Bank of America Corp
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Some of the names on the move ahead of the open.
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Massachusetts authorities sued two subsidiaries of Swiss bank UBS Thursday, charging they misled investors about how safe auction rate securities were.
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Here are interviews with two shareholders who attended the standing room only meeting at Countrywide headquarters today. One is Scott Adams, of the American Federation of State, County and Municipal Employees, which voted "yes" today with its 48,000 shares.
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Angelo Mozilo presided over the meeting. It only lasted about 15 minutes. No speeches by shareholders. Even though 69 percent of shares voted yes, the actual percentage of votes cast was around 97 percent meaning about 30 percent of shares didn't vote at all.
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The Illinois attorney general's office plans to sue Countrywide Financial and Chief Executive Angelo Mozilo on Wednesday, claiming the troubled mortgage lender engaged in deceptive trade practices.
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As Countrywide shareholders vote on whether to be acquired by Bank of America--on the same day the state of Illinois is suing the Countrywide and CEO Angelo Mozilo for fraud--research firm SNL Financial says a horrible year for banks and thrifts hasn't stopped them from paying their chief execs pretty well.
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The Illinois attorney general's office plans to sue Countrywide Financial and Chief Executive Angelo Mozilo on Wednesday, claiming the troubled mortgage lender engaged in deceptive trade practices.
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Energy concerns weighed heavily on Wall Street on Tuesday. What follows are the day's video highlights.
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In the funny business of stock analysis, I found an interesting take on the Bank of America-Countrywide deal. Market Edge Research has a Buy on Countrywide and a Sell on BofA.
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Strategas Research analysts today say the market looks oversold and could be setting up for a short-term rally. In a note today, the firm looked at the record level of short interest and other factors. Last week, the percent of short interest on the NYSE was at 4.2 percent, an all time high.
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I'm going to be outside Countrywide headquarters Wednesday as shareholders vote on the mortgage giant's acquisition by Bank of America. The result is a foregone conclusion.
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It was a low volatility, low volume day, but regardless: there was a lot of damage done.
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More Wall Street firms, facing the specter of tougher regulation and slumping capital markets, will follow the path of Bear Stearns and be forced into the arms of deposit-rich commercial banks, veteran banking analyst Charles Peabody told Reuters.
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Almost everywhere they looked during the week, investors saw red ink flowing. But CNBC guests worked hard to find bright spots in the murk.
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Stocks fell sharply Friday as oil prices climbed about $3 and a concoction of rumors and bad news shook up the banking sector. Rounding the bend toward the closing bell, the Dow was off nearly 4 percent for the week, the S&P off 3 percent and the Nasdaq off 2 percent.
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One of this sector's last lines of defense in the market is falling through.
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Stocks fell sharply Friday, with volatility expected to remain high due to the expiration of options, oil prices continuing their climb and bank worries slamming the financial sector.
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Call the latest banks-inspired stock market selloff whatever you want, but don't call it a capitulation.
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Stocks fell sharply Friday, with volatility expected to remain high due to the expiration of options, oil prices continuing their climb and bank worries slamming the financial sector.
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Stocks fell sharply Friday, with volatility expected to remain high due to the expiration of options, oil prices continuing their climb and bank worries slamming the financial sector.
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US large-cap regional banks' stocks now appear to be in "capitulation mode" and will likely trade below fair value in the near term, an analyst at Merrill Lynch said.