Some of the names on the move ahead of the open.» Read More
Stocks reversed a huge rally and closed with modest gains as dour forecasts from several banks overshadowed a Federal Reserve plan to ease the global credit crunch.
Three major U.S. banks said they expect more write-downs and loan losses in the fourth quarter, eroding investor enthusiam over a Federal Reserve plan to ease the global credit crunch.
Is the Fed actions to pump liquidity into the system a deal changer? The coordination with other central banks is certainly impressive, but more importantly it increases the chances for a rally into the close of the year.
Bank of America expects its fourth-quarter results to be disappointing, Chief Executive Ken Lewis said Wednesday, citing expected write-downs and lower trading revenue.
Bank of America says their fourth quarter results will be "disappointing" and there are more write-downs coming due to exposure to collateralized debt obligations (CDOs). They will likely not be buying back stock until 2009. Down 2 percent pre-open.
A banking industry fund to bail out structured investment vehicles reeling from the subprime mortgage crisis may only total $30 billion, down from recent estimates of $60 billion.
Stocks closed with huge losses after the Federal Reserve announced it was cutting interest rates only a quarter point, disappointing traders looking for twice that amount.
Citigroup has reduced the size of its structured investment vehicles by more than $15 billion in the past two months, the Financial Times said on Tuesday.
U.S. stocks closed higher as investors snapped up beaten-down financial shares on news ofthe latest large injection of funds into a major global bank.
Bank of America, the second-largest U.S. bank, is winding down a $12 billion money-market type fund for institutional investors, CNBC has learned.
The three U.S. banks assembling a super fund aimed at alleviating the global credit crunch are scaling back its size due to a lack of interest from the financial firms it's supposed to help, the Wall Street Journal said in its online edition, citing sources familiar with the matter.
Stocks closed lower as investors worried about the impact of the credit crisis on the financial sector and on the wider economy.
The bank stocks should build on their momentum, Cramer says. Don't take profits yet.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.
Citigroup got a call from a prominent investment banker suggesting a merger with Bank of America as it was dealing with billions of dollars in mortgage-related losses and the departure of Chief Executive Charles Prince, the Wall Street Journal reported Wednesday in its online edition.
Stocks closed sharply higher after a rebound by the battered financial sector spread across the entire market.
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.
HSBC Holdings, Europe's biggest bank, has stepped in to support its two structured investment vehicles -- Cullinan and Asscher -- with funding of up to $35 billion to prevent forced sales of assets.
Stocks closed higher in a shortened session as the kickoff to the holiday shopping season lifted retail stocks, while signs of progress in a plan to relieve credit market strain helped major banking stocks.
Three U.S. banks drawing up a plan to ease the credit markets are expected to ask others in the industry to help out next week, the Wall Street Journal reported in its online edition, citing sources familiar with the situation.
Overall losses from the U.S. mortgage market crisis could be up to $300 billion but financial firms and policymakers need to buy time to ensure an orderly work-out, the Organization for Economic Co-operation and Development said on Wednesday.