In breaking news CNBC's Charlie Gasparino reveals that NY Attorney General Andrew Cuomo has accused Merrill Lynch of misleading Congress.
Citigroup's report of a profitable start to 2009 notwithstanding, earnings in the financial sector have been dreadful. So why is Fifth Third Asset Management's Mary Jane Matts so enthusiastic about financials?
Trust us, we'd rather be talking about profits than politics. But it seems the government will decide the market's fate.
Talk about knowing how to hone your pitch to fit the current market: This guy posted an ad on Craigslist offering to be the "Fall Guy for Your Hedge Fund." His primary job responsibility? Taking all the blame for the current mess.
Top financial stocks carried their Tuesday gains into Wednesday trading. But a report from UBS suggests the rebound may be a mere bounce — not a bottom.
Cramer is reluctant to recommend any banks right now, but the charts say this stock’s ready to move.
Stocks posted their best day in four months on Tuesday with Citigroup leading the Dow higher...
Stocks took off like a rocket Tuesday, with the Dow gaining a whopping 5.8 percent, as banks rallied after a combination of encouraging news from the sector. The Nasdaq jumped 7.1 percent.
Today, Citigroup CEO Vikram Pandit told Bloomberg that the bank has turned profitable with its best numbers since 2007. This echoes what BofA CEO Ken Lewis told CNBC about two weeks ago.
So, the folks who made all those bad loans are supposedly now keeping watch over the appraisal business, making sure independent appraisers are not inflating or deflating values due to pressure from lenders???
Stocks pared some of their earlier gains but were still up sharply on renewed confidence about the financial sector.
As of midday Tuesday, all major indices are up 4 percent or greater. If the rally holds, the S&P 500, Dow, and NASDAQ Composite would be poised for their biggest percent increase since late November of last year.
Financial stocks are rallying Tuesday. Is the market bottom starting? Frederic Dickson at D.A. Davidson & Co. and Jack Ablin at Harris Private Bank offered their insights to investors.
New York Attorney General Andrew Cuomo is looking into whether former Merrill Lynch Chief Executive John Thain intentionally moved up the timing of bonuses prior to the disclosure of losses at the firm, people familiar with the investigation told CNBC.
US stock index futures pointed to a higher open for Wall Street after Monday's selloff and with some good news emerging from the banking sector.
Why the focus has been on Mad Money and not the possibility for another Great Depression is beyond us.
History is no guide for investors right now, Cramer says.
Warren Buffett's bullish comments on banks, especially Wells Fargo and U.S. Bancorp, during this morning' Squawk Box on CNBC helped boost the financial stocks in Berkshire Hathaway's portfolio.
Monday: Warren Buffett told CNBC the U.S. economy has "fallen off a cliff." Prof. Nouriel Roubini, who predicted the current crisis, said the U.S. recession could last up to 36 months. But some M&A activity was seen: Dow Chemical and Rohm & Haas announced a deal; and Roche and Genentech are reportedly close to their own agreement. CNBC heard from experts who said steady growth companies are the way to invest now; and that the government rescue plan is going to create the first signs of recovery.
Stocks retreated in a yo-yo session as an earlier advance in the shares of energy and big-cap technology companies dissipated. But banks held gains as investors hoped for more clarity on the government plan to firm up the financial system, with Fed Chairman Ben Beranke meeting with President Obama today.