The investors said Citigroup looked askance at the loans' "abysmal performance."» Read More
As most investors turn away from financials, there could be a way to make opportunities to the downside, said Randy Frederick, Charles Schwab director of derivatives on "The Call."
Wachovia posted a surprising first-quarter loss as credit problems soared and said it would cut its dividend and raise $7 billion.
On Friday, General Electric surprised, now it's Wachovia Bank's turn. They missed by a mile: a loss of $0.14 from continuing operations, consensus was a gain of $0.40. They are cutting their dividend 41 percent and seeking to raise $7 b in capital, so the poor earnings will be diluted even more.
Deutsche Bank is looking to sell as much as $20 billion in leverage debt, while Credit Suisse could write down another $5 billion, according to published reports over the weekend.
Beijing has called for a halt to red-chip companies, or China-backed firms incorporated and listed in Hong Kong, listing their shares in Shanghai amid a weak mainland stock market, a Hong Kong newspaper reported on Monday.
Activist shareholders' attempts to unseat several Washington Mutual Inc. board members will come to a vote Tuesday when the thrift, badly battered by the subprime mortgage crisis, holds its annual meeting and reports what are expected to be abysmal first-quarter results.
The rocky ride for the U.S. stock market may intensify this week if earnings reports from JPMorgan Chase, Merrill Lynch, Citigroup and other large banks and financial services companies rattle investors already concerned about a U.S.-led economic slowdown.
With other blue-chip companies due to report earnings in the coming week, GE's disappointing results fueled worries that the bad news may be just beginning.
Stock fell sharply Friday, led by industrials and techs, as General Electric's earnings miss cast a gloomy haze over earnings season. The Dow finished down 2.3 percent for the week, while the S&P shed 2.7 percent and the Nasdaq lost 3.4 percent.
A double helping of economic data and first-quarter earnings reports will flood the zone next week, but it's the corporate earnings that will drive stocks and give a better picture of where the economy is going. If GE's bombshell earnings miss is an indicator, the news will be as nasty as traders expect.
The Dow and S&P 500 snapped a two-day losing streak Thursday, led by technology stocks after an upgrade on the chip sector.
JPMorgan's equities team has said financial stocks will help lead the market higher this year. Today, they held a call on the financial group and say they are still overweight, and they expect it to be one of the better performing sectors.
Citigroup is expected to report another big quarterly loss on April 18, but the actual numbers may be almost secondary.
Stocks advanced Thursday, helped by an upgrade on the chip sector and increased forecasts from two Dow components.
Cramer makes the call on viewers' favorite stocks.
U.S. stocks closed lower Wednesday after UPS projected an earnings shortfall and oil prices surged.
Goldman Sachs Group Wednesday disclosed that it has received requests for information from "various governmental agencies and self-regulatory organizations" relating to auction products and the recent failure of such auctions.
Earnings season is just around the corner for the troubled financial sector, so how does a top stock researcher rate the sector?
U.S. stocks fell to session lows Wednesday after a report showing larger-than-expected decline in crude inventories sent oil prices climbing, and corporate news from Morgan Stanley and UPS dragged on shares.
Stocks moved lower after opening mixed, as investors moved cautiously on a bit of strength in financials and mixed earnings news.