Some of the names on the move ahead of the open.» Read More
Stocks regained lost ground heading into the final hour of trade, with lower oil boosting financials and a host of other beaten-down sectors as Wall Street bid to finish a seesaw week slightly higher.
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
Stocks continued a solid rally Friday, boosted by falling oil prices and investors who swooped in to snatch up battered financial stocks.
KeyCorp, a large U.S. Midwest regional bank, said on Friday it raised $1.65 billion, 10 percent more than planned, to bolster its capital base.
Problem is, this theory was wrong yesterday. Stocks traders were bitterly disappointed yesterday, as a dollar rally failed to prevent oil from moving up.
Stocks pulled back following news that the Microsoft-Yahoo deal is off. Earlier, the market had rallied as oil prices receded, retail sales came in better than expected and merger in the beverage industry got investors jazzed up.
Stocks were well off their highs but still posting solid gains after unexpected strength in retail sales and a multibillion-dollar takeover bid in the brewing sector.
KeyCorp , a large U.S. Midwest regional bank, said it plans to raise $1.5 billion in equity capital and cut its dividend in half, following an adverse federal court ruling over the tax treatment of leveraged leases.
Stocks opened higher Thursday after a better-than-expected jump in retail sales and a bid by Belgium-based brewer InBev for Budweiser-maker Anheuser-Busch, but news of the ouster of two high-level executives at Lehman Brothers rattled the market.
KeyCorp, which has been hitting new lows recently, cut its dividend in half and plans to raise $1.5 b in capital. The excuse here is an adverse court ruling on tax treatment, but no one is surprised, nor does anyone think they will be the last to cut dividends.
Despite considerable jawboning, the dollar was weak, commodities were strong, and that combination has not proven to be helpful to stocks. With oil near new highs, the Dow Transports dropped nearly 5 percent for the second time in four days (ouch!)
The good news is that a feared Monday Debacle never materialized, in fact it never even got close. What worked was the same story that worked for the last five months: buy the dips, sell the rallies. So energy, materials, and beaten up retailers got a modest lift today.
The Dow fell sharply on Monday after S&P jolted three leading U.S. banks with downgrades and Wachovia ousted CEO Ken Thompson. What's the "Word on the Street?"
Financials came under pressure Monday after Wachovia ousted CEO Ken Thompson. Which other banks could also go lower?
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.
It's finally happening...there are signs of capitulation in the regional banks as selling has intensified, the Dumb Money is giving up the ghost here and, well....is this finally the bottom we have been waiting for???
Fast Money takes Chicago just as commodities have a breakout week with oil hitting a new high and raw materials making a resurgence. Find out how to trade it all here.
Stocks finished flat as a new record for oil prices overshadowed a better-than-expected report on housing. Still, for the week, all three major indexes managed decent gains: The Dow Jones Industrial Average climbed nearly 2 percent; the S&P 500 index advanced about 2.5 percent and the Nasdaq jumped more than 3 percent.
Stocks finished flat Monday as concerns about the Federal Reserve's rate decision in a couple of days kept a lid on activity generated by merger buzz.