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.
As of this morning afternoon, nearly 50% of the S&P 500 companies have reported earnings. Here's a look at which companies have had the biggest surprises so far...
While investors hoped that a new year would bring better results, a plethora of downbeat earnings reports, poor corporate outlooks, gloomy economic data, and heightened concerns over the health of many large financial firms plagued the markets in January.
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.
As of yesterday afternoon, roughly 18% of the S&P 500 companies have reported earnings. Here's a look at which companies have had the biggest surprises so far...
As we prepare for US Treasury nominee Tim Geithner's confirmation hearings before the Senate Finance committee, we have already got a taste of what is to come, says Andrew Busch.
The British pound fell to its lowest level against the dollar since 2001 on continuing fears that UK banks would need to raise more capital and are facing massive dilution from investments by the UK government.
Over the past few days, the markets have been weighed down by weak economic data, downbeat corporate earnings forecasts, and concerns that many financial firms may post large quarterly losses in the upcoming weeks. Now at its lowest level since December 1, the Dow is down for its sixth straight session – its longest losing streak since the beginning of October.
The market may seem boring today, but look under the hood--something is happening. That "something" is rotation: traders are looking to buy some stocks and sectors, and sell others.
The Treasury Department's $700 billion bailout plan, also known as the Troubled Asset Relief Program (TARP), is one of the main U.S. tools to address the financial crisis.
The Dow and S&P both suffered the 2nd worst point drop ever today, and the Nikkei falls more than 10% at its lows for the session Thursday.
The US government will 1) take a $250 billion equity stake in the form of preferred shares which cannot be redeemed for three years, 2) guarantee bank-to-bank lending, and 3) remove deposit insurance levels for non-interest bearing accounts.
We appear to have had a rare 90 percent upside day, where 90 percent of the volume was to the upside, and 90 percent of stocks to the upside.
Want graphic evidence of how confused traders are? Stock futures rallied for a couple minutes on the Wells Fargo/Wachovia deal, then quickly dropped. Futures dropped again as non-farm payrolls came out below expectations, then rallied back a few minutes later.
The rise in futures is welcome by those hostile to the bill, who argue that the market should go it alone. To purists, the collapse of bank prices simply means that more and more of the bad news is factored into the market.
Cramer makes the call on viewers' favorite stocks.
On the announcement of the Government takeover of Freddie Mac and Fannie Mae, the markets surged on the open. The S&P 500 initially jumped over 30 points, more than it has ever moved on an open.
There’s always a bull market somewhere, Cramer says. Don’t give up on that.
A change in FDIC strategy for dealing with failing banks makes this a stock to own.
Following are the day’s biggest winners and losers. Find out why shares of American Airlines and Prudential popped while Gilead Sciences and Chesapeake Energy dropped.