the $18 billion written down in the third and fourth quarters. That translates into a $7 billion loss in the first quarter, notes The Times . As for
Earnings anxiety continues this week
Citigroup reports earnings on Friday. Merrill Lynch will report on Thursday. As a prelude, JP Morgan Chase  and Wells Fargo will report on Wednesday. There's plenty to be nervous about. Writedowns are at the top of the list. Goldman Sachs estimates $12 billion in industrywide writedow
