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earnings
Latest Headlines
Latest Headlines
Bank of America sees revenue gain
Bank of America essentially matched expectations when it reported its fourth quarter earnings.
The troubled bank said it earned $2 billion, or 15 cents a share, compared with a loss of $1.2 billion a year ago. The fourth quarter results were pretty much in line with the estimates, which had be
Legal liability mounting for top banks
The legal liability of the top 17 banks went up measurably when the Federal Housing Finance Authority, created to oversee the big GSEs, sued in September, accusing the banks of misrepresenting the quality of billions of dollars worth of consumer mortgages.
We're starting to get a glimpse of j
Bank of America exchange plans knocks stock
The news that Bank of America was planning to issue about 400 million common shares, which will be exchanged for preferred shares, did not go over all that well.
The stock tanked. CEO Brian Moynihan has consistently said that the bank did not need to issue common stock to meet its capital requ
Banks eager to buy back stock
Banks are trading so far below their book value that they must be good investments right now, right?
A lot of value investors have been burned by such thinking. But if you really believe in the long-term viability of the banks, then why wouldn't you buy? Bank executives are obviously in this c
Earnings reports to reflect weakness, lack of innovation
JPMorgan's earnings have set a tough tone for other banks as the third-quarter earnings reporting season continues.
It's clear that business has slowed precipitously this year, as reflected by JPMorgan's severe decline in revenue from the second quarter to the third quarter. While debit valuat
Chinese stocks and Sarbanes Oxley
As the debate over the merits of Sarbanes Oxley heated up over the years, we pointed to the rise of Chinese companies trading on U.S. markets, which as group seemed gung-ho on Sarbanes Oxley
SEC blasts Wells Fargo for vague language
Footnoted.org notes the SEC's recent reprimand of Wells Fargo for vague language in a recent financial filing. Some statements were so vague that they were next to meaningless, according to the agency. Here are some examples:
"Our financial results and condition may be adversely affected b
Analyst: Goldman Sachs to break even, Morgan Stanley to post small loss
Barclays Capital analyst Roger Freeman and his team made news not too long ago for their report on Goldman Sachs, which suggested that the mighty bank may lose 35 cents a share in the third quarter, which ended Sept. 30. Previously, they expected the bank to earn $2.40 per share.
Other analyst
Massive internal rift hampers Morgan Stanley
All is not well in the Morgan Stanley empire. And once again, the source of friction is that time-honored divide pitting bankers against traders.
Bloomberg offers an arresting inside peek at the power struggle between Colm Kelleher, 54, "a gregarious former fixed-income salesman," and Pau
Vulture sweepstakes: Merrill Lynch vs. Lehman Brothers
The financial crisis of the late 2000s gave rise to a vulture sweepstakes, as the big banks competed to pick up the best of the fallen banks left for dead. So who fared the best? Was it JPMorgan Chase with its deal for Bear Stearns and Washington Mutual? Wells Fargo for its acquisition of Wachovia
