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Bank of America Corp

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  • 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.

  • Market Insider/Friday Look Ahead Friday, 11 Jan 2008 | 9:09 AM ET

    Reports of more writedowns at Merrill Lynch and credit wrinkles at American Express are outweighing the relief that Bank of America is swooping in to buy troubled Countrywide.

  • BofA Makes Risky Bet With Countrywide Purchase Friday, 11 Jan 2008 | 8:22 AM ET
    Bank of America branch, New York City.

    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.

  • Sell Block: Mortgage Madness! Thursday, 10 Jan 2008 | 7:31 PM ET

    In a special Sell Block, Cramer revisits the worst performers of the subprime mortgage crisis. His new takes may surprise you.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.

  • Maybe 2008 Won't Be So Bad Thursday, 10 Jan 2008 | 7:11 PM ET

    Stocks jumped again Thursday in a volatile session as investors found renewed confidence after a report that Bank of America is close to buying struggling mortgage lender Countrywide. Here’s the word on the Street.

  • Talk Of A Bottom, Not Bernanke, Got Stocks Going Thursday, 10 Jan 2008 | 4:29 PM ET

    Bernanke said he "stands ready to take substantive additional action" to help the economy, implying the Fed would cut interest rates. Stocks briefly rallied on that, then fell back. What really got stocks going was talk that there might finally be signs of a bottom.

  • Stop Trading!: Financial Bottom? Thursday, 10 Jan 2008 | 3:43 PM ET

    The beleaguered group looks to Cramer like it could be turning. 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.

  • Stocks Close Higher on Countrywide Report Thursday, 10 Jan 2008 | 3:10 PM ET

    Stocks rallied to close higher after a report that Bank of America is in advanced talks to buy troubled mortgage lender Countrywide Financial.

  • Lightning Round: Garmin, eBay, Moody's and More Tuesday, 8 Jan 2008 | 11:16 AM ET

    Cramer makes the call on viewers' favorite stocks.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.

  • The financial sector is expected to weigh on corporate earnings in the fourth quarter. But outside the sector, the news is upbeat.