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Four Wall Street firms have received subpoenas from US Senate investigators who are examining whether the firms improperly structured transactions to help hedge funds avoid dividend taxes, The Wall Street Journal reported on its website.
Important economic data will compete with Citigroup's much-anticipated earnings report ahead of Tuesday's opening bell. Retail sales data is being particularly watched to see if it is weak enough to prompt the Fed to cut rates even before its regular meeting at the end of the month.
Wall Street advanced sharply Monday, with solid preliminary results from IBM encouraging investors to go back into the stock market. What's the word on the Street?
A Congressional committee said on Monday it invited current and former chief executives of three major financial institutions -- Countrywide Financial Corp , Citigroup and Merrill Lynch -- to testify on Feb. 7 about their severance packages.
Stocks closed sharply higher after IBM's improved outlook kicked off a market rally.
The idea that financials are close to a turning point has been percolating for several weeks. But word that Citigroup could take a massive writedown when it releases earnings tomorrow has added fuel to the theory the group may be closing in on a bottom.
Europe's major indexes ended slighlty higher Monday, despite early losses, as banking stocks made firm gains and helped to overcome worries about a U.S. recession.
The dollar dropped to a record low versus the Swiss franc and seven-week lows against the euro and yen on Monday as concern that weak U.S. corporate earnings will prompt more interest rate cuts weighed on the currency.
Citigroup plans to announce a writedown of as much as $24 billion and layoffs of up to 24,000 due to subprime and credit-related losses, CNBC has learned.
Asian markets ended mostly lower Monday, while the price of gold hit a new record high above $900 a troy ounce as investors sought protection against a potential U.S. recession and a weaker dollar. Hong Kong stocks closed 1.5 percent lower and South Korean shares lost almost 1 percent.
In "Tomorrow's Playbook", the largest banks reveal just how bad it is out there. What’s the trade ahead of earnings from Citibank (C) and Merrill (MER). Also how to play the upcoming Macworld conference and the new defense budget.
The worse news out of the banks next week, the better chance the Fed will keep its promise.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.
Saudi Arabian Prince Alwaleed bin Talal, Citigroup's largest individual shareholder, will inject new cash to help America's biggest bank grapple with heavy mortgage market losses, the Wall Street Journal reported on its Web site on Friday.
Quarterly reports next week from Citi, JP Morgan, Washington Mutual, Wells Fargo, Comerica, Merrill Lynch, PNC. There are plenty looking to go long after the reports are out, based on valuation. For example, Citi and Wells Fargo are trading in the bottom 10 percent of their historical valuation.
Merrill Lynch is expected to suffer $15 billion in losses stemming from soured mortgage investments, almost double its original estimate, prompting the firm to raise additional capital from an outside investor.
In a special Sell Block, Cramer revisits the worst performers of the subprime mortgage crisis. His new takes may surprise you.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.
If you’re brave enough to trade against the trend you could make a lot of money. Following are the traders' high risk and high reward plays.
Stocks rallied to close higher after a report that Bank of America is in advanced talks to buy troubled mortgage lender Countrywide Financial.
Who will cut their dividend next? It's one of the main sports on the Street, but Credit Suisse is trying to get a little more scientific about this. MBIA yesterday joined a growing line of companies cutting their dividend, a group which now extends to Fannie Mae, Washington Mutual, National City, and Sallie Mae.
Consumer spending didn't slow down that much but apparently consumer bill paying has. Look at Capital One. The company is taking a $1.9 billion provision for loan losses in the fourth quarter and cut its full year profit forecast by more than 20 percent, blaming rising consumer loan losses and higher legal reserves.