Following are the day’s biggest winners and losers. Find out why shares of Google and Macy’s popped while LDK Solar and American Express dropped.
Following are the day’s biggest winners and losers. Find out why shares of Alcoa and Wells Fargo popped while Newmont Mining and Brown-Forman dropped.
Stocks took off like a rocket Tuesday, with the Dow gaining a whopping 5.8 percent, as banks rallied after a combination of encouraging news from the sector. The Nasdaq jumped 7.1 percent.
Today, Citigroup CEO Vikram Pandit told Bloomberg that the bank has turned profitable with its best numbers since 2007. This echoes what BofA CEO Ken Lewis told CNBC about two weeks ago.
Tuesday: Rep. Barney Frank (D-Mass.) said the uptick rule will soon be reinstated but the SEC said that mark-to-market regulations would remain in place. Citigroup shares skyrocketed nearly 40 percent and many other financials followed suit — lifting the market with them. General Electric* shares enjoyed an assurance from Citi and AT&T said it'd add — yes, add — 3,000 jobs and invest up to $18 billion. CNBC heard from experts who said that investors are nearly ready to get out of cash — and gave a prescription for bear repellant.
Options traders are snapping up calls as Disney bounces off a new 52-week low today.
Stocks pared some of their earlier gains but were still up sharply on renewed confidence about the financial sector.
As of midday Tuesday, all major indices are up 4 percent or greater. If the rally holds, the S&P 500, Dow, and NASDAQ Composite would be poised for their biggest percent increase since late November of last year.
The Obama Administration has not instilled confidence in investors, said James Tisch, Loews president & CEO.
Warren Buffett's three-hour appearance on CNBC's Squawk Box Monday morning generated headlines, moved bank stocks, and even caught the attention of the White House. Now you can download a PDF of the complete transcript.
US stock index futures pointed to a higher open for Wall Street after Monday's selloff and with some good news emerging from the banking sector.
History is no guide for investors right now, Cramer says.
Following are the day’s biggest winners and losers. Find out why shares of Geron and Wells Fargo popped while HSBC and Proctor & Gamble dropped.
Monday: Warren Buffett told CNBC the U.S. economy has "fallen off a cliff." Prof. Nouriel Roubini, who predicted the current crisis, said the U.S. recession could last up to 36 months. But some M&A activity was seen: Dow Chemical and Rohm & Haas announced a deal; and Roche and Genentech are reportedly close to their own agreement. CNBC heard from experts who said steady growth companies are the way to invest now; and that the government rescue plan is going to create the first signs of recovery.
Stocks retreated in a yo-yo session as an earlier advance in the shares of energy and big-cap technology companies dissipated. But banks held gains as investors hoped for more clarity on the government plan to firm up the financial system, with Fed Chairman Ben Beranke meeting with President Obama today.
More energy, please! For cryin' out loud, we had no fewer than THREE DEALS emerging today and what happens, The Street yawns, we drift lower.
Traders were more excited about GE stabilizing and U.S. banks not dropping on a day when European banks are down, than about the Schering deal.
This is part four of the preliminary transcript and video clips of Warren Buffett's appearances on CNBC's Squawk Box on Monday, March 9, 2009.
A big pharmaceutical deal is doing nothing to help stocks pre-open. Once again stocks overseas are being led down by banks.
For the first time since 1995, shares of Dow component American Express traded below $10 on Friday. It became the sixth current Dow component to trade with a single-digit price tag, joining General Electric, Alcoa, Bank of America, General Motors, and Citigroup.