Capital One is revisiting a policy that allows bank workers to make personal visits to customers and identify themselves in any manner they choose.» Read More
The deepening housing slump has caused an alarming surge in job losses at financial services companies, and the end is nowhere in sight, consulting firm Challenger, Gray & Christmas said on Tuesday.
Here are more song parodies (see my previous post) to try to bring a smile to those of you upside down in your mortgage (or upside down in your Capital One and Countrywide stock): From a Colorado mortgage company grunt, the appropriately named Rocky M (talk about smiling through the pain), called 'Green Tree Beret" and sung to the "Green Beret" theme:
Capital One Financial said it will close its wholesale mortgage unit due to problems in the secondary mortgage markets, resulting in $860 million in charges in 2007. The company, which said about 1,900 positions will be eliminated, will "cease residential mortgage origination" at the unit, GreenPoint Mortgage, effective immediately.
Cramer doesn't want investors making the same mistake he did in 1998. It's better to be an opportunistic buyer than a scared seller.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.
Capital One said it expects to eliminate about 2,000 jobs, or a little more than 6% of its work force, throughout the company as part of a cost-cutting program designed to save $700 million by 2009.
Sirius, Schlumberger, Rosetta Resources and more...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.
Earnings blowouts from Google and strong guidance from two key names in the industrial sector were among the catalysts for Friday's most-active stocks.
Capital One Financial said first-quarter profit fell 24%, and cut its full-year earnings forecast, citing mortgage banking weakness, sending shares down more than 4% after hours.
The fallout in the subprime mortgage industry continues to trouble the markets, and analysts expect the issue to be at the forefront of investor concerns next week.
"Mortgage Meltdown or Media Hysteria, You Decide" From reading the newspapers, you’d think there was a virtual mortgage crisis in America. But look again! While home loans to people with poor credit (the so called sub-prime market) has grown as a business, it’s still a relatively small part of the total mortgage pie, less than 15% by most accounts.
The fact that Cramer wants you in this sector may confuse you. Yes, we know, this group is responsible for the subprime-lending problem we’re seeing today, but this could end up helping investors.
Capital One, a bank and credit-card issuer, said Thursday that fourth-quarter profit rose nearly 40%, but missed analysts' forecasts. The company also forecast 2007 earnings well below analyst estimates, citing a difficult banking environment.