Marty Mosby, banking analyst at Guggenheim Partners, told CNBC on Friday that patient investors could be rewarded by putting money in these four stocks.» Read More
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.
Asian markets slipped into the red Wednesday, with the exception of the Hang Seng index, paring back the modest gains made in the morning. Japan finished down while South Korea closed over 1 percent lower.
Tuesday's market action was the mirror opposite of Monday's mayhem. The Dow rose 215 points, or 1.69%. Money poured into the financial stocks. The credit markets calmed down, and 10-year Treasury futures traded near record volume but in a fairly tempered way. The dollar rallied. All this started with news Abu Dhabi Investment Authority was investing $7.5 billion in Citigroup.
As suspected, Freddie Mac is floating stock. Offering $6 billion in preferred stock, but the bigger story is they are cutting their dividend 50% to 25 cents....and the stock is down fractionally.
A $7.5 billion Abu Dhabi deal for Citigroup may encourage other Middle East investors to buy stakes in troubled U.S. financial firms.
Stocks closed sharply higher after a rebound by the battered financial sector spread across the entire market.
For the last two weeks, it hasn't mattered if the market is up, down, or flat going into the last hour; the prevailing trend has been to attempt to sell the market toward the end of the day, even if the market ends positive.
With Middle Eastern money flowing, JPMorgan Chase and AIG could be next in line for a major investment.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.
European shares recovered some of Tuesday's lost ground, led by a sharp bounce on Wall Street and a turnaround in some of the defensives sectors such as food stocks that had fallen earlier in the day.
The dollar rose against most major currencies Tuesday after Citigroup Inc. said it will sell a $7.5 billion stake to the Abu Dhabi government, restoring some confidence in battered U.S. banks.
Citigroup is selling up to 4.9 percent of itself for $7.5 billion to the Gulf Arab emirate of Abu Dhabi, giving the largest U.S. bank fresh capital as it wrestles with the subprime mortgage crisis and the resignation of its chief executive.
Abu Dhabi's $7.5 billion capital injection into Citi--that's 4.9% of the company--contains a stunning figure: a mandatory convertible that pays 11% yield (Citi currently has a 7.1% dividend yield)! That, as many have observed, is above the average yield for junk bonds, currently about 9%.
European equities are set to start weaker on Tuesday, extending the previous session's losses as markets track sharp falls on Wall Street which was hit by credit worries.
The comments of Fed officials this week could be the balm the markets need, but they could just as easily prove to be the source of more anxiety.
A late-day selloff pushed the major stock averages down 10% from their highs, meaning the market is now officially in a correction.
Citigroup, Wall Street’s largest financial services firms, is planning its second round of large-scale layoffs in less than a year, CNBC has learned.
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.