The Dow Jones Industrial Average opened at its lowest level in 12 years, slipping below 7,000 as investors grew increasingly skittish over the state of the stock market amid the wave of government bailouts.
A Bank of America official told us that for every $1 they spend on sports marketing, they net $3. They also said that out of all the new checking accounts that were opened in 2008, 10 percent of those were attributed to their sports marketing programs.
Details of the government’s plan to convert its preferred shares to common shares in Citigroup have pushed stock futures sharply lower, with shares of Citi and other banks under pressure in pre-market trading.
Could it be? And if so, will it continue? Cramer says there’s reason to think it might.
US Bancorp is seeing huge options trading, both calls and puts — that appear to be linked. USB averages 24,000 calls per day, but some 30,000 calls changed hands Thursday in the first 45 minutes of trading alone. Puts are also well above normal levels.
Another round of layoffs was announced on Thursday, adding to the gloom over rising unemployment. Delta Air Lines and Performance Food Group were among the latest names on Wednesday to announce job cuts.
On Wednesday the White House unveiled its new plan to help homeowners on the brink. We’ve got the details – now will it work?
Another round of layoffs was announced on Tuesday, adding to the gloom over rising unemployment.
Another round of layoffs was announced on Thursday, adding to the gloom over rising unemployment.
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.