Bank of America Corp


  • Bank of America's CEO says he is not pleased with his own company's performance and sees anemic growth for 2008. Still, he believes the purchase of Countrywide will close in the second half of this year, sending CFC shares up in early trading.

  • Market Insider/Tuesday Look Ahead Tuesday, 22 Jan 2008 | 7:17 AM ET

    The global freefall in equities markets is likely to shake Wall Street Tuesday morning as investors shun stocks and search for safety plays.

  • Week Ahead: Can Earnings Cheer Gloomy  Market? Sunday, 20 Jan 2008 | 3:56 PM ET

    A heavy gloom hanging over Wall Street may deepen this week unless such bellwether companies as Apple and United Technologies provide investors with hope that the U.S. economy can avert recession.

  • Game Plan: Feds Need to Buy Mortgage Insurers Friday, 18 Jan 2008 | 7:25 PM ET

    Forget about tax rebates. Cramer has the stimulus package this economy really needs.Investing can be confusing. Luckily, Cramer has mapped out some road rules for all you Home Gamers trying to navigate the jungle that is Wall Street. Think of it as "Mad Money 101" –- some fundamental advice to keep in mind as you play the market. Whether you're a first time investor or a seasoned financier, it's always good to remember the basics.

  • Stop Trading!: Cramer's Stimulus Package Friday, 18 Jan 2008 | 3:39 PM ET

    Washington has its plan to boost the economy, and the Mad Money host has his.Investing can be confusing. Luckily, Cramer has mapped out some road rules for all you Home Gamers trying to navigate the jungle that is Wall Street. Think of it as "Mad Money 101" –- some fundamental advice to keep in mind as you play the market. Whether you're a first time investor or a seasoned financier, it's always good to remember the basics.

  • Ambac Loses AAA Rating from Fitch; On Watch at S&P Friday, 18 Jan 2008 | 11:03 AM ET

    Ambac Financial Group on Friday said it scrapped plans to issue $1 billion of new equity, in a move that may result in the bond insurer's top debt ratings getting cut.

  • Countrywide Awards "Retention Grants" Thursday, 17 Jan 2008 | 10:04 PM ET

    In a form filed after the bell with the SEC, Countrywide says its board has decided to award "retention grants" to all executive officers except CEO Angelo Mozilo.

  • GMAC Says Mortgage Unit Meeting 2007 Obligations Thursday, 17 Jan 2008 | 2:50 PM ET

    Finance company GMAC said it expects its struggling Residential Capital mortgage unit will have met its financial covenants at the end of 2007 and that GMAC itself remains adequately capitalized.

  • Countrywide's Press Release On Helping Homeowners Wednesday, 16 Jan 2008 | 4:25 PM ET

    Countrywide Financial sent out a press release saying it helped 81,000 people KEEP their homes in 2007. Here's the press release. Specifically, the company says it modified 56,000 mortgages last year, 10,000 of them in December alone, allowing people to stay in their homes.

  • Bank of America to Cut 650 Jobs, Sell Brokerage Tuesday, 15 Jan 2008 | 2:47 PM ET
    A Bank of America branch.

    Bank of America said on Tuesday it would eliminate 650 corporate and investment banking jobs and sell its equity prime brokerage business, as the second-largest U.S. bank retrenches in the face of difficult credit market conditions.

  • Stocks Fall 2% As Ugly January Continues Friday, 11 Jan 2008 | 6:57 PM ET

    Wall Street plunged lower Friday amid renewed fears that some consumers are buckling under signs of a slowing economy. What’s the word on the Street?

  • Countrywide Sale Expected to Spur More Deals Friday, 11 Jan 2008 | 4:57 PM ET

    Similar deals are expected to follow Bank of America's agreement Friday to acquire battered mortgage lender Countrywide Financial for a knock-down price of $4 billion in stock.

  • US Stocks Tumble on Economic Fears Friday, 11 Jan 2008 | 4:39 PM ET

    Continued problems in  the credit-card industry that spilled over into the broader markets renewed fears of a recession and sent stocks down sharply Friday, despite hopes for a looming interest rate cut.

  • Buying Into Financials: The Good News And Bad Friday, 11 Jan 2008 | 3:42 PM ET

    Quarterly reports next week from Citi, JP Morgan, Washington Mutual, Wells Fargo, Comerica, Merrill Lynch, PNC. There are plenty looking to go long after the reports are out, based on valuation. For example, Citi and Wells Fargo are trading in the bottom 10 percent of their historical valuation.

  • Countrywide's headquarters in Los Angeles.

    I'm outside Countrywide headquarters this morning, where employees have a mixture of relief and worry. Countrywide has already laid off 11,000 people, but it's certain that more will eventually have to go. Bank of America won't need everyone. This could affect everyone from bank tellers to the corporate pilots (Countrywide has not one but two Gulf Streams).

  • Countrywide Gets a Lifeline From Bank of America Friday, 11 Jan 2008 | 1:32 PM ET
    Countrywide Financial

    Bank of America agreed to acquire Countrywide Financial in a $4 billion transaction that could help avert one of the biggest collapses from the U.S. housing crisis.

  • BofA, Countrywide Deal Announcing Today Friday, 11 Jan 2008 | 11:57 AM ET
    Countrywide's headquarters in Los Angeles.

    Bank of America, the second-largest U.S. bank, may announce a deal shortly to buy Countrywide Financial, the largest U.S. mortgage lender, CNBC has learned.

  • BofA/Countrywide Deal: Does It Mean More Loans Ahead? Friday, 11 Jan 2008 | 11:32 AM ET

    The biggest lender isn’t going under, but it is going under new ownership, and as goes Bank of America, so goes Countrywide. Call it the "clean-up of Countrywide." Here’s the difference: Countrywide was the everyman lender, out on the street, dealing with brokers, correspondents, promising everyone...

  • WaMu Has Discussed Merger With JP Morgan Chase Friday, 11 Jan 2008 | 11:02 AM ET

    Washington Mutual, the U.S. savings and loan slammed by slumping mortgage markets, has held "very preliminary" merger talks with JPMorgan Chase, CNBC has learned.

  • The Bank of America-Countrywide deal is less than two hours old, and already the cynics are out. It's a government-approved bailout, cynics say. It's a government conspiracy to keep the market up, cynics say. Things look like they are worse than appears at Countrywide and BofA gets a deal in the long term, they say.

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