Life is about to get more difficult for the nation's big banks but possibly a whole lot easier for the small ones.» Read More
Some traders are also turning bullish. John Mendelson of the Stanford Group issued a buy signal late in the day; traders tell me it was his 3rd buy signal in 5 years, and the prior two calls were very good.
These names are going down, so steer clear.
Goldman Sachs sent a note out late last night with this title: Key is Likely Not Alone, More Capital Raises and Dividend Cuts to Come. They specifically mentioned Regions Financial, Fifth Third, Comerica, Bank of America and SunTrust
KeyCorp dropped 12% Wednesday after underestimating its exposure to bad loans. Has the subprime slime spread all the way to the neighborhood bank?
Stocks closed at their highs for the day after bouncing up and down throughout the session.
Will this week’s cascade of bank and broker earnings show the worst is over – or could more writedowns be around the bend?
Financials are again the weak link today as all the gains of last week are now essentially gone. Weakness in Lehman, as well as a continuing campaign by Oppenheimer analyst Meredith Whitney to take down bank estimates, are weighing on financials.
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.
Comerica , a large regional bank that recently moved its headquarters to Dallas from Detroit, said on Wednesday third-quarter profit fell, hurt by credit quality problems related to commercial real estate in Michigan and California.
A weak dollar and strong stocks are putting Canuck banks into position to buy up their American counterparts.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.
There is a belief developing that the elimination of the up-tick rule, has been a major factor in the market's recent volatility. The up-tick rule prevented traders from shorting a stock on a downtick; they instead had to wait for an uptick or a zero plus tick (any trade at the same price as the previous up-tick trade). This rule was eliminated on July 6th.
Financial stocks staged a mild recovery on Monday, but the rebound didn't encourage options speculators to make bullish bets on the sector.
Several large U.S. banks reported slowing profit growth on Tuesday amid struggles with interest-rate pressures and rising loan losses, including from mortgages. Wells Fargo, the fifth-largest U.S. bank, bucked the trend, boosting profit 11% despite its large exposure to the struggling mortgage sector.
A baseball park named after Cramer? An American brands play in Japan? What's going on with Deere? Jim answers viewers' questions.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.
We're gearing up for a busy few days on the beat starting Friday. That's when biotech giant Genentech holds its annual analyst meeting in New York City. We'll be there. Last year the company put out new, boosted financial guidance in the middle of the trading day and it moved the stock. CEO Art Levinson told the crowd of analysts he liked to time it that way so they'll stick around for the whole day.
Comerica said Tuesday it will relocate its headquarters to Dallas from Detroit in order to diversify its customer base.