Kelly King, BB&T Corporation Chairman & CEO, explains the Department of Housing and Urban Development request for an audit survey. "We've not been fined or found guilty of anything, and we're not sure we'll have an audit," he says.» Read More
NEW YORK-- Google plummeted almost $80 per share, more than 10 percent, and trading in the stock was halted two and a half hours Thursday after a disappointing earnings report was published ahead of schedule and surprised investors. Google was trading at $754 per share at 12:30 p.m. EDT, then fell almost $20 in a minute after investors saw the report, a draft.
Google plunged 9 percent after it accidentally released a weak earnings report hours ahead of schedule. "This is a market that's waiting for a clear catalyst," said Quincy Krosby, market strategist at Prudential Financial. Google's stock dropped $68.19 to $687.30 before trading was suspended.
NEW YORK-- The stock market headed slightly lower on Thursday, following a leap in claims for unemployment benefits and weak results from American Express. The increase suggested that layoffs were increasing, however the Labor Department noted that there were technical reasons behind the swing, mainly delayed figures from one large state, California.
Though expectations have diminished in recent days that the 27- nation EU will agree on the terms of a banking union, investors are keen to hear updates on the economic fate of Spain, as well as Greece, which appears to be near to securing its next batch of bailout cash.
Stocks are opening mostly lower, breaking a four-day winning streak for the Dow Jones industrial average, following a leap in claims for unemployment benefits and a mixed batch of corporate earnings reports. The Labor Department reported that applications for unemployment benefits jumped last week to the highest level in four months.
WINSTON-SALEM, N.C.-- BB&T Corp. says it will create 1,700 new jobs over five years in a large back-office operation near Piedmont Triad International Airport. The bank said Tuesday that it has signed a seven-year sublease to take over a former American Express Co. call center in Greensboro.
*UBS raises BB&T Corp price target to $37 from $35; rating buy. Reuters Station users, click. 1568. Reuters Station users, click. 4899.
Once the dregs of the U.S. economy, beleaguered mortgage banks are becoming more attractive as the home sector claws back from a depression, an analyst said Monday.
For a second day, S&P 500 futures rose the minute Europe opened. Spanish bailout request: when, not if. Now that the Spanish budget has been submitted and a review of its banks capitalization needs is completed, everyone is anticipating Spain will make a formal bailout request.
BB&T Corp reported a better-than-expected quarterly profit as the bank set aside less money for loan losses and earned higher fee-based income, with Kelly King, BB&T chairman & CEO.
Companies fired "whale" losses, clawbacks and profit warnings at the market this week, building anticipation for next week, when earnings season swings into high gear.
As the market braces for some bank earnings this week, analyst Dick Bove said said investors looking at regional bank earnings will be cheering but when it comes to investment banks, they'll be cringing.
Large regional banks are filling a lending void created by the biggest institutions' regulatory burdens and the competitive disadvantage of smaller companies, analyst Dick Bove said.
Discussing the drama surrounding JPMorgan's trading loss and how to make money in the banking industry, with Matt O'Connor, Deutsche Bank analyst.
With David Tepper and Leon Cooperman loading up on banks – should you do the same?
Sterne Agee analyst Todd Hagerman on Monday said that he saw “10 to 15 percent further downside risk” to broker/dealer stocks, with “perhaps more for JPMorgan as the review [of the company’s trading losses] unfolds.”
Barclays’ controversial tax planning business will come under fresh scrutiny in a U.S. court this week over whether a transaction designed by the bank cost the U.S. government more than $1 billion in lost tax receipts. The FT reports
Stocks eased off their worst levels but still finished lower Wednesday, led by materials and energy, amid worries over weakness overseas.
Here’s a look at 5 recently IPO’ed stocks that could face pressure if private-equity shareholders were to look for a speedy exit.
The much-anticipated rebound in the new-home market may be here with this spring’s selling season. And that has investors diving into these highly cyclical stocks after years of decline.