SunTrust Banks is up 10.5 percent with heavy call activity Wednesday, after plunging along with other banks yesterday. ... Options traders are focused on the March 12.50 strikes.
CNBC has obtained a letter signed by six house Representatives from New York State sent to Timothy Geithner, asking the Treasury Secretary to disregard the call for Citigroup to break its 20-year, $400 million investment for the naming rights to the New York Mets stadium.
Last October seems like a long, long time ago. Back then, Stifel Nicolaus senior bank analyst Collyn Gilbert recommended Hudson City Savings Bank, PNC Financial Services, and People's United Financial among regional banks likely to weather the breaking financial storm. Today, only one of the three is left on her list.
The Treasury secretary should be careful. This analyst could easily undo his big announcement Tuesday.
More companies announced layoffs this week as the employment picture continued to dim. News Corp. became the latest victim of the weakening economy, announcing it is planning on cutting jobs after reporting a quarterly loss on Thursday.
More companies announced layoffs this week as the employment picture continued to dim. GlaxoSmithKline and Tiffany & Co. on Thursday became the latest victims of the weakening economy, each cutting an undisclosed number of jobs.
Fifth Third Bancorp is attracting heavy call activity as it reaches new 52-week lows. FITB is but a shadow of its $28.58 high from last March, dropping 70 percent last month alone and closing yesterday only a nickel above its new $1.74 low. That was enough to draw options traders, as calls outnumbered puts by 10,000 to 1,700.
More companies announced layoffs this week as the employment picture continued to dim. Clorox, Time Warner Cable and Fidelity National Financial were among the latest names on Wednesday to announce job cuts.
These days the most cash-rich companies often sell mobile phones rather than mortgages. Cramer tells you who's who in the changing market landscape.
Institutions we thought would never fail are starting to stumble. What's going on?
Stocks ended higher Tuesday, snapping a three-day losing streak, as an earnings beat from Merck and better-than-expected housing report gave the market a boost.
Another day, another round of corporate layoffs. Liz Claiborne and PNC Financial Services became the latest companies to announce job cuts on Tuesday
Traders are watching tech as a bright spot in an otherwise tentative market, which is focused on a banking industry bailout, the economy and earnings news.
Government bail-outs in the wake of financial wreckage have inundated news headlines across the globe. Capital injections by the government into leading American banks under the U.S. Troubled Asset Relief Program (TARP) have been redefined across multiple sectors. With so many institutions holding bad assets and seeking to tap TARP, a new index by the NasdaqOMX Group was introduced as the Government Relief Index (QGRI) to track the performance of U.S. listed companies that are participants of U.S. government sponsored relief programs such as TARP.
Following are the day’s biggest winners and losers. Find out why shares of McDonald’s and US Bancorp popped while Cash America and Coach dropped.
Stocks jumped on Wednesday, rebounding from a two-month low, after a surprisingly healthy earnings report from IBM fueled optimism...
Predictably, it was led by financials. The Bank Index rallied 12 percent after dropping 19.7 percent yesterday.
Not a ringing endorsement, for sure. But this market needs leadership right now.
The markets have stabilized as bank stocks have stabilized. Of some help is PNC, which is generating a few raised eyebrows on trading desks. Recall they dropped 41 percent yesterday and is up 21 percent today (no one even blinks at these price swings any more).
Optimism may not be the order of the day, but neither is thoughtless pessimism.