Shareholders should throw out Bank of America's corporate governance board after it promoted CEO Brian Moynihan to chairman, analyst Mike Mayo tells CNBC.» Read More
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.
Asset manager BlackRock is set to be signed up as the manager of a $75 billion fund being put together by U.S. banks to help struggling structured investment vehicles (SIVs), the Financial Times said, without citing the source of the information.
Stocks closed sharply lower as investors remained skittish about the housing slump's toll on the economy and potential credit losses at big financial services companies.
Good and bad news this morning. Good news: CPI in line with expectations. --More relief on the subprime front. UBS said they do not expect a major write-down of subprime-related exposures.
Investors in a $5 billion cash management fund run by General Electric have become the latest victims of the subprime mortgage meltdown. A short-term cash management fund, which attempts to keep the value of each share at one dollar, is instead offering investors just 96 cents on the dollar.
United Rentals said on Wednesday that Cerberus is not prepared to proceed with the purchase of the company on the terms set forth in its July takeover agreement.
Bank of America, the second-largest U.S. bank, said on Tuesday it expects to write down $3 billion of debt in the fourth quarter, as fallout from the nation's housing slump deepens.
Huh, what happened? With the understanding that we are still midday, here's the reasons for the rally: 1) The primary driver is that stocks have been dramatically oversold, and in the case of financials, heavily shorted.
U.S. stock indexes closed lower as a rally in financial shares lost steam late Monday, pushing down markets already pressured by falling tech shares.
Help may be on the way for the financial sector, but in the meantime individual institutions are continuing to get hit with damage from the growing subprime mortgage crisis.
HSBC Holdings was one of the first and most exposed banks to the U.S. housing crisis, but the recent bigger problems of leading rivals mean its shares have outperformed to make it the West's biggest bank.
Charles Prince resigned on Sunday as chairman and chief executive of Citigroup, and the bank said it may suffer an $11 billion write-down for subprime losses.
The analyst whose downgrade of Citigroup sparked a broad stock market sell-off on Thursday said she has received several death threats stemming from her research, the Times of London said.
Stocks closed on a positive note after several wild swings that ended an equally volatile week.
Large U.S. banks and brokerages will suffer additional writedowns of more than $10 billion in the fourth quarter as deteriorating credit trends continue, a Deutsche Bank analyst said.
Stocks closed sharply lower as investors found themselves confronted by two uncomfortable prospects: an end to interest rate cuts and a slowing economy.