CEO Brian Moynihan said the bank faces up to an additional $9 billion in costs related to the financial crisis and mortgages beyond its reserves.» Read More
Cramer means it when he says it. Our great national nightmare is over.
Bob Doll, CIO of global equities at BlackRock, told CNBC which stocks his firm is buying. Surprise! There're a few financials in the mix.
Stocks rose Wednesday after ADP reported an unexpected rise in private payrolls and the government announced two measures intended to boost liquidity and provide some stability to financial markets.
Merrill Lynch's latest effort to shed its subprime debt could set the standard for a final round of writedowns in the financial sector.
If the Commission chooses to no longer enforce its naked short selling rule, the financials could be in some real trouble.
Stocks declined Monday, led by financials after two more banks folded. Oil ticked higher after three straight weeks of decline, clipping consumer-discretionary stocks, including homebuilders, airlines and retailers.
At least not the kind we need right now, Cramer says. Here's why.
Treasury Secretary Henry Paulson said the nation's four biggest banks were ready to kick-start a market for covered bonds that could help significantly expand home mortgage financing.
Stocks pulled off modest gains Friday as enthusiasm for some better-than-expected economic reports outshined a warning from S&P of a possible downgrade on Fannie Mae and Freddie Mac.
No doubt the financials are a volatile sector right now. Here's how we recommend you play it.
Stocks wobbled Friday as investors weighed a potential S&P downgrade on Fannie Mae and Freddie Mac against some encouraging economic reports, including consumer confidence and durable-goods orders.
Stocks rose Friday after some robust economic data, including a rebound in consumer confidence and an unexpected increase in durable-goods orders.
The housing report was not so far off the expected and was not nearly as bad as it was treated. We declined because we are in a bear market.
Stocks ended sharply lower Thursday as the market got a triple whammy: Oil resumed its ascent, major earnings reports sparked a fresh wave of concern about corporate profits and home sales hit a 10-year low. All three major indexes lost at least 2 percent.
Stocks declined as oil resumed its ascent and investors braced for the next batch of corporate earnings. A drop in home sales and a jump in jobless claims above the key 400,000 mark added some pressure.
In an election year, there is a lot of talk about flip flops. If you want to see some real reversals, take a look at the markets. Energy, which is the leading sector over the past six months, is now the worst performing sector while Financials have moved from the cellar to the penthouse in the same period.
The next six months will be a buyer's market, Cramer says. Plus, more on XTO Energy, Wachovia, and the much-anticipated XM-Sirius merger.
San Diego City Attorney Michael Aguirre said Wednesday he filed a lawsuit against Bank of America Corp and its Countrywide unit to prevent the mortgage lenders from foreclosing on homes in his city, which he aims to make a "foreclosure sanctuary."
A major Middle Eastern investor should help the company. But there are more reasons to like this stock.
Not everything is as it appears. Especially with these Cramer picks.