A former Countrywide Financial executive cashed in on $57-million payday after whistleblowing in Bank of America investigation. The NYT reports.» Read More
Over the past few days, the markets have been weighed down by weak economic data, downbeat corporate earnings forecasts, and concerns that many financial firms may post large quarterly losses in the upcoming weeks. Now at its lowest level since December 1, the Dow is down for its sixth straight session – its longest losing streak since the beginning of October.
Stocks fell sharply as the decline in retail sales was double of what was expected and earnings worries escalated.
We have not seen a day with poor internals like this in several weeks. 10-1 declining to advancing stocks, and much more volume is going to stocks on the downside than on the upside.
Citigroup, is expected to continue selling assets in the coming weeks in what some predict will be a dismantling of the banking giant.
An investment strategy in a single word? Edward Lewis of Atlantic Equities thinks the word is "diversity." "I wouldn't be putting (my money) in one sector," Lewis told CNBC. "My concern is that visibility is very tough."
The latest retail sales numbers showed a sixth consecutive month of contraction. Sales fell 2.7% in December and November sales were revised downward to a drop of 2.1%. Here is a breakdown of where sales were falling as well as which categories actually saw increases.
Futures were lower after the drop in retail sales came in about double what was expected and as earnings worries escalated.
The Dow fell for the fifth straight day on Tuesday as investors fretted over what many expect will be a gloomy earnings season.
Citigroup has agreed to merge its Smith Barney brokerage unit into Morgan Stanley's brokerage, moving away from the financial supermarket model that Citigroup has followed for the past decade.
Stocks ended mixed Tuesday as tech and oil stocks were buoyed by bargain hunting, but the undercurrent of earnings worry took down the Dow.
Citigroup CEO Vikram Pandit plans to announce in the coming days a major shift away from the "financial supermarket" model that has guided the bank for the last decade.
The Bank Index is sitting right at its November closing low, and many big names — Bank of America, M&T Bank, US Bancorp and others--are already at multiyear lows.
Stocks wobbled Tuesday, paring some gains, though the tech-heavy Nasdaq remained higher.
Citigroup and Morgan Stanley are working feverishly to get a deal for a creating a joint venture out of Citi's Smith Barney brokerage unit completed by today; sources close to the deal say they expect an announcement after today's closing bell.
As investors brace for a dismal earnings season coming out of a turbulent fourth quarter in 2008, here is a look at the best and worst performing sectors so far in 2009.
That's bad news for the banks, though. Cramer breaks down what the president-elect's new TARP rules mean for the financials.
The Dow fell for the fourth day in a row as concerns about massive losses at Citigroup knocked its shares 17 percent lower, dragging down bank stocks...
The Democrats wasted no time distinguishing themselves from President George W. Bush.
Stocks continued their slide Monday as the economy and what is expected to be a horrendous earnings season formed a one-two punch to knock out hopes for a January rally.
Morgan Stanley and Citigroup are in talks to merge their brokerage operations in a deal that could result in Morgan taking over Citi's Smith Barney unit, people familiar with the situation told CNBC.