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Financial stocks today mirror the schizo nature of the stock market. There are a few big winners, and some really big losers. Speculation of a breakup of Citigroup is driving that stock higher and is drawing money into the financial sector.
Jittery investors sent shares of Countrywide Financial down Monday on news that the mortgage giant is worried over what could be a crippling downgrade to its credit rating.
Banks worldwide may lose as much as $400 billion from subprime mortgages, as at least one in four of the risky home loans go into default, analysts said on Monday.
The three largest U.S. banks have agreed on the structure of a $100 billion super fund designed to help unblock the credit markets, the Wall Street Journal reported Monday, citing people familiar with the situation.
A downgrade of Citigroup's nearly pristine credit ratings will not impede its "thriving" business, new acting Chief Executive Win Bischoff wrote in an internal memo to employees sent Saturday.
Citigroup, the largest bank in the United States, said on Thursday that its former Chairman and Chief Executive, Charles Prince, will take home roughly $40 million as he retires from the company.
Wachovia said Friday it suffered a $1.1 billion loss on subprime mortgage-related debt in October, while Capital One Financial said more customers are having trouble paying their bills as the U.S. credit crisis deepened.
Bank stocks stopped the slaughter and mounted a dramatic rebound Thursday with Morgan Stanley rising and Citigroup paring its losses. Can these financial giants regain their footing or is there more carnage to come?
What do you make of a day like today? What do you make of it when the Dow moves in 250 point range from top to bottom, then moves almost all the way back at the close? What do you make of a stock like Citigroup, which trades in a 10% RANGE IN A SINGLE DAY?
Ben Bernanke’s latest assessment of the economy shows the Fed’s job of balancing inflation with a slowing economy is more difficult than ever, leaving policymakers undecided on further rate cuts.
Falling real estate prices, massive bank write-downs and a quickening drumbeat of slashed credit ratings adds up to one thing: The credit crunch has only just begun.
Stocks are striking a much-improved tone after Wednesday's high energy selloff, as investors await testimony this morning from Fed Chairman Ben Bernanke. Monthly chain store sales and some big earnings could also influence direction.
Morgan Stanley on Wednesday said it has suffered a $3.7 billion loss stemming from its U.S. subprime mortgage exposure, which it expects will reduce fourth-quarter earnings by about $2.5 billion.
Money isn't the only thing that's green at Wells Fargo.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.
Dutch financial services group ING reported a 47 percent rise in third-quarter net profit, helped by the sale of its stake in ABN Amro and said it expected a further 1 billion euros ($1.45 billion) of investment gains.
Societe Generale, France's second-biggest listed bank, posted an 11.5 percent fall in third-quarter net profit, bang in line with forecasts, due mainly to lower earnings in corporate and investment banking.
Rising oil prices have not stopped consumers from going to the mall. Retailer Guess is enjoying a 15% surge in their stock price. The clothing company reported better than expected revenue.
Market leaders like metal and energy and tech stocks got help from financials today--that hasnt happened in a long time. But the big story was the weak dollar, which helped push gold, silver, and oil to new highs. Commodity stocks like precious metals, steel, and iron ore also surged.
Stocks ended higher as record oil prices boosted shares of Exxon Mobil and other energy producers, while technology shares rallied on optimism ahead of Cisco's earnings.
It's been less than a week since the Federal Reserve hinted it was done lowering interest rates. Yet Wall Street is already clamoring for yet another cut.